Electrum Completes Initial Earn-in on Southern Silver's Cerro Las Minitas Project, Mexico; Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 18, 2015) - Southern Silver Exploration Corp. (TSX VENTURE:SSV) (FRANKFURT:SEG1) (SSE:SSVCL) ("Southern Silver") reported today that Electrum Global Holdings L.P. ("Electrum") has provided an additional tranche of funds to Southern Silver as operator and now has contributed a total of US$2.0 million and earned-in for an indirect 30% interest in the Cerro Las Minitas project in Durango, Mexico.

Electrum has the right to earn an additional 20% by expending US$1.5 million in exploration expenditures in the succeeding 30 months of the option term. A final 10% interest may be earned by expending an additional US$1.5 million in exploration expenditures during this time period. Electrum has been encouraged by the results to date on the 2015 exploration program and has advised Southern Silver that it is prepared to exceed the initial US$2.0 million in expenditures and to continue funding exploration expenses subsequent to completion of the current 10,000m drill program expected to be concluded by early 2016.

2015-16 Exploration Update

Management is very pleased with the results received from the systematic exploration and definition drilling on the Cerro Las Minitas project, and will continue targeting both known zones of mineralization and new additional discovery zones on the property. Nine holes totaling approximately 6250 metres have been completed on the project as part of the 2015 exploration program. Two holes are currently in progress and include the extension of 11CLM-010 and is designed to test down-dip of mineralization from the new discovery hole 15CLM-078. Hole 15CLM-078 was collared ~ 350 metres outboard of Mina La Bocona intersecting previously unrecognized mineralized structures which included an upper oxide gold zone that graded 7.8m (3.9m est. TT) of 13.5g/t Au, 37g/t Ag, 3.9% Pb/Zn (see NR-10-15).

Five drill sites remain to be tested in the area of the central intrusion and additional targets are being developed in other parts of this +130 square kilometre property. Sample intervals from drill holes 15CLM-081, (testing the extension of the Blind/El Sol zones) and holes 15CLM-082 and -083 (step-outs from hole 15CLM-078) have been submitted for assay. Results are pending and will form the basis of the next update.