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NEWS

October 19, 2011

New Drilling Returns 4.5 Metres of 192g/t Ag, 0.3% Cu, 5.3%Pb and 8.4% Zn at Southern Silver’s Cerro Las Minitas Project

Southern Silver Exploration Corp. (TSX.V:SSV) reported today that assay results from core drilling continue to expand both the lateral and down-dip dimensions of the Blind zone, a silver-rich, polymetallic mineralized zone which forms part of Southern’s Cerro Las Minitas project, located in Durango State, Mexico.

The company reported multiple high-grade intercepts of significant thickness in three drill holes which offset previously reported bonanza grade mineralization in drill hole 11CLM-008 which included a 3.3 metre interval averaging 818g/t silver, 12.9% lead and 10.9% zinc.

Highlights from the current drilling include:

  • a 4.5 metre interval averaging 192g/t silver, 0.3% copper, 5.3% lead and 8.4% zinc within an 11.7 metre interval averaging 113g/t silver, 0.2% copper, 3.3% lead and 4.9% zinc from drill hole 11CLM-016, and
  • a 5.3 metre interval averaging 54g/t silver, 0.2% copper, 1.5% lead and 2.8% zinc from drill hole 11CLM-014

The drilling is part of a systematic program of lateral and down-dip offsets of the Blind zone designed to delineate the full dimension of this previously undiscovered gravel covered target which is outboard of both the main intrusive stock and the area of historic mining and exploration. The Blind zone is the first of several buried targets identified on the property through IP geophysics to be drill tested. The current results demonstrate the increasing possibility for developing mineral resources of potentially economic significance on the property.

Drilling on the Blind zone has now tested a 325 metre strike-length and up to a 280 metre depth, with multiple mineralized intercepts in most drill holes and is open in all directions. Initial drilling has identified a series of monzonitic to felsic intrusions in the host limestone stratigraphy with mineralization occurring on the margins of the intrusions. A preliminary interpretation of the drill data suggests good continuity within two main mineralized \horizons (Footwall and Hangingwall) and several secondary mineralized structures which may develop, with further drilling into definable mineralized lenses. Assays from four additional holes completed in the Blind zone are pending.

El Sol Zone

Southern Silver also reported that drill hole 11CLM-015 tested the upper portion of the El Sol target located about 150 metres to the northeast of the Blind zone. The drill intercept is a 115 metre vertical offset from a previously reported deep intercept from drill hole CLM-011 (13.6 metres of 38g/t Ag, 0.1% Cu, 1.6% Pb, and 1.9% Zn). The El Sol zone crops out on surface and has been previously worked by artisan miners. The El Sol zone represents another potentially significant mineralized zone which has received only very limited drill testing.

Exploration Program

Twenty-one drill holes totalling 5466 metres of an anticipated and fully funded 13,000 metre drill program have been completed on the project to date. Ten holes have now been completed on the Blind zone and assays for four of these drill holes are still pending.

Future drilling will target specific occurrences located within the area of historic mining and several targets derived from the recently completed surface IP geophysical program.

An updated drill hole plan is available at www.southernsilverexploration.com.

About the Cerro Las Minitas property

The Cerro Las Minitas property comprises 17 concessions which total 10,980 hectares and an approximate 25 kilometre lineal strike length. The property is located about 70 kilometres to the northeast of the city of Durango, Durango State, Mexico and is accessed easily by road.

Mining has been conducted on the property since colonial times and has identified several types of silver-, lead- and zinc-enriched massive-sulphide pipes, veins and carbonate-replacement deposits (CRDs), as well as mineralized skarns at the margins of a large intrusive body. The Santa Eulalia replacement deposit (45Mt of 310g/t Ag, 7.1% Zn and 8.2% Pb) and the skarn deposit of San Martin (60Mt of 118g/t silver, 0.9% copper and 3.9% zinc) are examples of two major Mexican mines occurring in similar geological environments(1).

The mineralized zones at Cerro Las Minitas have been exploited to depths of 300 metres and over widths of 60 metres.

Figure 1: Drill Hole Distribution and Significant Targets – Cerro Las Minitas

Figure 2: Blind Zone Interpretive Drill Plan, 2046 metre level.

Table 1: Summary of Select Composited Assays from the Cerro Las Minitas Project

Analyzed by FA-ES/AA for gold and ICP-MS by Stewart Labs, Kamloops and ALS Chemex, Vancouver BC; Silver overlimits (>100g/t Ag) re-assayed with FA-Grav. AgEq calculation uses values that approximate the three year railing average of the contained metals: $25 silver, $1150 gold, $2.5 copper and $1 lead and $1 zinc.

About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is a precious/base metal exploration company and a member of the Manex Resource Group; a private company comprised of an exceptional multi-disciplinary team of professionals with specific expertise in all areas of exploration, development, corporate finance and public company administration.

The company's growth strategy is to acquire, explore and develop high-quality properties in progressive jurisdictions within North America. Its current projects include the silver-lead-zinc Cerro Las Mintas project and the copper-gold-silver Minas de Ameca in Mexico, the porphyry copper-molybdenum Dragoon project in Arizona and the gold-silver Oro project in New Mexico.

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Robert Macdonald (P.Geo) is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this release.
(1) Southern Silver advises that tonnage and grade of adjacent properties or those used for comparative purposes may not reflect the ultimate potential of the Cerro Las Minitas project

On behalf of the Board of Directors
“Lawrence Page”
Lawrence Page, President, Southern Silver Exploration Corp.

For further information, please visit the company’s website at southernsilverexploration.com or contact Liana Shahinian at 1.888.456.1112 or by email at liana@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 may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding 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 market prices, exploitation and exploration successes, 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.