Silver Price: $20.63
NYSE: AG $8.35
TSX: FR $10.72
Frankfurt: FMV €8.25

TSX Conditional Approval

December 13, 2007

FIRST MAJESTIC SILVER CORP. (“First Majestic” or the “Company”) is pleased to announce that it has received conditional approval for a listing of its common shares and warrants on the Toronto Stock Exchange (TSX) under the symbol “FR” and “FR.WT”. Upon filing and acceptance of the final listing application and related documentation, the Company’s shares and warrants will commence trading on the Toronto Stock Exchange and be de-listed from the TSX Venture Exchange. The Company anticipates its listing date to be in January, 2008.

Keith Neumeyer, President & CEO, stated ”I would like to thank the Toronto Stock Exchange for its consideration, and conditional acceptance for listing on Canada’s senior stock exchange which will facilitate access to larger pools of growth capital and create greater liquidity. This event marks another significant milestone reflecting the rapid growth of First Majestic over the last few years”.

First Majestic is a mid-tier silver producing company with operations focused in México and is aggressively pursuing its business plan to become a senior silver producer through the development of its existing assets and the pursuit through acquisition of additional assets that contribute to achieving its significant corporate growth objectives.

FOR FURTHER INFORMATION contact, visit our website at or call our toll free number 1.866.529.2807.



Keith Neumeyer,
President & CEO

This press release includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of First Majestic Resource Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and the TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.