First Majestic Reports High-Grade Drill Results and Expands Exploration Footprint at San Dimas Resource-conversion and resource-addition drilling returned multiple high-grade silver and gold intercepts across the San Dimas district
First Majestic Reports High-Grade Drill
Results and Expands Exploration Footprint at
San Dimas
Resource-conversion and resource-addition drilling returned multiple high-grade silver and gold
intercepts across the San Dimas district
New drilling results at Convención and El Cristo have expanded the exploration footprint and support
the potential for future Mineral Resource growth
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) - First Majestic Silver Corp. (NYSE:
AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce positive drill
results from its ongoing 2026 exploration program at its San Dimas Silver/Gold Mine in Durango,
Mexico. Recent resource-conversion and resource-addition drilling has returned multiple high-grade
silver and gold intercepts across several areas of the San Dimas district, supporting near-mine Mineral
Resource conversion and growth opportunities. Additionally, new drill results at Convención and El
Cristo have expanded the district's exploration footprint and identified additional targets for follow-up
drilling as part of the Company's 2026 exploration program, which includes approximately 117,000
metres ("m") of planned drilling.
"San Dimas continues to validate its position as one of our most prospective and enduring mining
districts,"
stated Keith Neumeyer, CEO of First Majestic.
"The latest drill results have returned multiple
high-grade silver and gold intercepts from both resource-conversion and resource-addition programs,
reinforcing the near-mine growth potential of established vein systems while expanding the
exploration footprint at Convención and El Cristo. With approximately 117,000 metres of drilling
planned in 2026, we are advancing one of the Company's largest exploration programs, focused on
Mineral Resource conversion, testing new targets and identifying additional growth opportunities
throughout the San Dimas district."
KEY DRILLING HIGHLIGHTS
Exploration drilling at San Dimas has intersected significant silver ("Ag") and gold ("Au") mineralization
across multiple vein systems, supporting both near-mine Mineral Resource conversion and broader
district exploration opportunities. A total of approximately 89,000 m of exploration drilling has been
completed year-to-date in 2026, of the planned approximately 117,000 m program, with work focused on
resource-conversion and resource-addition drilling in the West Block, Central Block and Graben block,
together with follow-up drilling in the El Cristo mine area and continued target testing in the East/Arana
Block.
Recent results include high-grade intercepts from resource-conversion and resource-addition drilling
within the Sinaloa-Elia vein complex, continued expansion of the mineralized footprint at the Coronado-
Carmen Escobosa vein system in the West Block, confirmation of a new target north of the Jessica vein
at Convención, and encouraging early results from the Luz and Patricia veins within the El Cristo mine
area. Selected significant intercepts are summarized in Table 1, and the principal target areas are
shown in Figure 1.
Table 1: Selection of Significant Silver and Gold Drill Hole Intersections from the San Dimas 2026
Drill Program
Drillhole
Target
Significant Intercepts
From
To
True Width
Ag
Au
AgEq
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
Sinaloa - Elia Complex
ELI26X-08
Sinaloa - Elia
198.50
200.85
2.04
1,377
21.38
2,980
ELI26X-10
Sinaloa - Elia
191.50
192.70
0.88
2,604
43.08
5,835
ELI25X-58
Sinaloa - Elia
218.10
221.35
1.75
1,070
24.51
2,908
ELI26X-22
Sinaloa - Elia
342.60
345.30
1.99
673
15.15
1,809
ELI26X-07
Sinaloa - Elia
177.55
183.65
4.45
373
4.75
729
Coronado - Carmen Escobosa Complex
COR26X-06
Coronado
588.75
594.70
4.22
246
2.94
466
CMNE26X-02
Carmen Escobosa
327.00
329.75
1.58
588
6.05
1,042
CMNE26X-04
Carmen Escobosa
303.00
307.65
3.42
175
1.87
315
Convención Vein Target
SJE26X-08
Convención
310.70
314.05
2.57
251
2.56
433
SJE26X-10
Convención
358.70
361.80
1.55
281
2.81
492
El Cristo Mine Area
LUZ26X-02
Luz
511.30
513.00
1.30
2,625
58.25
6,994
LUZ26X-03
Patricia
391.15
393.35
1.69
1,895
28.91
4,063
Figure 1: San Dimas District Vein Occurrence Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_001full.jpg
Sinaloa-Elia Vein Complex
Resource-addition and infill drilling at the historic Sinaloa-Elia vein complex has returned multiple high-
grade silver and gold intercepts, further supporting the continuity and Mineral Resource growth potential
of the system. New drill results extend the footprint of known mineralization beyond the current Mineral
Resources to the east, west and locally down dip. Infill drilling has also returned thick, high-grade
intercepts that support increased confidence in the mineralized system and the potential conversion of
Inferred Mineral Resources to Indicated Mineral Resources, providing additional support for future mine
planning (Figure 2).
