El Creston Property Clarification
July 15, 2011 Symbol:-TSXV.NAA
EL CRESTON PROPERTY CLARIFICATION
Vancouver, BC – SIERRA IRON ORE CORPORATION (the “Company”)
In response to a request made by the British Columbia Securities Commission, the Company wishes to clarify certain information on its El Creston property.
The Company does not have any historical or current mineral resource estimates for the El Creston property. The Company’s technical report on the El Creston Property by R. Verzosa, dated March 15, 2011 includes quantity-grade estimates intended to provide guidance about potential size and grade ranges of the targets of further exploration. However, these estimates are not compliant with the requirements of NI 43-101 for disclosure of a potential exploration target. All previously disclosed estimates for the El Creston property, whether contained in disseminated materials, information accessible on the internet or in information which has been otherwise made publicly available, should not be relied upon until verified and supported by an independent National Instrument 43-101 compliant technical report.
The Company is preparing an updated report that will re-consider the size and grade ranges of exploration targets, and clarify other issues raised by regulators on the existing NI 43-101 report on the El Creston property. The new report is expected within a short period and the Company intends to adjust its disclosure record as required once the new report has been received and reviewed.
ON BEHALF OF THE BOARD OF DIRECTORS OF SIERRA IRON ORE CORP.
Wally Boguski, President/CEO
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Sierra Iron Ore Corporation which may cause actual results, performance or achievements of Sierra Iron Ore Corporation to be materially different from the results, performance or expectation implied by these forward looking statements. Such uncertainties include the completion of the acquisition of the El Creston property, and the ability of Sierra Iron Ore Corporation fund its participation, maintain its option and earn a resulting 50% interest in the El Creston property.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
C206 – 9801 King George Blvd. Surrey, British Columbia Canada V3T 5H5
Phone 604-581-0004 Fax: 604-585-9606 E-Mail – [email protected]