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Desert Mountain Energy Corp
Symbol DME
Shares Issued 36,645,051
Close 2019-09-10 C$ 0.25
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Desert Mtn buys another 3,169 acres of helium leases

2019-09-11 09:11 ET - News Release

Mr. Irwin Olian reports


Desert Mountain Energy Corp. has acquired an additional 3,169 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 3,169 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 and gas project in Seminole county, Oklahoma.

According to Irwin Olian, chief executive officer 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 Corp.

The company is an exploratory resource company engaged in exploration and development of helium, oil and gas, and mineral properties in the Southwestern United States. Until Sept. 5, 2018, the company also owned the Yellowjacket gold project in Atlin, B.C., 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.

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