Southern Silver Exploration Corp. press release

Southern Silver Intersects 6.3 Metres Averaging 874g/t AgEq at Cerro Las Minitas Project in Durango, México

2026-03-19

TSXV - TSX Venture Exchange · Silver · Gold · Copper · Lead · Zinc · Rare Earth Elements · Canada · Drill Results

Southern Silver Intersects 6.3 Metres Averaging 874g/t AgEq at Cerro Las Minitas Project in Durango, México

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2026) - Southern Silver Exploration Corp. (TSXV: SSV) (the "Company" or "Southern Silver") reports additional assays from drilling which further extend mineralization on the Puro Corazon claim and continues to identify thick intervals of high-grade and strongly silver-enriched polymetallic mineralization.

This current update includes results from five new core holes from the 2025-26 drill program and an extension of a single hole, originally collared in 2012. The highlight assays include bonanza-grade mineralization from a hangingwall zone that correlates with mineralization in the Blind Zone deposit outside of the Puro Corazon claim and returned:

a 6.3 metre interval averaging 395g/t Ag, 0.8%g/t Cu, 6.8% Pb and 10.8% Zn (874g/t AgEq), including a 1.5 metre interval averaging 886g/t Ag, 0.8% Cu, 16.3% Pb and 30.2% Zn (2062g/t AgEq)(1) from drillhole 26CLM-217;

Additional highlights include results from holes which tested the Puro Corazon skarn and returned:

a 12.0 metre interval averaging 138g/t Ag, 0.1g/t Au, 2.0% Pb and 1.6% Zn (225g/t AgEq), including a 3.3 metre interval averaging 173g/t Ag, 0.1g/t Au, 4.8% Pb and 5.2% Zn (414g/t AgEq)(1) from drillhole 26CLM-42A; and

a 3.5 metre interval averaging 111g/t Ag, 0.6% Cu, 4.7% Pb and 8.8% Zn (484g/t AgEq), including a 1.2 metre interval averaging 142g/t Ag, 0.9% Cu, 7.2% Pb and 18.0% Zn (827g/t AgEq)(1) from drillhole 26CLM-220.

(1) see AgEq calculation criteria in notes to Table 1. Intervals are reported as estimated true thickness unless otherwise indicated

Mineralization in these holes is localized within the skarn-altered halo immediately adjacent to the central intrusion or alternatively, form carbonate replacement zones, further out-board from the intrusive body at the skarn / marble transition. Drilling continues to confirm the continuity of the mineralization which has now been tested to depths of over 500 metres below surface.

All twenty-three of the planned holes are now complete and drill crews have been demobilized from the property. Analyses from twenty drill holes have been reported with further assays, including those from underground sampling of the historic Puro Corazon workings, anticipated over the coming weeks.

Figure 1: Plan view of the drilling on the recently acquired Puro Corazon Claim.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5344/289069_d24220c884512ab6_002full.jpg

Figure 2: Longitudinal Section of the Puro Corazon Target. Note: pierce points reflect intercepts into the main Skarn zone

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5344/289069_d24220c884512ab6_003full.jpg

Table 1: Select Assay Results from the Cerro Las Minitas project.

Collar Data

Est.

Hole #AzDipDepthFromToInterval Tr. Thck.AgAuCuPbZnAgEqNotes

Deg Deg(m)(m)(m)(m)(m)(g/t)(g/t)(%)(%)(%)(g/t)

25CLM-042A45-45381237.3252.014.812.01380.10.02.01.622531% Dilution

inc.

237.3241.44.13.31730.10.14.85.2414

25CLM-042A

264.9268.63.73.0950.00.21.11.0156

25CLM-21680-54.8513235.0235.80.80.41630.00.30.33.6285

25CLM-216

285.5295.19.65.2620.70.11.31.4163

25CLM-216

336.0346.310.35.61030.20.02.11.218659% Dilution

inc.

337.2338.41.20.73571.40.18.03.7680

and inc.

341.7342.10.50.24200.00.27.510.5857

and inc.

