VANCOUVER, BC, June 19,
2023 /CNW/ - Deep-South Resources Inc.
("Deep-South" or the Company) (TSXV: DSM) announces that
since the verdict ordering the Ministry of Mines and Energy of
Namibia ("Ministry") to re-open
the renewal application procedure of 2021, the Haib Copper Licence
EPL 3140 has been reinstated by the Ministry with the status
"pending renewal".
The application procedure is well advanced and we expect a final
decision in the coming weeks. As the licence has been reinstated,
pending renewal on the Mining Cadastre of the Ministry, officials
of the Ministry have invited the Company to resume exploration work
at any time. However, Management considers it is prudent to await
the renewal decision before resuming work.
Pierre Leveille, President
& CEO of Deep-South stated: "We are confident that
the licence will be renewed in a timely manner. We have visited the
site last week in order to prepare resumption of exploration and to
be ready to start the work quickly when the
final decision will be rendered ".
About Deep-South Resources
Inc.
Deep-South Resources is a mineral exploration and development
company. Deep-South's growth strategy is to focus on the
exploration and development of quality assets in significant
mineralized trends and in proximity to infrastructure in stable
countries. The Company holds the Haib Copper project in
Namibia and holds an interest in
three exploration licences in the Copperbelt in Zambia. In using and assessing environmentally
friendly technologies in the development of its copper projects,
Deep-South embraces the green revolution.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Caution Regarding Forward-Looking Information
Information contained in this news release which are not
statements of historical facts may be
"forward-looking information" for the purposes of
Canadian securities laws. Such forward-looking information involves
risks, uncertainties and other factors that could cause actual
results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward looking
information. The words "believe",
"expect", "anticipate",
"contemplate", "plan",
"intends", "continue",
"budget", "estimate",
"may", "will",
"schedule", "understand" and similar
expressions identify forward-looking information. These
forward-looking statements relate to, among other things: the
Minister's refusal to renew the
Company's Licence, the Company's
intention to contest the Minister's decision before
the Courts of Namibia and the
outcome of such proceedings.
Forward-looking information is necessarily based upon a
number of estimates and assumptions that, while considered
reasonable by Deep-South, are inherently subject to significant
technical, political, business, economic and competitive
uncertainties and contingencies. Known and unknown factors could
cause actual results to differ materially from those projected in
the forward-looking information. Factors and assumptions that could
cause actual results or events to differ materially from current
expectations include, among other things: political risks
associated with the Company's operations in
Namibia; the failure of the
Namibian Government to comply with its continuing obligations under
the Mining Act to allow for the renewal of the Licence; the impact
of changes in, or to the more aggressive enforcement of, laws,
regulations and government practices; the inability of the Company
and its subsidiaries to enforce their legal rights in certain
circumstances. For additional risk factors, please see the
Company's most recently filed Management Discussions
& Analysis available on SEDAR at www.sedar.com.
There can be no assurances that forward-looking information
and statements will prove to be accurate, as many factors and
future events, both known and unknown could cause actual results,
performance or achievements to vary or differ materially from the
results, performance or achievements that are or may be expressed
or implied by such forward-looking statements contained herein or
incorporated by reference. Accordingly, all such factors should be
considered carefully when making decisions with respect to
Deep-South, and prospective investors should not place undue
reliance on forward looking information. Forward-looking
information in this news release is made as at the date hereof. The
Company assumes no obligation to update or revise forward-looking
information to reflect changes in assumptions, changes in
circumstances or any other events affecting such forward-looking
information, except as required by applicable legislation.
Web site: http://www.deepsouthresources.com
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SOURCE Deep-South Resources Inc.
