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. [TSXV: DSM]  has reported the Company has received a notice from the Minister confirming that the Company’s application for the renewal of its Exclusive Prospecting Licence 3140 has been refused.

The Company intends to vigorously contest this decision by all means necessary and available under the Minerals 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 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.