Deep-South Has Closed a Second Tranche of Its Private Placement

Suite 162, 2912 West Broadway, Vancouver, British Columbia, V6K 0E9

Tel : 604-340-0140. E-mail : [email protected]

Web site: http://www.deepsouthresources.com

DEEP-SOUTH HAS CLOSED A SECOND TRANCHE OF ITS

PRIVATE PLACEMENT

Vancouver, B.C., Canada – January 22, 2020 – Deep-South Resources Inc.

("Deep- South" or “the Company") (TSX-V: DSM) announces that it has closed a

second tranche totaling $319,000 of its current private placement. Deep-South has

previously closed a first tranche totaling $267,300 of its current private placement.

Please see the press release of December 23, 2019 at:

https://www.deepsouthresources.com/investors/news-releases/deep-south-has-

closed-a-first-tranche-of-its-private-placement-and-will-update-its-2018-pea/

The non-brokered private placement comprises 6,380,000 units (the “Units”) of Deep-

South, at a subscription price of $0.05 per Unit. Each Unit will consist of one (1)

common share and one (1) common share purchase warrant (“Warrant”) of Deep-

South. Each Warrant will entitle the holder thereof to purchase one (1) Deep-South

common share at an exercise price of $0.09 during a period of sixty (60) months from

the date of closing of the placement. Each security issued pursuant to the placement

has a mandatory four (4) months holding period from the date of closing of the

placement.

The funds will serve to complete the updated PEA currently underway, plan the

upcoming work program, pay some outstan ding accounts and debts and cover

general and administrative expenses.

About Deep-South Resources Inc.

Deep-South Resources Inc. is a mineral exploration company largely held by

Namibian shareholders and Management with 25% and Teck Resources Ltd with 28%

of Deep-South share capital. Deep-South currently holds 100% of the Haib Copper

project in Namibia, one of the largest copper porphyry deposits in Africa. Deep-South

also holds 75% of the Kapili Tepe Copper exploration project in Turkey. Deep-South’s

growth strategy is to focus on the exploration and development of quality assets, in

significant mineralized zones, close to infrastructure, in stable countries.

This press release contains certain "forward-looking statements," as identified in Deep- South’s periodic

filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be

no assurance that such statements will prove to be accurate and actual results and future events could

differ materially from those anticipated in such statements. 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.

More information is available by contacting Pierre Léveillé, President & CEO at

+1-819-340-0140 or at: [email protected] or Paradox Public Relations at

+1-514-341-0408