Southern Silver Exploration Corp. (“Southern Silver” or the “Company”; SSV-TSX.V) has closed the first tranche of its previously reported non-brokered private placement by issuing 15,502,500 units at a price of $0.20 per unit for gross proceeds of $3,100,500. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of five years at an exercise price of $0.25 per share. 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 14, 2019.