Southern Hemisphere Mining Limited
TSX VENTURE : SH

Southern Hemisphere Mining Limited

July 28, 2009 12:34 ET

Southern Hemisphere Announces Unanimous Shareholder Approval

SOUTHERN HEMISPHERE ANNOUNCES UNANIMOUS APPROVAL AT SHAREHOLDERS MEETING FOR THE ACQUISITION OF TWO AUSTRALIAN PRIVATE EXPLORATION COMPANIES WHICH OWN EIGHT CHILEAN GOLD, BASE METAL, URANIUM AND IRON EXPLORATION PROJECTS.

TORONTO, CANADA--(Marketwire - July 28, 2009) -

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 has received unanimous approval from its shareholders at the Shareholders Meeting held on July 20th 2009 for the acquisition of all the issued and outstanding shares of two Australian exploration companies namely Pan American Mining Pty Limited ("PAM") and South American Mining Pty Limited ("SAM") for a total consideration of $2 million payable by issuing a total of 10 million Southern Hemisphere common shares (the 'Consideration Shares"). PAM and SAM through two Chilean subsidiary companies have a total of eight Chilean gold, base metal, uranium and iron exploration projects which complement the existing Southern Hemisphere exploration project portfolio in Chile.

Remaining Conditions to Completion of Transaction

The completion of the proposed Transaction is subject to acceptance for listing of the Consideration Shares by the TSX Venture Exchange (the "Exchange") and the closing of the transactions by August 31, 2009.

There can be no assurance that the Transaction will be completed as proposed or at all.

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 thirteen projects in Chile with prospective exploration ground covering mineralized porphyry copper systems, copper-gold systems, and manganese, uranium and iron prospects.

The Company has commenced an exploration and resource drill program at its Los Pumas manganese Project located in Northern Chile. This project has the potential to host a substantial manganese resource.

Shares Outstanding: 52,685,687

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

Contact Information

  • Southern Hemisphere Mining Limited
    Clark Kent
    Investor Relations
    1-888-673-2646
    or
    Southern Hemisphere Mining Limited
    Trevor Tennant
    President
    +61-8-9481-2122