SSV Southern Silver Exploration Corp

Southern Silver Exploration Corp. ("Southern Silver") (TSX
VENTURE:SSV)(FRANKFURT:SEG) announces that it has closed the final tranche of
its previously reported non-brokered private placement by issuing 43,534 units
at a price of $0.17 per unit for gross proceeds of $7,400.78. Each unit consists
of one common share and one share purchase warrant exercisable to purchase one
additional common share for a period of two years at an exercise price of $0.22
per share. Together with the first tranche closing on July 20, 2011 and the
second tranche closing on August 16, 2011, Southern Silver has raised an
aggregate $3,274,785. 


Net proceeds from the private placement will be utilized for exploration and
property maintenance expenses incurred on the Cerro Las Minitas and Minas de
Ameca projects in Mexico and the Oro project in the USA. Securities issued
pursuant to this tranche of the private placement, including common shares,
share purchase warrants and finder's warrants issued as finder's fees, carry a
legend restricting trading of the securities until December 30, 2011. The
private placement and finder's fees are subject to regulatory approval. 


On behalf of the Board of Directors 

Lawrence Page, Q.C., 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. These statements are based on a number of assumptions, including,
but not limited to, assumptions regarding general economic conditions, interest
rates, commodity markets, regulatory and governmental approvals for Southern
Silver's projects, and the availability of financing for Southern Silver's
development projects on reasonable terms. Factors that could cause actual
results to differ materially from those in forward looking statements include
market prices, exploitation and exploration successes, the timing and receipt of
government and regulatory approvals, and continued availability of capital and
financing and general economic, market or business conditions. Southern Silver
Exploration Corp. does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information, future
events or otherwise, except to the extent required by applicable law.

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