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First Majestic Silver

Operational Mines FR:TSE

First Majestic owns six producing silver mines in Mexico including the La Encantada Silver Mine, the La Parrilla Silver Mine, the San Martin Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine, and the Santa Elena Silver Mine.

The Company's first operating mine, the La Parrilla Silver Mine, was acquired in 2004 and is located conveniently outside the city of Durango. The property underwent its fifth major development project in 2012 that further expanded the mill to 2,000 tpd (from the previous 850 tpd). The expansion was deemed commercially effective on March 1, 2012 and the parallel 1,000 tpd flotation and 1,000 tpd cyanidation circuits became fully operational. At the current run rate of 2,000 tpd, it is anticipated that La Parrilla will produce approximately 3.0 million ounces of silver (or 4.5 million silver equivalent ounces) per year.

First Majestic next acquired the La Encantada Silver Mine, located in the state of Coahuila, in 2006. The Company began the construction of a 4,000 tpd cyanidation circuit in 2008. By April 2010, commercial production was achieved increasing annual silver production by 200% to approximately 4.0 million ounces of silver, all in the form of silver doré bars. In 2015, the Company further expanded the crushing and grinding area at La Encantada by installing a new 12’ X 14’ ball mill which is estimated to increase silver production by an additional 1.0 million ounces per year.

First Majestic's third operating mine, the San Martin Silver Mine, was also acquired in 2006 and recently underwent an expansion from 950 tpd to 1,300 tpd. This expansion was completed in October 2013. At full capacity, San Martin's annual silver production is projected to reach 2.0 million ounces of silver in the form of doré bars plus modest amounts of gold.

In 2012, the Company completed the acquisition of Silvermex Resources which resulted in the La Guitarra Silver Mine becoming the Company's fourth producing silver mine. Since acquiring the mine, First Majestic has increased the mill capacity from 350 tpd to 500 tpd which is projected to produce approximately 1.0 million ounce of silver per year plus modest amounts of gold. Further planning and permitting is underway for an additional mill upgrade to 1,000 tpd.

The Del Toro Silver Mine, began operations in the first quarter of 2013. Del Toro has a throughput capacity of 4,000 tpd (2,000 tpd flotation + 2,000 tpd cyanidation). Following an operational review in late 2014, the Company decided to reconfigure the plant and process all of the underground ore through the 2,000 tpd flotation circuit. The 2,000 tpd cyanidation circuit remains on care and maintenance until further notice. At, 2,000 tpd, the mine is projected to produce approximately 3.0 million ounces of silver per year (or 4.0 million silver equivalent ounces) .

Recently added with the completion of the acquisition of SilverCrest Mines Inc., are the Santa Elena Silver Mine and La Joya Silver Project. Santa Elena is located in the State of Sonora, Mexico. The operation comprises a high‐grade, epithermal silver and gold deposit, along with a 3,000 tpd conventional milling facility. Santa Elena is projected to produce approximately 5 million silver equivalent ounces per year.

The La Joya property is approximately 75kim southeast of the state capital city of Durango, state of Durango, Mexico. The property consists of 15 concessions with a total nominal area of 4,647 hectares.

Management feels strongly that investors will continue to witness another dramatic bull market in precious metals over the coming years. For this reason, a focus to continue to develop and increase production at its core assets will continue. In addition, management is determined to expand First Majestic's asset base and thus continues to investigate other interesting advanced stage silver projects in Mexico. With a Management team comprised of proven company and mine builders, shareholders are poised to capitalize on First Majestic's rapid evolution into a world class silver producer.

First Majestic is a mining company focused on silver production in México and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.

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