Announcement • Jul 02
Southern Silver Exploration Corp. Reports Assays from Underground Channel Sampling At the Puro Corazon Mine Southern Silver Exploration Corp. reports assays from underground channel sampling at the Puro Corazon Mine on the Cerro Las Minitas property which returned multiple intercepts of strongly anomalous polymetallic mineralization. Highlight assays include: 3.0 metres averaging 205g/t Ag, 0.1% Cu, 2.8% Pb and 1.9% Zn (320g/t AgEq), 3.2 metres averaging 357g/t Ag, 0.5% Cu, 3.2% Pb and 0.7% Zn (479g/t AgEq), 2.8 metres averaging 305g/t Ag, 1.2% Cu, 9.8% Pb and 6.7% Zn (757g/t AgEq), 1.0 metres averaging 631g/t Ag, 0.1% Cu, 12.7% Pb and 8.1% Zn (1097g/t AgEq). The channel sampling is part of a larger program of underground mapping, sampling and geotechnical analyses designed to better understand the style and distribution of mineralization at the Puro Corazon target and to develop continuity between the near-surface mineralization within the underground workings and mineralization identified in recent drilling at the Puro Corazon target. Sampling proceeded through fourteen sublevels of the underground workings and a partially completed spiral decline known as the Rampa Guadalupe. Sampling targeted areas of skarn alteration and mineralization adjacent to the Central Intrusion and along mineralized structures out-board of the main contact. A total of 230 channels comprising 1380 individual samples were collected. Sample intervals in each channel range from 0.15m to 2.0m, with most in the 0.5m to 1.0m range and are collected individually for shipment to the lab. Channel samples are spaced every 3.0 meters and orientated perpendicular to the trend of the mineralized zone. Geological criteria were used to select sample lengths and to ensure mineralized skarn is sampled separately from footwall and hangingwall horizons. Other considerations include mineralized texture (massive sulphide vs banded vs disseminated) and that as much as possible, mineralization in other specific rock types (limestone-marble, aplite and monzonite) are sampled separately. The Puro Corazon Mine has been operated intermittently (semi-continuously) on a small scale (~50-80tpd) since the 1980s and currently comprises a partially completed spiral decline (Rampa Guadalupe) and 14 mining levels which extend 220 metres below surface. The mine is accessed by shaft and via the Rampa Guadalupe. This current disclosure details assay results down to Level 4 (of 14 sublevels). Assays from the deeper levels will be reported in a further release. Additional work undertaken by Southern includes an underground Lidar survey of the workings (completed earlier this year), geotechnical surveys of the workings and further hydrological characterization of the area around the Puro Corazon target (in progress). Table 1: Select Assay Results from Underground Channel Sampling at the Puro Corazon Mine Channel Id Level Width m Ag ppm Au ppm Cu % Pb % Zn % AgEq g/t 192 RPA. With the final assay results having now been received, the Company will incorporate all of the results of the recently completed Puro Corazon drilling program into the much larger Cerro Las Minitas project, which is expected to significantly enhance both the project economics and mine plan. Over the coming months, the Company intends to: Continue a Phase I infill drill program of up to 12,500 metres to upgrade resource categories at the Puro Corazon target. Drilling started in mid-June and is anticipated to proceed over the coming 6 months; update 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 work on the Cerro Las Minitas project continues advancing numerous upside opportunities identified subsequent to the July 2024 Preliminary economic Assessment, while also derisking and advancing the project with the commencement of baseline data collection, hydrology, geotechnical, archaeological and land surveys and studies. 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, relatively safe jurisdiction in southeast Durango, Mexico. Announcement • Jun 20
Southern Silver Exploration Corp. Initiates Infill Drilling on the Puro Corazon Target, Cerro Las Minitas Project Southern Silver Exploration Corp. reports that crews have mobilized in preparation for further drilling on the Cerro Las Minitas Project, Durango, Mexico. The upcoming exploration program follows Fiscal year 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 mineralization. Mineralization was extended laterally for the full 400 metres 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 Third Quarter 2026 and the advancement of several engineering opportunities identified in the 2024 preliminary economic assessment 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. The Company is planning to incorporate the results of the Fiscal year 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 Fiscal year 2025-2026 drilling have been received. Work through Third Quarter-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 and 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 preliminary economic assessment, 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, hydrology, geotechnical, archaeological and land surveys and studies. Recent Insider Transactions Derivative • May 25
Independent Director exercised options to buy CA$522k worth of stock. On the 20th of May, Peter Cheesbrough exercised options to buy 900k shares at a strike price of around CA$0.31, costing a total of CA$279k. This transaction amounted to 321% of their direct individual holding at the time of the trade. Since September 2025, Peter's direct individual holding has increased from 280.50k shares to 1.18m. Company insiders have collectively sold CA$286k more than they bought, via options and on-market transactions in the last 12 months. 
