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

ASX Announcement

28th April 2022

For personal use only

Drilling Results from the Llahuin RC Program in Chile

• ➢ Remaining results for the RC drilling program at Llahuin which began in December 2021 have been completed with 24 holes drilled for 2,787m in total

• ➢ The Central Porphyry returned a best result in hole 22LHRC022 of 104m at 0.51% CuEq from 6m to end of hole

• ➢ Best result at Cerro de Oro was in 22LHRC013 which intersected 51m at 0.48% CuEq from 7m depth to end of hole

➢

New target at the Southern Porphyry intersected a zone of 11m at 0.25% CuEq from 58m depth to be followed up also testing a previously untested IP target

Southern Hemisphere Mining Limited ("Southern Hemisphere", "SUH" or "the Company") (ASX: SUH) reports that all results from the latest RC drilling program have been received from the ALS Laboratory in Chile, with results from the remaining 13 holes reported in this release. Note holes were designed to test near surface higher grade and thus several holes end in mineralisation. 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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Figure 2 Llahuin RC Drillhole Location Plan

NEXT PROGRAM

The next stage of drilling is starting this week and 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.

All of the 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

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Drillhole ID	From	To	Width	Target	Au ppm	Ag ppm	Cu %	Mo ppm	CuEq%
22LHRC013	7	58	51	Cerro de Oro	0.35	0.15	0.18	11	0.48
22LHRC014	1	63	62	Cerro de Oro	0.18	0.12	0.18	10	0.34
22LHRC015	0	110eoh	110	Central Porphyry	0.06	0.14	0.34	22	0.40
22LHRC016	1	99	98	Cerro de Oro	0.22	0.15	0.14	10	0.33
22LHRC017	0	95eoh	95	Cerro de Oro	0.22	0.22	0.16	11	0.35
22LHRC018	0	59eoh	59	Central Porphyry	0.13	0.34	0.44	5	0.56
22LHRC020	0	101eoh	101	Central Porphyry	0.08	0.21	0.39	15	0.48
22LHRC021	0	84	84	Cerro de Oro	0.22	0.10	0.16	8	0.35
22LHRC022	6	110eoh	104	Central Porphyry	0.07	0.58	0.44	10	0.51
22LHRC023	4	120eoh	116	Cerro de Oro	0.09	0.12	0.21	19	0.30
22LHRC024	58	69	11	Southern Porphyry	0.08	0.26	0.18	1	0.25

JORC 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 $1850/oz Ag $20/oz and Mo $30/kg

Figure 3 Southern Porphyry planned drillholes and IP target

ACN: 140 494 784 Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]www.shmining.com.au

For personal use only

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. Turnaround times for the laboratory have increased due to personnel issues associated with COVID.

Approved by the Board for release.

Mark Stowell

Chairman

CONTACTS:

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

[e-mail]

Telephone: [phone]

ACN: 140 494 784 Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]www.shmining.com.au

BACKGROUND INFORMATION ON SOUTHERN HEMISPHERE MINING:

For personal use only

Southern Hemisphere Mining Limited is an experienced minerals explorer in Chile, South America. Chile is the world's leading copper producing country and one of the most prospective regions of the world for major new copper discoveries. The Company's projects include the Llahuin Porphyry Copper-Gold Project,

the recently identified Colina 2 Gold prospect nearby, and the Los Pumas Manganese Project, all of which were discovered by the Company.

Llahuin Copper/Gold/Moly Project: Total Measured and Indicated Resources - JORC (2004) Compliant.

As announced to the market on 18 August 2013.

Resource (at 0.28% Cu Equiv cut-off)	Tonnes Millions	Cu %	Au g/t	Mo %	Cu Equiv*
Measured	112	0.31	0.12	0.008	0.42
Indicated	37	0.23	0.14	0.007	0.37
Measured plus Indicated	149	0.29	0.12	0.008	0.41
Inferred	20	0.20	0.19	0.005	0.36

Note: *Copper Equivalent ("Cu Equiv"): The copper equivalent calculations represent the total metal value for each metal, multiplied by the conversion factor, summed and expressed in equivalent copper percentage. These results are exploration results only and no allowance is made for recovery losses that may occur should mining eventually result. It is the Company's opinion that elements considered have a reasonable potential to be recovered as evidenced in similar multi-commodity natured mines. Copper equivalent conversion factors and long-term price assumptions used are stated below:

Copper Equivalent Formula= Cu % + Au (g/t) x 0.72662 + Mo % x 4.412 Price Assumptions- Cu ($3.40/lb), Au ($1,700/oz), Mo ($15/lb)

Los Pumas Manganese Project: Total Measured and Indicated Resources - JORC (2004) Compliant. As announced to the market on 25 March 2011.

Resource (at 4% Mn cut-off)	Tonnes Millions	Mn %	SiO2 %	Fe2O3 %	Al %	K %	P%
Measured	5.27	7.39	57.85	2.78	5.62	2.88	0.05
Indicated	13.06	7.65	55	2.96	5.64	2.92	0.05
Measured plus Indicated	18.34	7.58	55.82	2.91	5.62	2.91	0.05
Inferred	5.39	8.59	51.44	2.72	5.49	2.69	0.06
Total	23.73	7.81

Metallurgical studies have demonstrated greater than 38% Mn concentrates are achievable by DMS with low impurities and high silica product.

In relation to the above resources, the Company confirms that it is not aware of any new information or data that materially affects the information in the announcements, and all material assumptions and technical parameters in the announcements underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

ACN: 140 494 784

Suite 2, 20 Howard Street

Perth WA 6000

Ph: [phone]www.shmining.com.au