Southern Silver Exploration Corporation: Provides Corporate Update
15.03.2013 | Marketwire
VANCOUVER, 03/14/13 - Southern Silver Exploration Corp. (TSX VENTURE: SSV) (FRANKFURT: SEG) ("Southern Silver") reported that at its annual general meeting held on March 13, 2013 the following directors were re-elected: Lawrence Page, Q.C., Scott Hean, Terrence Eyton, D. Roger Scammell, Dale Janowsky and Nazlin Rahemtulla. The following officers were re-appointed subsequent to the annual general meeting: Lawrence Page, Q.C. as President, Mahesh Liyanage as Chief Financial Officer, and Arie Page as Corporate Secretary.In addition, the shareholders re-appointed Smythe Ratcliffe, Chartered Accountants, as auditor of Southern Silver and approved Southern Silver's rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. Southern Silver has granted incentive stock options to directors, officers, consultants and employees to purchase 7,824,000 common shares at $0.10 per share, exercisable for a period of five years in accordance with Southern Silver's stock option plan. The plan and the grant of options thereunder are subject to TSX Venture Exchange acceptance.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is a precious and base metal exploration and development company and a member of the Manex Resource Group; a private company comprised of an exceptional multi-disciplinary team of professionals with specific expertise in all areas of exploration, development, corporate finance and public company administration.
The company's growth strategy is to acquire, explore and develop either directly or through joint venture relationships high-quality mineral properties in progressive jurisdictions within North America.
Southern Silver's silver-lead-zinc Cerro Las Minitas project located in Durango, Mexico is currently under option to Freeport-McMoRan Exploration Corporation which can earn a 70% interest in the project by making staged purchase payments and funding exploration and development expenditures of $25 million on the project over a ten year period. Desert Star Resources Ltd. has the option to earn up to a 70% interest in the gold-silver-copper Oro project in New Mexico by making cash payments to underlying optionors, issuing one million shares, completing a preliminary economic assessment and incurring exploration expenditures of $6 million on the property over a period of 66 months. Southern Silver is currently advancing the porphyry copper-molybdenum Dragoon project in Arizona.
On behalf of the Board of Directors
Lawrence Page, Q.C., President & Director
Southern Silver Exploration Corp.
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.
Contacts:
Southern Silver Exploration Corp.
Liana Shahinian
1.888.456.1112
liana@mnxltd.com
www.southernsilverexploration.com