Vancouver, B.C. June 20, 2016: (TSXV: DSR) (“Desert Star” or the “Company“) is pleased to announce a private placement (the “Private Placement”) for gross proceeds of up to $600,000, through the issuance of units (each a “Unit”) of Desert Star, at a price of $0.05 per Unit. Each Unit is comprised of one common share and one transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one additional share of Desert Star for a period of two years from the date of issuance at a price of $0.10 per share.
Desert Star will pay finder’s fees in accordance with TSX Venture Exchange policies. Proceeds of the Private Placement will be used for general working capital purposes. All securities issued pursuant to the Private Placement will be subject to a four month and a day hold period.
On behalf of the Board of
DESERT STAR RESOURCES LTD.
President and CEO, Desert Star Resources Ltd.
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.