Vancouver, BC – October 14, 2014 – Sierra Metals Inc. (TSX:SMT) (BVL:SMT) (“Sierra Metals” or the “Company”) is pleased to announce that Audra Walsh has joined the Company's Board of Directors effective October 14, 2014. Ms. Walsh replaced Daniel Tellechea as the Company’s President and CEO on July 28, 2014 and is now replacing Mr. Tellechea on the Board of Directors. Mr. Tellechea has retired after serving as President, CEO and a Director of the Company since 2007.

Ms. Walsh is a highly regarded mining executive with extensive experience in strategic planning, mine optimization, and management of large engineering and operating teams, including operating experience in Peru.  Ms. Walsh is currently on the Board of Directors of Orvana Minerals Corp. Prior to joining Sierra, she was the CEO and President of Minera SA, a privately-held mining company with mining projects in South America, North America and Europe.  Ms. Walsh has held senior management positions at Newmont Mining Corporation and Barrick Gold Corporation.  Ms. Walsh is a graduate of the South Dakota School of Mines and Technology where she earned a Bachelor of Science in Mine Engineering.

"We are very pleased to welcome Audra to the Sierra Metals Board of Directors. Her leadership experience and operational expertise will make her a valuable contributor to Sierra's Board as we continue to grow our business," commented J. Alberto Arias, Chair of the Company's Board of Directors. "On behalf of Sierra Metals and the Board, I also wish to recognize Daniel for his service as a Director and thank him for the valuable contributions he has made to Sierra Metals during that time."

About Sierra Metals

Sierra Metals Inc. is a Canadian mining company focused on precious and base metals from its Yauricocha Mine in Peru, its Bolivar Mine and Cusi Mine in Mexico. In addition, Sierra Metals is exploring several precious and base metal targets in Peru and Mexico. Projects in Peru include Adrico (gold), Victoria (copper-silver) and Ipillo (polymetallic) at the Yauricocha Property in the province of Yauyos and the San Miguelito gold properties in Northern Peru. Projects in Mexico include Bacerac (silver) in the state of Sonora, and La Verde (gold) at the Batopilas Property in the state of Chihuahua.

The Company’s shares trade on the Bolsa de Valores de Lima and the Toronto Stock Exchange under the symbol “SMT”.

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:

Forward-Looking Statements

Except for statements of historical fact contained herein, the information in this press release may constitute “forward-looking information” within the meaning of Canadian securities law. Other than statements of historical fact, all statements are “forward-looking statements”, which involve various known and unknown risk and uncertainties and other factors, including market conditions that may affect the Company’s ability to execute its current business plan.  Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.