Silver Price: $22.34
NYSE: AG $10.05
TSX: FR $13.58
Frankfurt: FMV €8.66

First Majestic Silver Corp. Announces Updated La Encantada NI 43-101 Technical Report

March 28, 2016

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 28, 2016) - FIRST MAJESTIC SILVER CORP. (the "Company" or "First Majestic") (FRANKFURT:FMV)(TSX:FR)(NYSE:AG)(BVM:AG) is pleased to provide an updated NI 43-101 Technical Report including Mineral Reserve and Resource estimates for the La Encantada Silver Mine located in the State of Coahuila, Mexico. First Majestic is reporting Mineral Resources inclusive of Mineral Reserves; readers are cautioned of this change since the Company had previously reported La Encantada's Mineral Resources exclusive of Mineral Reserves in its previous Technical Report. The silver price used for reserve estimates was reduced to $17.50/oz, or 12.5% lower compared to the previous estimate of $20.00/oz. All amounts are in U.S. dollars unless stated otherwise.

REPORTED HIGHLIGHTS

  • Proven and Probable Reserves totalling 6.7 million tonnes containing 30.6 million ounces of silver with an average silver grade of 143 g/t, including 1.5 million tonnes containing 10.1 million ounces of silver with an average silver grade of 214 g/t
  • Measured and Indicated Resources of 6.1 million tonnes containing 31.4 million ounces of silver
  • Inferred Resources totalling 0.9 million tonnes containing 7.2 million ounces of silver
  • Life of Mine (LOM) of 8.5 years assuming tailings reprocessing with roaster, with a Net Present Value of $28.6 million based on a 5% discount rate.
  • Increase of silver recoveries in tailings from 15% to 70% using roasting
  • Additional exploration potential around Ojuelas deposit and skarn dome

Keith Neumeyer, CEO and President, states: "It's great to see that despite our production of over 23 million ounces of silver since our last 43-101 report seven years ago, reserve and resources have held up very well. The potential at La Encantada for discovery and development of additional ounces is high, however, as a result of reduced budgets in this low metal price environment, exploration and development are two of the areas of the business that have been most critically affected. As the environment improves in the coming years, the Company's intention is to increase investment in these areas in order to improve grades and Life of Mine."

The La Encantada Silver Mine, located in northern Mexico in the State of Coahuila, consists of 22 mining concessions covering 4,076 hectares (10,072 acres). La Encantada is an underground silver mine comprised of two processing facilities, 180 houses for accommodation of employees, offices, warehouses, a recreational club, restaurants, guest houses, three schools, a church, a hospital, water wells and an airstrip.

Since its prior Technical Report cut-off date of October 1, 2008, to the effective cut-off date of December 31, 2015 used for the Mineral Reserves and Resource estimates, First Majestic has led several exploration programs at La Encantada which has generated 89,426 metres of diamond drilling over a total of 591 holes. Underground drilling consisted of 68,371 metres in 469 holes in addition to 21,056 metres of surface drilling in 122 holes. The most important underground areas drilled over this period of time include the NE-trending system of veins (Buenos Aires, Azul y Oro, 990, 990-2, El Regalo and San Francisco dike), the Milagros area (San Javier breccia, Milagros breccia and Milagros intrusion) and the recently discovered Ojuelas deposit and skarn dome.

The updated Mineral Resource and Mineral Reserve estimates for La Encantada are shown below and are classified in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014).

Proven and Probable Mineral Reserves, with an effective date of December 31, 2015

Category Mineral
Type
k
tonnes
Ag
(g/t)
Pb
(%)
Ag-Eq
(g/t)
Ag
(k Oz)
Ag-Eq
(k Oz)
Proven (UG) Oxides 251 247 - 247 1,991 1,991
Probable (UG) Oxides 1,473 214 - 214 10,120 10,120
Probable (UG) Oxides - Flotation 809 147 2.35 196 3,817 5,093
Probable (Tailings) Oxides 4,138 110 - 110 14,633 14,633
Total Proven and Probable (UG) Oxides + Tailings 6,670 143 0.29 148 30,561 31,837
(1) Mineral Reserves have been 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) Metal prices considered for Vein System and other Minor Deposits, San Javier and Milagros Breccias and Tailings Deposit was $17.50 USD/oz Ag, and for Ojuelas were $18.00 USD/oz Ag, $0.90 USD/lb Pb.
(3) Cut-off grade considered for the Veins System, other minor deposits and the San Javier and Milagros Breccias was 140 g/t Ag and is based on actual and estimated operating and sustaining costs.
(4) Cut-off considered for Ojuelas was a NSR $53.91/t and is based on estimated operating cost, sustaining costs and the production schedule ran in PCBC.
(5) Cut-off grade considered for Tailings Deposit No. 4 was 85 g/t Ag and is based on estimated operating cost and sustaining costs.
(6) Silver metallurgical recovery used was 58% for the Veins System, other minor deposits and the San Javier and Milagros Breccias.
(7) Metallurgical recovery used for Ojuelas was 67% for silver and 60% for lead.
(8) Metallurgical recovery used for Tailings Deposit No. 4 was 53% for silver.
(9) Metal payable used for the Veins System, other minor deposits, the San Javier and Milagros Breccias and Tailings Deposit No. 4 was 99.6%.
(10) Metal payable used for Ojuelas was 95% for silver and 95% for lead.
(11) Tonnage is expressed in thousands of tonnes, metal content is expressed in thousands of ounces.
(12) Totals may not add up due to rounding.
(13) Dilution for Veins System and other Minor deposits was estimated at 15%, dilution for San Javier and Milagros Breccias was estimated at 40%, dilution for Ojuelas was estimated at 20% and dilution for Tailing Deposit No. 4 was estimated at 3%.
(14) Mineral Reserves estimates for the Ojuelas area, the San Javier Breccia, Milagros Breccia, Vein Systems areas were prepared under supervision of Ramon Mendoza Reyes, PEng, QP Mining for First Majestic.

