Silver Price: $22.39
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First Majestic Files Updated Technical Report for the Santa Elena Silver/Gold Mine in Sonora, Mexico Including a Positive Pre-Feasibility Study for the Ermitaño Project; Appoints Vice-President of Exploration

Vancouver, British Columbia--(Newsfile Corp. - November 24, 2021) - FIRST MAJESTIC SILVER CORP. (NYSE: AG) (TSX: FR) (the "Company" or "First Majestic") is pleased to announce it has filed an updated technical report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects for its Santa Elena Silver/Gold Mine in Sonora, Mexico. The report also includes positive results of a Pre-Feasibility Study ("PFS") completed for its 100% owned Ermitaño Project which is located only four kilometres east of the Santa Elena processing plant. The Company has filed the Technical Report on its website (www.firstmajestic.com) under the Reserves and Resources section and on SEDAR (www.sedar.com) under First Majestic's issuer profile. All amounts are in U.S. dollars unless stated otherwise.

UPDATED MINERAL RESERVE & RESOURCE ESTIMATES FOR SANTA ELENA

(compared to Mineral Reserve and Resource estimates on December 31, 2020)

  • Proven and Probable Mineral Reserves ("P&P") increased 59% to 51.0 million silver equivalent ounces consisting of 12.6 million ounces of silver and 418.4 thousand ounces of gold. Average P&P grades increased 30% to 314 AgEq g/t (78 g/t silver and 2.58 g/t gold)
  • Measured and Indicated Mineral Resources ("M&I") increased 7% to 69.2 million silver equivalent ounces consisting of 18.9 million ounces of silver and 557 thousand ounces of gold. Average M&I grades increased 8% to 355 AgEq g/t (97 g/t silver and 2.85 g/t gold)
  • Inferred Resources decreased 13% to 62.4 million silver equivalent ounces consisting of 16.2 million ounces of silver and 490 thousand ounces of gold. Average Inferred grades increased 6% to 310 AgEq g/t (80 g/t silver and 2.43 g/t gold)

PRE-FEASIBILITY STUDY HIGHLIGHTS

  • Pre-tax NPV5% of $133.7 million
  • Pre-tax IRR of 54%
  • After-tax NPV5% of $64.8 million
  • After-tax IRR of 34%
  • Life of mine ("LOM") of seven years, based only on P&P Reserves, extending the life of mine at Santa Elena including the Ermitaño Project until 2027 producing an estimated 10.3 million ounces of silver and 396 thousand ounces of gold
  • After-tax payback of 44 months, or 3.7 years, as of June 2021
  • LOM consolidated average cash costs at the Santa Elena mining complex is estimated at $105 per tonne, including royalties and selling costs

"We are very excited to deliver this updated Reserves and Resource statement for our Santa Elena operation which includes for the first time, the addition of Mineral Reserves at our Ermitaño project located only four kilometers away from the Santa Elena processing plant," stated Keith Neumeyer, President and CEO. "I am also very pleased to report that we celebrated Ermitaño's first doré pour from development stockpiles at the Santa Elena mill in early November. Ore production from this important new mine is anticipated to ramp up throughout 2022 and into 2023. I would like to congratulate our exploration, operation and technical services teams for their hard work and dedication over the past six years to prepare Santa Elena for its next phase of production growth."

Mr. Neumeyer continued, "I am also pleased to welcome Gonzalo Mercado to the First Majestic team as Vice-President of Exploration. Gonzalo's wealth of exploration knowledge and industry expertise make him a valuable addition to our team and I look forward to working with him as we continue to grow the Company."

PFS OVERVIEW

The financial analysis of Santa Elena considers only revenue from Proven and Probable Mineral Reserves. The analysis considers current and projected costs incurred at the Santa Elena mine, processing plant, plus existing contractor quotes for estimating costs for development in the Santa Elena mine and at the Ermitaño project.

A general financial summary for Santa Elena, which includes the Santa Elena mine, the Ermitaño project, and reclaiming of the remaining leach pad material is provided in Table 1 Metal prices assumptions used to calculate the economic parameters below were $22.50/oz for silver and $1,700/oz for gold.

Table 1: Santa Elena Financial Summary

Item Units Total
Net Revenue $M 884.6
Total Costs (excluding taxes) $M (719.4)
Net Profit Before Tax $M 165.2
Net Profit After Tax (37.5%) $M 85.0
NPV Before Tax (DCFBT @ 5%) $M 133.7
NPV After Tax (DCFAT @ 5%) (37.5%) $M 64.8
IRR Before Tax % 54%
IRR After Tax (37.5%) % 34%
Maximum Cash Outlay $M (60.4)
Payback (discounted, after tax from June 2021) months 44

 

The sensitivity analyses completed shows the relative strength of the project under changes to commodity prices, which along with metallurgical recoveries, impact the financial performance of the mine complex more so than changes to operating or capital cost estimates.

Table 2 summarise the sensitivity to the after-tax net present value due to changes in the applied discount rate.

Table 2: Project Sensitivity to Silver and Gold Price - NPV @ 5% $M (After Tax)

NPV ($M)

After Tax
Silver Price ($/oz Ag) and Gold Price ($/oz Au)
Discount 1,550 Au 1,600 Au 1,650 Au 1,700 Au 1,750 Au 1,800 Au 1,850 Au
Rate 19.50 Ag 20.50 Ag 21.50 Ag 22.50 Ag 23.50 Ag 24.50 Ag 25.50 Ag
        Base Case      
3% 22.5 39.2 55.9 72.3 88.8 105.3 121.8
5% 17.4 33.3 49.2 64.8 80.5 96.2 111.8
7% 12.7 28.0 43.1 58.0 72.9 87.8 102.7
10% 6.4 20.8 34.9 48.8 62.7 76.7 90.6

 

The impact to the after-tax IRR for each of the revenue scenarios are also summarised in Table 3. The sensitivity demonstrates that even at the lower commodity prices scenario, Santa Elena demonstrates positive IRR.

Table 3: IRR Project Sensitivity (After Tax)

IRR (%)

After Tax
Silver Price ($/oz Ag) and Gold Price ($/oz Au)
  1,550 Au 1,600 Au 1,650 Au 1,700 Au 1,750 Au 1,800 Au 1,850 Au
  19.50 Ag 20.50 Ag 21.50 Ag 22.50 Ag 23.50 Ag 24.50 Ag 25.50 Ag
IRR 13% 20% 27% 34% 41% 48% 55%

 

MINERAL RESOURCE & MINERAL RESERVE ESTIMATES

The Mineral Resources were classified into Measured, Indicated, or Inferred categories based on the confidence in the geological interpretation and models, the confidence in the continuity of metal grades, the sample support for the estimation and reliability of the sample data, and on the presence of underground mining development providing detailed mapping and production channel sample support.

