Day: March 17, 2020

Igor Gonzales, President, and CEO of Sierra Metals, commented, “We take the safety of our employees very seriously and have complied with the Government’s requests. We have sent 470 staff home from the Mine, while an emergency staff of 150 remain at the site. Management continues to follow the recommendations provided by the World Health Organization and Peruvian Health Authorities. We continue to monitor and seek clarity on the situation and will update shareholders and the Market further as things progress.”

“Social distancing and health education play a key role in our effort to protect employees and surrounding communities. At the corporate office, we have taken the pragmatic action of having employees work from home. At the operation, we have stopped international travelers from coming to site. Social distancing efforts at site are being implemented, which includes isolating delivery drivers. Aggressive cleaning of communal areas has also been ramped up. Education initiatives on infection prevention have been extended to the surrounding communities.

The Company intends to use the net proceeds of the Offering (i) to fund development and exploration expenditures at the Juanicipio Project and (ii) for working capital and general corporate purposes.