VANCOUVER, BC, Jan. 21, 2022 /CNW/ - Southern Empire Resources
Corp. (Southern Empire) (TSXV: SMP) (Frankfurt: 5RE) (OTCQB: SMPEF) has received
approval for its common shares to be listed, and to trade in
the United States of America on
the OTCQB Venture Market under the trading symbol "SMPEF". Southern
Empire common shares also trade in Canada on the TSX Venture Exchange, symbol
"SMP", as well as in Germany on
the Börse Frankfurt, symbol
"5RE".
The OTCQB Venture Market, operated by the OTC Markets Group Inc.
of New York, NY is the premier
marketplace for early stage and developing U.S. and international
companies. It is recognized by the United States Securities and
Exchange Commission as an established market, providing public
information for analysis and valuation of securities. American
investors can find quotes for, and information about Southern
Empire at https://www.otcmarkets.com/stock/SMPEF/.
Dale Wallster, CEO of Southern
Empire commented, "We upgraded our listing from the OTC pink
sheets to the OTCQB based on feedback from American investors and
changes to regulatory compliance requirements in the United States. Our OTCQB listing should
help to increase SMP's market exposure to American investors,
provide them with easier access to trade our shares, diversify our
shareholder base, and enhance our trading liquidity. Considering
our key Oro Cruz Project is in the southwestern U.S.A., the OTCQB listing is of particular
relevance for Southern Empire."
About Southern Empire Resources Corp.
Southern Empire is focused on the acquisition, exploration and
development of metals and minerals deposits in North America.
In northeastern Durango State, México, Southern Empire has an
option to acquire a 100-per-cent beneficial interest in the
1,750-hectare (4,324-acre) Pedro Gold Project where 2014 drilling
by a subsidiary of Newmont Mining Corporation encountered
epithermal gold mineralization within basal conglomerates of the
Ahuichila Formation. Please see Southern Empire's news release of
July 27, 2021, for further
details.
In the Cargo Muchacho mountains of Imperial County, California, Southern Empire
owns 100 percent of the historical gold-producing American Girl
mine property and holds options to acquire a 100 percent interest
in the adjacent 2,160-hectare (5,338-acre) Oro Cruz property
located approximately 22.5 kilometres (14 miles) southeast of the
operating Mesquite gold mine of Equinox Gold Corp.
At Oro Cruz, extensive historical drilling and large-scale
open-pit and underground mining of the American Girl, Padre y
Madre, Queen, and Cross oxide gold deposits by the American Girl
Mining Joint Venture (AGMJV; ultimately owned 53 percent by MK Gold
Company and 47 percent by Hecla Mining Company) occurred between
1987 and 1996. During that time, gold was recovered by either heap
leaching of lower-grade, or milling of higher-grade ores until
AGMJV operations ceased in late 1996 because of declining gold
prices leaving the Oro Cruz property with many gold exploration
targets in addition to a historical inferred resource estimate,
reported In 2011 by Lincoln Mining Corp., totaling 341,800 ounces
gold based on 4,386,000 tonnes averaging 2.2 grams gold per tonne
(g/t Au) at a cut-off grade of 0.68 g/t Au (4,835,000 tons at 0.07
ounce gold per ton; Please refer to the Cautionary Notice Regarding
the Oro Cruz Property Historical Resource Estimate below).
On behalf of the Board of Directors of Southern Empire
Resources Corp.,
Dale
Wallster, CEO and Director
For further information on Southern Empire please visit:
www.smp.gold and SEDAR
Cautionary Notice on Forward-Looking Information
Information provided in this news release may contain
forward-looking information or forward-looking statements that are
based on assumptions as of the date of this news release. Such
information or statements reflect management's current estimates,
beliefs, intentions, and expectations and are not guarantees of
future performance. Southern Empire cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by many material factors, many of which
are beyond its respective control. Such factors include, among
other things: risks and uncertainties relating to Southern Empire's
limited operating history, the need to comply with environmental
and governmental regulations, results of exploration programs on
its projects, and those risks and uncertainties identified in its
annual and interim financial statements and management discussion
and analysis. Accordingly, actual and future events, conditions,
and results may differ materially from the estimates, beliefs,
intentions, and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, Southern Empire undertakes no obligation to
publicly update or revise forward-looking information.
Cautionary Notice Regarding Historical Resource
Estimate
The Oro Cruz Project historical resource estimate outlined above
is disclosed in a technical report dated April 29, 2011, prepared for Lincoln Mining Corp.
by Tetra Tech, Inc. and filed on Canadian Securities
Administrators' System for Electronic Document Analysis and
Retrieval (SEDAR). It is termed an inferred mineral resource, which
is a category set out in NI 43-101. It was based on historical
reverse circulation and core drill hole sample, underground channel
sample, and blasthole sample assay results and calculated using
ordinary kriging to estimate gold grades in
10-foot-by-10-foot-by-five-foot blocks. Accordingly, Southern
Empire considers this historical estimate reliable as well as
relevant as it represents key targets for future exploration work.
However, a Qualified Person has not done sufficient work to verify
or classify the historical estimate as a current mineral resource
and Southern Empire is not treating this historical estimate as
current mineral resources.
Work Programs During the COVID-19 Pandemic
The timing of Southern Empire's exploration programs will be
contingent on governmental regulations regarding the COVID-19
pandemic and also the availability of exploration-related
personnel, drill contractors, equipment, lodging, et cetera.
Southern Empire will adhere to COVID-19 directives regarding safe
working practices putting worker, community and national safety
first and will proceed with exploration and development work
programs only if potential COVID-19 risks can be effectively
managed.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Exchange) accept responsibility for the adequacy or accuracy of
this release.
SOURCE Southern Empire Resources Corp.