First Cobalt Intersects High Grade Cobalt at Bellellen

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – https://www.youtube.com/…) today announced positive drill results from the historic Bellellen mine in the Cobalt Camp, Ontario. These early results confirm the presence of high grade cobalt and nickel along the known Bellellen vein system south of the historic mine workings.
Highlights
• 2.0 metres of 0.78% Co and 0.83% Ni, including 1.1 metres of 1.35% Co and 1.47% Ni along the Bellellen Vein system that extends for approximately 300 metres of strike length
• Several calcite veins and disseminated zones of mineralization have been intersected
• Assays pending for additional 12 holes drilled as part of the 1,100m program at Bellellen
• Further support to the thesis of metal zoning of cobalt-nickel rich versus silver rich areas within a single hydrothermal system; a relationship seen elsewhere in the Camp

Trent Mell, President & Chief Executive Officer, commented:
“First assays from Bellellen drilling confirm the grades found in muckpile material sampled in 2017 and support our view that we now have a third area of interest in the Cobalt Camp. The Bellellen structure has adequate strike length to remain a priority target. Our 2018 drill strategy is to test several new target areas to confirm the cobalt grades of known systems throughout the Camp and then focus on those of sufficient size to support large tonnage operations.”

Drilling at Bellellen began in January 2018 with 13 holes completed for over 1,100 metres. The program was intended to confirm the presence of cobalt-nickel mineralization away from historic mining and to identify the distribution of both vein-style and disseminated-style mineralization previously sampled from underground material.

Drill holes targeted the north-south trending Bellellen Vein and the northeast trending Frontier 2 Vein (Figure 1). In places, two holes were collared at the same location with different dip orientation to determine the direction of the veins.

Assays have been received from hole FCC-18-0007, returning 2.0m of 0.78% Co and 0.83% Ni, including 1.1m of 1.35% Co and 1.47% Ni. The mineralized intercept was about 20m from surface in a zone containing several veins (Figure 2). The highest grade of 2.40% Co over 0.3m represents visible cobalt minerals that also likely contain nickel. Anomalous cobalt (>0.05%) occurs within wallrocks on the margins of the high grade zone without visible veining. Fine disseminated cobalt minerals are likely present. Silver is relatively low suggesting the Bellellen area may represent a cobalt-nickel rich zonation in proximity to the silver-rich vein system at Keeley-Frontier.

Table 1. Summary of assay results from hole FCC-18-0007
From To Width Co Ag Ni
Sample ID – m – m – m – % – g/t – %
E6607467 – 26.2 – 26.5 – 0.3 – 0.05 – 2 – 0.03
E6607468 – 26.5 – 26.8 – 0.3 – 0.73 – 1 – 1.26
E6607469 – 26.8 – 27.3 – 0.5 – 1.11 – 3 – 1.78
E6607470 – 27.3 – 27.6 – 0.3 – 2.40 – 2 – 1.18
E6607472 – 27.6 – 28.2 – 0.6 – 0.05 – 4 – 0.02
average – 26.2 – 28.2 – 2.0 – 0.78 – 3 – 0.83
including – 26.5 – 27.6 – 1.1 – 1.35 – 2 – 1.47

Note: Lengths are measured along the drill core and true widths of mineralization are not known at this time.
Several holes in this program intersected carbonate veins containing cobalt-nickel minerals as well as pyrite, pyrrhotite and chalcopyrite. In some holes tight folding of the volcanic rocks is evident and the Nipissing Diabase appears to be deeper than expected from bedrock mapping. The overall structural interpretation of the Bellellen area is ongoing to determine if these high grade cobalt-nickel veins are locally concentrated where folds converge.

Figure 1. Bedrock geology and location of drilling stations in the 2017 drilling program. Silver-cobalt veins shown are compiled from historic maps and locations shown not be considered exact.
Cobalt-bearing minerals in hole FCC-18-0007 occur as discrete bands associated with small, centimetre-sized calcite veins occurring within chloritized mafic volcanic rocks. Disseminated pyrite and arsenopyrite occur in the wallrocks of the veins. Arsenopyrite is associated with anomalous cobalt. The hole was collared over 150m south of the main Bellellen mine shaft. Drill holes FCC-18-0008 and FCC-18-0013 were drilled to test the dip extension of the cobalt mineralization in FCC-18-0007. Disseminated pyrite and arsenopyrite as well as calcite veins have also been noted in these holes.

Elsewhere in the Cobalt Camp at the Silverfields mine, high cobalt-nickel mineralization occurs along the margin of high grade silver veins, defining an extensive system. Silverfields produced approximately 18 million ounces of silver and was one of the largest producers, with over one million tonnes milled, in the Cobalt Camp.

Figure 2. East-west geologic cross section of FCC-18-0007 and nearby drill holes. The section is 40m thick. Grid blocks are 50m by 50m. Easting co-ordinates are in UTM NAD83 Zone 17 co-ordinate system.
For a table of drill hole assay results to date, visit https://firstcobalt.com/….

Bellellen Mine
Mining at Bellellen mine began in 1909 around the same time the Haileybury, Frontier and Keeley mines began operations. The Bellellen mine contained high cobalt content relative to silver, thus it struggled to be economically viable in a silver mining era. Bellellen had intermittent production until 1943, when 12.3 tons of ore were shipped containing 9.25% Co and 11.55% Ni.
At Bellellen, the Nipissing Diabase has been interpreted at a depth of 125 metres below surface within a fold hinge. Between surface and the diabase, a thick sequence of mafic volcanic rocks occurs, suggesting depth potential to the known Co-Ag mineralization may exist in this area.