The Mineral Resource estimates for Santa Elena and Ermitaño are summarized in Table 4 and Table 5 using the silver-equivalent (Ag-Eq) cut-off grades appropriate for the mining method assigned to each domain, and an effective date of June 30, 2021. Measured and Indicated Mineral Resources are reported inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Table 4: Santa Elena Silver/Gold Mine Mineral Resource Estimates, Measured and Indicated Category

(Effective date June 30, 2021)

 

Project Domain Category Mineral Type Tonnage

k tonnes


Grades


 
Metal Content 
Ag (g/t) Au (g/t)  Ag-Eq (g/t)   Ag (k Oz)  Au (k Oz)

Ag-Eq (k Oz)
Santa Elena Main Vein Measured Sulphides           485               102 1.51                 212          1,590 24               3,310
Alejandras Measured Sulphides           225               233 2.55                 420          1,690 19               3,040
America Measured Sulphides           139               244 1.73                 370          1,090 8               1,660
Ermitaño  Ermitaño Measured Sulphides             58                 21 4.00                 408                40 8                   770
ALL Total Measured   Sulphides           907               151 1.96                 300          4,410 57               8,780
Santa Elena Main Vein Indicated Sulphides       1,340                 92 1.37                 193          3,980 59               8,310
Alejandra Indicated Sulphides           270               207 2.10                 361          1,800 18               3,130
Americas Indicated Sulphides           252               281 1.22                 371          2,280 10               3,010
Tortuga Indicated Sulphides           110               118 2.52                 303             420 9               1,070
Heap Leach Heap Leach Pad Indicated Oxides Spent Ore           283                 31 0.56                   66             280 5                   600
Ermitaño Ermitaño and N Splay Indicated Sulphides       1,936                 69 5.10                 563          4,310 318             35,060
Ermitaño Stockwork Indicated Sulphides           653                 42 1.86                 222             880 39               4,660
Intermedias Indicated Sulphides           273                 57 4.49                 491             500 39               4,300
Other Minor Veins Indicated Sulphides             39                 17 1.85                 199                20 2                   250
ALL Total Indicated   All Mineral Types       5,157                 87 3.01                 364       14,470 499             60,390
ALL Total Measured & Indicated All Mineral Types       6,064                 97 2.85 355       18,880 557             69,170

 

Table 5: Santa Elena Silver/Gold Mine Mineral Resource Estimates, Inferred Category (Effective date June 30, 2021)

Project Domain  Category Mineral Type Tonnage

k tonnes


Grades


 
Metal Content 



Ag 

(g/t)

Au

(g/t)
 Ag-Eq

(g/t) 
 Ag

(k Oz) 
Au

(k Oz)
Ag-Eq

(k Oz)
Santa Elena Main Vein Inferred Sulphides           569                 68 1.08                 148          1,250 20               2,700
Alejandras Inferred Sulphides           372               185 1.84                 320          2,210 22               3,820
America Inferred Sulphides           213               304 1.02                 379          2,080 7               2,600
Tortuga Inferred Sulphides             28                 74 0.94                 143                70 1                   130
Ermitaño Ermitaño and N Splay Inferred Sulphides       2,837                 55 2.82                 328          5,060 257             29,950
Ermitaño Stockwork Inferred Sulphides           660                 53 1.77                 224          1,120 38               4,760
Intermedias Inferred Sulphides           465                 74 3.44                 407          1,110 51               6,090
Other Minor Veins Inferred Sulphides           666                 35 1.90                 219             750 41               4,680
Soledad Inferred Sulphides           444               176 3.73                 538          2,520 53               7,670
ALL Total Inferred   Sulphides       6,254                 80 2.43                 310       16,170 490             62,400

 

(1) Mineral Resource estimates are classified in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves, whose definitions are incorporated by reference into NI 43-101.

(2) The Mineral Resource estimates are based on internal estimates prepared as of June 30, 2021. The information provided was reviewed and prepared by Phillip Spurgeon, P.Geo., a First Majestic employee.

(3) Silver-equivalent grade is estimated considering metal price assumptions, metallurgical recovery, and the metal payable terms.

Ag-Eq = Ag Grade + (Au Grade x Au Recovery x Au Payable x Au Price) / (Ag Recovery x Ag Payable x Ag Price).

(4) Metal prices used in the Mineral Resources estimates were $26.00/oz Ag and $1,850/oz Au.

(5) Metallurgical recovery was 92.7% for silver and 95.5% for gold for Santa Elena and the heap leach pad. For Ermitaño, the metallurgical recovery used was 72.0% for silver and 98.0% for gold.

(6) Metal payable used was 99.85% for silver and 99.80% gold.

(7) The cut-off grade used to constrain the Mineral Resource estimate was 95 g/t Ag-Eq for all Santa Elena mine domains and 70 g/t Ag-Eq for the heap leach pad. The cut-off grade used for the Ermitaño zone domains was 135 g/t Ag-Eq. The cut-offs used were based on actual and budgeted operating and sustaining costs.

(8) Tonnage is expressed in thousands of tonnes; metal content is expressed in thousands of ounces.

(9) Totals may not add up due to rounding.

(10) Measured and Indicated Mineral Resources are reported inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

The Mineral Reserves estimation process consists of converting Mineral Resources into Mineral Reserves by identifying material that exceeds the mining cut-off grades while conforming to specified geometrical constraints determined by the applicable mining method and applying modifying factors such as mining dilution and mining recovery factors. If the Mineral Resources comply with the previous constraints, Measured Resources could be converted to Proven Reserves and Indicated Resources could be converted to Probable Reserves, and, in some instances, Measured Resources could be converted to Probable Reserves if any or more of the modifying factors reduces the confidence of the estimates.

The Mineral Reserves for the Santa Elena mining complex are presented in Table 6.

Table 6: Santa Elena Consolidated Mineral Reserves Statement (Effective Date June 30, 2021)

 

Category Mineral Type

Tonnage

(kt)

Grade Metal Content
Ag

(g/t)
Au

(g/t)
Ag-Eq

(g/t)
Ag

(k Oz)
Au

(k Oz)
Ag-Eq

(k Oz)


         4,330
Santa Elena Proven Oxides + Sulphides           640            120          1.23           210          2,460           25.4
Ermitaño Proven Sulphides             59              16          3.11           314               30             5.9             600
Total Proven Oxides + Sulphides           699            111          1.39           219          2,490           31.3          4,930
Santa Elena Probable Oxides + Sulphides        1,289            120          1.24           210          4,960           51.2          8,710
Ermitaño Probable Sulphides        2,775              54          3.71           412          4,850         330.9        36,750
Leach Pad Probable Oxides Spent Ore           283              31          0.56             72             280             5.1             650
Total Probable Oxides + Sulphides        4,347              72          2.77           330        10,090         387.2        46,110
Santa Elena P&P Oxides + Sulphides        1,929            120          1.24           210          7,420           76.6        13,030
Ermitaño P&P Sulphides        2,835              54          3.69           410          4,880         336.7        37,340
Leach Pad P&P Oxides Spent Ore           283              31          0.56             72             280             5.1             650
Total Proven & Probable Oxides + Sulphides        5,047              78          2.58           314        12,580         418.4        51,020

 

(1) Mineral Reserves have been classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards on Mineral Resources and Mineral Reserves, whose definitions are incorporated by reference into NI 43-101.

