Vancouver, B.C., Canada - TheNewswire - February 26, 2020 - Deep-South Resources Inc. ("Deep- South" or "the Company") (TSXV:DSM) (Frankfurt:DSD) announces that it has appointed Mr. Paul Smith to its Board of Directors and has appointed Ms. Chantelle Collins as Chief Financial Officer ("CFO"). Mr. Ryan Cheung has resigned as Director and CFO.
Mr. Smith is currently a Director of Range Mining Consulting and consults to a number of mining clients focusing on sub-Saharan Africa. Prior to this, he was the founding CEO, Minerals Development Company Botswana, established to manage and optimise the Government mineral investment portfolio within the mining industry. Prior to this, he was COO of Wesizwe Platinum Limited where he was accountable for the development of the US$1.5 billion Bakubung Platinum Mine (BPM). Paul has had significant experience in Stock Broking and resources finance with large South African and international Merchant Banks. He was founder and CEO of TWP Finance (Pty) Limited, which focused on mining finance, commodities trading and resources business development. He holds a Bachelor of Science in Geology and Chemistry from Rhodes University, a Diploma in Extractive Metallurgy from Exeter University and a bachelor of commerce and MBA from Stellenbosch University.
Ms. Collins, holds a Bachelor's degree in Accounting and is a member of the Chartered Professional Accountants Association of BC (CPA, CGA). Ms. Collins has 12 years of experience working in the public sector and is well versed in the financial reporting requirements of public companies and serves as an officer in three other public Company.
Mr. John Akwenye, Chairman of Deep-South stated: "We would like to acknowledge Mr. Ryan Cheung for his dedication and good work with Deep-South and wish him good luck with his future projects. We are pleased with the nominations of Mr. Smith and Ms. Collins. Mr. Smith brings a wealth of knowledge and experience in the mining industry as well as strong technical, financial and management background. His vast experience adds considerable strength to Deep-South while we enter in the development phase of the Haib Copper project. Ms. Collins brings a strong financial and accounting competence that will serve Deep-South well."
On another matter, Deep-South has granted an aggregate of 2,850,000 stock options of the company. All the options have been granted to Directors and Officers, Each option entitles its holder to purchase one common share of the company at a price of 9 cents per share for a five-year period, vesting every 6 months for a period of 24 months. Options are granted in accordance with Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the company's stock option plan
About Deep-South Resources Inc.
Deep-South Resources Inc. is a mineral exploration company largely held by Namibian shareholders and Management with 21% and Teck Resources Ltd with 23% 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 an investment of 75% in 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.