Sierra Gold Corporation announced that it has signed a Carbon Credit Funding contract with Green Giant Venture Fund. It is estimated that the process of completing the various components to initiate funding will take approximately 6-8 weeks. The credits developed will then be capable for future sale. The funds received from the Carbon Credit programs will be utilized by the company to fund further development of its mining and agricultural operations in Sierra Leone.

Sierra Gold Corporation announced that the May gold production yielded over 75 troy ounces of gold. The first five months ended May of production in 2009 have increased more than 75% over the entire gold production of 2008. The company also announced the appointment of a new director, Paulus Bairoh, who has replaced Bai Kamara. He has over 10 years' experience in artisanal mining and brings a more progressive, pro-business approach that is reflective of the younger generation of his country.

Sierra Gold Corporation announced that the March gold production yielded over 57 troy ounces of gold and evidence of significant diamond potential on its properties. The equipment used on the properties was out of service through March 10 for repairs, so the extraction numbers for March are for a short month of production. On a more positive note, all equipment is now in full service and the company expects gold extraction figures for April and May to reflect full production from the equipment. In addition to the March gold production, the company's Joint Ventures in the South have consistently, on a daily basis, found several clear and colored diamonds on those properties leading management to expect they will continue to find larger diamonds in greater quantities as more gravel is processed.