Sierra Announces Warrant Extension and Repricing

NEWS RELEASE

June 18, 2015 Symbol:-TSX-V: NAA OTCQX: SIOCF SIERRA ANNOUNCES WARRANT EXTENSION AND REPRICING

VANCOUVER, BC –Sierra Iron Ore Corp. (“Sierra” or the "Company") has applied to the TSX Venture Exchange to extend the terms and amend the exercise price of warrants (the “Warrants”) issued pursuant to a June, 2013 unit private placement. Warrants to purchase 1,678,850 common shares will be extended to expire on July 10, 2015, at an amended exercise price of $0.40. The un-amended exercise price was $0.55 and the Warrants would have otherwise expired on June 27, 2015.

The Warrant extension and re-pricing is subject to regulatory approval.

On behalf of The Board of Directors of Sierra Iron Ore Corporation.

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.

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.

CANADA USA 13236 Cliffstone Court #1021 – 100 East Street Lake Country BC V4V 2R1 Carefree, AZ 85377 Tel: 250-766-1517 Tel: 480-575-1220 Fax: 250-766-1839 Fax: 480-488-3492 www.sierrairon.com [email protected]