Southern Silver Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants

Vancouver, British Columbia--(Newsfile Corp. - May 1, 2023) - Southern Silver Exploration Corp. (TSXV: SSV) (the "Company" or "Southern Silver") announces that it intends to apply to the TSX Venture Exchange ("TSXV") for approval to extend the original expiry dates of an aggregate 37,300,477 share purchase warrants (the "Warrants") as follows:

All other terms and conditions of the Warrants will remain the same. In accordance with TSXV policies, warrants issued as compensation to brokers and finders will not be extended. The proposed amendments are subject to TSXV approval.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is an exploration and development company with a focus on the identification of world-class mineral deposits in major jurisdictions, advancing them either directly or through joint-venture relationships. Our specific emphasis is on advancing the 100% owned Cerro Las Minitas project, one of the world's largest undeveloped silver-lead-zinc deposits, to a production decision.

Southern Silver has assembled a team of highly experienced technical, operational and transactional professionals to support our efforts in developing (recent robust PEA and updated Mineral Resource) the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Our property portfolio also includes the Oro porphyry copper-gold project where a diamond drill program is underway and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway; both are located in southern New Mexico, USA.

On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, K.C.
President & Director, Southern Silver Exploration Corp.

For further information, please visit Southern Silver's website at southernsilverexploration.com or contact us at 604.641.2759 or by email at [email protected].

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Southern Silver Exploration Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

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