Measured and Indicated Mineral Resources, with an effective date of December 31, 2015

Category Mineral
Type
k
tonnes
Ag
(g/t)
Pb
(%)
Ag-Eq
(g/t)
Ag
(k Oz)
Ag-Eq
(k Oz)
Measured (UG) Oxides 283 267 - 267 2,433 2,433
Indicated (UG) Oxides 854 299 - 299 8,198 8,198
Indicated (UG) Oxides - Flotation 734 246 4.07 325 5,795 7,662
Indicated (Tailings) Oxides 4,222 110 - 110 14,931 14,931
Total Measured and Indicated (UG) Oxides + Tailings 6,093 160 0.49 170 31,357 33,224

Inferred Mineral Resources, with an effective date of December 31, 2015

Category Mineral
Type
k
tonnes
Ag
(g/t)
Pb
(%)
Ag-Eq
(g/t)
Ag
(k Oz)
Ag-Eq
(k Oz)
Inferred Ojuelas (UG) Oxides 35 292 0.78 305 325 340
Inferred other deposits (UG) Oxides 871 244 - 244 6,829 6,829
Inferred Total (UG) Oxides 905 246 0.03 246 7,154 7,169
(1) Mineral Resources 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 National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
(2) Metal prices considered for all deposits were $18.50 USD/oz Ag, with the exception of Ojuelas which used $18.00 USD/oz Ag and $0.95 USD/lb Pb.
(3) Cut-off grade considered for the Veins System, other Minor Deposits, the San Javier and Milagros Breccias was 130 g/t Ag, cut-off grade for Ojuelas was 135 g/t Ag-Eq, and cutoff grade for Tailings Deposit No. 4 was 85 g/t Ag. Cut-off estimates are based on actual and budgeted operating and sustaining costs.
(4) Metallurgical recovery of silver was assumed 58% for the Veins System, other Minor Deposits and the San Javier and Milagros Breccias.
(5) Metallurgical recovery used for Ojuelas was 67% for silver and 60% for lead.
(6) Metallurgical recovery of silver for Tailings Deposit No. 4 was assumed at 53%.
(7) Metal payable used for the Veins System, other minor deposits, the San Javier and Milagros Breccias and Tailings Deposit No. 4 was 99.6%.
(8) Metal payable used for Ojuelas was 95% for silver and 95% for lead.
(9) Silver equivalent grade for Ojuelas is estimated as:
Ag-Eq = Ag Grade + (Pb Grade x Pb Recovery x Pb Payable x Pb Price x 2204.62) / (Ag Recovery x Ag Payable x Ag Price / 31.1035).
(10) Tonnage is expressed in thousands of tonnes, silver content in thousands of ounces and lead content in thousands of pounds.
(11) Totals may not add up due to rounding.
(12) Measured an Indicated Mineral Resources are reported inclusive or Mineral Reserves.
(13) Mineral Resources estimates for the San Javier Breccia, Milagros Breccia, Vein Systems areas and Tailings Deposit No. 4 were prepared under supervision of Jesus M. Velador Beltran, QP Geology for First Majestic and estimates for the Ojuelas area were prepared under supervision of Peter Oshust, P.Geo. of Amec Foster Wheeler.

The updated Mineral Reserve and Resource estimate consists of 30.6 million ounces of silver in the Proven and Probable Reserve category, representing a 9% increase primarily due to the upgrading of tailings to reserves, offset by annual depletion and the lower silver price assumption; 31.4 million ounces of silver in Measured and Indicated Resources, representing a decrease of 15% from the previous estimate; plus 7.2 million silver ounces in Inferred Resources representing a 23% decrease from the previous estimate due to the upgrading of the tailings resource to reserves. There is further upside potential for total ounces assuming exploration success and conversion of the Inferred Resource to Measured and Indicated Resources or Proven and Probable Reserves through additional drilling and development.