(2) The Mineral Reserves statement provided in the table above is based on internal estimates prepared as of June 30, 2021. The information provided was prepared and reviewed under the supervision of Ramon Mendoza Reyes, PEng, and a Qualified Person ("QP") for the purposes of NI 43-101.

(3) The cut-offs were estimated considering metal price assumptions, metallurgical recovery for the corresponding mineral type/mineral process and the metal payable of the selling contract.

a) Silver-equivalent grades were estimated for Santa Elena underground mine and the Leach Pad material.

b) Cut-off value was estimated for the Ermitaño project material.

c) Metal prices considered for Mineral Reserves estimates were $24.00 /oz Ag and $1,700.00 /oz Au.

d) Other key assumptions and parameters include: Metallurgical recoveries; metal payable for silver and gold; direct mining and haulage costs, mill feed, process and treatment costs, sustaining costs and indirect costs including general and administration costs and are different for each deposit as described in tables 15-10, 15-11 and 15-12 of the Technical Report.

(4) A two-step constraining approach has been implemented to estimate reserves for each mining method in use: A General Cut-Off Grade (GC) was used to delimit new mining areas that will require development of access, infrastructure, and all sustaining costs. A second Incremental Cut-Off Grade (IC) was considered to include adjacent mineralized material which recoverable value pays for all associated costs, including but not limited to the variable cost of mining and processing, indirect costs, treatment, administration costs and plant sustaining costs but excludes the access development assumed to be covered by the block above the GC grade.

(5) Modifying factors for conversion of resources to reserves include consideration for planned dilution due to geometric aspects of the designed stopes and economic zones, and additional dilution consideration due to unplanned events, materials handling and other operating aspects. Mineable shapes were used as geometric constraints.

(6) Tonnage is expressed in thousands of tonnes; metal content is expressed in thousands of ounces. Metal prices and costs expressed in USD.

(7) Numbers have been rounded as required by reporting guidelines. Totals may not sum due to rounding.

PROCESSING & RECOVERY METHODS

To date, the Santa Elena processing plant processes a blended feed consisting of high-grade underground mineralized material and spent ore from the existing heap leach pad. The processing plant has been successfully operating for several years and has continuously improved silver and gold metallurgical recoveries. The process is based on cyanide tank leaching and Merrill-Crowe smelting of fine-ground ore to produce silver-gold doré bars. The nominal plant capacity is for the processing of 3,000 tpd with the possibility for higher throughput rates depending on ore hardness, targeted final grind and leaching residence time. Typical metal recoveries for the Santa Elena mineralized material ranged from 91% to 94% for silver and 94% to 97% for gold from the combination of run-of-mine production from the underground mine and the leach pad material.

With the introduction of mineralized material from Ermitaño, starting with industrial trials in Q4 2021 and commercial production in 2022, the plant is expected to continue to process Santa Elena blended material in campaigns alternating with mineralized material from Ermitaño. There are significant differences between these two ores in hardness and metallurgical performance at different grinding sizes. To achieve optimum levels of metal recoveries and the corresponding maximum metal production, the Santa Elena ore will be processed at higher throughput rates than the Ermitaño ore during their corresponding production campaigns. Average operating throughput targets are 3,350 and 2,350 tpd for Santa Elena and Ermitaño, respectively.

The process plant is mostly built as a single train with the crushing area split from the remaining areas and connected through a belt conveyor to transfer the crushed product to the fine stockpiles. The current leaching plant includes a grinding ball mill, one Outotec HIG-Mill, leaching tanks, three counter-current decantation or washing tanks, a previously processed leach-pad, a belt-filter facility and a filtered-tailings storage facility. The processing plant is planned to be modified with the commissioning of a new filter-press, an additional leaching tank and a fourth CCD thickener in the fourth quarter of 2022.

Due to the high purity of the Santa Elena doré (>98% silver and gold), no penalties are applied by the refineries for the presence of heavy metals. This purity is expected to be maintained after processing the Ermitaño ore.

CAPITAL & OPERATING COSTS

The Santa Elena mine has been under First Majestic operation since October 2015. The sustaining capital expenditures are budgeted on an as-required basis, established on actual conditions at the mine and the processing plant infrastructure. The LOM plan includes estimates for sustaining capital expenditures for the mining and processing activities required. Sustaining capital expenditures will mostly be allocated for on-going development, infill drilling, mine equipment rebuilding, major equipment overhauls or replacements, plant maintenance and on-going refurbishing, and for tailings management facilities expansion as needed.

The amount of exploration conducted to find new targets, with the objective of replacing and/or expanding the Mineral Resources will be dependent on the success of exploration and diamond drilling programs. Sustaining capital is focused on maintaining current operational capacities, plant and equipment, while expansionary capital is focussed on expanding new sources of mineralization.

The Ermitaño project continues development towards the western limit of the mineralized zone, which is planned to be mined at the beginning of 2022. The mining activities are being completed by an experienced contractor that also operates at the Santa Elena mine. Estimated expenses for development are based on existing contracts as it is proposed that contractors continue carrying out all mine waste development.

Included in the capital expense is an allocation for infill exploration drilling to support the LOM plan presented in the Technical Report. Table 7 presents the consolidated summary of the capital expenditures for Santa Elena and Ermitaño.

Table 7: Santa Elena Consolidated Capital Costs Summary

Type Units Total 2021 2022 2023 2024 2025 2026 2027
Shared Capital (Surface) $ M $23.7 $1.1 $22.4 $0.2 - - - -
Mining Development $ M $70.0 $18.0 $28.4 $19.8 $3.4 $0.4 - -
Property, Plant & Equipment $ M $100.8 $20.6 $27.6 $21.4 $8.5 $10.3 $11.1 $1.3
Total Capital Costs $ M $194.5 $39.7 $78.3 $41.5 $12.0 $10.7 $11.1 $1.3

 

The consolidated average cash costs are estimated at $105/tonne, including royalties and selling costs. Operating costs exclude the streaming impacts on the Santa Elena revenue, where approximately 6.3% of the revenue from the Santa Elena mine, including the leach pad, is paid to a third party. Revenue from the Ermitaño mine is subject to a 4% NSR royalty. Estimated royalty payments are included in the operating cost summary as presented in Table 8 and Table 9.

