First Majestic Silver Corporation (AG)

First Majestic Receives Construction Permits for Santo Niño and Navidad; Advances Development Across the Santa Elena DistrictJune 25, 2026 4:15 PM
NewsfileInfill drilling at Santo Niño and Navidad returns multiple significant silver and gold intercepts, including high-grade results from resource-conversion drilling.Permits received for construction of the Santo Niño and Navidad portals.Additional $12 million investment planned in 2026 to advance underground access and position Santo Niño for near-term mining.Vancouver, British Columbia--(Newsfile Corp. - June 25, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce positive infill drilling results from the Santo Niño and Navidad targets at its Santa Elena Silver/Gold Mine in Sonora, Mexico. The Company has also received the permits required to construct the Santo Niño and Navidad portals and plans to invest an additional $12 million in 2026 to advance underground access, portal construction, and development work intended to position Santo Niño for near-term mining."The continued advancement of Santo Niño and Navidad marks an important step in unlocking the next phase of growth at Santa Elena," stated Keith Neumeyer, CEO of First Majestic. "Infill drilling continues to return significant silver and gold intercepts at both targets. With construction permits now received for the Santo Niño and Navidad portals, and an additional $12 million investment planned in 2026, we are moving Santo Niño from discovery toward near-term mining readiness while continuing to advance Navidad, one of the most significant discoveries made at Santa Elena to date. Together, Santo Niño and Navidad are expected to become important contributors to the future mine plan and have the potential to materially extend Santa Elena's mine life."2026 EXPLORATION HIGHLIGHTSSanto Niño Vein SystemTo date, a total of 26,904 metres ("m") of drilling has been completed across 69 holes in 2026 at Santo Niño as part of the Company's ongoing resource-conversion and development-focused drilling program. Drilling at Santo Niño has focused primarily on infilling the current Inferred Mineral Resources to support potential conversion to Indicated Mineral Resources and to advance near-term mine planning. Results received to date include significant silver and gold intercepts that are overall better than modeled and confirm the presence of higher-grade mineralization in the western portion of the vein.Navidad Vein SystemTo date, a total of 7,704 m of drilling has been completed across 10 holes at Navidad in 2026. Drilling has focused primarily on supporting potential conversion of Inferred Mineral Resources to Indicated Mineral Resources at the Winter vein which, based on its geometric configuration, is expected to play an important role early in the future mine schedule. Results received to date include high-grade silver and gold intercepts near the edge of the current Inferred Mineral Resource. Figure 1: Santa Elena District Map Highlighting Santo Niño and Navidad Target Areas. Plan View.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/302888_5632c92074479b28_002full.jpgKEY DRILLING HIGHLIGHTSTable 1 presents a selection of significant silver and gold drill hole intercepts from the 2026 Santa Elena drilling program at Santo Niño and Navidad. The selected intercepts include results from resource-conversion drilling at the Santo Niño vein and the Winter vein at Navidad. Table 1: Selection of Significant Drill Hole Intercepts from the Santa Elena 2026 Drill Program Drillhole  Target    Significant Intercept  From
(m)  To
(m)  True Width
(m)   Ag
 (g/t)   Au
 (g/t) AgEq
(g/t) Santo Niño Target SE-26-84Santo Niño Vein 229.35234.153.682528.46 886SE-26-76Santo Niño Vein 203.70216.905.58905.23 482SE-26-65Santo Niño Vein 197.35204.055.801114.04 414SE-26-86Santo Niño Vein 339.15341.201.5733315.21 1474SE-26-82Santo Niño Vein 365.35377.9010.87771.52 191Navidad Target  EWUG-26-089Winter Vein562.65565.302.4935923.592128 EWUG-26-091Winter Vein601.65617.5014.89283.5291 EWUG-26-088Winter Vein600.15605.003.4335811.99 1257 Drilling remains ongoing at the Santo Niño and Navidad targets. At Santo Niño, drilling is being completed as part of a planned program of approximately 45,000 m in 2026. At Navidad, drilling is being completed as part of a planned program of approximately 17,000 m in 2026. The drilling is intended to increase data density, improve understanding of the mineralized volume, grade continuity, and vein geometry, and support potential conversion of Inferred Mineral Resources to Indicated Mineral Resources. This work is expected to strengthen geological confidence and support the basis for underground access design, mine planning, production scheduling, and economic evaluation. Significant silver and gold mineralization intersected within the Santo Niño vein currently extends approximately 1,100 m along strike and 425 m down dip and the mineralization averages approximately 4.0 m in thickness ranging from 1.0 m to 16.0 m (Figure 2). Mineralized secondary veins and breccias in the hanging wall and/or footwall of the principal vein have also been identified in several drill holes and remain under investigation.Figure 2: Santo Niño Vein Long Section Looking North with Significant InterceptsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/302888_5632c92074479b28_003full.jpgSignificant silver and gold mineralization intersected within the Winter vein currently extends approximately 1,000 m along strike and 350 m down dip, with true thickness ranging from 2.8 m to 4.4 m (Figure 3). The 2026 drilling continues to support evaluation of the Winter vein as a potentially important early mining area within the Navidad mineralized system. Figure 3: Winter Vein Long Section Looking Northwest with Significant InterceptsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/302888_5632c92074479b28_004full.jpgADVANCING UNDERGROUND ACCESS TO SANTO NIÑO AND NAVIDADThe Company is advancing Santo Niño and Navidad from resource definition toward underground development, supported by recently received portal construction permits and an additional $12 million investment planned for 2026. This next phase of work is expected to establish dedicated underground access to both areas, support decline and ramp development, and position higher-grade mineralization from Santo Niño and Navidad to contribute to the future Santa Elena district production profile.A recently completed scoping-level study identified dedicated underground access as the preferred approach to advance the Santo Niño and Navidad mineral resources. At Santo Niño, the preferred access concept includes a dedicated portal, the Santo Niño portal, and an approximately 450 m haul road connecting the portal area to the existing Ermitaño haul road.The study also indicates that development of an additional portal, the Navidad portal, located approximately 300 m from the Santa Elena processing facilities, together with ramp development from the lower levels of Ermitaño to provide secondary egress and ventilation, is expected to provide an efficient route to Navidad mineralization and support future haulage of mineralized material from the Navidad area (Figure 4).Preliminary mining and processing schedules for the Santa Elena district resources indicate that higher-grade mineralization from Santo Niño and Navidad has a positive impact on production profiles, displacing lower-grade mineralization from other deposits.The additional 2026 funding is planned to support construction of the Santo Niño and Navidad portals, advance hydrogeological studies, construct the haul road linking the Santo Niño portal to the Ermitaño haul road, complete approximately 800 m of decline development at Santo Niño, and complete an additional 1,300 m of development in the Ermitaño-to-Navidad ramp and from the Navidad portal.Figure 4: Proposed Santo Niño and Navidad Portals and Access Development. Plan View (Top) and Orthogonal View Looking North-Northwest (Bottom)To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/302888_5632c92074479b28_005full.jpgPermittingThe Company has received the permits required for construction of the Santo Niño and Navidad portals, representing a key regulatory milestone in advancing toward underground development activities for the two mineral resources. With these permits now in hand, the Company plans to commence portal construction and related infrastructure work in the second half of 2026.Summary of Significant Assay ResultsA summary of significant assay results from exploration drilling completed at Santo Niño and Navidad during the first half of 2026 are provided in Table 2 and Table 3 below.Table 2: Summary of Significant Silver and Gold Drill Hole Intercepts at Santo Niño Drillhole Target  Target TypeSignificant Intercept  From
(m)To
(m) True Width
(m) Au 
 (g/t) Ag 
 (g/t) AgEq 
 (g/t) SE-25-58Santo Niño VeinResource addition 935.85942.203.180.5863107SE-25-61Santo Niño VeinResource conversion811.00814.803.112.3479255SE-26-62Santo Niño VeinResource conversion201.85205.953.146.31131604
IncludeResource conversion203.35203.850.3827.854772566SE-26-63VeinResource addition 467.20468.751.103.5163326
Santo Niño VeinResource conversion478.55480.101.193.74172452SE-26-65Santo Niño VeinResource conversion197.35204.055.804.04111414
IncludeResource conversion202.30202.750.3911.8993985SE-26-66Santo Niño VeinResource conversion198.65200.751.726.30145617
IncludeResource conversion199.45200.250.6610.832911104SE-26-67Santo Niño Vein 1Resource conversion467.00469.101.611.7660192
Santo Niño Vein 2Resource conversion470.50472.951.882.2317184SE-26-68Santo Niño VeinResource conversion165.60171.054.173.6389361
IncludeResource conversion167.25167.800.4210.84111924SE-26-69Santo Niño Vein 1Resource conversion127.05131.853.682.9632254
IncludeResource conversion129.45130.000.4213.46511061
Santo Niño Vein 2Resource conversion132.80134.201.071.0130106
BrecciaResource addition 192.65197.453.394.3972401
IncludeResource addition 193.20193.550.2519.74781558SE-26-70Santo Niño Vein 1Resource conversion489.15490.551.072.9957282
Santo Niño Vein 2Resource conversion496.30500.853.732.93117337SE-26-71Santo Niño VeinResource conversion156.15157.401.021.54123239SE-26-73Santo Niño VeinResource conversion354.70360.655.395.70120547
IncludeResource conversion356.75357.750.9114.093071363SE-26-74Santo Niño VeinResource conversion178.80184.002.981.4624133SE-26-76VeinResource addition 150.30152.551.592.737212
Santo Niño VeinResource conversion203.70216.905.585.2390482
IncludeResource conversion211.45212.700.5322.993912116SE-26-78Santo Niño VeinResource conversion374.00380.605.063.9259353SE-26-80Santo Niño Vein 1Resource conversion223.90226.902.300.7544100
Santo Niño Vein 2Resource conversion232.05238.004.873.21102342
Santo Niño Vein 3Resource conversion239.75241.301.270.91112180
Santo Niño Vein 4Resource conversion244.05249.204.670.8686150SE-26-82Santo Niño VeinResource conversion365.35377.9010.871.5277191SE-26-84Santo Niño Vein 1Resource conversion220.55227.755.522.1348208
Santo Niño Vein 2Resource conversion229.35234.153.688.46252886
Include 1Resource conversion230.15230.600.3416.603441589
Include 2Resource conversion231.10231.550.3418.614071803
Include 3Resource conversion231.90232.800.6917.235981891SE-26-86Santo Niño Vein 1Resource conversion335.10337.001.466.0791546
IncludeResource conversion336.25336.650.3114.282191290
Santo Niño Vein 2Resource conversion339.15341.201.5715.213331474
IncludeResource conversion340.80341.200.3175.6315907262SE-26-88Santo Niño VeinResource conversion287.50291.452.542.1843206SE-26-90Santo Niño VeinResource conversion160.55162.501.251.7979213SE-26-91Santo Niño VeinResource conversion316.55318.351.1611.521831047
IncludeResource conversion317.00317.450.2937.784533287SE-26-92Santo Niño VeinResource conversion193.55195.801.290.9399168SE-26-93Santo Niño VeinResource conversion356.40366.458.233.3681333
IncludeResource conversion357.95358.650.5722.912872005SE-26-94Santo Niño VeinResource conversion193.50199.703.994.4070400
IncludeResource conversion197.50198.200.4516.891911458SE-26-95Santo Niño VeinResource conversion295.20297.501.881.6078198SE-26-97Santo Niño VeinResource conversion386.15390.703.221.3863167SE-26-99Santo Niño VeinResource conversion320.30325.353.573.90136429
IncludeResource conversion321.80322.350.3915.191481288
IncludeResource conversion324.15324.450.217.1211251660SE-26-100VeinResource addition 775.85777.401.001.0258135SE-26-102-ASanto Niño VeinResource conversion287.25296.906.201.39100205
IncludeResource conversion290.60291.100.3210.924361255SE-26-103Santo Niño VeinResource conversion272.30275.652.740.8274136SE-26-104Santo Niño Vein 1Resource conversion398.15402.052.042.25137306
Santo Niño Vein 2Resource conversion418.85420.101.020.6573121SE-26-105Santo Niño Vein 1Resource conversion299.60301.551.381.8933175
Santo Niño Vein 2Resource conversion310.80313.301.061.448116SE-26-106Santo Niño VeinResource conversion335.45336.951.151.9131174SE-26-108Santo Niño VeinResource conversion415.20416.801.131.25109203SE-26-113Santo Niño Vein 1Resource conversion392.40394.051.064.03112414
Santo Niño Vein 2Resource conversion397.50400.852.152.2742212SE-26-114Santo Niño VeinResource conversion127.40130.151.940.90125192 Table 3: Summary of Significant Silver and Gold Drill Hole Intercepts at NavidadDrillhole Target Target Type Significant Intercept From
(m) To
(m) True Width
 (m) Au
(g/t) Ag
(g/t) AgEq (g/t) EWUG-26-087Winter VeinResource conversion617.50619.001.301.4826137EWUG-26-088Winter VeinResource conversion600.15605.003.4311.993581257
Include 1Resource conversion600.15601.050.6434.287733345
Include 2Resource conversion601.35602.050.4926.055842538
San Nicolas VeinResource addition 732.45736.702.733.1473308EWUG-26-089Winter VeinResource conversion562.65565.302.4923.593592128EWUG-26-091Winter VeinResource conversion601.65617.5014.893.5028291
Include 1Resource conversion603.00603.350.3311.7088966
Include 2Resource conversion605.35605.750.3810.2077843
Include 3Resource conversion607.50608.000.4710.3249823 Notes: All holes are Diamond Drill Core; AgEq grade = Ag grade (g/t) + [Au (g/t) * 75].From and To length indicated in metres, true width of the intercept is calculated per drill hole and vein angles.See Appendix for details regarding drill hole locations, sample type, azimuth, dip and total depth.Significant silver and gold drill hole intercepts were composited using the length weighted averages of uncapped sample assays, a 90 g/t AgEq minimum grade (Cut-off-Grade, "COG") for Santo Niño, and 110 g/t AgEq minimum grade for Navidad; minimum composite length of 1.0 m (true width). A maximum of 1.0 m below the minimum grade cut-off was allowed as internal dilution. Where necessary to achieve minimum length, a single sample below the COG but grading >70g/t AgEq was allowed to be composited for short intervals.Where present, single samples or intercepts with assay results higher than 1000 g/t Ag and/or 10 g/t Au are highlighted as "Include" in each intercept.DATA VERIFICATIONFirst Majestic's drilling programs follow established Quality Assurance, Quality Control ("QA/QC") insertion protocols with standards, blanks, and duplicates introduced into the sample-stream. After geological logging, all drill core samples are cut in half. One half of the core is submitted to the laboratory for analysis, and the remaining half core is retained on-site for verification and reference purposes or for future metallurgical testing. Core samples were submitted to the SGS laboratory (ISO/IEC 17025:2017) and to the First Majestic Central laboratory (Central laboratory) (ISO 9001:2015). At SGS, gold is analyzed by 50 g fire assay atomic absorption finish (GE-FAA50V5). Results above 10 g/t gold are analyzed by 50 g fire assay gravimetric finish (GO-FAG50V). Silver is analyzed by 3-acid digest atomic absorption finish (GE-AAS33E50). Results above 100 g/t silver are analyzed by 50 g fire assay gravimetric finish (GO-FAG57V). At Central laboratory, gold is analyzed by 30g fire assay atomic absorption finish (AU-AA13). Results above 10 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14). Silver is analyzed by 3-acid digestion atomic absorption finish (AAG-13). Results above 100 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14, ASAG-13).For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recently filed Annual Information Form available under the Company's SEDAR+ profile at www.sedarplus.ca and the Company's Annual Report on Form 40-F for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.QUALIFIED PERSONSGonzalo Mercado, P. Geo., the Company's Vice-President, Exploration & Technical Services and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine located in northeastern Nevada, U.S.A, which the Company is currently in the process of re-starting.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEOCautionary Note Regarding Forward Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Forward-looking statements in this news release include but are not limited to statements with respect to: the Company's plans to invest an additional $12 million in 2026 to advance underground access, portal construction, and development work to position Santo Niño for near-term mining; the Company's expectations regarding the impact of the Santo Niño and Navidad vein systems on the future mine plans at Santa Elena; and the Company's planned drilling programs for Santo Niño and Navidad for 2026 and the results of such programs. These statements are not based on a pre-feasibility level study of Mineral Reserves that demonstrate the economic and technical viability of Santo Niño and Navidad. There is increased uncertainty related to the economics of mining Santo Niño and Navidad and increased technical risks of failure associated with a decision to initiate production from these areas prior to completing a pre-feasibility level study. The statements made relating to initiating mining at Santo Niño and Navidad are not based on a current technical report. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions, or expectations upon which they are placed will occur. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "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". Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates 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 the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes; general economic conditions including inflation risks; labour relations; relations with local communities; changes in national or local governments; exchange rate fluctuations; environmental risks; requirements for additional capital; outcomes of pending litigation; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations as well as those factors discussed in the section entitled "Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2025 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca and in the Company's Annual Report on Form 40-F for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar. Although the Company has attempted to identify important factors that could cause actual results 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.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.Cautionary Note to United States InvestorsThe Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.APPENDIX - DRILL HOLE DETAILSTable A1: Drill Hole Collar Location, Sample Type, Azimuth, Dip and Total Depth from Santa ElenaDrillholeEastNorthElevationAzimuthDipDepth (m)TypeSE-25-585821853320633832190-58982CoreSE-25-615818323320637793170-47878.1CoreSE-26-625811773320194770210-52.4250CoreSE-26-635815113320381837192-43.62516CoreSE-26-655811783320194770195-52.71255CoreSE-26-665811793320194770180-51.65224CoreSE-26-675815113320382837201-43.61513CoreSE-26-685810973320166771201-64.96216CoreSE-26-695810973320165771196-49.03273CoreSE-26-705815113320382837187-47.44530CoreSE-26-715810963320166771217-56.95350CoreSE-26-735813053320294814181-46.84387CoreSE-26-745810973320166771238-57.64261CoreSE-26-765810973320167771247-63.94312CoreSE-26-785813053320295813177-51.37417CoreSE-26-805811803320195770207-60.82309CoreSE-26-825813053320295814186-51.67423CoreSE-26-845811793320195770226-56.38294CoreSE-26-865813043320295814202-44.86381CoreSE-26-885814393320175820199-58.8321CoreSE-26-905812643320128778198-54.21193.8CoreSE-26-915814393320175820204-63.47348CoreSE-26-925812653320128778199-63.9233CoreSE-26-935813063320295814197-48.24392CoreSE-26-945812673320128778173-63.73255CoreSE-26-955814383320175820214-54.6333CoreSE-26-975813063320296814208-55.07420CoreSE-26-995814383320175820219-57.65372CoreSE-26-1005820443320613814183-57.341000CoreSE-26-102-A5809723320358748190-43.06339CoreSE-26-1035814403320175820180-55.73387CoreSE-26-1045813063320296814209-59.86462CoreSE-26-1055814403320175820171-60.35393CoreSE-26-1065814403320175820165-65.9399CoreSE-26-1085813073320296814196-59.51459CoreSE-26-1135813073320295814188-56.79444CoreSE-26-1145812933320075777180-57.6207CoreEWUG-26-087583615331950257917665681CoreEWUG-26-088583615331950257919164789CoreEWUG-26-089583615331950257919058879CoreEWUG-26-091583614331950257920352660Core Notes:All drill hole collar coordinates are determined using total station equipment after hole completion with UTM WGS84, Zone 12 (metres) as the reference system. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302888 Original: First Majestic Receives Construction Permits for Santo Niño and Navidad; Advances Development Across the Santa Elena District