Samples from surface muckpiles at Bellellen returned high values of Co coincident with Ag, Ni and Cu in various styles of mineralization (see September 28, 2017 press release). Mineralogy work on disseminated style mineralization found Co as glaucodot (Co,Fe)AsS as well as Co-bearing pyrite (see October 5, 2017 press release). This style of mineralization had not previously been recognized in the Cobalt Camp and suggests a broad hydrothermal system may be present at Bellellen.
Quality Assurance and Quality Control

First Cobalt has implemented a quality-control program to comply with common industry best practices for sampling and analyses. Samples are collected from drill core from a range of 30 to 100cm length. Half-core samples are submitted for analyses. Standards and blanks are inserted every 20 samples. Duplicates are made from quarter core splits every 20 samples. Geochemical data were received from SGS Canada in Lakefield, Ontario, Canada. No QA/QC issues have been noted. SGS has used a sodium-peroxide fusion and ICP finish for analyses on all samples. Over-range (> 1%) Co and Ni are determined by a separate fusion and ICP finish.
Qualified and Competent Person Statement

Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt
First Cobalt is the largest land owner in the Cobalt Camp in Ontario, Canada. The Company controls over 10,000 hectares of prospective land and 50 historic mines as well as a mill and the only permitted cobalt refinery in North America capable of producing battery materials. First Cobalt began drilling in the Cobalt Camp in 2017 and seeks to build shareholder value through new discovery and growth opportunities.

On behalf of First Cobalt Corp.
Trent Mell
President & Chief Executive Officer
For more information visit www.firstcobalt.com or contact:
Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891
In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects‘, "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and risks set out in First Cobalt’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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Uranium Energy Corp Acquires the Diabase Project in the Athabasca Basin and Appoints Darcy Hirsekorn as District Geologist

Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC” – https://www.youtube.com/…) is pleased to announce that the Company has closed a definitive Property Purchase Agreement (the “Agreement”), with Nuinsco Resources Limited (“Nuinsco”) to acquire 100% of the Diabase project (the “Diabase Project” or “Project”) located on the south rim of the Athabasca Basin uranium district in Saskatchewan, Canada.

Acquisition Highlights
• Total consideration for the acquisition is approximately $500,000 comprised of $240,000 in cash and 164,767 shares (at a deemed issuance price of $1.60 per common share).
• The property has seen in excess of US$ 20 million in historical exploration work, including over 21,000 meters of diamond drilling, geophysical surveying and surficial sampling data.
• The Project delivers a significant land package of 21,949 hectares, which overlies a highly prospective regional corridor within 75 km of Cameco’s Key Lake mill in a stable and leading jurisdiction for uranium exploration and mining.
• Efficient acquisition that preserves balance sheet flexibility in the bottom of the uranium cycle at less than 0.1% dilution to current UEC shareholders.
Clyde Yancey, VP-Exploration, stated: “Our acquisition strategy focuses on low cost, high value projects, the Diabase project is consistent with those objectives and UEC gains an opportunistic foothold in the Athabasca Basin. The project is an excellent addition to our pipeline of exploration properties for future development in a premier uranium district. We are also pleased to welcome Darcy Hirsekorn and his two decades of Athabasca Basin exploration experience to the Company’s geological team.”

Acquisition Details
UEC has now acquired the Diabase Project from Nuinsco for US$ 500,000 in aggregate consideration consisting of approximately: (i) US$ 240,000 in cash paid to Nuinsco and (ii) the issuance of 139,418 common shares to Nuinsco and 25,349 common shares to the original Project property owner.

Diabase Project Overview
The Diabase Project is a large exploration project 75 km west of Cameco’s Key Lake mill on the southern rim of Saskatchewan’s Athabasca Basin uranium district. The Project covers 21,949 hectares in ten claim blocks. Project work completed to date includes 67 diamond drill holes, regional electromagnetic, magnetic and gravity geophysical surveys, and surficial geochemistry. The Project covers a significant portion of the Cable Bay fault, a highly prospective regional-scale shear corridor.

About Darcy Hirsekorn, P.Geo.
Darcy is a seasoned professional geoscientist with over 20 years of experience in the exploration field working with Cameco Corporation. Darcy held increasingly senior roles with the company culminating in the position of District Geologist in 2016. He was part of an exploration group that outlined over 200 million pounds of uranium resources including involvement with the Millennium, Fox Lake, Eagle Point, and Tamarack deposits. Darcy brings a strong technical toolkit in all stages and aspects of exploration in diverse environments and geological settings. He is active in the mining and exploration industry, having sat on the board of the Nunavut/NWT Chamber of Mines, the executive of the local Canadian Institute of Mining Geological Section, and is currently a member of the Environment and Sustainability Committee for the Saskatchewan Association of Professional Engineers and Geoscientists of Saskatchewan. He earned his Bachelor’s degree in Geology from the University of Saskatchewan.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and was approved by Darcy Hirsekorn, P.Geo., District Geologist for the Company, a Qualified Person under NI 43-101.

About Uranium Energy Corp
Uranium Energy Corp is a U.S.-based uranium mining and exploration company. The Company’s fully-licensed Hobson Processing Facility is central to all of its projects in South Texas, including the Palangana ISR mine, the permitted Goliad ISR project and the development-stage Burke Hollow ISR project. In Wyoming, UEC controls the permitted Reno Creek ISR project. Additionally, the Company controls a pipeline of advanced-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay, and a large, high-grade titanium project in Paraguay. The Company’s operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE American: UEC
Frankfurt Stock Exchange Symbol: U6Z
WKN: AØJDRR
ISN: US916896103

Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. 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 other 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” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release.

Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company’s filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

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Electricity self-supply with biogas

The PlanET Biogas Group in cooperation with local workers has constructed and commissioned a biogas plant within only 129 days on the Philippines. Since December 2017, the plant is producing biogas. This pilot project shows how successful international cooperation looks like.

Vreden, 16.01.2018: A new biogas plant popped up on the Philippines in 2017. The agricultural business of "Wellisa Farm Corp" is on the island Bantayan has about 200,000 layer and 800 fattening hogs incl. breeding. Napier grass will be used in the future in addition to today’s input of chicken manure and hog slurry to use the plant’s full capacity.

The island-wide electricity supply by a diesel power station results in high delivery costs and the switch-on of big machineries like the farm’s feeding mill can cause complete shut-downs. Therefore, Wellisa’s newly rely on its PlanET biogas plant not only reduces the delivery costs and increases the farm’s operational safety, but also minimises the livestock’s endangerment.

The plant’s basis work started in January 2017 with the concrete tank construction. Local workers built the two tanks with 30m diameter and 8m heights in close cooperation with PlanET. Weekly online meetings and local visits of experts at certain milestones ensured the high quality and the adherence to the static requirements. After the concrete work’s successful completion, the plant’s finalisation just took 129 days, thanks to the great cooperation of the local staff and the on-site supervision by PlanET experts. Of course, the commissioning went hand in hand with a biological operator’s training so that the handover took place in November and the gas production started in the following month.

The reliable and cost-efficient electricity production from biogas is now benefitting Wellisa’s general operation as well as the whole island’s grid stability. Additionally, the use of animal by-products in a biogas plant reduces the CO2 emissions and minimises the local odours. This shows once more how the green technology can contribute to the climate protection.

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Klondex Announces New Open Pit Mineral Resource Estimate at Fire Creek

Vancouver, BC – December 21, 2017– Klondex Mines Ltd. (TSX: KDX; NYSE American: KLDX) (“Klondex” or the “Company” – http://www.commodity-tv.net/…) is pleased to provide an initial open pit Mineral Resource estimate for its Fire Creek mine (“Fire Creek”) located in northern Nevada, USA, which incorporates the results from the 2017 open pit surface and underground exploration drill programs. This Mineral Resource estimate is in addition to the Company’s previously announced underground Mineral Resources. Klondex plans to provide a complete Mineral Reserve and Resource update, for all sites, during the first quarter of 2018.

Fire Creek Open Pit Mineral Resource Highlights: (See Table 1 and Figures 1-3)
• Total Indicated Mineral Resource estimate of 42.9M tons grading 0.026 AuEq opt (0.88 AuEq g/t) for a total of 1.1M AuEq ounces
• Total Inferred Mineral Resource estimate of 31.7M tons grading 0.035 AuEq opt (1.19 AuEq g/t) for a total of 1.1M AuEq ounces
• This initial Mineral Resource estimate excludes all underground Mineral Resources reported at Fire Creek, however there is potential to mine relatively higher grade underground resources, outside the underground mine plan, from surface
• The open pit mineralization is open to the north, south and west
• The Company will remain focused on mining and further delineating the high grade underground veins while looking for strategic alternatives to advance and develop the bulk tonnage open pit Mineral Resource

Table 1: Fire Creek Open Pit Mineral Resource Estimate
Category Tons (M) Au opt Au g/t Ag opt Ag g/t AuEq opt AuEq g/t Au
Moz Ag
Moz AuEq Moz
Indicated 42.9 0.025 0.87 0.055 1.88 0.026 0.88 1.093 2.350 1.105
Inferred 31.7 0.034 1.17 0.091 3.12 0.035 1.19 1.085 2.882 1.101
1. Mineral resources are calculated at a gold price of US$1,400 per ounce and a silver price of US$19.83 per ounce.
2. Metallurgical recoveries for gold and silver are 65% and 30%, respectively for oxide mineralization and 60% and 25% respectively for mixed mineralization.
3. One ounce of gold is equivalent to 183.53 ounces of silver.
4. Mineral Resources include 10% dilution and 5% mining losses.
5. Cut off grades for the Mineral Resources are 0.01opt AuEq.
6. The effective date for the Mineral Resource is November 30, 2017.
7. Mineral Resources which are not Mineral Reserves have not yet demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
8. The quantity and grade of reported Inferred Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
9. The Mineral Resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.

Mr. Paul Huet, President and CEO, commented, “The results of this initial open pit drill program are extremely exciting for Klondex. We believe that the addition of these open pit mineral resources has the potential to significantly extend Fire Creek’s mine life.” Mr. Huet continued, “Fire Creek continues to demonstrate it is a world-class property and we now have data suggesting the underground and open pit potential is robust with the possibility for these resources to significantly expand with our continued district exploration programs. We will continue to maximize the full value of this asset for our shareholders. Management will continue to focus our efforts on the higher grade, underground mineralization while exploring and evaluating strategic alternatives to advance and develop the open pit potential of this asset.”

In 2017, a total of 21 surface and 10 underground core drill holes were drilled for a total of 14,758 ft (4,498 m). This drilling targeted wide zones of low grade mineralization above the high grade vein system currently in production, with the intent to develop a bulk minable resource. Also included in these new resources is historical drilling conducted since 2004, which consists of 1,474 surface and underground drill holes totaling 1,022,240 ft (311,578 m).

