Day: April 11, 2017

Gordon Babcock, Chief Operating Officer of Sierra Metals Inc. commented: “We are satisfied with the updated Resource and Reserve report for the Bolivar mine and the quality of the defined areas within the Report. At Bolivar, a 20,000-meter drill program has been in execution since the latter part of 2016 with a significant portion already completed. Drilling is taking place at the Bolivar West, Bolivar Northwest and will continue at the La Sidra area. Also, a recently completed geophysical program utilizing Titan 24 techniques has targeted near-surface, coincident strong chargeability (IP) and resistivity anomalies in the Southwestern sector of the property near Bolivar West. These targets are being drilled with a diamond drilling program and subsequent exploration programs are targeted to increase tonnage and grade at Bolivar.”

“The planned suspension of milling operations at Topia was in effect throughout the entire first quarter and had an obvious impact on our overall metal production,” stated Robert Archer, President & CEO. “However, we continued mining at Topia throughout this period, and with the commissioning of the upgraded plant and the new tailings handling facility now underway, we have commenced the processing of ore stockpiled during the shutdown. This will continue through the balance of the year, such that we anticipate meeting our annual guidance.”

Endeavour CEO Bradford Cooke commented, “From a production standpoint, we are still recovering from the reduced mine development and operational challenges we faced in 2016. Our plan is to increase production throughout the year as we improve ore grade controls at El Cubo, slowly return Guanaceví to good health, optimize throughput at Bolañitos and regain access to reserves at each mine in order to achieve our production guidance.