Sierra Madre and First Majestic Announce Closing of Acquisition of the Del Toro Silver Mine for up to US$60MJune 22, 2026 7:00 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - June 22, 2026) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) ("Sierra Madre") and First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) ("First Majestic", and together with Sierra Madre, the "Parties") are pleased to announce that, pursuant to the share purchase agreement dated December 17, 2025 (the "Share Purchase Agreement") between Sierra Madre and First Majestic, Sierra Madre has completed its previously announced acquisition (the "Acquisition") of First Majestic Del Toro, S.A. de C.V. ("Subco"), a wholly-owned subsidiary of First Majestic incorporated under the laws of Mexico that holds a 100% interest in the Del Toro Silver Mine ("Del Toro"), as described in further detail in Sierra Madre's and First Majestic's news releases dated December 17, 2025 and Sierra Madre's management information circular dated March 24, 2026 (the "Circular"). All amounts herein are expressed in Canadian dollars, unless otherwise stated in U.S. dollars ("US$").Alex Langer, Sierra Madre's President and Chief Executive Officer, commented, "The acquisition of Del Toro marks an important step for Sierra Madre Gold and Silver as we advance towards mid-tier silver production. A past-producing asset of this scale is a complementary addition to our Mexico-focused silver portfolio. With existing production infrastructure in place, our focus now turns to near-term resource expansion drilling, with approximately 30,000 metres planned. This program is expected to support an updated Mineral Resource estimate, followed by a potential mine restart, positioning the asset for a return to cash flow generation. We see significant upside at Del Toro, both from resource growth and restart potential. We are excited to get boots on the ground at Del Toro and wish to thank First Majestic for their continued support and trust." Under the terms of the Share Purchase Agreement, and as further described in the Circular, Sierra Madre acquired all of the issued and outstanding shares of Subco in exchange for a cash payment of US$20,000,000 and the issuance to First Majestic of 10,870,000 common shares of Sierra Madre (the "Common Shares") at a deemed price of $1.30 per Common Share, with each occurring at closing. In addition, within 18 months of closing the Acquisition, Sierra Madre must pay First Majestic US$10,000,000 in cash or, at Sierra Madre's option, Common Shares at a price per Common Share equal to the market price (as determined in accordance with the policies of the TSX Venture Exchange (the "TSXV")) on the day prior to issuance of the Common Shares, subject to a maximum of 10,575,385 Common Shares, provided that if the aggregate deemed value (based on the market price of the Common Shares on the day prior to issuance) of the maximum number of Common Shares does not equal US$10,000,000, the remaining balance will be paid in cash.The Share Purchase Agreement also sets out the following future milestone-related payments:if, within 48 months of closing the Acquisition, Sierra Madre files a National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") technical report over any or all of Del Toro that demonstrates "mineral resources" (as defined in NI 43-101) of at least 100 million ounces ("Moz") silver equivalent ("AgEq") or Sierra Madre issues a news release announcing "mineral resources" of at least 100 Moz AgEq (whichever occurs earlier), Sierra Madre must pay First Majestic an additional US$10,000,000 in cash or, at Sierra Madre's option, Common Shares at a price per Common Share equal to the market price (as determined in accordance with the policies of the TSXV) on the day prior to issuance of the Common Shares, subject to a maximum of 10,575,385 Common Shares, provided that if the aggregate deemed value (based on the market price of the Common Shares on the day prior to issuance) of the maximum number of Common Shares does not equal US$10,000,000, the remaining balance will be paid in cash; andif, within 60 months of closing the Acquisition, Sierra Madre achieves commercial production at Del Toro of at least 4,000 tonnes per day ("tpd") for 30 consecutive days, Sierra Madre must pay First Majestic an additional US$10,000,000 in cash or, at Sierra Madre's option, Common Shares at a price per Common Share equal to the market price (as determined in accordance with the policies of the TSXV) on the day prior to issuance of the Common Shares, subject to a maximum of 10,575,385 Common Shares, provided that if the aggregate deemed value (based on the market price of the Common Shares on the day prior to issuance) of the maximum number of Common Shares does not equal US$10,000,000, the remaining balance will be paid in cash.All Common Shares issued to First Majestic in connection with the Acquisition will be subject to a hold period ending on the date that is four months and one day following the date of issuance of the Common Shares. In addition, First Majestic has agreed to the following contractual resale restrictions on all such Common Shares issued:
Release DatesProportion of Total Escrowed Securities to 
be ReleasedDecember 19, 202625%June 19, 202725%December 19, 202725%June 19, 202825% As First Majestic is an insider of the Company, the Acquisition is a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Sierra Madre relied on the exemption from the requirement of a formal valuation for the Acquisition pursuant to subsection 5.5(b) of MI 61-101 as its Shares are not listed on a specified market. Sierra Madre was not exempt from the minority shareholder approval requirements in MI 61-101, and the Acquisition was approved by a simple majority of the votes cast at the Siera Madre's special meeting of shareholders held on April 28, 2026 excluding, for the purposes of MI 61-101, votes attached to Shares held by First Majestic or any other persons described in items (a) through (d) of Section 8.1(2) MI 61-101. For further details, please refer to the management information circular dated March 24, 2026 available on Sierra Madre's website at www.sierramadregoldandsilver.com and on Sierra Madre's profile on SEDAR+ at www.sedarplus.ca. Concurrent FinancingConcurrent with the Acquisition, Sierra Madre completed a brokered private placement offering of subscription receipts of Sierra Madre (the "Subscription Receipts") at a price of $1.30 per Subscription Receipt (the "Concurrent Financing") pursuant to an agency agreement dated January 14, 2026 (the "Agency Agreement") among Sierra Madre, Beacon Securities Limited ("Beacon"), as lead agent and sole bookrunner, and a syndicate of agents including Canaccord Genuity Corp., BMO Capital Markets and VSA Capital Limited (together with Beacon, the "Agents").In connection with the Concurrent Financing, Sierra Madre issued an aggregate of 44,231,300 Subscription Receipts for aggregate gross proceeds of $57,500,690, including the full exercise of the Agents' option, in two tranches: (i) on January 14, 2026, Sierra Madre closed the first tranche and issued 30,521,724 Subscription Receipts for aggregate gross proceeds of $39,678,241; and (ii) on January 30, 2026, Sierra Madre closed the second and final tranche and issued 13,709,576 Subscription Receipts for aggregate gross proceeds of $17,822,449.Each Subscription Receipt was deemed to be exercised, without payment of any additional consideration, for one Common Share immediately prior to closing of the Acquisition. Sierra Madre used the net proceeds of the Concurrent Financing to fund the completion of the Acquisition and intends to use the remainder of the net proceeds for exploration and development of Del Toro and for general working capital purposes.Early Warning Disclosure Pursuant to the terms of the Share Purchase Agreement, upon closing of the Acquisition, First Majestic acquired 10,870,000 Common Shares at a deemed price of $1.30 per Common Share.Immediately prior to closing of the Acquisition, First Majestic beneficially owned or controlled 51,563,076 Common Shares of Sierra Madre, representing approximately 26.18% of the issued and outstanding Common Shares on a non-diluted basis.As a result of the Acquisition, First Majestic now beneficially owns or controls a total of 62,433,076 Common Shares representing approximately 24.77% of the issued and outstanding Common Shares as of the date of this news release on a non-diluted basis. The Common Shares acquired by First Majestic are for investment purposes. First Majestic has no current intention to enter into any of the transactions listed in clauses (a) to (k) of item 5 of Form 62-103F1 of National Instrument 62-103 The Early Warning System and Related Take-over Bid and Insider Reporting Issues ("NI 62-103"), but in the future First Majestic may acquire or dispose of securities of Sierra Madre depending on market conditions, reformulation of plans and/or other relevant factors, in each case in accordance with applicable securities laws.This news release and First Majestic's corresponding early warning report (the "Early Warning Report"), which is expected to be filed on SEDAR+ in the near term, constitutes the required disclosure pursuant to section 5.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids ("NI 62-104").The Early Warning Report that will be filed on SEDAR+ will satisfy the requirement of section 5.2 of NI 62-104 to have the Early Warning Report filed by an acquiror, in this case by First Majestic, with the securities regulatory authorities in each of the jurisdictions in which Sierra Madre is a reporting issuer and which contains the information required by section 3.1 of NI 62-103, which includes the information required by Form 62-103F1.A copy of the Early Warning Report filed by First Majestic in connection with the Acquisition will be available under First Majestic's profile on SEDAR+ website at www.sedarplus.ca.About Sierra MadreSierra Madre Gold and Silver Ltd. is a precious metals development and exploration company focused on the Guitarra mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500 tpd processing facility that operated until mid-2018 and restarted commercial production in January 2025. The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.Sierra Madre's management team has played key roles in managing the exploration and development of silver and gold mineral reserves and mineral resources. Sierra Madre's team of professionals has collectively raised over $1 billion for mining companies.On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,"Alexander Langer"Alexander Langer
President, Chief Executive Officer and Director of Sierra Madre Gold and Silver Ltd.
778-820-1189Sierra Madre Contact:investor@sierramadregoldandsilver.comAbout First MajesticFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. First Majestic presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (First Majestic holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine located in northeastern Nevada, U.S.A. which the Company is currently in the process of re-starting.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.On behalf of the board of directors of First Majestic Silver Corp.,"Keith Neumeyer"Keith Neumeyer
Chief Executive Officer of First Majestic Silver Corp.First Majestic Contact:info@firstmajestic.com Cautionary NoteNeither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Parties do not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, the intended use of proceeds from the Concurrent Financing, Sierra Madre's exploration and development plans for Del Toro, Sierra Madre's general business and growth strategy and the amount of cash and number of shares received as consideration by First Majestic per the milestone payments contemplated under the Share Purchase Agreement.In making the forward-looking statements included in this news release, the Parties have applied several material assumptions, including that Sierra Madre will have sufficient capital to fund its planned exploration and development activities at Del Toro and that there will be no material adverse changes to applicable laws, regulations or market conditions. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Parties to control or predict, that may cause Sierra Madre's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, changes in commodity prices and general economic, market and business conditions.Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302272 Original: Sierra Madre and First Majestic Announce Closing of Acquisition of the Del Toro Silver Mine for up to US$60M

Yes cool story / Cool interview

Keith Neumeyer, CEO of First Majestic Silver Corp. | Rule Symposium 2026: Rick Rule interviews



Daily Chart
https://schrts.co/wTaXUKHH

https://www.youtube.com/shorts/ojANbMJhG7w

Reached bottom~?
Bought more physical silver
$AG is a very good buy at this price IMO.

Not financial advice. Please do your own DD.

First Majestic Announces Voting Results from 2026 Annual General MeetingJune 10, 2026 8:00 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - June 10, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the voting results for its Annual General Meeting of shareholders that was held on Wednesday, June 10, 2026 in Vancouver, British Columbia (the "2026 AGM"). Each of the matters that were voted upon at the 2026 AGM are described in detail in the Company's Management Information Circular dated April 29, 2026 (the "Circular"), which is available on the Company's website at www.firstmajestic.com/investors/agm-materials/ and under the Company's profile on SEDAR+ at www.sedarplus.ca.A total of 290,164,319 common shares ("Shares") of First Majestic were represented at the 2026 AGM, representing 58.77% of the Company's issued and outstanding Shares as at April 15, 2026, the record date for the 2026 AGM. Shareholders voted in favour of all matters brought before the 2026 AGM. The specific voting results were as follows:NUMBER OF DIRECTORSResolutionVotes For% ForVotes Against% AgainstSet the number of directors of the Company at six288,501,01699.45%1,605,0610.55% ELECTION OF DIRECTORSDirector NomineeVotes For% ForVotes Withheld% WithheldKeith Neumeyer205,934,81790.43%21,805,1129.57%Marjorie Co226,698,21399.54%1,041,7170.46%Thomas F. Fudge, Jr.159,116,11969.87%68,623,81130.13%Raymond L. Polman226,941,89699.65%798,0340.35%Colette Rustad225,119,90298.85%2,620,0271.15%Ayesha Hira226,854,67799.61%885,2540.39% APPOINTMENT OF AUDITORResolutionVotes For% ForVotes Withheld% WithheldAppoint Deloitte LLP, Independent Registered Public Accounting Firm, as auditor for the Company to hold office until the next Annual General Meeting and authorize the directors to set the remuneration to be paid to the auditor 252,426,45187.01%37,679,62712.99% SAY-ON-PAY (non-binding advisory vote)ResolutionVotes For% ForVotes Against% AgainstAdvisory resolution to approve the Company's approach to executive compensation149,484,64765.64%78,255,27934.36% APPROVAL OF UNALLOCATED ENTITLEMENTS AWARDED UNDER LTIPResolutionVotes For% ForVotes Withheld% WithheldApprove the unallocated entitlements under the Company's long-term incentive plan (the "LTIP") and ratify grants of Awards (as defined in the LTIP) that have been made since May 26, 2025 221,671,08797.34%6,068,8402.66% ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine located in northeastern Nevada, U.S.A., which the Company is currently in the process of re-starting.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEOCautionary Note Regarding Forward Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and United States securities laws (collectively, "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are discussed in the section entitled "Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2025 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.Although the Company has attempted to identify important factors that could cause actual results 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301028 Original: First Majestic Announces Voting Results from 2026 Annual General Meeting

Silver Above $75 An Ounce And A Cobalt Camp Consolidator Just Engaged The Original Authors Of Its NI 43-101 To Build A New Resource EstimateMay 27, 2026 9:20 AM
PR Newswire (US) Issued on behalf of Nord Precious Metals Mining Inc.With the historic Kilborn 1987 feasibility study back on the table, 2,343 g/t silver intercepts on the drill bit, and four kilometres of historic boundary now consolidated, one Ontario junior is sequencing exploration, processing, and resource update work into a single integrated narrative.COBALT, ON, May 27, 2026 /PRNewswire/ -- Fly On Wall Street News Commentary — Silver has spent the better part of 2026 trading above the $75 per ounce level, with the metal's all-time high of US$121.67/oz set on January 29, 2026 still anchoring the year's price band. Structural supply deficits — now in their sixth consecutive year, with the 2026 deficit forecast at 46.3 million ounces by the Silver Institute — continue to pull capital toward emerging-stage silver developers.Inside that landscape, Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) (FSE: QN3), Hecla Mining Company (NYSE: HL), First Majestic Silver Corp. (NYSE: AG), Coeur Mining, Inc. (NYSE: CDE), and Endeavour Silver Corp. (NYSE: EXK) collectively span the spectrum from emerging-stage Cobalt Camp consolidator to established mid-tier producer — with the smaller end of that spectrum disproportionately positioned for re-rating as resource updates land and processing pathways crystallize.Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) (FSE: QN3) on May 19, 2026 announced the engagement of GeoVector Management Inc. of Ottawa to complete an updated Mineral Resource Estimate (MRE) and supporting NI 43-101 Technical Report for the Gowganda Silver Tailings, concurrent with confirmatory metallurgical testwork now underway on tailings samples. GeoVector was the author of the 2011 NI 43-101 resource estimate, retained with two of three original Qualified Person authors and all original modelling data. The cumulative drill database exceeds 860 holes across the consolidated Castle-Gowganda land package — a foundation that few junior consolidators in the Camp can match.The engagement follows the Company's strategic acquisition of adjacent leases closed March 31, 2026, which consolidated nearly 4 kilometres of historic property boundary into a single land package — approximately half of which runs through areas of documented past production. Together, the consolidated 63 km² Castle property and the additional 225 hectares of acquired leases now host 3 of the 5 most productive past-producing silver mines in the Gowganda Camp: the Miller Lake-O'Brien (Siscoe), the Castle, and the Millerett operations. The Miller Lake-O'Brien Mine alone produced approximately 42 million ounces of silver between 1910 and 1972 — historically the largest past-producing Cobalt-style silver mine outside of the Cobalt Mining Camp itself.On May 11, 2026, Nord disclosed its review of a publicly available April 1987 Kilborn Limited feasibility study for the re-milling of silver tailings deposits on what is now the Company's Castle-Gowganda property. The historic Kilborn modelled returns at six to twelve dollars per ounce silver — the price band in which the deposit's previous operators all held sound technical positions in unsound price environments. Frank J. Basa, P.Eng., President and CEO of Nord, framed the Kilborn report in the Company's release as serious engineering by a firm whose work is still referenced across Canada's major mining camps, and as material that confirms the technical viability of large-scale processing.Drilling has also continued to deliver. On May 4, 2026, Nord reported analytical results from hole CS-26-129W2 at Castle East, including a 2,343 g/t silver (68 oz/ton) intercept over 1.85 metres — the previously disclosed high-grade silver intercept for which core photographs had been published February 24, 2026. The Company also commenced its fully funded 5,000-metre drilling phase, continuing the ongoing 30,000-metre drill program at the recently enlarged Castle–Gowganda Property. The Castle East discovery hosts a historical Inferred Mineral Resource of 7.56 million ounces of silver grading 8,582 g/t Ag (250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately 400 metres.Nord operates TTL Laboratories in Cobalt, Ontario — the only permitted high-grade milling facility in the Cobalt Camp, which has already produced refined silver doré including a 1,000-ounce silver bar from Cobalt Camp material. The Company has also acquired a 600 tonne-per-day modular gravity plant which awaits commissioning upon receipt of the Recovery Permit, for which the Ontario Ministry of Mines has provided an advanced template and an 80-day fast-track processing pathway. The integrated processing strategy — connecting high-grade silver discovery, district consolidation, historical feasibility validation, and a permitted milling pathway — places Nord in a structural position few junior silver consolidators occupy. For more company information, visit This Link.
 In other industry developments and happenings in the market include: Hecla Mining Company (NYSE: HL) — the largest silver producer in the United States — has continued to leverage record silver prices through 2026, with operations spanning Greens Creek, Lucky Friday, and Keno Hill. On May 5, 2026, Hecla reported record Q1 2026 results with revenue over $411 million and consolidated silver production of 3.9 million ounces — alongside the March 25, 2026 sale of its Casa Berardi gold mine to Orezone, which sharpened the Company's focus on its silver-growth platform and helped eliminate Hecla's long-term debt. With multiple operating mines, deep reserves, and a track record of disciplined capital allocation, Hecla remains one of the most institutionally tracked names in the U.S.-listed silver complex.Hecla's exposure to long-life North American silver assets reinforces the structural premium that U.S./Canadian-jurisdiction silver carries inside the current procurement environment. Recent capital allocation has focused on continued reserve replacement and ongoing exploration at Lucky Friday and Keno Hill — both contributing to the Company's long-duration silver production profile.First Majestic Silver Corp. (NYSE: AG) (TSX: AG) continued to operate its four producing silver mines in Mexico through 2026 — San Dimas, Santa Elena, La Encantada, and Los Gatos (acquired in 2025 via the Gatos Silver transaction, in which First Majestic holds a 70% joint-venture interest). In Q1 2026, Los Gatos was First Majestic's largest silver producer at 1.49 million attributable ounces. The Company's Jerritt Canyon gold operation in Nevada has been on temporary suspension since March 20, 2023; on April 2, 2026, First Majestic announced a restart plan targeting production in H2 2027, with approximately 42,000 metres of drilling planned at Jerritt Canyon in 2026. The Company has remained one of the most highly silver-leveraged operators in the public market.First Majestic's combination of silver production scale, jurisdictional diversity, and operational leverage to spot silver prices has reinforced its position as one of the highest-beta names in the silver complex. Inside the current silver price environment, AG's revenue and cash-flow uplift has been visible across consecutive quarterly cycles, reflecting the structural translation of silver pricing into operational margin.Coeur Mining, Inc. (NYSE: CDE) has continued to advance its Rochester, Palmarejo, Kensington, and Wharf operations through 2026, alongside the high-grade Las Chispas operation in Mexico (added via the SilverCrest acquisition that closed in February 2025). On March 20, 2026, Coeur closed its acquisition of New Gold Inc., adding the Rainy River and New Afton mines in Canada — creating an all-North American senior precious metals producer with seven operations. Q1 2026 results reported May 6 included record revenue of $856 million.Coeur's operational platform — now spanning seven North American operations following the March 2026 New Gold acquisition — positions CDE as one of the more strategically diversified mid-tier producers in the silver and gold complex. The combination of Las Chispas integration, Rainy River and New Afton additions, and ongoing optimization at Rochester continues to frame Coeur's investment case heading into the back half of 2026.Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) operates a transformed three-mine portfolio in 2026: Guanaceví in Mexico, Terronera in Mexico (which achieved commercial production on October 1, 2025 and is the Company's flagship growth asset), and Kolpa in Peru (acquired in 2025). The Company completed the sale of its Bolañitos silver and gold mine on January 15, 2026, sharpening its focus on the higher-grade Terronera and Kolpa platforms. 2026 consolidated guidance calls for 8.3–8.9 million ounces of silver and 14.6–15.6 million silver-equivalent ounces.Endeavour's pipeline — anchored by producing Terronera, Guanaceví, and Kolpa, with the large-scale Pitarrilla silver project advancing toward a feasibility study targeted for Q3 2026 and a potential construction decision in early 2027 — positions EXK at the senior-silver-producer transition stage. As Terronera continues its ramp-up and Kolpa integration matures, EXK's production profile is expected to expand materially.Across the comparable set, the message is consistent: silver above $75 an ounce is funding capital deployment, operational scaling, and resource update work across the public silver complex — and the upstream consolidation layer is where the asymmetry of the trade lives. Nord Precious Metals' May 19 GeoVector engagement, May 11 Kilborn feasibility validation, May 4 high-grade Castle East drill results, and 4 km of historic boundary consolidation collectively form one of the most credible execution sequences a Cobalt Camp consolidator has presented to public markets in this cycle. For investors building exposure to the silver development trade, NTH deserves a closer look.CONTINUED… Read this and more news for Nord Precious Metals Mining Inc. at: https://usanewsgroup.com/nth-profile/CONTACT:
Fly On Wall Street
info @therooster-2873 Article Sources:https://www.newsfilecorp.com/release/297843/Nord-Precious-Metals-Secures-Original-Technical-Team-to-Update-and-Refresh-NI-43101-Resource-Estimate-for-Gowganda-Silver-Tailingshttps://www.newsfilecorp.com/release/296828/Nord-Reviews-Historic-Feasibility-Study-325000-Ounces-of-Silver-Per-Year-Production-Over-Seven-Years-at-Gowgandahttps://www.newsfilecorp.com/release/295685/Nord-Precious-Metals-Reports-2343-gt-68-ozton-HighGrade-Silver-over-1.85-Metres-at-Castle-East-Begins-Fully-Funded-5000Metre-Drilling-Phasehttps://www.firstmajestic.com/newshttps://www.coeur.com/investors/news/https://www.edrsilver.com/newsDISCLAIMER:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Flyonwallstreet.com is a wholly-owned subsidiary of Market IQ Media Group ("MIQ"). This article is being distributed for Baystreet.ca media Corp, who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for Nord Precious Metals Mining. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. ("BAY") There may also be 3rd parties who may have shares of Salazar Resources Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY does not own any shares of Nord Precious Metals Mining but reserves the right to buy and sell, and will buy and sell shares of Nord Precious Metals Mining at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Nord Precious Metals Mining. In summary, this is a paid advertisement, we currently do not own any shares of Nord Precious Metals Mining but will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.  View original content:https://www.prnewswire.com/news-releases/silver-above-75-an-ounce-and-a-cobalt-camp-consolidator-just-engaged-the-original-authors-of-its-ni-43-101-to-build-a-new-resource-estimate-302783035.htmlSOURCE Fly On Wall Street Original: Silver Above $75 An Ounce And A Cobalt Camp Consolidator Just Engaged The Original Authors Of Its NI 43-101 To Build A New Resource Estimate

