AG.TO · 2018-07-16 12:00:00

FR Frankfurt – FMV First Majestic Produces a Record 5.1M Silver Equivalent Ounces in Second Quarter; Increases 2018 Production Guidance to 20.5M – 22.6M Silver Equivalent Ounces

Resource Estimates Production Results

New York – AG July 16, 2018

Toronto – FR

Frankfurt – FMV

First Majestic Produces a Record 5.1M Silver Equivalent Ounces in Second Quarter;

Increases 2018 Production Guidance to 20.5M – 22.6M Silver Equivalent Ounces

Vancouver, BC, Canada ‐ First Majestic Silver Corp. ("First Maj estic" or the "Company") announces total

production in the second quarter of 2018 from its seven operati ng silver mines reached a new Company record

of 5.1 million equivalent ounces of silver. Total production consisted of 2.8 million ounces of silver, 25,449 ounces

of gold, 3.9 million pounds of lead and 1.4 million pounds of zinc.

The Company has increased its 2018 annual silver production to a new range of 12.0 to 13.2 million ounces, or

20.5 to 22.6 million silver equivalent ounces primarily due to the addition of the San Dimas Silver/Gold mine

which was acquired on May 10, 2018. This compares to the previous annual production guidance of 10.6 to 11.8

million ounces of silver, or 15.7 to 17.5 million silver equivalent ounces.

“During the quarter, the integration of the newly acquired San Dimas mine into our Mexican portfolio was our

primary focus,” said Keith Neumeyer, President & CEO. “The world‐class San Dimas operation, which contributed

only seven weeks of production in the second quarter, propelled the Company to a new quarterly production

record of 5.1 million silver equivalent ounces and has become o ur cornerstone asset and will remain a major

focus for the next several quarters as we optimize the operation . S h o r t t e r m , w e a r e f o c u s e d o n r e d u c i n g

underground dilution and implementing mill automation processes , including the installation of high intensity

grinding technologies in order to increase efficiencies and red uce production costs. In addition, under the new

streaming agreement, we are going back to mine numerous high‐grade silver veins that were previously deemed

uneconomic by the previous operator. In 2018, all‐in sustaining costs at San Dimas are projected to be between

$6.99 to $8.19 per ounce, making it our lowest cost and our largest producing mine.”

M r . N e u m e y e r c o n t i n u e d , “ A t L a E n c a n t a d a , t h e c o n s t r u c t i o n o f th e n e w r o a s t e r i s i n i t s f i n a l s t a g e s .

Commissioning and start up procedures are expected to begin in late August before ramping up to commercial

production by the end of the year. These are exciting times for the Company, our employees and our

stakeholders.”

PRODUCTION TABLE

Q2 Q2 Y/Y Q1 Q/Q

2018 2017 Change 2018 Change

Ore processed/tonnes milled 851,349 691,833 23% 809,775 5%

Total production ‐ ounces of silver equivalent 5,137,318 3,888,944 32% 3,879,678 32%

Silver ounces produced 2,756,263 2,287,188 21% 2,167,030 27%

Gold ounces produced 25,449 15,186 68% 15,887 60%

Pounds of lead produced 3,949,410 7,625,328 ‐48% 4,448,378 ‐11%

Pounds of zinc produced 1,382,760 860,939 61% 1,611,699 ‐14%

QUARTERLY REVIEW

Total ore processed during the quarter at the Company's seven o perating silver mines: San Dimas, Santa Elena,

La Encantada, La Parrilla, Del Toro, San Martin and La Guitarra, amounted to 851,349 tonnes, representing a 5%

increase compared to the previous quarter. The increase in tonnes compared to the prior quarter was primarily

due to the addition of the San Dimas production, offset by a 14% decrease in throughput at La Encantada.

Consolidated silver grades in the quarter averaged 127 g/t compared to 111 g/t in the previous quarter. The 14%

increase in silver grades was primarily the result of the addition of seven weeks of production from San Dimas.

Consolidated silver recoveries averaged 79%, representing a 6% increase compared to the previous quarter. The

Company expects further improvements in recoveries with the anticipated installation and commissioning of the

microbubble flotation columns at La Parrilla in the third quarter of 2018, followed by Del Toro in the first quarter

of 2019. In addition, delivery and installation of the High Intensity Grinding (“HIG”) mills at Santa Elena and San

Dimas are planned for October and November, respectively, followed by commissioning over the following

quarter. The benefits of this new technology, most notably higher recoveries and lower operating costs, are

expected to be realized after completing ramp up to commercial production in the first half of 2019.

