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NEWS

January 22, 2007

Southern Silver Consolidates, Copper/Gold/Silver District in Jalisco, Mexico

Southern Silver Exploration Corp. again has increased its interest in a polymetallic-copper-gold-silver district by acquiring a 70% interest in the Quila property in Jalisco , Mexico from Soltoro Ltd. (SOL-TSX.V). Southern Silver's area of interest has grown from 110 sq. km to 337 sq. km and has been expanded to cover a mineralized corridor some 25 kilometers in length which has seen little or no modern exploration. Southern Silver believes that within this mineralized corridor there is the potential for the district to host an economic porphyry copper-gold deposit as well as gold-silver-lead deposits. Jalisco State has the third most reported mineral occurrences in Mexico after Sonora and Chihuahua yet, due to its southerly location, is the least explored, the company noted.

The newly acquired Quila claim is located to the south of the La Sorpresa project in which Southern Silver holds the option to purchase a 100 % interest. A drill program is underway targeting high-grade copper mineralization in quartz-tourmaline breccias associated with disseminated copper-bearing monzonitic intrusives and which are contiguous to the southern border of the Magistral 1 concession.

Figure 1; La Sorpresa/Magistral/Quila Claims

The Magistral 1 concession was optioned from Fury Explorations Ltd. (FUR-TSX.V) whereby Southern Silver may acquire a 65% interest in the 9,400 hectare Magistral I concession. In October of 2006, Southern Silver purchased a 100% interest in the El Magistral concession located within the La Sorpresa/Magistral 1 claim block, which shall form a portion of the Southern Silver/Fury joint venture.

At La Sorpresa, Southern Silver has completed 1,770 metres in 11 RC holes and 2 core holes. The Phase II, 2,500 metre drill program, which is utilizing a dual RC/diamond drill rig, recommenced in the second week of January, 2007 to test additional targets at La Sorpresa and the San Luis vein system located within the Magistral 1 concession.Initial assays from the Phase II drilling program are pending.

Southern Silver President, Lawrence Page reports, " Through this acquisition Southern Silver has completed its consolidation of a 'district-scale' land package containing numerous exploration targets. We now have the ability to target several zones, developed on the Sorpresa/Magistral claims through detailed mapping and geophysical surveys, onto promising geological occurrences on the Quila claim. Preliminary reconnaissance by Soltoro on the Quila claim has identified several areas of historical workings, strong alteration and anomalous copper, gold and silver values within epithermal veins". The Sorpresa/Magistral/Quila district is located along the western margin of the Sierra Madre Occidental terrane. Geological reconnaissance has identified several strongly mineralized, copper-rich breccias located at volcanic-intrusive contacts and numerous structurally controlled, quartz-hematite vein systems which occur along a 25 km long mineralized trend extending southeast through the La Sorpresa, Magistral 1, El Magistral and Quila properties.

High priority targets include the San Luis and Magistral Mine vein systems and the La Soledad copper-gold breccias. Two RC holes are currently being drilled on the San Luis prospect as part of the initial drill program. Follow-up mapping and detailed sampling at the Magistral Mine and the La Soledad prospects has started with the aim of identifying drill ready targets for a phase 3 drill program scheduled for early spring 2007. Other geophysical and geochemical targets will also be reviewed as part of the winter 2007 surface program. A second technical team will begin surface work on the Quila claims within the next several weeks to identify drill ready targets to be included in the phase 3 drill program. Reconnaissance sampling by Soltoro geologists on the Quila claims returned multiple chip and dump samples grading >1g/t Au and >1% Cu. Initial evaluation of the geochemical data reveals distinct populations of Cu-Au-rich and Ag-Pb-Zn-rich mineralization at specific showings, which may reflect a district-scale metal zoning within the 25km long mineralized corridor.

The Sorpresa/Magistral/Quila projects are accessible via a series of gravel roads from the town of Ameca (population 50,000), which is located 80 kilometres southwest of Guadalajara.

Southern Silver holds an option to acquire a 70% interest in the Quila property by issuing a total of 500,000 shares and expending US$3.0 million on exploration. Under the terms of the option agreement, 50,000 shares were issued upon signing, 75,000 shares are due at the end of years one and two, and 100,000 shares in years three through five for a total of 500,000 shares. The US$3.0 million in exploration expenditures is to be spent over five years with $150,000 as a firm commitment in year one. Subsequent to Southern Silver earning its option in the property, Soltoro shall retain a carried 30% interest to delivery by Southern Silver of a bankable feasibility study and shall participate as a 30% working interest partner thereafter. Share issuances are subject to regulatory approval.

About Soltoro Ltd.

Soltoro Ltd. is a junior exploration company, exploring for gold, silver and copper deposits in Mexico . Shares trade on the TSX Venture Exchange under the symbol SOL. Soltoro is well financed with over $2.6M in cash. Soltoro holds title to numerous projects in Jalisco with drill programs underway in 2007. Southern Silver and Soltoro share the view that Jalisco state is under-explored for its potential mineral wealth.

About Southern Silver

Southern Silver is engaged in the acquisition, exploration and development of high-grade precious/base metals properties within North America . The company's high-potential exploration projects include the copper/gold/silver Sorpresa/Magistral/Quila project in Jalisco, Mexico, the copper/silver Tombstone project, Tombstone district, Arizona and the silver/zinc/lead Pinabete project in Chihuahua, Mexico. With a commitment to the joint venture business model and a low market capitalization, Southern Silver represents an excellent opportunity for future corporate growth and an increase in shareholder value.

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Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical results reported in this release.

On behalf of the Board of Directors,

"Lawrence Page"
Lawrence Page QC, President, Director
Southern Silver Exploration Corp.

For further information visit www.southernsilverexploration.com or please contact Jay Oness at 1-888-456-1112 / 604-684-9384 or by email at corpdev@mnxltd.com