Vancouver, British Columbia — Desert Mountain Energy Corp. (DME-TMX.V) is pleased to announce that it has entered into an agreement with Earl Resources Ltd. (ERL-TMX.V), to provide geologic, land, well planning, drilling and completion for the purposes of developing bedded and domal salt cavern energy storage in Arizona and the southwest.
The Company will be reimbursed for all expenses and a modest handling charge. For those efforts the Company will receive a carried override position on any projects without any financial input. Likewise, if during drilling operations for Earl Resources Ltd., helium is discovered, then Earl Resources Ltd. will have an equivalent carried position on any production by the Company.
“DME is pleased to announce the joint venture with Earl Resources Ltd. and the opportunity to participate in their energy storage business,” says Robert Rohlfing, CEO of Desert Mountain Energy Corp. “The expansion of the DME team has provided the resources to contribute to the joint venture and participate in its future success. Our treasury is committed to our plan of becoming a vertically integrated helium producer with the discovery of the McCauley Field and our decision to put it into production in 2022. DME intends to produce, process and sell finished processed helium directly to domestic helium consumers in the US.”
The Company is excited to provide these services and looks forward to development of our long-term strategic goals in the Southwestern United States. Furthermore, the Company has acquired specific leases and will be assigning those to Earl Resources Ltd. Currently all the leases to be assigned fall outside of the Company’s current operational area.
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded exploration and resource company focused on the discovery and development of rare noble and hydrogen gas fields in the U.S. The Company is primarily looking for elements deemed critical to the renewable energy and high technology industries.