Ministry of Mines and Energy of Namibia Fails to File New Documents IN the High Court of Namibia
MINISTRY OF MINES AND ENERGY OF NAMIBIA FAILS TO FILE NEW
DOCUMENTS IN THE HIGH COURT OF NAMIBIA
VANCOUVER, BC
,
March 15, 2022
/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") filed additional documents as part of the review record. However, the documents filed do not provide any
evidence supporting the decision of the Minister not to renew the Haib Copper licence EPL 3140.
The judge had previously granted an extension to the Ministry to file the documents they stated to have recently discovered and that were not part of the
record of proceedings. The Ministry had until March 11, 2022, to complete their filing. The documents they filed on
11 March 2022
are copies of documents
contained in previous filings or pertaining to previous licence tenures.
The next hearing in court will be held on
March 22, 2022
. The next step in the legal proceedings will be considered at the upcoming hearing.
The Company will provide regular updates in this regard and any other matter concerning this situation.
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
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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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:
CO: Deep-South Resources Inc.
CNW 09:40e 15-MAR-22