Southern Silver Exploration Corp. (“Southern Silver”) announces that due to increased interest the previously announced $2,000,000 private placement has been increased to $3,000,000. The Company now plans to issue up to 15,000,000 units (“Units”) in the non-brokered private placement at a price of $0.20 per Unit for gross proceeds of $3,000,000. Each Unit will consist of one common share and one share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of five years at an exercise price of $0.25 per share.