Sierra Announces Private Placement

NEWS RELEASE

February 24, 2015 Symbol:-TSX-V:NAA

SIERRA ANNOUNCES PRIVATE PLACEMENT

Vancouver, BC – SIERRA IRON ORE CORPORATION (the “Company”) is pleased to announce that it has arranged a non-brokered private placement. The private placement financing will consist of up to 2,000,000 units (“Units”) for gross proceeds up to $300,000.00.

Each Unit will be priced at $0.15 and will consist of one common share and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share at a price of $0.20 per share for 24 months from the closing date.

The proceeds of this private placement will be used to advance exploration activities at the Emerald Lake property and for general working capital.

All securities issued will be subject to a four-month hold period from closing.

This private placement remains 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.

13236 Cliffstone Court, Lake Country, BC V4V 2R1 Tel: 250-766-1517 Fax: 250-766-1839