A technical report in support of the Mineral Resource estimate described herein and prepared in accordance with National Instrument 43-101 will be filed on SEDAR and EDGAR within 45 days from the date hereof.

Assays were performed by American Assay Laboratories of Sparks, Nevada, as directed under the supervision of Klondex staff. This organization is an ISO 17025 accredited independent laboratory.

Qualified Person
Scientific and technical information in this press release has been reviewed and approved by Mark Odell, P.Eng. (NV Lic#13708) of Practical Mining LLC, an “independent qualified person” within the meaning of National Instrument 43-101.

About Klondex Mines Ltd. (www.klondexmines.com)
Klondex is a junior-tier gold and silver mining company focused on exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. The Company has 100% interests in four producing mineral properties: the Fire Creek Mine, the Midas Mine and ore milling facility, the Hollister Mine, all of which are located in the state of Nevada, USA, and the True North Mine and mill in Manitoba, Canada. The Company also has a 100% interest in the Aurora mine and ore milling facility, also located in Nevada, USA.

For More Information
John Seaberg
Senior Vice President, Strategic Relations
O: 775-284-5757
M: 303-668-7991
jseaberg@klondexmines.com

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch – www.resource-capital.ch

Cautionary Note Regarding Forward-looking Information
This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian and United States securities legislation (collectively, “forward-looking information”), including but not limited to the Company remaining focused on mining and further delineating high grade underground veins while looking for strategic alternatives to advance the open pit resource, the new information significantly extending Fire Creek’s mine life, the exploration potential at the Fire Creek Mine, the timing of an updated mineral reserve and mineral resource update and future exploration and production plans of Klondex. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which mineral reserve estimates are reflective of actual mineral reserves; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations; and the ability of Klondex to fund its substantial capital requirements and operations. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada and United States available at www.sedar.com and www.sec.gov, respectively. Readers are urged to read these materials. Klondex assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.

Cautionary note to U.S. investors regarding estimates of measured, indicated and inferred resources and proven and probable reserves
The terms “mineral reserve”, “proven mineral reserve” and “probable mineral reserve” are Canadian mining terms as defined in accordance with Canadian National Instrument 43-101-Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)-CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (“CIM Definition Standards”) These definitions differ from the definitions in the SEC Industry Guide 7 (“SEC Industry Guide 7”) under the Securities Act.

The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in, and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that all or any part of a mineral deposit in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all, or any part, of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable.

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First Cobalt Intersects Three Cobalt Veins at Keeley

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – https://www.youtube.com/… ) is pleased to announce new positive drill results from its 2017 drill program, confirming the presence of three cobalt bearing veins to the southwest of the past-producing Keeley mine in the Canadian Cobalt Camp. First Cobalt’s 2017 drill campaign is targeting cobalt mineralization over a two kilometre strike length, representing less than two percent of its land package with several known historic cobalt-rich mines.

Highlights

• 0.12% Co over 5.50m, including 0.68% Co over 0.34m in the Woods vein system which, together with the Watson vein, accounted for over 80% of the production in the Cobalt South area of the Cobalt Camp
• Greater than 1.00% Co over 0.42m* in the KeeleyCo#1 vein and 0.60% Co over 0.38m in the KeeleyCo#2 vein
• KeeleyCo#1 and KeeleyCo#2 veins are two metres apart and are interpreted as parallel structures to the Woods vein, where only minor mine workings exist
• Zinc and lead intersected as part of a hydrothermal halo around the vein systems provides another example of previously unknown metal zoning now seen elsewhere in the Cobalt Camp

Trent Mell, President & Chief Executive Officer, commented:

“We have identified cobalt mineralization to the north and south of the historic Keeley and Frontier silver-cobalt mines. Intersecting meaningful cobalt veins at the Woods Vein Extension and now at the southern extent of the Keeley mine has provided important data points and insights into historic mining operations. We are learning valuable structural information in this first drill program that will be applied to an ambitious camp-wide drill program commencing in January 2018.”

Keeley 5 Results

Assays have been received from an additional nine holes from four target areas: Keeley 5 shaft area, Keeley 2, Haileybury and Frontier 1. The most significant results were in drillhole KF-KD-0005 which intersected three different cobalt veins in an area south of the historic Keeley mine and to the west of the Woods Vein (Figure 1).

Table 1. Assay Results Summary for KF-KD-0005
From To Length Co Ag Ni Cu Zn Pb
Vein m m m % g/t % % % %
Woods 75.00 80.50 5.50 0.12 109 0.03 0.02 0.06 0.20
Including 78.42 78.76 0.34 0.68 >1,000* 0.84 0.11 0.53 >1.00*
KeeleyCo #1 198.62 199.00 0.38 0.60 5 0.06 0.02 0.01 0.00
KeeleyCo #2 201.00 201.42 0.42 >1.00* 6 0.55 0.02 0.00 0.00
*Note: Over-range assays are pending for Co (1%), Ag (1000g/t), and Pb (1%)

The Keeley 5 shaft area was targeted because historic mining assays reported high values for cobalt and nickel over several metres at the 8th Level, approximately 130 metres below surface outlining another vein system west of the Woods Vein. Drillhole KF-KD-0005 targeted below a ten metre length of historic workings along the Woods vein, which was assumed to occur as a single cobalt-nickel vein (Figure 2). Assays from this hole returned two additional cobalt intercepts, the KeeleyCo#1 vein and the KeeleyCo#2 vein, suggesting more than one vein occurs in this area.

