Southern Silver Receives Technical Approvals for a Drill Program to Test Several Copper Targets at the Oro Project, New Mexico

Vancouver, British Columbia--(Newsfile Corp. - July 26, 2021) - Southern Silver Exploration Corp. (TSXV: SSV) (OTCQX: SSVFF) ("Southern Silver" and the "Company") reports it has received approvals, pending posting of bonds, from the New Mexico Mining and Minerals Division, the New Mexico State Land Office, and the Bureau of Land Management for a six-hole diamond drilling program to test several copper porphyry and skarn targets at its wholly owned Oro property, located in southwestern New Mexico, USA. Posting of the required bonds is underway and should be completed shortly. The property consists of patented land, State leases and BLM mineral claims totalling 22.3 sq. km., upon which several historic mines are located. The property covers a large, zoned Laramide-age mineralizing system containing a number of highly prospective, district-scale, copper-molybdenum and distal sediment-hosted, oxide-gold targets.

Targeting was based upon 3D modelling of data generated by geologic mapping, historic drill holes, geochemical zoning studies, alteration clay studies, and geophysical surveys. A 6-hole (4,000-metre) diamond drill program is planned to test several of the copper-molybdenum porphyry and copper-gold skarn targets within a broad quartz-sericite-pyrite alteration zone, interpreted as a lithocap overlying an unexposed porphyry centre. Drilling is expected to commence in Q3 2021.

Interpretive Cross Section with Targets

To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/5344/91087_51cbf53b24e0c93d_002full.jpg^[1].

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is a precious and base metal exploration and development company with a focus on the discovery of world-class mineral deposits in north-central Mexico and in the Southern USA. Our specific emphasis is the 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, 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 property portfolio also includes the 100% owned Oro porphyry copper-gold project located in southern New Mexico, USA. The Oro claim package covers a large zoned Laramide-age mineralizing system containing a number of highly prospective, drill -ready porphyry/skarn and distal gold targets. The Company engages in the acquisition, exploration and development either directly or through joint-venture relationships in mineral properties in major jurisdictions.

Robert Macdonald, MSc. P.Geo, is the VP Exploration of Southern Silver Exploration Corporation, is a Qualified Person as defined by National Instrument 43-101 and is responsible for the supervision of the Company's exploration programs and for the preparation of the technical information in this disclosure.

On behalf of the Board of Directors

"Lawrence Page"

Lawrence Page, Q.C.

President & Director, Southern Silver Exploration Corp.

For further information, please visit Southern Silver's website at southernsilverexploration.com^[2] or contact us at 604.641.2759 or by email at ir@mnxltd.com^[3].

Neither 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 news release may contain 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91087^[4].

References

1. ^{^} https://orders.newsfilecorp.com/files/5344/91087_51cbf53b24e0c93d_002full.jpg (orders.newsfilecorp.com)
2. ^{^} southernsilverexploration.com (www.newsfilecorp.com)
3. ^{^} ir@mnxltd.com (www.newsfilecorp.com)
4. ^{^} https://www.newsfilecorp.com/release/91087 (www.newsfilecorp.com)