Mr. Alexander Langer reports

SIERRA MADRE ANNOUNCES DTC ELIGIBILITY

Sierra Madre Gold and Silver Ltd.'s common shares are now eligible for electronic clearing and settlement through Depository Trust Company (DTC) in the United States. DTC eligibility is expected to create a seamless process of trading and enhance liquidity of the company's common shares in the United States over time. Sierra Madre's shares started trading on the OTCQX Best Market this past summer.

Alexander Langer, president and chief executive officer of Sierra Madre, stated: "DTC eligibility complements our recent listing qualification on the OTCQX Best Market, announced on July 28, 2023. Obtaining DTC eligibility represents the company's commitment to increasing visibility and accessibility for shareholders in the United States."

About Sierra Madre Gold and Silver Ltd.

Sierra Madre is a precious metals development and exploration company, focused on evaluating the potential of restarting the La Guitarra mine in the Temascaltepec mining district, 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 which includes a 500-tonne-per-day processing facility that operated until mid-2018.

The greater-than-2,600-hectare Tepic project hosts low-sulphidation epithermal gold and silver mineralization with an existing historical 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 of gold and 600 million ounces of silver in combined reserves and resources. Sierra Madre's team of professionals has collectively raised over $1-billion for mining companies.

We seek Safe Harbor.