Mr. Lawrence Page reports

SOUTHERN SILVER PROVIDES CORPORATE UPDATE

At Southern Silver Exploration Corp.'s annual general meeting held on Oct. 27, 2026, the shareholders resolved to:

• Elect incumbent directors: Lawrence Page, KC, D. Roger Scammell, Nigel Bunting, Peter Cheesbrough, Ginalee Jones and Ramon Davila; Russell Ball did not stand for re-election as a director, and the company thanks him for his past service;
• Reappoint Smythe LLP, chartered accountants, as auditor;
• Approve the company's 2026 rolling incentive stock option plan pursuant to which a maximum of 10 per cent of the issued shares will be reserved for issuance under the plan;
• Ratify and confirm the company's shareholder rights plan containing the terms and conditions set forth in the shareholder rights plan agreement dated Sept. 4, 2020, between the company and Computershare Investor Services Inc. for an additional three years (until the conclusion of the 2029 annual meeting of shareholders) and approve minor amendments to the rights plan.

The following officers were reappointed subsequent to the annual general meeting: Mr. Page as president, Robert Macdonald as vice-president, exploration, Jay Oness as vice-president, corporate development, Killian Ruby as chief financial officer, and Arie Page as corporate secretary.

Southern Silver has granted incentive stock options to its directors, officers and consultants to purchase an aggregate 13.9 million common shares of the company at an exercise price of 40 cents per share exercisable for a period of five years. The stock options are subject to the terms and conditions of the company's stock option plan and the policies of the TSX Venture Exchange.

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 its 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. Its 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 are under way, both located in southern New Mexico, United States.

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