Southern Silver Exploration Corp. (SSVFF)

[ThSeeker]

Vancouver, British Columbia--(Newsfile Corp. - September 15, 2017) - Southern Silver Exploration Corp. (TSXV: SSV) (OTCQB: SSVFF) (FSE: SEG1) ("Southern") reported today that the Company has received approval from the TSX Venture Exchange to extend the final closing date of its previously announced brokered private placement (the "Offering") until September 29th, 2017. The private placement is comprised of a brokered and non-brokered component. Gravitas Securities Inc. is acting as lead agent of the brokered portion of the private placement.

As announced on August 31st, 2017, the Company has closed a second tranche of the Offering by issuing 1,170,000 units ("Units") for a total of $468,000. In total, the Company has now closed two tranches for total gross proceeds of $3,017,000.

The Offering, which was initially announced on May 18th, 2017, consists of up to 12,500,000 Units at a price of $0.40 per Unit for a total of $5,000,000, with an over-allotment option to increase the Offering by up to 15%. Each Unit consists of one share of common stock of the Company and one common share purchase warrant (each a "Warrant"), with each Warrant exercisable to acquire an additional share of common stock of the Company at a price of $0.55 per share for a period of three years.