Articles Tagged "Southern Silver Exploration Corp."

Southern Silver Pays Credit Facility, Appoints Larry Buchanan and Peter Cheesbrough as Directors

Silver – Southern Silver Exploration Corp. (TSXV:SSV) issued six million shares to Radius Gold Inc. to pay for a debt of $300,000 owed by Southern Silver to Radius pursuant to a loan agreement dated November 13, 2014 in the amount of $800,000. Southern Silver has already paid the balance of $500,000, plus accrued interest in cash and has accordingly satisfied the loan agreement in advance of its due date. Southern Silver also announced the appointments of Larry Buchanan and Peter Cheesbrough as Directors of the Company.

Southern Silver Reports Results from AGM

Silver – Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) reported that a financing of 20 million units at $0.08 per unit has been fully subscribed, the first tranche of $1,455,200 has closed. Southern Silver also announced that shareholders approved the following items at the AGM help on February 27: the designation of Electrum as a new control person, the adoption of a Shareholder Rights Plan, and the election of incumbent directors Lawrence Page, Q.C., David Roger Scammell, Dale Janowsky, Q.C., Eugene Spiering and Nigel Bunting.

Southern Silver Exploration – Acquisition, Exploration and Development in Mexico and New Mexico

Southern Silver Exploration Corp. (TSXV:SSV) is focused on acquisition, exploration and responsible development of potential major mining ventures in Mexico and New Mexico. In Mexico, since acquisition of the Cerro Las Minitas property in 2011, 75 holes have been drilled for a total of 23,310m leading to the discovery of 2 two high-grade silver-lead-zinc deposits (the Blind Zone and the El Sol Zone) and several other promising targets, including the South Skarn and Mina Santo Nino which are open at depth and in all directions.

Freeport Funds $250,000 Option Payment for Southern Silver Exploration

Copper – Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) announced that Freeport-McMoRan Exploration Corporation has provided Southern Silver with funding in the amount of $570,000. Southern Silver used $290,000, including applicable taxes, to pay the May 18, 2014 option payment to the optionor of the Cerro Las Minitas mineral concessions while the balance of $280,000 was utilized in ongoing exploration expenses.