Cassiar District Polymetallic System Funded For 2026 Drilling Inside Tightening Silver MarketMay 21, 2026 11:30 AM
PR Newswire (Canada) Issued on behalf of GoldHaven Resources Corp.Approximately C$3.2 million in flow-through plus a C$5.0 million LIFE Offering, a 1,741 line-km airborne magnetic survey scheduled for June, a permit application in process, and three priority drill zones across 37,204 hectares — all dropping into the silver-Pb-Zn-W-In repricing trade now reshaping the broader silver producer universeVANCOUVER, BC, May 21, 2026 /CNW/ -- Equity Insider News Commentary — Silver prices have stayed bid through the first half of 2026 inside a structural setup that has rewarded both the established silver producer cohort and the development-stage explorers carrying differentiated geological signatures. The investment thesis is not subtle: the silver industry's supply response to multi-year price strength has been visibly constrained, and the development-stage projects with high-grade ore, multi-mineralization-style optionality, and tight catalyst calendars have been the cleanest beneficiaries of the institutional re-rating. Inside that environment, GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) is positioning a district-scale British Columbia polymetallic system — the Magno Project — directly into the broader silver-Pb-Zn-W-In repricing trade. Magno spans approximately 37,204 hectares in the Cassiar District of northwestern British Columbia and hosts a large intrusion-related hydrothermal system including copper-gold, silver-lead-zinc, tungsten-skarn, and critical-mineral mineralization.[1] Property-wide geological mapping, sampling, and geochemical analysis define a classic porphyry-related metal zonation pattern, supporting interpretation of a large mineralizing system with stacked deposit environments and strong structural controls.[1]Equity Insider financial group has a in-depth report on Goldhaven which can be viewed here: Equity Insider report on GoldHaven Resources Corp.The 37,204-Hectare Land Position, And The Three Priority Drill ZonesOn February 27, 2026, GoldHaven closed a Title Transfer Agreement to acquire a 100% interest in five contiguous mineral claims totalling 231.362 hectares in the Cassiar District, bringing the consolidated Magno land position to 37,204 hectares.[1] President & CEO Rob Birmingham framed the strategic logic: "Expanding Magno beyond 37,000 hectares further strengthens our control over what we interpret to be a large, zoned, intrusion-related polymetallic system. The confirmation of high-grade silver-lead-zinc mineralization, extensive tungsten-skarn development, elevated copper within intrusive rocks, and strong bismuth-tellurium pathfinder anomalies supports this interpretation."[1]On April 1, 2026, GoldHaven submitted its permit application to the British Columbia Ministry of Mines for the 2026 drill program at Magno, with drill targeting underway for three priority zones: the Magno Zone, the Kuhn Zone, and the D Zone.[2] Recent and historical results from across the property include up to 2,370 g/t Ag, >20% Pb, 19.25% Zn, 6,550 ppm W and 334 ppm In — a grade range that places Magno among the higher-grade undeveloped polymetallic systems in the broader Cassiar District.[2] In parallel, GoldHaven is constructing a comprehensive 3D geological model integrating historical drilling, surface sampling, and geophysical datasets across the property, with the work expected to significantly enhance drill targeting and define additional priority zones.[2]The Dias Airborne Survey: A First Modern Property-Wide Geophysical DatasetOn April 15, 2026, GoldHaven announced it had engaged Dias Airborne Limited to complete a 1,741 line-kilometre high-resolution airborne magnetic survey across the 100%-owned Magno Project.[3] The survey is expected to commence in June 2026, with an anticipated 14-day duration, and will be flown at 100 metre line spacing over the Company's priority target corridors, highlighting the Magno Zone, Kuhn Zone, and D Zone.[3] This marks the first modern geophysical survey completed over the consolidated Magno land package.[3]Equity Insider financial group has a in-depth report on Goldhaven which can be viewed here: Equity Insider report on GoldHaven Resources Corp.GoldHaven selected Dias based on the strong geological analogy between Magno's near-surface CRD (carbonate replacement deposit) and adjacent porphyry-style mineralization and the geophysical success achieved at Hercules Metals Corp.'s Leviathan discovery in Idaho.[3] The airborne survey is designed to strengthen GoldHaven's understanding of the Project's structural architecture, intrusive contacts, and alteration corridors across multiple prospective mineralized systems.The resulting high-resolution dataset will be integrated into the Company's evolving 3D geological model, which combines newly generated data with extensive historical exploration records to refine and prioritize 2026 drill targets.[3] The Company is also evaluating a potential follow-on ground-based 3D induced polarization (IP) survey to further enhance subsurface targeting in advance of drill mobilization.[3] The technical and scientific information in the April 15 release was reviewed and approved by Raymond Wladichuk P.Geo., a non-independent Qualified Person under NI 43-101 and a consultant of the Company.[3]The Funding Stack: Approximately C$4.0 Million Into 2026 DrillingGoldHaven's 2026 financing architecture has been built around the drill program. On May 7, 2026, the Company announced that it had increased the size of its previously announced flow-through non-brokered financing to gross proceeds of up to C$1,200,000, citing strong investor demand.[4] Combined with flow-through financing completed earlier in 2026, total flow-through proceeds raised by the Company in 2026 reach approximately C$3.2 million.[4] The additional capital further strengthens the Company's fully funded 2026 exploration program at Magno and is expected to support an expanded drill campaign targeting a large-scale, multi-phase mineral system with significant silver and critical metals exposure.[4]On April 30, 2026, GoldHaven announced a separate C$5.0 million LIFE Offering at C$0.25 per Unit, with each Unit consisting of one common share and one half of one common share purchase warrant, with each Warrant entitling the holder to purchase a Common Share at C$0.35 from the 62nd day after issuance until 24 months following closing.[5] Combined with the recently completed flow-through financing, the LIFE Offering is expected to fully fund and expand the Company's 2026 drill program at Magno.[5]The Offering is conducted under the Listed Issuer Financing Exemption under National Instrument 45-106. The net proceeds are intended for advancement of the Magno Project (permitting, geophysics, drill targeting, continued and expanded diamond drilling), continued and follow-up drilling at the Copeçal Gold Project in Mato Grosso, Brazil, and general working capital.[5]The drilling program is expected to grow beyond the initial approximately 5,000 metres, with flexibility to expand based on results.[4] The Company has directed approximately C$4.0 million of 2026 capital toward the Magno Project, with continued diamond drilling, follow-up drilling, and target advancement also planned for Copeçal.[5] Birmingham framed the financing context: "At Magno, we are now fully funded to execute and expand a significant 2026 drill program across multiple high-priority zones, while continuing to build on the strong initial drilling success at Copeçal. We believe this dual-track approach provides shareholders with near-term discovery potential and longer-term growth across two highly prospective districts."[5]The Multi-Project Footprint And The Brazilian Critical-Mineral OptionalityBeyond the Magno flagship, GoldHaven owns the Three Guardsmen copper-gold project in British Columbia, exhibiting significant potential for copper and gold-skarn mineralization.[1] The Company also owns the Copeçal Gold Project in Mato Grosso, Brazil — a drill-ready gold project with a 6-kilometre strike of anomalous gold in soil samples.[1] In addition, the Company holds a portfolio of critical mineral projects in Brazil: Bahia South, Bahia North, and Iguatu — extensive tenement packages totalling 123,900 hectares.[1] The combined footprint gives GoldHaven exposure across three distinct theses simultaneously: a district-scale BC polymetallic and tungsten-skarn system inside the broader silver and critical-minerals investment trade, a North-South-American gold development pipeline, and a Brazilian critical-mineral package inside the broader Western critical-minerals reshoring environment.How GoldHaven Sits Inside The Silver Producer And Polymetallic UniversePan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) is one of the largest publicly listed primary silver producers in the world, with operations across the Americas spanning silver, gold, and base-metals byproducts. Pan American's portfolio represents the institutional-scale producer comparable for what mature silver-polymetallic operations look like inside the current silver and base-metals macro — and contextualizes the kind of multi-decade resource base a district-scale system like Magno could ultimately host. The comparable framework that Pan American provides matters because its multi-mine portfolio includes silver-base-metals operations geologically analogous to the kind of polymetallic system GoldHaven is now drilling at Magno.MAG Silver Corp. (NYSE-A: MAG) (TSX: MAG) is a publicly listed primary silver developer with a focus on the Juanicipio property in Mexico — a 44%-owned joint venture with Fresnillo plc. MAG Silver's institutional positioning combines silver-development-stage exposure with a high-grade Mexican operating environment, providing one of the cleanest comparables for the kind of public-market valuation a high-grade silver-polymetallic developer-stage asset can attract once geological scale is established. MAG represents the directly comparable category of mid-cap silver-focused name that has been actively repriced inside the broader silver macro across 2025 and 2026.First Majestic Silver Corp. (NYSE: AG) (TSX: AG) is a primary silver producer with operations across Mexico, providing one of the more directly comparable silver-producer profiles inside the public market for a polymetallic system like Magno. First Majestic's multi-mine operating footprint, with exposure across the silver-lead-zinc and silver-gold polymetallic mineralization styles, provides the producer-end comparable framework that contextualizes the kind of multi-asset, multi-mineralization-style operating profile that a fully developed Magno-style district-scale system could ultimately support.Silvercorp Metals Inc. (NYSE: SVM) (TSX: SVM) is a primary silver producer with a focus on high-margin underground silver-lead-zinc operations in China, alongside a recent expansion of its development pipeline through asset transactions in the Americas. Silvercorp represents the institutional comparable for the silver-lead-zinc mineralization style specifically — exactly the geological category of the Magno system — and provides one of the cleanest references for how silver-Pb-Zn polymetallic producers are currently valued inside the broader silver and base-metals market. Silvercorp's exposure across the silver-Pb-Zn category gives the most directly geologically analogous comparable framework for the kind of resource economics a fully developed Magno deposit could ultimately carry.Across all four comparables, the recurring pattern is unmistakable: 2026 has been the year the silver-polymetallic producer and developer universe has been repriced inside a structurally tight silver pricing environment and a growing institutional appetite for high-grade polymetallic exposure. GoldHaven sits at the early-development end of that spectrum with a district-scale BC polymetallic system, a permit application in process, a property-wide airborne magnetic survey lined up, and approximately C$4.0 million in 2026 capital directed toward Magno drilling — offering small-cap exposure to a multi-zone, multi-mineralization-style polymetallic system at a market capitalization that does not yet reflect the breadth of the consolidated land package.The Window AheadGoldHaven's near-term catalyst window is dense. The 2026 drill program permit application is in process with the British Columbia Ministry of Mines.[2] The Dias Airborne 1,741 line-km magnetic survey is scheduled to commence June 2026 with a 14-day expected duration.[3] A potential follow-on ground-based 3D IP survey is under evaluation.[3] The 3D geological model integrating historical drilling, surface sampling, and geophysical datasets is being constructed in parallel.[2] The 2026 drill program is expected to expand beyond an initial approximately 5,000 metres at Magno, with approximately C$4.0 million in total capital directed toward Magno across the year.[4][5] Continued diamond drilling at Copeçal in Brazil provides a second catalyst sequence inside the same year.[5]For investors looking at small-cap exposure to a district-scale Western North American polymetallic system with multi-mineralization-style optionality — silver-lead-zinc, tungsten-skarn, copper-gold, critical-minerals — GoldHaven offers a Cassiar-District-located, 37,204-hectare, fully funded 2026 drill program with explicit geological analogy to the Hercules Metals Leviathan discovery model. The next reads on whether the geological model converts into drill-stage validation arrive across the back half of 2026 — starting with the airborne magnetic survey results in June and the initial drill program results across Q3 and Q4.Equity Insider financial group has a in-depth report on Goldhaven which can be viewed here: Equity Insider report on GoldHaven Resources Corp.Contact
Equity Insider
info @therooster-2873 Article Sources[1] https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2776-cse/goh/198386-goldhaven-expands-magno-project-to-over-37-200-hectares-with-strategic-cassiar-claims-acquisition.html[2] https://www.globenewswire.com/news-release/2026/04/01/3266615/0/en/GoldHaven-Advances-2026-Drill-Targeting-at-Magno-Permit-Application-Submitted.html[3] https://www.bnnbloomberg.ca/press-releases/2026/04/15/goldhaven-launches-district-scale-airborne-survey-at-magno-to-support-2026-drilling/[4] https://www.manilatimes.net/2026/05/07/tmt-newswire/globenewswire/goldhaven-upsizes-flow-through-financing-to-up-to-12-million-on-strong-demand-to-expand-2026-drill-program-at-magno/2338424[5] https://goldhavenresources.com/news/goldhaven-announces-c-5.0m-life-offering-to-advance-magno-and-cope%C3%A7al-projectsDISCLAIMER NOTICENothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Logo - https://mma.prnewswire.com/media/2840019/5981573/Equity_Insider_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/cassiar-district-polymetallic-system-funded-for-2026-drilling-inside-tightening-silver-market-302778330.htmlSOURCE Equity Insider Original: Cassiar District Polymetallic System Funded For 2026 Drilling Inside Tightening Silver Market

First Majestic Announces Q1 2026 Financial Results and Increased Quarterly Dividend Payment; Provides Management UpdatesMay 12, 2026 7:00 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the Company's unaudited condensed interim consolidated financial results for the first quarter ended March 31, 2026. The full version of the quarterly financial statements and the accompanying management's discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or under the Company's profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. All amounts are in U.S. dollars unless stated otherwise. First Majestic delivered a strong first quarter, with silver and gold production tracking well towards the Company's 2026 guidance targets. Revenues increased significantly, up 95% year-over-year to $476.7 million, driven by higher realized silver and gold prices, even with the Company holding back $63.6 million of silver and gold bullion. A continued focus on operational efficiency allowed revenues to grow substantially faster than costs, including variable costs such as royalties and worker production bonuses that rise with the silver price, resulting in meaningful margin expansion. Net earnings[1] for the quarter were $128.1 million while earnings per share ("EPS") were $0.26. Adjusted net earnings totaled $151.7 million, or $0.31 per share. Throughput rates increased by 12%, enabling the Company to optimize lower marginal cut-off grades. As a result, overall profitability improved across all mine sites though reported per-ounce costs appeared higher, which was largely attributable to unfavourable year-over-year changes in the silver equivalent ("AgEq") conversion ratios driven by rising metal prices, which have a positive impact on the Company overall. The Company generated $223.5 million in free cash flow in the first quarter, after paying $95.5 million in cash income taxes, primarily related to 2025, leading to a record $1,128.6 million in treasury. FIRST QUARTER HIGHLIGHTSTreasury Position ($190.9 million increase from December 31, 2025): The Company ended the quarter with $1,128.6 million in treasury, representing a 20% increase compared to $937.7 million at the end of 2025, and the highest treasury position in the Company's history. Cash in treasury includes $143.8 million held in restricted cash, compared to $144.3 million as at December 31, 2025. Cash Flow from Operations ($200.6 million increase Y/Y): Operating cash flow before changes in working capital and taxes in the quarter were $310.6 million or $0.63 per share, a 182% increase compared to $110.0 million or $0.24 per share in the first quarter of 2025.Free Cash Flow ($180.0 million increase Y/Y): The Company generated $223.5 million in free cash flow in the first quarter of 2026 after paying $95.5 million in cash income taxes, primarily related to true up payments as a result of the Company's strong financial performance in 2025. This represented a significant increase compared to $43.5 million in free cash flow in Q1 2025.Quarterly Revenue ($232.8 million increase Y/Y): The Company achieved record quarterly revenue of $476.7 million (with 66% of revenue from silver), representing a 95% increase compared to $243.9 million in the first quarter of 2025. Finished Goods Inventory ($18.3 million increase from December 31, 2025): The Company held 676,637 silver ounces and 2,732 gold ounces in finished goods inventory as at March 31, 2026, inclusive of coins and bullion. The fair market value of this inventory as at March 31, 2026 was $50.9 million for silver and $12.8 million for gold, which was not included in revenue during the quarter. Mine Operating Earnings ($202.8 million increase Y/Y): The Company achieved record mine operating earnings of $266.6 million, a significant improvement compared to $63.8 million in the first quarter of 2025.Earnings Before Income Tax, Depreciation and Amortization ("EBITDA") ($208.0 million increase Y/Y): EBITDA for the quarter was $306.8 million, a significant increase compared to $98.8 million in Q1 2025.Net Earnings1 ($125.8 million increase Y/Y): Net earnings for the quarter were $128.1 million (EPS of $0.26) compared to net earnings of $2.3 million (EPS of $0.01) in the first quarter of 2025. Adjusted net earnings were $151.7 million (adjusted EPS of $0.31), compared to adjusted net earnings of $20.9 million (adjusted EPS of $0.05) in the first quarter of 2025.Costs: Cash costs and All-in Sustaining Cost ("AISC") per attributable payable AgEq ounce for the quarter were $20.28 and $29.76, respectively, and are anticipated to decrease in the second half of the year. AISC Margin ($38.98 increase Y/Y): The Company generated AISC margin, being the difference between its silver equivalent realized price and AISC, of $52.24 per AgEq ounce, a significant improvement compared to $13.26 per AgEq ounce during Q1 2025. This margin reflects First Majestic's focus on cost efficiency and effective management of rising variable costs amid the strong metal price environment.First Quarter Dividend (280% increase Y/Y): The Company declared a cash dividend of $0.0171 per common share for the first quarter of 2026, nearly four times higher than in the same period last year.OPERATIONAL AND FINANCIAL RESULTSThe table below represents the Company's consolidated first quarter operational and financial highlights for the three months ended March 31, 2026 and 2025.Key Performance Metrics 
2026-Q1

2025-Q1

Change
Q1 vs Q1
Operational(1) 








Ore Processed / Tonnes Milled 
1,059,333

944,373

12%
Silver Ounces Produced 
3,545,683

3,704,503

(4%)
Gold Ounces Produced 
34,341

36,469

(6%)
Cash Costs per Silver Equivalent Ounce(2) $20.28
$13.68

48%
All-in Sustaining Cost per Silver Equivalent Ounce(2) $29.76
$19.24

55%
Total Production Cost per Tonne(2) $107.22
$97.71

10%
Average Realized Silver Price per Silver Ounce(2) $86.35
$33.10

161%
Average Realized Gold Price per Gold Ounce(2) $5,018
$2,778

81%
Financial (in $millions) 
 

 

 
Revenues $476.7
$243.9

95%
Mine Operating Earnings $266.6
$63.8

318%
Net Earnings (Loss) $147.5
$6.2

2,264%
Operating Cash Flows before Non-Cash Working Capital and Taxes  $310.6
$110.0

182%
Capital Expenditures $49.1
$51.0

(4%)
Cash and Cash Equivalents $984.8
$351.3

180%
Restricted Cash $143.8
$111.3

29%
Working Capital(2) $843.1
$404.8

108%
EBITDA(2) $306.8
$98.8

192%
Adjusted EBITDA(2) $320.8
$109.7

192%
Free Cash Flow(2) $223.5
$43.5

414%
Shareholders 
 

 

 
EPS - Basic & Diluted $0.26
$0.01

2,500%
Adjusted EPS(2)  $0.31
$0.05

572%
 Operational metrics calculated in the table above are reported on an attributable basis to account for the Company's 70% ownership of the Los Gatos Joint Venture that owns the Los Gatos Silver Mine.The Company reports certain non-GAAP measures which include cash costs per AgEq ounce produced, cash costs per Au ounce produced, AISC per AgEq ounce produced, all-in sustaining cost per Au ounce produced, total production cost per tonne, average realized silver price per AgEq ounce sold, average realized Au price per ounce sold, average realized Ag price per ounce sold, working capital, adjusted EPS, EBITDA, adjusted EBITDA, and free cash flow. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate such measures may differ from methods used by other companies with similar descriptions. See "Non-GAAP Financial Measures" at the end of this news release for further details of these measures. The table below represents the quarterly operating and cost performance results at each of the Company's four producing mines during the quarter.First Quarter Production Summary
Los Gatos (1)(3)
San Dimas
Santa Elena
La Encantada
ConsolidatedOre Processed / Tonnes Milled
227,379