346.0346.30.30.27320.00.015.50.21035

25CLM-216

411.0415.64.63.0670.00.21.42.4174

inc.

414.7415.60.90.62000.10.76.110.0638

25CLM-216

420.7424.33.62.3880.20.60.71.6196

inc.

421.8423.11.40.91560.40.81.42.5323

25CLM-21787-46.0516184.4192.88.36.33950.10.86.810.8874

inc.

184.4186.42.01.58860.10.816.330.22062

25CLM-217

258.0258.40.40.31770.20.04.92.1339

25CLM-217

268.0271.33.42.51890.10.01.81.5269

25CLM-217

464.4477.713.312.5430.00.10.14.817849% Dilution

inc.

472.9473.80.90.91630.00.10.231.71020

and inc.

476.9477.20.30.31370.00.10.227.1873

25CLM-21844-64.3399215.2216.71.51.11440.10.03.20.6227

25CLM-218

302.0302.70.60.52050.00.15.61.9374

25CLM-218

305.9306.40.50.41670.00.21.23.7305

25CLM-219105-53.068164.266.22.01.4850.00.12.23.5225

25CLM-219

310.9315.04.13.0630.00.12.13.2196

25CLM-219

338.2342.34.23.1730.00.11.30.7126

25CLM-219

531.9535.03.12.31110.00.00.87.533132% dilution

inc.

531.9532.91.00.72680.00.11.312.3628

25CLM-219

585.3586.51.30.9470.00.00.53.7158

25CLM-219

602.3611.18.86.550.00.00.03.610336% dilution

inc.

602.3603.61.31.0120.00.00.18.5245

and inc.

608.8609.40.60.4110.00.10.015.1422

26CLM-22072-59.0399112.1115.73.72.8920.00.13.06.0320

inc.

114.4115.71.31.01950.10.25.210.8598

26CLM-220

133.4134.00.70.5880.00.03.62.3219

26CLM-220

294.3297.12.92.5940.00.20.53.0197

inc.

294.3294.80.50.4610.00.50.113.7467

26CLM-220

301.3305.33.93.51110.00.64.78.8484

inc.

301.3302.71.41.21420.00.97.218.0827

and

317.0320.53.63.11090.00.72.02.5264

and

329.0334.95.95.2690.01.80.83.2304

inc.

329.0330.01.00.92910.010.30.310.61331

Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis,

High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration. AgEq and ZnEq were calculated using prices of $2,800/oz Au, $32/oz Ag, $4.50/lb Cu, $0.95/lb Pb and $1.25/lb Zn.

AgEq and ZnEq calculations utilized relative metallurgical recoveries of Au 48.6%, Ag 93%, Cu 70%, Pb 87% and Zn 93%.

Composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone. Composites have <20% internal dilution, except where noted; anomalous intercepts are calculated using a 10g/t AgEq cut-off.

Next Steps

The Company is planning to incorporate the results of the Puro Corazon drilling program into the much larger Cerro Las Minitas project which is expected to significantly enhance the project economics and the mine plan. Final assays are anticipated to be received by the end of the first quarter of 2026, after which the Company intends to:

update the Mineral Resource Estimate of the Cerro Las Minitas project; followed by

an update of the Preliminary economic Assessment ("PEA") of the project in accordance with the provisions of National Instrument 43-101 and

continue to advance baseline data collection and permit readiness review

The Company reports that work on the Cerro Las Minitas project continues advancing numerous upside opportunities identified subsequent to the July 2024 PEA, while also derisking and advancing the project with the commencement of baseline data collection, hydrology, 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 southeast 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 Exploration Corp. 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. Our specific emphasis is the 100% 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. We have 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. Our 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 underway, both located in southern New Mexico, USA.

Robert Macdonald, MSc. P.Geo, 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. He is responsible for and approves the presentation of the technical information in this disclosure.

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 corpdev@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. Forward-looking statements in this news release include plans to advance and develop the CLM property including updating the Mineral Resource Estimate followed by an update of the PEA. These statements are based on a number of assumptions, including, but not limited to, general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the Company's projects, and the availability of financing for the Company's development projects on reasonable terms. 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.

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