Southern Silver Exploration
Company Profile (100 Words)

Southern Silver Exploration Corp. is an exploration and development company with a focus on the identification of world-class mineral deposits in major jurisdictions, advancing them either directly or through joint-venture relationships. Our specific emphasis is on advancing the 100% owned Cerro Las Minitas project, one of the world’s largest undeveloped silver-lead-zinc deposits, to a production decision.
Southern has assembled a team of highly experienced technical, operational and transactional professionals to support our efforts in developing (recent robust PEA) the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Our property portfolio also includes the Oro porphyry copper-gold project where a diamond drill program is underway and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway; both are located in southern New Mexico, USA.

Brief overview of your project (150 Words Max)

Cerro Las Minitas Project
Southern Silver continues to advance the Cerro Las Minitas project as one of the world’s largest undeveloped silver/lead/zinc resources, through advanced exploration, pre-production metallurgical and engineering work, and economic assessment. The CLM Ag-Pb-Zn-Cu Skarn system is well located in southern Durango, Mexico, in a safe jurisdiction, surrounded by producing mining companies, with easy access and strong community support.
A total of 226 drill holes for 96,411 metres has been completed on the CLM Project with exploration expenditures of over US$35.0 million equating to exploration discovery costs of approximately C$0.09 per AgEq ounce.

What is unique about your project (150 - Words Max)

Advancing our flagship Cerro Las Minitas (CLM) Ag-Pb-Zn Project In Durango, Mexico;
One of the largest and highest grade, undeveloped, silver projects in the world!
• Ind: 137Moz AgEq at 347g/t AgEq1
• Inf: 198M oz AgEq at 314g/t AgEq1
• Well-established silver mining district in Durango, Mexico near several major mining companies Corporate Highlights • 100% ownership and control of the CLM Project
• Full treasury to continue ESG initiatives, permitting, drilling, engineering and other corporate objectives

August 2022 preliminary economic assessment results (PEA)
• Base Case After tax NPV5% of US$397 Million and IRR of 17.9%(1)
• Excellent Silver and Base Metal Price Leverage – Base Case +15% After Tax NPV of US$561M with IRR of 24.4%
• A Large-scale Underground Mining Operation with a 15-Year Mine Life with an Average Annual Plant Feed of 14.2Moz AgEq (inc. 5.8Moz Ag) at an AISC(2) of $13.27/oz AgEq sold
• High Revenue Project – Base Case Gross Revenues total US$3.7B with Silver Representing 42% of revenues and Zinc Representing 39% of Revenues

What highlights or announcements are you planning in the next 12 months? (150 - Words Max): Company Catalysts (pending News Flow) • PEA: Now Completed • New Discoveries at CLM, Mx • Engineering Upgrades • New Drilling at Oro, NM • Greenfields exploration on Hermanas Project, NM