Mr. Pierre Leveille reports

DEEP-SOUTH CLOSED THE OVERSUBSCRIBED PRIVATE PLACEMENT TOTALING $2,068,729

Deep-South Resources Inc. has closed the second tranche of its oversubscribed non-brokered private placement for an amount totalling $1,803,282. The first tranche closed Sept. 6, 2023, for an amount of $265,447. The two tranches together total $2,068,729.

In aggregate, the two tranches of the private placement comprise 31,826,596 units of Deep-South, at a subscription price of 6.5 cents per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one common share at an exercise price of 10 cents for 24 months from the date of closing of the placement. Each security issued has a mandatory four-month hold period from the date of closing of the placement.

The company has paid finders fees totalling $123,207 and 1,895,310 broker warrants. The broker warrants have an exercise price of 6.5 cents for 24 months from the date of closing of the placement. Each broker warrant entitles the holder to purchase one common share.

The proceeds of the private placement will be used for further exploration on the projects in Namibia and Zambia and for general working capital.

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.