Table 8: Complex Average Unit Operating Costs

Type $/tonne
Mining Cost $57.6
Processing Cost $39.0
Indirect Costs $2.8
Total Production Cost $99.3
Refining, Selling Costs $0.8
Royalties $4.9
Total Cash Cost $105.1

 

Table 9: Santa Elena Consolidated Annual Operating Costs

Type Units Total 2021 2022 2023 2024 2025 2026 2027
Mining Cost $ M $287.6 $29.5 $67.5 $55.4 $44.5 $36.6 $35.0 $19.2
Processing Costs $ M $194.7 $15.9 $33.2 $33.1 $33.9 $31.2 $29.3 $18.0
Indirect Costs $ M $14.1 $1.1 $2.3 $2.3 $2.3 $2.3 $2.3 $1.5
Total Production Cost $ M $496.3 $46.6 $102.9 $90.8 $80.6 $70.1 $66.6 $38.7
Refining, Selling Costs $ M $4.0 $0.3 $0.8 $0.7 $0.8 $0.7 $0.5 $0.2
Royalties $ M $24.5 $0.6 $3.7 $6.9 $5.9 $3.4 $2.5 $1.5
Total Cash Cost $ M $524.9 $47.6 $107.5 $98.3 $87.3 $74.2 $69.6 $40.4

 

QUALIFIED PERSONS NI 43-101 TECHNICAL REPORT

This news release has been reviewed and approved by Ramón Mendoza Reyes, P.Eng., Vice President of Technical Services and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). In addition, the technical information in this news release has also been reviewed and approved by the following Qualified Persons: Phillip J. Spurgeon, P. Geo., Maria Elena Vazquez Jaimes, P. Geo. and Persio Pellegrini Rosario, P. Eng.

APPOINTMENT OF VICE-PRESIDENT OF EXPLORATION

Mr. Gonzalo Mercado is a Professional Geologist, who brings over 20 years of global geological experience to the First Majestic team. Mr. Mercado is a geology graduate from the National University of Tucuman in Argentina and commenced his mining career with Barrick Gold in Argentina. During his career at Barrick, he held the roles of Senior Exploration Geologist, Project Geologist, Country Manager of Geology, Senior Project Manager, as well as time in the Toronto Corporate head office working with the Business Development Group on acquisitions and investor relations. Most recently Mr. Mercado has been the exploration leader for Nevada Gold Mines, a joint venture between Barrick Gold and Newmont Mining, where he was responsible for all exploration activities within Nevada.

ABOUT THE COMPANY

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

"signed"

Keith Neumeyer, President & CEO

Cautionary Note Regarding Forward Looking Statements

This press release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; commercial mining operations; cash flow; budgets; the timing and amount of estimated future production; ore grades; recovery rates; rates of return; mine plans and mine life; integration of operations; future sales; the future price of silver and other metals; costs of production; costs and timing of development at the Company's projects; estimates of royalty payments; commencement of initial batch test processing at the Santa Elena processing plant; capital projects and exploration activities and the possible results thereof. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward‐looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements".

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19, and any other pandemics on our operations and workforce, and the effects on global economies and society, risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes relative to specifications and expectations; accidents; labour relations; relations with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion of development or construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in the Company's most recent Annual Information Form, available on www.sedar.com, and Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although First Majestic has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104977

