Mr. Charles Downie of Omineca reports

OMINECA MINING AND METALS AND SIERRA MADRE DEVELOPMENTS ANNOUNCE AMENDMENT OF OPTION AGREEMENT FOR THE ABO (HARRISON GOLD) PROPERTY

Omineca Mining and Metals Ltd. has signed an amendment to its option agreement with Sierra Madre Developments Inc., whereby Sierra Madre has the option to acquire a 100-per-cent interest (subject to a retained 2-per-cent net smelter return royalty in favour of Omineca) in the 2,427-hectare Abo project (also referred to as the Harrison gold project), located in southwestern British Columbia.

Pursuant to the original option agreement, as previously amended, to exercise the option, Sierra Madre was required to: (a) pay to Omineca $1-million in cash; (b) deliver 1,333,333 common shares of Sierra Madre (based on the share consolidation implemented on Dec. 12, 2012); and (c) incur $3-million in expenditures on the property within a five-year period.

In consideration of Sierra Madre agreeing to issue an additional 1.5 million shares over and above those contemplated in the original option agreement (for an aggregate of 2,833,333 shares), the parties have agreed to extend the share payment and expenditure due dates for a period of one year and to reduce the total expenditure requirements to $2-million, by amending the terms of the cash payments such that $400,000 may be made in shares of Sierra Madre and the balance paid in instalments by way of an advanced preferred royalty commencing on the earliest to occur of: (i) a feasibility study being completed on any portion of the property; (ii) the sale of the property (or any change of control of the company pertaining to the indirect purchase of the property); or (iii) placing any part of the property into commercial production.

In all other material respects, the original agreement remains in full force and effect.

We seek Safe Harbor.