SOUTHERN HEMISPHERE MINING LIMITED — Capital/Financing Update 2011

Dec 1, 2011

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PO Box 598 T: +61 8 9481 2122 West Perth F: +61 8 9481 2322 WA 6872 www.shmining.com.au

2 December 2011

Australian Securities Exchange Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Sir/Madam

Cancellation of Unlisted Options

Southern Hemisphere Mining Limited wishes to advise that 250,000 unlisted options have been cancelled in accordance with the terms of their issue.

Details of unlisted options cancelled are as follows:

Code	Expiry Date	Exercise Price	No of Options
SUHAI	30/6/2013	A$0.54	250,000

Yours faithfully

SOUTHERN HEMISPHERE MINING LIMITED

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Derek Hall Company Secretary