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SIERRA METALS REPORTS FIRST QUARTER 2015 PRODUCTION RESULTS
WITH RECORD OUTPUT AT ITS THREE MINES
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Vancouver, BC – April 14, 2015 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (“Sierra
Metals” or “the Company”) reports production for the first quarter ended March 31, 2015 (“Q1
2015”) from its three underground mines in Latin America, the Yauricocha polymetallic mine
in Peru and the Bolivar copper and Cusi silver mines in Mexico.

First Quarter Production Highlights

• Total tonnes processed of 472,407; a 13% increase over Q1 2014; a new Company
record
• Silver production of 899,691 ounces; a 24% increase over Q1 2014; a new Company
record
• Copper production of 6.5 million pounds; a 13% increase over Q1 2014
• Lead production of 12.1 million pounds; consistent with Q1 2014
• Zinc production of 10.5 million pounds; an 18% decrease from Q1 2014
• Gold production of 2,661 ounces; a 7% increase over Q1 2014
• Silver equivalent production of 3.1 million ounces; a 6% increase over Q1 2014; a new
Company record
Ed Guimaraes, Chief Financial Officer of Sierra Metals, commented: "The Company delivered
continued production growth during the first quarter, setting new records for total silver
production of 899,691 ounces and ore throughput. The record silver production resulted from
increases in silver head grades and recoveries and plant throughput at our Yauricocha Mine
in Peru, combined with the increase in silver head grades and new plant throughput records
at our Cusi and Bolivar mines in Mexico. The continued ramp-up at Bolivar, and the connection
of the new power line on the 10th of March contributed to the highest quarterly metal production
ever achieved at this mine. The quality of our assets will enable us to continue on path towards
meeting or exceeding 2015 production guidance and plan for future brownfield expansions.”

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