Mr. Pierre Leveille reports

DEEP-SOUTH IDENTIFY 10 COPPER ANOMALIES AND 13 COBALT ANOMALIES ON THE LUANSHYA WEST PROJECT IN ZAMBIA

Deep-South Resources Inc. has received the complete assay results from the soil sampling program on the Luanshya West project in Zambia.

Pierre Leveille, president and chief executive officer of Deep-South, states: "These results are exciting as they enabled the delineation of several large copper and cobalt anomalies. These results compare favourably to current and past mines on the copper belt, which have held thresholds in the range of 50 parts per million to 150 parts per million, averaging 80 parts per million copper and peak values in the range of 100 parts per million to 450 parts per million copper. We are currently planning further work on the project."

Highlights:

• Ten copper soil anomalies were defined with peak a value of 634 parts per million copper and 13 cobalt soil anomalies have been defined with a peak value of 558 parts per million cobalt in leached soil regimes.
• The five highest soil samples assay results for copper were determined to be 634 parts per million, 602 parts per million, 568 parts per million, 506 parts per million and 446 parts per million.
• The five highest soil samples assay results for cobalt were determined to be 558 parts per million, 282 parts per million, 179 parts per million, 174 parts per million and 159 parts per million.
• Seven hundred ninety-four samples were collected on a primary grid of 500 metres by 100 metres.
• One thousand one hundred ninety-three samples were collected on three infill grids of 100 metres by 100 metres.
• The sampling results are currently being analyzed in detail to plan further exploration work on the project.
• On a preliminary basis, Deep-South plans further soil sampling on tighter grids in order to define drilling targets.

The Luanshya West exploration licence 23246-HQ-LEL is situated in the heart of the Zambian copper belt approximately 29 kilometres west of the Luanshya copper cobalt mine. The licence area covers 5,423.26 hectares (54.24 square kilometres).

Qualified person

Dean Richards PrSciNat, MGSSA, BSc (honours), geology, is the designated qualified person under the terms of National Instrument 43-101, and has reviewed and approved the technical content of this news release.

Other matter -- shareholder approval of new omnibus equity incentive plan

Further to the company's annual and special meeting of its shareholders held on Feb. 28, 2023, the company announces that the shareholders who are considered as disinterested shareholders approved the company's new omnibus equity incentive plan, a copy of which is included and summarized in the company's information circular dated Jan. 13, 2023.

About Deep-South Resources Inc.

Deep-South is a mineral exploration and development company. Deep-South's growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. In using and assessing environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.

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