Sierra Madre Provides Exploration Update
SIERRA MADRE PROVIDES EXPLORATION UPDATE
Vancouver, British Columbia – April 21, 2021 – Sierra Madre Gold and Silver Ltd. (“ Sierra Madre” or
the “Company”) (TSXV:SM) is pleased to announce an update on its 100% owned Tepic Silver-Gold
Project (the “Project”) . The Tepic Silver Gold Project hosts low-sulfidation epithermal silver and gold
mineralization lying within the Sierra Madre Geologic Province. Significant expenditures in exploration
and engineering were completed by previous operators.
Tepic Gold-Silver Project
Sierra Madre’s Tepic Silver -Gold Project lies 22 kilometres southeast of the city of Tepic, Nayarit State,
Mexico. The Project has seen a significant amount o f previous exploration and drilling which is detailed
in a Technical Report titled Technical Report on the Tepic Property, dated March 29, 2021 and available
on SEDAR. The Company initiated exploration activities in late 2020.
Exploration and Property Development Team
Sierra Madre has hired Luis Saenz as Director of Exploration and Development. Luiz has 31 years of
experience and worked closely with the company’s COO Greg Liller on the exploration and development
of the Magistral Mine (part of McEwin Gold’s El Gallo Mine Complex), the exploration, development,
construction, and early production phases of both the open pit and underground mines at Ocampo (sold
to Frisco for $750 million) and the expansion project for the La Guitarra mine (sold to First Maje stic for
$125 million). Luis has extensive contacts throughout the Mexican mining industry and more recently was
Subdirector of Exploration and Special Projects for Minera Frisco.
Luis has put together a team of senior geologists for the Company with +90 years of exploration and
project development experience. They are backed up by a support group of computer literate junior
geologists with excellent field skills, along with field technicians and administrative personnel.
Comprehensive Project Mapping
The senior geologists have begun a phased project wide mapping program. This program began with
the core area which was the focus of previous drilling, as well as small scale historical mining activity.
Field work has now expanded to include mapping to the west and north and additionally on the
eastside of the Project. Preliminary indications are the hydrothermal system responsible for the silver
and gold mineralization is more extensive than previously known.
Topographic Map and Satellite Imagery
Real time Satellite Imagery was captured in the final weeks of November 2020 following the placement of
survey control points on the ground. The Orthophoto imagery and topography map s, which include
topographic contour lines with ± 30-centimeter accuracy, were delivered the end of December. These
detailed maps provide an invaluable toll for accurately locating and plotting previous drill holes, historical
mining works, and outcropping veins and mineralized structures which has already led to updated
interpretations and the identification of previously undocumented zones and targets.
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Historic Data Compilation
Incorporation of historic data, including the majority of the 31,000 metres of drill core, into S ierra
Madre’s GIS data base began in January 2021. An inventory of the historic core has been completed
and a photographic library of all core is underway.
The core photos will be valuable in planning and executing the upcoming reverse circulation drilling
program.
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Qualified Person
Mr. Gregory Smith, P. Geo, Director and Vice President of Exploration of Sierra Madre, is a Qualified
Person as defined by NI 43 -101, and has reviewed and approved the technical data and information
contained in this news release.
About the Company
Sierra Madre Gold and Silver Ltd. is a mineral exploration company, currently focused on the
acquisition, exploration and development of the Tepic Property 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 Property to determine whether it contains 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
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.
Cautionary Note Regarding Forward-Looking Statements
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 applicable 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 to future events or future performance of the Company, the
Company’s plans regarding future exploration activities and benefits arising from the listing of the
Company’s common shares on the TSXV. Forward-looking statements and 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 from those expressed or implied thereby, and are developed
based on assumptions about such risks, uncertainties and other factors set out herein, including, but
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not limited to, the risk factors 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 forward-looking information represents management's best judgment based
on information currently ava ilable. 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.