Mr. Alexander Langer reports

SIERRA MADRE ANNOUNCES CLOSING OF $500,000 PRIVATE PLACEMENT

Sierra Madre Gold and Silver Ltd. has closed its previously announced non-brokered private placement for aggregate gross proceeds of $500,000 through the sale of 1.25 million common shares of the company at a price of 40 cents per share.

The company intends to use the net proceeds of the offering for future marketing activities and general working capital.

The offering remains subject to the final approval of the TSX Venture Exchange. All securities issued pursuant to the offering are subject to a hold period expiring on Jan. 19, 2025.

About Sierra Madre Gold and Silver Ltd.

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

We seek Safe Harbor.