Mr. Sonny Janda reports

SIERRA CLOSES NON-BROKERED PRIVATE PLACEMENT

Subject to exchange policies, Sierra Grande Minerals Inc. has closed its non-brokered private placement. The company has raised $300,000 through the sale of five million units at a price of six cents per unit. Each unit consists of one common share in the equity of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a price of eight cents per common share, expiring on Feb. 27, 2025.

Securities issued as a result of the financing are subject to a statutory hold period. The proceeds of this financing will be used primarily for exploration activities and general working capital. No finders' fees were paid.

Certain directors of the company acquired units under the financing. Such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to nor the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

We seek Safe Harbor.