Sierra completes airborne Magnetic Surveys at Giltra-Sat Project

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For Immediate Release

Sierra Grande Completes Airborne Magnetic Surveys at its

Glitra-Sat Gold Project in Western Nevada

Surrey, British Columbia, March 16, 202 3, Sierra Grande Minerals. (the “Company” or “ Sierra”) (CSE:

SGRO) (OTCQB: SIERF) (FSE: SRR) (“Sierra” or the “Company”) is pleased to announce that it has completed

drone-based aeromagnetic surveys along with soil and rock geochemical data and preliminary geologic mapping to

further highlight exploration potential , at its Glitra-Sat Project in Western Nevada. The magnetic lineaments and

magnetic relief, which commonly correlate with altered and potentially demagnetized host rocks, also correlate

closely with anomalous precious metals outlined in the Company’s 2020 geological evaluations, and in its 2021 soil

and rock geochemical sampling. The results of the Company’s present compilation work will be employed during

its 2023 exploration program to focus further geological mapping and geochemical sampling efforts, and to l ay a

foundation for ground geophysical surveys (for example, Controlled Source Audio Magneto -Telluric (CSAMT)

and/or induced Polarization (IP) surveys). The aim is that these surveys will lead to drill -testing of targets which

display the most attractive combination of geological, geochemical, and geophysical features.

The drone-mag surveys at Glitra-Sat covered the entirety of the two properties with flight lines spaced 50 meters

apart and flown on azimuths perpendicular to known and /or interpreted stratigraphic, structural, mineralized and

altered trends (see Figures 1 and 2). Technical details of the surveys, and products thereof, are given below. The aim

of the surveys was to better outline altered and mineralized trends on the properties, which may be expressed, for

example, as magnetic lows reflecting magnetite destruction accompanying alteration within relatively magnetic host

rocks. This should prove particularly helpful in areas where mineralized trends appear to continue beneath areas

partially to completely covered by overburden.

Glitra-Sat Update

At the Glitra-Sat project, the Company has three separate but closely spaced properties in the Seven Troughs Range

which lie south of Millennial Precious Metals’ Wildcat gold deposit ( Glitra, Sat and Orbit, see F igure 1). On

February 27, 2023 Millennial Precious Metals (TSX-V: MPM) announced a merger with Integra Resources Corp

(TSX-V: ITR) and a concurrent C$35,000,000 financing with Wheaton Precious Metals (TSX: WPM) as a new

cornerstone investor, with Wheaton agreeing to invest an amount equal to up to 9.9% of the issued and outstanding

shares of the merged company. Sierra views this as a very positive development for the area which will likely result

in more development in the area.

Glitra-Sat Technical Details

Results of the drone-mag survey at Sat showed an excellent correlation between an aeromagnetic low and an existing

600 metre long north-northeast to northeast trending gold-in-soil geochemical anomaly returning gold results

ranging up to 904 ppb ( see Figure 2). Recently a short geological traverse confirmed that the anomaly coincides

with brecciated and commonly limonitic felsic rocks that appear to cut mafic volcanic rocks of probable Tertiary

age. The felsic rocks and their immediate wall rocks have been altered and mineralized by hydrothermal activity

that have “bleached” their hosts and which likely generated the geochemical anomalies (see Image 1). Other nearby

but less well-defined geochemical anomalies on the Sat property also appear to be associated with similar magnetic

lows, and while generally poorly exposed, these adjacent ar eas also show a close association with similarly clay,

pyrite and silica altered and brecciated rocks that are evident in float as well as in sparse local outcrop and subcrop.

The Glitra property is underlain by a diverse and generally older suite of host rocks with a different magnetic

signature to that at Sat. However, the Glitra property shows a similarly close association between altered and

mineralized rocks, precious metals enriched soil and rock geochemistry, and a strong and persistent north-northeast

trending airborne magnetic low (See Figure 2). The soil geochemical anomaly hosts a number of samples exceeding

1 g/t gold. The Glitra property also shows a number of intriguing subparallel linear magnetic features that remain to

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be investigated. The Company looks forward to investigating these features with geologic mapping, and rock and

soil geochemical sampling, all as part of its 2023 exploration program.

“We remain encouraged with the outc ome of the magnetic surveys at Glitra and Sat . The data shows strong

correlation between high-tenor soil geochemical and magnetic trends on both parcels. This was our expectation and

glad to see the theory was tested. We will follow up on these results during our 2023 exploration program with more

detailed exploration over the anomalous areas with an ultimate aim of drill-testing high-potential targets on both

parcels” commented President, Sonny Janda.

Figure 1. Glitra-Sat Plan View with Highlighted Soil Geochemistry and Magnetic Survey Data

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Figure 2. Sat Highlighted Soil Geochem Data and Survey Area with 600 metre N-NE magnetic trend

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Figure 3. Glitra Highlighted Soil Geochemical Data and Magnetic Survey Area Results

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Image 1. Hand sample of brecciated, veined and altered felsic rocks associated with N-NE geochemically anomalous

trend at the Sat property.

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Figure 4. Nevada Regional Setting with Sierra’s Mineral Exploration Projects

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About the Glitra-Sat Projects

The Glitra and Sat properties are sister properties, with the relatively small “Orbit” property lying between. They

are located in Pershing County, western Nevada, in the Seven Troughs Range of the Farrell Mining District, which

hosts numerous historical and modern‐day mineral occurrences and deposits (see Figure 2). The properties are

contiguous with Millennial Precious Metals Wildcat Project, which hosts a 43 -101 compliant inferred mineral

resource of 67.6 million tons grading 0.37 g/t Au totaling 824,000 oz Au, and they lie a few kms north of Timberline

Resources Seven Troughs Project (see Figure 2).

On the Glitra property, results from a previously completed soil-geochemistry survey identified a promising +1km

north-northeast trending mineralized and altered zone with a pronounced epithermal Au-Ag-As-Hg signature and a

width ranging up to 150 to 200 metres (see Figure 3).

At Sat, strong soil sampling results also appear to outline a north-northeast trending anomalous zone with a

pronounced Au-Hg-As-Ag signature that most likely reflects structurally-hosted epithermal mineralizing system(s)

(see Figure 2).

Drone-Mag Survey Deliverables

The drone-mag survey at Glitra-Sat featured 50 metre line spacings along NE-SW azimuths, with a total surveyed

area of 693 line kilometres. Data Deliverables for the surveys include:

➢ Technical Reports

➢ Total Field Magnetics Maps

➢ First Vertical Derivative Map

➢ Analytical Signal Map

➢ Processed, micro-leveled line by line database of the magnetic data

➢ Raw survey data and geodatabase digital files and base station data

➢ 12m and 5m resolution DSM files

Technical data pertaining to this new release was reviewed and approved by Charles J. “Charlie” Greig, MSc.,

P.Geo., a qualified person under National Instrument 43-101.

ON BEHALF OF THE BOARD

Jared Scharf, Director

For further information on the Company, please contact Jared Scharf, Director, Telephone: 604-357-3741 or at [email protected]

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 assumpt ions are considered

reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive 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 such 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 su ccesses, 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 reg ulators for information on these and other risk factors,

available 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 for ward-looking statements due to the inherent uncertainty of such statements. The forward -

looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or ob ligation to update or

revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applica ble

securities legislation.”