DESERT MOUNTAIN ENERGY CORP. - CLARIFICATION OF PREVIOUSLY DISCLOSED INFORMATION

Rhea-AI Summary

Desert Mountain Energy Corp. (TSXV: DME) (OTC: DMEHF) has issued a clarification regarding information previously disclosed in its June 19, 2023 news release. The company retracts two key statements:

1. The claim about "elevated helium and hydrogen percentages ranging from 3.863% to 1.374%" in well files.

2. The assertion that "gas tests from 02/23 are instrumental in constructing a proper plan for increasing helium production".

The company states that the February 2023 gas tests cannot be confirmed at this time. This clarification was made at the request of the BC Securities Commission.

Positive

• None.

Negative

• Retraction of previously disclosed helium and hydrogen percentages
• Inability to confirm February 2023 gas tests
• Potential impact on investor confidence due to retraction of information

TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01

VANCOUVER, BC, Aug. 30, 2024 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company. Desert Mountain Energy Corp., at the request of the BC Securities Commission, clarifies information previously disclosed in its news release of June 19, 2023. The Company retracts its statement that "The well files clearly show elevated helium and hydrogen percentages ranging from 3.863% to 1.374%." and its statement that "The gas tests from 02/23 are instrumental in constructing a proper plan for increasing helium production". The February 2023 gas tests cannot be confirmed at this time.

ABOUT DESERT MOUNTAIN ENERGY

Desert Mountain Energy Corp. is a publicly traded resource company primarily focused on the exploration, development and production of helium, hydrogen, natural gas and condensate. The Company is focused on helium extraction from different raw gas sources in an environmental and economic manner supplying elements deemed critical to the renewable energy and high technology industries. 

We seek safe harbor

"Robert Rohlfing"
Robert Rohlfing
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 Forward-Looking Statements
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.

View original content:https://www.prnewswire.com/news-releases/desert-mountain-energy-corp---clarification-of-previously-disclosed-information-302235210.html

SOURCE Desert Mountain Energy Corp.

FAQ

What statements did Desert Mountain Energy Corp (DMEHF) retract in its clarification?

Desert Mountain Energy Corp retracted two statements from its June 19, 2023 news release: 1) The claim about elevated helium and hydrogen percentages in well files, and 2) The assertion that February 2023 gas tests were instrumental for increasing helium production.

Why did Desert Mountain Energy Corp (DMEHF) issue this clarification on August 30, 2024?

The clarification was issued at the request of the BC Securities Commission to address and rectify information that was previously disclosed but could not be confirmed at the time.

What is the current status of the February 2023 gas tests for Desert Mountain Energy Corp (DMEHF)?

According to the clarification, the February 2023 gas tests cannot be confirmed at this time by Desert Mountain Energy Corp.