Mr. Lawrence Page reports

SOUTHERN SILVER RETURNS 8.9 METRES OF 222G/T AGEQ IN SOUTH SKARN DRILLING, CERRO LAS MINITAS PROJECT MEXICO

Results from Southern Silver Exploration Corp.'s Q4 (fourth quarter) 2024 proof-of-concept drilling has extended silver-polymetallic mineralization both laterally and downdip 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 that 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 (estimated true thickness (TT)) averaging 154 grams per tonne (g/t) silver (Ag), 0.2 g/t gold (Au), 5.6 per cent copper (Cu) and 0.1 per cent zinc (Zn) (834 g/t silver equivalent (AgEq)) within a 8.9-metre interval (estimated TT) averaging 97 g/t Ag, 0.1 g/t Au, 0.7 per cent Cu, 0.1 per cent Pb and 0.7 per cent Zn (222 g/t AgEq);
• A 4.0-metre interval (estimated TT) averaging 81 g/t Ag, 0.2 g/t Au, 0.1 g/t Cu, 0.4 per cent Pb and 3.9 per cent Zn (267 g/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 (downhole) averaging 124 g/t Ag, 5.2 g/t Au and 4.0 per cent Pb (682 g/t AgEq);
• A 5.1-metre interval (downhole) averaging seven g/t Ag and 1.8 g/t Au (167 g/t AgEq).

Drilling also returned a 3.5-metre (estimated TT) sulphide skarn interval in drill hole 24CLM-199, representing an approximately 175-metre lateral stepout 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 downdip 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 [project], 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, preliminary economic assessment (PEA), while also derisking and advancing the project with the commencement of baseline data collection, hydrology, and 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 southeastern 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.

About Southern Silver Exploration Corp.

Southern Silver 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. Its specific emphasis is the 100-per-cent-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. The company has 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. The company's 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 under way, both located in southern New Mexico.

Robert Macdonald, MSc, PGeo, 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.

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