The Company's underground development in the second quarter con sisted of 17,838 metres, reflecting a 20%

increase compared to 14,914 metres completed in the previous qu arter. Additional development contractors

were brought in during the second quarter at La Encantada and D el Toro to focus on increasing development

rates to support production. Development remains focused on ope ning new production areas, exploring high

potential zones and new stope preparation.

During the quarter, up to 29 diamond drill rigs were active acr oss the Company’s properties. A total of 298 drill

holes were completed for a total of 73,899 metres on the seven producing assets as well as the Plomosas Silver

Project, representing a 65% increase in drilled metres compared to the previous quarter. Primary exploration

activities focused on replacement deposits at the Quebradillas mine and the epithermal vein system at Cerro de

Santiago at La Parrilla, exploring extensions of the main Santa Elena vein, vein splays of Santa Elena and at the

Ermitaño‐West project at Santa Elena, exploring Santa Jessica, Santa Regina and Alexa veins in the Central block

and Sinaloa Graben at San Dimas and exploring vein mineralizati on at the San Juan mine at the Plomosas Silver

Project.

MINE BY MINE PRODUCTION TABLE

1) San Dimas production was over the period May 10, 2018 to June 30, 2018, or 52 days.

*Certain amounts shown may not add exactly to the total amount due to rounding differences.

*The following prices were used in the calculation of silver eq uivalent ounces: Silver: $16.52 per ounce; Gold: $1,300 per oun ce; Lead: $1.08 per pound;

Zinc: $1.41 per pound.

Mine

Ore

Processed

Tonnes

per Day

Silver Oz

Produced

Gold Oz

Produced

Pounds of

Lead

Pounds of

Zinc

Equivalent

Silver Ounces

San Dimas(1) 85,765 1,649 808,923 11,348 ‐ ‐ 1,698, 382

Santa Elena 228,054 2,506 535,015 11,040 ‐ ‐ 1,407, 880

La Encantada 237,862 2,614 325,603 23 ‐ ‐ 327, 458

La Parrilla 123,642 1,359 360,862 235 1,653,868 1,382,760 605,826

Del Toro 65,879 724 167,591 73 2,295,542 ‐ 323, 714

San Martin 74,431 818 419,815 1,331 ‐ ‐ 524, 843

La Guitarra 35,715 392 138,454 1,399 ‐ ‐ 249, 214

Total 851,349 9,355 2, 756,263 25,449 3,949,410 1,382,760 5,137,318

At the San Dimas Silver/Gold Mine:

 For the last seven weeks of the second quarter after acquiring S a n D i m a s , t h e o p e r a t i o n p r o d u c e d

808,923 ounces of silver and 11,348 ounces of gold for a total production of 1,698,382 silver equivalent

ounces.

 The mill processed a total of 85,765 tonnes with average silver and gold grades of 307 g/t and 4.3 g/t,

respectively.

 A total of 2,481 metres of underground development was completed in the second quarter.

 Six drill rigs completed 22 drill holes for a total of 10,522 metres of exploration drilling during the quarter

with a primary focus around Santa Jessica, Santa Regina and Alexa veins in the Central block and Sinaloa

Graben.

At the Santa Elena Silver/Gold Mine:

 During the quarter, Santa Elena produced 535,015 ounces of silver and 11,040 ounces of gold for a total

production of 1,407,880 silver equivalent ounces, reflecting a 9% decrease compared to the prior

quarter.

 The mill processed a total of 228,054 tonnes, consisting of 128,200 tonnes of underground ore and

99,854 tonnes from the above ground heap leach pad.

 Silver and gold grades from underground ore averaged 120 g/t an d 2.3 g/t, respectively. Silver and gold

grades from the above ground heap leach pad averaged 36 g/t and 0.7 g/t, respectively.

 A total of 2,926 metres of underg round development was complete d in the second quarter compared

to 3,030 metres of development in the previous quarter.

 Four drill rigs completed 35 drill holes for a total of 10,717 metres of exploration drilling during the

quarter compared to 7,097 metres of drilling in the previous quarter.

At the La Encantada Silver Mine:

 For the quarter, silver production reached 325,603 ounces representing a 28% decrease from the

previous quarter. The decrease in silver production was primarily due to a 14% decrease in tonnes milled

and a 14% decrease in silver recoveries compared to the prior quarter.