235,519

284,236

312,199

1,059,333
Silver Ounces Produced
1,183,089

1,177,686

355,827

829,081

3,545,683
Gold Ounces Produced(3)
656

12,541

21,117

27

34,341
Cash Costs per Silver Equivalent Ounce(2)$20.34
$19.92
$18.27
$25.80
$20.28
All-in Sustaining Cost per Silver Equivalent Ounce(2)$25.04
$28.36
$21.65
$33.40
$29.76
Total Production Cost per Tonne (2)$107.85
$170.00
$101.17
$64.86
$107.22
 All production and non-GAAP results shown in the table above are reported on an attributable basis, meaning they reflect only the portion of results corresponding to the Company's 70% ownership of the Los Gatos Joint Venture that owns the Los Gatos Silver Mine.These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate these measures may differ from methods used by other companies with similar descriptions.Base metal production at the Los Gatos Silver Mine include 15,407,856 lbs zinc, 8,700,148 lbs lead and 262,913 lbs copper (70% attributable basis).In the first quarter, the Company generated a fifth consecutive quarterly revenue record of $476.7 million, representing a 95% increase compared to $243.9 million in the first quarter of 2025. The higher revenues were largely driven by higher average realized silver and gold prices, which represented a 161% and 81% increase, respectively, when compared to the first quarter of 2025 and resulted in total revenues increasing by $286.6 million. Revenue growth was also driven by a 50% and a 3% increase in silver ounces sold at La Encantada and Santa Elena, respectively, compared to the first quarter of 2025, along with 48%, 34%, and 18% increases in zinc, copper, and lead pounds sold, respectively, at Los Gatos compared to the first quarter of 2025. Total revenue for the quarter excluded 676,637 oz of silver and 2,732 oz of gold that were held in inventory at the end of the quarter, with a fair value of $63.6 million.The Company achieved record mine operating earnings of $266.6 million, a significant improvement compared to mine operating earnings of $63.8 million in the first quarter of 2025. This increase was largely driven by higher metal prices compared to the first quarter of 2025. Notably, at La Encantada, a 50% increase in silver ounces sold, combined with lower costs per ounce, contributed to a $31.2 million increase in mine operating earnings, a significant increase compared to a $0.5 million mine operating loss in the first quarter of 2025. EBITDA for the quarter was $306.8 million, representing a significant increase compared to $98.8 million in the first quarter of 2025. The increase in EBITDA was primarily attributable to improved mine operating earnings in the quarter compared to the first quarter of 2025, along with $13.4 million in investment income, a significant increase compared to $0.5 million in investment income during the first quarter of 2025. This increase was partially offset by a $0.7 million foreign exchange loss during the quarter, compared to a $0.5 million loss in the first quarter of 2025, as well as $1.1 million in restructuring costs driven by higher severance costs incurred as the Company continues to optimize its workforce across all sites. Adjusted EBITDA normalized for non-cash or non-recurring items such as unrealized losses on marketable securities, share-based payments, restructuring costs, and abnormal maintenance costs at Los Gatos for the quarter was $320.8 million, representing a 192% increase compared to $109.7 million in the first quarter of 2025.Net earnings for the quarter were $128.1 million (EPS of $0.26) compared to $2.3 million (EPS of $0.01) in the first quarter of 2025. The increase in net earnings was partially offset by a non-cash income tax expense of $93.5 million (EPS of $(0.19)), compared to a non-cash income tax expense of $22.8 million (EPS $(0.05)) in the first quarter of 2025.Adjusted net earnings, excluding non-cash or non-recurring items such as unrealized losses on marketable securities, share-based payments, restructuring costs, abnormal maintenance costs, and deferred income tax were $151.7 million (adjusted EPS of $0.31), compared to adjusted net earnings of $20.9 million (adjusted EPS of $0.05) in the first quarter of 2025.The Company's attributable capital expenditures in the first quarter were $44.7 million ($49.1 million on a 100% basis), representing a 12% decrease compared to $51.0 million in total capital expenditures in the first quarter of 2025. Attributable capital expenditures consisted of $25.4 million in underground development (2025 - $19.9 million), $10.0 million in exploration (2025 - $18.9 million), and $8.3 million in property, plant and equipment ("PP&E") (2025 - $7.3 million). On a 100% basis, these amounts totaled $28.3 million in underground development, $10.8 million in exploration, and $9.1 million in PP&E. Attributable capital expenditures in the first quarter of 2026 represented 20% of the Company's 2026 capital expenditures guidance midpoint.The Company produced 3.5 million silver ounces in Q1 2026 compared to 3.7 million silver ounces produced in Q1 2025, representing 26% of the Company's 2026 silver production guidance midpoint. Gold production was 34,341 ounces in Q1 2026 compared to 36,469 gold ounces produced in Q1 2025, representing 28% of the Company's 2026 gold production guidance midpoint. Cash costs per attributable payable AgEq ounce for the quarter were $20.28, compared to $13.68 per AgEq ounce in the first quarter of 2025. The increase in cash costs per AgEq ounce was primarily due to a decrease in AqEq ounces produced compared to the first quarter of 2025. The reduction in reported AgEq ounces resulted from the outperformance in the price of silver compared to other metals in comparison to Q1 2025, which lowered the AgEq conversion ratio for by-product metals. In Q1 2026, the AgEq conversion ratio was 75:1, compared to 90:1 in Q1 2025. Applying the same assumptions used to calculate AgEq ounces in Q1 2025, reported cash costs per attributable AgEq ounce would have been 11% lower, compared to current costs. In addition, higher metal prices impacted cash costs further through increased labour production bonuses, while higher mining and milling rates increased mining and milling costs. Furthermore, rising metal prices contributed to higher royalty payments. Finally, cash costs were also impacted by the strengthening of the Mexican peso against the U.S. dollar, which on average was 14% stronger during the quarter, relative to the US dollar in the first quarter of 2025. AISC per attributable payable AgEq ounce in the first quarter was $29.76, compared to $19.24 per ounce in the first quarter of 2025. This increase was primarily driven by an increase in cash cost, as previously mentioned. The increase in AISC was also driven by higher worker participation costs due to rising metal prices, along with increased mine development rates yielding higher sustaining development costs. Applying the same assumptions used to calculate AgEq ounces in Q1 2025, AISC per attributable AgEq ounce in Q1 2026 would have been 11% lower.MANAGEMENT UPDATEThe Company announces that Steve Holmes is retiring as the Company's Chief Operating Officer ("COO") after a career in mining that spanned more than 40 years. Since joining First Majestic in 2020, Steve has successfully led First Majestic's operations through a period of major growth and has been a driving force in implementing best practices across the Company. The Company is pleased to announce the appointment of David (Dave) Howe as First Majestic's new COO, effective May 4, 2026. Mr. Howe brings over 35 years of operational leadership in the mining sector throughout Latin America to his new role at First Majestic. He most recently served as Vice-President, Operations at Pan American Silver, overseeing all of Pan American's mines in Mexico, Canada, and Chile. Previously, he held the position of Vice-President & Managing Director, Guatemala for Tahoe Resources, one of the largest pure silver mines in the world, has worked as Vice-President, Operations and Country Manager (Mexico) with Endeavour Silver and operated mines for Hecla Mining Company in Venezuela. Dave holds a Bachelor of Science (Honours) degree from Oxford Brookes University and a Master of Science in Mining Geology from Camborne School of Mines in the UK. Dave will be based in the Company's Vancouver head office.Steve Holmes will provide advisory support to Dave Howe through June 30, 2026 ensuring that there is a seamless transition of the COO role.First Majestic is also pleased to announce the appointment of Alex Thompson as Managing Director, Jerritt Canyon Gold, effective April 20, 2026, to lead the Company's restart of the Jerritt Canyon Gold Mine in Nevada, U.S.A.Mr. Thompson is a seasoned mining executive who has more than 20 years of experience across mining operations, early-stage project development, community engagement, acquisitions and divestments, joint ventures and strategic planning. Alex started his career working in underground base metals operations in North Queensland, Australia (including at Cannington Mine, one of the world's largest silver producing mines) and has since held several roles globally, having lived or worked on five continents. Most recently, Alex was part of BHP's Business Development team in the US and was COO at a mining-focused private equity firm in the UK. He holds a Bachelor of Engineering (Mining) degree from the University of New South Wales."I would like to extend my sincere gratitude to Steve for his dedicated service and meaningful contributions since joining First Majestic in 2020." said Keith Neumeyer, CEO. "His leadership and mentorship have played an important role in shaping the Company's growth and helping position us to where we are today. We wish Steve a well-deserved retirement." "I would also like to welcome Dave Howe and Alex Thompson to the team. Dave brings extensive experience in leading multi-asset mining portfolios in Mexico and internationally, and I look forward to working alongside him as we guide First Majestic through its next phase of evolution. Alex is a seasoned mining executive with a strong track record of building and operating mines and brings tremendous energy and expertise that will be invaluable as we advance toward a safe, efficient and exciting restart of Jerritt Canyon."Q1 2026 DIVIDEND ANNOUNCEMENTThe Company is pleased to announce that its Board of Directors has declared a cash dividend in the amount of $0.0171 per common share for the first quarter of 2026. The dividend will be paid on or about May 29, 2026, to holders of record of First Majestic's common shares as of the close of business on May 20, 2026.Under the Company's new dividend policy, the quarterly dividend per common share is targeted to equal approximately 2% of the Company's net quarterly revenues from January 1, 2026 onwards divided by the Company's then outstanding common shares. Note: In the case of net revenues generated from the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), 70% of the net revenue from such mine, being the revenue that is attributable to the Company, is used for the purposes of the Company's quarterly dividend calculation.The amount and distribution dates of future dividends remain at the discretion of the Board of Directors. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes. Dividends paid to shareholders outside Canada (non-resident investors) may be subject to Canadian non-resident withholding taxes. CONFERENCE CALL DETAILS The Company will host a conference call and webcast on Tuesday, May 12, 2026, at 8:30 a.m. (PT) / 11:30 a.m. (ET) to provide investors and analysts with a business update, and to discuss the Company's first quarter production and financial results.To participate in the conference call, please use the following dial-in numbers:Canada & USA Toll-Free:+1-833-752-3407Outside of Canada & USA:+1-647-846-2866Toll-Free UK:+44-20-3514-3188 Participants should dial-in at least 15 minutes prior to the start of the call to ensure placement in the conference on time.A live webcast link of the call will be accessible through the link, "May 12, 2026 Webcast Link" on the First Majestic home page at www.firstmajestic.com. A webcast archive will be available approximately one hour after the end of the event and will be accessible for three months through the same link as the live event.A recording of the conference call will be available for telephone replay approximately one hour after the end of the event by calling:USA & Canada Toll-Free:+1-855-669-9658Outside of Canada & US:+1-412-317-0088Access Code:3457502 The telephone replay will be available for seven days following the end of the event.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine, which the Company is currently in the process of re-starting.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807. FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEO Non-GAAP Financial MeasuresThis news release includes reference to certain financial measures which are not standardized measures under the Company's financial reporting framework. These measures include cash costs per silver equivalent ounce produced, all-in sustaining cost (or "AISC") per silver equivalent ounce produced, cash costs per gold ounce produced, AISC per gold ounce produced, total production cost per tonne, average realized silver price per ounce sold, average realized gold price per ounce sold, working capital, adjusted net earnings and EPS, EBITDA, adjusted EBITDA, and free cash flow. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. These measures are widely used in the mining industry as a benchmark for performance but do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures disclosed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For a complete description of how the Company calculates such measures and a reconciliation of certain measures to GAAP terms please see "Non-GAAP Measures" in the Company's most recent management discussion and analysis filed on SEDAR+ at www.sedarplus.ca and EDGAR at http://www.sec.gov/.Cautionary Note Regarding Forward Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates 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 in this news release include, but are not limited to, statements with respect to: the timing for the Company's Q1 2026 dividend payment and the shareholder record and payable dates in connection with such dividend payment; and anticipated future results. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-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 mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates 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 the 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 events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "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 forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19, and any other pandemics on our operations and workforce, and the effects on global economies and society; general economic conditions including inflation risks; 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 with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion 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 coverage as well as those factors discussed in the section entitled "Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2025 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission on EDGAR at http://www.sec.gov/edgar. Although First Majestic has attempted to identify important factors that could cause actual results 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.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.1 References to "Net Earnings", "Earnings per share", and "EPS" refer to "Net Earnings attributable to Owners of the Company", and "Earnings per common share attributable to owners of the Company", which are net of non-controlling interests, specifically the remaining 30% of the Los Gatos JV not owned by the Company.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297070 Original: First Majestic Announces Q1 2026 Financial Results and Increased Quarterly Dividend Payment; Provides Management Updates

First Majestic Announces 2025 Sustainability Report and Mailing of 2026 AGM Meeting MaterialsApril 29, 2026 4:15 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the release of its 2025 Sustainability Report and the mailing of its meeting materials for the Company's 2026 Annual General Meeting of Shareholders (the "2026 AGM").2025 SUSTAINABILITY REPORTThe Company's 2025 Sustainability Report has been drafted primarily in alignment with the Sustainability Accounting Standards Board ("SASB") reporting standards, and summarizes the Company's sustainability-related performance for the 2025 calendar year.Carbon Reduction: Reporting our lowest carbon intensity on record, achieving a 21% annual reduction in carbon footprint per tonne of ore processed, and an overall reduction in carbon intensity of 49% since our first report in 2019.Community Involvement: Partnered with our local communities on impactful projects, investing US$2.4 million in our communities in 2025. In addition, we completed a third-party community social impact assessment at all operating sites to proactively monitor community needs and expectations.Supportive Workplaces: Continued our workplace programs to support retention and employee wellbeing. As a result of these ongoing actions, 70% of our employees have a tenure over 6 years and in 2025 91% of working mothers returned to their roles after maternity leave.Stable safety performance: Maintained the Company's world-class safety performance, achieving 0.55 Total Recordable Incident Frequency Rate ("TRIFR") and 0.12 Lost Time Incident Frequency Rate ("LTIFR").Third-Party Recognition: We continued our trend of improvement within sustainability ratings and rankings, by the end of 2025 placing in the top 10% of the mining industry as ranked by ISS ESG, top 25% by S&P Global, top 34% by Sustainalytics, and top 15% by the London Stock Exchange Group.The 2025 Sustainability Report provides shareholders and stakeholders of First Majestic an annual progress report against its public sustainability commitments. The Company is pleased to share that in 2025 First Majestic met all its sustainability targets and commitments, successfully integrated Los Gatos into its portfolio, and is reporting its lowest carbon intensity on record."Our 2025 Sustainability Report's theme of Growing in Harmony reflects what matters most at First Majestic: operating with integrity, protecting our people and the environment, and creating long-term value," said Keith Neumeyer, CEO. "In a year marked by record production, financial performance and the successful integration of Los Gatos , we demonstrated that strong performance and responsible mining go hand in hand; guided by the values that have long defined our Company.""The acquisition of Los Gatos in 2025 was a defining moment for First Majestic, and Growing in Harmony captures how closely aligned our teams, values, and sustainability strategies truly are," said Mani Alkhafaji, President & Chief Corporate Development Officer. "This integration strengthened our portfolio while reinforcing our commitment to safe, environmentally responsible mining and meaningful partnerships with our communities."For further performance data and information about how First Majestic manages sustainability-related areas of its business, the 2025 Sustainability Report and accompanying documents are available on the Sustainability Report Hub of the Company's website at www.firstmajestic.com/sustainability/report-hub/.2026 AGM INFORMATIONThe Company's 2026 AGM will be held on Wednesday, June 10, 2026, at 10:00 a.m. (Pacific Time) at the offices of Bennett Jones LLP, located at Suite 2500 – 666 Burrard Street, Vancouver, British Columbia V6C 2X8.As in prior years, the Company has adopted the notice and access model ("Notice and Access") under National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer for the delivery to shareholders of record as of April 15, 2026 (the "Record Date") of the Notice of Meeting, Management Information Circular, Form of Proxy or Voting Instruction Form (as applicable) and our audited financial statements and management's discussion and analysis for the year ended December 31, 2025 (collectively, the "Meeting Materials") in connection with the 2026 AGM.Under Notice and Access, instead of receiving printed copies of the Meeting Materials, shareholders receive a Notice and Access notification containing details relating to the 2026 AGM such as the date, location and purpose, as well as information on how they can access the Meeting Materials electronically. Using the Notice and Access method allows the Company to deliver the Meeting Materials to our shareholders in a more environmentally friendly and sustainable way that helps reduce paper usage and our carbon footprint, and it reduces the printing and mailing costs. However, shareholders with existing instructions on their account to receive printed materials will receive a printed copy of the Meeting Materials, and any other shareholders who wish to receive a printed copy of the Meeting Materials may follow the instructions set out in the Notice and Access notification that they will receive.The Company has retained the Laurel Hill Advisory Group ("Laurel Hill") to assist anyone who is a First Majestic shareholder as of the Record Date with voting their shares. Once you have received the Meeting Materials in the mail, if you need assistance with voting your First Majestic shares, please reach out to Laurel Hill by telephone at 1-877-452-7184 (toll-free in North America) or 1-416-304-0211 (text and call enabled outside North America, please text "INFO" to either number), or by email at assistance@laurelhill.com.The Meeting Materials for the 2026 AGM are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at https://www.firstmajestic.com/investors/agm-materials/. Please review the Meeting Materials for instructions relating to voting your First Majestic shares. The Company looks forward to the support of its shareholders at the 2026 AGM, and notes that management recommends that shareholders vote "FOR" all resolutions that are set out in the Meeting Materials.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine, which is an advanced-stage development asset that was placed on temporary suspension in March 2023.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at http://www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."Signed" Keith Neumeyer, CEOCautionary Note Regarding Forward-Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and United States securities laws (collectively, "forward-looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are discussed in the section entitled "Description of the Business – Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2025 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.Although the Company has attempted to identify important factors that could cause actual results 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. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295017
Original: First Majestic Announces 2025 Sustainability Report and Mailing of 2026 AGM Meeting Materials

Silver Deficit Hits Sixth Straight Year as One Cobalt Camp Consolidator Prepares to Drill the Boundaries Past Producers Could Never CrossApril 20, 2026 11:30 AM
PR Newswire (Canada)

