Sierra Metals(TSX: SMT) (BVL: SMT) (NYSE American: SMTS) (Sierra Metals or the Company) today announced positive drilling results from the Cuye zone located within theCentral Minearea of theYauricocha Mine. To date, 4 holes have been executed from the 870 level of theYauricocha Mine. These holes have intercepted polymetallic sulphide mineralization containing high grade zinc and copper zones over significant widths. These results demonstrate the potential for high grade mineralization within the reported area, and more importantly indicate the continued existence of extensive mineralization at depth.

Further, it appears that the Cuye and Catas orebodies unite and become one orebody at depth. The Cuye zone remains open at depth and there is a strong likelihood of expanding this zone with further exploration programs. These results come as part of an ongoing brownfield drilling program testing priority targets at theYauricocha Mine, which is located 150 kilometers east-southeast ofLimain theYauricocha Mining District(Cordillera Occidental),Peru.

Igor Gonzales, President and CEO ofSierra Metalsstated:

Today’s results represent the existence of high grade polymetallic mineralization at Cuye, and suggest the possibility of even further mineralization to depth. Additionally, these results represent some of the widest sulfide intercepts drilled at Yauricocha since the discovery of the Esperanza Zone in 2016.

The Company has made a strong commitment to brownfield exploration in 2017 and results such as the ones released today continue to demonstrate that this investment is paying off with the potential to further grow our mineral resources.

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