Friday, February 27, 2009
TSX Venture Symbol: DAU
CORPORATE UPDATE
Vancouver, B.C. -- Desert Gold Ventures Inc. ("Desert Gold" or the "Company") wishes to announce that it will hold an Extraordinary Meeting, at a date to be determined, at which shareholders will be asked to approve a special resolution to consolidate all of the issued common shares of Desert Gold (of which 20,492,082 are currently outstanding) on the basis of 4 pre-consolidated common shares to 1 post-consolidated common share, or such lesser number as may be determined by Desert Gold’s Board of Directors. The Board of Directors believes that Desert Gold’s ability to conduct the equity financing required for its operations is contingent upon, among other things, a consolidation of its outstanding common shares.
The Company also wishes to announce that in accordance with the policies of the TSX Venture Exchange (the “Exchange”) it has received both disinterested shareholder approval and Exchange approval to adopt the Company’s 2009 Stock Option Plan which increases the number of shares reserved for issuance thereunder from 2,662,383 common shares to 4,075,348 common shares.
On Behalf of the Board of Directors,
"Ayub Khan"
Ayub Khan, Chairman
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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