Vancouver, British Columbia — DESERT MOUNTAIN ENERGY CORP. (the “Company”) (TSX.V: DME) is pleased to announce that it has acquired an additional 3169 acres under lease for helium, oil and natural gas in the prolific Holbrook Basin of eastern Arizona. The leases were acquired directly from the Arizona Department of Land. They are situated in Coconino County, Arizona, in the Company’s Heliopolis project area in close proximity to its other holdings. They serve to further consolidate the Company’s property position in that area.
The addition of these 3169 acres brings the Company’s total acreage under lease in the Holbrook Basin to 42,911 when added to the 39,742 acres already under lease from the Arizona Department of Land and the U.S. Bureau of Land Management. The Company initiated its exploration and land acquisition program in the Holbrook Basin in the fourth quarter of 2017.
The leases in this last tranche are highly prospective for helium. They are characterized by anticlinal features, monoclines and other geological structures with surface expression, together with reservoir rocks and salt and anhydrite cap rocks, giving them potential to serve as trapping mechanisms for commercially significant helium reservoirs.
The Company continues to be focused on development of its flagship Heliopolis helium project in Arizona’s Holbrook Basin and is presently readying applications for drill permits. At the same time, it is also preparing a drill program at its Kight-Gilcrease Sand Unit helium, oil & gas project in Seminole County, Oklahoma.
According to Irwin Olian, CEO of the Company, “We are very appreciative of the continuing efforts of our Technical Team headed by Robert Rohlfing to continue to search out and acquire the most promising additional helium properties in the U.S. Southwest to add value for our shareholders. This effort is ongoing and an integral part of the Company’s long-term growth plans.”
About Desert Mountain Energy
The Company is an exploratory resource company engaged in exploration and development of helium, oil & gas and mineral properties in the Southwestern United States. Until September 5, 2018, the Company also owned the Yellowjacket Gold Project in Atlin, British Columbia, which it had been developing. The Company has its executive offices in Vancouver, Canada. The Company was incorporated under the laws of the Province of British Columbia, on April 30, 2008, and was formerly named African Queen Mines Ltd. It initially received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.
On Behalf of the Board of Directors of Desert Mountain Energy Corp.
Chairman & CEO
For more information, contact:
President and CEO
E-mail: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. 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.