Southern Silver Exploration Corp Symbol SSV Shares Issued 42,699,321 Close 2008-03-27 C$ 0.25 Recent Sedar Documents Soltoro partner to continue with second year of option 2008-03-28 09:30 ET - News Release See News Release (C-SOL) Soltoro Ltd Mr. Andrew Thomson of Soltoro reports SOLTORO RECEIVES NOTICE SOUTHERN SILVER PROCEEDING WITH SECOND YEAR EARN IN OPTION AT QUILA Soltoro Ltd. has received notification from Southern Silver Exploration Ltd. that it wishes to proceed into the second year of its option on the Quila gold-silver-copper project in Jalisco, Mexico. On Feb. 7, 2008, Soltoro received 75,000 common shares of Southern Silver as first-year anniversary payment under the terms of the option agreement. Southern Silver was required to carry out $150,000 (U.S.) in exploration expenditures in year one and has an obligation to expend $350,000 (U.S.) in year two in order to retain its option. Southern Silver may acquire a 70-per-cent interest in Soltoro's Quila property by issuing a total of 500,000 shares and spending $3-million (U.S.) on exploration in the next four years. Soltoro shall retain a carried 30-per-cent interest to delivery by Southern Silver of a bankable feasibility study and shall participate as a 30-per-cent working interest partner thereafter. Southern Silver has indicated it will carry out up to 1,500 metres of drilling during the 2008 exploration season which will focus on the Altavista prospect, located about 7.0 kilometres to the east of the previous drilling, where up to 3.8 metres of 7.12 grams per tonne gold was returned from surface sampling of hematite-quartz breccias. The Minas de Ameca property grouping is three kilometres to the east of Soltoro's La Tortuga copper-gold porphyry project which is being investigated for a similar style deposit as the Quila claim. The La Tortuga claim is under joint venture to SMM Exploration Corp., a subsidiary of Sumitomo Metal Mining Co. Ltd., one of Japan's leading copper mining and manufacturing companies. A drill program has just been completed at La Tortuga with assays pending at the time of this release.