Deep-South Clarifies Technical Disclosure

DEEP-SOUTH CLARIFIES TECHNICAL

DISCLOSURE

VANCOUVER, BC

,

Feb. 17, 2023

/CNW/ - Deep-South Resources Inc. ("

Deep-South

" or the

Company) (TSXV: DSM) announces that, as a result of a continuous disclosure review by the British

Columbia Securities Commission (the "BCSC"), the Company is issuing the following news release to

clarify its disclosure as it pertains to its Technical Report entitled "Haib Copper Project 2020

Preliminary Economic Assessment" on the Haib Copper project near Noordover in the south of

Namibia

("Technical Report"). The Technical Report was filed on SEDAR on

February 1, 2021

.

In order to satisfy several deficiencies with National Instrument 43- 101 -

Standards of Disclosure for

Mineral Projects

("NI 43-101") noted by the BCSC during its recent continuous disclosure audit of the

Company, the Company understands it will need to amend the Technical Report accordingly.

However, as the verdict of the High Court of

Namibia

concerning the review of the decision of the

Minister of Mines of

Namibia

to not renew the Haib Copper licence is scheduled for

February 23,

2023

, the Company will await the verdict to make a decision to amend the Technical Report.

Therefore, at the present time, Deep-South advises that the estimates and economic assessment in

the current Technical Report should not be relied upon as they are not supported by a compliant NI

43-101 technical report.

Further, in connection with the BCSC's recent continuous disclosure review of the Company, and

separate from the Technical Report item addressed above, Deep-South will also update and clarify

additional disclosure contained on its website and in its corporate presentation to address such

comments.

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 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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http://www.newswire.ca/en/releases/archive/February2023/17/c7409.html

%SEDAR: 00005247E

For further information:

More information is available by contacting Pierre Léveillé, President &

CEO at +1-819-340-0140 or at: [email protected]

CO: Deep-South Resources Inc.

CNW 08:15e 17-FEB-23