Vancouver, B.C., Canada – April 27, 2022 – Deep-South Resources Inc. (“Deep-South” or “the Company”) (TSX-V: DSM) reports that the legal counsel of the Ministry of Mines and Energy of Namibia (“Ministry”) is late to file its defense affidavit and has requested an extension of 10 days to file its affidavit. The reason invoked by the Ministry’s counsel is that the Minister was out of the country since April 5, 2022 and was to return to his office only on Monday April 25, 2022. Deep-South’s legal counsel indicated that they would be amenable to an extension until April 29, 2022.
Therefore, it is expected that the Ministry will file its defense on April 29, 2022 or at the latest on May 3, 2022. In terms of the current applicable court order Deep-South will have until May 13, 2022 to file its reply to the defense of the Ministry.
The judge has also drawn the attention of the parties to the Part 6 of the Rules of High Court. Part 6 deals with sanctions for failure to comply with the rules, directions or court orders. Sanctions could be applied for failure to respect court orders.
The Court will hold another hearing on May 18, 2022, to define the further procedures with regard to the review of the decision of the Minister to deny the renewal of the exploration license Haib Copper EPL 3140.
The Company will provide regular updates in this regard and any other matter concerning this situation.
About Deep-South Resources Inc
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 revolution.
More information is available by contacting Pierre Léveillé, President & CEO at
+1-819-340-0140 or at: info@koryxcopper.com
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 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.
