Sierra Minerals Inc.
TSX : SIM

Sierra Minerals Inc.

June 08, 2007 15:44 ET

Sierra Provides Status Report

TORONTO, ONTARIO--(Marketwire - June 8, 2007) - Sierra Minerals Inc. ("Sierra" or the "Company") (TSX:SIM) provides this status update pursuant to the alternative information guidelines of the Ontario Securities Commission as set out in Canadian Securities Administrators Staff Notice 57-301. These guidelines contemplate that Sierra will normally provide bi-weekly updates on its affairs until such time as the Company is current with its filing obligations under Canadian securities laws.

Subsequent to Sierra's last status update of May 25, 2007 there has not been any further default. As had been previously indicated, on May 28, 2007 Sierra filed its audited annual financial statements for the period ending December 31, 2006 together with management discussion and analysis and annual information report for such fiscal period. Due to certain factors including an armed robbery which recently occurred at the Company's Cerro Colorado mine (see press release dated June 6, 2007) and the late filing of Sierra's year end audited financial statements, Sierra currently anticipates that it will be able to file its quarterly financial statements and accompanying management discussion and analysis for the period ending March 31, 2007 in the next two weeks.

About Sierra

Sierra is a precious metals producing company focused on acquiring and developing advanced stage gold and silver deposits that have a likelihood of realizing near-term production. The Company's primary focus is Mexico although it is actively reviewing opportunities throughout the Americas. Sierra is committed to company-wide environmental and corporate social responsibility best practices.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Sierra believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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