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Tag: Southern Silver Exploration Corp.

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Southern Silver Exploration Corp. (TSXV:SSV) – Drilling Extends North Felsite Down Dip

Southern Silver (SSV) reported results from seven holes at the North Felsite and El Sol targets at its 100%-owned Cerro Las Minitas (CLM) Ag-Cu-Pb-Zn project in Mexico. The North Felsite target is located on the northern side of Cerro, and ~400m to the NW of the La Bocona and Mina Pina shafts. All four holes drilled at North Felsite encountered mineralization with high-grade intervals and extended the known mineralization along a 250m strike and up to 425m in depth. We believe these are strong results from North Felsite, as these holes encountered high-grade mineralization that 1) extends the size of this zone, and 2) demonstrates the continuity of mineralization both within the skarn and the gold-rich hanging wall zone. North Felsite is well outside the current resource, and recent results suggest that this zone has a high likelihood of adding to the already large resource at Cerro Las Minitas (137Moz AgEq indicated + 198Moz AgEq inferred).

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Red Cloud | redcloudfs.com

Red Cloud’s 2022 Very Pre-PDAC Mining Showcase – Day Three Recap

Last Friday, Red Cloud hosted the third and final day of its Very Pre-PDAC Mining Showcase, which featured 39 presenting companies including a keynote speech by Joe Mazumdar, Editor/Analyst and Publisher of Exploration Insights and had over 1,750 participants registered in advance of the event. With this note, we want to provide a quick recap of the highlights from the conference for those who were unable to attend the live event. Replays are available on the Red Cloud website.

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Red Cloud | redcloudfs.com

Southern Silver Exploration Corp. (TSXV:SSV) – North Felsite: Another Emerging Zone at Cerro Las Minitas

Southern Silver (SSV) reported results from six holes at the North Felsite target at its 100%-owned Cerro Las Minitas (CLM) Ag-Cu-Pb-Zn project in Mexico. The North Felsite target is located on the northern side of Cerro, and ~400m to the NW of the La Bocona and Mina Pina shafts. These results indicate that the identification of a new lens of mineralization on the north side of Cerro highlights the continued exploration potential of the property. In our view, these are positive results that delineate more high-grade mineralization in yet another zone at CLM. The North Felsite target has only seen limited previous drilling and is outside the already large resource on the project (137M oz AgEq Indicated + 198M oz AgEq Inferred). Given that every hole encountered mineralization, with multiple intersections in almost every hole, this demonstrates continuity and bodes well for SSV to further add to the resource base.

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Red Cloud | redcloudfs.com

Southern Silver Exploration Corp. (TSXV:SSV) – Updated MRE at CLM; Contained AgEq oz Increases by 23%

Southern Silver provided an updated mineral resource estimate (MRE) for its 100%-owned Cerro Las Minitas (CLM) Ag-Cu-Pb-Zn project in Durango, Mexico. This update should be viewed positively as it includes new areas from the eastern and southern part of the project and is a 33% increase in the overall tonnage of the project (vs. the 2019 MRE) with the average grades remaining approximately consistent. We continue to believe Southern Silver is undervalued and expect the increase in resources to bode well for the economics of the project, which the company is working towards demonstrating with a PEA (expected in Q2/22).

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Red Cloud | redcloudfs.com

Q3 Producer Preview & Commodity Price Update – Lowering Gold Price Forecasts While Most Commodities Increased

Q3 operating and financial results are to be announced over the next few weeks. While gold is out of favour, prices have been trading within a narrow window that have allowed companies to continue to turn profits, despite an uncertain outlook. Late summer was hard on most commodities as precious and industrial metals alike fell on a slowdown in global economic growth due to surging fuel prices, Chinese power restrictions, labour shortages, disrupted global supply chains and a stronger USD. Metal prices came under further pressure as major property developer Evergrande missed further bond payments, impacting iron ore and copper prices. With this update, we provide new commodity price and FX forecasts, updated coverage estimates, and a fresh set of top picks.

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