TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Nov. 17, 2021 /CNW/ - DESERT MOUNTAIN ENERGY
CORP. (the "Company") (TSXV: DME) (U.S. OTC: DMEHF)
(Frankfurt: QM01) From the President of the Company.
The Company is pleased to announce that it has selected GENERON
as the main contractor for the build-out of its first
Solar/Hydrogen powered Helium processing plant, located in
Arizona. Current supply chain
requirements suggest that build-out and delivery will be between
28-30 weeks subject to unforeseeable delivery issues relating to
specific materials. When completed, the processing facility's
internal green power generation capabilities will provide many
years of stable cost-effective operations. Utilization of the solar
and hydrogen aspects to meet the electrical demands provides the
Company with a long-term solution to ever-rising electrical costs.
Further making the Company the first fully vertically integrated,
independent exploration, drilling, production and processing
company focused on Helium and not as a by-product of normal oil
& gas operations. The gas composition results, basically
Helium/Nitrogen and no other noble gases, in both well #4 and #2,
reduced the complexities and amount of required equipment in
addition to lead times for delivery. The lack of high CO2 and other
noble gases has also reduced our plant build capital expenditure by
40%. The Company's excellent financial situation continues without
any requirement for additional financing. Processing facility,
initial site work was completed in September and the final site
work for the self-contained processing facilities will begin in
02/22.
UPDATE OF FUTURE DRILLING OPERATIONS
Management had correctly identified and anticipated COVID
related issues in regards to the increased demand for qualified,
state-approved and licensed subcontractors, not only for the plant
construction, but also for surveying, archaeological assessments,
reviews, road work, and as such, had previously entered into
agreements with the companies needed for the aforementioned work.
The Company expects to shortly have the surveying completed for the
next four wells and associated roads, followed in conjunction with
ongoing archeological studies where applicable. Archeological
review times have been drastically impacted by COVID. Again, the
Company had previously committed to working with the best
archaeologists and will continue to look well beyond the next few
wells with that research. The Company has also previously purchased
casing and associated wellhead equipment for multiple wells,
thereby saving additional monies.
ADDITIONAL BOARD MEMBER ADDED
The Company is pleased to announce that Weldon Stout has been asked and has agreed to
join the Board of Directors. Weldon recently retired from his
position after serving for eight years as a District Court Judge in
Oklahoma. Prior to his appointment
as a judge, his private practice focused on business, estate
planning and Federal Court litigation. He served as both Assistant
District Attorney and then as Chief Prosecutor. He has served on
numerous boards including State Bar Association, City Counsel,
Medical Foundations, Victims Compensation Board, Airport Board as
well as many other non-profit boards. Weldon Graduated from the
University of Oklahoma with a BA in
1971 and from OCU Law School in 1974. Several of his experiences
include water and associated component issues involved with water
along with financial accountability reviews. As the Company moves
forward with plans to up list to NASDAQ in 2022, Weldon's addition,
adds another strong independent person to the Board.
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded resource
company primarily focused on exploration, development and
production of helium, hydrogen and noble gases. The Company is
primarily looking for elements deemed critical to the renewable
energy and high technology industries.
We seek safe harbor
"Robert Rohlfing"
Robert
Rohlfing
Exec Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in polices of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The statements made in this press release may contain
certain forward-looking statements that involve a number of risks
and uncertainties. Actual events or results may differ from
the Company's expectations.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Such forward looking statements and information herein include but
are not limited to statements regarding the Company's anticipated
performance in the future the planned exploration activities,
receipt of positive results from drilling, the completion of
further drilling and exploration work, and the timing and results
of various activities.
Forward-looking statements or information involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company and its operations to be materially different from
those expressed or implied by such statements. Such factors
include, among others, changes in national and local governments,
legislation, taxation, controls, regulations and political or
economic developments in Canada
and the United States; financial
risks due to helium prices, operating or technical difficulties in
exploration and development activities; risks and hazards and the
speculative nature of resource exploration and related development;
risks in obtaining necessary licenses and permits, and challenges
to the Company's title to properties.
Forward-looking statements are based on assumptions
management believes to be reasonable, including but not limited to
the continued operation of the Company's exploration operations, no
material adverse change in the market price of commodities, and
such other assumptions and factors as set out herein. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements or information, there may be other
factors that cause results to be materially different from those
anticipated, described, estimated, assessed or intended. There can
be no assurance that any forward-looking statements or information
will prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance
on forward-looking statements or information. The Company does not
intend to, and nor does not assume any obligation to update such
forward-looking statements or information, other than as required
by applicable law.
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content:https://www.prnewswire.com/news-releases/desert-mountain-energy-selects-processing-plant-builder-301425892.html
SOURCE Desert Mountain Energy Corp.