Southern Silver Exploration Corp. announced that drilling continues to extend high-grade Ag-polymetallic mineralization at the newly identified North Felsite Target on the Cerro Las Minitas project, Durango, Mexico. The North Felsite target is an area located approximately 400 metres to the northwest of the La Bocona and Mina Pina shafts on the eastern side of the Cerro, in an area that was not included in the most recent NI43-101 Mineral Resource update on the property.

This current drilling tested down dip of previously reported intercepts from drill holes 21CLM-175 and 21CLM-172 and now extends the projection of mineralization within the North Felsite zone to over 400 metres below surface and upwards of 250 metres along strike, making it a potentially substantial discovery. More drilling remains to be completed on this target including lateral and down-dip step-outs of this newly identified lens of mineralization which will form the basis of further exploration on the property in 2022. Drilling resumed on the property in early January.

As part of these new exploration efforts, three additional holes were completed on the El Sol claim to follow-up on recently reported high-grade mineralization in 21Sol-003. Assays from these three holes are pending and anticipated over the coming weeks. Eight holes totaling 2,920 metres have been completed on the El Sol concession in 2021-22.

Drilling has now resumed on the North Felsite target. Initial drilling will step-out from hole 21CLM-181 as it targets additional mineralization both along strike and at depth. Ten drill holes totalling 3,896 metres were completed in the North Felsite target area in the Fall of 2021.

Oro Project Update: The Company 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 and permitting and bonding completed 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.

Drilling is planned to commence in February, 2022. Cerro Las Minitas Project: Southern Silver continues to advance the Cerro Las Minitas project as one of the world's largest undeveloped silver/lead/zinc resources, through advanced exploration, pre-production metallurgical and engineering work, and economic assessment. The CLM Ag-Pb-Zn-Cu Skarn system is well located in southern Durango, Mexico, in a safe jurisdiction, surrounded by producing companies, with easy access and strong community support.

A total of 190 drill holes for 81,646 metres has been completed on the CLM Project with exploration expenditures of approximately $30.0 million equating to exploration discovery costs of approximately $0.09 per AgEq ounce.