Southern Silver Exploration Corp.

Southern Silver Exploration Corp.

March 12, 2007 09:00 ET

Southern Silver Reports Assays; Continues to Advance Targets at Minas de Ameca

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 12, 2007) - Southern Silver Exploration Corp. (TSX VENTURE:SSV)(FRANKFURT:SEG) reported today that two reconnaissance RC/diamond drill holes at its recently acquired San Luis Au-Cu vein target at the Minas de Ameca multi-prospect project in Jalisco, Mexico encountered encouraging gold, silver and copper values.

Drilling results include an 8.0 metre interval of 1.05g/t Au and 0.49% Cu within a 30 metre interval grading 0.39g/t Au and 0.17% Cu. The second hole reported a 6.85 metre interval of 1.05g/t Au, 15.7g/t Ag and 0.55% Cu within a longer, 14.5 metre interval, that carried 0.62g/t Au, 8.78g/t Ag and 0.31% Cu.

Table 1: San Luis Target - Assay Results

Drill Hole Az Dip From To Interval Au Ag Cu
No. deg deg m m m g/t g/t %
06SL-01 360 -50 108.00 138.00 30.00 0.39 1.89 0.17
inc 126.00 134.00 8.00 1.05 4.60 0.49
06SL-02 360 -45 194.45 208.80 14.35 0.62 8.78 0.31
inc 196.90 203.75 6.85 1.05 15.70 0.55

The Company said results are encouraging as surface mineralization and alteration at the San Luis target can be traced on surface for over 600 metres strike with an alteration halo of up to 150 metres wide.

Mineralization remains open both along strike and down dip of the drill holes.

The San Luis zone is one of several east-west striking, en-echelon vein systems which sit within or along the margins of a greater than 1.5 km diameter aero-magnetic low and may be sourced from a buried porphyry system which feeds the higher-level veins.

Geochemical vectors from the drilling suggests stronger and thicker mineralization eastward where mineralized float and alteration can be traced on surface for an additional 300 metres before plunging under Tertiary cover. The mineralization is in part hosted by siliceous intrusives and altered monzonite which underlies the center of the geophysical anomaly.

Vein textures and property scale mapping suggest that the San Luis veins occur in the upper parts of a large, zoned mineralizing system that includes both high-grade vein targets and disseminated porphyry-styled targets, and is consistent with the early drilling results.

Target definition through detailed mapping and sampling of the veins and reconnaissance soil sampling in the area of the magnetic anomaly is in progress.

La Sorpresa Target

The company also reported assay results from the Phase II, 1,770 metres drill program on the La Sorpresa target. Part of the Phase II program included re-drilling, using RC methods, of several core holes from the Phase I program which were subject to poor core recovery during the initial drill phase. Results from these holes returned comparable values to those returned from the Phase I drilling. Additional drilling on the northern projection of the main mineralized zone returned anomalous copper values including 18 metres grading 0.35% Cu and 10 metres grading 0.41% Cu.

Magistral/La Soledad/Quila

Other high priority targets within the newly assembled district include the El Magistral Mine vein systems and the La Soledad copper-gold breccias. Follow-up mapping and detailed sampling at the El Magistral Mine and the La Soledad prospects has started with the aim of identifying drill ready targets for additional drilling scheduled for spring 2007. Other geophysical and geochemical targets on the Magistral 1 and Quila concessions are currently being mapped and sampled as part of the winter 2007 surface program.

Minas de Ameca Project

The Minas de Ameca project encompasses a 322 sq. km claim package assembled in part through option agreements between Southern Silver and Fury Explorations Ltd. (see NR-10-06) and Soltoro Ltd. (see NR-01-07) together with the purchase from the Mexican Government of the El Magistral claim which includes a historic producing mine from which copper was extracted, with some gold credits, from chalcopyrite, bornite and oxide ores.

The district is located along the western margin of the Sierra Madre Occidental terrane. Geological reconnaissance has identified several strongly mineralized, copper-rich breccias located at volcanic-intrusive contacts and numerous structurally controlled, quartz-hematite vein systems which occur along a 25 km long mineralized trend extending southeast through the project area. Historical workings consist of copper with gold rich deposits formed as tabular to pipe-like bodies within tourmaline rich intrusives.

Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the technical results reported in this release.

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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