AG.TO · 2025-08-18 12:00:00

First Majestic Announces Positive Exploration Results at San Dimas Expansionary drilling intersects high-grade silver and gold mineralization near underground mine development. High- grade silver and gold intersection of the new Coronado vein

Drill Results Mine Development & Operations

First Majestic Announces Positive Exploration

Results at San Dimas

Expansionary drilling intersects high-grade silver and gold

mineralization near underground mine development. High-

grade silver and gold intersection of the new Coronado vein

highlights the potential for new Mineral Resource discoveries.

Vancouver, British Columbia--(Newsfile Corp. - August 18, 2025) - First Majestic Silver Corp. (NYSE:

AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to report positive drilling

results from its ongoing exploration program at the San Dimas Silver/Gold Mine, located in Durango,

Mexico. The ongoing exploration program was designed to explore for new veins, expand the Mineral

Resources, and upgrade Inferred Mineral Resources to Indicated Mineral Resources.

"The 2025 exploration results at San Dimas continue to reinforce its position as a high-quality asset

within First Majestic's portfolio of operating mines,"

stated Keith Neumeyer, President & CEO of First

Majestic.

"We are realizing strong results from numerous veins at San Dimas near-mine extensions at

Elia, Sinaloa, Roberta, and Santa Teresa, and we are excited by the new high-grade silver and gold

intercept of the Coronado vein in the West Block. Extensions of historically mined areas remain

untested by modern methods, and this speaks to the untapped potential of the district. These new

results confirm our view that San Dimas has significant growth opportunities and remains a

cornerstone asset for our long-term growth strategy."

KEY DRILLING HIGHLIGHTS

Exploration drilling intersected significant gold ("Au") and silver ("Ag") mineralization in multiple veins

across the San Dimas property. A selection of significant drill hole intersections from these veins,

namely the Sinaloa-Elia vein, the Roberta vein, the Santa Teresa vein, and the Coronado vein (Figure 1),

are highlighted in Table 1 below:

Table 1: Summary of Significant Gold and Silver Drill Hole Intercept Highlights

Drillhole

Target

Significant Intercept

From (m)

To (m)

True Length (m)

Metal Grades

ELI25X-1

Elia

273.60

279.15

3.57

15.93 g/t Au and 1,112

g/t Ag

SIN25X-5

Sinaloa

172.40

178.10

5.17

7.66g/t Au and 495 g/t

SJE25-4

Jessica

21.75

25.55

3.20

7.86g/t Au and 193 g/t

ELI25X-17

Elia

312.10

313.40

1.06

23.70 g/t Au and 578

g/t Ag

STE25X-20

Santa Teresa

220.10

224.25

2.53

9.65 g/t Au and 121 g/t

ROT25X-10

Roberta

218.75

220.55

1.52

6.40 g/t Au and 472 g/t

COR25X-2

Coronado

752.60

754.75

2.12

2.59 g/t Au and 327 g/t

Figure 1: San Dimas District Vein Occurrence Map

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1475/262982_68d3f4f994500a33_002full.jpg

Sinaloa-Elia Veins

Drilling at the historic Sinaloa-Elia veins cut multiple intercepts with high-grade gold and silver

mineralization. The drill holes expand the known mineralization beyond the current Mineral Resources

and confirm the presence of mineralization below historically mined areas along the Sinaloa vein and to

the east of the Elia vein (Figure 2). Additional drill holes successfully converted Inferred Mineral

Resources to Indicated Mineral Resources effectively de-risking mineralization for near-term mining.

Select drill hole assay grades and true width intervals of the vein intersections include:

ELI25X-1:

3.57 metres ("m") at 15.93 g/t Au and 1,112 g/t Ag;

SIN25X-5:

5.17 m at 7.66 g/t Au and 495 g/t Ag;

ELI25X-17:

1.06 m at 23.70 g/t Au and 578 g/t Ag; and

SIN25X-9:

2.12 m at 8.38 g/t Au and 242 g/t Ag.

Roberta Vein

The Roberta vein is one of the largest past producing veins at San Dimas, and expansionary drilling of

the vein explored untested up-dip mineralization continuity outside current Inferred Mineral Resources

(Figure 3). Several drillholes yielded significant results, and select assay grades and true width

intersections include:

ROT25X-10:

1.52 m at 6.40 g/t Au and 472 g/t Ag;

ROT25X-12:

3.78 m at 1.66 g/t Au and 168 g/t Ag; and

ROT25X-7:

0.77 m at 7.37 g/t Au and 689 g/t Ag.

