VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 16, 2011) – Southern Silver Exploration Corp. (“Southern Silver”) (TSX VENTURE:SSV)(FRANKFURT:SEG) announces that it has closed the second tranche of its previously reported non-brokered private placement by issuing 4,818,206 units at a price of $0.17 per unit for gross proceeds of $819,095. Each unit consists of one common share and one share purchase warrant exercisable to purchase one additional common share for a period of two years at an exercise price of $0.22 per share.
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