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Desert Star Announces Private Placement of Convertible Notes

August 21, 2014



ENP Newswire - 21 August 2014

Release date- 19082014 - VANCOUVER, B.C. - Desert Star Resources Ltd. announces that it has arranged a non-brokered private placement of up to $250,000 principal amount of convertible notes of the Company.

The convertible notes will be outstanding for a period of one year from the date of issuance and bear interest at the rate of 12% per annum calculated and payable quarterly with the first quarter commencing as of the date of closing. The lenders may convert at any time, all or a portion of the principal into units of the Company at a price of $0.19 per unit (each a 'Unit').

Each Unit consists of one common share of the Company and one transferable common share purchase warrant ('Warrants'). Each Warrant is exercisable into one common share in the capital of the Company ('Warrant Share') for a period of one year from the date of issue, at an exercise price of $0.25 per Warrant Share. The Company intends to use the convertible note proceeds for working capital purposes.

The private placement is subject to the approval of the TSX Venture Exchange. The private placement of convertible notes may be subscribed for by insiders and their associates and pro group parties.

About Desert Star Resources

Desert Star is a Vancouver-based mineral exploration company focused on the identification, acquisition and development of copper and gold projects located in top-tier mineral belts in the southwestern United States that contain significant historical production, existing mining infrastructure and an established mining culture.

For further information regarding Desert Star, please email info@desertstar.ca or visit our website at www.desertstar.ca

Investor Contact:

Tel: (604) 628-5623

Email: info@desertstar.ca


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Source: ENP Newswire


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