FR Frankfurt – FMV First Majestic Announces New Chief Operating Officer
FIRST MAJESTIC SILVER CORP.
Suite 1800 – 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 February 3, 2020
Toronto – FR
Frankfurt – FMV
First Majestic Announces New Chief Operating Officer
Vancouver, BC, Canada ‐ First Ma jestic Silver Corp. (AG: NYSE; FR: TSX) ("First Majestic" or the "Company") is
pleased to announce the appointment of Mr. Steve Holmes to the role of Chief Operating Officer (“COO”).
Mr. Holmes is a mining engineer with over 35 years of experience and will be responsible for overseeing all
operational functions at the Company’s Mexican portfolio of silver mines and projects.
Prior to joining First Majestic, Mr. Holmes held the position o f Vice President, Joint Venture Portfolio at Barrick
Gold Corporation, a global gold mining company, and was respons ible for overseeing Barrick’s interest in their
Global Joint Venture operations and projects. He previously ser v e d a s t h e C O O f o r K G H M I n t e r n a t i o n a l ,
Operations Vice President at the Sierra Gorda copper mine in Ch ile and has acted in general management roles
at Asarco, the Mine Technology Group, Chino Mines Company and Freeport‐McMoRan.
“I am pleased to welcome Steve to the First Majestic team,” s a i d K e i t h N e u m e y e r , P r e s i d e n t & C E O . “His
successful leadership and operational experience of working in large‐scale precious and base metal operations in
Latin America made him a clear choice as a leader for First Maj estic. I look forward to working with him as the
Company continues to grow its operational footprint in the years ahead.”
“I am happy to join First Majestic’s talented team of executive and mining professionals in addition to working
with an outstanding portfolio of operating silver mines, projec ts and exploration prospects,” said Steve Holmes,
COO. “The Company is gearing up for significant production growth over the next couple of years and I look
forward to applying my extensive operational knowledge and management experience to continue executing on
the Company’s exciting growth plans.”
About the Company
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 Compan y presently owns and operates the San Dimas
Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La E ncantada Silver Mine. Production from these
mines are projected to be between 11.8 to 13.2 million silver o unces or 21.5 to 24.0 million silver equivalent
ounces in 2020.
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FOR FURTHER INFORMATION contact [email protected], visit our website at www.firstmajestic.com or call
our toll free number 1.866.529.2807.
FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This press release contains “forward‐looking information” and " forward‐looking statements” under applicable Canadian and U.S. securities laws
(collectively, “forward‐looking statements”). These statements r e l a t e t o f u t u r e e v e n t s o r t h e Company's future performance, business prospects or
opportunities that are based on forecasts of future results, es timates of amounts not yet determinable and assumptions of management made in light of
management's experience and perception of historical trends, current conditions and expected future developments. Forward‐looking statements include,
but are not limited to, statements with respect to: the Company’s business strategy; future planning processes; commercial mining operations; cash flow;
budgets; the timing and amount of estimated future production; recovery rates; mine plans and mine life; the future price of silver and other metals; costs
of production; costs and timing o f the development of new depos its; capital projects and explor ation activities and the possib le results
thereof. Assumptions may prove to be incorrect and actual result s m a y d i f f e r m a t e r i a l l y f r o m t hose anticipated. Consequently, guidance cannot be
guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forwar d‐looking statements as there can be no assurance
that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐
looking statements. Statements concerning proven and probable min era l r e s er v e s a n d m in e r a l re s o ur c e e s tim a te s m a y a ls o be d ee med to constitute
forward‐looking statements to the extent that they involve esti mates of the mineralization that will be encountered as and if the property is developed,
and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect t he conclusion based on
certain assumptions that the mineral deposit can be economically exploited. Any statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives or future e v e n t s o r p e r f o r m a n c e ( o f t e n , b u t n o t a l w a y s , u s i n g w o r d s o r phrases such as “seek”,
“anticipate”, “plan”, “continue”, “ e s t i m a t e ” , “ e x p e c t ” , “ m a y ” , “will”, “project”, “predict”, “forecast”, “potential”, “target”, “intend”, “could”, “might”,
“should”, “believe” and similar expressions) are not statements of historical fact and may be “forward‐looking statements”.
Actual results may vary from for ward‐looking statements. Forward‐looking statements are subject to known and unknown risks, un certainties and other
factors that may cause actual results to materially differ from those expressed or implied by suc h forward‐looking statements, including but not limited
to: risks related to the integration of acquisitions; actual results of exploration activities; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment
or processes relative to specifications and expectations; accidents; labour relations; relations w i t h l o c a l c o m m u n i t i e s ; c h a n ges in national or local
governments; changes in applicable legislation or application t hereof; delays in obtaining approvals or financing or in the co mpletion of development or
construction activities; exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks; reclamation expenses;
outcomes of pending litigation; limitations on insurance covera ge as well as those factors discussed in the section entitled " Description of the Business ‐
Risk Factors" in the Company's most recent Annual Information Form, available on www.sedar.com, and Form 40‐F on file with the United States Securities
and Exchange Commission in Washington, D.C. Although First Majestic has attempted to identify important factors that could cause actual results to differ
materially from those contained i n f o r w a r d ‐ l o o k i n g s t a t e m e n t s , there may be other factors that cause results not to be as anticipated, estimated or
intended.
The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only
as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward‐looking statements, except as required
by applicable laws.