Southern Silver Issues Bonus Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct 17, 2012) - Southern Silver Exploration Corp. (TSX VENTURE:SSV)(SEG.F) (the "Company") reports that it has issued 96,000 bonus shares at a deemed price of $0.05 per share pursuant to two previously announced loan agreements which provide for loans of $48,000 to the Company (see news release NR-14-12). Atherton Enterprises Ltd., a company controlled by director Scott Hean, will receive 66,000 bonus shares and Sveinson Mineral Services Inc., a company that is partly owned by consultant Frederick Sveinson, will receive 30,000 bonus shares. The bonus shares carry a legend restricting trading of the securities until February 18, 2013. The loan agreements and the issuance of the bonus shares received TSX Venture Exchange acceptance today.

On behalf of the Board of Directors

Lawrence Page, President, Southern Silver Exploration Corp.

For further information, please visit the Company''s website at southernsilverexploration.com.