Southern Silver Exploration Corp.

Southern Silver Exploration Corp.

March 18, 2005 12:20 ET

Southern Silver Exploration Corp.: Financing Over Subscribed, Issue Increased


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SOUTHERN SILVER EXPLORATION CORP.

TSX VENTURE SYMBOL: SSV

MARCH 18, 2005 - 12:20 ET

Southern Silver Exploration Corp.: Financing Over
Subscribed, Issue Increased

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 18, 2005) - Southern
Silver Exploration Corp. (TSX VENTURE:SSV) reported today that the
recently announced non-brokered private placement of 4.0 million units
at $0.50 per unit has been over subscribed and the company now plans to
issue 4.5 million units at $0.50 per unit to realize $2.25 million.

The units will comprise of one common share and one-half of one common
share purchase warrant. Each full warrant can be exercised for one
common share at a price of $0.60 per share for a period of two years. In
the event the company's common shares trade at a closing price of
greater than $1.00 per share for a period of 20 consecutive days at any
time after six months from closing, Southern Silver may accelerate the
expiry date by providing notice, in which case the warrants will expire
30 days after such notice.

The proceeds of the offering will be used to fund exploration of the
company's "Pinabete" CRD (Carbonate Replacement Deposit) project in
Chihuahua State, Mexico. Southern Silver recently announced the
acquisition of the project from Anglo American (Canada) Ltd.

The new financing arrangements are subject to regulatory approval,
including payment of finder's fees.

On behalf of the Board of Directors

Robert E. Swenarchuk, Director

Southern Silver Exploration Corp.

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. Southern Silver Exploration
Corp. relies upon litigation protection for forward looking statements.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Southern Silver Exploration Corp.
    Jay Oness
    1-888-456-1112 or (604) 684-9384
    (604) 688-4670 (FAX)
    corpdev@mnxltd.com