Southern Hemisphere Mining Limited
TSX VENTURE : SH

Southern Hemisphere Mining Limited

November 19, 2008 17:01 ET

Southern Hemisphere Announces $1.6 Million Private Placement for Exploration Programs, Manganese Pre-Feasibility Study and General Working Capital

TORONTO, CANADA--(Marketwire - Nov. 19, 2008) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Southern Hemisphere Mining Limited (TSX VENTURE:SH) ("Southern Hemisphere" or the "Corporation") wishes to announce that it is undertaking a private placement financing for gross proceeds of $1.6 million.

Private Placement

The Private Placement will consist of 8,000,000 units at a price of $0.20 per unit. Each unit will consist of one common share and a one half share purchase warrant. Each whole warrant will entitle the holder to purchase one common share at a price of $0.20 per share, exercisable for a period of 2 years from the closing date.

The proceeds from the financing will be used for exploration programs, a pre-feasibility study (including resource definition drilling) on the recently announced (November 4th, 2008) Los Pumas manganese project and general working capital.

All the securities issued pursuant to the foregoing will be subject to a four-month hold period. The private placement is subject to the approval of the TSX Venture Exchange.

There are no selling fees or commissions payable on the gross proceeds of the private placement.

About Southern Hemisphere Mining Limited

Southern Hemisphere is a South American focused resource company focused on exploring for large tonnage base metal opportunities in Chile. The Company currently has four base metal projects in Chile covering approximately 177 km2 of prospective exploration ground covering four mineralized porphyry copper systems. These projects, La Santas, El Arrayan, Mantos Grandes and San Jose, are all located within the Chilean copper belt and in the case of two of the projects are in close proximity to existing large copper or copper /gold mining operations.

The Company has recently acquired the Los Pumas manganese Project located in Northern Chile. This project has the potential to host a substantial manganese resource.

Shares Outstanding: 35,015,687

The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Southern Hemisphere Mining Limited
    Clark Kent
    (Investor Relations)
    1-866-952-3838
    or
    Southern Hemisphere Mining Limited
    Trevor Tennant
    (President)
    +61-8-9481-2122