Table 2: Selection of Significant Silver and Gold Drill Hole Intersections at the Sinaloa-Elia Vein
Complex
Drillhole
Target
Significant Intercepts
From
To
True Width
Ag
Au
AgEq
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
ELI26X-08
Sinaloa - Elia
198.50
200.85
2.04
1,377
21.38
2,980
ELI26X-10
Sinaloa - Elia
191.50
192.70
0.88
2,604
43.08
5,835
ELI25X-58
Sinaloa - Elia
218.10
221.35
1.75
1,070
24.51
2,908
ELI26X-22
Sinaloa - Elia
342.60
345.30
1.99
673
15.15
1,809
ELI26X-07
Sinaloa - Elia
177.55
183.65
4.45
373
4.75
729
Figure 2: Sinaloa and Elia Veins, Vertical Long Section, Looking North
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_002full.jpg
Convención Vein
Geological analysis and targeting around the Jessica vein identified several historic anomalous vein and
breccia intercepts that were reinterpreted as evidence for the presence of a hanging wall structure. Initial
drill testing of this target returned five significant intercepts in seven holes, supporting the exploration
hypothesis (Figure 3). The structure, the Convención vein, was intersected approximately 100 m north of
Jessica and may represent a potential near-term mining opportunity. The target vein remains open in
multiple directions, supporting additional follow-up drilling in the area (Figure 4).
Table 3: Selection of Significant Silver and Gold Drill Hole Intersections at the Convención Vein
Drillhole
Target
Significant Intercepts
From
To
True Width
Ag
Au
AgEq
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
SJE26X-08
Convención
310.70
314.05
2.57
251
2.56
433
SJE26X-10
Convención
358.70
361.80
1.55
281
2.81
492
Figure 3: Santa Jessica Vein and New Convención Vein Geologic Interpretation, 1050 Level Plan,
Looking Down
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_003full.jpg
Figure 4: Convención Long Section with Santa Jessica Historic Mining Footprint Shown for
Reference, Looking North
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_004full.jpg
Coronado - Carmen Escobosa Complex
Drilling in the West Block has focused on the Coronado and Carmen Escobosa veins. Results from
2025 were incorporated into the Inferred Mineral Resources for San Dimas and provided the basis for
follow-up drilling in 2026. Results received to date support the interpretation of Coronado and Carmen
Escobosa as a two-vein mineralized system with continued potential for Mineral Resource addition
(Figure 5).
At Carmen Escobosa, five drill holes testing the western continuity of mineralization, together with a drill
hole targeting the eastern extension, returned significant intercepts. The target remains open for
approximately 400 m to the west of these new intercepts, supporting additional follow-up drilling along
strike (Figure 6). At Coronado, three drill holes testing the continuity of mineralization to the west also
returned significant intercepts, further supporting the potential to expand the mineralized footprint in the
West Block (Figure 7).