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First Majestic Files Updated Technical Report for the Santa Elena Silver/Gold Mine in Sonora, Mexico Including a Positive Pre-Feasibility Study for the Ermitaño Project; Appoints Vice-President of Exploration
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First Majestic Produces 3.3M Oz Silver and 46,545 Oz Gold (6.4M Silver Eqv. Oz) in the Second Quarter of 2021 - Announces Updated 2021 Guidance, New Board Appointment and Conference Call Details
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First Majestic Announces Voting Results from Annual General Meeting and Management Update
May 6, 2021
First Majestic Reports First Quarter Financial Results, Inaugural Dividend Payment, and Appointment of VP Operations
April 30, 2021
First Majestic Completes Acquisition of Jerritt Canyon Mine in Nevada, USA and Private Placement with Eric Sprott
April 14, 2021
First Majestic Produces 2.9M Oz Silver and 23,873 Oz Gold (4.5M Silver Eqv. Oz) in the First Quarter of 2021
March 31, 2021
First Majestic Files Updated Technical Reports, 2020 Mineral Reserve and Mineral Resource Estimates & Appoints New Director
March 30, 2021
First Majestic Updates ESG Sustainability Activities Aimed at Helping Local Communities and Improving the Environment
March 18, 2021
First Majestic Renews Share Repurchase Program
March 12, 2021
First Majestic Announces Acquisition of Jerritt Canyon Mine in Nevada, USA
March 10, 2021
First Majestic Responds to Inaccurate Media Reports and Provides Update on Tax Dispute with the Government of Mexico
March 5, 2021
First Majestic Awarded as Socially Responsible Business in Mexico
March 2, 2021
First Majestic Initiates International Arbitration Request under NAFTA against the Government of Mexico
February 18, 2021
First Majestic Announces Financial Results for Q4 2020, FY2020 and Appointment of New Director
January 28, 2021
First Majestic Responds to Market Activity
January 20, 2021
First Majestic Produces 5.5M Silver Eqv. Oz in Q4 2020 (3.5M Silver Oz and 26K Gold Oz); Provides 2021 Outlook and Conference Call Details
December 7, 2020
First Majestic Announces Inaugural Dividend Policy
November 12, 2020
First Majestic to Appeal Circuit Court Decision to Nullify APA
November 5, 2020
First Majestic Reports Third Quarter Financial Results – Generates Record Revenues, Cash Flows and Earnings
October 13, 2020
First Majestic Produces 3.2M Oz Silver and 25,771 Oz Gold (5.2M Silver Eqv. Oz) in the Third Quarter
September 25, 2020
First Majestic Provides SAT Tax Dispute Update
September 21, 2020
First Majestic Announces Filing of Early Warning Report for Acquisition of Shares of Silver Dollar Resources Inc.
September 17, 2020
First Majestic Announces Closing of CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
September 10, 2020
First Majestic Announces CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
September 1, 2020
First Majestic Publishes ESG and Sustainability Report
August 6, 2020
First Majestic Reports Second Quarter Financial Results
July 15, 2020
First Majestic Produces 3.5 Million Silver Equivalent Ounces from Partial Operations in Second Quarter; Updates 2020 Guidance & Announces Conference Call Details
July 2, 2020
First Majestic Completes Acquisition of Springpole Silver Stream
June 11, 2020
First Majestic Acquires Silver Stream on First Mining’s Springpole Project
June 10, 2020
First Majestic Announces Voting Results from Annual General Meeting and Appointment of New Director
May 14, 2020
First Majestic Reports First Quarter Financial Results; Temporarily Postpones the Sale of Silver and Gold Due to COVID-19; Announces Operational Restart Procedures
May 13, 2020
First Majestic Initiates NAFTA Arbitration Process Against Mexico for Violating International Law
April 14, 2020
First Majestic Produces 6.2 Million Silver Equivalent Ounces in First Quarter
April 3, 2020
First Majestic Provides Update on Operations in Response to COVID-19
March 30, 2020
First Majestic Updates 2019 Mineral Reserve and Resource Estimates
March 27, 2020
First Majestic Acquires Shares in GR Silver - Early Warning
March 18, 2020
First Majestic Renews Share Repurchase Program
February 24, 2020
First Majestic Announces High-Grade Drill Results from its 2019 Exploration Program at the Ermitaño project within the Santa Elena land package
February 19, 2020
First Majestic Announces Financial Results for Q4 and Year End 2019
February 3, 2020
First Majestic Announces New Chief Operating Officer
January 21, 2020
First Majestic Announces 2020 Production and Cost Guidance
January 15, 2020
First Majestic Produces 6.2M Ounces in Q4 and Record 25.6M Ounces in 2019; Announces New Director & Conference Call Details
November 7, 2019
First Majestic Reports Third Quarter Financial Results
October 15, 2019
First Majestic Produces 6.6 Million Silver Equivalent Ounces in Third Quarter
August 7, 2019
First Majestic Reports Second Quarter Financial Results and Updates 2019 Production and Cost Guidance
July 15, 2019
First Majestic Produces 6.4 Million Silver Equivalent Ounces in Second Quarter; Provides Conference Call Details
May 24, 2019
First Majestic Announces Voting Results from Annual General Meeting and Management Changes
May 9, 2019
First Majestic Reports First Quarter Financial Results
May 1, 2019
First Majestic First Quarter Financial Results to be Released on May 9
April 16, 2019
First Majestic Produces 6.3 Million Silver Equivalent Ounces in First Quarter
March 29, 2019
First Majestic Updates 2018 Mineral Reserve and Resource Estimates
March 19, 2019
First Majestic Renews Share Repurchase Program
February 25, 2019
First Majestic Announces High-Grade Drill Results from 2018 Exploration Program at the Ermitaño Silver/Gold Project; Permitting Status Update
February 25, 2019
First Majestic Announces Financial Results for Q4 and Year End 2018
January 14, 2019
First Majestic Produces a Record 22.2M Silver Eqv. Oz in 2018; Announces Higher 2019 Production Outlook & Conference Call Details
December 27, 2018
First Majestic Silver Corp. Announces At-The-Market Offering Equity Program
November 7, 2018
First Majestic Reports Third Quarter Financial Results
November 6, 2018
First Majestic Announces Updated Release Date for Third Quarter Financial Results
October 15, 2018
First Majestic Files Preliminary Base Shelf Prospectus
October 15, 2018
First Majestic Produces a Record 6.7 Million Silver Equivalent Ounces in Third Quarter
September 10, 2018
First Majestic and Evrim Resources Agree to Exercise of Ermitaño and Cumobabi Option Agreements
August 13, 2018
First Majestic Reports Second Quarter Financial Results
July 16, 2018
First Majestic Produces a Record 5.1M Silver Equivalent Ounces in Second Quarter; Increases 2018 Production Guidance to 20.5M - 22.6M Silver Equivalent Ounces
May 25, 2018
First Majestic Announces Voting Results from Annual General Meeting
May 10, 2018
First Majestic Announces New Stream Agreement at San Dimas Mine and New Credit Facility
May 10, 2018
First Majestic Completes Acquisition of Primero
May 9, 2018
First Majestic Announces Amendments to Advance Notice Policy
May 9, 2018
First Majestic Reports First Quarter Financial Results
May 9, 2018
Primero Announces Receipt of Mexican Antitrust Clearance for Arrangement With First Majestic and Files First Quarter Financial Statements on SEDAR
