High Court of Namibia Orders the Ministry of Mines to File Documents with
High Court of Namibia Orders the Ministry of Mines to File Documents with
the Court Before October 10, 2021
VANCOUVER, BC
,
Sept. 24, 2021
/CNW/ - Deep-South Resources Inc. ("Deep-South" or "the Company") (TSXV: DSM) reports that at the Court hearing on
September 16, 2021
, the High Court of
Namibia
ordered the Ministry of Mines and Energy of
Namibia
to file the documents supporting the decision of the Minister
to refuse the Haib Copper licence renewal. After the filing of the Ministry's documents, Haib Minerals (the subsidiary of Deep-South holding the licence) will have
until
October 21, 2021
to supplement or amend its own documents filed on
July 20, 2021
.
The Court will hold another hearing on
October 28, 2021
, 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.
As disclosed in our press release dated
June 16, 2021
, the Company had received notice from the Ministry informing the Company that its application for the
renewal of its EPL had been denied citing the Company's inability to advance the EPL to Pre-Feasibility and complete the proposed drilling program as planned.
The Company maintains that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility study to an
upgraded
Preliminary Economic Assessment (PEA) and commencement of a full feasibility study
.
The latter was already started at the time of the
refusal.
Moreover, the Ministry issued all permits required for the drilling program and are well aware that Deep-South has completed the drilling program.
As a result of the Minister's refusal to renew the Licence, the Company terminated all work on site and proceeded with the retrenchment of its employees on site.
The Company is vigorously contesting the decision by all means necessary and available under the
Minerals (Prospecting and Mining) Act
(the "Act") and other
applicable laws of Namibia. In its application for renewal and subsequent representations made to the Ministry, the Company maintains that it clearly
demonstrated having met all criteria under the Act to justify the renewal of its Licence.
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 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 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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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 08:10e 24-SEP-21