Table 4: Selection of Significant Silver and Gold Drill Hole Intersections at the Coronado - Carmen
Escobosa Complex
Drillhole
Target
Significant Intercepts
From
To
True Width
Ag
Au
AgEq
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
COR26X-06
Coronado
588.75
594.70
4.22
246
2.94
466
CMNE26X-02
Carmen Escobosa
327.00
329.75
1.58
588
6.05
1,042
CMNE26X-04
Carmen Escobosa
303.00
307.65
3.42
175
1.87
315
Figure 5: Coronado and Carmen Escobosa Geologic Model, 700 Level Plan, Looking Down
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_005full.jpg
Figure 6: Carmen Escobosa Long Section, Looking North
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_006full.jpg
Figure 7: Coronado Long Section, Looking North
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_007full.jpg
El Cristo Mine
Exploration activities have expanded to include the El Cristo mine area, the southernmost historically
mined areas on the property. Results to date have returned high-grade silver and gold intercepts from
the Luz and Patricia veins, supporting follow-up drilling to evaluate the continuity and extent of
mineralization. Select drill hole assay results and true-width vein intersections include:
Table 5: Selection of Significant Silver and Gold Drill Hole Intersections at the El Cristo Mine
Drillhole
Target
Significant Intercepts
From
To
True Width
Ag
Au
AgEq
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
LUZ26X-02
Luz
511.30
513.00
1.30
2,625
58.25
6,994
LUZ26X-03
Patricia
391.15
393.35
1.69
1,895
28.91
4,063
Figure 8: El Cristo Mine Area, La Luz Vein Long Section, Looking Northwest
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/313544_804e6044348f8aa2_008full.jpg
The 2026 drill program at San Dimas is expected to continue advancing near-mine Mineral Resource
conversion while testing additional targets across the district. Results received to date support the
potential for Mineral Resource growth within established vein systems and highlight new opportunities at
Convención and El Cristo for follow-up drilling.
Table 6: Selection of Significant Silver and Gold Drill Hole Intercepts at San Dimas
Drillhole
Target
Target Type
Significant Intercepts
From
To
True Width
Au
Ag
AgEq
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
COR25X-15
Carmen Escobosa
Resource addition
432.75
434.65
1.65
2.52
255
444
COR25X-19
Carmen Escobosa
Resource addition
457.90
461.65
3.33
1.85
164
303
COR26X-02
Coronado
Resource addition
467.80
469.75
1.32
0.74
118
174
COR26X-03
Carmen Escobosa
Resource addition
617.75
619.35
1.31
3.06
281
511
COR26X-06
Coronado 1
Resource addition
588.75
594.70
4.22
2.94
246
466
Include 1
Resource addition
589.10
590.00
0.64
6.44
544
1027
Include 2
Resource addition
591.15
591.70
0.39
8.24
647
1264
Coronado 2
Resource addition
597.70
604.25
4.63
1.32
105
204
COR26X-08
Coronado
Resource addition
550.70
556.80
3.05
1.33
121
221
CMNE26X-01
Carmen Escobosa
Resource addition
373.20
374.90
1.20
1.24
125
218
CMNE26X-02
Carmen Escobosa
Resource addition
327.00
329.75
1.58
6.05
588
1042
Include 1
Resource addition
328.00
329.00
0.57
12.48
1208
2144
CMNE26X-04
Carmen Escobosa
Resource addition
