Southern Silver Revises Terms for Previously Announced Non-Brokered Private Placement
Southern Silver Revises Terms for Previously
Announced Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2025) -
Southern Silver Exploration
Corp. (TSXV: SSV) (the "Company" or "Southern Silver")
reports that it has revised the terms of its
previously announced non-brokered private placement. The private placement will now consist of
14,000,000 units at $0.18 for gross proceeds of $2,520,000 (the "Offering").
Each Unit will be
comprised of one common share and one-half of one share purchase warrant. Each whole warrant
entitles the holder thereof to purchase one common share for a period of 3 years at a price of $0.28.
The Company may pay finders' fees comprised of cash and non-transferable warrants in connection with
the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued
and sold under the Offering will be subject to a hold period expiring four months and one day from
closing. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of
all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
Net proceeds from the Offering will be used for the continued advancement of the Cerro Las Minitas
("CLM") project in Durango, Mexico, and for general corporate and working capital purposes.
Following the July 2024 preliminary economic assessment ("PEA") update (refer to Addendum #1), the
Company is continuing to advance the CLM project, with (i) a current
drill program targeting the eastern
and northern deposits to confirm blue sky potential, targeting further lateral extensions of shallow, high-
grade mineralization, (ii) studying and advancing numerous upside opportunities to the July 2024 PEA,
and (iii) derisking the project and commencing with the collection of baseline data and similar surveys
and studies.
As currently modelled, the CLM project features a large-scale underground mining operation with robust
project economics and high gross revenues, in a well located and mining friendly jurisdiction in southeast
Durango, Mexico.
For more information on the details of the current economic assessment of the CLM Project please refer
to the following link or the Company's Technical Report filing on SEDAR+;
https://southernsilverexploration.com/news/2024/southern-silver-announces-updated-pea-on-cerro-las-
minitas-us-501m-after-tax-npv5-21-irr-48-month-payback/
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the units, nor
was there any sale of the units in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The
units offered will not be, and have not been, registered under the United States Securities Act of 1933,
as amended, and may not be offered or sold within the United States or to, or for the account or benefit
of, a U.S. person.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the
discovery of world-class mineral deposits either directly or through joint-venture relationships in mineral
properties in major jurisdictions. Our specific emphasis is the 100% owned Cerro Las Minitas silver-
lead-zinc project located in the heart of Mexico's Faja de Plata, which hosts multiple world-class mineral
deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team
of highly experienced technical, operational and transactional professionals to support our exploration
efforts in developing 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 and the Hermanas gold-silver vein
project where permitting applications for the conduct of a drill program is underway, both located in
southern New Mexico, USA.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and
supervised directly the collection of the data from the CLM Project that is reported in this disclosure and
is responsible for the presentation of the technical information in this disclosure.
On behalf of the Board of Directors
"Lawrence Page"
Lawrence Page, K.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver's website at
southernsilverexploration.com
or contact
us at 604.641.2759 or by email at
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. 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. Forward-looking
statements in this news release include the amount of the Offering, closing of the Offering and the Company's plans to advance the CLM project.
These statements are based on a number of assumptions, including, but not limited to, general economic conditions, interest rates, commodity
markets, regulatory and governmental approvals for the Company's projects, and the availability of financing for the Company's development
projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include the
timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or
business conditions.
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