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Sierra Metals Inc. is pleased to report the results of the updated Preliminary Economic Analysis ("PEA") for the expansion at its Yauricocha Mine operation, located in Yauyos Province in Peru. This updated PEA is based on the last reported resource, prepared by SRK and dated March 31st, 2021, and includes revised PFS level CAPEX and opex estimations.

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) ("Sierra Metals" or "the Company") is pleased to report the results of the updated Preliminary Economic Analysis ("PEA") for the expansion