Sierra Madre Announces Receipt of Drilling Permit and Formal Surface Agreements with Local Ejido at the LA Tigra Project, Nayarit, Mexico
SIERRA MADRE ANNOUNCES RECEIPT OF DRILLING PERMIT AND FORMAL SURFACE
AGREEMENTS WITH LOCAL EJIDO AT THE LA TIGRA PROJECT, NAYARIT, MEXICO
Vancouver, British Columbia – February 24, 2022 – Sierra Madre Gold and Silver Ltd. (TSXV:
SM, OTCQB: SMDRF) ("Sierra Madre" or the "Company") ") is pleased to announce that it has
received a permit from SEMARNAT, the Mexican federal environmental permitting agency,
authorizing the use of 30 drill pads within the La Tigra Project. Multiple exploration holes can be
drilled and offset from each permitted pad. In addition, the Company has entered into formal
surface rights exploration agreements with Ejidal Santa Maria Picachos; the surface owners at
La Tigra, that allows for the commencement of the drilling program.
Luis Saenz, Director of Exploration and Development for Sierra Madre states, “I am very pleased
at the progress that has been made at the La Tigra project. We began work on the project in
July, 2021 and have rapidly moved it to a drill ready stage. The successful mapping, trenching
and underground surveying programs have defined high quality drill targets and I am looking
forward to the commencement of drilling.”
La Tigra Environmental, Community, and Social Programs
The company is delighted to report on its ongoing Environmental, Community, and Social
programs. At the time Sierra Madre began work at La Tigra, there was no school building
available for the children in the La Tigra project area. The company has since funded the re-
opening of the El Jejito Elementary School and hired a full-time teacher for the children within
the community.
Restoring the El Jejito school building
The project site also lacked rudimentary sanitation facilities and the community water storage
facility had fallen into disrepair. Rehabilitation of the water cistern previously used to store
fresh water has been completed. The company has begun construction of enclosed latrines at
each of the family houses in the La Tigra project area. Further environmentally friendly options
for obtaining and storing potable water are currently being investigated.
About Sierra Madre
Sierra Madre Gold and Silver Ltd. is a mineral exploration company, currently focused on the
acquisition, exploration and development of the Tepic and La Tigra Properties in Nayarit, Mexico.
The Company has an experienced management team with a proven track record of wealth
creation in Mexico through project discovery, advancement, and monetization. Sierra Madre’s
key objective is to advance exploration on the Tepic and La Tigra Properties to determine whether
they contain commercially exploitable deposits of precious or base metals.
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
“Alexander Langer”
Alexander Langer
President, Chief Executive Officer and Director
Contact:
Sierra Madre Gold and Silver Best Practice
Sierra Madre is committed to best practice standards for all exploration and sampling activities.
The Company’s exploration programs have been conducted following CIM Exploration Best
Practice Guidelines which are incorporated by reference in NI 43 -101. A nalytical quality
assurance and quality control procedures include the systematic insertion of blanks, standards
and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to
Bureau Veritas Lab located in Durango, Mexico for 30 gram gold fire assay and multi -element
analyses by acid digestion.
Qualified Person
Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43 -
101, and has reviewed and approved the technical data and informa tion contained in this news
release. Mr. Smith has verified the technical and scientific data disclosed herein.
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Ventu re Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
This press release contains "forward -looking information" and "forward -looking statements"
within the meaning of applicable securities legislation. The forward-looking statements herein are
made as of the date of this press release only, and the Company does not assume any obligation
to update or revise them to reflect new information, estimates or opinions, future events or results
or otherwise, except as required by ap plicable law. Often, but not always, forward -looking
statements can be identified by the use of words such as "plans", "expects", "is expected",
"budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets",
"aims", "anticipates" or "believes" or variations (including negative variations) of such words and
phrases or may be identified by statements to the effect that certain actions "may", "could",
"should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information
in this press release includes, but is not limited to, statements with respect plans for the La Tigra
property, including the prospect of preparing a technical report containing a mineral resource
estimate. Forward -looking statements an d information are subject to various known and
unknown risks and uncertainties, many of which are beyond the ability of the Company to control
or predict, that may cause the Company’s actual results, performance or achievements to be
materially different f rom those expressed or implied thereby, and are developed based on
assumptions about such risks, uncertainties and other factors set out herein, including, but not
limited to, the risk that the La Tigra Property may not yield the results expected and the g eneral
risk factors related to exploration and development as are set out under the heading "Risk
Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available
for review on the Company's profile at www.sedar.com. Such fo rward-looking information
represents management's best judgment based on information currently available. No forward -
looking statement can be guaranteed and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking statements or information.