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Research Report (Initial Coverage) – Desert Gold Ventures Inc. - 02.08.2024

Desert Gold Ventures Inc. is a mineral exploration company focused on discovering Tier 1 gold deposits in West Africa, particularly in Mali. Their flagship project, the SMSZ Project, spans 440 km² along the Senegal- Mali Shear Zone, a region known for significant gold deposits. The project encompasses over one million ounces of gold, with measured and indicated mineral resources of 310,300 ounces and inferred mineral resources of 769,200 ounces. The 2024 drill program includes 30,000 meters of drilling, aiming to expand the current resource base and identify new economic grade targets. An updated resource estimate is expected in Q4 2024. Additionally, the company is evaluating the potential to build a small heap leach mine, which could
produce significant cash flow. The Company expects to deliver a Preliminary Economic Assessment (“PEA”) in Q4, 2024. With several large active gold mines in close proximity, Desert Gold Ventures Inc. could be an interesting acquisition target. The company's aggressive exploration efforts continue to yield promising results, positioning it as a significant player in West African gold exploration.