Mr. Lawrence Page reports

SOUTHERN SILVER INITIATES INFILL DRILLING ON THE PURO CORAZON TARGET, CERRO LAS MINITAS PROJECT, DURANGO MEXICO

Southern Silver Exploration Corp. crews have mobilized in preparation for further drilling on the Cerro Las Minitas (CLM) project, Durango, Mexico.

The upcoming exploration program follows 2025-2026 drilling on the property, which successfully delineated mineralization at the Puro Corazon target and returned multiple intercepts of high-grade, polymetallic Ag-Pb-Zn (silver-lead-zinc) mineralization. Mineralization was extended laterally for the full 400-metre strike length of the Puro Corazon claim and to depths of up to 450 metres below surface.

The current program will build upon this earlier work and includes up to 12,500 metres of definition drilling designed to increase the classification confidence of a subset of near-surface, high-grade mineralization in the Puro Corazon target, and forms part a larger program to assess, geologically and spatially, the historic Puro Corazon claim and to incorporate the underlying mineralization into the larger CLM district.

Other work on the CLM project includes an update of the mineral resource estimate based on the most recent drilling at Puro Corazon, scheduled for Q3 (third quarter) 2026, and the advancement of several engineering opportunities identified in the 2024 preliminary economic assessment (PEA) of the project.

As currently modelled, the Cerro Las Minitas project features a large-scale underground mining operation with robust project economics and high gross revenues in a well-located and mining-friendly jurisdiction in southeast Durango, Mexico. For more information on the details of the current economic assessment of the Cerro Las Minitas project, please refer to Southern Silver's news release dated June 10, 2024.

Next steps

The company is planning to incorporate the results of the 2025-2026 Puro Corazon drill program into the much larger Cerro Las Minitas project, which is expected to significantly enhance both the project economics and the mine plan. Final assays from the 2025-2026 drilling have been received. Work through Q3 to Q4 (fourth quarter) 2026 will include:

• An update of the mineral resource estimate of the Cerro Las Minitas project;
• Followed by an update of the preliminary economic assessment of the project in accordance with the provisions of National Instrument 43-101;
• Continue to advance baseline data collection and permit readiness review.

The company reports that, subsequent to acquisition of the Puro Corazon claim and to the July, 2024, PEA, work on the Cerro Las Minitas project continues advancing numerous upside economic and mine development opportunities, while also derisking and advancing the project with the commencement of baseline data collection, and hydrology, geotechnical, archaeological and land surveys and studies.

About Southern Silver Exploration Corp.

Southern Silver Exploration is an exploration and development company with a focus on the discovery of world-class mineral deposits either directly or through joint venture relationships in mineral properties in major jurisdictions. The company's specific emphasis is the 100-per-cent-owned Cerro Las Minitas silver-lead-zinc project, located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. The company has assembled a team of highly experienced technical, operational and transactional professionals to support its exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Located in the same state as the Cerro Las Minitas property is the newly acquired Nazas gold-silver property. The company's property portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein project, where permitting applications for the conduct of a drill program is under way, both located in southern New Mexico, U.S.

Robert Macdonald, MSc, PGeo, is an officer of Southern Silver Exploration and is a qualified person as defined by National Instrument 43-101. Mr. Macdonald supervised directly the collection of the data from the CLM project that are reported in this disclosure. He is responsible for and approves the presentation of the technical information in this news release.

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