Sierra Metals Reports Exceptionally Wide Drill Intercepts at The Cuye-Mascota Zone and Discovers New Zone With High Silver Grades at Yauricocha, Peru

New Discovery and Wide, High-Grade Extension of Zone Demonstrates the Potential to Increase Mineral Resources Near Current Operations in the Short Term
The drilling program delineating extensions of the Cuye-Mascota zone include:

• Hole Mas-30: 68.9 meters of 32.5g/t Ag, 1.43% Cu, 3.28% Zn, 0.70g/t Au; including 29.6 meters of 2.0% Cu, 0.9g/t Au; and 7.9 meters of 18.7% Zn, 62.6g/t Ag
• Hole Mas-31: 12.0 meters of 6.6% Cu, 5.7% Zn, 24.9g/t Ag; and 2.8 meters of 456g/t Ag, 26.0% Pb, 19.0% Zn
• Hole Mas-33: 24.6 meters of 8.3% Cu, 3.2% Zn; and 21.0 meters of 3.5% Cu, 6.0% Zn, 132g/t Ag
• Esperanza North New Discovery Drill hole highlights include:
  Hole ESP-02: 0.5 meters of 2,050.0g/t Ag, 30% Pb; and 3.0 meters of 465.27g/t Ag, 1.99% Zn, 16.29% Pb, 5.84g/t Au
• Hole ESP-03: 2.4 meters of 985.21g/t Ag, 30% Pb, 2.40g/t Au

This discovery is approximately in the mid-point between the Esperanza orebody discovered in early 2016 and the Cachi Cachi Mine
This area had never been drilled before and the discovery is important for the interpretation of the orebody extensions between Esperanza and Cachi Cachi which are one kilometer apart.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (“Sierra Metals” or “the Company”) today announced the discovery of a new high-grade oxides zone, referred to as the Esperanza North zone, which is located between the Esperanza zone and Cachi-Cachi Mine. The Company also announced drilling results which demonstrate the extension of the high-grade sulfide zone, referred to as the Cuye-Mascota zone which was discovered in November 2016. This zone is located 200 meters north of the central mine area, along strike from current mining activities. The new discovery and extension come as part of an ongoing brownfield drilling program that is testing priority targets at the Yauricocha Mine located 150 kilometers east southeast of Lima in the Yauricocha Mining District (Cordillera Occidental), Peru.

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