IMPROVING RECOVERIES WITH ROASTING

Since 2012, the Company has evaluated numerous technologies and milling procedures to improve metallurgical recoveries of the existing aboveground tailings. The Company began testing ore samples using an onsite 50 tpd roasting furnace in early 2013. Initial test results showed substantial improvements in silver recoveries, increasing from approximately 15% to 70%. However, due to the high cost of diesel used as the energy source for roasting, the Company deemed the project uneconomical and continued testing alternative heating sources. In 2015, an instrumented 25 tpd roasting pilot plant was built offsite to test the use of propane and results confirmed the improvement in silver recoveries, in addition, leaching times were reduced from 72 hours to less than 36 hours. The Company also began testing the use of coal, routinely used as a heating source in roasters in the cement industry in Mexico, as a source of low cost energy. Preliminary results indicate that the roasting project using coal is economical at current silver prices, allowing the Company to proceed with additional operational and economic studies as well as full-scale plant design. The estimated capital investment to construct a roasting plant and its satellite facilities would be approximately $8.8 million and take 12 months to bring into production. The Company is expected to make a construction decision, pending the results of the additional studies, by the end of 2016.

In addition to improving recoveries, there are a number of cost reduction initiatives being implemented at La Encantada to help offset the decrease in revenues due to lower silver prices including the migration of fuel for power generation, from diesel to liquid natural gas (LNG), optimization of the development layouts, and renegotiation of development and haulage contracts with suppliers. The newly constructed LNG facility has now passed its testing phase and is expected to be fully operational in April. The facility will supply 100% of the power requirement to the operation and the existing diesel generators will be put on care and maintenance. The Company expects to realize a 20% reduction in power costs as a result of the switch to LNG. Furthermore, the Company anticipates utilizing the same LNG technology at the Santa Elena mine in order to further reduce operating costs.

LIFE OF MINE

The 8.5 year life of mine (LOM) plan is based on an annual processing rate of 660,000 tonnes of plant feed consisting of mineralized material from underground reserves in the first four years and an annual rate of 660,000 tonnes of tailings to be roasted and reprocessed beginning in 2018. The estimated LOM represents a Net Present Value (NPV) of $28.6 million based on a 5% discount rate.

There are several aspects that could increase the LOM while maintaining current production levels, including the conversion of Inferred Resources into Proven and Probable Reserves (historic conversion factor has been approximately 50%), and production from areas not included in reserves. The La Encantada plant has a crushing and grinding capacity in excess of 990,000 tonnes per year and the operation has historically mined and processed at these higher production levels by including ore from outside of known reserves and resources which demonstrates not only the Company's ability to identify and process undefined reserves but the exploration potential of this prolific region of Coahuila. Over the past three years, approximately 60% of the plant feed came from reserves with the difference coming from aboveground screened stockpiles and ore from undefined/unknown underground resources. In addition, exploration around the Ojuelas deposit and the skarn dome continue to show great potential to increase the volume and confidence classification of the resource.

RECOMMENDATIONS

The Company's Qualified Persons are of the opinion that the La Encantada property has the potential for hosting additional resources at the skarn dome south of the Ojuelas deposit and around the known vein systems, San Javier and Milagros breccias. Additional step out drilling is recommended to be completed to explore the potential of massive sulphide replacements between the skarn dome and Ojuelas deposit. A previous drill intercept from hole EC-05, which ended while still encountering mineralization approximately 500 metres southwest of the Ojuelas deposit, intersected 1.7 metres averaging 244 g/t silver highlighting the potential to build additional resources in this prolific area.

Mr. Ramon Mendoza Reyes, Vice President Technical Services for First Majestic, is a "qualified person" as such term is defined under National Instrument 43-101, and has reviewed and approved the technical information disclosed in this news release.

First Majestic is a mining company focused on silver production in México and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.

FIRST MAJESTIC SILVER CORP.

Keith Neumeyer, President & CEO

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral reserve and resource estimates and estimates of future production and costs of production at our properties; estimated production rates for silver and other payable metals produced by us, the estimated cost of development of our development projects; the effects of laws, regulations and government policies on our operations, including, without limitation, the laws in Mexico which currently have significant restrictions related to mining; obtaining or maintaining necessary permits, licences and approvals from government authorities; and continued access to necessary infrastructure, including, without limitation, access to power, land, water and roads to carry on activities as planned.

These statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada, Mexico; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properties are mined; the Company's title to properties; and the factors identified under the caption "Risk Factors" in the Company's Annual Information Form, under the caption "Risks Relating to First Majestic's Business".

Investors are cautioned against attributing undue certainty to forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

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First Majestic Announces Closing of CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
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First Majestic Announces CDN$78 Million Bought Deal Investment by Billionaire Eric Sprott
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First Majestic Publishes ESG and Sustainability Report
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First Majestic Acquires Silver Stream on First Mining’s Springpole Project
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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
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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
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First Majestic Announces Resignation of Ramon Davila From Board of Directors
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First Majestic Reports Second Quarter Financial Results
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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
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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
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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