SIERRA METALS REPORTS CONSOLIDATED RESULTS FOR THE FIRST QUARTER OF 2017

http://www.sierrametals.com/investors/news-releases/press-release-details/2017/Sierra-Metals-Reports-Consolidated-Results-for-the-First-Quarter-of-2017/default.aspx

TORONTO, May 11, 2017 /PRNewswire/ – Sierra Metals Inc. (TSX:SMT)(BVL:SMT) (“Sierra Metals” or the “Company”) today reported revenue of $54.5 million and adjusted EBITDA of $25.4 million on throughput of 529,695 tonnes and metal production of 3.1 million silver equivalent ounces or 26.1 million copper equivalent pounds for the three month period ended March 31, 2017.

Sierra Metals had a third consecutive exceptional quarter of operational and financial results, aided by stable metal prices and continued production improvements at the Yauricocha Mine. During the first quarter, the Company continued to build upon the revenue and adjusted EBITDA realized during the previous quarter. This was largely attributed to the continued benefits being realized from the completion of key aspects of the operational improvements program at Yauricocha. The Company achieved excellent quarter over quarter improvements in the first quarter with revenues up 130%, adjusted EBITDA up by $21.0 million, and a decline in the consolidated all-in sustaining cost (ASIC) per silver equivalent payable ounce and copper payable pound.

During Q1 2017, consolidated metal production increased 28% compared to Q1 2016. The increase in metal production was due to higher throughput; higher silver, copper and zinc head grades as well as higher recoveries for all metals (except gold) at Yauricocha.  Additionally, the Company saw higher throughput and recoveries of all metals at Bolivar but this was partially offset by lower throughput, head grades and recoveries of all metals at Cusi.

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