TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, April 5,
2022 /CNW/ - DESERT MOUNTAIN ENERGY CORP.
(the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01)
From the President of the Company.
As DME continues on its path to production, the Company would
like to make an update on the progress through to the start of
Q3.
CRITICAL GLOBAL HELIUM SHORTAGE:
1. The Russian Amur Complex fires and explosion has removed a
projected source of up to 25% of global helium demand.
2. The US Government (BLM) has suspended production at their
Amarillo, TX plant that operates
and maintains a helium storage reservoir, enrichment plant, and
pipeline system. This plant was responsible for over 40% of the
domestic demand for helium.
3. Helium sources from Algeria
and Qatar have also had
issues.
* Due to this critical shortage, the Specialty Gas Suppliers
have declared Force Majeure and cancelled all supply contracts
resulting in helium increasing 300% in price over the last 6
weeks.
PATH TO PRODUCTION
· In 2022, DME has set and cemented casing in 3 holes, Wells 5,
6 & 7
- Wells 4, 5, 6 & 7 have outlined the perimeters of the
McCauley Helium Field, the Company is confident that we own all
necessary leases
- The court case, specifically the Temporary Restraining Order
(TRO), launched by the City of Flagstaff has been successfully
overturned unanimously by the appellate court in DME's favor
- The AGM confirmed shareholder confidence in the Management and
Board over 26 million shares voted over 98% in favor.
- The Company still has over $18
million in the treasury and is confident in achieving
positive cash flow without further financing
Q2, 2022
- Completion of the gathering system for wells in the McCauley
Helium Field is scheduled to begin at the end of April 2022
- Testing and publishing the results of Wells 5, 6 & 7 is
scheduled for the end of April
2022
- The modular buildings that will house the finishing facility
have been fabricated and delivered to the contractor. All the
materials for the mechanical portion of the processing facilities
have been delivered, and assembly of the plant is scheduled to
begin by the end of the month. We anticipate delivery of the
remaining components of the electronic controls to be delivered by
mid-May.
"We continue to move forward on the road to production with our
world-class, zero-carbon processing facility," says Robert Rohlfing, CEO of Desert Mountain Energy
Corp. "In a world experiencing critical shortages of helium supply,
our team is excited to be moving forward and become part of the
solution by supplying helium to domestic end-users. We anticipate
and look forward to cash flow generation and rewarding our
shareholders for their continued support."
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-corporate-update-301517364.html
SOURCE Desert Mountain Energy Corp.