HAIB COPPER: THE RULE OF LAW PREVAILS IN NAMIBIA. THE HIGH COURT RENDERS VERDICT IN FAVOR OF DEEP-SOUTH

VANCOUVER, BC, March 10, 2023 /CNW/ - Deep-South Resources Inc. ("Deep-South") or the Company) (TSXV: DSM) announces that the High Court of Namibia has rendered its judgment and reviewed and set aside the decision of the Minister not to renew the Haib Copper licence EPL 3140. The effect of the order is that the Minister must resume the licence renewal application procedure and arrive at a new decision. The court noted that the facts presented by Haib Minerals (Deep-South's subsidiary) should not have been ignored in the evaluation process.

The judgment mentions that the Minister and Mining Commissioner did not consider the large investments carried out by Deep-South to develop a low grade deposit. The court also states that the Minister and Mining Commissioner did not take in consideration the fact that the COVID 19 pandemic impacted the exploration program. The court also ordered the Ministry to pay the legal costs of Deep-South' subsidiary Haib Minerals.

The Minister and the Mining Commissioner have the right to appeal the judgement in the Supreme Court of Namibia. If they decide to lodge an appeal, the request shall be filed within 21 court days from the date of the judgement.

Deep-South will now consult its legal advisers to prepare the way forward and pursue the licence renewal procedure. More information about the matter will be disclosed in due course.

Pierre Leveille, President & CEO of Deep-South stated: "This is a very positive verdict and we are confident to be able to create a new positive working relation with the Minister and the new Mining Commissioner. It is also an important decision for Namibia as it shows that the rule of law prevails in Namibia. Our Board of Directors would like to thank our shareholders for their strong support over all that difficult period ".

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 projects, Deep-South embraces the green revolution.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Deep-South Resources Inc.

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