SIERRA MADRE TO ACQUIRE THE LA GUITARRA SILVER-GOLD MINE IN MEXICO FROM FIRST MAJESTIC SILVER CORP

Vancouver, British Columbia – May 25, 2022 – Sierra Madre Gold and Silver Ltd. (TSXV: SM, OTCQB: SMDRF) (“Sierra Madre” or the “Company”) is pleased to announce that it has signed an arm’s length definitive agreement dated May 25, 2022 (the “Definitive Agreement”) with First Majestic Silver Corp. (“First Majestic”) to acquire a 100% interest in the 39,714-hectare La Guitarra Silver-Gold Property (“La Guitarra”) in the Temascaltepec mining district, Mexico (the “Transaction”).

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