Santa Teresa Vein

Expansionary drilling to the west of the historic Santa Teresa vein in the Western Block has returned

encouraging results along strike, approximately 170 m east of historic mining. The vein projection

remains open to the east for ~600 m (Figure 4). Select assay grades and true width vein intersections

include:

STE25X-20:

2.53 m at 9.65 g/t Au and 121 g/t Ag;

STE25X-9:

3.38 m at 2.44 g/t Au and 120 g/t Ag; and

STE25X-6:

1.01 m at 6.79 g/t Au and 463 g/t Ag.

Coronado Vein

The region north of the Santa Teresa vein, within the West Block, is a significant new gold and silver

target on the property. The Coronado vein, which trends sub-parallel to the Santa Terea vein, is

unexplored by modern methods and represents an important opportunity to identify new Mineral

Resources in this area.

Early drilling to test the Coronado target in 2025 intersected high-grade gold and

silver mineralization and the trend remains open for approximately 1 kilometre to the west (Figure 5). The

high-grade true width drill hole intersection includes:

COR25X-2:

2.12 m at 2.59 g/t Au and 327 g/t Ag.

Figure 2: Sinaloa and Elia Veins, Vertical Section. Looking North

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1475/262982_68d3f4f994500a33_003full.jpg

Figure 3: Roberta Vein, Vertical Section. Looking North

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1475/262982_68d3f4f994500a33_004full.jpg

Figure

: Santa Teresa Vein, Vertical Section. Looking North

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1475/262982_68d3f4f994500a33_005full.jpg

Figure 5: Coronado Vein, Vertical Section. Looking North

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/1475/262982_68d3f4f994500a33_006full.jpg

Table 2: Summary of Significant Gold and Silver Drill Hole Intercepts at San Dimas

Drillhole

Target

Target Type

Significant Intercept

From

(m)

Length

(m)

True length

(m)

(g/t)

Ag Eq

(g/t)

