Southern Silver Continues to Identify High-grade Silver Within a 400 Metre Strike at the Cerro Las Minitas Project; Oro Cu-Au-Mo Project, Update

Southern Silver Exploration Corp. (TSXV: SSV) ("Southern Silver") reported assay results from its final four drill holes on the North Felsite - North Skarn targets which continues to confirm and extend silver-polymetallic mineralization on the Cerro Las Minitas project, Durango, Mexico.

Drilling tested an eastern projection of the North Skarn target at approximately 400 metres below surface. Mineralization remains open both laterally to the east and at depth and demonstrates continuity with previously drilled mineralization in the Skarn Front deposit. Drilling also tested gaps within the current drill pattern around hole 21CLM-175 (1.9m of 1530g/t AgEq; see NR-19-21).

Highlight intercepts from the four drill holes include:

a 0.8 metre interval (0.6 metre est. TT.) averaging 746g/t Ag, 0.1g/t Au, 0.2% Cu, 17.1% Pb and 13.2% Zn (1904g/t AgEq) within a 2.6 metre interval (2.0 metre est. TT.) averaging 336g/t Ag, 0.1g/t Au,0.2% Cu, 6.5% Pb and 4.7% Zn (780g/t AgEq) from drill hole 22CLM-194; and
a 3.4 metre interval (3.0 metre est. TT.) averaging 219g/t Ag, 2.5% Pb and 0.6% Zn (333g/t AgEq) from drill hole 22CLM-193;

Drilling on these targets, which started in September 2021, has now tested a 400 metre strike-length of mineralization which wraps around the eastern and northern perimeter of the Central Intrusion and links previously identified mineralization in the Mina La Bocona and Skarn Front deposits. Twenty-five holes totaling 11,275 metres were completed in the two target areas to depths of up to 450 metres below surface.

Vice President of Exploration Rob Macdonald states: "Drilling over the last 15 months has helped confirm the projection and continuity of new mineralization between the Mina La Bocona and Skarn Front deposits. Work has now started on modelling the data which will be used in an updated Mineral Resource Estimate for the project with the results anticipated in Q1 2023. Current engineering suggests that new Mineral Resources can be processed in the current Life-of-Mine design as described in the Company's PEA on the Cerro Las Minitas Project, available on SEDAR and as described in NR-07-22; August 29, 2022. The Company continues to work on these and other engineering upgrades to the project."

Figure 1: Plan Map of the Area of the Cerro showing the distribution of the CLM deposits at the North Felsite and North Skarn targets.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5344/142083_333e93af84c6f8e3_002full.jpg

Figure 2: Longitudinal Section looking south of the North Felsite target area showing the distribution of Southern Silver's most recent drill holes.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/5344/142083_333e93af84c6f8e3_003full.jpg

Oro Project, New Mexico, USA.

Drilling continues on the Oro project, designed to test several copper-molybdenum porphyry and copper-gold skarn targets within a broad phyllic alteration zone, interpreted to overlie an unexposed porphyry center.

Initial drilling and assays have identified thick zones of strongly anomalous copper mineralization, classic porphyry geochemical and alteration zonation, increasing molybdenum and copper at depth and several unexposed hydrothermal diatreme breccias. Three holes totaling 2,926m have been completed; a fourth hole is now in progress. Assays have been returned from two of the holes. Logging and sampling continue with assays pending from one of the completed holes and the current hole in progress.

Table 1a: Select Assay Intervals from North Felsite - North Skarn Target Area.

Hole #	From	To	Interval	Est. Tr. Thck.	Ag	Au	Cu	Pb	Zn	AgEq	ZnEq
	(m)	(m)	(m)	(m)	(g/t)	(g/t)	(%)	(%)	(%)	(g/t)	(%)
New Assays: North Felsite - North Skarn

22CLM-192	408.6	411.0	2.4	1.2	181	0.01	0.39	1.5	1.5	338	8.2


22CLM-193	409.7	416.0	6.3	5.6	124	0.02	0.03	1.4	0.4	195	4.7
inc.	409.7	413.0	3.4	3.0	219	0.02	0.04	2.5	0.6	333	8.1


22CLM-194	81.2	84.7	3.5	2.3	140	0.04	0.01	1.9	0.1	212	5.2

22CLM-194	289.5	290.4	0.9	0.7	386	0.17	0.25	6.0	4.7	827	20.1

22CLM-194	306.2	308.8	2.6	2.0	336	0.14	0.16	6.5	4.7	780	18.9
inc.	306.2	307.0	0.8	0.6	746	0.09	0.22	17.1	13.2	1904	46.3