April 19, 2018
First Majestic Produces 3.9M Silver Eqv. Oz in First Quarter
March 29, 2018
First Majestic Updates Mineral Reserve and Resource Estimates for 2017 and Files Form 40-F Annual Report
March 19, 2018
First Majestic Renews Share Repurchase Program
March 13, 2018
Primero Announces Shareholders Vote In Favour Of Transaction With First Majestic
February 28, 2018
First Majestic Announces Financial Results for Q4 and Year End 2017
February 15, 2018
First Majestic announces Exercise and Closing of Over-Allotment Option
January 29, 2018
First Majestic Completes US$150 Million Convertible Senior Notes Offering
January 25, 2018
First Majestic Prices Offering of Convertible Senior Notes
January 24, 2018
First Majestic Launches Offering of Convertible Senior Notes
January 16, 2018
First Majestic Produces 16.2M Silver Eqv. Oz in 2017 (4.1M Silver Eqv. Oz in Q4); Announces 2018 Production Outlook and Cost Guidance
January 12, 2018
First Majestic Silver Announces Friendly Acquisition of Primero Mining and Restructured Stream with Wheaton Precious Metals
January 9, 2018
First Majestic Provides Review of 2017 Exploration Program and Plans for 2018
December 20, 2017
First Majestic files updated NI 43-101 technical reports on its Del Toro, La Parrilla and San Martin Silver Mines
November 2, 2017
First Majestic Reports Third Quarter Financial Results
October 17, 2017
First Majestic Produces 4.0M Silver Eqv. Oz in Third Quarter
October 3, 2017
First Majestic Reports Accident at La Encantada
August 3, 2017
First Majestic Reports Second Quarter Financial Results
July 11, 2017
First Majestic Produces 3.9M Silver Eqv. Oz in Second Quarter
June 2, 2017
First Majestic to Resume Operations at La Encantada
May 26, 2017
First Majestic Announces Voting Results from Annual General Meeting
May 24, 2017
First Majestic Announce illegal Blockade at La Encantada
May 4, 2017
First Majestic Reports First Quarter Financial Results
April 20, 2017
First Majestic Produces 4.3M Silver Eqv. Oz in First Quarter
March 31, 2017
First Majestic Updates Mineral Reserve and Resource Estimates for YE2016 and Files Form 40-F Annual Report
March 16, 2017
First Majestic Renews Share Repurchase Program
February 28, 2017
First Majestic Appoints New COO and New Member to Board of Directors
February 22, 2017
First Majestic Announces Financial Results for Q4 and Year End 2016
January 17, 2017
First Majestic Produces a Record 18.7M Silver Eqv. Oz in 2016 (4.4M Silver Eqv. Oz in Q4); Announces 2017 Production Outlook and Cost Guidance
November 9, 2016
First Majestic Reports Third Quarter Financial Results
October 27, 2016
Third Quarter Financial Results to be Released on November 9
October 13, 2016
First Majestic Achieves New Record in Silver Production; Produces 4.5 Million Silver Eqv. Ounces in Third Quarter
September 15, 2016
First Majestic Announces Resignation of Ramon Davila From Board of Directors
August 10, 2016
First Majestic Reports Second Quarter Financial Results
July 25, 2016
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 10
July 12, 2016
First Majestic Produces 4.7 Million Silver Eqv. Ounces in Second Quarter
May 27, 2016
First Majestic Announces Election of Directors
May 16, 2016
First Majestic Silver Corp. Changes Annual General Meeting Time
May 12, 2016
First Majestic Silver Corp. Announces Closing of C$50 Million Bought Deal Financing; Over-Allotment Option Fully Exercised
May 10, 2016
First Majestic Reports First Quarter Financial Results
May 5, 2016
First Majestic Revises Date of First Quarter Financial Results to May 10
April 25, 2016
First Majestic Silver Corp.: First Quarter Financial Results to be Released on May 11
April 22, 2016
First Majestic Silver Corp. Announces C$50 Million Bought Deal Financing
April 14, 2016
First Majestic Produces a Record 5.1 Million Silver Eqv. Ounces in First Quarter
March 31, 2016
First Majestic Updates Mineral Reserve and Resource Estimates for Year End 2015 and Files Form 40-F Annual Report
March 28, 2016
First Majestic Silver Corp. Announces Updated La Encantada NI 43-101 Technical Report
March 14, 2016
First Majestic Renews Share Repurchase Program
February 25, 2016
First Majestic Announces Financial Results for Q4 and Year End 2015
February 11, 2016
Fourth Quarter and Year End Financial Results to Be Released on February 25, 2016
February 11, 2016
First Majestic Secures $60 Million Credit Facility
January 19, 2016
First Majestic Produces 16.1M Silver Eqv. Oz in 2015 (4.8M Silver Eqv. Oz in Q4); Announces 2016 Production Outlook and Cost Guidance
November 16, 2015
First Majestic Reports Third Quarter Financial Results
October 14, 2015
First Majestic Produces 3.6 Million Silver Eqv. Ounces in Q3'15
October 1, 2015
First Majestic Completes Acquisition of SilverCrest
September 25, 2015
First Majestic and Silvercrest Announce Shareholder Approval of Plan of Arrangement
September 15, 2015
Leading Independent Advisory Firms ISS and Glass Lewis Recommend that SilverCrest and First Majestic Shareholders Vote FOR the Plan of Arrangement
August 27, 2015
First Majestic and SilverCrest Announce Receipt of Interim Order and Mailing of Meeting Materials
August 11, 2015
First Majestic Reports Second Quarter Financial Results and La Encantada Operational Update
July 30, 2015
First Majestic Silver: Second Quarter Financial Results to Be Released on August 11
July 27, 2015
First Majestic Announces Friendly Acquisition of SilverCrest Mines
July 9, 2015
First Majestic Produces 3.8 Million Silver Eqv. Ounces in Q2'15
May 22, 2015
First Majestic Announces Election of Directors
May 7, 2015
First Majestic Reports First Quarter Financial Results
April 23, 2015
First Quarter Financial Results to be Released on May 7
April 22, 2015
First Majestic Silver Corp. Announces Closing of C$30 Million Bought Deal Financing
April 13, 2015
First Majestic Produces 3.9 Million Silver Eqv. Ounces in Q1'15
April 13, 2015
First Majestic Produces 3.9 Million Silver Eqv. Ounces in Q1'15
April 6, 2015
First Majestic Announces Acquisition of Shares of First Mining Corp.
April 6, 2015
First Majestic Announces Promotion of Martin Palacios to Chief Transformation Officer
April 5, 2015
First Majestic Silver Corp. Announces C$30 Million Bought Deal Financing
March 31, 2015
Announces New La Guitarra NI 43-101 Technical Report
March 11, 2015
First Majestic Renews Share Repurchase Program
February 23, 2015
First Majestic Announces Financial Results for Q4 and Year End 2014
February 2, 2015
Fourth Quarter and Year End Financial Results to be Released on February 23, 2015
January 13, 2015
First Majestic Produces a Record 4.2M Silver Eqv. Oz in Q4 and Annual Record of 15.3M Silver Eqv. Oz in 2014; Announces 2015 Production Outlook and Cost Guidance
December 1, 2014
Supreme Court of Canada Dismisses Appeal Application by Hector Davila Santos
November 12, 2014
First Majestic Reports Third Quarter Financial Results
November 6, 2014
Conference Call Scheduled on November 12, 2014
October 31, 2014
Third Quarter Financial Results to be Released on November 12, 2014
October 14, 2014
Produces 3.5 Million Silver Eqv. Ounces in Q3; Postpones the Sale of 934K Silver Ounces of Inventory
August 22, 2014
First Majestic to List on the Mexican Stock Exchange
August 13, 2014
First Majestic Reports Second Quarter Financial Results
