Sierra Madre Receives Approval for Del Toro Mine Acquisition

Sierra Madre Gold and Silver Ltd. has received approval from Mexican antitrust authorities for its previously announced agreement to acquire the Del Toro silver mine from First Majestic Silver. The company expects the transaction to close shortly.

Goodman & Company, Investment Counsel Inc., which owns and manages Sierra Madre's securities, has provided its consent for the acquisition of the Del Toro mine. The company has also secured shareholder approval for the transaction’s completion.

The Del Toro mine is located in the Mexican state of Zacatecas and has historically produced over 50 million ounces of silver. Sierra Madre anticipates that the acquisition will significantly increase the company's silver and gold production capacity.

The company also reported strong Q1 2026 financial results, including record quarterly revenues. Sierra Madre has noted positive operational performance and has been focused on strengthening its financial position, including through loan repayments.