Southern Hemisphere Mining : Drilling Results from the Llahuin RC Program-Chile

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ASX Announcement

15th February 2022

Drilling Results from the Llahuin RC Program-Chile

• The RC drilling program at Llahuin which began in December 2021 has been completed with 24 holes drilled for 2,787m
• First results have been received from the ALS Laboratory in Chile for 11 holes, with a best result at the Central Porphyry, so far of 90m @ 0.62% CuEq from surface which is significantly higher than the published resource grade (0.41% CuEq)
• Drillhole 21LHRC009 at the Cerro De Oro deposit intersected 69m @ 0.47% CuEq from surface
• First RC drillhole into the Southern Porphyry Copper/Gold Target intersected approx. 177m with trace visual chalcopyrite
  Southern Hemisphere Mining Limited ("Southern Hemisphere", "SUH" or "the Company")
  (ASX: SUH) reports that results from the latest RC drilling program are starting to be received from the LAS Laboratory in Chile, with results from 7holes reported in this release. The drillhole locations are shown in Figure 2.

Figure 1. Llahuin/Colina2 Chile Location Map

ACN: 140 494 784

Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]

www.shmining.com.au

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The drilling program was designed to test:

1. Near surface higher grade zones in and around existing resources at the Central Porphyry and Cerro De Oro deposits, and
2. New targets for large porphyry deposits.

NEAR SURFACE HIGHER GRADE

Drillholes at the Central porphyry and Cerro De Oro were infill drilling off existing drill pads targeting near surface material. Drillhole 21LHRC009 intersected a newly recognised near surface zone 0-69m @0.47%CuEq which will require follow up drilling to better define the extents and its relationship to the Cerro deposit.

NEW TARGETS

1. Southern Porphyry Copper/Gold Prospect

Drillhole 22LHRC024 was the maiden drillhole into the Southern Porphyry Copper-Gold prospect, is considered by the company to be a technical success intersecting 177m of trace visible chalcopyrite in the first hole of the program, with assays pending.

The hole was designed to test historical rockchip data and newly acquired drone magnetic survey data. Further drilling is planned to test the Southern Porphyry target.

2. The Railway prospect

Two drillholes were completed at the Railway copper/gold prospect, and both intersected continuous sections of Copper/Gold mineralisation, from surface to end of hole in holes 21LHRC010 and 11.

ACN: 140 494 784

Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]

www.shmining.com.au

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Figure 2 Llahuin RC Drillhole Location Plan

NEXT PROGRAM

The next stage of drilling will comprise a small orientated diamond drilling program designed to verify structures and densities at both the Central Porphyry and Cerro De Oro deposits. Data from this program will guide further near surface drilling this year.

Approximately 40% of assays have been received from the ALS laboratory in Chile and significant results are presented in Table 1 below.

ACN: 140 494 784

Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]

www.shmining.com.au

For personal use only

Table 1 Significant Intercepts from the Llahuin RC Drilling Program using a 0.1 Cu% cutoff.

NB: Copper Equivalent CuEq% calculated using Cu $3.20lb, Au $1700/oz Ag $20/oz and Mo $30/kg

Table 2 Geological log of drillhole 22LHRC024 at the Southern Porphyry

Further assays are pending and the results will be reported in due course when they become available from the laboratory and analysis is complete.

Note there has been insufficient exploration to estimate a Mineral Resource at the Southern Porphyry target and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of sulphide abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of mineralisation. The Company will update the market when laboratory analytical results become available.

ACN: 140 494 784

Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]

www.shmining.com.au

For personal use only

Approved by the Board for release.

Mark Stowell

Chairman

CONTACTS:

For further information on this update or the Company generally, please visit our website at www.shmining.com.auor contact the company :

[e-mail]: [phone]

ACN: 140 494 784

Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]

www.shmining.com.au