Mission, British Columbia Canada V2V-7N1

8792 Shook Road TSX-V: SMG Mission, British Columbia Tel: 604. 410-2277 Canada V2V-7N1 Fax: 604. 410-2275

NEWS RELEASE

August 29, 2019

Sierra Madre Developments Inc. (TSXV: SMG) (the “Company”) announces that it will not be proceeding with the previously announced change of management, share consolidation and a nonbrokered private placement financing (see news release dated July 31, 2019). As a result, the Company’s directors and officers will continue to be Carl von Einsiedel, Robert Anderson and Kathryn Witter.

The Company’s distribution of the shares of Bear Mountain Gold Mines Ltd. will still be proceeding (see Company’s news releases of August 9 and 13, 2019), and such shares are expected to be distributed to the Company’s shareholders next week.

ON BEHALF OF THE BOARD:

“Carl von Einsiedel”

Carl von Einsiedel, CEO 604-410-2277 Neither the 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 release.

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