Sierra Madre Developments Inc . (TSXV: SMG) (the “Company”) announces that it will not be proceeding with the previously announced acquisition of claims in the Urban-Barry Gold Camp area in Quebec , share consolidation and private placement financing (see news release dated

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NEWS RELEASE

April 2, 2020

Sierra Madre Developments Inc . (TSXV: SMG) (the “Company”) announces that it will not be

proceeding with the previously announced acquisition of claims in the Urban-Barry Gold Camp

area in Quebec , share consolidation and private placement financing (see news release dated

February 25, 2020). The Company is seeking TSXV Venture Exchange approval for resumption

of trading on the NEX board. The Company will continue to look for new business opportunities.

ON BEHALF OF THE BOARD:

“Raymond Wladichuk”

Raymond Wladichuk, CEO

Neither the 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 release.