Sierra modifies Silveria option agreement
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For Immediate Release
SIERRA SUCCESSFULLY MODIFIES OPTION AGREEMENT
Surrey, British Columbia , March 2 7, 2023, Sierra Grande Minerals Inc. (the “Company” or “ Sierra”) (CSE:
SGRO) (OTC: SIERF) (FF: F91Q) is pleased to announce that it has successfully agreed to new and modifying terms
and conditions with CIEMSA, the Optionee of our Silveria property in Peru. As previously announced on October 27,
2020, the original option agreement held a 3-year term, with 4 cash instal ments, totalling $1,000,000 USD,
supplemented with a 1% NSR, for a 3-year term, commencing upon mineral extraction and/or production. The changes
to the terms and conditions are outlined in the table below:
Given the legacy nat ure of this transaction, we are pleased to have come to a resolution and continue working with
our Optionee.
ON BEHALF OF THE BOARD
Sonny Janda, CEO & Director
www.sierraminerals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law,
including without limitation, statements that address the timing and content of certain agreements and development. Forward-looking statements
address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions
are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, co mpetitive and
regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects and, accordingly, may not
occur as described herein or at all. Actual results may differ materially from those currently anticipated in su ch statements. Factors that could
cause actual results to differ materially from those in forward looking statements include Covid-19 restrictions, market prices, exploitation and
exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and
general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for
information on these and other risk factors, avai lable at www.sedar.com. Investors are cautioned that forward -looking statements are not
guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward -looking statements due to the
inherent uncertainty of su ch statements. The forward -looking statements included in this news release are made as of the date hereof and the
Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by applicable securities legislation.”
NSR 1% NSR 1%
Amount Terms Amount Terms
200,000.00$ Upon Registration (paid) 200,000.00$ Credit from Original Agmt.
100,000.00$ 12 months thereon 82,527.00$ Upon execution (paid)
450,000.00$ 24 months thereon 82,527.00$ December 29, 2023
250,000.00$ 36 months thereon 165,000.00$ June 28, 2024
165,108.60$ December 30, 2024
250,000.00$ Court confirmation (Peru)
1,000,000.00$ 945,162.60$
Original Agreement Modified Agreement
21-Aug-20 20-Feb-23
Option Agreement (Silveria)