SIN24_135

Sinaloa-Elia

Resource

conversion

387.15

1.30

0.75

4.24

266

626

Include 1

Resource

conversion

387.15

0.45

0.26

6.63

450

1014

Include 2

Resource

conversion

388.15

0.30

0.17

8.22

474

1173

Sinaloa-Elia

Resource

conversion

396.10

1.40

0.75

9.94

546

1391

Include 1

Resource

conversion

397.00

1.10

0.55

12.14

658

1689

SIN24_136

Sinaloa-Elia

Resource

conversion

386.60

0.95

0.70

1.04

129

217

SIN25_139

Sinaloa-Elia

Resource

addition

475.60

0.95

0.78

3.34

259

543

SIN25X-1

Sinaloa-Elia

Resource

conversion

193.90

1.35

0.95

5.35

302

757

Include 1

Resource

conversion

194.45

0.80

0.57

5.95

328

833

SIN25X_3

Sinaloa-Elia

Resource

conversion

67.80

1.25

0.96

2.15

188

371

SIN25X-4

Sinaloa-Elia

Resource

addition

407.80

1.05

0.89

7.77

357

1017

SIN25X-5

Sinaloa-Elia

Resource

conversion

172.40

5.70

5.17

7.66

495

1146

Include 1

Resource

conversion

172.95

0.35

0.32

11.75

973

1972

Include 2

Resource

conversion

174.00

0.70

0.63

7.60

686

1332

Include 3

Resource

conversion

176.35

1.75

1.59

13.07

762

1873

Sinaloa-Elia

Resource

conversion

462.95

3.00

2.12

8.38

282

994

SIN25X-9

Include 1

Resource

conversion

462.95

2.40

1.70

9.53

325

1135

Vein

Resource

conversion

488.65

0.90

0.69

7.88

266

936

SIN25X-12

Sinaloa-Elia

Resource

conversion

369.10

0.85

0.77

4.10

182

531

SIN25X-13

Sinaloa-Elia

Resource

addition

507.60

1.40

0.80

8.39

504

1217

Include 1

Resource

addition

508.20

0.80

0.46

11.42

646

1616

EL24_287

HW Vein

Resource

conversion

148.00

1.70

1.20

3.89

218

549

Include 1

Resource

conversion

148.00

0.85

0.60

6.22

310

839

Sinaloa-Elia

Resource

conversion

244.55

0.95

0.82

11.08

874

1816

EL25_297

HW Vein

Resource

addition

139.30

1.15

1.00

3.12

118

383

ELI25X-1

Vein

Resource

addition

2.30

1.65

1.00

2.17

148

332

HW Vein

Resource

addition

173.60

2.20

1.75

4.38

226

598

Include 1

Resource

addition

174.60

1.20

0.85

5.38

333

790

Sinaloa-Elia

Resource

addition

273.60

5.55

3.57

15.93

1112

2466

Include 1

Resource

addition

273.60

1.65

1.06

11.32

823

1785

Include 2

Resource

addition

276.00

0.40

0.26

27.50

2218

4555

Include 3

Resource

addition

277.00

2.15

1.38

25.97

1727

3935

FW Vein

Resource

addition

288.05

1.55

1.05

3.34

238

522

FW Vein

Resource

addition

297.10

1.45

1.15

6.11

219

738

Include 1

Resource

addition

297.90

0.65

0.52

6.40

292

836

ELI25X-2

Sinaloa-Elia

Resource

addition

406.75

1.15

0.74

6.51

575

1128

ELI25X-4

HW Vein

Resource

addition

160.75

0.80

0.70

3.55

183

485

ELI25X-17

HW Vein

Resource

addition

185.80

5.00

2.35

4.67

289

687

Include 1

Resource

addition

185.80

3.60

1.69

5.71

361

846

Sinaloa-Elia

Resource

addition

312.10

1.30

1.06

23.70

578

2593

Include 1

Resource

addition

312.10

0.70

0.57

42.50

994

4607

ELI25X-22

Sinaloa-Elia

Resource

addition

313.00

1.80

1.03

8.65

387

1122

Include 1

Resource

addition

313.00

0.70

0.40

19.69

809

2482

ELI25X-23

Sinaloa-Elia

Resource

addition

395.60

1.00

0.82

7.87

892

1560

HW Vein

Resource

conversion

452.20

7.60

3.80

3.27

151

429

Drillhole

Target

Target Type

Significant Intercept

From

(m)

Length

(m)

True length

(m)

(g/t)

Ag Eq

(g/t)