Issued on behalf of Nord Precious Metals Mining Inc.After a historic 12 months in silver — a new all-time high above US$121, a fresh wave of structural supply deficits, and a 150%+ year-over-year run — producers are scrambling for high-grade ground. One Canadian junior just consolidated nearly 4 kilometres of boundary through a district where past miners pulled more than 50 million ounces on either side of the claim lines.USA News Group News CommentaryNEW YORK, April 20, 2026 /CNW/ -- Silver has been the story of 2026. After breaking above US$100 per ounce for the first time in history in late 2025 and setting a nominal all-time high of US$121.67 per ounce on January 29, 2026, the metal has been consolidating its gains in a band around US$75 to US$85 through the first four months of the year.[1] Spot silver traded near US$80 per ounce this week, up roughly 150% from twelve months ago.[2][3]
Underlying that move is a structural story that is becoming hard to ignore. The Silver Institute and Metals Focus have warned that 2026 will mark the sixth consecutive year of global silver supply deficits, with cumulative draws of 762 million troy ounces from aboveground stocks since 2021 — roughly equivalent to one full year of global mine output.[2] Industrial demand — led by solar, EV electronics, and AI-driven data centre infrastructure — has refused to cool even at these prices.That backdrop has changed what is economic. Past-producing ground that was uneconomic at silver below US$20 per ounce a decade ago looks very different at US$80. And in Ontario's historic Cobalt-Gowganda silver camp, one junior just closed a consolidation that no single operator has ever held.A District Play with No Modern PrecedentNord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) (FSE: QN3) has closed the March 31, 2026 acquisition of four mining leases in the Gowganda Silver Camp from Battery Mineral Resources Corp., consolidating nearly 4 kilometres of historic property boundary into a single land package.[4] Approximately half of that boundary runs through areas of documented past production — ground where historical operators on both sides of the line pulled high-grade silver but could never extend mining across the claim.With this consolidation, three of the five largest past-producing mines in the Gowganda Camp — Miller Lake-O'Brien (Siscoe), Castle, and Millerett — now sit within Nord's flagship Castle property.[4] The Miller Lake-O'Brien Mine alone produced approximately 42 million ounces of silver between 1910 and 1972, making it the largest past-producing Cobalt-style silver mine outside of the Cobalt Mining Camp itself.[4] Nord's own Castle Mine, immediately adjacent, produced 9.9 million ounces of silver. Combined Gowganda Camp production from 1910 to 1989 totalled 60.1 million ounces of silver and 1.4 million pounds of cobalt.[4]"The Company is excited to be able to drill through these historically defined artificial boundaries. With one company having title to all the area leases, we expect to identify new mineralization," stated Frank J. Basa, P.Eng., President and CEO of Nord.[4] "Just one of the past-producing mines acquired produced approximately 40 million ounces of silver. Existing permits allow drilling along the boundaries, and new permits will be submitted to allow additional drilling across this highly prospective ground. We are not simply exploring. We have a mill, we have a gravity plant, we have an engineering partner, and we have a regulatory pathway. Every metre we drill now feeds directly into a production plan."[4]A Modern Model Applied to Historic GroundNord's 2025 3D geological model at Castle East, completed by Ronacher McKenzie Geoscience using 75,000 metres of historical drill data, identified 29 discrete vein structures in a complex stockwork system hosted by the Nipissing diabase.[4] The same geological host underlies the acquired Gowganda properties — which means the modern structural interpretation methodology that found new targets at Castle East can now be applied across the consolidated land package, explicitly targeting the boundary zones where historical operators were forced to stop.Existing permits already allow drilling along the boundaries. New permits are being prepared for drilling across the broader consolidated ground.[4]A Tailings Resource That's Already Been DelineatedBeyond underground targets, the acquired leases host a historical NI 43-101 indicated tailings resource of approximately 1,940,000 tonnes grading 47.5 g/t Ag for approximately 2,960,000 contained ounces of silver (GeoVector Management, 2011, based on 764 drill holes totalling 3,012 metres).¹[4] Core-area programs have returned higher grades — Temex's 2012 re-sampling reported a historical average of 60.9 g/t silver for the North Pile and South Pond, and the Sandy K Mines 2020 core-area program returned an average grade of 62.6 g/t (2.0 oz/ton) from dry tailings.[4]BMR's own 2018 sonic drilling program (103 holes, 773 metres) confirmed multi-element endowment with weighted averages of 52.15 ppm Ag, 165.67 ppm Co, and 714.56 ppm As from 529 samples analysed at ALS.[4] Critically, the silver occurs as coarse, liberated native grains amenable to gravity concentration, with historical testwork at Lakefield Research achieving silver recoveries of 77% to 86%.[4]Why This Looks Different from Most JuniorsThe difference between Nord and a typical early-stage silver explorer sits in the infrastructure that is already in place. TTL Laboratories in Cobalt, Ontario — the only permitted high-grade milling facility in the Cobalt Camp — has already produced refined silver doré, including a 1,000-ounce silver bar from Cobalt Camp material.[4] A 600 tonne-per-day modular gravity plant has been acquired and awaits commissioning upon receipt of the Recovery Permit, for which the Ontario Ministry of Mines has provided an advanced template and an 80-day fast-track processing pathway.[4]T Engineering Inc., retained April 8, 2026, is advancing the engineering and pilot-scale testwork required to bring the tailings recovery program into operation under Ontario's Recovery Permit framework.[4]On the balance sheet side, Nord closed a non-brokered private placement financing on April 15, 2026, issuing 11,666,667 units at $0.15 per Unit for gross proceeds of $1,750,000, with proceeds earmarked for exploration at Castle East and general working capital.[5]How the Silver Majors Are PositioningWhile Nord consolidates ground in Ontario, the broader silver space has been reshaping itself at scale.First Majestic Silver Corp. (NYSE: AG) reported first quarter 2026 production of 3.5 million ounces of silver and 34,341 ounces of gold from its four Mexican mines — Santa Elena, Los Gatos (70% interest), San Dimas, and La Encantada — representing 26% of its 2026 silver guidance midpoint.[6]At the end of March, First Majestic announced updated Mineral Reserve and Resource Estimates with effective date December 31, 2025, including a maiden Inferred Mineral Resource at the Santo Niño silver-gold discovery at Santa Elena. Together, the Navidad vein system and Santo Niño now host 10.5 million tonnes of Inferred Mineral Resources containing 90.7 million AgEq ounces at an average grade of 268 g/t AgEq.[6] First Majestic has also commenced a restart plan for the Jerritt Canyon gold operation targeting production in the second half of 2027.[6]Hecla Mining Company (NYSE: HL) — the largest silver producer in the United States and Canada — reported 2025 full-year silver production of 17 million ounces from operations including Greens Creek, Lucky Friday, and Keno Hill, with year-end reserves of 231 million ounces of silver.[7]Greens Creek produced 8.7 million ounces of silver in 2025 while growing its reserve base by 2.4 million ounces, and Lucky Friday delivered a record 5.3 million ounces. Hecla has issued 2026 consolidated silver production guidance of 15.1 to 16.5 million ounces and plans to nearly double its 2026 exploration investment to $55 million, focused on Nevada, Greens Creek, Keno Hill, and Lucky Friday.[7] Hecla also agreed to sell its Casa Berardi subsidiary to Orezone Gold for up to $593 million in total consideration, with proceeds earmarked for debt reduction and refocusing the Company on its core silver portfolio.[7]Coeur Mining, Inc. (NYSE: CDE) raised its 2026 production outlook after closing its acquisition of New Gold Inc., now expecting to produce 680,000 to 815,000 ounces of gold, 18.68 million to 21.93 million ounces of silver, and 50 million to 65 million pounds of copper in 2026.[8]The New Gold deal adds the New Afton and Rainy River mines in Canada and expands Coeur's operating portfolio to seven mines across the U.S., Canada, and Mexico. Coeur reported 2025 revenue of $2.1 billion with net income of $586 million and adjusted EBITDA of approximately $1 billion, and approved a $750 million share buyback program alongside a new $1 billion revolving credit facility.[8]Endeavour Silver Corp. (NYSE: EXK) provided 2026 consolidated guidance for Terronera, Guanaceví and Kolpa of 8.3–8.9 million ounces of silver and 46,000–48,000 ounces of gold, for 14.6–15.6 million silver equivalent ounces.[9]Total 2026 capital is budgeted at $157.8 million, including $65.8 million to advance the Pitarrilla project — one of the world's largest undeveloped silver deposits — toward a feasibility study. Terronera has commenced its first full year of commercial production, and the Kolpa mine in Peru has been fully integrated into Endeavour's operating portfolio following its April 2025 acquisition.[9]Why the Boundary Drilling MattersWhat separates Nord's setup from the majors isn't scale — it's the specific mechanical fact that for more than a century no one could drill across certain claim lines. Today one company can. The geological logic is straightforward: where a historic operator's vein ran into the property boundary and stopped, the vein itself did not stop. Only the drilling did.With silver trading near US$80 per ounce against a sixth consecutive year of structural supply deficits, with existing permits covering the boundary drilling and new permits in preparation, with a permitted mill and a 600 tpd gravity plant in hand, and with an engineering partner already retained to advance near-term tailings recovery, Nord's consolidated district represents one of the more unusual setups in the junior silver space.[4]For continuing coverage of Nord Precious Metals Mining Inc. (TSXV: NTH) (OTCQB: CCWOF) and related developments in the silver mining sector, please visit: USANewsGroup.comDISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USANewsgroup.com is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca media Corp, who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for Nord Precious Metals Mining. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. ("BAY") There may also be 3rd parties who may have shares of Salazar Resources Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY does not own any shares of Nord Precious Metals Mining but reserves the right to buy and sell, and will buy and sell shares of Nord Precious Metals Mining at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Nord Precious Metals Mining. In summary, this is a paid advertisement, we currently do not own any shares of Nord Precious Metals Mining but will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Article Sources[1] APMEX Silver Price page, accessed April 16, 2026. https://www.apmex.com/silver-price[2] Trading Economics, Silver commodity page, accessed April 16, 2026. https://tradingeconomics.com/commodity/silver[3] Bullion.com, Silver Spot Price page, accessed April 16, 2026. https://www.bullion.com/spotprices/silver-price[4] Nord Precious Metals Mining Inc. press release, "Nord Precious Metals Targets Past-Producer High-Grade Silver Boundary Areas with Next Phase of Drilling," April 20, 2026.[5] Nord Precious Metals Mining Inc. press release, "Nord Precious Metals Closes Unit Financings," April 15, 2026. [6] First Majestic Silver Corp. press release, "First Majestic Reports Q1 2026 Production Results," April 9, 2026. https://firstmajestic.com/_resources/news/nr-20260409.pdf[7] Hecla Mining Company press release, "Hecla Announces Full Year Production and 2026 Guidance," January 26, 2026. [8] Mining.com, "Coeur lifts 2026 production after New Gold deal closes," March 2026. https://www.mining.com/coeur-lifts-2026-production-after-new-gold-deal-closes/[9] Endeavour Silver Corp. press release, "UPDATE – Endeavour Silver Provides 2026 Guidance," January 16, 2026.Media ContactUSA News Group
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View original content:https://www.prnewswire.com/news-releases/silver-deficit-hits-sixth-straight-year-as-one-cobalt-camp-consolidator-prepares-to-drill-the-boundaries-past-producers-could-never-cross-302746977.htmlSOURCE USA News Group

Original: Silver Deficit Hits Sixth Straight Year as One Cobalt Camp Consolidator Prepares to Drill the Boundaries Past Producers Could Never Cross

First Majestic Silver posts Q1 2026 production resultsApril 9, 2026 9:59 AM
IH Market News
First Majestic Silver Corp. (NYSE:AG) reported first-quarter 2026 production totals of 3.5 million ounces of silver, 34,341 ounces of gold, 15.4 million pounds of zinc, 8.7 million pounds of lead, and 262,913 pounds of copper from its four underground mining operations in Mexico.Silver output declined 4% year over year to 3.5 million ounces, compared with 3.7 million ounces in the first quarter of 2025. The company said the drop was mainly due to lower head grades processed, reflecting a reduction in cut-off grades as stronger metal prices made lower-grade material economical to mill. Gold production also fell, slipping 6% to 34,341 ounces from 36,469 ounces in the same period last year, largely because of lower gold grades.Silver production during the quarter accounted for 26% of the midpoint of the company’s full-year 2026 guidance, while gold output represented 28% of the annual target midpoint.Production at the La Encantada mine improved significantly, with silver output rising 48% year over year. The increase was attributed to higher-grade ore extracted from the Ojuelas zone along with improved ore flow driven by operational initiatives and the addition of a new mine development contractor.During the quarter, First Majestic processed 1,059,333 tonnes of ore, marking a 12% increase from the 944,373 tonnes processed in the first quarter of 2025. The company operated up to 27 drill rigs during the period and completed roughly 65,970 meters of drilling across its mining properties.The company also said it has initiated a restart plan for the Jerritt Canyon Gold Mine in Nevada, with production targeted for the second half of 2027. The restart follows expanded mineral resource estimates and encouraging drilling results over the past two years.First Majestic plans to report its full financial results for the first quarter of 2026 on May 12, 2026, and will hold a conference call later that day at 8:30 a.m. Pacific Time to discuss production and financial performance.First Majestic Silver Corp stock price

Original: First Majestic Silver posts Q1 2026 production results

First Majestic Reports Q1 2026 Production ResultsApril 9, 2026 7:00 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 9, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") announces that total production in the first quarter of 2026 was 3.5 million ounces of silver ("Ag"), 34,341 ounces of gold ("Au"), 15.4 million pounds of zinc ("Zn"), 8.7 million pounds of lead ("Pb") and 262,913 pounds of copper ("Cu"), across the Company's four producing underground mines in Mexico, namely, the Santa Elena Silver/Gold Mine ("Santa Elena"), the Los Gatos Silver Mine ("Los Gatos") (the Company holds a 70% interest in the Los Gatos Joint Venture that owns the mine), the San Dimas Silver/Gold Mine ("San Dimas"), and the La Encantada Silver Mine ("La Encantada").Q1 2026 PRODUCTION AND OTHER HIGHLIGHTSQuarterly Silver Production (26% of guidance midpoint): The Company produced 3.5 million silver ounces in Q1 2026 compared to 3.7 million silver ounces produced in Q1 2025, representing 26% of the 2026 silver production guidance midpoint. The modest decrease in silver production was partially attributable to a lower head grade milled, reflecting a reduced cut-off grade in Q1 2026 versus Q1 2025 in response to a stronger metal price environment. This was partially offset by a 48% year-over-year increase in silver production at La Encantada, driven by higher grades mined from the Ojuelas zone. Quarterly Gold Production (28% of guidance midpoint): The Company produced 34,341 gold ounces in Q1 2026 compared to 36,469 gold ounces produced in Q1 2025, representing 28% of the 2026 gold production guidance midpoint. The decline in gold production was primarily driven by lower gold grades milled, reflecting the application of a lower cut-off grade.Continued Active Exploration Program: During the first quarter, the Company completed a total of approximately 65,970 metres ("m") of drilling across its mines in Mexico. During the quarter, up to 27 drill rigs were active consisting of five rigs at Los Gatos, seven rigs at Santa Elena, 13 rigs at San Dimas, and two rigs at La Encantada. Positive Exploration Results: In March, the Company announced the results of a successful 2025 exploration program at its Jerritt Canyon Gold Mine ("Jerritt Canyon") located in Nevada, USA, including drilling at the Mahala, Javelin, and Saval targets within the Smith-SSX-Saval mining area (see news release dated March 10, 2026). Strong Growth in Mineral Reserves and Mineral Resource Estimates: At the end of March, First Majestic announced updated Mineral Reserve Estimates for its four operating mines in Mexico, and updated Mineral Resource Estimates for its operating mines and for Jerritt Canyon, each with an effective date of December 31, 2025 (see news release dated March 31, 2026). Santa Elena delivered the largest percentage increase in Inferred Mineral Resources, driven by continued drilling success at the Navidad vein system and the declaration of a maiden Inferred Mineral Resource at the Santo Niño silver-gold discovery. Together, Navidad and Santo Niño host 10.5 million tonnes of Inferred Mineral Resources containing 90.7 million AgEq ounces, at an average grade of 268 g/t AgEq. Restart plan commenced for Jerritt Canyon targeting production in H2 2027: On April 2nd, the Company announced that it has commenced a restart plan for Jerritt Canyon as a result of the new expanded Mineral Resource base at Jerritt Canyon combined with strengthened long-term gold price assumptions and successful drilling results over the past two years (see news release dated April 2, 2026). Strong Safety Performance Continues: The consolidated Q1 2026 Total Reportable Incident Frequency Rate ("TRIFR") for the Company was 0.61. The Lost Time Incident Frequency Rate ("LTIFR") was 0.06 consistent with the same period last year. The Company's safety performance continues to be best in class amongst its peer group. "The momentum we built at the end of last year has carried strongly into 2026," said Keith Neumeyer, CEO. "Q1 production is tracking well against our 2026 guidance, with all operations performing at or above plan, positioning First Majestic favourably in the current metal price environment. Several key initiatives are underway, including the Santa Elena mill expansion, increased throughput and recovery improvements at Los Gatos, and another robust exploration program across our portfolio."Attributable Consolidated Production Details:Q1Q1Y/Y
Q4Q/Q20262025ChangeAttributable Consolidated Production Results2025Change1,059,333944,37312%Ore processed/tonnes milled1,058,276-%3,545,6833,704,503(4)%Silver ounces produced4,165,334(15)%34,34136,469(6)%Gold ounces produced41,417(17)%15,407,85612,492,86923%Zinc pounds produced14,238,9278%8,700,1487,487,06516%Lead pounds produced8,108,9497%262,913237,86011%Copper pounds produced235,88611% Consolidated production values include attributable ounces from the Los Gatos Silver Mine (70%) from January 16, 2025 onwards.Q1 2026 Mine-by-Mine Production Details:MineOre
ProcessedTonnes
per DayAg Grade
(g/t)Au Grade
(g/t)Ag
RecoveryAu
RecoveryAg Oz
ProducedAu Oz
ProducedLos Gatos (100%)324,8273,5701900.1985%48%1,690,127937Los Gatos (70%)227,3792,4991900.1985%48%1,183,089656Santa Elena284,2363,123612.4364%95%355,82721,117San Dimas235,5192,5881751.7689%94%1,177,68612,541La Encantada312,1993,4311210.0069%90%829,08127 Certain amounts shown in this table may not add exactly to the total amount due to rounding differences.Los Gatos (reported on a 70% attributable basis):During the first quarter, Los Gatos produced 1,183,089 ounces of silver, 15,407,856 pounds of zinc, 8,700,148 pounds of lead, 235,886 pounds of copper and 656 ounces of gold, aligned with guidance. The Company continues to focus on increasing throughput at Los Gatos by increasing mine development and long-hole drilling rates and is targeting a sustained ore throughput of 4,000 tpd, based on operating days, in the second half of 2026.The mill processed a total of 227,379 tonnes of ore, up 17% year-over-year, with head grades of 190 g/t silver, 4.20% zinc, 2.00% lead and 0.19 g/t gold. Silver, zinc, lead and gold recoveries during the quarter averaged 85%, 73%, 87% and 48%, respectively.During the quarter, five surface drill rigs completed 10,598 m of drilling on the property. Drilling continued at the Central and Northwest Deeps zones, as well as several greenfield targets. Santa Elena:Santa Elena produced 355,827 ounces of silver, up 5% year-over-year, and 21,117 ounces of gold, down 1% year-over-year. The mill processed another quarterly record of 284,236 tonnes of ore in the first quarter, 5% higher than the same period last year, with average silver and gold head grades of 61 g/t and 2.43 g/t, respectively. Average silver ore grades increased 5%, while gold ore grades declined 6% compared to the same quarter last year, in line with the mine plan.Silver and gold recoveries during the quarter averaged 64% and 95%, respectively, compared to 68% and 95% in the same period last year. Lower silver recoveries were realized as a result of higher throughput rates in line with recent quarters.During the quarter, seven drill rigs, consisting of five surface rigs and two underground rigs, completed 20,429 m of drilling on the property. Drilling activities included infill drilling aimed at converting Inferred Mineral Resources to Indicated Mineral Resources, as well as drilling at select greenfield exploration targets. San Dimas:San Dimas produced 1,177,686 ounces of silver and 12,541 ounces of gold, down 13%, and 12%, respectively, when compared to the same period last year. The quarterly performance was a result of lower silver and gold grades as planned and guided, partially offset by slightly higher throughput. The mill processed a total of 235,519 tonnes of ore, an increase of 2% compared to Q1 2025, with average silver and gold grades of 175 g/t and 1.76 g/t, respectively, compared with average silver and gold grades of 203 g/t and 2.04 g/t, respectively, in the same period last year. Higher throughput was achieved through improved mining rates driven by increased long-hole stoping that provided a steady supply of fresh ore to the mill.Silver and gold recoveries during the quarter averaged 89% and 94%, respectively, compared to 90% and 94%, respectively, in the same period last year. Lower silver recoveries resulted from more complex ores encountered in the Perez vein.During the quarter, a total of 13 drill rigs consisting of three surface rigs and 10 underground rigs completed 31,722 m of drilling on the property. Drilling focused on the Coronado, Carmen Escobosa, Elia, Roberta, and Regina vein systems.La Encantada: During the quarter, La Encantada produced 829,081 ounces of silver, representing a 48% increase compared to Q1 2025. Production at La Encantada improved significantly due to improved ore flow and mine development rates resulting from management initiatives and the engagement of a new mine development contractor. The mill processed a total of 312,199 tonnes of ore, a 25% increase over the same period last year, with an average silver grade of 121 g/t, compared to 104 g/t in the same period last year. Silver recovery for the quarter was 69%, up from 67% in Q1 2025. During the quarter, two surface drill rigs completed 3,229 m of drilling on the property. The Company is currently testing several new exploration targets.Jerritt Canyon: Drilling at Jerritt Canyon is scheduled to commence in Q2 2026. The program includes approximately 600 m of underground expansionary development and 19,000 m of underground drilling at Smith-SSX, along with an additional 23,000 m of surface drilling focused on defining near-surface, open-pit mineral resources, for a total of 42,000 m of drilling in 2026.The re-opening of the Smith-SSX underground mines, mine plan optimization, and upgrading of the processing plant will commence in Q2 2026 as key components of the Company's recently announced restart program for Jerritt Canyon.Q1 2026 EARNINGS AND DIVIDEND ANNOUNCEMENTThe Company plans to release its unaudited financial results for the first quarter of 2026, and to announce its dividend payment for the first quarter of 2026 (along with the shareholder record and payable dates for such dividend payment), on May 12, 2026.CONFERENCE CALL ANNOUNCEMENTThe Company will host a conference call and webcast on Tuesday, May 12, 2026, at 8:30 a.m. (PT) / 11:30 a.m. (ET) to provide investors and analysts with a business update, and to discuss its production and financial results for Q1 2026.To participate in the conference call, please use the following dial-in numbers:Canada & USA Toll-Free:+1-833-752-3407Outside of Canada & USA:+1-647-846-2866Toll-Free UK:+44-20-3514-3188 Participants should dial-in at least 15 minutes prior to the start of the call to ensure placement in the conference on time.A live webcast of the call will be accessible through the "May 12, 2026 Webcast Link" on the First Majestic home page at www.firstmajestic.com. A webcast archive will be available approximately one hour after the end of the event and will be accessible for three months through the same link as the live event. A recording of the conference call will be available for telephone replay approximately one hour after the end of the event by calling:USA & Canada Toll-Free:+1-855-669-9658Outside of Canada & US:+1-412-317-0088Access Code:3457502 The telephone replay will be available for seven days following the end of the event.GENERAL NOTES WITH RESPECT TO TECHNICAL INFORMATIONThe Company has undertaken a verification process with respect to the data disclosed in this news release. First Majestic's drilling programs follow established quality assurance and quality control ("QA/QC") protocols, including the routine insertion of certified reference standards, blanks, and duplicate samples. Drill core is geologically logged and cut in half, with one half submitted for laboratory analysis and the remaining half retained on site for verification, reference, or future metallurgical testing. Core samples were analyzed using industry standard fire assay and atomic absorption analytical methods, with gravimetric finishes applied to over limit results. QA/QC results are routinely reviewed by site and corporate technical personnel and demonstrate acceptable accuracy and precision. The Company's Qualified Persons (as such term is defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101")) are of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable for the purposes of the Mineral Resource and Mineral Reserve estimates disclosed herein.For further information regarding QA/QC and data verification procedures, key assumptions, parameters, and methods used to estimate Mineral Resources and Mineral Reserves, and a discussion of known risks that could materially affect the Company's business and the potential development of Mineral Resources and Mineral Reserves, refer to the sections entitled "General Development of the Business – Material Mineral Properties" and "Risk Factors" in the 2025 AIF for the year ended December 31, 2025.QUALIFIED PERSONSGonzalo Mercado, P.Geo., the Company's Vice President of Exploration & Technical Services and a "Qualified Person" as defined under NI 43-101, has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data. First Majestic is authorized by The Association of Professional Engineers and Geoscientists of the Province of British Columbia to engage in Reserved Practice under Permit to Practice number 1005571.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine, which is an advanced-stage development asset that was placed on temporary suspension in March 2023.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at http://www.firstmint.com/, at some of the lowest premiums available.For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEO Cautionary Note Regarding Forward-Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates 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 in this news release include, but are not limited to, statements with respect to: the timing for the release of the Company's financial results for the first quarter of 2026 and the announcement of details relating to the Company's dividend payment for the first quarter of 2026; the Company's target to increase ore throughput at Los Gatos to 4,000 tpd, based on operating days, in the second half of 2026; and details regarding the Company's investor conference call in May 2026 to discuss its Q1 2026 production and financial results. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward-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 mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates 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 the 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 events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "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 forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of global health crises, such as pandemics, on our operations and workforce, and the effects on global economies and society; general economic conditions including inflation risks; 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; social and labour unrest; relations with local communities; changes in national or local governments; changes in applicable legislation, rules or regulations and the application and enforcement thereof; delays in obtaining approvals or financing or in the completion 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 coverage as well as those factors discussed in the section entitled "Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2025 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the year ended December 31, 2025 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar. Although First Majestic has attempted to identify important factors that could cause actual results 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.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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291740
Original: First Majestic Reports Q1 2026 Production Results

