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Southern Hemisphere Mining Limited Announces an ASX Listing and the Concurrent Raising of AUDS$8 Million by the Issuance of 32

^{Published on 2009-12-01 06:50:37 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) -

ASX Listing and Capital Raising

Southern Hemisphere Mining Limited (TSX VENTURE:SH) is pleased to report that progress has been made in gaining an ASX listing with the lodgement of the final prospectus with ASIC and the ASX due to take place on the 2nd December 2009. On gaining the listing SH will be dual listed in Australia and Canada. Trading on the ASX will be via CDI's (CHESS Depositary Interests).

The prospectus will be for the raising of AUD$8 million with the issuance of 32 million new shares at AUD$0.25 each. Euroz Securities Limited is underwriter to the offer and the corporate advisor to the Company. Funds raised will be spent on completing a detailed feasibility study on the Los Pumas Manganese Project and conducting well targeted exploration works on copper gold projects.

The prospectus document will be posted on the Company's web site on Thursday 3rd December 2009. ([ www.shmining.com.au ])

Options

The 5.2 million options with an exercise price of AUD$0.30 and a vesting period of 36 months will be issued to directors, employees and key consultants.

The 1.0 million options granted to Euroz Securities Limited is by way of a segment of the fee for underwriting the capital raising. These options will have an exercise price of AUD$0.25 and a vesting period of 36 months.

Director

Mr David Craig has been appointed as an independent non-executive director of the Company. Mr Craig brings to the Board expertise in law, financial markets, strategic planning and risk management. Mr. Craig is the Non-Executive Chairman of Moly Mines Limited and a Non Executive director of United Minerals Corporation NL, ADG Global Supply Limited and Entek Energy Ltd.

About Southern Hemisphere Mining (SH)

Southern Hemisphere Mining Limited has an extensive portfolio of copper/gold properties as well as the Los Pumas Manganese Project in Chile. Work is currently focussing on the manganese project as there is indication that this property can be developed into a viable mining operation in the short to medium term. A definitive feasibility study on this project is a priority. Infill drilling to gain a higher level of confidence in resource inventory is underway. Work will also recommence on further drilling on the copper/gold properties in 2010.

Shares Outstanding: 67,685,687

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 News Release.