SSV Southern Silver Exploration Corp

Southern Silver Exploration Corp. ("Southern Silver") (TSX
VENTURE:SSV)(FRANKFURT:SEG) has closed the second tranche of its non-brokered
private placement and, together with the first tranche closing on January 31,
2013 (see news release NR-04-13), Southern Silver has raised an aggregate
$783,100 by the issuance of 15,662,000 units. The financing was oversubscribed
by 662,000 units.


In this second tranche closing, Southern Silver issued 7,660,000 units at a
price of $0.05 per unit for gross proceeds of $383,000. Each unit consists of
one common share and one share purchase warrant exercisable to purchase one
additional common share for a period of three years at an exercise price of
$0.10 per share. All securities issued pursuant to this second tranche,
including common shares, share purchase warrants and finder's warrants issued as
finder's fees, carry a legend restricting trading of the securities until June
29, 2013. The private placement and finder's fees relative thereto are subject
to regulatory approval. Net proceeds from the Offering will be utilized for
exploration and property maintenance expenses incurred at the Dragoon project in
Arizona and will be added to general working capital.


About Southern Silver Exploration Corp.

Southern Silver Exploration Corp. is a precious and base metal exploration and
development 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 either directly
or through joint venture relationships high-quality mineral properties in
progressive jurisdictions within North America. 


Southern Silver's silver-lead-zinc Cerro Las Minitas project located in Durango,
Mexico is currently under option to Freeport-McMoRan Exploration Corporation
which can earn a 70% interest in the project by making staged purchase payments
and funding exploration and development expenditures of $25 million on the
project over a ten year period. Desert Star Resources Ltd. has the option to
earn up to a 70% interest in the gold-silver-copper Oro project in New Mexico by
making cash payments to underlying optionors, issuing one million shares,
completing a preliminary economic assessment and incurring exploration
expenditures of $6 million on the property over a period of 66 months. Southern
Silver is currently advancing the porphyry copper-molybdenum Dragoon project in
Arizona.


On behalf of the Board of Directors

Lawrence Page, Q.C., President & Director, Southern Silver Exploration Corp.

FOR FURTHER INFORMATION PLEASE CONTACT: 
Southern Silver Exploration Corp.
Liana Shahinian
1.888.456.1112
liana@mnxltd.com
www.southernsilverexploration.com

Southern Silver Explorat... (TSXV:SSV)
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