Year: 2022

“Given the challenges presented by both the continued effect of the pandemic and more recent Government labour reform initiatives, as well as certain operational issues, we have delivered a creditable performance during the year, with silver production marginally short of guidance, but gold production exceeding expectations. This performance highlights the strength of our diversified portfolio and the capability of our people.”

The drill program is expected to comprise up to 2,000 metres in 6 to 9 holes.

Mr. Sean Roosen, Chair and Chief Executive Officer of Osisko Development commented: “The proposed acquisition of Tintic further accelerates Osisko Development on its path towards becoming a mid-tier gold miner and represents a unique opportunity to significantly enhance our portfolio of operations by adding a high-grade producing asset in a world-class jurisdiction.”

N. Eric Fier, CPG, P.Eng, and CEO, stated, “2021 marked an extraordinary year of efforts from our team and contractors in Mexico and Canada. The progress made throughout the year has positioned us well for Las Chispas start-up in Q2, 2022.”

“We continue to advance toward becoming a million-ounce producer by investing in our producing assets and bringing new mines to production.”

“I am pleased to report Q4 2021 preliminary production, C1 Cash Costs and AISC from Altaley’s Campo Morado Mine,” states Ralph Shearing, CEO & President. “Campo Morado operations are reporting another excellent quarter with estimated net revenue for Q4 2021 of $19.9 million.”

Luis Marchese, CEO of Sierra Metals, commented:“2021 has been quite a difficult year for the company. Declining grades were coupled with unprecedented COVID-related operational difficulties at our three operations. For 2022, although Cusi and Yauricocha are approaching normalized operations and staffing, Bolivar needs to accelerate infill drilling and mine development in order to increase the availability of ore during the first six months of 2022.”