303.00
307.65
3.42
1.87
175
315
CMNE26X-05
Carmen Escobosa
Resource addition
407.05
410.30
2.49
1.45
137
246
ELI25X-58
Sinaloa - Elia
Resource conversion
218.10
221.35
1.75
24.51
1070
2908
Include 1
Resource conversion
218.75
219.80
0.56
74.00
3170
8720
ELI25X-59
Sinaloa - Elia
Resource addition
307.85
310.15
1.55
2.12
173
332
Include 1
Resource addition
309.00
309.45
0.30
7.43
525
1082
ELI26X-01
Sinaloa - Elia
Resource addition
252.85
256.10
2.30
1.28
81
177
ELI26X-02
Sinaloa - Elia
Resource addition
337.95
339.25
1.18
1.45
103
212
ELI26X-03
FW Vein
Resource conversion
117.70
118.80
0.78
1.05
104
182
ELI26X-03
Sinaloa - Elia
Resource conversion
123.25
124.75
1.06
22.65
92
1791
Include 1
Resource conversion
124.35
124.75
0.28
84.41
206
6537
ELI26X-05
Sinaloa - Elia
Resource conversion
149.80
150.80
0.71
6.65
348
847
ELI26X-07
Sinaloa - Elia
Resource conversion
177.55
183.65
4.45
4.75
373
729
Include 1
Resource conversion
182.30
183.65
0.98
16.60
1380
2625
ELI26X-08
Sinaloa - Elia
Resource conversion
198.50
200.85
2.04
21.38
1377
2980
Include 1
Resource conversion
198.50
200.40
1.65
26.05
1680
3634
HW Vein
Resource conversion
219.95
222.80
2.26
7.89
329
920
Include 1
Resource conversion
219.95
220.85
0.71
15.87
612
1802
ELI26X-09
FW Vein
Resource conversion
174.05
175.20
1.00
3.77
300
582
Sinaloa - Elia
Resource conversion
191.40
192.85
1.11
11.65
68
941
Include 1
Resource conversion
192.45
192.85
0.31
41.23
161
3253
HW Vein
Resource conversion
206.45
208.80
1.80
4.69
315
667
Include 1
Resource conversion
206.45
207.40
0.73
6.68
505
1006
ELI26X-10
FW Vein
Resource conversion
128.65
129.60
0.78
0.98
108
182
Sinaloa - Elia
Resource conversion
191.50
192.70
0.88
43.08
2604
5835
Include 1
Resource conversion
192.00
192.70
0.52
70.52
4235
9524
HW Vein
Resource conversion
196.10
197.45
1.00
4.80
372
732
ELI26X-11
Sinaloa - Elia
Resource conversion
255.00
258.80
2.68
7.93
344
939
Include 1
Resource conversion
256.20
257.25
0.74
23.10
1050
2783
ELI26X-13
Sinaloa - Elia
Resource conversion
120.95
122.20
0.96
1.17
105
193
ELI26X-14
Sinaloa - Elia
Resource conversion
275.25
277.20
1.20
6.44
369
852
Include 1
Resource conversion
275.85
276.40
0.34
22.76
1301
3008
HW Vein
Resource conversion
296.75
298.60
1.13
2.07
103
258
ELI26X-16
FW Vein
Resource conversion
119.70
120.55
0.80
1.09
128
210
Vein
Resource conversion
159.40
162.10
1.55
3.30
155
402
Sinaloa - Elia
Resource conversion
179.10
181.90
2.48
3.64
134
407
ELI26X-19
FW Vein
Resource conversion
164.60
166.05
0.96
1.52
63
177
Sinaloa - Elia
Resource conversion
167.05
168.80
1.16
2.51
141
329
ELI26X-21
Sinaloa - Elia
Resource conversion
137.75
138.80
0.80
12.96
904
1876
Vein
Resource conversion
216.75
218.30
1.00
1.02
104
180
Vein
Resource conversion
225.20
227.65
1.73
2.19
247
411
Include 1
Resource conversion
225.20
225.95
0.53
5.04
629
1007
ELI26X-22
Vein
Resource addition
308.70
311.20
2.22
3.16
172
409
Include 1
Resource addition
308.70
309.10
0.35
13.10
650
1633
Vein
Resource addition
342.60
345.30
1.99
15.15
673
1809
Include 1
Resource addition
342.60
344.35
1.29
22.58
981
2675
SIN25X-21
Sinaloa - Elia
Resource addition
633.75
635.25
0.96
3.06
208
438
