Mr. Alexander Langer reports

SIERRA MADRE FILES NI 43-101 TECHNICAL REPORT ON UPDATED MINERAL RESOURCE ESTIMATE FOR LA GUITARRA

Sierra Madre Gold and Silver Ltd. has filed a technical report, prepared in accordance with the National Instrument 43-101 -- Standards of Disclosure for Mineral Projects for its La Guitarra silver-gold mine and the Temascaltepec mining district in Estado de Mexico, Mexico. Sierra Madre previously released the results of the mineral resource estimate (the MRE) on Nov. 1, 2023. The technical report is available on SEDAR+ under the company's profile at SEDAR+ and on the company's website. TechSer Mining Consultants Ltd. of Vancouver, B.C., prepared the mineral resource estimate, David Thomas, PGeo, and QP, geology, and Cristian Garcia, PEng, and QP, Mining.

Key highlights of the MRE include:

• 373-per-cent increase to 27.2 million ounces silver equivalent (AgEq) indicated resource;
• 204-per-cent increase to 20.2 Moz AgEq inferred resource.

The attached tabulates the La Guitarra estimated mineral resources.

The attached tabulates the mineral resource estimates by classification and area.

Qualified person

Gregory Smith, PGeo, director of Sierra Madre, is a qualified person as defined by National Instrument 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.

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.

We seek Safe Harbor.