1.6 meters averaging 675 g/t Ag, 0.3% Cu, 5.5% Pb and 3.4% Zn at Cerro Las Minitas

Southern Silver Exploration Corp. (TSXV: SSV) (“Southern Silver”) today announced that drill results continue to extend silver-polymetallic mineralization laterally to the east and west at the North Felsite target on the Cerro Las Minitas project. , Durango, Mexico.

The North Felsite target is located on the east side of the Cerro and wraps around the northern edge of the central intrusion where it passes into the North Skarn target area (Figure 1). New drilling now confirms continuity of mineralization with previously modeled mineral resources at the Mina La Bocona and Skarn Front deposits, continues to identify gold enrichment in several hangwall intersections outside of the main skarn target in the North Felsite zone and has identified elevated levels of superior grade copper mineralization in the North Skarn target zone.

Drilling highlights at the North Felsite target area include:

  • an interval of 1.5 meters (1.0 meters est. TT.) average 165g/t Ag, 0.1g/tAu, 11.5% Cu, 0.1% Pb and 0.4% Zn (1463g/t AgEq) in an interval of 4.0 meters (2.6 meters est. TT.) average 77g/t Ag, 4.4% Cu, 0.2% Pb and 0.9% Zn (617g/t AgEq) of the borehole 21CLM-191;
  • an interval of 1.6 meters (1.3 meters est. TT) average 675g/t Ag, 0.3g/t Cu, 5.5% Pb and 3.4% Zn (1008g/t AgEq) in an interval of 4.8 meters (3.8 meters est. TT) average 352g/t Ag, 0.1% Cu, 2.4% Pb and 1.6% Zn (500 g/t AgEq) from hole 22CLM-188; and
  • an interval of 0.7 meters (0.6 meters est. TT) average 499g/t Ag, 0.1g/t Au, 0.4% Cu, 4.6% Pb and 1.5% Zn (759 g/t AgEq) in an interval of 2.2 meters (1.9 meters est. TT) average 162g/t Ag, 0.6g/t Au, 0.3% Cu, 1.5% Pb and 0.6% Zn (314 g/t AgEq) of the borehole 22CLM-187;

High gold enrichment, up to 7.0g/t Au over 0.6m (est. TT.), is identified in several hangingwall intersections (see Table 1) correlating with zones of mineralization outside of the silver-enriched polymetallic mineralization more typical of the main skarn horizon located adjacent to the central monzonite intrusion.

Two of the drill holes, 22CLM-186 and -187, tested the eastern margin of the North Felsite Zone, returning anomalous and high-grade intersections along the strike of the modeled mineral resources in the Mina La Bocona deposit and clearly establishing continuity with the mineralization identified during the last 8 months of exploration on the North Felsite target.

High quality copper, up to 2.6m (est. TT.) of 4.4% Cu was fired from the borehole 22CLM-191. The mineralized intersection is located only 85 meters down dip from the copper-enriched intersections in the historic drill hole 11CLM-003 (14m of 60g/t Ag, 0.9% Cu, 0.3% Pb and 1.6% Zn; see NR-05-11) which have been included in the modeled mineral resources of the Skarn Front Depot.

Vice President of Exploration Rob Macdonald says: “These latest drill results have now confirmed the continuity of new mineralization over a strike length of approximately 400 meters extending laterally from the Mina La Bocona to Skarn Front Depots. The mineralization remains open at depth both in the north felsite and the Northern Skarn Targets (see Figure 2) with analyzes of two holes, 22CLM-192 and -193, pending. Continuous to semi-continuous mineralization has now been identified around the circumference of the central intrusion except for the southwest quadrant which remains to be explored by diamond drilling.”

Figure 1: Plan map of the Cerro zone showing the distribution of CLM deposits on the North Felsite and North Skarn targets.

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Figure 2: Southward longitudinal section of the North Felsite target area showing the distribution of Southern Silver’s most recent drill holes.

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Table 1: Select North Felsite Target Zone Dosing Ranges.

Hole #
Of

(m)

To

(m)

Interval

(m)
East. Tr. Thick.
(m)

AG

(g/t)

At

(g/t)

Cu

(%)

bp

(%)

Zn

(%)

AgEq

(g/t)

