Southern Silver Identifies New Discovery on the El Sol Claim with 3.5 Metres averaging 549gt Ag, 0.3gt Au, 8.6% Pb and 3.6% Zn, Drilling Resumes

Southern Silver Exploration Corp. (TSX.V: SSV) ('Southern Silver') reported today that drilling has identified a new high-grade mineral discovery on the El Sol concession, located within the Cerro Las Minitas project area, Durango, Mexico.

The El Sol concession is a largely gravel covered 63ha. claim located on the northwestern boundary of the Bocona block of claims and is adjacent to the Area of the Cerro which hosts the six mineral deposits currently identified by Southern Silver on the Cerro Las Minitas claim package.

Highlight Assays include: a 0.8 metre interval grading 1,760g/t Ag, 0.9g/t Au, 23.6% Pb and 1.2% Zn (2,622g/t AgEq) within a 3.5 metre interval averaging 549g/t Ag, 0.3g/t Au, 8.6% Pb and 3.6% Zn (982g/t AgEq) from drill hole 21SOL-003

Drill hole 21SOL-003 is one of five holes drilled in the Autumn of 2021 to test a series of targets defined by surface mapping, rock and soil sampling and proximity to artisanal workings. The highlight interval intersected down-dip of historic workings located on a northeast-southwest trending structure which has been traced on surface for up to 300 metres laterally before plunging under gravel cover.

Drill crews have mobilized back to the El Sol concession to complete an additional three core holes before returning to the area of the Cerro for further drill testing on the North Felsite target. Two holes are planned to test down dip of 21SOL-003 and a third hole to test along strike from 13CLM-072 and an extension of the Blind - El Sol zone located in the southwestern part of the claim.

Rob Macdonald, Vice President Exploration stated: 'The identification of a new high-grade zone continues to highlight the enhanced exploration potential surrounding the known mineral deposits at Cerro Las Minitas. Drilling will continue on the property through early 2022, starting with follow-up drilling on the El Sol concession before transitioning back to the North Felsite target, while the company continues work on a Preliminary Economic Assessment of the known Mineral Deposits to be completed Q2-2022.'

Oro Project Update

The Company's property portfolio also includes the Oro porphyry copper-gold project located in southern New Mexico, USA, comprised of patented land, State leases and BLM mineral claims totalling 22.3 sq. km. Targeting has been finalized for a 4,000m drill program, designed to test several copper-molybdenum porphyry and copper-gold skarn targets within a broad quartz-sericite-pyrite alteration zone, interpreted to overlie an unexposed porphyry centre. Permitting and bonding are finalized and drilling is planned to commence in the first week of February, 2022.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple 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. Our property portfolio also includes the Oro porphyry copper-gold and the Hermanas gold-silver vein projects located in southern New Mexico, USA.

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This news 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 such statements. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

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