Sierra Metals Inc. announced that in order to align the organization to effectively achieve these goals, as well as to overcome current operational issues, the following appointments have been made: James León – Vice President, Operations: Effective February 1st, following his previous appointment as Country Manager Perú, Mr. León will now manage both Yauricocha and Bolivar operations. Mr. León will be based in Mexico. He will oversee the delivery of increasingly improved operational results and efficiencies, following the difficult challenges Bolivar and Yauricocha have faced over the past two years.

Mr. León is a Peruvian Mining Engineer with over 25 years of experience and has been with Sierra Metals since August of 2017 in various roles including Operations Manager in Mexico until 2019, and then Country Manager in Peru. Alonso Lujan – Vice President, Exploration: Effective February 1st, as Vice President, Exploration, Mr. Lujan will focus on the extensive resource growth and business opportunities, in both brownfield and greenfield exploration, at properties in Perú and México. Both Yauricocha and Bolivar are in underexplored, highly prospective geological regions, with another 80,000 Hectares of greenfield properties owned by Sierra Metals.

His role is fully aligned with the strategic objective of unlocking the significant potential value at these properties. Mr. Lujan is a Mexican Geological and Mining Engineer with over 30 years international experience in mineral exploration with a positive track record for increasing companies' resources, output and company value. Effective November 1, 2021, Mr. Alberto Calle is taking the role of VP Human Resources, in charge of the HR function at Sierra Metals.

Provided the changing environment and ongoing challenges on this area, this role is key to assist with strengthening teams, and maintaining a healthy and motivated work environment, in both Peru and Mexico. Effective December 1, 2021, Mr. Juan Jose Mostajo joins legal team and will assist in legal matters related to both Peru and Mexico. His role is key for managing the ongoing legal and permitting issues at both of operations and supporting the strategy of the Company moving forward.