Cision PR Newswire
DESERT MOUNTAIN ENERGY ENTERS INTO AGREEMENT WITH BEAM EARTH LTD. FOR HYDROGEN PRODUCTION
News provided byDesert Mountain Energy Corp.
Jul 18, 2022, 3:00 AM ET
U.S. OTC: DMEHF
VANCOUVER, BC, July 18, 2022 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.
The Company is pleased to announce they have entered into an agreement with Beam Earth Ltd. to cooperate and define the commercial possibilities of the Company's sulphur-free hydrogen discoveries. Beam Earth Ltd. has expertise in cost-effective and innovative methods to produce hydrogen-related products which meld together with the Company's innovative helium processing facilities. This agreement not only encompasses current Company holdings in Arizona but will also be expanded into other jurisdictions.
"We look forward to working with a like-minded company that, by design, is also seeking to follow innovative design and ESG policies," says Robert Rohlfing, CEO of Desert Mountain Energy Corp. "Beam Earth Ltd. has extensive expertise in the hydrogen sector and teaming up with them allows DME to stay focused on the production of helium while at the same time monetizing the potential of our sulphur-free hydrogen assets."
The Company has proven its ability to find both helium, hydrogen and other noble gases and anticipates that formal separate joint operating agreements will be put into place to cover the specifics for each jurisdiction as they arise. Those specifics will include, geophysical, the scope of the individual project, timing, drilling, testing, participation level based on results, near term and ongoing operational attributes. The Company's helium processing facility was designed to reduce power consumption by 55% and DME looks forward to the application of the same innovative design input into their hydrogen processing.
Desert Mountain Energy Corp. is a publicly traded resource company primarily focused on exploration, development and production of helium, hydrogen and noble gases. The Company is primarily looking for elements deemed critical to the renewable energy and high technology industries.
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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.
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.
SOURCE Desert Mountain Energy Corp.