PROJECTS / Minas de Ameca Project, Jalisco State

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The Minas de Ameca project is located in Jalisco, Mexico, along the western margin of the Sierra Madre Occidental Terrane. The project encompasses a district scale 131 square kilometres and is located approximately 80 kilometres W-SW from Guadalajara City.

The property 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 an 8 km long mineralized trend extending southeast through the project area. Pursuant to an agreement dated July 4, 2006 Southern Silver acquired a 65% interest in the 94 sq. km Magistral I copper prospect from Fury Exploration Ltd. now Golden Predator Mines Inc. A second property, the El Magistral Mineral Concession consists of 13.6 sq. km and was acquired through an auction conducted by the Mexican Federal Government. The mineral concession is subject to a 1% NSR payable to the Mexican government and falls within the Magistral Joint Venture with Golden Predator Mines Inc.

Cu-Au-Ag mineralization is localized in structures, contact breccias and breccia pipes along the margins of major intrusions; mineralization is spatially associated with intermediate to felsic sills/dykes, and typically has a strong association with Fe-oxides (hematite, magnetite, specularite)

Geology

Since acquisition, the Company has initiated a systematic program of target generation and evaluation, which utilizes newly available reprocessed airborne geophysical and satellite data, ground geophysics and systematic mapping and sampling of the newly defined target areas. The initial target generated from this work is the San Luis – Cerro de la Cruz vein systems, which was tested in 2007 and 2008. The San Luis vein, which strikes east-west and dips 80o to 85o to the north, crops out discontinuously over a 800 metre strike-length. The vein that is located along the contact zone of an intrusive with andesitic volcanics, varies in thickness from 3 to over 20 metres and consists of quartz and iron oxides.

Mineralized intervals with greater than 1 g/t Au and 1% Cu range in thickness from 1 metre to +10 metres and comprise single and sheeted quartz veins within envelopes of strong argillic alteration with iron and copper sulphides. Previously released results include a 1.87 metre interval averaging 5.07 g/t Au, 49.81 g/t Ag and 4.32% Cu from drill hole 07SL-03, a 7.25 metre interval averaging 2.05 g/t Au, 12.99 g/t Ag and 0.34% Cu from drill hole 07SL-04 and 2.24 metres grading 3.77 g/t Au, 19.7 g/t Ag and 1.54% Cu from drill hole 08SL-18.

A total of 4,832 metres of drilling was completed in 20 drill holes over two phases of drilling on the San Luis vein system and adjacent targets. Seventeen drill holes had tested an 800 metre strike length of the main San Luis vein structure and to depths of up to 500 metres. Additional drill holes tested the Cerrito de la Cruz vein system and two adjacent geophysical anomalies.

Most recently, 25 line-kilometers of detailed gradient IP geophysics has been completed over portions of the San Luis vein system. The survey showed some correlation between chargeability anomalies and Cu- and Au-enriched drill hole intercepts. Several untested chargeability highs occur to the north of previously tested veins and may represent additional veins within the mineralizing system.

Final target for a 10-hole 1,500 metre diamond drilling program on the San Luis prospect have been selected and will test the internal continuity and the on-strike and down-dip potential of the San Luis vein system.