SIERRA METALS DISCOVERS SEVERAL WIDE, HIGH-GRADE COPPER STRUCTURES IN THE FIRST FOUR HOLES DESIGNED TO TEST TITAN GEOPHYSICAL TARGETS

Toronto, ON – October 4, 2017 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE American: SMTS) (“Sierra Metals” or “the Company”) is pleased to announce the initial results of the drilling program designed to test the anomalies of the Titan 24 Geophysical Survey recently completed on the Bolivar Property, Chihuahua, Mexico. The Titan 24 survey was completed to follow up on geophysical, geological and geochemical anomalies identified on the Bolivar Property by Sierra Metals Inc. The Bolivar Property is situated within the Piedras Verdes Mining District, which is located within the major north-northwest trending Sierra Madre Precious Metals Belt extending across the states of Chihuahua, Durango and Sonora in northwestern Mexico.

Alonso Lujan, Vice President, Exploration for Sierra Metals commented: “The Titan 24 survey highlighted over 40 specific areas of interest requiring further investigation and follow up. The 3D inversion modelling of the data provided an excellent tool for further exploration and highlights the overall structure below the deposit, in addition to similar structures and mineralization to the north of the deposit.”  He continued, “The company began the first phase of a drilling program to test the most promising anomalies and drilled the first four holes.  The results were very positive as indicated in Table 1 and 2 below and therefore the potential remains open for further exploration in these areas and the other multiple geophysical anomaly targets.”

Igor Gonzales, President and CEO of Sierra Metals stated “The results of the Titan 24 program and the subsequent assay results are exceptional and reflect a high correlation between copper mineralization and the priority targets identified in the geophysical survey.  We are excited about the prospects of drilling all the priority geophysical targets and the completion of follow-on drilling on these new discoveries.  This program aims to potentially quantify new high-grade zones which is a key strategic objective for our Bolivar mine to better define a path to future development and growth at the Bolivar operations”. He concluded, “We are encouraged by the exploration potential that these results are showing which could lead to further value growth for Sierra Metals in Mexico.”

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