U.S. OTC: DMEHF
VANCOUVER, BC, July 11,
2022 /CNW/ - DESERT MOUNTAIN ENERGY
CORP. (the "Company") (TSXV: DME) (OTC: DMEHF)
(Frankfurt: QM01) From the President of the Company.
The Company is pleased to announce that the rig has been
released to us and will be mobilized to our Gunnar Dome prospect in Arizona. The intended depth of this well is
4,500'+- and is designed to test all zones to the top Granite
Formation. We will be utilizing our same successful drilling
procedures, including multiple casing strings designed to protect
all zones and the environment. Our geologic modelling suggests that
the gas composition should contain high concentrations of nitrogen.
At this point, we would anticipate initially running any commercial
quantities of helium through the plant currently under construction
The Company feels that since this is a documented domal
structure with closure on all sides the well has been situated to
take maximum advantage of the trapping mechanisms of the underlying
The helium processing plant construction continues and assembly
by GENERON will be shipped to us via our trucking company upon
completion. When finished, the plant will be situated on
property that the Company currently owns and is not subject to any
form of lease agreements. The Company continues to be contacted by
numerous entities looking to secure some percentage level of helium
from us when we go into production. As of today, other than for the
USFCR documents to allow us to get paid the same day as transport,
we have not signed any long-term contracts. We have multiple
ongoing discussions with company's whom we have signed MDNAs and
therefore, will not be making any comments concerning those
negotiations or the methodology for pricing. It is our goal to have
no account receivables in relation to helium production.
With regards to future hydrogen production, we have signed MDNAs
and are actively working to develop a long-term strategy and look
forward to having announcements on that sector within the next
30-45 days. This sector by its very nature must be considered as a
long-term possible factor for the Company.
The Company was notified by Chevelon Minerals LLC., the owner of
the McCauley family minerals, that a company which had previously
attempted to lease from the family was making a claim that a valid
lease with them was already in play.
The Company, early in its due diligence with Chevelon Minerals
LLC., had been advised by the McCauley family that, after the
material requirements of this prior lease had not been met, they
had restructured their mineral ownership and placed the leases in
question into Chevlon Minerals LLC. The representative also
stated that they would work with the company in defence of the
title and leases that Desert Mountain Energy Corp. has with them.
For the record, the Company has paid Chevelon Minerals LLC. in
excess of $33,000.00 for the leases
it currently has of record which includes the lease under wells 4,
5, 6, and 7.
ABOUT DESERT MOUNTAIN
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
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
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.
SOURCE Desert Mountain Energy Corp.