22CLM-195	NSV	NSV	NSV	NSV	NSV	NSV	NSV	NSV	NSV	NSV	NSV

Previously Reported Assays: North Felsite - North Skarn

21CLM-172	210.5	211.2	0.7	0.4	313	0.25	0.07	7.0	1.3	610	15.5


21CLM-173	328.0	329.6	1.6	0.9	5	0.46	0.22	0.0	1.2	113	2.9


21CLM-174	157.1	157.6	0.5	0.3	147	0.02	0.00	2.1	0.1	217	5.5


21CLM-175	224.0	226.7	2.7	1.9	599	0.08	0.03	16.9	10.2	1530	38.8
inc.	224.0	225.2	1.2	0.8	760	0.07	0.03	23.2	17.4	2169	55.0


21CLM-176	291.3	295.1	3.8	2.6	78	1.1	0.0	1.1	0.4	223	5.6
inc.	291.3	291.6	0.4	0.2	24	11.2	0.0	0.3	0.1	965	24.5

21CLM-176	362.7	371.1	8.5	5.8	151	0.1	0.1	3.1	1.0	308	7.8
inc.	362.7	363.7	1.1	0.7	487	0.2	0.2	12.9	3.0	1040	26.4


21CLM-177	294.9	296.8	1.9	1.5	194	0.2	0.0	4.3	2.5	443	11.2
inc.	295.8	296.3	0.5	0.4	515	0.4	0.1	12.0	6.8	1190	30.2

and	303.2	318.0	14.8	11.8	185	0.2	0.1	2.8	1.0	336	8.5
inc.	303.2	307.0	3.8	3.0	354	0.7	0.1	6.1	2.6	713	18.1


21CLM-178	245.2	250.2	5.0	4.6	63	2.0	0.1	0.8	0.5	288	7.3
inc.	245.2	246.3	1.1	1.0	21	5.3	0.0	0.1	0.1	471	11.9


21CLM-179	256.4	259.3	2.9	2.6	140	0.9	0.1	3.6	5.7	561	14.2
inc.	257.8	258.3	0.5	0.4	219	2.6	0.1	4.5	11.5	1028	26.1

and	345.7	348.0	2.4	2.1	109	0.0	0.0	1.9	1.4	228	5.8
inc.	347.6	348.0	0.4	0.4	165	0.1	0.0	3.6	7.3	573	14.5

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 average metal prices of: US$20/oz silver, US$1650/oz gold, US$3.25/lbs copper and US$0.9/lbs lead and US$1.15/lbs zinc. AgEq and ZnEq calculations did not account for relative metallurgical recoveries of the metals. Ore-grade composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone Composites have

Table 1b: Select Assay Intervals from North Felsite - North Skarn Target Area.

Hole #	From	To	Interval	Est. Tr. Thck.	Ag	Au	Cu	Pb	Zn	AgEq	ZnEq
	(m)	(m)	(m)	(m)	(g/t)	(g/t)	(%)	(%)	(%)	(g/t)	(%)
Previously Reported Assays: North Felsite - North Skarn con't

21CLM-180	400.3	400.9	0.6	0.4	1430	1.2	1.2	9.7	11.5	2419	61.3

and	404.0	405.8	1.8	1.2	79	0.1	0.4	0.2	5.1	337	8.6
inc.	405.3	405.8	0.6	0.4	129	0.1	1.1	0.2	13.8	812	20.6


21CLM-181	321.9	327.0	5.1	3.7	174	0.5	0.1	1.5	0.9	310	7.9
inc.	324.9	325.6	0.7	0.5	914	2.1	1.0	7.2	4.8	1604	40.7

21CLM-181	468.0	476.0	8.0	5.7	234	0.1	0.3	1.1	2.0	384	9.7
inc.	470.3	474.8	4.4	3.2	379	0.1	0.5	1.7	2.6	595	15.1

21CLM-181	482.9	484.2	1.3	0.9	280	0.1	0.1	3.8	4.5	600	15.2
inc.	483.4	483.8	0.4	0.3	852	0.3	0.4	11.0	14.8	1846	46.8


22CLM-182	333.8	351.1	17.3	14.1	55	0.7	0.1	0.4	0.7	162	4.1
inc.	346.5	347.3	0.8	0.7	451	1.1	0.0	2.0	1.2	651	16.5

