An anonymous director reports

UPDATE ON DEEP-SOUTH HAIB COPPER LICENCE RENEWAL APPLICATION

Further to the meeting yesterday with the Minister of Mines and Energy of Namibia and other officials of the Ministry of Mines and Energy, Deep-South Resources Inc. has received a notice from the minister confirming that the company's application for the renewal of its exclusive prospecting licence (EPL) 3140 has been refused.

The company intends to vigorously contest this decision by all means necessary and available under the Minerals (Prospecting and Mining) Act and other applicable laws of Namibia. In its application for renewal and subsequent representations made to the ministry, the company maintains that it clearly demonstrated having met all criteria under the act to justify the renewal of its licence.

As disclosed in its press release dated June 16, 2021, the company had received notice from the ministry informing the company that its application for the renewal of its EPL had been denied citing the company's inability to advance the EPL to prefeasibility and complete the proposed drilling program as planned. The company maintains that the ministry was kept well apprised, with no objection on its part, of a proposed change from the prefeasibility study to upgraded preliminary economic assessment (PEA) and commencement of a full feasibility study. Moreover, the ministry issued all permits required for the drilling program and is well aware that Deep-South has completed the drilling program.

As a result of the minister's refusal to renew the licence, the company has terminated all work on site and has proceeded with the retrenchment of its employees on site.

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. In using and assessing environmentally friendly technologies in the development of its copper project, Deep-South embraces the green revolution.

We seek Safe Harbor.