ARCF I Amendment of January 21 Press Release Re: Sierra Metals Inc.

/THE DISSEMINATION OF THIS RELEASE IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICE MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./

TORONTO, Feb. 10, 2021 /CNW/ - This press release amends the press release issued on January 21, 2021, to amend the number of common shares of Sierra Metals Inc. ("Common Shares") owned by Arias Resource Capital GP Ltd. following the distribution in kind by Arias Resource Capital Fund L.P. ("ARCF I") of its Common Shares (the "Distribution in Kind") based on revised numbers from an ARCF I service provider.  Giving effect to the Distribution in Kind, the Common Shares and RSUs held by the ARCF II Funds, Arias Resource Capital Management LP, Arias Resource Capital GP Ltd., and J. Alberto Arias, collectively, would represent approximately 26.9% of the total outstanding Common Shares of Sierra, on a partially diluted basis (compared to 27.2% as disclosed in the prior press release), as summarized below:

This news release has been disseminated in accordance with the early warning requirements of Canadian provincial securities laws.

SOURCE Arias Resource Capital Fund L.P.