FR Frankfurt – FMV Mexico ‐ AG First Majestic Reports Accident at La Encantada
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 October 3, 2017
Toronto – FR
Frankfurt – FMV
Mexico ‐ AG
First Majestic Reports Accident at La Encantada
First Majestic Silver Corp. ("First Majestic" or the "Company") reports an accident occurred at its La Encantada
Silver Mine in the state of Coahuila, Mexico.
The accident occurred as part of the construction of the 790 ra mp at the La Encantada mine. A total of four
miners lost their lives due to gas intoxication which accumulat ed in the area. There was no explosion as other
media sources have reported. It is believed the operator of a s coop tram lost consciousness while mucking the
area. Three additional miners later arrived to the scene to provide assistance to the ill miner. The four men were
carrying all required personal protection equipment, including safety belt breathing apparatuses, but sadly did
not use the equipment. The emergency response crew was dispatched and successfully extracted the four miners
before transporting them to the local hospital where they were later pronounced deceased.
"Our thoughts and prayers are with the families during this tra gic time," said Keith Neumeyer, President and
Chief Executive Officer. "Safety is a top priority at First Maj estic and we will continue to work to prevent such
accidents from occurring."
The accident is being investigated by the Company and Mexican a uthorities. The workers' families have been
notified. Immediately following the accident, First Majestic chose to cease mining operations at the mine in order
to focus attention on the response and to provide support to the families of the deceased. The Company expects
to resume mining operations on October 4, 2017 but the 790 area will remain closed until the investigation is
completed.
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 Compan y presently owns and 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/Gol d M i n e . P r o d u c t i o n f r o m t h e s e s i x m i n e s i s
projected to be between 10.0 to 10.6 million ounces of pure silver or 15.7 to 16.6 million ounces of silver
equivalents in 2017.
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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 statements", within the meaning of the United States Private Securities Litigatio n Reform Act of
1995 and applicable Canadian securit ies legislation, concerning the business, operations and financial performance and conditi on of First
Majestic Silver Corp. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver and other
metals, the estimation of mineral reserves and resources, the r ealization of mineral reserve e stimates, the timing and amount of estimated
future production, costs of pr oduction, capital expenditures, c osts and timing of the development of new deposits, success of exploration
activities, permitting time li nes, hedging practices, currency exchange rate fluctuations, requi rements for additional capital , government
regulation of mining operations , environmental risks, unanticip ated reclamation expenses, timing and possible outcome of pendi ng litigation,
title disputes or cl aims and limitations on insurance coverage. Generally, these forward-look ing statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", " budget", "scheduled", "estimates" , "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certai n actions, events or
results "may", "could", "would", "might" or "will be taken", "o ccur" or "be achieved". Forward- looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of First Majestic
Silver Corp. to be materially di fferent from those expressed or implied by such forward-looking statements, including but not limited to: risks
related to the integration of acquisitions; risks related to in ternational operations; risks related to joint venture operatio ns; actual results of
current exploration activities; actual results of current recla mation activities; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; future prices of metals; possible variations in ore reserves, grade or recovery rates; failure of plant,
equipment or processes to operate as anticipated; accidents, la bour disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing or in the completion of dev elopment or construction activiti es, as well as those factors d iscussed in the
section entitled "Description of the Business - Risk Factors" i n First Majestic Silver Corp.'s Annual Information Form for the year ended
December 31, 2016, available on www.sedar.com, and Form 40-F on file with the United States Securities and E xchange Commission in
Washington, D.C. Although First Majestic Silver Corp. has atte mpted to identify important facto rs that could cause actual res ults to differ
materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated
or intended. There can be no assurance that such statements wi ll prove to be accurate, as actual results and future events co uld differ
materially from those anticipated in such statements. Accordin gly, readers should not place undue reliance on forward-looking
statements. First Majestic Silver Corp. does not undertake to update any forward-looking statements that are incorporated by reference herein,
except in accordance with applicable securities laws.