Mr. Pierre Leveille reports

DEEP-SOUTH ANNOUNCES PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO C$2,000,000

Deep-South Resources Inc. has arranged a non-brokered private placement for the sale of up to 30,769,231 units of the company at a price of 6.5 cents per unit for gross proceeds of up to $2-million. Red Cloud Securities Inc. will be acting as a finder in connection with the offering.

Each unit will be composed of one common share of the company and one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one common share at a price of 10 cents for a period of 24 months from the issue date of the unit.

The net proceeds from the offering will be used for the advancement of the Haib copper project in Namibia, its exploration properties in Zambia and for general working capital purposes.

The offering is expected to close in two tranches, with the closing of the initial tranche expected to occur on or about Aug. 30, 2023, and the closing of the final tranche is expected to occur in mid-September, 2023. The closing of the offering is subject to receipt of all necessary regulatory approvals, including the approval of the listing of the common shares issuable from the sale of the units on the TSX Venture Exchange. The common shares and any common shares issuable from the sale of the units and upon the exercise of the warrants will be subject to a hold period ending on the date that is four months and one day from the issue date of the unit, in accordance with applicable securities laws. A finder's fee may be paid on a portion of the proceeds from the offering.

About Deep-South Resources Inc.

Deep-South Resources 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. The company holds the Haib copper project in Namibia and holds an interest in three exploration licences in the copper belt in Zambia. In using and assessing environmentally friendly technologies in the development of its copper projects, Deep-South embraces the green revolution.