Delta, British Columbia–(Newsfile Corp. – May 5, 2026) – Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the “Company”) is pleased to provide an update on development activities at its Barani East site gravity plant and associated site infrastructure within the Company’s 100% owned Senegal Mali Shear Zone (“SMSZ”) Gold Project in western Mali.
Updated Ground Developments at Barani
Development activities at Barani are now advancing, transitioning from initial mobilization into active enabling works. During this period, the Company completed broad-scale site clearing, surveying, initial foundation excavation, and ancillary infrastructure preparation, significantly improving overall site readiness ahead of plant delivery (Figure 1). A total footprint of approximately 52,000 square meters has been cleared across key operational areas, including the process plant site, workshop, and stockpile zones. Survey control has been established, and initial foundation excavation has commenced, positioning the site for construction activities upon arrival of the processing equipment. Supporting works, including perimeter fencing, access control infrastructure, and fabrication of ancillary steel components, are also progressing.
Desert Gold’s CEO Jared Scharf commented “Site preparations at Barani East are progressing well. With the gravity plant now on its way to the port in Dakar, the company is closer than ever to achieving our goal of gold production. I look forward to providing the market with additional guidance as major milestones are achieved.”
Figure 1. A) Ongoing Surveying and field staking for site layout; B and C) Earthworks and initial footing within the proposed plant area; D) Area fencing and steel preparation staged on site.
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Water supply development continues to advance as a critical parallel workstream. The company commissioned AGR-Consulting to complete a geophysical targeting program utilizing electromagnetic profiling and conductivity contrast interpretation across 15 survey lines. The program identified 13 priority borehole targets, exceeding initial expectations. Drilling of the first borehole is currently underway, with favorable hydrogeological conditions interpreted between 60 and 90 meters depth (Figure 2).
Figure 2. Initial groundwater borehole drilling to support plant operability and site water supply.
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Updates on the Processing Facility
Under the terms of the supply agreement, technical acceptance of the Company’s 200 tonne-per-day gravity processing plant, including a six-month inventory of spare parts and a 650 kVA generator set, was completed in China between March 25 and April 3, 2026. The inspection was conducted by a joint team of Desert Gold representatives and independent engineers, confirming that the equipment meets contractual specifications and is approved for shipment (Figure 3).
Figure 3. Barani Generator and Gravity-plant Equipment inspection prior to shipment.
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Six containers carrying the gravity plant and generator have been shipped from Shekou and Qingdao ports as of April 26, 2026. Delivery to the Port of Dakar is expected by mid-June, with site delivery anticipated by late June 2026, subject to standard logistics and customs clearance (Figure 4). Commissioning of the plant is currently targeted for mid-July 2026. While minor adjustments to the shipping route were required, overall project timelines remain aligned with planned development milestones.
Figure 4. Equipment loaded to be transported to Barani site.
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The Barani plant forms part of the Company’s staged development strategy at the SMSZ Project. As outlined in the updated Preliminary Economic Assessment announced in November 2025, the Company is pursuing a modular oxide development scenario at Barani and Gourbassi utilizing a gravity and carbon-in-leach (CIL) processing flowsheet. The study demonstrated an after-tax NPV (10%) of US$61 million and an after-tax IRR of 57% at a base case gold price of US$2,850 per ounce. The conceptual development plan contemplates operational flexibility to incorporate additional near-mine oxide material as exploration advances.
The Company believes the progress achieved to date at Barani reduces execution risk associated with plant installation and supports advancement toward the next phase of development. Further updates will be provided as key milestones are achieved.
On Behalf of the Board
“Jared Scharf”
___________________________
Jared Scharf
President & CEO
Additional Disclosure – Development and Economic Uncertainty
The Company cautions that the decision to advance site development activities and conduct commissioning and metallurgical testing prior to the definition of Mineral Reserves involves significant technical and economic uncertainty. As outlined in National Instrument 43-101 Companion Policy 43-101CP, mineral projects that have not defined Mineral Reserves are considered to have a higher risk of failure, and there is no assurance that the Project will be demonstrated to be economically viable. Key risks include, but are not limited to, uncertainties related to metallurgical performance, operating costs, gold recoveries, scale-up of processing infrastructure, logistics, and the availability of sufficient financing. There is no certainty that further technical work will result in the declaration of Mineral Reserves or that any future development scenario would be economically viable.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed and approved by Ty Magee (M.Sc., P. Geo), a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Magee is an advisor and consultant to Desert Gold Ventures and is considered independent of the Company.
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company which controls the 440 km2 SMSZ Project in Western Mali containing Measured and Indicated Mineral Resources of 8.47 million tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million tonnes grading 1.16 g/t gold totaling 769,200 ounces. For further information please visit www.SEDAR.com under the company’s profile. Website: www.desertgold.ca
Contact
Jared Scharf, President and CEO
Email: jared.scharf@desertgold.ca
This news release contains forward-looking statements. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which Mineral Resource estimates are reflective of actual Mineral Resources, the degree to which factors which would make a mineral deposit commercially viable, and the risks and hazards associated with mining operations. Risks and uncertainties about the Company’s business are more fully discussed in the company’s disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States securities act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.