Limited workings were developed into the KeeleyCo#1 and KeeleyCo#2 veins for test mining and it is believed they were abandoned due to the low silver, high cobalt nature of the veins. A total of five drillholes targeted this area in the current drilling program. The grades in these new cobalt veins, ranging from 0.60% to 1.00% Co or greater, are consistent with other known veins in Cobalt South such as Haileybury and Frontier 1. Skudderudite is the dominant Co-mineral and niccoline is the dominant Ni-mineral; both identified in drillcore logging. Over-range assays are pending for the >1% Co value, which will be calculated with an ICP finish.

Figure 1. Bedrock geology of the Keeley-Frontier-Bellellen mines in Cobalt South area.

Similar cobalt-nickel mineralization to KF-KD-0005 has also been logged in KF-KD-0004 further south. Assays are pending for this hole, but cobalt and nickel mineralization has been identified using a portable X-Ray Fluorescence (XRF) analyzer.
Both drillholes have been surveyed using borehole electromagnetics (EM) and an in-hole response was detected in each. An off-hole response was detected in KF-KD-0004 as well, suggesting the intersections are part of a vein system developed west of the Woods Vein. Results may indicate a multiple cobalt-bearing vein system in the area. Cobalt veining is interpreted to extend to mineralization intersected further south and is open along strike to the north.
Follow-up drilling is planned for this area in January to test the cobalt vein system along strike and closer to surface.

Woods Vein

Cobalt mineralization was intersected in the Woods Vein along with high grade silver. Zinc and lead were also intersected, reflecting a broader hydrothermal system capable of transporting metals. This broader hydrothermal system was noted in previous assay results from the Woods Vein Extension, but has not been well documented by previous companies in the Cobalt Camp.

Drillhole KF-KD-0005 intersected 0.12% Co over 5.50m, including 0.68% Co over 0.34m. The 0.34m intercept also assayed at >1,000 g/t Ag, 0.84% Ni, 0.53 Zn and >1.00% Pb. Presently, results have not been received for over-range assays. Fire assay methods will be used for silver and an ICP finish for elevated Co and Pb will be completed. The Woods and Watson vein system accounted for over 80% of the production in the Cobalt South area of the Cobalt Camp.

Figure 2: East-west cross section showing KF-KD-0005 and nearby drillholes.

The intersection of the Woods Vein appears as a zone of broken core containing abundant clay material. The host rocks are highly silicified and brittle in nature so fracture easily. Core recovery was poor; as such the complete vein may not have been adequately sampled.

Other Targets

First Cobalt has completed 61 holes in its maiden drill campaign in the Canadian Cobalt Camp. The 6,366 metre diamond drilling program was designed to test vein sets mapped in outcrop in ten areas known to be cobalt-rich over a two kilometre strike length encompassing the past producing Keeley, Frontier, Haileybury and Bellellen mines. All drill holes have been geologically logged, sampled and submitted for assays and multi-element geochemistry; assay results have been returned from 17 holes, including those reported in this release.

At the Woods Vein Extension area, assays previously reported from four holes were returned with anomalous metals in separate veins including 0.83% Co and 30 g/t Ag over 0.48 metres in one hole north of the Frontier Mine (see November 2, 2017 press release).
At Frontier 1, results from five of nine holes have been received, which included a previously reported new silver-bearing vein intersected in one of the holes: 27.75 g/t Ag and 0.10% Cu over 9.53 metres (see November 2, 2017 press release). The drilholes targeted calcite stockwork veining and cobalt mineralization mapped at surface and from historic underground plans.

A total of seven holes were drilled at Haileybury. Assay results from four holes were previously reported and an additional hole has also returned no significant Co values (<0.02% Co) despite intersecting calcite veins similar to the vein exposed at surface containing Co and Ni. These results suggest the mineralizing structure here is not well developed.

At Keeley 2 in the eastern portion of the Keeley mine, assays were received from two drillholes without significant Co values.

For a table of drill hole locations and assay results to date, visit https://firstcobalt.com/….

Next Steps

The 2017 drill program was designed to test structures to learn more about vein orientations and determine the grades in the host rocks to known Ag-Co calcite veins and in the veins themselves. Cobalt had been identified near the Woods Vein and Watson Vein, the main sources of silver at the Keeley and Frontier mines, as well as recorded on historic underground mine maps, making them a logical starting point for the drill program.

All drill data, downhole geophysical surveys, bedrock geochemical surveys and interpretations from the summer-fall mapping at the Keeley-Frontier property are being incorporated into a 3D geological model for 2018 exploration work which will include a much larger drill campaign. Successful results from the Company’s electromagnetic surveys (announced December 12, 2017) have prompted testing of a new ground-based electromagnetic system to determine if the cobalt veins encountered by drilling can be detected from surface.

Recent surface sampling results including the Drummond, Juno and Silver Banner mines in Cobalt North, the Caswell mine in Cobalt Central and the Bellellen mine in Cobalt South, together with 2017 drilling assays, will be integrated into First Cobalt’s geological model to plan the 2018 drill program.

Quality Assurance and Quality Control

First Cobalt has implemented a quality-control program to comply with common industry best practices for sampling and analyses. Samples are collected from drill core from a range of 30 to 100cm length. Half-core samples are submitted for analyses. Standards and blanks are inserted every 20 samples. Duplicates are made from quarter core splits every 20 samples. Geochemical data were received from SGS Minerals laboratories in Lakefield, Ontario, Canada. No QA/QC issues have been noted. SGS Laboratories has used a sodium-peroxide fusion and ICP finish for analyses on all samples.