July 21, 2014
Second Quarter Financial Results to be Released on August 13, 2014
July 14, 2014
New Record of 3.86 million Silver Eqv. Ounces Produced in Q2; Announces Spin-out of Non-Core Exploration Properties
June 9, 2014
First Majestic Wins Application to Dismiss Appeal
May 29, 2014
First Majestic Announces Election of Directors
May 13, 2014
First Majestic Reports First Quarter Financial Results
May 1, 2014
First Quarter Financial Results to be Released on May 13
April 15, 2014
First Majestic Announces US$30M Forward Sale Contract on Lead Production
April 8, 2014
First Majestic's Q1 Production Reaches New Record of 3.63 million Silver Equivalent Ounces
April 4, 2014
First Majestic Appoints VP of Technical Services
March 27, 2014
First Majestic Updates Reserves and Resource Estimates and Files Form 40-F Annual Report
March 10, 2014
First Majestic Announces Extension of Share Repurchase Program
March 3, 2014
First Majestic Announces Changes to Operations and Geological Teams
February 26, 2014
First Majestic Announces Financial Results for Q4 and Year End 2013
February 3, 2014
Fourth Quarter and Year End Financial Results to be Released on February 26, 2014
January 14, 2014
First Majestic becomes a Senior Silver Producer; Produces 10.64M Ounces of Silver in 2013; Projects 12.70M to 13.35M Ounces of Silver in 2014
December 23, 2013
First Majestic Announces Retirement of Robert Young from Board of Directors
December 4, 2013
Silver Doré Production Commences at the Del Toro Silver Mine
November 12, 2013
First Majestic Reports Third Quarter Financial Results
October 30, 2013
Third Quarter Financial Results to be Released on November 12th
October 24, 2013
Appeal Against First Majestic Dismissed
October 16, 2013
First Majestic Produces a New Record of 3.37 million Silver Equivalent Ounces
September 30, 2013
First Majestic Applies to Dismiss Appeal of Positive Judgment for US$93.84 million
August 13, 2013
First Majestic Reports Second Quarter Financial Results
July 15, 2013
Second Quarter Financial Results to be Released on August 13th
July 10, 2013
First Majestic Produces a New Quarterly Record of 3.27 Million Silver Eqv. Ounces
July 2, 2013
Payment of CDN$14.85 million Received in Court Litigation
May 28, 2013
Updated San Martin NI 43-101 Technical Report and Economic Assessment
May 24, 2013
First Majestic Announces Election of Directors
May 15, 2013
First Majestic Reports First Quarter Earnings of $26.5 million on Revenues of $67.1 million
May 7, 2013
First Quarter Financial Results to be Released on May 15th
May 2, 2013
First Majestic Announces Completion of La Guitarra's Expansion to 500 tpd
April 26, 2013
First Majestic Receives Positive Judgment for US$89.6 in Court Litigation
April 17, 2013
First Majestic Earns Socially Responsible Business Distinction Award for Fifth Consecutive Year
April 15, 2013
First Majestic Produces Another Quarterly Record 2.73 Million Silver Eqv. Ounces
April 9, 2013
First Majestic Silver: Del Toro Silver Mine Flotation Circuit Deemed Commercial
March 28, 2013
First Majestic Files Form 40-F Annual Report
March 11, 2013
First Majestic Announces Share Repurchase Program
February 26, 2013
First Majestic Announces Financial Results for Q4 and Year End 2012
February 20, 2013
First Majestic Silver to Announce Fourth Quarter and Year End 2012 Financial Results
February 19, 2013
First Majestic Elects Not to Exercise Right to Match Coeur's Offer for Orko
February 14, 2013
First Majestic Considering Superior Offer from Coeur to Acquire Orko Silver
January 25, 2013
First Majestic Silver Corp.: Production Commences at the Del Toro Silver Mine
January 9, 2013
First Majestic Silver Corp.: Achieved Record Production of 2.6M Silver Eqv. Ounces (2.3M Silver Ounces) in Q4; Produced a Record 9.1M Silver Eqv. Ounces (8.3M Silver Ounces) in 2012
January 2, 2013
First Majestic Appoints VP of Operations
December 19, 2012
First Majestic Announces US$50M Forward Sale Contract on Base Metals
December 16, 2012
First Majestic Announces Friendly Acquisition of Orko Silver
November 14, 2012
First Majestic Earns $24.9M in Third Quarter; Revenues of $63.6M, an Increase of 4%
November 7, 2012
First Majestic Silver Corp.: Third Quarter Financial Results to Be Released on November 14th
October 10, 2012
First Majestic Produces a Record 2.44 Million Silver Equivalent Ounces in Third Quarter
August 27, 2012
First Majestic Announces Appointment of VP of Exploration
August 21, 2012
First Majestic Silver Corp.: Updated Del Toro NI 43-101 Technical Report & Final Permit Received
August 16, 2012
First Majestic Recognized as a Leader in Corporate Social Responsibility
August 14, 2012
First Majestic Reports Second Quarter Financial Results
August 7, 2012
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 14th
July 17, 2012
First Majestic Produces 2.1 Million Silver Equivalent Ounces in Second Quarter
July 3, 2012
First Majestic Completes Acquisition of Silvermex Resources
June 26, 2012
Silvermex Securityholders Approve Plan of Arrangement With First Majestic
May 22, 2012
First Majestic Silver Corp.: Del Toro NI 43-101 Technical Report & Pre-Feasibility Study
May 10, 2012
First Majestic Reports Strong Earnings of $26.4M in Q1 2012, Up 10% Compared With Q1 2011; Revenues Top $57.8M, Up 5% From Q1 2011
April 16, 2012
First Majestic Silver Corp.: First Quarter Production Results and Full Commencement of Commercial Production at La Parrilla
April 3, 2012
First Majestic Announces Friendly Acquisition of Silvermex Resources
March 30, 2012
First Majestic Files Form 40-F Annual Report
March 5, 2012
First Majestic Announces New Record Earnings & Cash Flows for 2011
February 24, 2012
First Majestic Silver to Announce Fourth Quarter and Year End 2011 Financial Results
January 24, 2012
First Majestic Silver Corp.-La Parrilla Mill Expansion to 2,000 tpd Completed: Del Toro Construction Update
January 12, 2012
First Majestic Silver Corp. Achieved Record Production of 1.96M Silver Ounces (2.1M Silver Eqv. Ounces) in Q4; Produced a Record 7.6M Silver Eqv. Ounces in 2011
January 4, 2012
First Majestic Appoints Chief Information Officer
December 30, 2011
First Majestic Names Douglas Penrose as Chairman
November 9, 2011
First Majestic Silver Corp.: Earnings Hit $27.8 Million in Third Quarter
October 26, 2011
First Majestic Silver Corp.: Third Quarter Financial Results to be Released on November 9th
October 12, 2011
First Majestic Announces Q3 Production Results and Commences Commercial Production at La Parrilla
October 7, 2011
First Majestic Silver Corp.: Third Quarter Production Results to Be Released on October 12, 2011-Conference Call Scheduled
September 20, 2011
First Majestic Silver Corp.: First Stage of Expansion at the La Parrilla Processing Plant Completed
September 13, 2011
First Majestic Silver Corp.: Mill Capacity at La Parrilla to Reach 2,000 tpd Following Positive NI 43-101 Pre-Feasibility Study
August 11, 2011
First Majestic Silver Corp.: Record Earnings of $30.6 million in Second Quarter
August 3, 2011
First Majestic Silver Corp.: Second Quarter Financial Results to be Released on August 11th
July 7, 2011
First Majestic Silver Corp.: Another Record Quarter of Silver Production
May 16, 2011
First Majestic Earns a Record $23.9 Million in First Quarter of 2011
April 7, 2011