First Majestic Announces Restart Plan for Jerritt Canyon Gold MineApril 2, 2026 7:00 AM
NewsfileTargeting Production Restart in the Second Half of 2027Vancouver, British Columbia--(Newsfile Corp. - April 2, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce that it has commenced a restart plan for its Jerritt Canyon Gold Mine ("Jerritt Canyon") located in Nevada, USA, as a result of the new expanded Mineral Resource base combined with strengthened long-term gold price assumptions and successful drilling results over the past 2 years. As part of this plan, the Company has engaged Stantec Consulting Services Inc. to complete a pre-feasibility level study on Jerritt Canyon (the "Study") that is expected to be completed in Q4 of 2026.The Company plans to invest $75 million in 2026 to support the restart of Jerritt Canyon, with production expected to commence in the second half of 2027. The 2025 year-end Mineral Resource Estimates, released on March 31, 2026, highlight Jerritt Canyon's strong sensitivity to bulk-tonnage, low-cost open-pit mining opportunities. The Study will focus on defining the optimal path to sustained, long term, production by leveraging this open-pit potential, complemented by the existing underground mining operations."With the successful and seamless integration of Gatos Silver now complete, we are focusing our attention on restarting Jerritt Canyon," said Keith Neumeyer, CEO of First Majestic. "This fully permitted gold mine is located in a premier, tier-one mining jurisdiction with all critical infrastructure in place and is underpinned by a new expanded Mineral Resource base of 4.1 million gold ounces in the Measured and Indicated categories, together with an additional 3.7 million gold ounces classified as Inferred Mineral Resources. In the current favourable metal price environment, Jerritt Canyon represents a rare and compelling opportunity to generate meaningful shareholder value. We are now commencing a restart plan through enhanced operations, including owner-operated mining and an optimized mine plan. To support these efforts, First Majestic is committing $75 million in 2026 to complete the necessary technical and operational work, with targeted production in the second half of 2027."CAPITAL INVESTMENTFirst Majestic will invest $75 million during 2026 to strategically position Jerritt Canyon for a restart of gold production in the second half of 2027. This program is designed to advance the technical and operational workstreams required to complete a restart plan and provide investors with visibility on the asset's long-term economics. Table 1: Jerritt Canyon Restart Program Capital Breakdown for 2026Surface Support and Initial Mining Fleet Purchase$13 millionPlant Upgrading and Winterization$12 millionUnderground Preparation and Development$13 millionExploration Program$15 millionVarious Technical Studies$10 millionWorkforce and Staffing$7.5 millionDewatering Upgrades$4.5 millionTOTAL$75 million The Study will assess various open pit and underground mine designs & schedule scenarios. Trade-offs of mining methods and mining sequences will be assessed against key constraints. The study will develop an optimized mining plan to determine the optimal production schedule for 2027 and beyond. In Q2 2026, the Company will commence work to open and rehabilitate the Smith and SSX underground mines, while advancing targeted exploration activities. The program includes approximately 600 metres ("m") of underground expansionary development and 19,000 m of underground drilling at Smith-SSX, along with an additional 23,000 m of surface drilling focused on defining near-surface open-pit mineral resources, for a total of 42,000 m of drilling in 2026.In parallel with pre-feasibility-level mine planning and ongoing exploration, the Company will advance several key development initiatives, including procurement of the initial underground mining fleet, upgrades to the processing plant and construction of a new deep well to supply fresh water to the processing plant. The Company will also expand the mine's technical, administrative, human resources, safety, and environmental teams, while completing detailed engineering and technical assessments of Jerritt Canyon's mineral processing infrastructure. The Company will be providing additional progress updates throughout the year on the restart plan and initial production targets, as well as a revised capital budget as part of its H2 guidance update planned for July 2026. Figure 1: Location of the Jerritt Canyon Mines and Gold Mineral Deposits, Underground and Open Pit Mineral Resource Estimates, Plan ViewTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290962_32cb44ca946fb893_002full.jpgFigure 2: Plan View and Vertical Section of 2025 Year-End Underground and Open Pit Resources in the Saval / SSX / Mahala / Javelin / Smith Mine Zones with Areas of Interest ("AOI") for Targeted Exploration DrillingTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290962_32cb44ca946fb893_003full.jpgABOUT JERRITT CANYON GOLD MINEThe Jerritt Canyon Gold mine is located in Elko County, Nevada, United States. Jerritt Canyon was discovered in 1972 and since the commencement of mining in 1981 to March 2023, approximately 9.85 million ounces of gold were produced at an average grade of 6.6 g/t Au. Open pit mining at Jerritt Canyon produced a total of approximately 5.2 million ounces of gold at an average grade of 5.9 g/t Au while underground mining produced a total of approximately 4.65 million ounces Au at an average grade of 7.7 g/t Au. Since 2010, most of the production has come from the SSX and Smith gold deposits. The mine was purchased by First Majestic in April 2021 and operated as an underground mine until it was temporarily placed in care and maintenance in March 2023, during a period when gold prices ranged between $1,600 and $1,900 per ounce, due to ongoing challenges including high contractor costs and multiple extreme weather events affecting northern Nevada during the winter of 2022/23. During the care and maintenance period, First Majestic has ensured all environmental, permitting and compliance requirements have been maintained and remain in good standing for a potential restart. Jerritt Canyon is a 100%-owned property of First Majestic and hosts one of only three permitted gold processing facilities in Nevada that utilize roasting as part of the ore treatment process. The processing plant has a nominal capacity of approximately 4,000 metric tonnes per day and is supported by a large, contiguous land package totaling 30,821 hectares (119 square miles), of which approximately 85% remains underexplored.The Jerritt Canyon property hosts a substantial gold mineral endowment. With an effective date of December 31, 2025, Measured and Indicated Mineral Resources are estimated to total 4.1 million ounces of gold, with an additional 3.7 million ounces of gold classified as Inferred Mineral Resources, as summarized in the tables below. The Mineral Resource estimates have been prepared in accordance with the CIM Definition Standards and disclosed in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.Table 2: Measured and Indicated Mineral Resource Estimates for Jerritt Canyon with an Effective Date of December 31, 2025To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290962_32cb44ca946fb893_004full.jpgTable 3: Inferred Mineral Resource Estimates for Jerritt Canyon with an Effective Date of December 31, 2025To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290962_32cb44ca946fb893_005full.jpgMineral Resource estimates are classified per CIM Definition Standards and NI 43-101.Mineral Resource estimates are based on internal estimates with an effective date of December 31, 2025. The Mineral Resource estimates were prepared under the supervision of, or were reviewed by, David Rowe, CPG, the Company's Director of Mineral Development and the "Qualified Person" (as such term is defined in NI 43-101) responsible for the above Mineral Resource estimates.All mineral resource estimates are for deposits considered amenable to underground mining (UG) or by open pit mining (OP).AgEq grade was calculated using the ratio of gold and silver prices.Metal prices for Mineral Resources estimates were $38.5/oz Ag and $3,400/oz Au.The cut-off grade considered to constrain resources assuming an underground operation was of 1.13g/t Au based on actual and budgeted operating and sustaining costs. Mineral Resources amenable to open pit mining methods are reported above a cut-off grade of 0.43 g/t Au.Underground Mineral Resources are reported within mineable stope shapes using the cut-off grades calculated using the stated metal prices and metal recoveries. Open pit Mineral Resources are reported within a mineable pit shape and the cut-off grade for open pits.No dilution was applied to the Mineral Resources which are reported on an in-situ basis.Tonnage is expressed in millions of tonnes; metal content is expressed in millions of ounces. Totals may not add up due to rounding.Measured and Indicated Mineral Resources do not have demonstrated economic viability.DATA VERIFICATIONFirst Majestic's drilling programs follow established quality assurance and quality control ("QA/QC") protocols, including the routine insertion of certified reference standards, blanks, and duplicate samples. Drill core is geologically logged and cut in half, with one half submitted for laboratory analysis and the remaining half retained on site for verification, reference, or future metallurgical testing. Core samples were analyzed using industry standard fire assay and atomic absorption analytical methods, with gravimetric finishes applied to over limit results. QA/QC results are routinely reviewed by site and corporate technical personnel and demonstrate acceptable accuracy and precision. The Qualified Person responsible for the Mineral Resource estimates disclosed in this news release is of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable for the purposes of the estimates disclosed herein.For further information regarding QA/QC and data verification procedures, key assumptions, parameters, and methods used to estimate the Mineral Resource estimates disclosed in this news release, and for a discussion of known risks that could materially affect the Company's business and the potential development of Mineral Resources, refer to the sections entitled "General Development of the Business - Material Mineral Properties" and "Risk Factors" in the Company's annual information form for the financial year- ended December 31, 2025 (the "2025 AIF"), a copy of which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the financial year ended December 31, 2025 (the "40-F Annual Report") filed on EDGAR at www.sec.gov/edgar. QUALIFIED PERSONSScientific and technical disclosure for the material properties is based on technical reports prepared in accordance with NI 43-101 (collectively, the "Technical Reports"). The Technical Reports have been filed on SEDAR+ at www.sedarplus.ca, and are also available of the Company's website at www.firstmajestic.com. The technical information has been updated with more current information where appropriate.Gonzalo Mercado, P.Geo., the Company's Vice-President of Exploration & Technical Services, has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data. Mineral Resource estimates set out in this news release were prepared under the supervision of, or were reviewed by, David Rowe, CPG, the Company's Director of Mineral Development.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine, which is an advanced-stage development asset that was placed on temporary suspension in March 2023.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEOCautionary Note Regarding Forward Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Forward-looking statements in this news release include but are not limited to statements with respect to: the potential restart of Jerritt Canyon in the second half of 2027; timing for completion of the Study and the other work streams being conducted by the Company in 2026 to support a restart of Jerritt Canyon; and the Company's anticipation that the 2026 drilling program at Jerritt Canyon will translate into significant Mineral Resource additions for the property. These statements, including but not limited to, statements relating to a potential restart of Jerrit Canyon, are not based on a preliminary economic assessment, pre-feasibility study or feasibility study of mineral reserves that demonstrate the economic and technical viability of the mine. As a result, there is increased uncertainty related to the economics of the mine and increased technical risks of failure associated with restarting the mine prior to completing the pre-feasibility level study for Jerritt Canyon. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions, or expectations upon which they are placed will occur. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "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". Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates 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 the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes; general economic conditions including inflation risks; labour relations; relations with local communities; changes in national or local governments; exchange rate fluctuations; environmental risks; requirements for additional capital; outcomes of pending litigation; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations as well as those factors discussed in the section entitled "Risk Factors" in the 2025 AIF filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca and in the 40-F Annual Report filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar. Although the Company has attempted to identify important factors that could cause actual results 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.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.Cautionary Note to United States InvestorsThe Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290962
Original: First Majestic Announces Restart Plan for Jerritt Canyon Gold Mine

America Just Classified Silver as a Critical Mineral. The Company Sitting on 36 Million Ounces in Nevada Is About to Start Drilling.March 31, 2026 7:02 PM
PR Newswire (US)

Issued on behalf of Americore Resources Corp.VANCOUVER, BC, March 31, 2026 /PRNewswire/ -- USANewsGroup.com — In November 2025, the U.S. Geological Survey added silver to the Critical Minerals List for the first time. In January 2026, China imposed a complete ban on silver exports. And throughout that period, silver prices climbed from under $30 to over $121 per ounce, shattering a 45-year-old record. The message from the market is unambiguous: silver is no longer just a precious metal. It is a strategic industrial commodity, and the world does not have enough of it.







The Silver Institute projects a sixth consecutive year of structural supply deficit. Solar panel manufacturing alone is forecast to consume the majority of silver reserves by mid-century. Samsung SDI's silver-carbon solid-state battery technology requires nearly one kilogram per vehicle. And with China — responsible for roughly 20% of global mine supply — now keeping every ounce for its own manufacturing base, the supply squeeze is tightening from both ends.The producers positioned for this environment are delivering record results. First Majestic Silver (NYSE: AG) produced 15.44 million ounces of silver in 2025, near the top of guidance, and completed a $970 million acquisition of Gatos Silver that gave it a 70% interest in the Los Gatos mine in Mexico. First Majestic gets an industry-leading 58% of revenue from silver, making it one of the purest plays in the sector. Endeavour Silver (NYSE: EXK) achieved commercial production at its new Terronera mine in Mexico in October 2025 and acquired Compania Minera Kolpa in Peru for $145 million, expanding its operating footprint across two countries.Fresnillo (OTC: FNLPF), the world's largest primary silver producer, is advancing brownfield and greenfield projects to boost its production platform through 2030, with analysts projecting 380% earnings growth in 2025 and 20% growth in 2026. MAG Silver (TSX: MAG) operates the high-grade Juanicipio mine in Mexico, one of the most significant silver discoveries of the past decade, before being acquired by Pan American Silver for $2.1 billion — a transaction that valued its silver ounces at a premium that set the benchmark for the sector.But the structural deficit cannot be closed by existing producers alone. The market needs new domestic supply. And that's where the opportunity sits.Americore Resources Corp. (TSXV: AMCO) (OTCQB: AMCOF) is advancing the 100%-owned Trinity Silver Project in Pershing County, Nevada — 22,700 acres of consolidated, past-producing silver ground where U.S. Borax mined approximately 5 million ounces between 1987 and 1988. The company has expanded the historic resource base to over 36 million ounces of Silver Equivalent, completed a 350 line-km drone-magnetometer survey in early 2026, and is now permitting a Q2 2026 drill campaign designed to upgrade the resource from Inferred to Indicated. The BLM permitting pathway requires only a Notice of Disturbance for under five acres.CEO Jeff Poloni described the program as targeting both confirmation and expansion drilling, with an updated NI 43-101 Mineral Resource Estimate targeted for Q2 2026 — the event that would convert a historic resource into a current, bankable, institutionally visible reality. The company is also evaluating monetization of an existing above-ground stockpile at Trinity as a potential near-term revenue stream.Silver is a Critical Mineral. China banned exports. The deficit is structural. And the only silver that matters now is the silver under American soil. Americore Resources (TSXV: AMCO) (OTCQB: AMCOF) controls one of the largest consolidated silver land packages in Nevada and is about to drill it.For more information on Americore Resources Corp. (TSXV: AMCO) (OTCQB: AMCOF), visit USANewsGroup.comRead this and more news for Americore Resources at: USANewsGroup.comArticle Source: https://usanewsgroup.com/amco-profileCONTACT:
USA NEWS GROUP
info @acblanke1DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Americore Resources Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Americore Resources Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ owns shares of Americore Resources Corp. which were purchased in the open market, and/or through private placements, and reserve the right to buy and sell, and will sell shares of Americore Resources Corp. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ has been approved by Americore Resources Corp.; this is a paid advertisement, we currently own shares of Americore Resources Corp. and will sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.



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Original: America Just Classified Silver as a Critical Mineral. The Company Sitting on 36 Million Ounces in Nevada Is About to Start Drilling.

