Sierra Metals confirms receipt of further correspondence from Kolpa, ARC

Sierra Metals confirms that it has received further correspondence from Compania Minera Kolpa, Kolpa, and Arias Resource Capital Management, ARC, regarding their previously announced unsolicited, non-binding letter of intent. The Company has been pursuing both short-term financing opportunities and the strategic review process announced in Sierra’s press release dated October 18, 2022. As previously announced, CIBC Capital Markets has been engaged as financial advisor to review strategic options. Kolpa, ARC and other parties that have already expressed interest, among others, will be invited to participate and submit proposals so that they can be considered in the context of the strategic review process.