SIERRA MADRE GOLD SILVER - SMDRF STOCK NEWS

Sierra Madre Gold and Silver announces the successful closing of a non-brokered private placement financing, raising approximately $1 million to fund mine operations in Mexico. The Company issued 3,571,500 shares at $0.28 each, with net proceeds allocated for mine care and maintenance, as well as a restart plan for the La Guitarra Silver-Gold Mine Complex.

Sierra Madre Gold and Silver Ltd. announces a non-brokered private placement with an existing institutional shareholder, raising $1,000,000 for the La Guitarra Silver-Gold Mine Complex. The Offering of 3,571,428 shares at $0.28 per share will fund mine maintenance and restart plans in Mexico.

Sierra Madre Gold and Silver Ltd. (TSXV:SM)(OTCQX:SMDRF) announces the successful release of 5,123,092 subscription receipts, converting them into common shares and granting access to $3,330,010 in proceeds.

Sierra Madre Gold and Silver Ltd. announces its first project-wide Resource Estimate for the La Guitarra silver-gold mine and the Temascaltepec mining district in Mexico. The estimate shows indicated resources of 3,842,000 tonnes with an average silver equivalent grade of 220 g/t and inferred resources of 4,105,000 tonnes with an average silver equivalent grade of 153 g/t. The company plans to release a Mine and Restart Plan in Q1 2024 to evaluate the economic potential of the mine.

Sierra Madre engages Stantec for tailings deposition options at La Guitarra Silver-Gold Mine Complex in Mexico. Extension of Subscription Receipts announced.

Sierra Madre Gold and Silver Ltd. updates on its acquisition of the La Guitarra Silver-Gold Mine, following shareholder approval for the exchange of 69,063,076 common shares valued at US$35 million. The acquisition aims to enhance production and cash flow from the operational mine in Mexico. The company seeks Mexican antitrust approval, expected in Q1 2023, to finalize the transaction. This strategic move positions Sierra Madre to leverage La Guitarra's historical resources of approximately 7.45 million oz silver-equivalent for future growth.

Sierra Madre Gold and Silver Ltd. (SMDRF) announced that at their special meeting on December 9, 2022, shareholders voted overwhelmingly (99.99%) in favor of acquiring all shares of La Guitarra Compañia Minera S.A. de C.V. from Corporacion First Majestic for 69,063,076 common shares, valued at approximately CAD 44.89 million (USD 35 million). This transaction is pending final acceptance from the TSX Venture Exchange. Additionally, the issuance of shares will create a new Control Person with First Majestic, approved by the same majority.

Sierra Madre Gold and Silver Ltd. has updated its acquisition of the La Guitarra Silver-Gold Property following an amended agreement with First Majestic Silver Corp. The amended agreement, dated October 28, 2022, modifies terms regarding a 2% net smelter returns royalty that will now be granted prior to the closing of the transaction, rather than concurrently. Necessary governmental approvals must also be secured before closing. The company aims to finalize the acquisition by the end of 2022, maintaining other material terms unchanged from the initial announcement.