VANCOUVER, BC, May 20,
2022 /CNW/ - Deep-South Resources Inc. ("Deep-South"
or "the Company") (TSXV: DSM) reports that the legal counsel of the
Ministry of Mines and Energy of Namibia ("Ministry") has finally filed its
defense affidavit on May 17, 2022,
twenty-six days late.
At the hearing held on May 18,
2022, the judge has ordered Deep-South's attorneys to file
their replying affidavit to the defense of the Ministry at the
latest on June 3, 2022. The judge
also ordered that a Case Management hearing will be held on
June 23, 2022.
The Case Management hearing serves to prepare the final hearing.
Several aspects can be discussed at the Case Management hearing
such as settlement prospects, number of days required for the final
hearing, any issues that are likely to facilitate a just and speedy
disposal of the case.
The Company will provide regular updates in this regard and any
other matter concerning this situation.
About Deep-South Resources
Deep-South Resources is a mineral exploration and development
company. Deep-South 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. In using
and assessing environmentally friendly technologies in the
development of its copper project, Deep-South embraces the green
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 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
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 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 law.
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SOURCE Deep-South Resources Inc.