The Ministry of Mines and Energy of Namibia Finally
THE MINISTRY OF MINES AND ENERGY OF NAMIBIA FINALLY
FILED ITS DEFENSE ON MAY 17, 2022
VANCOUVER, BC
,
May 20
, 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") has finally filed its defense affidavit on
May 17, 2022
, twenty-six days late.
At the hearing held on
May 18, 2022
, the judge has ordered Deep-South's attorneys to file their replying affidavit to the defense of the Ministry at
the latest on
June 3, 2022
. The judge also ordered that a Case Management hearing will be held on
June 23, 2022
.
The Case Management hearing serves to prepare the final hearing. Several aspects can be discussed at the Case Management hearing such as
settlement prospects, number of days required for the final hearing, any issues that are likely to facilitate a just and speedy disposal of the case.
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:
Pierre Léveillé, President & CEO at +1-819-340-0140 or at: [email protected]
CO: Deep-South Resources Inc.
CNW 08:00e 20-MAY-22