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TORONTO,
May 10, 2013 /CNW/ - Sierra Metals
Inc. (TSX-V: SMT) (BVL: SMT) ("Sierra" or the "Company")
announces that, in connection with its normal course issuer bid
("NCIB"), which was previously announced on March 26, 2013, it has entered into an automatic
share repurchase plan agreement (the "Plan") with a designated
broker.
The Plan permits the Company's broker to
repurchase Shares under the NCIB at any time, including during
internal blackout periods and/or when the Company is in possession
of undisclosed material information, without the control or
influence of the Company, subject to certain price limitations and
other parameters prescribed by the Plan.
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 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, La Verde (gold) at the Batopilas Property in the state of Chihuahua, and Las Coloradas (silver) at the Melchor Ocampo
Property in the state of Zacatecas.
The Company's shares trade on the Bolsa de
Valores de Lima and TSXV under the
symbol "SMT".
This press release does not constitute an
offer to sell or solicitation of an offer to buy the securities in
the United States or any other
jurisdiction. The Common Shares will not be and have not been
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
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.