Sierra Minerals Inc.
TSX : SIM

Sierra Minerals Inc.

March 10, 2008 18:37 ET

Sierra Minerals Extends Expiry Date of Warrants

TORONTO, ONTARIO--(Marketwire - March 10, 2008) - Sierra Minerals Inc. ("Sierra" or the "Company") (TSX:SIM) announces its intention to extend the term of 1,546,723 outstanding warrants (the "Warrants") of the Company, which were issued in connection with the Company's September 2006 private placement financing. Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.50 until March 15, 2008. Subject to the approval of the Toronto Stock Exchange, the Warrants will be amended, effective March 25, 2008, to extend the term of such warrants until September 15, 2008. All other provisions of the Warrants will remain unamended.

There are 151,000 warrants that expire on March 15, 2008, which are held by officers or directors of the Company; the expiry date of these warrants will not be extended.

FORWARD-LOOKING STATEMENTS

This press release includes certain "forward-looking information" within the meaning of the Securities Act (Ontario), including, but not limited to, statements as to timing and extent of exploration programs, the availability of exploration results and the extent of future production from the Cerro Colorado Mine. As such, forward-looking information addresses future events and conditions and so involves inherent risks and uncertainties, as disclosed under the heading "Risk Factors" and elsewhere in Sierra documents filed from time to time with the Ontario Securities Commission and other regulatory authorities. Actual results could differ significantly from those currently projected as a result of, among those factors, adverse weather, regulatory changes, delays in receiving permits, accidents, delays in completing exploration activities and results of exploration activities, not all of which are in the control of Sierra. The forward-looking information contained herein is Sierra's reasonable estimate today of future events and conditions, but no assurance can be given that such events or conditions will occur.

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