Mr. Alex Langer reports

OTC MARKETS GROUP WELCOMES SIERRA MADRE GOLD AND SILVER LTD TO OTCQX

Sierra Madre Gold and Silver Ltd. has qualified to trade on the OTCQX Best Market. Sierra Madre Gold and Silver upgraded to OTCQX from the Pink market.

Sierra Madre Gold and Silver begins trading today on OTCQX under the symbol SMDRF. U.S. investors can find current financial disclosure and real-time Level 2 quotes for the company on the OTC Markets website.

Upgrading to the OTCQX market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the United States. To qualify for OTCQX, companies must meet high financial standards, follow best-practice corporate governance and demonstrate compliance with applicable securities laws.

"We are thrilled to announce that Sierra Madre will once again trade on OTCQX," stated Alex Langer, president and chief executive officer. "This is an important step for us to provide existing and new shareholders with the ability to purchase shares of Sierra Madre in the U.S., a key market for retail and institutional silver investors."

Dorsey & Whitney LLP acted as the company's OTCQX sponsor.

About Sierra Madre Gold and Silver Ltd.

Sierra Madre Gold & Silver is a precious metal development and exploration company, focused on the restart of the La Guitarra mine in the Temascaltepec mining district in Mexico and the exploration and development of its Tepic and La Tigra properties in Nayarit, Mexico. The La Guitarra mine is a permitted, past-producing underground mine that includes a 500-tonne-per-day processing facility that operated until mid-2018. The more-than-2,600-hectare Tepic project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. La Tigra, located 148 kilometres north of Tepic, has been mined historically; Sierra Madre's maiden 2022 drill program at the site intercepted shallow mineralization. Sierra Madre's management has played key roles for managing exploration and development of more than 22 million ounces gold and 600 million ounces silver in combined reserves and resources. Sierra Madre's team of professionals has collectively raised over $1-billion for mining companies.