Qualified and Competent Person Statement

Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt

First Cobalt is the largest land owner in the Cobalt Camp in Ontario, Canada. The Company controls over 10,000 hectares of prospective land and 50 historic mines as well as a mill and the only permitted cobalt refinery in North America capable of producing battery materials. First Cobalt began drilling in the Cobalt Camp in 2017 and seeks to build shareholder value through new discovery and growth opportunities.

On behalf of First Cobalt Corp.

Trent Mell

President & Chief Executive Officer

For more information visit www.firstcobalt.com or contact:

Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891

In Europe:
Swiss Resource Capital AG – Jochen Staiger
info@resource-capital.ch – www.resource-capital.ch

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects‘, "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and risks set out in First Cobalt’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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First Cobalt Reports Positive Borehole Geophysics Results

First Cobalt Corp. (TSX-V: FCC, ASX: FCC, OTCQB: FTSSF) (the “Company” – http://www.commodity-tv.net/…) is pleased to announce positive results from a borehole geophysics program in the Canadian Cobalt Camp. An electromagnetic program successfully identified a geophysical signature associated with vein-style mineralization intersected in recent drilling as well as an off-hole anomaly, providing a new exploration tool for the Cobalt Camp.

Highlights
• In-hole and off-hole electromagnetic (EM) anomalous responses corresponding to veining have been encountered at the Woods Vein Extension and near the Keeley mine
• Off-hole anomalous results will be targeted for follow-up in the winter drill program
• Final data interpretation is nearly complete and results are being incorporated into the planning for January 2018 drilling

Trent Mell, President & Chief Executive Officer, commented:
“Borehole electromagnetics may prove to be an effective tool for quickly detecting potential mineralization in the Camp. This signature connects veining logged in drill core with anomalous EM responses measured in-holes and potentially off-holes. We will continue to use EM type surveys in other areas to expedite future exploration planning.”

First Cobalt completed tests using a borehole electromagnetic (EM) system on ten drillholes in Cobalt South that are known to have intersected vein-style mineralization. The objective of this program was to assess EM methods against known mineralized targets to validate this geophysical tool for future application in the Cobalt Camp.

EM surveys measure electrical conductivity contrast between conductive minerals containing metals such as cobalt and silver and the host rock. The system detects conductivity in rocks intersected in the drillhole, an “in-hole response,” and away from the hole, an “off-hole response,” to a distance of approximately 100 metres.

Three areas were targeted for surveying: the area known as the Woods Vein Extension, the Frontier #1 vein and an area near the Keeley mine (Figure 1). The Woods Vein Extension area was previously believed to be barren but, based on new mapping and drilling, may be the extension of the Woods-Watson vein system that accounted for over 80% of the historic production in the Cobalt South region of the Cobalt Camp.

Electromagnetic Survey Results
Results of the program were positive, with both in-hole and off-hole electromagnetic anomalous responses encountered.
Five holes were surveyed near the Keeley mine and three at the Woods Vein Extension, to the north of the Frontier mine. Three holes with known cobalt veining provided an in-hole EM response consistent with drill core logging and assay results, confirming the ability of EM to detect a geophysical signature for cobalt veins.

More significantly, surveying in one hole near the Keeley mine detected an off-hole response, indicating a potential extension of the veining recorded in the hole. Two holes drilled along the Frontier #1 vein were also surveyed to detect off-hole anomalies, but did not encounter any EM responses.

Next Steps
EM surveying has not been used extensively in the Cobalt Camp despite cobalt and silver minerals being excellent conductors. The pulse EM method which is being used is well suited for this setting. The success of this program has three implications for First Cobalt.
First, ground-based EM system testing will commence shortly to determine if the cobalt veins encountered by drilling can be detected from surface. An expanded ground EM survey over the Woods Extension area is also being considered. If the results from the borehole program can be replicated from surface, EM surveys could have a camp-wide application as a prospecting and drill hole targeting tool.
Second, the off-hole anomaly detected near Keeley will be targeted during the winter drilling program starting in January.

A third implication is the opportunity to employ EM more systematically with drill campaigns, in order to quickly identify the extension of mineralized intercepts.
Crone Geophysics, based in Mississauga, Ontario, have been contracted to conduct the surveys. Crone Geophysics develops high quality instruments and has provided leading edge surveying and consulting since 1962.

Figure 1. Bedrock geology and location of holes surveyed
Qualified and Competent Person Statement
Dr. Frank Santaguida, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the contents of this news release. Dr. Santaguida is also a Competent Person (as defined in the JORC Code, 2012 edition) who is a practicing member of the Association of Professional Geologists of Ontario (being a ‘Recognised Professional Organisation’ for the purposes of the ASX Listing Rules). Dr. Santaguida is employed on a full-time basis as Vice President, Exploration for First Cobalt. He has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code.

About First Cobalt
First Cobalt is the largest land owner in the Cobalt Camp in Ontario, Canada. The Company controls over 10,000 hectares of prospective land and 50 historic mines as well as a mill and the only permitted cobalt refinery in North America capable of producing battery materials. First Cobalt began drilling in the Cobalt Camp in 2017 and seeks to build shareholder value through new discovery and growth opportunities.
On behalf of First Cobalt Corp.

