Receipt Of Permit At The Yauricocha Mine

TORONTO - Sierra Metals Inc. announced the receipt of an Informe Tecnico Minero (ITM) Permit from the Peruvian Ministry of Energy and Mines. The ITM Permit allows for the construction and operation at a capacity of 3,600 tonnes per day (TPD), at the Yauricocha Mine in Peru.

Luis Marchese, CEO, said, “I am delighted with the receipt of the ITM permit. The Company may now increase throughput at Yauricocha to 3,600 TPD which represents a 20% increase in throughput. Today’s news will further support the Company in achieving its annual production guidance.

Additionally, we continue focusing on the completion of the Prefeasibility Study at Yauricocha, which examines increasing throughput to 5,500 TPD starting in 2024, as well as on the Prefeasibility Studies for our Mexican operations. 2021 continues to be an exciting year for the Company as we continue with organic growth plans including significant brownfield and greenfield exploration programs to support future mineral resource and production growth. Management also continues to focus on improving and modernizing our mine operations, increasing operating efficiencies to improve productivity and reduce costs."