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 Corporation and Barrick Gold
Corporation. 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.