 Silver grades and recoveries during the quarter averaged 83 g/t and 51%, respectively. The San Javier

breccia produced 27,500 tonnes with an average silver grade of 103 g/t. Silver grades began to show

improvements starting in June as some of the existing ore extraction points passed through a low‐grade

column of ore blocks and began producing from a high‐grade colu mn. Further grade improvements are

expected in the second half of 2018 due to higher production ra tes from San Javier and the start‐up of

production at the La Prieta breccia.

 The roasting project advanced in the second quarter with the co mpletion of the rotary kiln brick lining,

grate cooler and thermal insulation of the tertiary air duct. At the end of June, approximately 87% of the

project was completed. The coal pulverizing facility, motor control center and electrical wiring are

scheduled to be completed by the end of July. Initial productio n from the roaster is now estimated to

begin in late August and ramp up to commercial production by the end of the year.

 A total of 1,718 metres of underground development were complet ed in the second quarter compared

to 1,445 metres of development in the previous quarter.

 Two drill rigs completed 41 drill holes for a total of 7,020 metres of exploration drilling during the quarter

compared to 4,574 metres of drilling in the previous quarter.

At the La Parrilla Silver Mine:

 During the quarter, the flotation circuit processed 70,771 tonn es (778 tpd) with an average silver grade

of 131 g/t and a 78% recovery while the cyanidation circuit pro cessed 52,871 tonnes (581 tpd) with an

average silver grade of 105 g/t and a 71% recovery for total production of 605,826 silver equivalent

ounces.

 The lead circuit processed an average lead grade of 1.4% with recoveries of 77% for total lead production

of 1.7 million pounds, representing a 3% increase compared to the previous quarter.

 The zinc circuit processed an average zinc grade of 1.5% with recoveries of 60% for total zinc production

of 1.4 million pounds, representing a 14% decrease compared to the previous quarter.

 Underground development complet ed in the quarter totaled 2,761 metres compared to 3,254 metres

developed in the previous quarter.

 Five drill rigs completed 41 drill holes for a total of 10,444 metres of exploration drilling during the

quarter compared to 8,358 metres of drilling in the previous quarter.

At the Del Toro Silver Mine:

 During the quarter, Del Toro produced a total of 323,714 silver equivalent ounces reflecting a 26%

decrease compared to the prior quarter primarily due to a 17% decrease in throughput, and a 12%

decrease in silver grade.

 Silver grades and recoveries during the quarter averaged 117 g/t and 68%, respectively.

 Lead grades and recoveries averaged 2.7% and 58%, respectively, producing a total of 2.3 million pounds

of lead representing a 19% decrease compared to the previous quarter.

 Underground development complet ed in the quarter totaled 3,044 metres compared to 2,836 metres

developed in the previous quarter.

 Three drill rigs completed 70 drill holes for a total of 9,145 metres of exploration drilling during the

quarter compared to 5,824 metres of drilling in the previous quarter.

At the San Martin Silver Mine:

 During the quarter, San Martin produced 419,815 ounces of silve r and 1,331 ounces of gold for a total

production of 524,843 silver equivalent ounces, reflecting a 9% decrease compared to the prior quarter.

The decrease in production was primarily attributed to a 13% decrease in silver grades.

 Silver grades and recoveries averaged 203 g/t and 87%, respectively, during the quarter. In addition, gold

grades and recoveries averaged 0.6 g/t and 87%, respectively.

 Underground development completed in the quarter totaled 2,957 metres compared with 2,966 metres

of development in the previous quarter.

 Three drill rigs completed 36 drill holes for a total of 9,781 metres of exploration drilling during the

quarter compared to 4,928 metres of drilling in the previous quarter.

At the La Guitarra Silver Mine:

 During the quarter, La Guitarra produced 138,454 ounces of silv er and 1,399 ounces of gold for a total

production of 249,214 silver equivalent ounces reflecting a 2% decrease compared to the prior quarter.

 Silver grades and recoveries averaged 154 g/t and 78%, respectively, during the quarter. In addition, gold

grades and recoveries averaged 1.5 g/t and 79%, respectively.

 A total of 1,950 metres of development were completed in the second quarter compared to 1,384

metres of development in the previous quarter.

 Three drill rigs completed 21 drill holes for a total of 7,613 metres of exploration drilling during the

quarter compared to 5,806 metres of drilling in the previous quarter.

