Desert Mountain Energy Reports Release of Favorable Drill Results By Brixton Metals Corp. with Sharp Increase in Brixton's Share Price
July 16, 2019 - Desert Mountain Energy Corp. (the "Company") (TSXV:DME) is pleased to announce that Brixton Metals Corp.(TSX.V: BBB) ("Brixton") has released favorable drill results from its Thorn property in B.C's Golden Triangle by Press Release dated July 15, 2019. The results included an intersection of 554.70 m of 1.97 g/t AuEq, including 135.96 m of 1.35 g/t Au, 0.31% Cu, 133.62 g/t Ag or 5.00 g/t AuEq at its Camp Creek porphyry prospect. Following dissemination of the Press Release, Brixton's share price increased sharply in active trading on the TSX Venture Exchange, rising approximately 81 % to close up $0.105 to $0.235 per share on reported consolidated trading volume of 10.8 million shares.
The Company presently owns 4.2 Million Common Shares of Brixton which it acquired in August, 2018 in the sale of its Yellowjacket Gold Project in Atlin, B.C. to Brixton, which represents 4.65% of the approximately 90,267,000 Common Shares of Brixton presently issued and outstanding. This is a material investment for the Company and the increased share price and liquidity of Brixton Shares arising from the successful drill program at Thorn tend to increase shareholder values for the Company. Management of the Company wishes to refer investors to the Brixton Press Release dated July 15, 2019 for further information.
The Company's field operations in Arizona to finalize targets for its upcoming drill
Program in the Holbrook Basin are proceeding well and will be completed shortly. An update will be provided in the near future.
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.
"Irwin Olian"
Irwin Olian
Chairman & CEO
For more information, contact:
| Irwin Olian, President and CEO E-mail: tigertail@desertmountainenergy.com Phone: (604) 788-0300 | |
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.
