VANCOUVER, BC / ACCESSWIRE / October 19, 2021 / Sierra Madre Gold and Silver Ltd. (TSXV:SM) ("Sierra Madre" or the "Company") is pleased to announce the results of the first 11 trenches at its Tepic Silver Gold project located in the State of Nayarit, Mexico. The first phase of the trenching program has been increased to 5,000 meters, from 2,700 metres which was announced on June, 18 2021. Press Release Highlights of the results received thus far include TZ005 with 10.5 meters grading 91 g/t AgEq, TZ011 with 10.1 meters grading 119 g/t AgEq and TZ011A with 9.2 meters grading 543 g/t AgEq. Sierra Madre is currently sampling trench 33 and the following tabulates the results of the first 11 trenches.

Notes:

1. Bolded rows indicate the trench starts and/or ends in mineralization
2. Intervals reported are Trench lengths with true width estimated to be 70 - 90%
3. Length-weighted averages from uncut assays
4. Intervals reported at a 30 g/t AgEq * cutoff
5. *Gold silver ratio used to calculate AgEq is 75 g/t Ag to 1 g/t Au

Luis Saenz Sierra Madres Director of Exploration and Development observes, "The widths of some of the mineralized trench intervals highlight the potential to develop bulk tonnage type deposits which may be amenable to near surface open cut mining. The fact that the trenches are returning silver and gold values outside of the previously mapped vein and breccia structures and revealing the presence of multiple secondary mineralized structures, gives us new targets and increases the potential of the Tepic project".

Trenches are excavated by hand or use road cut exposures where possible. Portable rock saws are used to cut continuous channels in order to produce a sample comparable to that obtained by core or reverse circulation drilling. Individual sample lengths range from 0.5 to 2.6 meters and are generally between 1 and 1.5 meters in length. The head of the trenches are either located with precision GPS equipment or surveyed from a previously establish control point. The azimuth and inclination of the trenches are then surveyed using compass and chain methods.

Sierra Madre Gold and Silver Best Practice

Sierra Madre is committed to best practice standards for all exploration and sampling activities. The Company's exploration programs have been conducted following CIM Exploration Best Practice Guidelines which are incorporated by reference in NI 43-101. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Bureau Veritas Lab located in Durango, Mexico for 30 gram gold fire assay and multi-element analyses by acid digestion.

Qualified Person

Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.

About the Company

Sierra Madre Gold and Silver Ltd. is a mineral exploration company, currently focused on the acquisition, exploration and development of the Tepic and La Tigra Properties in Nayarit, Mexico. The Company has an experienced management team with a proven track record of wealth creation in Mexico through project discovery, advancement, and monetization. Sierra Madre's key objective is to advance exploration on the Tepic and La Tigra Properties to determine whether they contain commercially exploitable deposits of precious or base metals.

On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,

"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director

Contact:

investor@sierramadregoldandsilver.com

Cautionary Note

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect plans for the La Tigra property, including the prospect of preparing a technical report containing a mineral resource estimate. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the La Tigra Property may not yield the results expected and the general risk factors related to exploration and development as are set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE: Sierra Madre Gold and Silver