Southern Silver Exploration Corp.

Southern Silver Exploration Corp.

February 26, 2007 11:41 ET

Southern Silver Receives Exchange Approval; Closes $6.5 Million Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 26, 2007) - Southern Silver Exploration Corp. (TSX VENTURE:SSV)(FRANKFURT:SEG) reported today that the company has received TSX Venture Exchange approval and has now closed the previously reported $6.5 Million non-brokered private placement (February 14th, 2007) of 13,000,000 common shares at a price of $0.50 per unit. The units 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 and for a period of two years.

All the common shares issued pursuant to this unit offering, including share purchase warrants and including shares issued as finders fees, carry a legend restricting the shares from trading for a period of four months to June 23rd, 2007.

On behalf of the Board of Directors

Lawrence Page, President, 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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