SAN DIMAS OPTIMIZATION PLANS

Given its extensive 250‐year produ ction history in Mexico, San Dimas is one of the country’s most prominent

silver and gold mines as well as the largest producing undergro und mine in the state of Durango. However, due

t o p o o r e c o n o m i c c o n d i t i o n s o v e r r e c e n t y e a r s c a u s e d b y w e a k m etal prices and the previous streaming

agreement, the operation suffered from a lack of investment. Under the new streaming arrangement as of May

10th, the operation is now generating significant cash flows al lowing First Majestic to deploy capital towards

exploration and underground development in areas of the mine that were previously deemed uneconomic.

Since the acquisition announcemen t in January 2018, First Majes tic has been developing a long‐term mine and

mill automation plan for the future of the operation. The Company has identified numerous projects that will be

implemented over the next 12 to 18 months to improve production costs at the mine and processing plant,

including:

1) Implementation of High Intensity Grinding technology

2) Lime automation and pH control

3) Upgrading the tailings filtration plant

4) Modernization of the Merrill‐Crowe and smelting operations

5) Installation of the third counter‐current decantation tank

6) Estimated 40% reduction in ore drive development dimensions allowing for reduced dilution and

reductions in costs associated with standard ground support

7) Pillar recoveries from Tayoltita, Santa Rita and Noche Buena mines

In the second half of the 2018, production rates at San Dimas are expected to average 1,700 tpd with estimated

average silver and gold grades of 345 g/t and 3.9 g/t, respectively. It should be noted that many of the anticipated

benefits from these mine and mill modifications are not yet ref lected in the forecasted operating results below

and is expected to take several operating quarters to materialize.

OUTLOOK

Following the transformational acquisition of the San Dimas operation, the Company will be implementing

various cost saving programs and operational modifications in order to improve profitability across the portfolio

of assets. The Company has revised its annual production guidance to incorporate the following operational

adjustments:

1. The addition of approximately 3.7 to 4.0 million ounces of silv er (or 7.1 to 7.7 million silver equivalent

ounces) of production in 2018 from San Dimas. On an annualized rate, production at San Dimas is

projected to be 5.8 to 6.4 million ounces of silver (or 10.8 to 12.0 million silver equivalent ounces).

2. Increased silver grades at Santa Elena to 94 g/t compared to the previous estimate of 89 g/t, due to mine

sequencing into areas of the mine with higher silver grades and lower gold grades. Blended gold grades

from the heap leach pad together with fresh underground ore are expected to average 1.5 g/t for the

full year compared to 1.7 g/t which was achieved in the first half of the 2018.

3. Reduction of head grades at La Encantada to 110 g/t, from previous estimates of 150 g/t, due to a delay

in accessing higher grade materi al from sub‐level caving at the San Javier and La Prieta breccias. The

slight production delay was due to difficult ground conditions affecting drilling and support in the cave

i n i t i a t i o n a n d h a v e s i n c e b e e n r e solved. Grades and tonnage from these two areas are expected to

increase in the second half of 2018 and improve silver producti on. In addition, initial production from

the new roaster is now scheduled to begin at the end of August, previous start‐up guidance was March,

and ramping up to commercial production by the end of the year. T h e d e l a y s w i t h t h e r o a s t e r a n d

accessing higher grade ounces from sub‐level caving resulted in approximately a 1.0 million ounce

deferral in annual silver production at La Encantada compared to the original guidance.

4. Reduction in throughput at Del Toro in the second half of the year to 800 tpd due to decreased

development rates in the San Juan and Dolores mines. In additio n, silver recoveries are now planned at

67% compared to 78% due to a higher volume of transitional ore being processed through the flotation

circuit. The microbubble flotation cells which are planned to be installed in the first quarter of 2019 are

expected to improve these recoveries.

5. Following an extensive review of the La Guitarra operation, the Company has decided to place the mine

and mill under care and maintenance and review strategic option s including the potential sale of the

operation. The decision to place the operation under care and maintenance, which is scheduled for

August 1st, has been a difficult decision for management. Unfortunately, the reallocation of capital and

resources to projects that have better economics and internal rates of return such as the newly acquired

San Dimas operation are taking p riority. The Company will cont inue with current permitting activities

and remediation programs to prepare the operation for a potential reopening in the future, subject to a

sufficient improvement in the economic situation to justify a restart of the operation.

