3/14/2012 $SIRG Signs Binding Letter of Intent to

3/14/2012 $SIRG Signs Binding Letter of Intent to Acquire Half of the Minority Interest in the Chloride Copper Mine

Sierra Resource Group Signs Binding Letter of Intent to Acquire Half of the Minority Interest in the Chloride Copper Mine Share of Mine ownership would increase to 90%

PR Newswire

KINGMAN, Ariz., March 14, 2012

KINGMAN, Ariz. , March 14, 2012 /PRNewswire/ -- Sierra Resource Group, Inc. (OTCBB: SIRG) (the "Company") announced that its board of directors has approved a Letter of Intent with the Medina Property Group LLC, owners of a minority share of the Chloride Copper Mine. The letter is a binding agreement for the parties to proceed to a final document for the purchase by the Company of half of the 20% minority interest in the Chloride Copper Mine from the Medina Property Group, LLC, in exchange for a cash payment of $1,200,000 and 20 million shares of Class A Common Stock of the Company. When concluded, the purchase would increase the Company's majority ownership in the Chloride Copper Mine from 80% to 90%.

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"We believe that this is a unique opportunity for our Company to increase its ownership in the Copper Chloride Mine, at a fair price based on a discount to future cash flow. We're pleased with the terms of the transaction and feel that this acquisition will add to shareholder value," said J. Rod Martin , Chief Executive Officer of the Company.

About Sierra Resource Group, Inc.:

Sierra Resource Group, Inc. (OTC Bulletin Board: SIRG) is a U.S. based exploration and mining company committed to the exploration, discovery and development of gold, silver, copper and other mineral resources. Sierra's primary asset is 80% ownership of the Chloride Copper Mine located near Kingman Arizona . The technical report, NI43-101, by Scott Wilson Roscoe Postle Associates dated March 10, 2006 , estimates the Chloride Copper Mine contains 27,000,000 pounds of copper. The company is looking to expand throughout the Americas.

Sierra plans to use open pit mining and plans to reopen the existing SX/EW plant on site with an estimated maximum capability of producing up to 5,400,000 pounds of Copper Cathode per year. The SX/EW process is environmentally friendly, cost effective and a quick production process according to an article published by the Copper Development Association in August 2001 and publically available on the Association's website ( www.copper.org ).

The Chloride Copper Mine deposit is hosted by Late Tertiary conglomerates and, to a lesser extent, by Quaternary alluvium and Cretaceous granitic rocks. Copper mineralization at Chloride Copper Mine is in the form of mineralized lenses contained within a paleochannel approximately a few thousand feet long and up to 750 feet wide. The source of copper at Chloride Copper Mine is interpreted to be the low grade porphyry-type copper mineralization at Alum Wash, about 3.5 miles northeast of the Chloride Copper Mine deposit. The mineralization is characterized by dark blue to black rock similar to the Exotica deposit, a satellite of the huge Chuquicamata copper deposit in Chile .

Sierra's management and Board of Directors consist of expert geophysicists, mining professionals and experienced business people.

FOR INFORMATION CONTACT : Sierra Resource Group, Inc.Ph. 702.462.7285 www.sierraresgroup.com J. Rod Martin CEO Rodmartinmail@gmail.com

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