Mr. Alexander Langer reports

SIERRA MADRE ANNOUNCES GRANT OF STOCK OPTIONS

Sierra Madre Gold and Silver Ltd., pursuant to its stock option plan, has granted stock options to employees of La Guitarra Compania Minera S.A. de C.V., certain directors, management and consultants of the company, to purchase an aggregate of 2.75 million common shares of the company at the price of 73 cents per share for a period of five years from the grant date. The options shall be granted under and subject to the terms and conditions of the company's stock option plan, and subject to the rules and policies of the exchange. Forty thousand of the options were granted to the company's investor relations consultant, Adelaide Capital, and will vest: one-fourth three months after the date of the grant; one-fourth six months after the date of the grant; one-fourth nine months after the date of the grant and one-fourth 12 months after the date of the grant. The remaining options will vest: one-third immediately as of the date of grant; one-third six months after the date of the grant; and one-third 12 months after the date of the grant. This stock option grant is subject to acceptance by the TSX Venture Exchange.

About Sierra Madre Gold and Silver Ltd.

Sierra Madre Gold is a precious metals development and exploration company focused on the Guitarra mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500-tonne-per-day processing facility that operated until mid-2018 and restarted commercial production in January, 2025.

The plus-2,600-hectare Tepic project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.

Sierra Madre's management team has played key roles in managing the exploration and development of silver and gold mineral reserves and mineral resources. Sierra Madre's team of professionals has collectively raised over $1-billion for mining companies.

We seek Safe Harbor.