Sierra Metals Inc. (TSX:SMT | OTCQX:SMTSF) (“Sierra Metals” or the “Company”) is pleased to announce that it has filed its management information circular (the “Circular”) in connection with the Company's upcoming annual meeting of shareholders (the “Meeting”).

The Meeting will be held on Tuesday, June 25, 2024 at 10:00 a.m. Eastern Time (ET). The Meeting is a virtual only meeting and can be accessed via live audio webcast online at: https://web.lumiagm.com/242040275.

The Circular contains important information about the Meeting and is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at https://www.sierrametals.com/investors/Annual-General-Meeting-.

Shareholders are encouraged to vote their shares and submit proxies in advance of the Meeting to ensure their shares are represented. If you have any questions or require more information regarding the procedures for voting your shares, please refer to the “Voting Information” section of the Circular or contact Carson Proxy by North American toll free phone at 1-800-530-5189, by local phone (collect outside North America) at 416-751-2066 or by email at info@carsonproxy.com.

About Sierra Metals

Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

Forward-Looking Statements

This press release contains forward-looking information within the meaning of Canadian securities legislation including with respect to the timing of the Meeting. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading "Risk Factors" in the Company's annual information form dated March 15, 2024 for its fiscal year ended December 31, 2023 and other risks identified in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company's forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company's actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company's statements containing forward-looking information are based on the beliefs, expectations, and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management's beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact: Investor Relations Sierra Metals Inc. +1 (866) 721-7437 info@sierrametals.com

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