22CLM-182	497.7	500.9	3.2	2.6	195	0.1	0.1	0.6	2.5	328	8.3
inc.	499.3	500.9	1.6	1.3	368	0.0	0.1	1.1	3.7	568	14.4


22CLM-183	535.4	538.4	3.0	2.2	85	0.0	0.0	1.6	3.6	278	7.1
inc.	537.7	538.4	0.7	0.5	115	0.1	0.0	2.2	5.7	413	10.5


22CLM-184	378.8	396.3	17.5	11.7	7	1.1	0.0	0.1	0.2	112	2.8
inc.	384.5	385.9	1.4	1.0	19	5.6	0.0	0.3	0.1	495	12.5

22CLM-184	418.3	427.3	8.9	6.0	117	0.1	0.1	1.1	1.0	213	5.4
inc.	422.2	423.3	1.2	0.8	302	0.2	0.4	2.9	0.7	485	12.3


22CLM-185	472.2	474.5	2.3	1.8	1001	0.3	0.8	2.4	3.3	1321	33.5
inc.	473.3	474.5	1.2	1.0	1785	0.5	1.4	3.1	5.9	2309	58.6


22CLM-186	410.2	411.0	0.8	0.6	107	7.0	0.0	7.6	4.9	1116	28.3

22CLM-186	481.0	481.6	0.6	0.5	649	0.1	0.9	5.1	4.4	1088	27.6


22CLM-187	494.7	496.9	2.2	1.9	162	0.6	0.3	1.5	0.6	314	8.0
inc.	494.7	495.4	0.7	0.6	499	0.1	0.4	4.6	1.5	759	19.2


22CLM-188	441.8	457.8	16.0	12.7	128	0.0	0.0	0.8	1.1	202	5.1
inc.	455.6	457.2	1.6	1.3	675	0.0	0.3	5.5	3.4	1008	25.6


22CLM-189	469.5	470.0	0.5	0.4	1130	0.1	2.1	9.8	11.9	2143	54.3


22CLM-190A	342.6	343.4	0.8	0.6	462	0.0	0.1	11.1	3.0	937	23.8


22CLM-191	453.2	460.4	7.2	4.7	123	0.0	0.8	0.4	0.6	251	6.4
inc.	455.6	456.2	0.6	0.4	848	0.0	5.6	0.7	2.6	1596	40.5

22CLM-191	474.7	478.7	4.0	2.6	77	0.0	4.4	0.2	0.9	617	15.6
inc.	474.7	476.2	1.5	1.0	165	0.1	11.5	0.1	0.4	1463	37.1

Cerro Las Minitas Project

Southern Silver continues to advance the Cerro Las Minitas project as one of the world's largest undeveloped silver/lead/zinc resources, through advanced exploration, pre-production metallurgical and engineering work, and economic assessment. The CLM Ag-Pb-Zn-Cu Skarn system is well located in southern Durango, Mexico, in a safe jurisdiction, surrounded by producing mining companies, with easy access and strong community support.

A total of 226 drill holes for 96,411 metres has been completed on the CLM Project with exploration expenditures of over US$35.0 million equating to exploration discovery costs of approximately C$0.09 per AgEq ounce.

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.

The scientific and technical content of this news release was compiled, reviewed and approved by Robert Macdonald, MSc. P.Geo, VP. Exploration, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

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.

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SSV:CA

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

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:

Number of Warrants	Exercise Price per Share	Closing Date of Private Placement	Original Expiry Date	Proposed Amended Expiry Date
15,597,500	$0.35	August 14, 2020	August 14, 2023	August 14, 2025
8,502,977	$0.38	August 14, 2020	August 14, 2023	August 14, 2025
1,200,000	$0.50	September 11, 2020	September 11, 2023	September 11, 2025
9,000,000	$0.75	June 16, 2021	June 16, 2023	June 16, 2026
3,000,000	$0.75	June 21, 2021	June 21, 2023	June 21, 2026

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Southern Silver Reports 9.1metres of 0.92% CuEq in a Recon Hole Testing Skarn/CRD Mineralization at the Oro Project, New Mexico; Corporate Update

Southern Silver Exploration Corp. (TSXV: SSV) ("Southern Silver" and the "Company") reports that it has received assay results from the final two core holes of its 4,050-metre, 2022 drilling program at its wholly owned Oro property, located in the Laramide-age, porphyry copper belt in southwestern New Mexico, USA.

