Southern Silver Exploration Corp. (TSX-V: SSV) reports that results from its Q4 ’24 “proof of concept” drilling has extended silver-polymetallic mineralization both laterally and down dip of the South Skarn deposit on the Cerro Las Minitas project, Durango, Mexico.

Six core holes totalling 2395 metres were completed as part of the drill program. Drilling tested gaps within the current block model, lateral extensions of the mineralization and successfully intersected thick intervals of mineralized skarn in a hole which tested the depth projection of the main mineralized shoot of the South Skarn deposit.

Drilling highlights from hole 24CLM-198 include:

• a 0.5 metre interval (est. TT.) averaging 154g/t Ag , 0.2g/t Au, 5.6% Cu and 0.1% Zn (834g/t AgEq) within a 8.9 metre interval (est. TT.) averaging97g/t Ag, 0.1g/t Au, 0.7% Cu, 0.1% Pb and 0.7% Zn (222g/t AgEq); and
• a 4.0 metre interval (est. TT) averaging 81g/t Ag , 0.2g/t Au, 0.1g/t Cu, 0.4% Pb and 3.9% Zn (267g/t AgEq);

Strong gold-enrichment is also identified in several hangingwall intercepts in 24CLM-198 correlating to zones of mineralization outboard of the more typical, silver-enriched polymetallic mineralization of the main skarn horizon located adjacent to the central monzonite intrusion. Highlights include:

• a 0.9 metre interval (down hole)averaging124g/t Ag, 5.2g/t Auand4.0% Pb (682g/t AgEq);and
• a 5.1 metre interval (down hole)averaging 7g/t Ag, 1.8g/t Au (167g/t AgEq)

Figure 1: Plan view of the distribution of the Cerro Las Minitas deposits. Note the South Skarn deposit on the eastern side of the Central Monzonite intrusion (in purple).

Drilling also returned a 3.5 metre (est. TT) sulphide skarn interval in drill hole 24CLM-199 representing an approximate 175 metre lateral step out from the skarn intercepts in drill hole CLM-198 and returned shallow gold-enriched oxidized intercepts in several other drill holes.

Vice President of Exploration, Rob Macdonald stated “This recent drilling successfully demonstrates both the lateral and down dip extensions of relatively shallow mineralization around the South Skarn deposit. Similar shallow targets are identified around both the Bocona and North Felsite deposits. Mineralization also remains open at depth, particularly on the eastern side of the Cerro which with further exploration, can continue to add high margin mineralization early in the modelled production scenario.”

The Company also reports that work on the Cerro Las Minitas project continues advancing numerous upside opportunities identified subsequent to the July 2024 PEA, while also derisking and advancing the project with the commencement of baseline data collection, hydrology, geotechnical, archaeological and land surveys and studies.

As currently modelled, the Cerro Las Minitas project features a large-scale underground mining operation with robust project economics and high gross revenues in a well located and mining friendly jurisdiction in southeast Durango, Mexico. For more information on the details of the current economic assessment of the Cerro Las Minitas project please refer to Southern Silver’s news release dated June 10, 2024.

Figure 2: Longitudinal section looking west of the South Skarn deposit and 2024 drilling pierce points

Table 1: Select Assay Results from the Cerro Las Minitas project.

Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis, High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration. AgEq and ZnEq were calculated using average metal prices of: US$23.00/oz silver, US$1850/oz gold, US$4.00/lbs copper and US$1.00/lbs lead and US$1.25/lbs zinc. AgEq and ZnEq calculations did not account for relative metallurgical recoveries of the metals. Ore-grade composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone Composites have <20% internal dilution, except where noted; anomalous intercepts are calculated using a 10g/t AgEq cut-off.

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. Located in the same State as the Cerro Las Minitas property is the newly acquired Nazas, gold-silver property. Our property portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway, both located in southern New Mexico, USA.

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