ELI25X-24

Include 1

Resource

conversion

452.20

0.80

0.40

9.30

208

999

Sinaloa-Elia

Resource

conversion

469.20

2.75

1.67

4.77

321

726

Include 1

Resource

conversion

470.90

1.05

0.64

6.18

440

965

STE25X-4

Santa Teresa

Resource

addition

78.80

1.00

0.87

1.57

107

240

Santa Teresa

Resource

addition

82.85

1.30

1.10

1.71

118

263

STE25X-5

Santa Teresa

Resource

conversion

227.45

1.60

1.31

3.90

397

STE25X-6

Santa Teresa

Resource

addition

96.95

1.50

1.01

6.79

463

1040

Include 1

Resource

addition

96.95

0.70

0.49

13.10

867

1980

Santa Teresa

Resource

addition

100.05

1.25

0.88

1.59

106

241

STE25X-7

Santa Teresa

Resource

addition

172.75

1.05

0.74

1.83

217

373

STE25X-9

Santa Teresa

Resource

addition

268.00

3.90

3.38

2.44

120

327

Santa Teresa

Resource

addition

276.35

2.50

2.17

2.44

285

STE25X-10

Santa Teresa

Resource

conversion

161.10

1.35

1.17

2.43

274

STE25X-11

Santa Teresa

Resource

addition

279.55

3.90

2.24

2.83

247

STE25X-12

Santa Teresa

Resource

conversion

163.70

0.90

0.78

2.94

258

508

STE25X-14

Santa Teresa

Resource

conversion

198.65

1.65

1.43

1.97

170

338

STE25X-15

Santa Teresa

Resource

conversion

252.80

0.80

0.70

5.94

514

STE25X-20

Santa Teresa

Resource

conversion

209.70

2.35

1.73

3.59

347

Santa Teresa

Resource

conversion

220.10

4.15

2.53

9.65

121

941

Include 1

Resource

conversion

221.25

3.00

1.85

12.00

160

1180

STE25X-21

Santa Teresa

Resource

conversion

172.00

0.95

0.73

3.40

433

722

STE25X-23

Santa Teresa

Resource

conversion

271.35

4.10

2.90

4.66

403

Include 1

Resource

conversion

274.30

0.55

0.39

8.28

716

STE25X-25

Santa Teresa

Resource

conversion

167.35

2.95

1.90

2.81

159

399

ROT25X-2

HW Roberta

Resource

addition

248.65

1.20

0.77

1.43

107

229

ROT25X-5

Roberta

Resource

conversion

187.35

1.25

1.08

1.34

256

370

ROT25X-6

Roberta

Resource

addition

831.25

0.75

0.70

1.17

175

275

ROT25X-7

Roberta

Resource

addition

231.95

1.00

0.77

7.37

689

1316

ROT25X-9

Roberta

Resource

addition

228.95

1.60

1.03

1.61

129

266

Roberta

Resource

addition

218.75

1.80

1.52

6.40

472

1016

Drillhole

Target

Target Type

Significant Intercept

From

(m)

Length

(m)

True length

(m)

(g/t)

Ag Eq

(g/t)

ROT25X-10

Include 1

Resource

addition

218.75

0.90

0.76

9.68

693

1516

Roberta

Resource

addition

224.15

0.95

0.80

2.20

170

357

ROT25X-12

Roberta

Resource

addition

231.65

5.35

3.78

1.66

168

309

Include 1

Resource

addition

236.30

0.70

0.49

4.78

489

895

COR25X-2

Carme

Escobosa

Resource

addition

547.20

0.75

0.74

1.46

203

327

Coronado

Resource

addition

752.60

2.15

2.12

2.59

327

547

Include

Resource

addition

754.00

0.75

0.74

5.64

661

1140

COR25X-3

Carme

Escobosa

Resource

addition

485.75

1.00

0.82

1.20

209

311

SJE25X-4

Convencion

Resource

addition

41.20

2.95

1.61

0.17

307

322

Jessica

Resource

addition

222.50

1.55

0.89

2.80

451

689

Include 1

Resource

addition

222.50

1.25

0.72

3.09

509

772

SJE25X-5

Vein

Resource

addition

21.75

3.80

3.20

7.86

193

861

Include 1

Resource

addition

22.70

2.15

1.81

11.95

253

1269

SJE25X-6

Convencion

Resource

addition

27.15

4.60

2.51

1.15

164

262

Jessica

Resource

addition

327.40

1.20

0.85

7.60

653

SRE25X-3

Santa Regina

Resource

addition

186.45

1.30

0.84

179

250

ROS24_055

HW Vein-Fault

Resource

addition

102.85

1.15

0.88

7.76

1013

1673

Include 1

Resource

addition

102.85

0.40

0.31

18.05

2541

4075

Intermedia

(Rosario)

Resource

addition

608.35

0.95

0.75

3.10

1092

1355

ROS25X-1A

Intermedia

(Rosario)

Resource

addition

276.00

2.05

1.45

3.20

196

468

Include 1

Resource

addition

276.00

0.40

0.28

6.48

380

930

PE24_467

HW Perez

Resource

addition

545.45

1.80

1.33

0.01

283

284

Drillhole

Target

Target Type

Significant Intercept

From

(m)

Length

(m)

True length

(m)

(g/t)

Ag Eq

(g/t)

Notes:

All holes are Diamond Drill Core; AgEq grade = Ag grade (g/t) + [Au (g/t) * 85].

From and to length indicated in metres, true width of the intercept is calculated per drill hole and vein angles.

See Appendix to this news release for details regarding drill hole locations, sample type, azimuth, dip and total depth.

San Dimas: gold and silver drill hole significant intercepts were composited using the length weighted averages of uncapped sample

assays, a 190 g/t AgEq minimum grade (cut-off grade, "COG"), and a minimum composite length of 0.7 m (true width). A maximum of 1 m

below the minimum COG was allowed as internal dilution. Where necessary to achieve minimum length, a single sample below the COG but

grading >100g/t AgEq was allowed to be composited for short intervals.

Where present, single samples or intercepts with assay results higher than 700 g/t AgEq are highlighted as "Include" in each intercept.

First Majestic's drill programs follow established Quality Assurance, Quality Control ("QA/QC") insertion

protocols with standards, blanks, and duplicates introduced into the sample-stream. After geological

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