Sierra Metals Inc. announced the updated results for its National Instrument 43-101 ? Standards of Disclosure for Mineral Projects (?NI 43-101?) compliant Mineral Resource and Reserve Estimates (?MRE?) for its Yauricocha Mine in Peru and its Bolivar Mine in Mexico. Mineral resources are inclusive of mineral reserves.

Assumes 347 operating days per year at full plant capacity, assuming 1.5 days per month of maintenance works. Assumes throughput rates of 3,600 tpd. Assumes throughput rates of 5,000 tpd.

At Bolivar, the Company replaced and increased mineral resources mined in 2023 and with over 8,000 meters of mine development planned in 2024, expects to continue to replace mineral resources mined through exploration activities. At Yauricocha, mine development is currently underway below the 1120 level and expects to achieve full production by Fourth Quarter 2024. The Company expects to replace and increase minerals resources once it begins mining activities in that portion of the ore body with systematic infill drilling efforts.