Replies to post #530 on First Majestic Silver Corp. (AG)

[JohnCM]

La Encantada Mine

Reserves & Resources

Category Mineral Type Tonnes
(Mt) Ag silver
(g/t) Au gold
(g/t) Pb lead
(%) Zn zinc
(%) Ag
(Moz) AgEq
(Moz) in situ
Proven + Probable Oxides 7.36 157 - 1.2 0.5 37.23 37.23
Measured + Indicated Oxides 3.19 213 - 1.6 4.4 21.86 21.86
Inferred Oxides + Sulphides 4.35 156 - 1.1 1.5 21.82 21.82

Total Silver Ounces Produced
4,081,094 2013
4,036,502 2012
4,366,636 2011
Gold Ounces Produced
237 2013
238 2012
96 2011

*In all cases, the metal prices considered were $24.00USD/Oz - Ag, $1,400.00USD/Oz - Au, $0.95 USD/lb - Pb, and $0.90USD/lb - Zn. The Reserve and Resources information provided above is based on internal qualified persons' (QPs) reporting as at December 31, 2013. The information provided was reviewed and validated by the Company's internal QP Mr. Ramon Davila, who has the appropriate relevant qualifications, and experience in mining and resource geology. The modification factors for Reserves and Resources are different, and are different for all mines.