Hole OR22-012 tested a strong ZTEM geophysical anomaly in an area believed to be relatively high in the metal system and where Cretaceous-age carbonate host rocks were expected to lie at relatively shallow depths beneath Laramide-age andesite volcanic rocks. The hole intersected veins with strongly anomalous gold (12.4 g/t over 0.8 metres at 495.7 metres depth)* in a banded anhydrite+pyrite+calcite breccia vein and, deeper in the hole, intersected anomalous silver and lead (908 g/t Ag and 10.4% Pb over 0.2 metres at 594.6 metres depth) in a barite+galena vein, consistent with expected metal zoning. Favourable carbonate host rocks were intersected with abundant sulfide minerals below a 6-metre-thick massive anhydrite vein at roughly 590-metres depth. The 427.2-metres interval from 578.6 to 1,005.8 metres averages 0.15% CuEq (0.08% Cu, 0.01% Mo, and 1.4g/t Ag), with variable mineralization continuing to the end of the hole at 1,006 metres depth. The strongest mineralization is 9.1 metres of 0.59% Cu, 0.01% Mo, 0.3 g/t Au, and 2.3g/t Ag (0.92% CuEq) from 834.5 to 843.7 metres in a carbonate replacement zone with abundant magnetite, specular hematite, and epidote with minor pyrite, calcite, and anhydrite. Dikes ranging from unaltered to strongly altered are common throughout the hole.

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Southern Silver Provides Mineral Resource Update That Includes Newly Identified Shallow High-Grade Deposit at the Cerro Las Minitas Project

Mineral Resource Update:
Indicated 140Mozs AgEq or 2.3Blbs ZnEq: 42.7Mozs Ag, 364Mlbs Pb, and 903Mlbs Zn; and
Inferred 210Mozs AgEq or 3.5Blbs ZnEq: 80.0Mozs Ag, 571Mlbs Pb, and 1,029Mlbs Zn

Southern Silver Exploration Corp. (TSXV: SSV) ("Southern") reports that Kirkham Geosystems Ltd. has completed an update of its independent Mineral Resource Estimate ("MRE") on the Cerro Las Minitas project in Durango State, Mexico. The updated MRE significantly expands sulphide resources in the La Bocona deposit through the incorporation of the North Felsite zone into the resource model. The revised estimate utilizes the same metal pricing and metallurgical recoveries as the previous 2021 MRE, utilizes a Net Smelter Return ("NSR") cut-off, as detailed in Table 1, and reports average grades on a AgEq, ZnEq and $USt NSR basis. The Mineral Resource estimates for the South Skarn, Blind-El Sol Skarn Front and Las Victorias deposits and the small oxide resource initially estimated in 2021, remains unchanged in this current update.

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Southern Silver Exploration Corp. Announces Participation in Red Cloud's 2022 Fall Mining Showcase in Toronto

Southern Silver Exploration Corp. (TSXV: SSV) is pleased to announce that the company will be presenting at Red Cloud's 2022 Fall Mining Showcase. We invite our shareholders and all interested parties to join us there.

The annual conference will be hosted in-person, at the Sheraton Centre Toronto Hotel from November 9-10, 2022.

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CORRECTION FROM SOURCE: Southern Silver Files NI43-101 Technical Report for its Preliminary Economic Assessment for the Cerro Las Minitas Project

This document corrects and replaces in its entirety the previous release that was issued by Southern Silver Exploration Corp. earlier today, October 13th, 2022 at 5:39pm ET.

Southern Silver Exploration Corp. (TSXV: SSV) ("Southern Silver") reports that it has filed on SEDAR its National Instrument 43-101 Technical Report titled Preliminary Economic Assessment of the Cerro Las Minitas Project, Durango State, Mexico, dated October 13, 2022 (the "Technical Report"). The report was authored by M3 Engineering & Technology Corp. ("M3"), Kirkham Geosystems Ltd. ("KGL"), Entech Mining Limited ("Entech"), and Metallurgical Process Consultants Limited ("MPC").

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Silver Crown Royalties Announces Corporate Update

(TheNewswire)

TORONTO, ON, January 10, 202 5 TheNewswire - Silver Crown Royalties Inc. (" Silver Crown ", " SCRi ", the " Corporation ", or the " Company ") (CBOE:SCRI; OTCQX:SLCRF; FRA:QS0) wishes to provide an update on its 2024 progress and 2025 expectations. Based on minimum silver payment obligations, we anticipate receipt of cash payments on 15,180 ounces of silver for 2024 and 36,063 ounces of silver in 2025 on our royalty portfolio.

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Horizon Minerals Limited Placement for Project Development

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide an update on funding initiatives for project development which may potentially include retiring or refinancing debt.

