First Majestic to Resume Operations at La Encantada
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FIRST MAJESTIC SILVER CORP .
Suite 1805 – 925 West Georgia Street
Vancouver, B.C., Canada V6C 3L2
Telephone: (604) 688‐3033 Fax: (604) 639‐8873
Toll Free: 1‐866‐529‐2807
Web site: www.firstmajestic.com; E‐mail: [email protected]
NEWS RELEASE
New York ‐ AG June 2, 2017
Toronto – FR
Frankfurt – FMV
Mexico ‐ AG
First Majestic to Resume Operations at La Encantada
FIRST MAJESTIC SILVER CORP . (AG: NYSE; FR: TSX) (the "Company" or “First Majestic”) is pleased to announce that it has reached
a tentative agreement with the National Union of Miners, Metallurgists, Steelworkers and Similar Workers of Mexico (National
Union), to restart operations at the La Encantada Silver Mine in the state of Coahuila, Mexico. In the coming weeks, the Company
will undertake a phased restart of operations.
On May 20th, a rogue group of workers halted activities via an illegal blockade after some of the individuals did not agree with
the bonus that the Company and the National Union had previousl y agreed to offer the miners in lieu of profit sharing. Since
then, the Company and the National Union have been working together to find an agreement to the dispute which will be
favourable for all parties.
Keith Neumeyer, President & CEO commented, “I am very pleased b y the responsiveness and cooperation we have received
from the National Union in working with us towards finding a solution that satisfies all parties. La Encantada is one of the largest
employers in the area and is crucial to the overall health of the local economy.”
The Company is planning to implement a reinduction and retraini ng process for the union miners as soon as next week. Mine
production is now expected to restart by mid‐June before ramping up to full production by the end of June.
ABOUT FIRST MAJESTIC
First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its
existing mineral property assets. The Company presently owns an d operates six producing silver mines; the La Parrilla Silver
Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and the Santa
Elena Silver/Gold Mine. Production from these six mines is proj ected to be between 11.1 to 12.4 million ounces of pure silver
or 16.6 to 18.5 million ounces of silver equivalents in 2017.
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FOR FURTHER INFORMATION contact [email protected], visit o ur website at www.firstmajestic.com or call our toll free
number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP .
“signed”
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‐l ooking 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 r ates 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 , th e la w s in M e xic o w h ic h
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 respe ct 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 caus e actual results, performance or achievements to be materially different from the results,
p e r f o r m a n c e o r a c h i e v e m e n t s t h a t a r e o r m a y b e e x p r e s s e d o r i m plied 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 cu rrency 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 o r f i n a n c i a l c o n d i t i o n o f s u p p l i e r s , r e f i n e r s a n d o t h e r p a r t i es 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 indige nous 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 agains t attributing undue certainty to forward‐looking statements or in formation. 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.
T h e C o m p a n y d o e s n o t i n t e n d , a n d d o e s n o t a s s u m e a n y o b l i g a t i o n, 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.