First Majestic Silver Corp.: Silver Production Up 25%; Reaches 97% Pure Silver and Maintains Status as "Purest Silver Company in the World"
March 31, 2011
First Majestic Files Form 40-F Annual Report
March 31, 2011
First Majestic Silver Corp.: Update on the Del Toro Silver Mine
February 28, 2011
First Majestic Silver Corp.: 2010 Audited Financial Results Show Record Earnings & Cash Flows; A Breakout Year for First Majestic
January 11, 2011
First Majestic Silver Corp.: Production Up 72% to 6.53 Million oz Ag in 2010; Exceeds Guidance by 9%
December 13, 2010
First Majestic to List on the New York Stock Exchange
December 6, 2010
First Majestic Silver Corp.: La Parrilla Expansion to 1,600 Tonnes Per Day
November 10, 2010
First Majestic Acquires Surface Rights, Royalties and Infrastructure at Real De Catorce Silver Project
November 9, 2010
First Majestic Silver Corp.: Another Record Quarter of Earnings and Cash Flows
October 6, 2010
First Majestic Silver Corp.: Another New Record for Silver Production; 1,823,370 oz Silver Produced in Q3
August 16, 2010
First Majestic Silver Corp.: Record Earnings and Cash Flows. Purest Silver Producer With 93% of Revenue From Silver Production
July 8, 2010
First Majestic Silver Corp.: New Record for Silver Production; Produces 1,538,798 oz Silver
May 13, 2010
First Majestic Silver Corp.: First Quarter Marks 5th Consecutive Quarter of Net Income
April 22, 2010
First Majestic Silver Corp.: 2nd Year Running for Mexican Distinction as a "Socially Responsible Business"
April 13, 2010
First Majestic Silver Corp.: Conference Call to discuss First Quarter Silver Production and Year End Financial Results
April 12, 2010
First Majestic Silver Corp.: Production Increases by 30% to 1,619,403 Equivalent Ounces Silver
April 8, 2010
First Majestic Silver Corp.: La Encantada Achieves Commercial Production
March 24, 2010
First Majestic Silver Corp.: Conference Call to Discuss First Quarter Silver Production and Year End Financial Results
March 22, 2010
First Majestic Silver Corp.: Year End & Fourth Quarter Financial Results
January 11, 2010
First Majestic Silver Corp.: Production Increases by 18%, Reaches New Record
November 26, 2009
First Majestic Silver Corp.: La Encantada Opening Ceremony & Production of First Silver Precipitates
November 13, 2009
First Majestic Completes Acquisition of Normabec Mining Resources; Normabec Spins Out Brionor Resources Inc.
November 12, 2009
First Majestic Silver Corp.: Record Third Quarter Financial Results
November 6, 2009
Normabec Shareholders Approve Plan Of Arrangement With First Majestic
October 13, 2009
First Majestic Silver Corp.: La Encantada Expansion Nearing Completion
October 6, 2009
First Majestic Silver Corp.: Third Quarter Production Results
September 18, 2009
First Majestic Silver Corp.: Settlement of Current Liabilities Closes
September 16, 2009
First Majestic Silver Corp.: Second Tranche of Non-Brokered Private Placement Closes
September 14, 2009
First Majestic to Acquire Normabec Mining Resources
August 20, 2009
First Majestic Silver Corp.: First Tranche of Non-Brokered Private Placement Closes
August 13, 2009
First Majestic Silver Joins OTCQX
August 12, 2009
First Majestic Silver Corp.: Non-Brokered Private Placement and Debt Settlement
July 20, 2009
Second Quarter Production Results
July 16, 2009
Update of Litigation
May 14, 2009
First Majestic Silver Corp.: First Quarter Financial Results
April 27, 2009
First Majestic Silver Corp.: Silver Production Increases 4% in 1st Quarter
March 31, 2009
2008 Year End Financial Results
March 23, 2009
First Majestic Receives Mexican Distinction as a "Socially Responsible Business"
March 17, 2009
First Majestic Silver Corp.: La Parrilla Receives "Clean Industry Certification"
March 5, 2009
First Majestic Silver Corp.: Closing of $21.2 Million Offering
February 26, 2009
First Majestic Silver Corp.: Resource Disclosure Clarification
February 19, 2009
First Majestic Announces Pricing of Offering
February 18, 2009
First Majestic Announces C$25 Million Offering
February 17, 2009
First Majestic Silver Corp.: La Parrilla Silver Mine Updates NI 43-101 Resource
January 20, 2009
First Majestic Silver Corp.: San Martin Updated NI 43-101 Report Increasing Reserves/Resources by 45.81%
January 13, 2009
First Majestic Silver Corp.: Production Increases 27% in 4th Quarter
December 23, 2008
First Majestic Silver Corp.: La Encantada Updated NI 43-101 Report Increasing Reserves By 183%
November 19, 2008
First Majestic Silver Corp.: Operations Update
November 14, 2008
First Majestic Silver Corp.: Third Quarter Financial Results
October 28, 2008
First Majestic Silver Corp.: Another Major Intersection at Del Toro Silver Mine, Drill Hole Cuts 62.05 Metres (203.58 ft) of 422 g/t Ag, 6.29% Pb, 6.78% Zn & 0.74 g/t Au
October 23, 2008
First Majestic Silver Corp.: 3rd Quarter Production Results
October 10, 2008
First Majestic Silver Corp.: Del Toro Silver Mine NI 43-101 Resources of 57 Million Ag eqv. Ounces
September 11, 2008
First Majestic Silver Corp.: Many Positive Developments Underway
August 15, 2008
First Majestic Silver Corp.: Second Quarter Financial Results
July 17, 2008
First Majestic Silver Corp.: Major Intersection at San Juan Silver Mine; Drill Hole Intersects 74.20 Metres (243 ft) of 359 g/t Ag, 7.07% Pb & 7.60% Zn
July 15, 2008
First Majestic Silver Corp.: 2nd Quarter Production Shows Continued Ramp-Up
June 10, 2008
First Majestic Silver Corp.: Major Expansion Launched at La Encantada Silver Mine
May 16, 2008
First Majestic Silver Corp.: Record First Quarter Financial Results
April 29, 2008
First Majestic Silver Corp.: 1st Quarter Production Results
April 22, 2008
First Majestic Silver Corp.: Commissioning of Flotation Circuit at the San Martin Silver Mine
April 17, 2008
First Majestic Silver Corp.: 2007 Year End Financial Results
April 4, 2008
First Majestic Silver Corp.: Exercise and Closing of Over-Allotment Option
April 1, 2008
First Majestic Silver Corp.: Discovery of New High Grade Ore Shoot on the Vacas Vein at the La Parrilla Silver Mine
March 25, 2008
First Majestic Silver Corp.: Closing of $45,475,000 Offering
March 5, 2008
First Majestic Silver Corp.: Drill Intersects 39.6 Metres of 199 g/t Ag, 3.92% Pb & 4.02% Zn at San Juan Silver Mine
January 30, 2008
La Parrilla Silver Mine Update and New NI 43-101 Resource
January 17, 2008
Another Record Quarter of Silver Production
January 14, 2008
Toronto Stock Exchange Listing
December 13, 2007
TSX Conditional Approval
December 3, 2007
Update on the Chalchihuites Group of Properties
November 29, 2007
Highlights from 3rd Quarter Financial Statements
November 13, 2007
Update on the Cuitaboca Silver Project
October 23, 2007
Another Record Quarter of Silver Production
August 30, 2007
Highlights from 2nd Quarter Financial Statements
July 26, 2007
Second Quarter Silver Production Increases
July 4, 2007
La Parrilla Silver Mine Update and New NI 43-101 Resource
June 18, 2007
La Encantada Silver Mine Update and new NI 43-101 Resource
May 31, 2007
Highlights from 1st Quarter Financial Statements
May 28, 2007
San Martin Silver Mine Update and new NI 43-101 Resource
May 10, 2007
Closing of $34,415,000 Private Placement
April 28, 2007
Silver Production increases by 38%
April 20, 2007
Financing Amended
March 28, 2007
First Majestic Files Preliminary Short Form Prospectus

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