SIN26X-01
Vein
Resource addition
234.05
235.70
1.52
3.89
171
463
Sinaloa - Elia
Resource addition
396.45
397.65
1.13
4.27
258
578
SIN26X-03
Sinaloa - Elia
Resource addition
189.10
190.90
1.43
11.04
783
1611
Include 1
Resource addition
189.60
190.90
1.03
13.70
960
1988
SIN26X-07
Sinaloa - Elia
Resource addition
136.40
137.30
0.70
13.05
770
1749
Include 1
Resource addition
136.80
137.30
0.39
21.15
1236
2822
SIN26X-08
Sinaloa - Elia
Resource addition
182.35
184.00
1.06
5.51
393
806
SIN26X-11
Sinaloa - Elia
Resource addition
239.90
240.90
0.91
20.04
1300
2803
SIN26X-13
Sinaloa - Elia
Resource addition
126.45
127.60
0.70
10.14
292
1053
Include
Resource addition
126.45
126.95
0.30
22.26
570
2240
SIN26X-14
Sinaloa - Elia
Resource addition
210.70
213.75
2.16
8.73
782
1437
Include
Resource addition
212.90
213.20
0.21
50.73
4918
8723
SIN26X-15
Sinaloa - Elia
Resource addition
175.20
176.95
1.12
18.86
892
2306
Include 1
Resource addition
175.20
176.10
0.58
29.66
1328
3552
SIN26X-15
Include 2
Resource addition
176.60
176.95
0.17
7.43
498
1055
SJE26X-06
Convención
Resource addition
245.80
246.85
0.74
1.24
152
244
SJE26X-08
Convención
Resource addition
310.70
314.05
2.57
2.56
251
443
SJE26X-10
Convención
Resource addition
358.70
361.80
1.55
2.81
281
492
Include 1
Resource addition
359.45
360.20
0.38
5.86
564
1004
CNV26X-01
Convención
Resource addition
321.10
322.20
0.85
1.01
133
209
CNV26X-03
Convención
Resource addition
265.90
268.95
1.96
1.78
166
299
ROBBIN26S-03
Vein
Resource addition
272.85
273.95
0.71
6.74
38
544
ROT26X-01
Roberta
Resource conversion
227.20
228.20
0.79
4.04
414
717
ROT26X-04
Vein
Resource conversion
3.25
5.70
2.26
0.93
146
216
Roberta
Resource conversion
100.00
101.45
0.83
1.42
140
247
ROT26X-06
Robertita
Resource conversion
11.20
12.65
1.11
2.12
180
339
ROT26X-11
Vein
Resource addition
14.60
17.20
1.20
2.21
242
408
Include 1
Resource conversion
16.85
17.20
0.16
7.01
780
1306
ROT26X-13
San Enrique
Resource addition
27.10
29.00
1.22
1.60
215
335
include
Resource addition
92.45
93.30
0.74
0.86
131
196
Vein
Resource addition
163.50
164.60
0.71
9.13
24
709
SRE26X-03
Santa Regina
Resource addition
183.30
192.00
5.59
1.75
173
304
Include 1
Resource addition
190.55
190.95
0.26
6.79
733
1242
SRE26X-04
Santa Regina
Resource addition
135.25
137.15
1.72
0.87
152
217
SRE26X-12
Santa Regina
Resource addition
201.45
203.45
1.29
2.09
205
362
Vein
Resource addition
211.00
212.50
1.23
2.41
213
394
Include 1
Resource addition
211.95
212.50
0.45
6.40
566
1046
San Juan
Resource addition
216.85
218.20
0.87
1.06
147
227
ROS26X-01
Rosario
Resource addition
196.55
197.70
0.88
6.98
1355
1879
Include 1
Resource addition
197.10
197.70
0.46
12.79
2500
3459
Rosario
Resource addition
200.00
206.80
5.21
2.91
593
811
Include 1
Resource addition
200.00
202.20
1.69
6.33
1173
1648
NBU26X-02
Noche Buena
Resource conversion
254.50
255.60
0.93
3.33
303
553
Include 1
Resource conversion
255.20
255.60
0.34
6.17
578
1041
NBU26X-03
Noche Buena
Resource conversion
276.60
277.45
0.72
6.75
649
1155
NBU26X-04
Noche Buena
Resource conversion
310.65
311.65
0.91
1.00
105
180
LUZ26X-02
Luz
Resource conversion
511.30
513.00
1.30
58.25
2625
6994