Sierra Madre Makes Final Payment for Tepic Project, Nararit, Mexico
Sierra Madre Makes Final Payment for Tepic Project, Nararit,
Mexico
VANCOUVER, BC / ACCESSWIRE / April 29, 2022 / Sierra Madre Gold and Silver Ltd.
(TSXV:SM)(OTCQB:SMDRF) ("Sierra Madre" or the "Company") is pleased to announce it
has made the final payment of USD$50,000 to acquire 100% of the Tepic Silver/Gold Project in
Nayarit, Mexico. The company is in the process of having the licenses transferred into its fully
owned subsidiary, PITA Exploration S. DE R.L. DE C.V.
Sierra Madre also announces that, pursuant to its Stock Option Plan, it has granted stock options
to certain consultants to purchase an aggregate of 500,000 common shares of the Company at the
price of $0.74 per share for a period of 5 years from the grant date. The options will vest 1/3
immediately as of the date of grant; 1/3 six months after the date of the grant; and 1/3 twelve
months after the date of the grant. This stock option grant is subject to acceptance by the TSX
Venture Exchange.
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:
Cautionary Note
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 news release.
SOURCE: Sierra Madre Gold and Silver