Southern Silver Exploration Corp.

Southern Silver Exploration Corp.

October 31, 2005 19:22 ET

Southern Silver Closes $1.0 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2005) - Southern Silver Exploration Corp. (TSX VENTURE:SSV)(FWB:SEG) reported today that the company has now closed the previously reported $1.0 million non-brokered private placement (September 21st, 2005) of 4.0 million common shares at a price of $0.25. All the common shares issued pursuant to this unit offering, including share purchase warrants and units issued as finders fees, carry a legend restricting the shares from trading for a period of four months to February 28th, 2006.

On behalf of the Board of Directors

Lawrence Page, President

Southern Silver Exploration Corp.

We seek safe harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

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