HIGHLIGHTS

- Horizon has negotiated and executed a Share Subscription Agreement (SSA) with Golden Crane Holdings Limited, for a two tranche Private Placement to issue a total of 213,888,888 ordinary shares at $A0.045 for A$9,625,000 in cash

- Funds to be used for existing and further project development and potentially for the retiring or refinancing of debt

- Horizon approved the development of Boorara in late July 2024 to mine a series of four open pits containing 1.24Mt of ore at 1.24g/t Au for 49.5koz of gold

- The first ore stockpile of 54,380 tonnes has undergone assaying and metallurgical test work and is being hauled to the Paddington mill for first gold production which is imminent

- Mining at Phillips Find commenced during October 2024 by Joint Venture (JV) with BML Ventures Pty Ltd (BML) and first gold bearing ore is now being mined. Processing of 200kt will commence in February 2025 at FMR Investments Pty Ltd, Greenfields Mill and complete by the end of June 2025.

Placement

The Placement involves the issue of 213,888,888 new fully paid ordinary shares (New Shares) at an issue price of $0.045 per share for total funds to be received of A$6,345,000 (less 2.5% broker fee). The Placement will be completed in two tranches:

- Tranche 1: 141,000,000 New Shares issued Monday to an unrelated party for A$6,345,000 utilising available placement capacity under ASX listing rule 7.1

- Tranche 2: 72,888,888 New Shares issued in the next few months (with timing dependent on Foreign Investment Review Board approval, if required) to an unrelated party for A$3,280,000 utilising available placement capacity under ASX listing rule 7.1A in respect of the issue of 1,967,021 New Shares and the balance of 70,921,867 New Shares will be issued pursuant to listing rule 7.1.

Commenting on the mining progress, Managing Director and CEO Mr Grant Haywood said:

"We are very pleased to have the support of a new private equity investor who has committed to provide $9.625 million to fund the Company's ongoing project developments at Boorara and Phillips Find Project. With the gold price at all-time highs, we look forward to ongoing gold production from Boorara and Phillips Find, and further production optionality in the future from our advanced suite of development ready assets."

About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

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Lode Gold Updates US OTC Market Symbol to LODFF

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) ("Lode Gold " or the "Company") is pleased to announce it has updated its trading symbol in the US on OTCQB.

The company's common shares, which were previously traded under the ticker symbol LODFF on the OTCQB, will now be traded on the OTCQX under the same symbol LODFF, starting from December 10th, 2024. Lode Gold Resource will still be trading on the TSX Venture Exchange in Canada under the symbol LOD.V.

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HoleID	Easting_NAD27	Northing_NAD27	Bearing	Inclination	Depth_ft	Depth_m
OR22-010	739,841	3,532,589	0	-70	3,000	914.4
OR22-011	740,748	3,533,066	315	-70	3,300	1,005.8
OR22-012	740,630	3,534,397	5	-75	3,300	1,005.8
OR22-013	740,750	3,533,064	270	-70	3,688	1,124.1
					TOTAL =	4,050.1

	Sulfides
Item	Pb Concentrate		Zn Concentrate		Cu Conc.
	Skarn	BESS	Skarn	BESS	Skarn
Pb Recovery	84%	90%
Zn Recovery			95%	78%
Cu Recovery					60%
Ag Recovery	77%	79%	8%	12%	7%
Au Recovery
Payable Metals	Pb, Ag	Pb, Ag	Zn, Ag	Zn, Ag	Cu, Ag
Concentrate grade,(primary base metal)	65%	70%	54%	52%	27%
Transport, Treatment, Penalty charges, $ dmt	230	267	358	364	183
Base metal Concentrate Grade Deduction	3 units	3 units	8 units	8 units	1 units
Ag Concentrate Grade Deduction, g/t	50	50	93	93
Ag Refining charge, $/oz	0.6	0.6			0.4
Base metal Refining, $/lb					0.107
Ag payable					90%

Indicated Resources		Contained Metal
Zone	Tonnes	Ag TrOz	Au TrOz	Pb	Zn	Cu Lbs	AgEq TrOz	ZnEq Lbs
	(Kt)	(000's)	(000's)	(Mlbs)	(Mlbs)	(Mlbs)	(000's)	(Mlbs)
Blind Zone	2,347	7,350	3	99	109	5.5	22,291	371
El Sol Zone	1,154	2,956	2	55	51	2.2	10,337	172
Skarn Front Zone	7,254	25,106	14	126	678	30.7	89,421	1,490
La Bocona Zone	1,755	7,331	10	84	65	8.0	18,406	307
Total	12,510	42,742	29	364	903	46	140,455	2,341


