Mr. Alexander Langer reports

SIERRA MADRE ANNOUNCES $500,000 PRIVATE PLACEMENT

Sierra Madre Gold and Silver Ltd. has arranged a non-brokered private placement for gross proceeds of up to $500,000 with one existing investor in the company. The offering will consist of up to 1.25 million common shares of the company at a price of 40 cents per share. Net proceeds will be used for future marketing activities and general working capital. The offering is expected to close shortly and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

The securities issued in the offering will be subject to applicable hold periods imposed under applicable securities legislation, including a hold period of four months and one day from the date of issuance.

About Sierra Madre Gold and Silver Ltd.

Sierra Madre Gold and Silver is a precious metal development and exploration company, focused on evaluating the potential of restarting the Guitarra mine in the Temascaltepec mining district in Mexico and the exploration and development of its Tepic property in Nayarit, Mexico. The 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 historic resource.

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.

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