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Last updated on April 23, 2014 at 13:22 EDT

Sierra Iron Ore – Initial Results on El Creston

October 3, 2011

VANCOUVER, Oct. 3, 2011 /PRNewswire/ – SIERRA IRON ORE CORPORATION (the “Company”) is very pleased to announce the receipt of analytical results from ALS
Chemex of samples submitted for analysis from the Company’s recent
scout drilling program in its El Creston iron property 20km northeast
of the city of Choix, Sinaloa, Mexico. In this initial phase of
continuing exploration work on the El Creston, Reverse Circulation (RC)
drilling was the method chosen to quickly determine geological
extensions of known magnetite mineralization for immediate follow-up by
core drilling. The highlight of the RC drilling show 6 holes reporting
values greater than 30% Fe as shown in the following table.

     ____________________________________________________________________________
    |         |                  |Sample|      |     |       |     |      |      |
    |         |                  |Width |AU    |  AG |       |     |      |      |
    |RC Hole #|From (m)     To(m)|(m)   |(g/t) |(g/t)|CU%    |FE%  |PB%   |ZN%   |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |1.52              |  9.14|      | 0.85| 0.0477|35.01|0.0009|0.0252|
    |CRC-01   |    10.66         |      | 0.006|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |6.09              |  3.05|      | 0.65|  0.042|   57|0.0001|0.0179|
    |Including|      9.14        |      | 0.006|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |1.52              | 12.19|      | 3.58| 0.1496|33.42|0.0116| 0.035|
    |CRC-02   |         13.71    |      |  0.04|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |3.05              |  4.57|      |  1.2| 0.0229|63.36|0.0055|0.0234|
    |Including|   7.62           |      | 0.005|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |0                 | 13.71|      |  3.4| 0.0111|25.94|0.0038|0.0235|
    |CRC-03   |         13.71    |      |  0.16|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |1.52              |  3.05|      |  0.5| 0.0013| 33.3|0.0004|0.0106|
    |Including|     4.57         |      | 0.005|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |7.62              |  3.05|      |  8.4| 0.0374|38.75| 0.004|0.0452|
    |including|   10.66          |      |  0.31|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |0                 |  7.62|      | 0.65|0.04578| 35.6|0.0038|0.0196|
    |CRC-09   |       7.62       |      |0.0346|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |0                 |  1.52|      |  0.5| 0.0033| 57.2|0.0032|0.0197|
    |Including|      1.52        |      | 0.028|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |4.57              |  1.53|      |  0.8|  0.154| 54.5| 0.005|  0.02|
    |including|       6.10       |      | 0.024|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |32.00             |  1.52|      |  0.5| 0.0005| 43.5|0.0042|0.0168|
    |CRC-11   |33.52             |      | 0.005|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |7.62              |  3.05|      |  0.5| 0.0216|   43|0.0007|0.0106|
    |Including|     10.66        |      | 0.005|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |3.05              |  3.05|      |  0.5| 0.0449|35.33|0.0032|0.0128|
    |Including|   6.10           |      |  0.01|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |32.00             |  1.52|      |  4.6|   0.11|   37| 0.001|0.0013|
    |Including|33.52             |      | 0.102|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |35.05             |  1.52|      |  3.6|  0.129| 44.6|0.0022|0.0229|
    |including|36.57             |      | 0.015|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|
    |         |1.52              |  1.52|      |  6.1|  0.253| 30.9|0.0152|0.0778|
    |CRC-26   |    3.05          |      | 0.012|     |       |     |      |      |
    |_________|__________________|______|______|_____|_______|_____|______|______|

The iron industry considers 30% Fe content the lowest limit for economic
exploitation. However, the low cost of magnetic separation makes
concentrations of as low as 10% Fe attractive.

All of the RC samples were submitted as well for a 32-element ICP
analysis. No significant values of Au, Ag, Cu, Pb and Zn were
encountered.

Duplicates were inserted every 10 sample interval for QA/QC.

The difficulty in recognizing geological boundaries from RC drill
cuttings particularly in assigning sampling intervals is a recognized
drawback that will be addressed by the company’s forthcoming core
drilling program.

A map showing the RC drill hole locations is published on the company’s
website.

The iron skarn geology at El Creston primarily comprises metasomatic
replacement of limestone and other calcareous units in volcaniclastics
by magnetite occurring as disseminations to stringers to massive
tabular bodies, where in places the magnetite exceeds 30m in width. The
magnetite bodies appear distributed along the flanks of a broad
antiform whose east-west axis extends for more than 1,000m.

Management is very pleased with this initial 1(st) stage step out drilling preparatory to a continuing core drill program
to define the geometry of wide spread magnetite zones in preparation
for immediate resource assessment.

Mr. Ruben Verzosa, P. Eng., a Qualified Person (QP) as defined by NI
43-101 has approved the geological content of this Press Release.

On behalf of The Board of Directors of Sierra Iron Ore Corporation.

Paul Lee, Director

This news release contains certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not under
the control of Sierra Iron Ore Corp. which may cause actual results,
performance or achievements of Sierra Iron Ore Corporation to be
materially different from the results, performance or expectation
implied by these forward looking statements. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release, which has been prepared
by management
.

SOURCE Sierra Iron Ore Corporation


Source: PR Newswire