SSV Southern Silver Exploration Corp

Southern Silver Exploration Corp. ("Southern Silver") (TSX
VENTURE:SSV)(FRANKFURT:SEG) reported today that Freeport-McMoRan Exploration
Corporation ("FMEC") has reported on results of first year operations, made an
option payment of $100,000 and delivered plans for the first phase of second
year operations on the Cerro las Minitas project in Durango State, Mexico.


Prior to FMEC's involvement with the project, Southern Silver had explored the
property through airborne and detailed ground geophysical surveys together with
15,704 metres of diamond drilling in 62 holes which outlined high-grade,
silver-lead-zinc mineralization over a cumulative 820 metre strike-length at the
Blind zone. New discoveries were made at the El Sol zone, in parallel structures
to the Blind zone mineralization, at the South Skarn target and in extensions to
the historic deposits at Mina Santo Nino and Mina La Bocona.


Since entering into the option, FMEC has funded a first year exploration program
consisting of 3445 metres of drilling in 8 holes subsequent to completion of
detailed ground geophysical surveys.


Highlights from the most recent drilling funded by FMEC include:



--  a 9.2 metre interval averaging 401g/t silver, 8.5% lead and 5.1% zinc
    (777g/t AgEq) from a shallow intercept on the Blind zone; 
--  a 55.2 metre interval averaging 41g/t silver, 0.7% lead and 5.3% zinc
    (202g/t AgEq) intersected at over 500 metres below surface in the El Sol
    zone; and 
--  a 13.9 metre interval averaging 135g/t silver, 2.4% lead and 1.3% zinc
    (250g/t AgEq) including a 2.4 metre interval 545g/t silver, 10.3% lead
    and 3.8% zinc (942 g/t AgEq) from the South Skarn target.



Exploration plans for the commencement of the second year of operations are for
approximately 4,000 metres of core drilling to commence in November 2013. An
initial seven sites have been selected for testing as a follow-up on earlier
drilling funded and conducted by FMEC, which was successful in confirming both
the distribution of high-grade mineralization in the Blind zone and identifying
significant extensions of mineralization at each of the El Sol and South Skarn
targets. 


The proposed drilling will continue to test the lateral extensions of the El Sol
and Blind zone mineralization and includes one hole on the recently acquired EL
Sol concession (see NR-15-13, September 23, 2013) which could extend the
on-strike potential of the previously identified zones of mineralization by
upwards of 800 metres. An initial drill hole is planned to test the depth
extension of mineralization at Mina Santo Nino, one of several historic small
mining operations on the project, and two deep holes of up to 1,000 metres each
are planned to test skarn targets on the flanks of the central intrusion. A
third deep hole is planned as a test of IP and gravity geophysical anomalies
outboard and to the northeast of the central intrusion.


FMEC contract synopsis

In year one of the option agreement, FMEC has funded total expenditures and
payments of $2,687,103.05 as follows:




--  paid Southern Silver $700,000 in option payments; 
--  funded $1,218,000 to the underlying Optionor of the property as option
    payments; and 
--  funded exploration costs of $769,103.05 on the project. 



(Note: all references to money and $ refer to United States currency)

FMEC has been providing funding for, and directing, Southern Silver's
subsidiary, Minera Plata del Sur, S.A. de C.V. ("MPS"), to explore the property
since October 2012 and holds an option to earn a 70% indirect 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.
Included in the gross interest is an initial 51% interest to be earned in the
first three years of the agreement by expenditure of $5,000,000.FMEC has now met
and exceeded the first year earn-in requirements of the option.


FMEC recently acquired from a third party an interest in the contiguous El Sol
Concession, for cumulative payments of $2 million payable over a three year
period, and, to the extent paid by FMEC, these payments will be counted as a
credit towards its earn-in expenditures of the Cerro Las Minitas project.


Figure: Proposed FMEC target areas for 2013-14 Cerro las Minitas drilling (to
view please click the following link:
http://media3.marketwire.com/docs/SSVMap114.pdf)


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 including Southern Silver's
silver-lead-zinc Cerro Las Minitas project located in Durango, Mexico.
Freeport-McMoRan Exploration Corporation currently holds an option to earn a 70%
indirect 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.


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. 


On behalf of the Board of Directors

Lawrence Page, Q.C.

President & Director, Southern Silver Exploration Corp.

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.


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

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