Inferred Resources		Contained Metal
Zone	Tonnes	Ag TrOz	Au TrOz	Pb	Zn	Cu Lbs	AgEq TrOz	ZnEq Lbs
	(Kt)	(000's)	(000's)	(Mlbs)	(Mlbs)	(Mlbs)	(000's)	(Mlbs)
Blind Zone	1,347	3,582	6	40	55	2	10,749	179
El Sol Zone	863	1,816	1	35	43	1	7,283	121
Las Victorias Zone	1,083	5,152	23	51	62	3	15,006	250
Skarn Front Zone	11,466	42,462	18	177	687	80	117,065	1,951
South Skarn Zone	3,789	17,007	22	167	112	7	37,660	628
La Bocona Zone	2,481	9,977	14	100	71	7	22,702	378
Total	21,030	79,997	85	571	1,029	101	210,464	3,507

HoleID	From (m)	To (m)	Interval (m)	Cu (%)	Au (g/t)	Mo (%)	Ag (g/t)	Pb (%)	Zn (%)	CuEq (%)	AuEq (g/t)

OR22-012	495.7	496.5	0.8	0.01	12.4	0.00	0.3	0.0	0.0	9.48	12.4

OR22-012	578.6	1005.8	427.2	0.08	0.0	0.01	1.4	0.0	0.0	0.15	0.2
inc.	594.6	597.6	3.0	0.32	0.0	0.00	147.0	0.8	0.1	1.96	2.6
inc.	594.6	594.8	0.2	0.18	0.0	0.00	908.0	10.4	0.6	11.89	15.6
and inc.	834.5	843.7	9.1	0.59	0.3	0.01	2.3	0.0	0.0	0.92	1.2


OR22-013	13.0	32.6	19.7	0.08	0.00	0.00	1.7	0.0	0.1	0.12	0.2

OR22-013	413.6	1124,1	710.5	0.04	0.01	0.00	0.3	NSV	NSV	0.06	0.1
incl.	485.2	500.8	15.6	0.14	0.04	0.01	3.1	0.0	0.0	0.24	0.3
and incl.	745.8	761.1	15.2	0.09	0.05	0.00	1.3	0.0	0.0	0.16	0.2
and incl.	946.7	954.3	7.6	0.15	0.01	0.00	0.5	0.0	0.0	0.20	0.3
and incl.	981.8	993.5	11.7	0.11	0.04	0.00	0.7	0.0	0.0	0.15	0.2

Noteworthy intervals and metal concentrations in bold, NSR = no significant values

Indicated Resources		Average Grade
Zone	Tonnes	Ag	Au	Pb	Zn	Cu	AgEq	ZnEq	NSR
	(Kt)	(g/t)	(g/t)	(%)	(%)	(%)	(g/t)	(%)	(US$/t)
Blind Zone	2,347	97	0.04	1.9	2.1	0.11	295	7.2	108
El Sol Zone	1,154	80	0.04	2.2	2.0	0.09	279	6.8	100
Skarn Front Zone	7,254	108	0.06	0.8	4.2	0.19	383	9.3	140
La Bocona Zone	1,755	130	0.18	2.2	1.7	0.21	326	7.9	136
Total	12,510	106	0.07	1.3	3.3	0.17	349	8.5	130


Inferred Resources		Average Grade
Zone	Tonnes	Ag	Au	Pb	Zn	Cu	AgEq	ZnEq	NSR
	(Kt)	(g/t)	(g/t)	(%)	(%)	(%)	(g/t)	(%)	(US$/t)
Blind Zone	1,347	83	0.14	1.4	1.8	0.06	248	6.0	88
El Sol Zone	863	65	0.03	1.8	2.3	0.05	263	6.4	90
Las Victorias Zone	1,083	148	0.66	2.1	2.6	0.14	431	10.5	145
Skarn Front Zone	11,466	115	0.05	0.7	2.7	0.32	318	7.7	126
South Skarn Zone	3,789	140	0.18	2.0	1.3	0.09	309	7.5	130
La Bocona Zone	2,481	125	0.17	1.8	1.3	0.13	285	6.9	120
Total	21,030	118	0.12	1.2	2.2	0.22	311	7.6	123

Southern Silver Continues to Identify High-grade Silver Within a 400 Metre Strike at the Cerro Las Minitas Project; Oro Cu-Au-Mo Project, Update

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