Monday, December 1, 2008
TSX Venture Symbol: DAU
DESERT GOLD EARNS 50% INTEREST IN GOLDBANKS PROPERTY
Vancouver, B.C. -- Pursuant to the Exploration License and Option Agreement dated March 15, 2004, as amended, between Desert Gold Ventures Inc. (“Desert Gold”) and Kinross Goldbanks Mining Company (“Kinross Goldbanks”), a subsidiary of Kinross Gold Corporation (“Kinross”), Desert Gold has completed aggregate Exploration expenditures of a minimum of US$5,000,000 on the Goldbanks Property (the “Property”) in order to earn a 50% interest in the Property. The Company will enter into a joint venture agreement with Kinross Goldbanks. Under the terms of the Option Agreement and based on the expenditures of US$2,883,098.48 incurred since January 1, 2008, Desert Gold will issue 115,324 common shares of Desert Gold to Kinross upon receipt of TSX Venture Exchange approval.
On Behalf of the Board of Directors,
"Eugene Beukman"
Eugene Beukman, President
For further information on Desert Gold Ventures Inc. please visit our website at:
www.desertgold.ca
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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