Deep-South Updates the Recent High Court Hearing in Namibia
Deep-South Updates the Recent High Court Hearing in
Namibia
VANCOUVER, BC
,
Dec. 1, 2021
/
CNW/ -
Deep-South Resources Inc. ("Deep-South" or "the Company") (TSXV: DSM)
reports that the legal counsel of the Ministry of Mines and Energy of
Namibia
("Ministry") proceeded with their last filing on
November 17, 2021
. The filing did not include any documents supporting the decision of the Minister to deny the renewal
of the Haib Copper licence. Therefore, the Ministry has not provided any evidence supporting the decision of the Minister.
At the Court hearing on November, 25, 2021, in the absence of the judge, Deep-South's legal counsel and the legal
counsel of the Ministry agreed to request the court to issue an Order to approve the following schedule: Deep-South will
file additional documents to support its original affidavit by
December 15, 2021
. The additional documents will include
expert advice covering the exploration work carried out by Deep-South on the project and the work program proposed for
the renewal of the Haib Copper licence. The documents will also include an update of the funds invested in the project
development. The court will be closed for annual recess between
mid-December 2021
and
mid-January 2022
. The
Ministry will have until
February 14, 2022
to file their defense affidavit. Deep-South will have until
February 28, 2022
to
reply with its last affidavit.
The Court will hold another hearing on
March 3, 2022
, to define the further procedures with regards to the review of the
decision of the Minister.
The Company will provide regular updates in this regard and any other matter concerning this situation.
Corporate update
While recuperating Haib Copper mineral rights remains a top priority, Management continues to seek another copper
project. Some projects have been identified and discussions with their owners are taking place. The Company will provide
an update on the matter in due course. The Management is determined to develop Deep-South as a developer of
important copper projects.
About Deep-South Resources Inc
Deep-South Resources is a mineral exploration and development company Deep-South growth strategy is to focus on the
exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable
countries. In using and assessing environmentally friendly technologies in the development of its copper project, Deep-
South embraces the green revolution.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in thepolicies of the
TSX VentureExchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
Information contained in this news release which are not statements of historical facts may be "forward-looking
information" for the purposes of Canadian securities laws. Such forward-looking information involves risks,
uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward looking information. The words "believe", "expect",
"anticipate", "contemplate", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule", "understand" and
similar expressions identify forward-looking information. These forward-looking statements relate to, among other
things: the Minister's refusal to renew the Company's Licence, the Company's intention to contest the Minister's decision
before the Courts of
Namibia
and the outcome of such proceedings.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered
reasonable by Deep-South, are inherently subject to significant technical, political, business, economic and competitive
uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those
projected in the forward-looking information. Factors and assumptions that could cause actual results or events to differ
materially from current expectations include, among other things: political risks associated with the Company's
operations in
Namibia
; the failure of the Namibian Government to comply with its continuing obligations under the Act to
allow for the renewal of the Licence; the impact of changes in, or to the more aggressive enforcement of, laws,
regulations and government practices; the inability of the Company and its subsidiaries to enforce their legal rights in
certain circumstances. For additional risk factors, please see the Company's most recently filed Management
Discussions & Analysis for its quarter ended ended
February 28, 2021
available on SEDAR at
www.sedar.com
.
There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors
and future events, both known and unknown could cause actual results, performance or achievements to vary or differ
materially from the results, performance or achievements that are or may be expressed or implied by such forward-
looking statements contained herein or incorporated by reference. Accordingly, all such factors should be considered
carefully when making decisions with respect to Deep-South, and prospective investors should not place undue reliance
on forward looking information. Forward-looking information in this news release is made as at the date hereof. The
Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions,
changes in circumstances or any other events affecting such forward-looking information, except as required by
applicable law.
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SOURCE
Deep-South Resources Inc.
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%SEDAR: 00005247E
For further information:
Pierre Léveillé, President & CEO at +1-819-340-0140 or at: [email protected]
CO: Deep-South Resources Inc.
CNW 08:32e 01-DEC-21