As a result of these operational modifications, our 2018 annual silver production has been increased to an

estimated range of 12.0 to 13.2 million ounces, or 20.5 to 22.6 million silver equivalent ounces. This compares

to the previous annual production guidance of 10.6 to 11.8 million ounces of silver, or 15.7 to 17.5 million silver

equivalent ounces.

The Company is also providing guidance for the second half of 2 018 on a mine‐by‐mine basis below. Cash cost

a n d A I S C g u i d a n c e i s s h o w n p e r p a y a b l e s i l v e r o u n c e . M e t a l p r i ce and foreign currency assumptions for

calculating silver equivalent ounc es were unchanged compared to the previous budget; silver: $16.50/oz, gold:

$1,250/oz, lead: $1.10/lb, zinc: $1.40/lb, MXN:USD 19:1.

GUIDANCE FOR SECOND HALF OF 2018

Mine Silver Oz (M) Silver Eqv Oz Cash Costs ($) AISC ($)

San Dimas 2.9 – 3.2 5.4 – 6.0 2.71 – 3.74 7.12 – 8.64

Santa Elena 1.2 – 1.3 2.4 – 2.7 5.70 – 6.67 9.52 – 10.63

La Encantada 1.4 – 1.6 1.4 – 1.6 11.74 – 12.52 15.47 – 16.58

La Parrilla 0.7 – 0.8 1.2 – 1.3 8.65 – 9.29 14.71 – 15.76

Del Toro 0.4 – 0.5 0.8 – 0.9 10.74 – 12.08 21.61 – 24.20

San Martin 0.9 – 1.0 1.0 – 1.2 8.60 – 9.30 11.83 – 12.82

La Guitarra 0.04 0.07 15.15 – 16.29 29.63 – 31.70

Consolidated 7.6 – 8.4 12.4 – 13.8 $6.63 ‐ $7.54 $13.28 ‐ $14.84

*Certain amounts shown may not add exactly to the total amount due to rounding differences.

*Consolidated AISC includes general and administrative cost estimates and non‐cash costs of $1.99 to $2.22 per payable silver ounce.

In the second half of 2018, the Company expects silver producti on to range between 7.6 – 8.4 million ounces,

representing a 55% to 71% increase when compared to 4.9 million silver ounces produced in the first half of

2018. Additionally, total production is now expected to range between 12.4 – 13.8 million silver equivalent

ounces in the second half of 2018, representing a 38% to 53% increase when compared to 9.0 million silver

equivalent ounces produced in the first half of 2018.

A mine‐by‐mine breakdown of the revised full year 2018 production guidance is included in the table below and

assumes the same metal prices and foreign currency assumptions as stated previously.

GUIDANCE FOR FULL YEAR 2018

Mine Silver Oz (M) Silver Eqv Oz Cash Costs ($) AISC ($)

San Dimas 3.7 – 4.0 7.1 – 7.7 2.88 – 3.66 6.99 – 8.19

Santa Elena 2.1 – 2.3 5.0 – 5.6 2.48 – 3.03 7.28 – 8.18

La Encantada 2.1 – 2.3 2.1 – 2.4 14.25 – 14.79 18.52 – 19.47

La Parrilla 1.4 – 1.5 2.3 – 2.5 9.67 – 10.08 15.77 – 16.70

Del Toro 0.7 – 0.8 1.5 – 1.6 12.16 – 12.91 22.25 – 24.15

San Martin 1.7 – 1.9 2.0 – 2.2 8.61 – 9.00 11.53 – 12.20

La Guitarra 0.3 0.5 11.17 – 11.45 20.28 – 21.38

Consolidated 12.0 – 13.2 20.5 – 22.6 $7.18 ‐ $7.75 $14.53 ‐ $15.83

*Certain amounts shown may not add exactly to the total amount due to rounding differences.

*Consolidated AISC includes general and administrative cost estimates and non‐cash costs of $2.42 to $2.69 per payable silver ounce.

Annual cash costs are now expected to be within the range of $7.18 to $7.75 per ounce, compared to the

previous guidance of $8.30 to $9.09 per ounce, primarily due to the addition of the low‐cost San Dimas operation.

In addition, annual all‐in sustaining costs are now expected to be within a range of $14.53 to $15.83 per ounce,

compared to the previous guidance of $15.21 to $16.56 per ounce.