Trent Mell
President & Chief Executive Officer
For more information visit www.firstcobalt.com or contact:
Heather Smiles
Investor Relations
info@firstcobalt.com
+1.416.900.3891

In Europe:
Swiss Resource Capital AG – Jochen Staiger
info@resource-capital.ch – www.resource-capital.ch

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects‘, "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and risks set out in First Cobalt’s public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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SMS group supplies three tandem cold mills for lead rolling to Johnson Controls Power Solutions

Johnson Controls Power Solutions has placed an order with SMS group (www.sms-group.com) for the supply of three tandem cold mills for lead rolling and has presented SMS group with the “Asia Supplier Excellence Award”.

The manufacture, pre-assembly and testing of the three cold rolling mills will take place in China, according to the specifications drawn up by Johnson Controls. The supply scope includes a roll coating that SMS group has designed specifically for lead rolling. The automation system will be laid out in close cooperation with Johnson Controls.

The tandem cold mills will be designed to roll lead strip in the narrow strip range. The finished strip is going to be used to make environment-friendly, high-performance automotive batteries.

The first mill successfully passed all functional tests in the pre-assembled state and is now being prepared for shipment. All three tandem cold mills will be installed at different international locations of Johnson Controls.

Being very satisfied with SMS group’s cooperation, and manufacturing efficiency and quality, Johnson Controls has presented SMS group with the “Asia Supplier Excellence Award”. This award is additional incentive for the team of SMS group to work closely with the international team of Johnson Controls experts to also complete the manufacture and shipment of the other two tandem cold mills according to schedule.

Commissioning of the plants is scheduled to take place in 2018.

With more than 2,000 facilities in more than 150 countries, Johnson Controls is a well-established and world-leading provider of products and solutions that create intelligent buildings and integrated infrastructure. Johnson Controls Power Solutions is the world’s leading producer of automotive batteries. The company ships about 152 million batteries every year to automakers and aftermarket distributors and retailers.

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Nam Kim Steel has successfully started operation of its third cold rolling mill supplied by SMS group

Ahead of schedule, on October 24th, 2017, Nam Kim Steel Joint Stock Company rolled the first coil on the new reversing cold mill (RCM) installed by SMS group (www.sms-group.com) at Nam Kim Steel’s facility in the Vietnamese province of Binh Duong, near Ho Chi Minh City.

This successful commissioning completes the third full-line supply of a cold rolling mill to Nam Kim Steel by Esmech Equipment Pvt. Ltd. together with SMS India, both companies of SMS group. All three projects have been performed to the full satisfaction of this aspiring Vietnamese cold strip producer.

The new RCM features an annual capacity of 200,000 tons and is capable of rolling strips with widths up to 1,250 millimeters down to a minimum final gage of 0.11 millimeters. Already the very first strip rolled had a width of 1,224 millimeters, which is close to the maximum width. To ensure that Nam Kim Steel can utilize the full mill capability as soon as possible, all parties involved will cooperate very closely during the ramp-up of the new mill.

Technological core components decisive for the quality of the rolled strips and the efficiency of the rolling process were supplied by SMS group from Germany. These included, for example, the CVC®plus roll shifting technology and the X-Shape flatness measuring and control system.

SMS group supplied the cold rolling mill complete with X-Pact® electrics and automation. With this new plant, Nam Kim Steel is optimally prepared for current and future market requirements.

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Sierra Metals announces filing of NI 43-101 technical report on the Yauricocha Mine in Peru

Toronto, ON – November 13, 2017 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company” – http://www.commodity-tv.net/… ) has filed a technical report prepared in accordance with National Instrument 43-101 (“NI 43-101”) on the Yauricocha Mine (the “Report“). The Report supports the disclosure made by the Company in its news releases dated September 28, 2017 entitled “Sierra Metals Significantly Increases Mineral Resource Estimate for Yauricocha Mine, Peru.” and dated October 26, 2017 entitled “Sierra Metals Significantly Increases Mineral Reserve Estimate for Yauricocha Mine, Peru.” There are no material differences in the mineral reserves and resources contained in the Report from those disclosed in the news releases.

The Report included Reserves and Resources for the Yauricocha Mine with:
• Total Proven and Probable Contained Metal has significantly increased by 86% silver, 237% copper, 58% lead, 96% zinc, and 97% gold as compared to the previous reserve estimate.
• Total Measured and Indicated Contained Metal has significantly increased by 72% silver, 128% copper, 74% zinc, 64% lead and 61% gold.
• Total Inferred Contained Metal has significantly increased by 55% silver, 59% copper, 105% zinc, 42% lead and 83% gold.
• Mineral Reserves for Yauricocha are 8,917,000 tonnes averaging 48.3 g/t silver, 1.2% copper, 0.8% lead, 2.4% zinc and 0.5 g/t gold representing a 135% tonnage increase compared to the previous Reserve Estimate. This new Reserve Estimate more than doubles the previous mine life at current throughput levels when compared to the previous reserve Estimate.
• Mineral Resources for Yauricocha are 13,206,000 tonnes averaging 62.3 g/t silver, 1.5% copper, 0.9% lead, 2.8% zinc and 0.6 g/t gold representing a 68% tonnage increase from the previous resource estimate.
• Total Inferred Mineral Resources for Yauricocha are 6,632,000 tonnes averaging 43.0 g/t silver, 1.2% copper, 0.5% lead, 2.2% zinc and 0.5 g/t gold representing a 77% tonnage increase from the previous resource estimate.
• Increases to contained copper reflect the discovery and delineation of new Cu-rich zones in Cuye, Mascota, and Esperanza as well as a 14% increase in Copper Price compared to the previous estimate.
• Metal pricing, metallurgical recoveries, costs, and other modifying factors have been updated to reflect July 31, 2017 actuals and assumptions.

