SOUTHERN HEMISPHERE MINING LIMITED — Major Shareholding Notification 2012

Nov 5, 2012

ASX RELEASE 6 NOVEMBER 2012

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

Dear Sir/Madam

BECOMING A SUBSTANTIAL SHAREHOLDER

Southern Hemisphere Mining Limited (the "Company") as part of admission to the Official List of the ASX in December 2009 undertook to inform the market on becoming aware of a change in the number of equity securities in which a substantial holder has a relevant interest within the meaning of section 608 of the Corporations Act 2001 of Australia.

In accordance with the undertaking, the Company has become aware that Lundin Mining Corporation (“Lundin Mining”) have a substantial holding in the Company within the meaning of section 671B of the Corporations Act. Lundin Mining became a substantial holder pursuant to the private placement completed November 1, 2012 from which Lundin Mining now have a relevant interest in 19,800,000 shares of the Company. On the basis of 19,800,000 shares, Lundin Mining and its associates currently have a voting power of 11.45% in the Company.

Yours sincerely

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Derek Hall Company Secretary

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ASX: SUH TSX-V: SH www.shmining.com.au

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