Sierra Madre Gold and Silver Ltd. Adds Second Drill Rig at the Tepic Project, Nayarit, Mexico

Vancouver, British Columbia – March 3, 2022 – Sierra Madre Gold and Silver Ltd. (TSXV: SM, OTCQB: SMDRF) (“Sierra Madre” or the “Company”) is pleased to announce that a second core rig has been mobilized to its Tepic Silver Gold Project, located in Nayarit, Mexico. This second rig is smaller and more portable than the first while maintaining the depth capacity and large core diameter that the Company requires. The decision to mobilize a second rig is a result of the success of the trenching program which has identified several additional drill targets and the superior assay turnaround time at the current laboratory.

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