diff --git a/tools/release/common.sh b/tools/release/common.sh
index 75de0fb1c0..6d057ba123 100755
--- a/tools/release/common.sh
+++ b/tools/release/common.sh
@@ -6,6 +6,9 @@
 
 set -e
 
+# Use GNU sed on MacOS falling back to `sed` everywhere else
+SED=$(which gsed || which sed)
+
 check_required_setup() {
   # Ensure "gh" tool is installed.
   if ! command -v gh &> /dev/null; then
@@ -22,8 +25,9 @@ check_required_setup() {
   fi
 }
 
+# Last release is the version we want to release now.
 find_last_release() {
-  LAST_RELEASE_TAG=$(git tag --list --sort=taggerdate 'mimir-[0-9]*' | tail -1)
+  LAST_RELEASE_TAG=$(git describe --abbrev=0 --match 'mimir-[0-9]*')
 
   if [ -z "${LAST_RELEASE_TAG}" ]; then
     echo "Unable to find the last release git tag" > /dev/stderr
@@ -38,15 +42,21 @@ find_last_release() {
   export LAST_RELEASE_VERSION
 }
 
-# Find the previous release. If the last release is a stable release then it only takes in account stable releases
-# (the previous release of a stable release must be another stable release).
+# Previous release is one version before last release.
+# If last release is an rc, previous release can be any rc or non-rc.
+# If last release is a stable (non-rc) release, previous release must be a non-rc release.
 find_prev_release() {
   find_last_release
 
+  ALL_RELEASE_TAGS=$(git tag --list 'mimir-[0-9]*')
+
+  # To sort rc version correctly we use sed to append non-rc version with a temporary suffix
+  SORTED_RELEASE_TAGS=$(echo "$ALL_RELEASE_TAGS" | $SED '/rc/b; s/\(.*\)/\1-xx.x/' | sort --version-sort | $SED 's/-xx.x//')
+
   if [[ $LAST_RELEASE_VERSION =~ "-rc" ]]; then
-    PREV_RELEASE_TAG=$(git tag --list --sort=taggerdate 'mimir-[0-9]*' | tail -2 | head -1)
+    PREV_RELEASE_TAG=$(echo "$SORTED_RELEASE_TAGS" | grep $(echo $LAST_RELEASE_VERSION) -B1 | head -1)
   else
-    PREV_RELEASE_TAG=$(git tag --list --sort=taggerdate 'mimir-[0-9]*' | grep -v -- '-rc' | tail -2 | head -1)
+    PREV_RELEASE_TAG=$(echo "$SORTED_RELEASE_TAGS" | grep -v -- '-rc' | grep $(echo $LAST_RELEASE_VERSION) -B1 | head -1)
   fi
 
   if [ -z "${PREV_RELEASE_TAG}" ]; then
diff --git a/tools/release/create-draft-release-notes.sh b/tools/release/create-draft-release-notes.sh
index fb6ed92487..b67baa66bd 100755
--- a/tools/release/create-draft-release-notes.sh
+++ b/tools/release/create-draft-release-notes.sh
@@ -3,9 +3,6 @@
 
 set -e
 
-# Use GNU sed on MacOS falling back to `sed` everywhere else
-SED=$(which gsed || which sed)
-
 # Load common lib.
 CURR_DIR="$(dirname "$0")"
 . "${CURR_DIR}/common.sh"