Southern Silver Provides Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - September 28, 2022) - Southern Silver Exploration Corp. (TSXV: SSV) ("Southern Silver" or the "Company") reports that at the Company's annual general meeting held on September 26, 2022, the shareholders resolved to:

• Elect incumbent directors: Lawrence Page, K.C., D. Roger Scammell, Eugene Spiering, Nigel Bunting, Larry Buchanan, Peter Cheesbrough, Gina Jones and Russell Ball.
• Reappoint Smythe LLP, Chartered Accountants as auditor of Southern Silver.
• Approve the Company's 2022 rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. The plan now provides that an option term may be extended in the event of a self-imposed formal blackout period. In such case, the option would expire 10 days after the expiry of the blackout period. The plan also now includes a provision permitting a broker-assisted "cashless exercise" of stock options. The plan is subject to TSX Venture Exchange acceptance.

The following officers were reappointed subsequent to the annual general meeting: Lawrence Page, K.C. as President, Robert Macdonald as Vice President, Exploration, Graham Thatcher as Chief Financial Officer, and Arie Page as Corporate Secretary.

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 has assembled a team of highly experienced technical, operational and transactional professionals to support our efforts in developing (recent robust PEA) 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 https://www.southernsilverexploration.com or contact us at 604.641.2759 or by email at ir@mnxltd.com.

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 contains 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138728