First Majestic Silver Corp. (AG)

[Montanore]

Impressive news!

Record consolidated average silver recoveries of 88%, the highest in the Company’s 17-year history

Record production at Santa Elena of 1,859,170 silver equivalent ounces, up 27% from the prior quarter

Five-year production high at La Encantada of 885,627 silver ounces, up 81% from the prior quarter

Achieved average silver recoveries of 82% at La Encantada, the highest recovery rates in recent history at this mine

Reached steady state production of the new 3,000 tpd high-intensity grinding (“HIG”) mill at Santa Elena, making it the only hard rock operating HIG mill in Latin America

Began initial earthwork activities at Santa Elena’s Ermitaño project for surface facilities and development of the underground portal