ZnEq

(%)
Northern Felsite Target
22CLM-186 410.2 411.0 0.8 0.6 107 7.0 0.0 7.6 4.9 1116 28.3
22CLM-186 481.0 481.6 0.6 0.5 649 0.1 0.9 5.1 4.4 1088 27.6
22CLM-187 489.8 491.7 1.9 1.7 98 0.0 0.1 1.0 0.1 145 3.7
22CLM-187 494.7 496.9 2.2 1.9 162 0.6 0.3 1.5 0.6 314 8.0
inc. 494.7 495.4 0.7 0.6 499 0.1 0.4 4.6 1.5 759 19.2
22CLM-187 499.2 501.5 2.3 2.0 9 1.2 0.2 0.0 0.1 134 3.4
North Skarn Target
22CLM-188 275.0 275.5 0.5 0.3 307 1.0 0.5 0.2 0.7 481 12.2
22CLM-188 441.8 457.8 16.0 12.7 128 0.0 0.0 0.8 1.1 202 5.1
inc. 453.1 457.8 4.8 3.8 352 0.0 0.1 2.4 1.6 500 12.7
inc. 455.6 457.2 1.6 1.3 675 0.0 0.3 5.5 3.4 1008 25.6
22CLM-189 86.2 92.9 6.7 5.4 30 0.5 0.2 0.6 1.2 160 4.0
22CLM-189 469.5 470.0 0.5 0.4 1130 0.1 2.1 9.8 11.9 2143 54.3
22CLM-190 318.3 319.8 1.4 1.1 92 0.0 0.0 0.6 0.9 147 3.7
LOST HOLE, RE-ENTERED AS 190A @ 153m as 22CLM-190A
22CLM-190A 342.6 343.4 0.8 0.6 462 0.0 0.1 11.1 3.0 937 23.8
22CLM-191 453.2 460.4 7.2 4.7 123 0.0 0.8 0.4 0.6 251 6.4
inc. 455.6 456.2 0.6 0.4 848 0.0 5.6 0.7 2.6 1596 40.5
22CLM-191 474.7 478.7 4.0 2.6 77 0.0 4.4 0.2 0.9 617 15.6
inc. 474.7 476.2 1.5 1.0 165 0.1 11.5 0.1 0.4 1463 37.1

FA/AA analysis for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits analyzed by ICP ore grade analysis, high silver overlimits (>1500g/t Ag) and gold overlimits ( >10g/t Au) reanalyzed with FA-Grav. High values ​​of Pb (>20%) and Zn (>30%) exceed the limits assayed by titration. AgEq and ZnEq were calculated using average metal prices: $20/oz silver, $1650/oz gold, $3.25/lb copper and $0.9/lb lead and 1 .15 USD/lb of zinc. The AgEq and ZnEq calculations did not take into account the relative metallurgical recoveries of the metals. Ore grade composites are calculated using a cut-off of 80 g/t AgEq in the sulphides and 0.5 g/t AuEq in the auriferous oxide zone. The composites have

New Mexico, United States.

The Company’s real estate portfolio also includes the Oro Porphyry Copper-Gold Project and the Hermanas Gold-Silver Lode Project located in southern New Mexico, USA.

Drilling continues on a six-hole, 4,000m drill program on the Oro project, designed to test multiple copper-molybdenum porphyry and copper-gold skarn targets within a broad zone of phyllic alteration, interpreted as overlying an unexposed porphyry center. The first two holes are finished and a third in progress; recording and sampling continues with analyzes pending in the coming weeks.

Initial mapping and sampling of the Hermanas property was completed over the winter. Assays are pending, the results of which will be incorporated into new drill targeting for 2022 licensing. Earlier verification sampling by the company identified anomalous gold and silver in seven of the nine samples collected including: a sample from a small historic mine dump which assayed 6.7 ppm Au and 150 ppm Ag and a sample of outcropping banded quartz and carbonate veins which assayed 4.6 ppm Au and 56 ppm Ag.

Cerro Las Minitas Project

Southern Silver continues to advance the Cerro Las Minitas project as one of the largest undeveloped silver/lead/zinc resources in the world, through advanced exploration, metallurgical and pre-engineering work. production and economic evaluation. The CLM Ag-Pb-Zn-Cu Skarn system is conveniently located in southern Durango, Mexico, in a safe jurisdiction surrounded by producing businesses, with easy access and strong community support.

A total of 196 drill holes for 84,872 meters have been completed on the CLM project with exploration expenditures of over US$30.0 million, which equates to exploration discovery costs of approximately 0 CA$.09 per ounce AgEq.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is an exploration and development company focused on the discovery of world-class mineral deposits. Our specific focus is the 100% owned silver-lead-zinc Cerro Las Minitas project, located in the heart of Faja de Plata, Mexico, which hosts several world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade silver-lead-zinc mine. The Company engages in the acquisition, exploration and development directly or through joint venture relationships in mineral properties in major jurisdictions.

Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by NI 43-101 and directly supervised the CLM Project data collection that is reported in this Disclosure and is responsible for the presentation of technical information in this Disclosure.

On behalf of the Board of Directors
Laurence Page
Laurent Page, QC
President and Director, Southern Silver Exploration Corp.
For more information, please visit Southern Silver’s website at https://www.southernsilverexploration.com or contact us at 604.641.2759 or by email at [email protected]

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 release.

This press release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in these statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include the timing and receipt of governmental and regulatory approvals, the continued availability of capital and financing and general economic, market or Business. Southern Silver Exploration Corp. does not undertake any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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