Ministry of Mines and Energy of Namibia Has Failed Filing
MINISTRY OF MINES AND ENERGY OF NAMIBIA HAS FAILED FILING
ITS DEFENSE ON FEBRUARY 14, 2022
VANCOUVER, BC
,
March 2, 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") have failed to file their defense affidavit as ordered by the High Court of
Namibia
on
November 25, 2021
. The Ministry's counsels stated that they have discovered new documents, which are not part of the record of proceedings. The
Ministry's counsel has requested an extension to file those documents. The legal counsel has filed a joint status report with the court on
February 28,
2022
. Deep South's legal counsel recorded in this status report that the Ministry's counsel previously indicated that a complete record had been filed.
Since the beginning of the procedures, the Ministry has failed providing any evidence supporting the decision of the Minister to not renew the Haib
Copper licence EPL 3140.
Deep-South's legal counsel vigorously oppose the extension request and requested that the judge ensure a just and speedy determination of the case.
The Court will hold another hearing on
March 3, 2022
. The latest request of the Ministry will be considered at that 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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SOURCE
Deep-South Resources Inc.
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%SEDAR: 00005247E
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 11:41e 02-MAR-22