The Report dated November 10, 2017 with and effective date of July 31, 2017 is entitled “NI 43-101 Technical Report on Resources and Reserves Yauricocha Mine Yauyos Province, Peru”, and was prepared by independent SRK Consulting (U.S.), Inc.

Signed by Qualified Persons:
Matthew Hastings, MSc Geology, MAusIMM (CP), SRK Principal Consultant (Resource Geology)
Shannon L. Rhéaume, BASc Mining and Mineral Processing, PEng, SRK Senior Consultant (Mining Engineer)
Daniel H. Sepulveda, BSc, SME-RM, SRK Associate Consultant (Metallurgy)
Jeff Osborn, BEng Mining, MMSAQP, SRK Principal Consultant (Mining Engineer)
John Tinucci, PhD, PE, ISRM, SRK President/Practice Leader/Principal Consultant (Geotechnical Engineer)

Reviewed by:
Erik C. Ronald, MEng, PG, MAusIMM, SRK Principal Consultant (Resource Geology)
John Tinucci, PhD, PE, ISRM, SRK President/Practice Leader/Principal Consultant (Geotechnical Engineer)
Peter Clarke, BSc Mining, MBA, PEng, SRK Principal Consultant (Mining Engineer)

Notes on Reserve Estimate

The procedures and methods supporting the mineral reserve estimations have been developed in conjunction with Sierra Metals mine planning personnel. The reserve estimates presented herein have been conducted by Sierra Metals and reviewed by SRK using supporting data generated by the site. SRK notes that the methods and procedures are reasonable and consistent with industry best practice. Each mining area was evaluated using reasonable mining block shapes based on the mining method applicable to the zone. Data and information supporting the mining recovery, mining dilution, reconciliation-based grade adjustments, metallurgical recoveries, consensus commodity pricing, and treatment and refining charges have been provided by Sierra Metals and reviewed by SRK. These factors are used to calculate unit values for the blocks in the models. Historic and expected direct and indirect mining, processing, and general and administrative costs were provided by Sierra Metals. To be considered economic, the Net Smelter Return (NSR) value of the mining block must be greater than the economic cutoff. Blocks below the economic cutoff but above the marginal cutoff are, in some cases, included in the reserve where they are in between or immediately adjacent to an economic block, and it is reasonable to expect that no significant additional development would be required to extract the marginal block. Isolated blocks, defined as blocks with no defined access, have been excluded from the reserve. Mined out areas were provided by Sierra Metals personnel.

SRK is of the opinion that the reserve estimations are suitable for public reporting and are a fair representation of the mill feed tonnes, grade, and metal for the Yauricocha deposit.

Notes on the Resource Estimate

The procedures and methods supporting the mineral resource estimation have been developed in conjunction with Minera Corona geological personnel. The understanding of the geology and mineralization at Yauricocha is based on a large volume of geologic data as well as a robust history of production. SRK has reviewed the methods and procedures for data collection methods supporting the estimate, and notes that they are reasonable and consistent with industry best practice. Geology models were generated by Minera Corona geologists using Datamine Studio or Leapfrog Geo, and locally vary significantly from those used in previous reports. A combination of diamond drilling, channel sampling, and mine mapping have been used to inform these models, and SRK is of the opinion that they are an accurate interpretation of the mineralization at Yauricocha. These models, presented as 3D wireframes, are used to constrain block models, which are flagged with variables such as bulk density, mine area, depletion, unit value, etc.

The resource estimations presented herein have been conducted or reviewed by independent consultants using supporting data generated by the site. SRK conducted independent estimations for the Mina Central area, Esperanza, Mascota, and the majority of the Cuerpos Pequenos Area. Cachi Cachi estimations and select Cuerpos Pequenos estimations were conducted by Minera Corona personnel and reviewed by SRK. Grade for the five primary commodities (Ag, Au, Cu, Pb, Zn) is estimated into the block models using both drilling and channel samples, applying industry-standard estimation methodology. Interpolation methods were generally via ordinary kriging or inverse distance depending on quantities of data. Mineral resources estimated by the independent consultants are categorized in a manner consistent with industry best practice, and are reported above reasonable unit value cut-offs based on actual marginal production costs to satisfy public reporting criteria.

SRK is of the opinion that the resource estimations are suitable for public reporting and are a fair representation of the in-situ contained metal for the Yauricocha deposit.

The Report is available for review on both SEDAR (www.sedar.com) and the Company’s website (www.sierrametals.com).

Qualified Persons

The technical content of this news release has been reviewed and approved by Gordon Babcock P.Eng., Chief Operating Officer and a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Americo Zuzunaga, MAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person and chartered professional qualifying as a Competent Person under the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Augusto Chung, FAusIMM CP (Metallurgist) and Consultant to Sierra Metals is a Qualified Person and chartered professional qualifying as a Competent Person on metallurgical processes.

About Sierra Metals

Sierra Metals Inc. is 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 key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also 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”.

For further information regarding Sierra Metals, please visit www.sierrametals.com or contact:

Mike McAllister
V.P., Corporate Development
Sierra Metals Inc.
+1 (416) 366-7777
Email: info@sierrametals.com

Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch
Alonso Lujan
V.P., Exploration
Sierra Metals Inc.
+(51) 630-3100
+(52) 614-4260211 Igor Gonzales
President & CEO
Sierra Metals Inc.
+1(416) 366-7777

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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 the 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 ("SEC"), 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 the 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.

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