First Majestic Announces 2025 Mineral Reserve and Mineral Resource EstimatesMarch 31, 2026 5:15 PM
NewsfileRecord Mineral Resources Strengthens Long-Term Value and Production OptionsSanto Niño Discovery Adds 27.4 Million Silver-Equivalent Ounces to Santa Elena Inferred ResourcesVancouver, British Columbia--(Newsfile Corp. - March 31, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce its 2025 Mineral Reserve and Mineral Resource estimates for its four operating mines in Mexico and its Jerritt Canyon Gold Mine ("Jerritt Canyon") in Nevada, U.S.A., with an effective date of December 31, 2025. These estimates demonstrate strong year-over-year growth in the Company's Mineral Reserves and Mineral Resources.1The Company's four operating mines in Mexico are: the Santa Elena Silver/Gold Mine ("Santa Elena"), the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine) ("Los Gatos"), the San Dimas Silver/Gold Mine ("San Dimas"), and La Encantada Silver Mine ("La Encantada"). Jerritt Canyon is an advanced-stage development asset that was placed on temporary suspension in March 2023.In 2025, First Majestic delivered a 4% year-over-year increase in silver-equivalent ounces ("AgEq"), including a 16% increase in silver, Proven and Probable Mineral Reserves, while Measured and Indicated ("M&I") Mineral Resources and Inferred Mineral Resources AgEq ounces increased by 50% and 69%, respectively. Growth in contained AgEq ounces is largely due to successful exploration activities and the application of updated metal price assumptions. Santa Elena and Jerritt Canyon delivered the most significant Mineral Resource growth during the year. Higher long-term metal price assumptions contributed positively to portfolio growth, with vein-hosted deposits showing modest growth, while higher gold price assumptions at Jerritt Canyon lowered cut-off grades and drove a significant increase in Mineral Resource contained gold as a result.At Santa Elena, exploration success was highlighted by the discovery of the Santo Niño silver-gold deposit, which added 4.1 million tonnes of Inferred Mineral Resources containing 27.4 million silver-equivalent ounces, comprised of 9.0 million ounces of silver and 210,000 ounces of gold. Continued exploration of the Navidad vein system expanded Navidad Inferred Resources to 6.4 million tonnes, containing 63.4 million silver-equivalent ounces, comprised of 18.4 million silver ounces and 460 thousand gold ounces."2025 represents an extraordinary chapter in First Majestic's growth story," said Keith Neumeyer, CEO of First Majestic. "The first objective of our exploration programs is to replace annual depletion with the drill bit. In 2025, we not only achieved that goal but significantly exceeded it, despite delivering record production in the year. Supported by a highly effective exploration campaign and the increased metal price environment, we expanded our Mineral Resource base to exceptional, unprecedented levels. Santa Elena continued to deliver strong exploration results at the Navidad and Santo Niño discoveries, Los Gatos contributed meaningful growth, and Jerritt Canyon reported a substantial increase in gold resources as bulk-tonnage mining opportunities have emerged. Strong results across the portfolio have positioned the Company to advance an ambitious exploration plan in 2026, reinforcing exploration-driven Mineral Resource growth as a key pillar of long-term value creation at First Majestic."Figure 1: Map of First Majestic's Material Properties including the Corporate Office and First Mint FacilityTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290748_334506d414842a8a_001full.jpg2025 HIGHLIGHTS 264,364 metres of exploration drilling were completed. The 2025 exploration program addressed site-specific life-of-mine opportunities across First Majestic's mines, increasing Inferred Mineral Resources at Santa Elena and Los Gatos, advancing targets across the San Dimas exploration pipeline, testing potential extensions of the Ojuelas resources at La Encantada, and exploring for resource expansion at Jerritt Canyon.Proven and Probable Mineral Reserves Increased 4% year-over-year (AgEq ounces): Proven and Probable Mineral Reserves at the Company's four operating mines in Mexico totalled 27.4 million tonnes containing 184.8 million AgEq ounces, comprised of 101.7 million ounces of silver, 610,000 ounces of gold, 685.9 million pounds of zinc, 371.4 million pounds of lead, and 39.1 million pounds copper. This represents a 53% increase in tonnes, a 16% increase in silver ounces, a 2% increase in gold ounces, a 17% increase in zinc pounds, an 18% increase in lead pounds and a 21 % increase in copper pounds compared to the prior year. The growth in reserves was driven primarily by drill conversion, higher long-term metal price assumptions and positive economics of La Encantada tailings, offsetting mining depletion.Measured & Indicated Mineral Resources Increased 50% year-over-year (AgEq ounces): M&I Mineral Resources totalled 86.6 million tonnes containing 652.8 million AgEq ounces, comprised of 145.3 million ounces of silver, 5.24 million ounces of gold, 842.6 million pounds of zinc, 450.2 million pounds of lead, and 44.0 million pounds of copper. This represents a 149% increase in tonnes, a 7% increase in silver ounces, a 79% increase in gold ounces, a 25% increase in zinc pounds, an 25% increase in lead pounds and a 25% increase in copper pounds. The growth in M&I Mineral Resources was driven by successful exploration drilling results, conversion of Inferred to M&I Resources, and updated economic parameters including revised metal price assumptions, offsetting mining depletion.The increase in M&I Mineral Resources was primarily driven by Santa Elena (+25% AgEq ounces year-over-year) and Jerritt Canyon (+116% gold ounces year-over-year). At Jerritt Canyon, higher gold price assumptions and lower cut-off grades - particularly for lower-cost bulk-mining scenarios - expanded mineralization into lower-grade material, resulting in higher tonnage at lower average grade across both open-pit and underground resources.Inferred Mineral Resources increased 69% year-over-year (AgEq ounces): Inferred Mineral Resources totalled 77.9 million tonnes containing 592.27 million AgEq ounces, comprised of 113.5 million ounces of silver, 5.2 million ounces of gold, 347.3 million pounds of zinc, 159.2 million pounds of lead, and 18.8 million pounds copper. This represents a 169% increase in tonnes, a 40% increase in silver ounces, a 76% increase in gold ounces, a 103% increase in zinc pounds, an 106% increase in lead pounds and a 168% increase in copper pounds.Santa Elena delivered the largest percentage increase in Inferred Resources, with AgEq ounces more than doubling (+105%), driven by continued drilling success at the Navidad vein system and the declaration of a maiden Mineral Resource at the Santo Niño silver-gold discovery. Together, Navidad and Santo Niño host 10.5 million tonnes of Inferred Resources containing 90.7 million AgEq ounces, comprised of 27.4 million ounces of silver and 660 thousand ounces of gold, averaging 81 g/t silver and 1.96 g/t gold. The Santo Niño discovery accounts for 4.1 million tonnes containing 27.4 million AgEq ounces, comprised of 9.0 million silver ounces and 210,000 gold ounces, at average grades of 68 g/t silver and 1.57 g/t gold. These two discoveries position Santa Elena for meaningful life-of-mine extension as these resources are advanced through resource conversion and mine planning.Jerritt Canyon's Inferred Mineral Resource growth was driven by higher gold price assumptions and the resultant lower cut-off grades, which expanded Mineral Resources into lower-grade material across both underground and open-pit mining scenarios. Year-over-year, Jerritt Canyon added 33.6 million tonnes containing 1.7 million ounces of gold. Exploration results from the Company's 2025 Jerritt Canyon drilling program received after December 31, 2025, and announced earlier this month, are not reflected in the Inferred Mineral Resources disclosed in this new release and will be incorporated in the next Mineral Resource update for the property.Los Gatos also delivered solid growth, with Inferred AgEq ounces increasing by 59% year-over-year, while San Dimas and La Encantada posted more modest increases of 3% and 16%, respectively, year-over-year. The resource growth at Los Gatos is positioning the operation for potential life-of-mine extension as exploration advances in the Southeast, Central, and Northwest Deep targets.MINERAL RESERVE AND MINERAL RESOURCE SUMMARYAs of December 31, 2025, Proven and Probable Mineral Reserve estimates at the Company's four operating mines totalled 184.8 million AgEq ounces. The 4% year-over-year increase primarily reflects exploration-driven reserve additions and lower cut-off grades supported by higher metal price assumptions, offsetting mining depletion. As of December 31, 2025, Measured and Indicated Mineral Resource estimates totalled 652.8 million AgEq ounces, while Inferred Mineral Resources totalled 592.3 million AgEq ounces. Year-over-year changes primarily reflect discovery and exploration success, Inferred-to-Indicated resource conversion, and lower cut-off grades supported by higher metal price assumptions, offsetting mining depletion. Resource growth at Jerritt Canyon was driven by higher gold price assumptions and the corresponding reduction in underground and open pit gold cut-off grades.Measured and Indicated Mineral Resources are reported inclusive of Mineral Reserves, and all Mineral Resources reflect mining depletion through 2025. Mineral Resources that are not Mineral Reserves do not demonstrate economic viability. Table 1: Proven and Probable Mineral Reserve Estimates with an Effective Date of December 31, 2025To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290748_334506d414842a8a_002full.jpgMineral Reserves have been classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards on Mineral Resources and Mineral Reserves, whose definitions are incorporated by reference into National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").The Mineral Reserve statement provided in the table above has an effective date of December 31, 2025. The Los Gatos Mineral Reserves are reported on a 70% First Majestic attributable basis.The Mineral Reserve estimates were prepared under the supervision of, or were reviewed by, Andrew Pocock, P.Eng., an employee of First Majestic and the "Qualified Person" (as such term is defined in NI 43-101) responsible for the above Mineral Reserve estimates.The Mineral Reserves were estimated from the Measured and Indicated portions of the Mineral Resource estimates. Inferred Mineral Resources were not considered to be converted into Mineral Reserve estimates.AgEq grade is estimated considering metal price assumptions, metallurgical recovery for the corresponding mineral type/mineral process and the metal payable of the selling contract. The AgEq grade formulas are different for all of the Company's operating mines and are presented in the description of each mine set out in the Company's annual information form for the year ended December 31, 2025 (the "2025 AIF").Metal prices considered for the Mineral Reserve estimates for Santa Elena, San Dimas and La Encantada were $35/oz Ag and $3,100/oz Au; metal prices considered for Los Gatos were $35/oz Ag, $3,100/oz Au, $0.95/lb Pb, $1.25/lb Zn and $4.35/lb Cu.Other key assumptions and parameters include: metallurgical recoveries; metal payable terms; direct mining costs, processing costs, indirect and G&A costs and sustaining costs. These parameters are different for each mine and mining method assumed and are presented in the description of each mine set out in the 2025 AIF.A two-step constraining approach has been implemented to estimate reserves for each mining method in use: A General Cut-off Grade ("GC") was used to delimit new mining areas that will require development of access, infrastructure, and all sustaining costs. A second Incremental Cut-off Grade ("IC") was considered to include adjacent mineralized material which recoverable value pays for all associated costs, including but not limited to the variable cost of mining and processing, indirect costs, treatment, administration costs, and plant sustaining costs but excludes the access development assumed to be covered by the block above the GC grade.The cut-off grades, metallurgical recoveries, payable terms and modifying factors used to convert Mineral Reserves from Mineral Resources are different for all mines and are presented in the description of each mine set out in the 2025 AIF.Modifying factors for conversion of Mineral Resources to Mineral Reserves include consideration for planned dilution which is based on spatial and geotechnical aspects of the designed stopes and economic zones, additional dilution consideration due to unplanned events, materials handling and other operating aspects, and mining recovery factors. Mineable shapes were used as geometric constraints. Tonnage is expressed in millions of tonnes; metal content is expressed in millions of ounces for gold and silver and in millions of pounds for zinc, lead, and copper. Metal prices and costs are expressed in USD.Numbers have been rounded as required by reporting guidelines. Totals may not sum due to rounding.The technical reports from which the above-mentioned information is derived are cited under the heading "Scientific and Technical Information - Technical Reports for Material Properties" in the 2025 AIF.Table 2: Measured and Indicated Mineral Resource Estimates with an Effective Date of December 31, 2025To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290748_334506d414842a8a_003full.jpgTable 3: Inferred Mineral Resource Estimates with an Effective Date of December 31, 2025To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290748_334506d414842a8a_004full.jpgTable 4: Santa Elena - Navidad and Santo Niño Inferred Mineral Resource Estimates with an Effective Date of December 31, 2025
(Included in the Santa Elena Inferred Total (UG + Stockpile))To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/290748_334506d414842a8a_005full.jpgMineral Resource estimates are classified per CIM Definition Standards and NI 43-101.The Mineral Resource estimates have an effective date of December 31, 2025. Sample data was collected through a cut-off date of December 31, 2025 for the five properties. All properties account for relevant technical information and mining depletion through December 31, 2025.The Los Gatos Mineral Resources are reported on a 70% First Majestic attributable basis.Mineral Resource estimates were supervised or reviewed by David Rowe, CPG, an employee of First Majestic and the "Qualified Person" (as such term is defined in NI 43-101) responsible for the above Mineral Resource estimates. AgEq grade is estimated considering metal price assumptions, metallurgical recovery for the corresponding mineral type/mineral process and the metal payable of the corresponding contract of each mine. Estimation details are listed in the description of each mine set out in the 2025 AIF.Metal prices considered for all Mineral Resource estimates were $38.50/oz Ag, $3,400/oz Au, $1.05/lb Pb, $1.40/lb Zn and $4.75/lb Cu.The cut-off grades and cut-off values used to report Mineral Resources are different for all mines. The cut-off grades, values and economic parameters are listed in the applicable section describing each mine in the 2025 AIF.Mineral Resources are reported within mineable stope or open pit shapes from the cut-off values calculated using the stated metal prices and metal recoveries in the description of each mine set out in the 2025 AIF. The cut-off values include mill recoveries and payable metal factors appropriate to the existing processing circuit.No dilution was applied to the Mineral Resources which are reported on an in-situ basis.Tonnage is expressed in millions of tonnes; metal content is expressed in millions of ounces for silver, silver equivalent and gold and millions of pounds for copper, lead, and zinc. Totals may not add up due to rounding.Measured and Indicated Mineral Resources are reported inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The technical reports from which the above-mentioned information is derived are cited under the heading "Scientific and Technical Information - Technical Reports for Material Properties" in the 2025 AIF.First Majestic's drilling programs follow established quality assurance and quality control ("QA/QC") protocols, including the routine insertion of certified reference standards, blanks, and duplicate samples. Drill core is geologically logged and cut in half, with one half submitted for laboratory analysis and the remaining half retained on site for verification, reference, or future metallurgical testing. Core samples were analyzed using industry standard fire assay and atomic absorption analytical methods, with gravimetric finishes applied to over limit results. QA/QC results are routinely reviewed by site and corporate technical personnel and demonstrate acceptable accuracy and precision. The Qualified Persons are of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable for the purposes of the Mineral Resource and Mineral Reserve estimates disclosed herein.For further information regarding QA/QC and data verification procedures, key assumptions, parameters, and methods used to estimate Mineral Resources and Mineral Reserves, and a discussion of known risks that could materially affect the Company's business and the potential development of Mineral Resources and Mineral Reserves, refer to the sections entitled "General Development of the Business - Material Mineral Properties" and "Risk Factors" in the 2025 AIF for the year ended December 31, 2025.The Company also announces that it has filed its 2025 AIF under its profile on SEDAR+ (available at www.sedarplus.ca), and it has filed its Annual Report on Form 40-F report with the United States Securities and Exchange Commission under its profile on EDGAR (available at www.sec.gov/edgar). These documents are also available on the Company's website at www.firstmajestic.com.Shareholders may also receive a copy of First Majestic's Annual Report which includes the Company's audited financial statements for the year ended December 31, 2025, without charge, upon written request to First Majestic, Suite 1800 - 925 West Georgia Street, Vancouver, British Columbia V6C 3L2, Canada, or by e-mail to info@firstmajestic.com.QUALIFIED PERSONSScientific and technical disclosure for the material properties is based on technical reports prepared in accordance with NI 43-101 (collectively, the "Technical Reports"). The Technical Reports have been filed on SEDAR+ at www.sedarplus.ca, and are also available of the Company's website at www.firstmajestic.com. The technical information has been updated with more current information where appropriate.Gonzalo Mercado, P.Geo., the Company's Vice-President of Exploration & Technical Services, has reviewed and approved the scientific and technical information contained in this news release and has verified the underlying data. Mineral Resource estimates set out in this news release were prepared under the supervision of, or were reviewed by, David Rowe, CPG, the Company's Director of Mineral Development. Mineral Reserve estimates set out in this news release were prepared under the supervision of, or were reviewed by, Andrew Pocock, P.Eng., the Company's Director, Technical Services. Messrs. Mercado, Rowe and Pocock are each a "Qualified Person" as defined under NI 43-101.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine located in northeastern Nevada, U.S.A.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEOCautionary Note Regarding Forward Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "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".Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. Although the Company has attempted to identify important factors that could cause actual results 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.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.Cautionary Note to United States InvestorsThe Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.________________________
1 See the tables under the heading "Mineral Reserve and Mineral Resource Summary" for details regarding the grade/quality and quantity for the various categories of Mineral Reserves and Mineral Resources set out in this news release.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290748
Original: First Majestic Announces 2025 Mineral Reserve and Mineral Resource Estimates

First Majestic Announces Results of the 2025 Drilling Program at Jerritt Canyon Gold MineMarch 10, 2026 5:09 PM
NewsfileExploration drilling results underscore the potential for further Mineral Resource expansionVancouver, British Columbia--(Newsfile Corp. - March 10, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the results of a successful 2025 exploration program at its Jerritt Canyon Gold Mine ("Jerritt Canyon") located in Nevada, USA, including the Mahala, Javelin, and Saval targets within the Smith-SSX-Saval mining area. The Company believes these results underscore the potential for expanding gold Mineral Resources at Jerritt Canyon to include both open-pit and underground resources."The success of our 2025 drilling program at Jerritt Canyon reaffirms our confidence in the potential of this district," said Keith Neumeyer, CEO of First Majestic. "With the improved metal price environment, our team has expanded its focus to test both known underground targets as well as open-pit opportunities, which have yielded encouraging results. The results of the 2025 exploration program further highlight the potential for Mineral Resource growth. Jerritt Canyon hosts a significant district-scale land package of more than 30,000 hectares, and we have always believed that unlocking the district's full potential requires continued investment in exploration. The results from our 2025 drill program represent an important step toward that vision."2025 EXPLORATION HIGHLIGHTSIn 2025, First Majestic completed an extensive drilling campaign at Jerritt Canyon totalling approximately 18,300 metres ("m") across 57 drill holes. The program was strategically designed to explore for new gold mineralized zones beneath non-favourable "cover" rocks, as well as to assess the continuity of known mineralization beyond the boundaries of existing Inferred Mineral Resources along established geological trends. Targets included areas that have deeper underground and/or near-surface open pit potential.Given the property's history of both open pit and underground mining, the 2025 drilling results highlight the potential for Mineral Resources amenable to both mining methods: significant underground intercepts are defined by a minimum length of 4.6 m and a gold ("Au") cut-off grade of 1.13 g/t, while significant open pit intercepts require at least 9.1 m and 0.43 g/t Au cut-off grade (see footnotes in the intercept tables for further criteria).KEY DRILLING HIGHLIGHTSTable 1 presents a selection of drill hole intercepts with significant assay results from the 2025 drill program at Jerritt Canyon, and Figure 1 highlights the areas with significant gold drilling intercepts across the district.Table 1: Selection of Significant Gold Drill Hole Intercept Highlights from the 2025 Jerritt Canyon Drill ProgramDrillholeTargetSignificant InterceptFrom
(m)To
(m)Drilled Length
(m)Metal GradesMA-25-017Mahala/Javelin294.1318.524.43.43 g/t AuMA-25-008Mahala/Javelin137.2144.87.69.43 g/t Au MA-25-009Mahala/Javelin141.716018.32.23 g/t AuMA-25-008Mahala/Javelin161.5179.818.32.19 g/t AuSC-25-003Saval195.1246.951.81.48 g/t Au Note: True Width is currently unknown due to the uncertain nature of mineralization orientation; however, given the mainly sub-horizontal, stratigraphic controls, and near vertical drilling from surface, True Width is not expected to differ materially from Drilled Length. Figure 1: Jerritt Canyon District Map Highlighting Areas with Significant Gold Drilling InterceptsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/288026_b02e2270c4474900_002full.jpgMahala to Javelin - Expansion CorridorThe Mahala and Javelin targets are situated between the Smith and SSX underground mines. See Figure 2 below identifying the Area of Interest ("AOI"). Mahala is one of the district's larger known Inferred Mineral Resource areas, and there is modeled geological continuity between Mahala and Javelin. In 2023, drilling at Javelin produced several significant intercepts including 8.76 g/t Au over 15.2 m (hole SMI-230011) and 7.44 g/t Au over 15.7 m (hole SMI-230013), as reported in 2024 (see the Company's news release dated February 7, 2024). A detailed review completed in early 2025 identified expansion potential for both targets within an area of approximately 600 m by 600 m. The review also highlighted possible increases in the interpreted thickness of the Javelin gold mineralization. Figure 2: Saval / SSX / Mahala / Javelin / Smith Location MapTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/288026_b02e2270c4474900_003full.jpgJavelin A review of the Javelin target revealed that previous drilling, which was carried out from underground, intersected the mineralization at angles that were nearly parallel to the mineralization controls. Consequently, the true thickness of mineralization was not accurately determined, suggesting the potential for volume upside in resource estimation. The 2025 drill program tested the target from surface, allowing for drill-holes oriented at near sub-perpendicular angles to the interpreted gold mineral trend. Drill-hole MA-25-008, the first hole completed in the program, returned geological and assay results indicating that the gold zone of interest is thicker than previously modeled. Based on these results, three additional step-out holes were completed to test lateral continuity: MA-25-009 targeted northwesterly continuity, MA-25-010 tested southerly continuity, and MA-25-011 tested southeasterly continuity. All holes, except for MA-25-010, intersected significant intervals of gold mineralization, supporting the interpreted continuity of the system. See a plan view in Figure 3 and cross section in Figure 4 below, showing the results of the program. Figure 3: Mahala / Javelin Corridor Planview with A to A' and B to B' Cross Section LocationsTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/288026_b02e2270c4474900_004full.jpgFigure 4: Javelin A to A' Cross Section with 2025 Drilling (See Figure 3 with Cross Section Definition). Section projection is +/- 100 mTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/288026_b02e2270c4474900_005full.jpgMahala The review of the Mahala target indicates that the previously defined AOI has the potential to expand along projected gold mineralized trends. The currently defined Mahala resources are modeled predominantly below the interpreted water table; however, geological modelling identified potential for mineralization to extend eastward where the stratigraphy rises above the known water table. Two drill-holes were completed to test this expansion potential to the east toward the Javelin target and to the north. Drill-hole MA-25-017, collared approximately 200 m east of the known Mahala resource boundary, intersected broad disseminated mineralization of 47.2 m grading 2.75 g/t Au, including two separate high-grade intercepts of 24.4 m at 3.44 g/t Au and 10.7 m at 3.17 g/t Au (see Figure 5 below showing cross-section details). These results indicate that Mahala gold mineralization remains open to the east in the direction of the Javelin target.Figure 5: Mahala / Javelin B to B' Cross Section (See Figure 3 with Cross Section Definition). Section Projection +/- 100 mTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/288026_b02e2270c4474900_006full.jpgSaval Historical Open Pit TargetAn additional near-mine AOI focused on shallow mineralization in the vicinity of the historical Saval open pits. The deposit is characterized by structurally controlled, stratigraphically bound Carlin-style mineralization. See Figure 6 below showing the AOI with the location of the 2025 drill holes.This geological setting is associated with broad, low to high-grade, sub-horizontal mineralized zones, which are amenable to near-surface open pit mining methods. A targeted review around the previously mined Saval open pits identified gaps in historical drilling coverage along interpreted mineralized trends.The 2025 drill program tested the potential for near-surface mineralization within these open trends and evaluated opportunities for expansion adjacent to the historical workings. Several drill-holes completed at the West Saval Historical Open Pit AOI intersected shallow, broad intervals of lower-grade gold mineralization.Figure 6: Saval Historical Pit to SSX Gridiron Corridor Planview, with Cross-section line A-A'To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/288026_b02e2270c4474900_007full.jpgAt the East Saval Historical Open Pit AOI, drill-hole SC-25-003 intersected a significant interval of 51.8 m grading 1.48 g/t Au, including a higher-grade intercept of 12.2 m at 3.23 g/t Au. The geological continuity of this intercept remains uncertain at this stage. Mineralization may represent a linkage to the underground SSX Gridiron target, or alternatively, an eastward extension of the Saval mineralized trend. See Figure 7 below for a cross section of the results. Further drilling will be required to better constrain the geometry and continuity of this zone.Figure 7 - East Saval Cross-Section (See Figure 6 for Cross-Section Definition). Section thickness +/- 50 mTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1475/288026_b02e2270c4474900_008full.jpgTable 2: Summary of Significant Underground Potential Gold Drill Hole Intercepts at Jerritt Canyon Drillhole Target Target Type Significant Intercept From
(m) To
(m) Interval Length
(m) Au
 (g/t)GH-25-001BoilermakerDrill Testing128.0132.64.61.37GH-25-003BoilermakerDrill Testing144.8149.44.61.66GH-25-005MurrayDrill Testing114.3118.94.61.75GH-25-005 (2)MurrayDrill Testing131.1141.710.71.83GR-25-003MurrayDrill Testing332.2336.84.64.56GR-25-003 (inc)MurrayDrill Testing333.8335.31.512.30MA-25-002BlackjackDrill Testing265.2269.84.61.66MA-25-002 (2)BlackjackDrill Testing281.9292.610.71.62MA-25-008JavelinDrill Testing120.4125.04.62.11MA-25-008 (2)JavelinDrill Testing137.2144.87.69.43MA-25-008 (inc)JavelinDrill Testing138.7143.34.612.60MA-25-008 (3)JavelinDrill Testing161.5179.818.32.19MA-25-008 (4)JavelinDrill Testing182.9196.613.72.07MA-25-009JavelinDrill Testing147.8166.118.32.23MA-25-009 (2)JavelinDrill Testing178.3182.94.61.47MA-25-009 (3)JavelinDrill Testing193.5198.14.62.90MA-25-011JavelinDrill Testing158.5164.66.13.93MA-25-011 (2)JavelinDrill Testing169.2173.74.61.78MA-25-017SSX MahalaDrill Testing294.1318.524.43.44MA-25-017 (2)SSX MahalaDrill Testing324.6335.310.73.17MA-25-017 (3)SSX MahalaDrill Testing347.5352.04.61.95US-25-002USBDrill Testing222.5228.66.11.66US-25-003USBDrill Testing167.6175.37.61.88WW-25-001MurrayDrill Testing281.9289.67.61.34WC-25-004Winter's CreekDrill Testing117.3125.07.76.25WC-25-004 (inc)Winter's CreekDrill Testing120.4123.43.011.85SC-25-003Saval ExpansionDrill Testing211.8219.57.61.88SC-25-003 (2)Saval ExpansionDrill Testing228.6240.812.23.23 Notes: All holes are Reverse Circulation ("RC").From and To length indicated in metres, true width of the intercept is not known at this time.See Appendix to this news release for details regarding drill hole locations, sample type, azimuth, dip and total depth.Gold drill hole significant intercepts were composited using the length weighted averages of uncapped sample assays, a 1.13 g/t Au minimum cut-off grade ("COG"); minimum composite length of 4.6 m (drilled width). A maximum of 4.6 m below the minimum COG was allowed as internal dilution. Where necessary to achieve minimum length, a single sample below the COG was allowed to be composited for short intervals.Where present, single samples or intercepts with assay results higher than 10 g/t Au are highlighted as "Include" in each intercept.Table 3: Summary of Significant Open Pit Potential Gold Drill Hole Intercepts at Jerritt Canyon  Drillhole Target Target Type  Significant Intercept From
(m)  To
(m)  Interval Length
(m)Au
(g/t)  GH-25-003BoilermakerDrill Testing155.4169.213.70.84GH-25-005MurrayDrill Testing131.1141.710.71.83MA-25-002BlackjackDrill Testing262.1292.630.51.13MA-25-004BlackjackDrill Testing271.3285.013.70.49MA-25-005HadesDrill Testing271.3281.910.70.55MA-25-008JavelinDrill Testing120.4129.59.11.41MA-25-008 (2)JavelinDrill Testing135.6153.918.34.26MA-25-008 (2 inc)JavelinDrill Testing137.2144.87.69.43MA-25-008 (3)JavelinDrill Testing157.0204.247.21.66MA-25-009JavelinDrill Testing143.3167.624.41.85MA-25-009 (2)JavelinDrill Testing175.3185.910.71.09MA-25-009 (3)JavelinDrill Testing193.5207.313.71.43MA-25-011JavelinDrill Testing158.5173.715.22.14MA-25-017SSX MahalaDrill Testing289.6336.847.22.75MA-25-017 (inc)SSX MahalaDrill Testing303.3307.94.65.32US-25-002USBDrill Testing219.5239.319.80.94US-25-003USBDrill Testing167.6184.416.81.14WW-25-001MurrayDrill Testing281.9294.112.20.99WC-25-004Winter's CreekDrill Testing117.4126.59.15.25WC-25-004 (inc)Winter's CreekDrill Testing118.9123.44.68.76SC-25-003Saval ExpansionDrill Testing195.1246.951.81.48SC-25-007Saval ExpansionDrill Testing132.6141.79.10.80SC-25-008Saval ExpansionDrill Testing106.7118.912.20.81SC-25-013Saval ExpansionDrill Testing144.8155.410.70.63SC-25-014Saval ExpansionDrill Testing103.6114.310.70.46SC-25-014 (2)Saval ExpansionDrill Testing120.4129.59.10.49SC-25-016Saval ExpansionDrill Testing214.9228.613.70.57 Notes: All drill holes were Reverse Circulation.From and To length indicated in metres, true width of the intercept is not known at this time.See Appendix to this news release for details regarding drill hole locations, sample type, azimuth, dip and total depth.Gold drill hole significant intercepts were composited using the length weighted averages of uncapped sample assays, a 0.43 g/t Au minimum cut-off grade ("COG"); minimum composite length of 9.1 m (drilled width). A maximum of 4.6 m below the minimum COG was allowed as internal dilution. Where necessary to achieve minimum length, a single sample below the COG was allowed to be composited for short intervals.Where present, single samples or intercepts with intervals of 4.6 m or greater with more than 5.0 g/t Au are highlighted as "Include" in each intercept.Intervals starting at depths under 300 m are considered suitable for potential Open Pit significant intercepts.First Majestic's 2025 drilling programs at Jerritt Canyon followed established Quality Assurance, Quality Control ("QA/QC") insertion protocols with standards, blanks and duplicates introduced into the sample-stream. All RC drill-hole samples were placed in bags labeled with the hole ID, sample ID, and sample interval, and submitted to Bureau Veritas Minerals Laboratories (BV) (ISO/IEC 17025:2017) in Sparks, Nevada. At BV, samples were dried, crushed to 70% passing a 2 mm mesh and pulverized to 85% passing a 75 µm mesh. Gold was analyzed by lead collection Fire Assay fusion AAS finish (FA430). Results above 10 g/t Au were analyzed by 30 g lead collection Fire Assay fusion gravimetric finish (FA530).For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recently filed Annual Information Form available under the Company's SEDAR+ profile at www.sedarplus.ca and the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.QUALIFIED PERSONSGonzalo Mercado, P. Geo., the Company's Vice-President, Exploration & Technical Services and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine located in northeastern Nevada, U.S.A.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEOCautionary Note Regarding Forward-Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Forward-looking statements in this news release include but are not limited to statements with respect to: the potential to expand Mineral Resources at Jerritt Canyon; and the potential to develop open-pit Mineral Resources in addition to underground Mineral Resources. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions, or expectations upon which they are placed will occur. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "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". Statements concerning Mineral Resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of Measured and Indicated Mineral Resources, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited. Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes; general economic conditions including inflation risks; labour relations; relations with local communities; changes in national or local governments; exchange rate fluctuations; environmental risks; requirements for additional capital; outcomes of pending litigation; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations as well as those factors discussed in the section entitled "Description of Business - Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca and in the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar. Although the Company has attempted to identify important factors that could cause actual results 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.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.Cautionary Note to United States InvestorsThe Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.APPENDIX - DRILL HOLE DETAILSTable A1: Drill Hole Collar Location, Sample Type, Azimuth, Dip and Total Depth from Jerritt CanyonDrillholeActual EastActual NorthActual ElevAzimuthDipDepth (m)TypeBI-25-001386096.3416794.36669.1195-77690.37RCBI-25-002387824.4417198.96991.10-83580.64RCGH-25-001383196.0422295.66794.375-70214.88RCGH-25-002383178.9422287.06793.7185-60214.88RCGH-25-003383438.0422590.06894.4284-70213.36RCGH-25-004383182.9422299.56794.4140-65204.22RCGR-25-001383568.9419066.66945.1295-78486.16RCGR-25-002382568.8421224.37121.0270-85393.19RCGR-25-003382586.0421218.17120.665-70393.19RCGH-25-005383574.4421994.96757.975-65188.98RCMA-25-002396207.1406981.67632.5300-80304.80RCMA-25-003396210.0406980.47632.745-84336.80RCMA-25-004396507.9407028.87636.1325-85307.85RCMA-25-005395522.2406401.07846.8260-77457.20RCMA-25-006395889.5405302.67647.930-55502.92RCMA-25-007396498.8407016.77636.0240-58457.20RCMA-25-008398056.9405355.57245.6300-85364.24RCMA-25-009398067.3405349.37245.4320-62274.32RCMA-25-010398056.6405332.17245.8190-65277.37RCMA-25-011398518.7405073.77228.630-85243.84RCMA-25-012398801.3404293.57222.440-70393.19RCMA-25-013398797.8404275.47222.2125-60350.52RCMA-25-015398002.6404467.07224.5165-75458.72RCMA-25-016397138.1404139.17466.40-80518.16RCMA-25-017396563.2405482.07498.3140-60457.20RCMA-25-018400693.7403271.97309.10-90763.52RCSC-25-001391874.7408316.28108.8230-68265.18RCUS-25-001394990.7408875.67906.4120-65344.42RCUS-25-002392487.6407722.58057.7170-72365.76RCUS-25-003392580.3407987.88005.15-75381.00RCUS-25-004393506.0409508.17847.4160-55434.34RCUS-25-005393506.8409515.97847.0110-55335.28RCUS-25-006394988.5408864.17906.4165-60338.33RCWW-25-001378310.2421349.26696.7150-60457.20RCWC-25-001394900.3427948.57621.5325-75213.36RCWC-25-002394890.6427922.77621.6150-75184.40RCWC-25-003394166.1427789.97640.3100-60245.36RCWC-25-004394169.2427806.27639.910-65178.31RCWC-25-005393816.9428700.67420.5320-60213.36RCWC-25-006393820.5428674.17422.5145-6027.43RCWC-25-006A393825.6428667.67422.9145-60137.16RCWC-25-007394141.9428649.67440.90-90185.93RCWC-25-008394146.6428649.97440.885-65216.41RCSC-25-002391233.7408578.77766.220-60289.56RCSC-25-003391251.7408583.47765.465-55274.32RCSC-25-004391415.9410013.07746.1230-65335.28RCSC-25-006387297.2408808.57584.8110-55239.27RCSC-25-007387271.4408423.17619.6320-55213.36RCSC-25-008387270.2408413.67620.6290-57243.84RCSC-25-009391421.8410017.17746.0245-70243.84RCSC-25-010391427.5410008.37746.1200-65335.28RCSC-25-011391369.4409282.17755.6210-70274.32RCSC-25-012387277.3408805.67583.4140-70243.84RCSC-25-013387300.8408819.77583.980-70243.84RCSC-25-014387296.0408835.07582.650-70243.84RCSC-25-016387943.0408150.07672.635055274.32RCSC-25-017387961.7408137.97674.125-55266.70RC Notes:All drill hole collar coordinates are determined using total station equipment after hole completion with UTM WGS84, Zone 13 (metres) as the reference system. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288026
Original: First Majestic Announces Results of the 2025 Drilling Program at Jerritt Canyon Gold Mine