REVISED CAPITAL BUDGET

The Company has updated its 2018 capital budget to include the San Dimas operation as well as the reallocation

of capital for development and exploration across its operations. As a result, total capital investments for 2018

are now estimated at $148.7 million, consisting of $64.8 millio n for sustaining requirements and $83.9 million

for expansionary projects. This represents a 19% increase compared to the original 2018 capital budget of $125.4

million primarily due to the inclusion of the San Dimas operation and additional investments related to corporate

projects. The revised budget includes $59.2 million to be spent on underground development, $35.6 million

towards property, plant and equipment, $27.4 million in exploration and $26.5 million towards corporate

projects including mill automation and HIG mill technology. On a mine‐by‐mine basis, capital expenditures in the

second half of 2018 are estimated to be $22.4 million at San Di mas, $11.4 million at Santa Elena, $11.1 million

at La Encantada, $8.9 million at La Parrilla, $7.9 million at D el Toro, $5.8 million at San Martin and $2.6 million

at La Guitarra.

Revised 2018 Capital Budget ($millions) Sustaining Expansionary Total

Underground Development 32.8 26.4 59.2

Exploration 4.4 23.0 27.4

Property, Plant and Equipment 23.9 11.7 35.6

Corporate Projects 3.5 23.0 26.5

Total $64.8 $83.9 $148.7

*Certain amounts shown may not add exactly to the total amount due to rounding differences.

In the first half of 2018, the Company completed 32,752 metres of underground development and 118,726

metres of exploration drilling. Under the revised 2018 budget, the Company is now expecting to complete a total

of 76,700 metres of underground development, representing a 6% increase compared the original budget of

72,477 metres. In addition, the Co mpany is now planning to comp lete a total of 203,500 metres of exploration

drilling in 2018, representing an 11% increase compared to the original budget of 183,000 metres, primarily due

the addition of 33,400 metres of exploration drilling planned at San Dimas.

APPOINTMENT OF VP OF EXPLORATION

The Company is pleased to announce the appointment of Greg Kull a as Vice President of Exploration who will

lead all exploration activities at the Company’s growing portfo lio of projects in Mexico. Mr. Kulla has over 30

years of experience exploring and evaluating mineral deposits a nd resource estimates that support operating

mines. Prior to joining First Majestic, Greg was with Amec Foster Wheeler (“Amec”), a multinational consultancy,

engineering and project management company, for 13 years holdin g the position of Principal Geologist.

Additionally, Mr. Kulla also has 18 years of experience as an exploration geologist prior to joining Amec covering

a diverse set of base, precious metal and industrial mineral deposit types worldwide including vein‐hosted silver,

epithermal and orogenic gold, porphyry copper‐gold‐silver‐molyb denum, polymetallic skarn, sediment‐hosted

copper and sulphide nickel projects. He has extensive experienc e in mineral exploration, resource estimation,

data quality assurance and quality control evaluation, technical audits and due diligence reviews.

CONFERENCE CALL

The Company will be holding a conference call and webcast on Tuesday, July 17, 2018 at 8am PDT (11 am EDT).

To participate in the conference call, please dial the following:

Toll Free Canada & USA: 1‐800‐319‐4610

Outside of Canada & USA: 1‐604‐638‐5340

Toll Free Germany: 0800 180 1954

Toll Free UK: 0808 101 2791

Participants should dial in 10 minutes prior to the conference. Click on WEBCAST on the First Majestic homepage

as a simultaneous audio webcast of the conference call will be posted at www.firstmajestic.com.

The conference call will be recorded and you can listen to an archive of the conference by calling:

Canada & USA Toll Free: 1‐800‐319‐6413

Outside Canada & USA: 1‐604‐638‐9010

Access Code: 2450 followed by the # sign

The replay will be available approximately one hour after the c onference and will available for 7 days following

the conference. The replay will also be available on the Company’s website for one month.

Q2 EARNINGS ANNOUNCEMENT

The Company is planning to releas e its second quarter 2018 unau dited financial results on Monday, August 13,

2018.

ABOUT THE COMPANY

First Majestic is a mining compan y f o c u s e d o n s i l v e r p r o d u c t i o n in Mexico and is aggressively pursuing the

development of its existing mineral property assets. The Company presently owns and operates seven producing

silver mines; the San Dimas Silver/Gold Mine, the Santa Elena S ilver/Gold Mine, the La Encantada Silver Mine,

the La Parrilla Silver Mine, the San Martin Silver Mine, the De l Toro Silver Mine and the La Guitarra Silver Mine.

Production from these seven mines is projected to be between 12.0 to 13.2 million ounces of pure silver or 20.5

to 22.6 million ounces of silver equivalents in 2018.

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