Haib Copper: Licence Renewal Update
HAIB COPPER: LICENCE RENEWAL UPDATE
VANCOUVER, BC
,
June 19, 2023
/CNW/ - Deep-South Resources Inc. ("
Deep-South
" or the
Company) (TSXV: DSM) announces that since the verdict ordering the Ministry of Mines and Energy
of
Namibia
("Ministry") to re-open the renewal application procedure of 2021, the Haib Copper
Licence EPL 3140 has been reinstated by the Ministry with the status "pending renewal".
The application procedure is well advanced and we expect a final decision in the coming weeks. As
the licence has been reinstated, pending renewal on the Mining Cadastre of the Ministry, officials of
the Ministry have invited the Company to resume exploration work at any time. However,
Management considers it is prudent to await the renewal decision before resuming work.
Pierre Leveille
, President & CEO of Deep-South stated
:
"We are confident that the licence will
be renewed in a timely manner. We have visited the site last week in order to prepare resumption
of exploration and to be ready to start the work
quickly
when the final decision will be rendered
"
.
About Deep-South Resources Inc.
Deep-South Resources is a mineral exploration and development company. Deep-South's 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. The Company holds the Haib Copper
project in
Namibia
and holds an interest in three exploration licences in the Copperbelt in
Zambia
. In
using and assessing environmentally friendly technologies in the development of its copper projects,
Deep-South embraces the green revolution.
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.
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 Mining 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 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
legislation.
Web site:
http://www.deepsouthresources.com
View original content to download multimedia:
https://www.prnewswire.com/news-releases/haib-copper-licence-renewal-update-301854132.html
SOURCE
Deep-South Resources Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/June2023/19/c6699.html
%SEDAR: 00005247E
For further information:
More information is available by contacting Pierre Léveillé, President &
CEO at +1-819-340-0140 or at: [email protected]
CO: Deep-South Resources Inc.
CNW 07:33e 19-JUN-23