Oxide-Gold And Sulphide Zones Extended At The Cerro Las Minitas

VANCOUVER - Southern Silver Exploration Corp. reported further intervals of gold-enriched oxide and sulphide mineralization in step out drilling as well as a significant downhole extension of earlier reported high-grade, silver-enriched polymetallic sulphide mineralization in drill hole 20CLM-125 at the Mina La Bocona zone, Cerro Las Minitas project, Durango Mexico. New assay results from drill hole 20CLM-125 have extended an earlier reported 19.8 meter down hole mineralized interval to a full 50.6 meters (32.2m est. TT) of semi-continuous mineralization averaging 435g/t AgEq including new higher-grade intervals of: a 9.3m down-hole interval (6.1m est. TT) averaging 344g/t Ag, 0.59g/t Au. 5.7% Pb and 3.9% Zn (728g/t AgEq; 18.5% ZnEq); a 2.2m down-hole interval (1.4m est. TT) averaging 520g/t Ag, 0.34g/t Au, 10.6% Pb and 9.8% Zn (1268g/t AgEq; 32.2% ZnEq); and a 7.5m down-hole interval (5.0m est. TT) averaging 364g/t Ag, 0.3g/t Au, 7.0% Pb and 1.8% Zn (678g/t AgEq; 17.2% ZnEq).

Results from drill hole 20CLM-125 have also identified: in the sulphide zone, a relatively narrow interval of bonanza-grade silver mineralization a further 60m down hole and adjacent to the Central Intrusion which returned a 1.4m interval (1.0m est. TT) grading 1070g/t Ag, 0.09g/t Au, 23.3% Pb and 3.2% Zn (1,937g/t AgEq; 49.1% ZnEq); in the upper oxide-gold zone (first reported in NR-16-20, December 16th, 2020) an extension of the zone of mineralization to 56.8m (30.9m est. TT) averaging 0.87g/t Au and 24g/t Ag.

The mineralization identified in drill hole 20CLM-125 is the second, thick sulphide zone identified in this part of the Mina La Bocona target area. It represents a 12m to 25m lateral and down dip extension of mineralization first identified in drill hole 15CLM-078 from the 2015 drilling program and opens up the additional potential for further down-dip extensions of the sulphide mineralization which will be a continued focus of drilling in this current exploration program.

Results from drill hole 20CLM-127 which was cored up-dip from drill hole 20CLM-125, on the same azimuth, returned both gold-enriched oxide and deeper sulphide mineralization including: a 43.2m down-hole interval (26.5m est TT) averaging 0.37g/t Au and 26g/t Ag of shallow oxide mineralization; and a 10m down-hole interval (6.1m est TT) averaging 162g/t Ag, 0.57g/t Au, 3.2% Pb and 1.3% Zn (359gt/t AgEq; 9.1% Zn) that correlates with the deeper sulphide mineralization.

Assay results from drill hole 20CLM-127 complement the sulphide and oxide mineralization previously identified in both drill holes 20CLM-125 and 15CLM-078 and highlight the continued exploration potential of the sulphide mineralization to depth and of the shallow oxide mineralization laterally to the southeast. Further drilling is continuing as part of the 2020-21 program to test both of these mineralized projections.

The identification of new thick zones of high-grade sulphide mineralization on the east side of the Cerro, complements the results from earlier drilling and greatly adds to the company's confidence that it can meet or exceed its exploration goals. The now expanded oxide-gold zone remains an intriguing new target for further delineation in 2021.

President Lawrence Page, Q. C., said, "The present mineral resource estimate is based upon results derived from drill holes situate on the West side of the Cerro. Results from seventeen drill holes located on the East side of the Cerro, many containing high-grade mineralization, are not included in the 2019 Resource Estimate. Drilling currently being conducted on the east side of the Cerro is producing significant values of both oxide and sulphide mineralization, the results of which, together with results of the seventeen drill holes previously drilled, will be incorporated into an updated 43-101 Mineral Resource Estimate leading to further economic assessment studies incorporating all data later in 2021."