VVC Exploration Adds New Property in Colorado, Further Growing Helium Portfolio
29 Abril 2021 - 7:00AM
VVC Exploration Corporation ("
VVC" or the
"
Company") (TSX-V:VVC) announces the addition of a
new gas property in its wholly owned subsidiary, Plateau Helium
Corporation ("PHC"), a Wyoming corporation. The transaction
bolsters VVC’s helium portfolio and its ability to capitalize on
the growing demand for helium, driven by increased global usage.
The property, known as the Syracuse Extension 1,
was purchased at a nominal cost and a commitment to commence
production, with the seller retaining a 2% royalty in the property.
In addition to the 2% royalty, standard industry royalties of 12.5%
are payable to arm's length land owners from the proceeds of any
production. PHC owns a 100% operated working interest in the
Syracuse Extension 1 lease subject to the royalties.
Extension 1 is a 320-acre property located in
Cheyenne County, Colorado and includes 2 gas wells drilled in
1989-1990 which were never put into production. This property is
adjacent to the Tumbleweed Midstream pipeline which is linked to a
helium processing plant. Both wells contain methane and helium. At
the time of drilling, one well had tested over 2,000 mcf per day
and the other, over 3,000 mcf per day, of helium rich gas.
These historical results have not been verified by PHC or any other
independent party.
Jim Culver, VVC’s CEO stated that "This lease
acquisition adds to the more than 15,000 acres of Syracuse and
Monarch leases in the PHC portfolio. It represents the Company’s
opportunistic strategy of acquiring selective potential helium
properties which we believe can be brought into production quickly
and inexpensively and can be managed by the local team managing the
Syracuse field. This property will be included in our Syracuse
field development plans, with the current expectation of gas
production to begin from Syracuse Extension 1 in Q4 of 2021."
About VVC Exploration
Corporation
VVC is a publicly traded Canadian exploration
and mining company listed on the TSX Venture Exchange (TSX-V:VVC).
VVC’s portfolio includes the Gloria Copper Project in Northern
Mexico, precious metals properties also in Mexico and the Helium
Projects owned by its wholly owned subsidiary, Plateau Helium
Corporation ("PHC"). VVC is currently focused on the development of
Gloria Copper Project, as well as the Helium Projects owned by PHC.
Visit our website at: http://vvcexpl.com.
On behalf of the Board of Directors
Michel J. Lafrance, Secretary-Treasurer
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For further information, please contact: |
Patrick Fernet - (514) 631-2727 |
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Trevor Burbank - (214) 641-1041 |
pfernet@vvcexploration.com |
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trevor@vvcexpl.com |
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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Town, Scarborough, ON M1N 4E7 – Tel:
416-619-5304
FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking
information" (within the meaning of applicable Canadian securities
laws) and "forward-looking statements" (within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995). Such
statements or information are identified with words such as
"anticipate", "believe", "expect", "plan", "intend", "potential",
"estimate", "propose", "project", "outlook", "foresee" or similar
words suggesting future outcomes or statements regarding an
outlook. Such statements include, among others: commitment to
commence production; which we believe can be brought into
production quickly and inexpensively; will be included in our
Syracuse field development plans; current expectation of gas
production to begin in Q4 of 2021; etc.
Such forward-looking information or statements
are based on a number of risks, uncertainties and assumptions which
may cause actual results or other expectations to differ materially
from those anticipated and which may prove to be incorrect.
Assumptions have been made regarding, among other things,
management's expectations regarding acquisitions, production of
helium and other gases, future development and growth, plans for
and completion of projects by Company’s third-party relationships,
availability of capital, and the necessity to incur capital and
other expenditures. Actual results could differ materially due to a
number of factors, without limitation, operational risks in the
completion of Company’s anticipated projects, delays or changes in
plans with respect to the development of Company’s anticipated
projects by Company’s third-party relationships, risks related to
Covid-19, risks affecting the ability to develop projects, risks in
legislative changes in the applicable jurisdictions, risks in
decrease of price of helium. No assurances can be given that the
efforts by Company will be successful.
Although the Company believes that the
expectations reflected in the forward-looking information or
statements are reasonable, prospective investors in the Company's
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information
and statements contained in this news release are as of the date of
this news release and the Company assumes no obligation to update
or revise this forward-looking information and statements, except
as required by law.
Investors are cautioned that notwithstanding the
expectations described herein, there can be no assurance that the
plans described herein will be completed as proposed. Trading in
the securities of VVC should be considered highly
speculative. All forward-looking statements contained in this
press release are expressly qualified in their entirety by these
cautionary statements and by those made in our filings with SEDAR
in Canada (available at www.sedar.com).
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