TORONTO, Nov. 9, 2017 /CNW/ - Sierra Metals Inc.
(TSX: SMT) (NYSE American: SMTS) (BVL: SMT) ("Sierra Metals" or the
"Company") is pleased to announce the appointment of Mr.
Jose Alberto Vizquerra-Benavides to
its Board of Directors effective immediately. Mr. Vizquerra
will also join the Sierra Metals Audit Committee effective
immediately replacing Igor Gonzales
who is stepping down from the Audit Committee.
Mr. Vizquerra is currently the Executive Vice President of
Strategic Development and a Director at Osisko Mining Inc.
Previously, Mr. Vizquerra served as the President & CEO of Oban
Mining Corp. ("Oban"), where he led the successful change of
business strategy that resulted in Oban's acquisition of
Corona Gold, Eagle Hill Exploration
Corp. and Ryan Gold to form what is
now Osisko Mining. Mr. Vizquerra previously worked as Head of
Business Development for Compania de Minas Buenaventura, prior to
which he worked as a production and exploration geologist at the
Red Lake gold mine. He is
currently a board member of Alio Gold Inc. Mr. Vizquerra holds a
M.Sc. from Queens University in MINEX,
and is a Qualified Person (AIGP).
J. Alberto Arias, Chairman of
Sierra Metals, commented: "We are extremely pleased to have Jose
join Sierra Metals Board of Directors. Jose's experience in
Canadian and Latin American Mining Industries makes him a valuable
addition to our board. We believe that Jose's knowledge
contribution will help Sierra Metals realize the considerable
growth and strategic opportunities that the Company currently has
available at all of its properties."
About Sierra Metals
Sierra Metals Inc. is a Canadian-based growing polymetallic
mining company with production from its Yauricocha Mine in
Peru, and its Bolivar and
Cusi Mines in Mexico. The Company is focused on increasing
production volume and growing mineral resources. Sierra Metals has
recently had several new discoveries and still has additional
brownfield exploration opportunities at all three mines in
Peru and Mexico that are within or close proximity to
the existing mines. Additionally, the Company has large land
packages at all three mines with several prospective regional
targets providing longer term exploration upside and mineral
resource growth potential.
The Company's Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock
Exchange under the symbol "SMT" and on the NYSE American Exchange
under the symbol "SMTS".
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Forward-Looking Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of Canadian and
U.S. securities laws related to the Company (collectively,
"forward-looking information"). Forward-looking information
includes, but is not limited to, statements with respect to the
Company's operations, including anticipated developments in the
Company's operations in future periods, the Company's planned
exploration activities, the adequacy of the Company's financial
resources, and other events or conditions that may occur in the
future. Statements concerning mineral reserve and resource
estimates may also be considered to constitute forward-looking
statements to the extent that they involve estimates of the
mineralization that will be encountered if and when the properties
are developed or further developed. These statements relate to
analyses and other information that are based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"assumes", "intends", "strategy", "goals", "objectives",
"potential" or variations thereof, or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking information.
Forward-looking information is subject to a variety of risks and
uncertainties, which could cause actual events or results to differ
from those reflected in the forward-looking information, including,
without limitation, risks inherent in the mining industry including
environmental hazards, industrial accidents, unusual or unexpected
geological formations, floods, labour disruptions, explosions,
cave-ins, weather conditions and criminal activity; commodity price
fluctuations; higher operating and/or capital costs; lack of
available infrastructure; the possibility that future exploration,
development or mining results will not be consistent with the
Company's expectations; risks associated with the estimation of
mineral resources and the geology, grade and continuity of mineral
deposits and the inability to replace reserves; fluctuations in the
price of commodities used in the Company's operations; risks
related to foreign operations; changes in laws or policies, foreign
taxation, delays or the inability to obtain necessary governmental
permits; risks relating to outstanding borrowings; issues regarding
title to the Company's properties; risks related to environmental
regulation; litigation risks; risks related to uninsured hazards;
the impact of competition; volatility in the price of the Company's
securities; global financial risks; inability to attract or retain
qualified employees; potential conflicts of interest; risks related
to a controlling group of shareholders; dependence on third
parties; differences in U.S. and Canadian reporting of mineral
reserves and resources; potential dilutive transactions; foreign
currency risks; risks related to business cycles; liquidity risks;
reliance on internal control systems; credit risks, including risks
related to the Company's compliance with covenants with respect to
its BCP Facility; uncertainty of production and cost estimates for
the Yauricocha Mine, the Bolivar Mine and the Cusi Mine; and other
risks identified in the Company's filings with Canadian securities
regulators and the U.S. Securities and Exchange Commission, which
filings are available at www.sedar.com and www.sec.gov,
respectively.
This list is not exhaustive of the factors that may affect any
of the Company's forward-looking information. Forward looking
information includes statements about the future and are inherently
uncertain, and the Company's actual achievements or other future
events or conditions may differ materially from those reflected in
the forward-looking information due to a variety of risks,
uncertainties and other factors. The Company's statements
containing forward-looking information are based on the beliefs,
expectations and opinions of management on the date the statements
are made, and the Company does not assume any obligation to update
forward-looking information if circumstances or management's
beliefs, expectations or opinions should change, other than as
required by applicable law. For the reasons set forth above, one
should not place undue reliance on forward-looking information.
Note Regarding Reserve and Resource Estimates
All reserve and resource estimates reported by the Company are
calculated in accordance with the Canadian National Instrument
43-101 - Standards of Disclosure for Mineral Projects
and Canadian Institute of Mining and Metallurgy Classification
system. These standards differ significantly from the requirements
of the SEC. The differences between these standards are discussed
in our SEC filings. Mineral resources which are not mineral
reserves do not have demonstrated economic viability.
SOURCE Sierra Metals Inc.