Desert Gold Upsizes Fully Subscribed LIFE Offering to C$7,230,000

Executive Summary

• Desert Gold Ventures upsized its non‑brokered private placement, increasing the target gross proceeds from C$5.0 M to up to C$7.23 M.
• The offering will issue up to 90,375,000 units (each unit = 1 common share + ½ warrant) at C$0.08 per unit and is fully subscribed, with closing expected on February 9, 2026 pending approvals.
• Net proceeds are earmarked for commissioning the first phase of a gravity plant at Barani East (Mali), resource expansion and drilling at SMSZ (Western Mali) and Tiegba Gold (Côte d’Ivoire), plus general working capital.

Key Details

• Offering Size: Aggregate gross proceeds target C$5,000,000 – C$7,230,000.
• Price per Unit: C$0.08.
• Units to be Issued: Up to 90,375,000 Offered Units.
• Unit Composition: 1 Common Share + ½ of a common‑share purchase warrant (full warrant = right to buy one share at C$0.12 for 24 months after closing).
• Closing Date: Anticipated February 9, 2026, subject to TSXV conditional approval and other regulatory consents.
• Use of Proceeds:
• Commission first phase of gravity plant at Barani East gold oxide project (West Mali).
• Resource expansion & exploration drilling at SMSZ Project (Western Mali).
• Exploration drilling at Tiegba Gold Project (Côte d’Ivoire).
• General working capital.
• Regulatory Exemptions: Offered to Canadian investors (except Québec) under NI 45‑106 Listed Issuer Financing exemption; also offered in the U.S. via private placement exemption and internationally on a private‑placement basis. No statutory hold period for Canadian subscribers.
• Finder Compensation: Up to 7 % cash commission of gross proceeds plus finder warrants equal to 7 % of the number of units introduced, subject to TSXV policies and securities law.
• Securities Not Registered in U.S.: The release clarifies that the securities are not registered under the U.S. Securities Act and cannot be offered or sold in the United States absent registration or an exemption.

Notable Quotes

(No direct quotes were provided in the release.)