Sierra Metals Announces Appointment of New CEO and President

VANCOUVER, July 24, 2014 /CNW/ - Sierra Metals Inc. (TSX:SMT)(BVL:SMT) ("Sierra Metals" or the "Company") is pleased to announce the appointment of Audra Walsh as Chief Executive Officer and President, effective July 28, 2014.

Ms. Walsh is a highly regarded mining executive with extensive experience in strategic planning, mine optimization, and management of large engineering and operating teams, including operating experience in Peru.  Ms. Walsh was the Chief Executive Officer and President of Minera SA, a privately held mining company with mining projects in South America, North America and Europe, and the controlling shareholder of Orvana Minerals Corp.  Ms. Walsh has held senior management positions at Newmont Mining Corp. and Barrick Gold Corp..  Ms. Walsh is a graduate of the South Dakota School of Mines and Technology where she earned a Bachelor of Science in Mine Engineering.

Concurrent with Ms. Walsh's appointment, Daniel Tellechea will retire as Chief Executive Officer and President of Sierra Metals.  Mr. Tellechea will continue to act as a consultant to the Company to assist with the transition and on an as-needed basis.

In making the announcement, Sierra Metals Chairman, Alberto Arias, commented: "We are very excited to have Audra join Sierra Metals as President and CEO due to her deep and proven operational expertise, strong strategic and analytical skills and outstanding leadership abilities. We are confident that Ms. Walsh will lead the company in an exciting new phase of shareholder value generation and growth for the company.  We believe that Ms. Walsh will also lead a strategy to increase the equity market awareness of our strong cash flows, solid balance sheet and exciting exploration developments at our three mines currently in commercial production."   

Mr. Arias also acknowledged Daniel Tellechea: "On behalf of the entire Board of Directors and the employees of Sierra Metals, I would also like to extend our sincere appreciation and gratitude to Daniel for his efforts and guidance over the past seven years. Daniel was instrumental in building a solid operating foundation, a talented team and a strong balance sheet and cash flows." 

Ms. Walsh commented: "It is a privilege to be asked to lead a diversified and producing natural resources company like Sierra Metals. I look forward to working closely with our Board and the Sierra employees to fully realize the potential of Sierra's assets, which are well diversified by commodity and geography."

About Sierra Metals

Sierra Metals Inc. is a Canadian mining company focused on precious and base metals from its Yauricocha Mine in Peru, its Bolivar Mine and Cusi Mine in Mexico. In addition, Sierra Metals is exploring several precious and base metal targets in Peru and Mexico. Projects in Peru include Adrico (gold), Victoria (copper-silver) and Ipillo (polymetallic) at the Yauricocha property in the province of Yauyos and the San Miguelito gold properties in Northern Peru. Projects in Mexico include Bacerac (silver) in the state of Sonora, and La Verde (gold) at the Batopilas property in the state of Chihuahua.

The Company's shares trade on the Bolsa de Valores de Lima and the Toronto Stock Exchange under the symbol "SMT".

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:

Forward-Looking Statements

Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", which involve various known and unknown risk and uncertainties and other factors, including market conditions that may affect the Company's ability to execute its current business plan.  Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.

SOURCE Sierra Metals Inc.