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NEWS

February 13, 2009

Southern Silver Corporate Update

Southern Silver Exploration Corp. reported today that at the company's annual general meeting held on January 7, 2009, the following directors were elected: Lawrence Page, Robert Swenarchuk, Nazlin Rahemtulla, D. Roger Scammell, Donald Head and Scott Hean. 

In addition, the shareholders approved the company's 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 is subject to approval of the TSX Venture Exchange.

Southern also reported that the shareholders have approved the company's Shareholder Right Plan at its annual general meeting. The Shareholder Rights Plan was adopted to ensure the fair treatment of all Southern shareholders in the event of an unsolicited take-over bid for the outstanding common shares of Southern. In the event that a take-over bid should occur, the Shareholder Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess it without facing undue pressure or coercion. The Shareholder Rights Plan also provides the board of directors with additional time to consider any take-over bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. Accordingly, the Shareholder Rights Plan is not designed to prevent take-over bids that treat Southern's shareholders fairly. 

The Shareholder Rights Plan is subject to acceptance by the TSX Venture Exchange. 

A copy of the Shareholder Rights Plan Agreement will be available under the company's profile at www.sedar.com, the website maintained by the Canadian securities regulatory authorities.  Reference should be made to the full text of the plan for the details of its provisions.
On behalf of the Board of Directors

"Lawrence Page"
Lawrence Page, President
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.

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.