Senegal

Desert Gold Receives Conditional Exchange Approval for Acquisition of TransAfrika Belgique S.A.

Further to its press release of October 5, 2011, Desert Gold Ventures Inc. (TSX-V: DAU) (the "Company" or "Desert Gold") is pleased to announce that the TSX Venture Exchange (the "Exchange") has conditionally approved its proposed acquisition (the "Acquisition") from TransAfrika Resources Cyprus Limited (the "Vendor") of all of the outstanding shares of TransAfrika Belgique S.A. ("TransAfrika"), a private Belgian company which owns interests in three advanced exploration-stage gold deposits in central and western Africathrough subsidiaries in Rwanda, Mali and Senegal.

When hedging hurts: Teranga must deliver 181,855oz at $830, but cash costs are $850-$875

Teranga Gold Corporation is a Canadian-based gold company listed on the Toronto Stock Exchange (TSX:TGZ) and Australian Securities Exchange (ASX:TGZ). For the quarter ended September 30, 2011, the company delivered 16,615 ounces into gold hedge contracts at $846 per ounce, representing 60 percent of gold sales for the quarter, and 10,959 ounces of gold were sold into the spot market at an average price of $1,673 per ounce resulting in an average realized price for the quarter of $1,174 per ounce.

Accelerated deliveries into gold hedge contracts during the quarter ended September 30, 2011 reduced the balance outstanding to 181,885 ounces of gold to be delivered at an average price of US$830/oz. Its Sabodala mine is on track to produce 140,000 of gold for the year at approximately $850 to $875 per ounce.

Teranga Gold Corp June quarterly report in line with expectations

Sabodala gold mine produced 32,480 ounces of gold during the quarter at total cash costs of US$879 per ounce consistent with guidance. Exploration program achieved significant ramp-up in activity with a total of 14 drill rigs currently operating.