Deep-South Resources Updates the Acquisition of 75% of the Inal Property Neighboring the Kinross Tasiast GOLD MINE IN Mauritania and Updates Its Financing

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 RESOURCES UPDATES THE ACQUISITION OF 75% OF THE

INAL PROPERTY NEIGHBORING THE KINROSS TASIAST GOLD MINE IN

MAURITANIA AND UPDATES ITS FINANCING

Vancouver, B.C., Canada – October 23, 2017 – Deep-South Resources Inc. (" Deep-

South" or “ the Company") (TSX-V: DSM) announces that its legal and technical

consultants have visited the INal project in Mauritania and have completed their due

diligence. The Company is awaiting final legal and technical reports concerning the

acquisition of 75% of the project. Details of the transaction have been previously

disclosed in a press release dated August 23, 2017. The press release be seen on

SEDAR or by clicking this link: https://www.deepsouthresources.com/investors/news-

releases/deep-south-resources-intends-to-acquire-75-of-the-inal-property-neighboring-

the-kinross-tasiast-gold-mine-in-mauritania/.

Concurrently, the Company has obtained the authorization of the TSX Venture

Exchange to extend the private placement previously announced on September 6, 2017.

The private placement has been extended for 30 days and closing procedure will start

shortly.

The terms of the private placement are as follows:

The Company will proceed with a non-brokered private placement for gross proceeds of

up to $750,000 (“the Offering”).

The non-brokered private placement will comprise up to 3,409,091 units (the “Units”) of

Deep-South, at a subscription price of $0.22 per Unit. Each Unit will consist of one (1)

common share and one half (1/2) of one common share purchase warrant (“Warrant”) of

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

South common share at an exercise price of $0.30 during a period of thirty-six (36)

months from the date of closing of the plac ement. Each security issued pursuant to the

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

the placement.

The private placement is subject to the approval of the TSX Venture Exchange.

About Deep-South Resources Inc.

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

shareholders and Teck Resources Ltd, which holds about 35% of Deep-South share

capital. Deep-South is actively involved in the acquisition, exploration and development

of major mineral properties. Deep-South currently holds 100% of the Haib Copper

project in Namibia, one of the largest copper porphyry in Africa. Deep-South’s growth

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

mineralized trends, close to infrastructure, in stable countries.

This press release contains certain "forward-l ooking statements," as i dentified in Deep-South’s

periodic filings with Canadian Securities Regulator s 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 materia lly 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) ac cepts responsibility for the adequacy or accuracy

of this release.

More information is available by contacting:

Paradox Public Relations at +1-514-341-0408 or Pierre Léveillé, President & CEO at:

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