Roxmore Resources Inc. — Capital/Financing Update 2026

Jan 30, 2026

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Desert Gold Closes Non-brokered Private Placement

Surrey, British Columbia--(Newsfile Corp. - March 26, 2024) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to announce that it has closed its nonbrokered private placement and issued a total of 15,993,142 units at a price of CAD \$0.07 per unit (each, a "Unit" and collectively the "Units") raising gross proceeds of CAD \$1,119,520 (the "Financing"). The Financing is subject to final acceptance for filing by the TSX Venture Exchange. Securities issued pursuant to the Financing are subject to a statutory hold which expires on July 13, 2024 as to 8,847,142 Units and on July 21, 2024 as to 7,146,000 Units.

Each Unit consists of one common share in the equity of the Company and one share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CAD \$0.08 per common share for a period of three (3) years from the closing of the Financing.

The proceeds of the Financing will be used to fund a Preliminary Economic Assessment ("PEA") that will focus on the heap leach extraction of gold from open pit constrained oxide and transition mineral resources at its Barani East and Gourbassi West gold deposits.

A director of the Company participated in the Financing and indirectly acquired 1,428,571 Units for a total investment of \$100,000. The director's participation constitutes a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units issued to or the consideration paid by the director exceeds 25% of the Company's market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Financing as the date of closing was not previously known.

ON BEHALF OF THE BOARD

"Jared Scharf" ______________________ Jared Scharf President & CEO

ABOUT DESERT GOLD

Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits in Western Mali (SMSZ Project and Djimbala) and its Rutare gold project in central Rwanda. For further information please visit www.sedarplus.ca under the Company's profile. Website: www.desertgold.ca

CONTACT

Jared Scharf, President & CEO Email: jared.scharf@desertgold.ca

The information in this news release may include certain information and statements about management's viewof future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially fromthose anticipated and indicated by these forward-looking statements. Although theCompany believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Risks and uncertainties about theCompany's business are more fully

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discussed in theCompany's disclosure materials filedwith the securities regulatory authorities inCanada and available at www.sedarplus.ca and readers are urged to read these materials. TheCompany assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ fromsuch statements unless required by law.

Neither the TSXVenture Exchange nor its regulation services provider (as that termis defined in the policies of the TSXVenture 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 theUnited States. The securities described herein have not been andwill 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 aU.S. person absent an exemption fromthe registration requirements of such act.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203195