Mr. Igor Gonzales reports

SIERRA METALS ANNOUNCES THE RESOLUTION OF THE ILLEGAL STRIKE AT THE YAURICOCHA MINE, PERU

The strike action at Sierra Metals Inc.'s Yauricocha mine in Peru that had been running since March 19, 2019, initiated by the Union of the Mine and Metallurgical Workers of Minera Corona, has been resolved.

During the strike, there were no material situations that took place, and an agreement has been reached, whereby no contractors, dismissed as part of the contractor change, will be reinstated, which was the initial reason for the strike.

Employees will arrive back to the camp of the Yauricocha mine on April 13, 2019, and regular operations of the mine will begin on April 14, 2019.

Igor Gonzales, president and chief executive officer, commented, "Management believes that lost production experienced during this strike action will not materially affect the company's annual production guidance or mine budget."

About Sierra Metals Inc.

Sierra Metals is a Canadian-based growing polymetallic mining company with production from its Yauricocha mine in Peru, and its Bolivar and Cusi mines in Mexico. The company is focused on increasing production volume and mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or in close proximity to the existing mines. Additionally, the company has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

We seek Safe Harbor.