Southern Empire Achieves U.S. Listing Upgrade to the OTCQB Venture Market
Southern Empire Achieves U.S. Listing
Upgrade to the OTCQB Venture Market
VANCOUVER, BC
,
Jan. 21, 2022
/CNW/ - Southern Empire Resources Corp. (Southern Empire)
(TSXV: SMP) (
Frankfurt
: 5RE) (OTCQB: SMPEF) has received approval for its common shares to
be listed, and to trade in
the United States of America
on the OTCQB Venture Market under the
trading symbol "SMPEF". Southern Empire common shares also trade in
Canada
on the TSX
Venture Exchange, symbol "SMP", as well as in
Germany
on the Börse
Frankfurt
, symbol "5RE".
The OTCQB Venture Market, operated by the OTC Markets Group Inc. of
New York, NY
is the
premier marketplace for early stage and developing U.S. and international companies. It is
recognized by the United States Securities and Exchange Commission as an established market,
providing public information for analysis and valuation of securities. American investors can find
quotes for, and information about Southern Empire at
https://www.otcmarkets.com/stock/SMPEF/
.
Dale Wallster
, CEO of Southern Empire commented, "
We upgraded our listing from the OTC pink
sheets to the OTCQB based on feedback from American investors and changes to regulatory
compliance requirements in
the United States
. Our OTCQB listing should help to increase SMP's
market exposure to American investors, provide them with easier access to trade our shares,
diversify our shareholder base, and enhance our trading liquidity. Considering our key Oro Cruz
Project is in the southwestern
U.S.A.
, the OTCQB listing is of particular relevance for Southern
Empire."
About Southern Empire Resources Corp.
Southern Empire is focused on the acquisition, exploration and development of metals and minerals
deposits in
North America
.
In northeastern Durango State, México, Southern Empire has an option to acquire a 100-per-cent
beneficial interest in the 1,750-hectare (4,324-acre) Pedro Gold Project where 2014 drilling by a
subsidiary of Newmont Mining Corporation encountered epithermal gold mineralization within basal
conglomerates of the Ahuichila Formation. Please see Southern Empire's news release of
July 27,
2021
, for further details.
In the Cargo Muchacho mountains of
Imperial County, California
, Southern Empire owns 100 percent
of the historical gold-producing American Girl mine property and holds options to acquire a 100
percent interest in the adjacent 2,160-hectare (5,338-acre) Oro Cruz property located approximately
22.5 kilometres (14 miles) southeast of the operating Mesquite gold mine of Equinox Gold Corp.
At Oro Cruz, extensive historical drilling and large-scale open-pit and underground mining of the
American Girl, Padre y Madre, Queen, and Cross oxide gold deposits by the American Girl Mining
Joint Venture (AGMJV; ultimately owned 53 percent by MK Gold Company and 47 percent by Hecla
Mining Company) occurred between 1987 and 1996. During that time, gold was recovered by either
heap leaching of lower-grade, or milling of higher-grade ores until AGMJV operations ceased in late
1996 because of declining gold prices leaving the Oro Cruz property with many gold exploration
targets in addition to a historical inferred resource estimate, reported In 2011 by Lincoln Mining
Corp., totaling 341,800 ounces gold based on 4,386,000 tonnes averaging 2.2 grams gold per tonne
(g/t Au) at a cut-off grade of 0.68 g/t Au (4,835,000 tons at 0.07 ounce gold per ton; Please refer to
the Cautionary Notice Regarding the Oro Cruz Property Historical Resource Estimate below).
On behalf of the Board of Directors of Southern Empire Resources Corp.,
Dale Wallster
, CEO and Director
For further information on Southern Empire please visit:
www.smp.gold
and
SEDAR
Cautionary Notice on Forward-Looking Information
Information provided in this news release may contain forward-looking information or forward-looking
statements that are based on assumptions as of the date of this news release. Such information or
statements reflect management's current estimates, beliefs, intentions, and expectations and are not
guarantees of future performance. Southern Empire cautions that all forward-looking statements are
inherently uncertain and that actual performance may be affected by many material factors, many of
which are beyond its respective control. Such factors include, among other things: risks and
uncertainties relating to Southern Empire's limited operating history, the need to comply with
environmental and governmental regulations, results of exploration programs on its projects, and
those risks and uncertainties identified in its annual and interim financial statements and management
discussion and analysis. Accordingly, actual and future events, conditions, and results may differ
materially from the estimates, beliefs, intentions, and expectations expressed or implied in the
forward-looking information. Except as required under applicable securities legislation, Southern
Empire undertakes no obligation to publicly update or revise forward-looking information.
Cautionary Notice Regarding Historical Resource Estimate
The Oro Cruz Project historical resource estimate outlined above is disclosed in a technical report
dated
April 29, 2011
, prepared for Lincoln Mining Corp. by Tetra Tech, Inc. and filed on Canadian
Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR). It is
termed an inferred mineral resource, which is a category set out in NI 43-101. It was based on
historical reverse circulation and core drill hole sample, underground channel sample, and blasthole
sample assay results and calculated using ordinary kriging to estimate gold grades in 10-foot-by-10-
foot-by-five-foot blocks. Accordingly, Southern Empire considers this historical estimate reliable as
well as relevant as it represents key targets for future exploration work. However, a Qualified
Person has not done sufficient work to verify or classify the historical estimate as a current mineral
resource and Southern Empire is not treating this historical estimate as current mineral resources.
Work Programs During the COVID-19 Pandemic
The timing of Southern Empire's exploration programs will be contingent on governmental regulations
regarding the COVID-19 pandemic and also the availability of exploration-related personnel, drill
contractors, equipment, lodging, et cetera. Southern Empire will adhere to COVID-19 directives
regarding safe working practices putting worker, community and national safety first and will
proceed with exploration and development work programs only if potential COVID-19 risks can be
effectively managed.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Exchange) accept responsibility for the adequacy or accuracy
of this release.
SOURCE
Southern Empire Resources Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2022/21/c7226.html
%SEDAR: 00044214E
For further information:
Lubica Keighery, (778) 889-5476, [email protected]
CO: Southern Empire Resources Corp.
CNW 08:47e 21-JAN-22