Mineralization Extended At Mina La Bocona And South Skarn Targets

VANCOUVER - Southern Silver Exploration Corp. reported results which continue to extend both shallow gold-silver enriched oxide mineralization and high-grade polymetallic sulphide mineralization at the South Skarn and Mina La Bocona target areas on the Cerro Las Minitas project, Durango, Mexico.

Newly released polymetallic sulphide intercepts from the Mina La Bocona target area include: a 2.1 meter interval (1.8 meter est. TT) averaging 161g/t Ag, 0.1g/t Au, 4.9% Pb and 3.0% Zn (445g/t AgEq) including a 0.5 meter interval (0.4 meter est. TT) averaging 422g/t Ag, 0.4g/t Au, 13.2% Pb and 9.1% Zn (1229g/t AgEq) from drill hole 21CLM-151; and 4.3 meter interval (2.6 meter est. TT) averaging 159g/t Ag, 0.1g/t Au, 2.4% Pb and 3.5% Zn (387g/t AgEq) including a 0.5 meter interval (0.3 meter est. TT) averaging 428g/t Ag, 0.2g/t Au, 0.1% Cu, 6.1% Pb and 1.5% Zn (705g/t AgEq) from drill hole 21CLM-148; Mineralization identified in drill holes 21CLM-148 and -151 continues to extend earlier identified high-grade sulphide mineralization for up to 450 meters down dip and an approximate 250 meter strike-length at the Mina La Bocona target.

This recent drilling at the South Skarn target continues to extend that zone laterally to the southeast and up-dip from earlier reported mineralization in this target area including shallow gold-enriched oxide mineralization from drill hole 21CLM-154 (2.2m est. TT averaging 77g/t Ag, 1.1g/t Au) and deeper, higher-grade gold in sulphides from drill hole 21CLM-155 (1.1m est. TT grading 149g/t Ag and 8.8g/t Au).

Other mineralized intervals of note from the South Skarn target include: an 18.1 meter interval (14.0 meter est. TT) averaging 162g/t Ag, 0.2g/t Au, 1.4% Pb and 0.5% Zn (242g/t AgEq) including a 0.6 meter interval (0.4 meter est. TT) averaging 1150g/t Ag, 0.1g/t Au, 6.0% Pb and 2.7% Zn (1485g/t AgEq) from drill hole 21CLM-155; 1.1 meter interval (1.0 meter est. TT) averaging 227g/t Ag, 0.1g/t Au, 3.7% Pb and 1.9% Zn (423g/t AgEq) from drill hole 21CLM-154; and Drilling in 2020-21 on the South Skarn target has now demonstrated continuity of the polymetallic mineralization for over 350 meters along strike and up to 400 meters down dip. Two additional holes have been completed on the northern end of this target. Assays are pending.

Exploration on the project continues with two drills on the property; the current program has now completed 54 core holes totaling 20,207 meters since drilling recommenced in September 2020. Assay results from 11 drill holes are pending and are anticipated over the coming weeks.

Southern Silver has now tested over 750 meters of strike length along the east side of the Cerro to depths of up to 500 meters, primarily in the South Skarn and Mina La Bocona target areas. Three bonanza grade mineralized zones have been identified and testing of a potential fourth high-grade zone is nearing completion, results of which will be incorporated into the upcoming mineral resource update on the project.