Sierra Metals Subsidiary in Peru, Sociedad Minera Corona Reports Q1 2023 Financial Results

Sierra Metals Inc. (TSX: SMT) ("Sierra Metals" or "the Company") announces the filing at the Lima Stock Exchange (“BVL”) by its subsidiary, Sociedad Minera Corona S.A. ("Corona") of its unaudited Financial Statements and the Management’s Discussion and Analysis ("MD&A") for the first quarter of 2023 ("Q1 2023").

The Company holds an 81.8% interest in Corona. The unaudited Financial Statements and MD&A can be viewed at:

SMV -- Superintendencia del Mercado de Valores -- Información Financiera

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Empresa: Sociedad Minera Corona S.A. Periodo: 2023 and Trimestre I

Sierra Metals will be releasing its Q1 2023 consolidated financial results pre-market on Monday, May 15th, 2023, with management hosting a Conference Call and Webcast on the same day at 11:00 AM EDT.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. The Company has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

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

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Investor Relations Sierra Metals Inc. [phone] [e-mail]

Ernesto Balarezo CEO Sierra Metals Inc. [phone]