Sierra Madre Appoints La Guitarra Mine General Manager, Grants Incentive Options

Sierra Madre Gold and Silver Ltd. has appointed Jose Francisco Correa Robles as General Manager of the La Guitarra Silver-Gold Mine and Mill Complex located in the State of Mexico, Mexico. The company also announced the issuance of incentive stock options to employees, advisors, and consultants associated with the La Guitarra operation.

Correa brings over 23 years of experience in underground mining operations. He has held various leadership roles at the La Guitarra mine previously, including Head Planning Engineer, Mining Superintendent, and Operations Manager. He also served as General Manager of La Guitarra in 2013 and 2015.

Gregory K. Liller, Sierra Madre's Chief Operating Officer and Executive Chairman, expressed satisfaction with Correa's appointment, noting his long and positive history with the mine's operations, employees, and the local community.

In addition, Sierra Madre announced the granting of 7,350,000 stock options to 60 employees, directors, and consultants to purchase company shares at $0.50 per share. These options vest over a five-year period, with portions vesting immediately, six months, and twelve months after the grant date. A separate grant of 225,000 options was made to a consultant.

Sierra Madre Gold and Silver Ltd. is focused on evaluating the potential for restarting the La Guitarra Mine and exploring its Tepic property in Mexico. La Guitarra is a permitted, past-producing underground mine with a 500 tonne per day processing facility that operated until mid-2018.