U.S. OTC: DMEHF
VANCOUVER, BC, Oct. 3, 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 it has signed a Joint
Operating Agreement (JOA) with Beam Earth Ltd. The JOA initially
encompasses the shallow hydrogen zones found while drilling in the
McCauley helium field. The agreement provides for the
Company's continued ability to remain focused on its helium
prospects, whilst utilizing Beam Earth ltd. expertise in hydrogen.
Furthermore, this agreement provides the basis for opportunities
for other JOA's with Beam in jurisdictions outside of
"The cooperation of our technical teams provides a like-minded
approach to exploration, development and production of helium and
the emerging technologies surrounding the optimization of lower
cost, naturally occurring hydrogen," says Robert Rohlfing, CEO of Desert Mountain Energy
Corp. "We look forward to working together with Beam Earth on the
complexity of the geological settings and specific geophysical
options required to be able to repeatedly duplicate successful
The Company has tested two zones in the Gunnar Dome well and
found helium. The gaseous composition of that specifically tested
interval would not be compatible for production with the planned
McCauley Helium Processing Facility. Therefore, the Company is
scheduling the rig and associated equipment to come out, isolate
the tested zone and complete the well into another zone where
helium was seen on the mass spectrometer without the inclusion of
other noble gases. DME will advise upon completion of that
The Company would also advise that it has filed a counterclaim
for damages in regards to the original injunctive action by the
City of Flagstaff. The Company will only comment as appropriate in
this matter. A copy of the filing may be found online, at the
Coconino County Clerks' office.
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.