First Majestic Doubles Dividend, Eyes Growth to 50M Ounces | Keith Neumeyer



Weekly Chart
https://schrts.co/yWzdijzE

#AG : Yes Kitty....Something is going on...

We are all waiting for the explosive bull market to kick off in the commodity juniors.

Rick Rule lays out how and when this will happen 👇 pic.twitter.com/isUmfVCwk3— TheGladiator (@TheGladiatorHC) February 19, 2026

#AG: $23'''ssss going fast....

#AG: Looking for $200 SILVER in September 2026

$AG : We are all waiting for the explosive bull market to kick off in the commodity juniors.

Rick Rule lays out how and when this will happen 👇 pic.twitter.com/isUmfVCwk3— TheGladiator (@TheGladiatorHC) February 19, 2026

#AG: Hey Joe.... Looks like you are right again...

#AG: Looking for $120... just wait...!

https://www.otcmarkets.com/stock/AG/overview

#AG: WoW...What a year 2025 ...... $22.23 Can it get any better....-)

https://www.firstmajestic.com/investors/reports-filings/

https://firstmint.com/

First Majestic Reports Q4 2025 and Full Year 2025 Financial Results; Announces Quarterly Dividend PaymentFebruary 19, 2026 7:00 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - February 19, 2026) - First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the Company's audited consolidated financial results for the fourth quarter and year end ended December 31, 2025. The full version of the annual financial statements and the accompanying management's discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. All amounts are in U.S. dollars unless stated otherwise.FOURTH QUARTER HIGHLIGHTSRecord Quarterly Silver Production (+77% Y/Y): The Company achieved record quarterly silver production by producing 4.2 million silver ounces ("oz") in Q4 2025, a 77% increase when compared to 2.4 million silver ounces produced in Q4 2024.Record Quarterly Revenue (+169% Y/Y): For a fourth consecutive quarter, the Company achieved record quarterly revenue of $463.9 million (with 60% of revenue from silver), a 169% increase compared to $172.3 million in revenue in Q4 2024. Total revenue for the quarter excluded 463,156 oz of silver and 2,808 oz of gold that were held in inventory at the end of the quarter, with a fair value of $45.3 million.Record Cash Flow from Operations (+$238.5 million Y/Y): Operating cash flow before changes in working capital and taxes in the quarter was a record $301.0 million or $0.61 per share, a significant increase compared to $62.4 million or $0.21 per share in the fourth quarter of 2024.Record Earnings Before Income Tax, Depreciation and Amortization ("EBITDA") (+$276.8 million Y/Y): EBITDA for the quarter was a record $338.8 million, a significant increase compared to $62.0 million in the fourth quarter of 2024.Net Earnings (+$118.7 million Y/Y): Net earnings for the quarter were $105.2 million (earnings per share ("EPS") of $0.17) compared to a net loss of $13.5 million (EPS of ($0.04)) in the fourth quarter of 2024. Net earnings did not include $41.9 million in unrealized gains from the Company's portfolio of marketable securities, which are included within Other Comprehensive Income.Record Adjusted Net Earnings (+$136.8 million Y/Y): Adjusted net earnings, excluding non-cash or non-recurring items such as an impairment reversal, unrealized gains on marketable securities, a gain on debt settlement of senior convertible notes, a tax provision related to PEM, share-based payments and deferred income tax, was $144.4 million (adjusted EPS of $0.30), compared to an adjusted net earnings of $7.6 million (adjusted EPS of $0.03) in the fourth quarter of 2024.Record Free Cash Flow (+$182.0 million Y/Y): The Company generated a quarterly record of $250.4 million in free cash flow in Q4 2025 compared to $68.4 million in free cash flow in the fourth quarter of 2024.Record Quarter at First Mint (+$13.6 million Y/Y): First Mint, LLC, the Company's 100%-owned minting facility, generated record quarterly sales of $22.7 million compared to $9.1 million in the fourth quarter of 2024, including record monthly sales in December 2025. The average realized silver price for Q4 2025 was $69.74 per ounce, representing a 127% increase compared to $30.76 per ounce in Q4 2024 and a 26% premium to the Q4 2025 COMEX average silver price of $55.20 per ounce.Fourth Quarter Dividend: The Company declared a cash dividend of $0.0083 per common share for the fourth quarter of 2025 for shareholders of record as of the close of business on February 27, 2026, which will be paid out on or about March 16, 2026.2025 HIGHLIGHTSMet Upwardly Revised Production Guidance: The Company met or exceeded both its original and July 2025 upwardly revised production guidance with full year 2025 production of 31.1 million silver equivalent oz (32.3 million AgEq oz using updated 2025 guidance assumptions for metal prices) (guidance range: 30.6 - 32.6 million AgEq oz), including 15.4 million oz of silver (guidance range: 14.8 - 15.8 million oz), 147,433 oz of gold (guidance range: 135,000 - 144,000 oz), 56.7 million lbs of zinc (guidance range: 52 - 56 million lbs) and 32.3 million lbs of lead (guidance range: 33 - 35 million lbs). Record Annual Silver Production: The Company produced a record 15.4 million oz of silver in 2025, representing an 84% increase compared to 8.4 million ounces in 2024. The significant jump in silver production can be attributed to the acquisition of the Los Gatos Silver Mine, as well as a 19% increase in production at San Dimas and an 18% increase in production at La Encantada.Record Treasury Position: The Company ended the year with a record $937.7 million cash in treasury, representing a significant increase compared to $308.3 million at the end of 2024, and the highest treasury position in the Company's history. Record Annual Revenue: The Company generated record revenue of $1,257.2 million in 2025, a 124% increase compared to $560.6 million in 2024. The significant revenue growth in 2025, compared to 2024, was driven by a 47% higher average realized silver price of $41.52 per AgEq oz, increasing revenues by $399.7 million, and a 50% increase in the total number of payable AgEq oz sold. Record Revenues and Operating Earnings at First Mint: First Mint total revenues for 2025 were a record $49.4 million, a significant increase compared to revenues of $16.0 million in 2024. First Mint's operating earnings for the year totaled $24.1 million compared to $4.8 million in 2024.Sustainability Practices Recognized: In 2025, the Company achieved a 30.0 ESG risk rating with Sustainalytics, a leading sustainability research and ratings firm. This score places First Majestic in the Medium risk category, and in the top 40% within the precious metals industry, for the first time in the history of Sustainalytics' coverage of the Company, reflecting strong environmental and social risk management practices.Acquisition of Gatos Silver, Inc.: On January 16, 2025, the Company completed the acquisition of Gatos Silver, Inc. adding a 70% joint venture interest in the Los Gatos underground silver mine in Chihuahua, Mexico to its portfolio of assets. The Los Gatos operation was successfully integrated into First Majestic's existing portfolio in 2025.FOURTH QUARTER OPERATIONAL AND FINANCIAL RESULTSThe Company produced 7.8 million AgEq oz in the fourth quarter (8.9 million using 2025 guidance metal prices), a 37% increase compared to 5.7 million AgEq oz produced in the fourth quarter of 2024. This growth was primarily driven by a 77% increase in attributable consolidated silver production, including contributions from Los Gatos, as well as a 10% production increase at San Dimas. The Company generated record quarterly revenue of $463.9 million in the fourth quarter of 2025, with 60% derived from silver sales, representing a 169% increase compared to $172.3 million of revenue generated in the fourth quarter of 2024. The significant revenue growth was primarily attributable to a 39% increase in payable AgEq ounces sold, mainly driven by: the addition of the Los Gatos Silver Mine to the Company's portfolio of operating mines, which contributed $187.4 million in revenue; a notable 10% production increase at San Dimas, which contributed $105.2 million in revenue (2024 - $56.1 million); and continued strong performance at Santa Elena, which contributed $116.8 million in revenue (2024 - $86.2 million). Revenue growth was further supported by a higher average realized silver price of $58.96 per AgEq ounce, representing a 91% increase compared to the fourth quarter of 2024.The Company achieved record quarterly mine operating earnings of $237.8 million, a significant increase of $189.6 million compared to mine operating earnings of $48.2 million in the fourth quarter of 2024. The increase was driven by the addition of the Los Gatos Silver Mine, which contributed $106.8 million in mine operating earnings in the fourth quarter. Additionally, continued operational improvement at San Dimas resulted in a higher contribution to mine operating earnings of $40.2 million compared to earnings of $3.1 million in the fourth quarter of 2024, as well as positive contributions from Santa Elena and La Encantada. Mine operating earnings were partially offset by a higher non-cash depletion expense, primarily driven by the addition of the Los Gatos Silver Mine and increased overall production. Excluding non-cash depletion, depreciation and amortization expense, the Company generated mine operating earnings of $310.2 million.Operating cash flow before changes in working capital and taxes paid in the quarter was a record $301.0 million or $0.61 per share, a significant increase compared to $62.4 million or $0.21 per share in the fourth quarter of 2024. This improvement was primarily driven by mine operating earnings, excluding depletion, depreciation and amortization, of $310.2 million, as a result of strong performances at San Dimas and Los Gatos. Capital Expenditures: The Company's attributable capital expenditures in the fourth quarter were $48.2 million ($53.8 million on a 100% basis), representing a 33% increase compared to $36.1 million in total capital expenditures in the fourth quarter of 2024 driven by the addition of the Los Gatos Silver Mine, along with the Company's continued focus on growth and mine development in line with its updated 2025 guidance. Total attributable capital expenditures consisted of $21.6 million in property, plant and equipment ("PP&E") (2024 - $10.7 million), $13.5 million in underground development (2024 - $13.6 million), and $13.2 million in exploration (2024 - $11.9 million). On a 100% basis, these amounts totaled $24.1 million, $15.6 million, and $14.1 million relating to PP&E, underground development, and exploration, respectively.Cash costs per attributable payable AgEq oz for the quarter were $16.66, a 21% increase when compared with $13.82 per oz in the fourth quarter of 2024. Despite continued operational efficiencies and the significant increase in production compared to the fourth quarter of 2024, AgEq oz were impacted by a rising commodity price environment that compressed the gold-to-silver ratio, which reduced reported AgEq oz by approximately 1.1 million oz compared to guidance assumptions, negatively impacting costs per AgEq oz. Consolidated AISC in the quarter was $23.48 per AgEq ounce, a 15% increase from $20.34 per AgEq ounce in the fourth quarter of 2024. Applying the 2025 guidance assumptions for metal prices and the USD/MXN exchange rate, Q4 2025 AISC would have been $20.05 per AgEq ounce.The table below represents the Company's consolidated fourth quarter operational and financial highlights for the fourth quarter.Key Performance Metrics 2025-Q4
2025-Q3Change
Q4 vs Q3 2024-Q4Change
Q4 vs Q4Operational (1) 
 

 

Ore Processed / Tonnes Milled 1,058,276 997,0026% 745,12442%Silver Ounces Produced 4,165,334 3,863,6738% 2,353,86577%Gold Ounces Produced 41,417 35,68116% 39,5065%Silver Equivalent Ounces Produced 7,845,686 7,651,0583% 5,713,28937%Cash Costs per Silver Equivalent Ounce (2) $16.66 $14.8312% $13.8221%All-in Sustaining Cost per Silver Equivalent Ounce (2) $23.48 $20.9012% $20.3415%Total Production Cost per Tonne (2) $103.07 $102.531% $96.637%Average Realized Silver Price per Silver Equivalent Ounce (2) $58.96 $39.0351% $30.8091%Financial (in $millions) 
 

 

Revenues $463.9 $285.163% $172.3169%Mine Operating Earnings $237.8 $99.1140% $48.2NMNet Earnings (Loss) $105.2 $43.0145% ($13.5)NMOperating Cash Flows before Non-Cash Working Capital and Taxes $301.0 $141.3113% $62.4NMCapital Expenditures $53.8 $52.13% $36.149%Cash and Cash Equivalents $793.4 $435.482% $202.2NMRestricted Cash $144.3 $133.48% $106.136%Working Capital (2) $733.6 $542.435% $224.5NMEBITDA (2) $338.8 $128.3163% $62.0NMAdjusted EBITDA (2) $305.4 $125.3120% $64.8NMFree Cash Flow (2) $250.4 $98.8153% $68.4NMShareholders 
 

 

EPS - Basic & Diluted $0.17 $0.06183% ($0.04)NMAdjusted EPS (2)  $0.30 $0.07NM $0.03NM NM - Not meaningfulOperational metrics calculated in the table above are reported on an attributable basis to account for the Company's 70% ownership of the Los Gatos Joint Venture that owns the Los Gatos Silver Mine. The Company reports certain non-GAAP measures which include cash costs per AgEq ounce produced, cash costs per Au ounce produced, AISC per AgEq ounce produced, all-in sustaining cost per Au ounce produced, total production cost per tonne, average realized silver price per AgEq ounce sold, average realized Au price per ounce sold, working capital, adjusted EPS, EBITDA, adjusted EBITDA, and free cash flow. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate such measures may differ from methods used by other companies with similar descriptions. See "Non-GAAP Financial Measures" at the end of this news release for further details of these measures.  The table below represents the quarterly operating and cost performance results at each of the Company's four producing mines and the Jerritt Canyon Gold Project during the quarter.Fourth Quarter
Production SummaryLos Gatos (1)(4)San DimasSanta ElenaLa EncantadaJerritt Canyon (3)ConsolidatedOre Processed / Tonnes Milled226,900243,807283,721303,848-1,058,276Silver Ounces Produced1,491,2351,315,711358,1851,000,203-4,165,334Gold Ounces Produced (3)89415,06625,0833234241,417Silver Equivalent Ounces Produced (3)2,091,6212,449,1622,279,3971,002,72522,7817,845,686Cash Costs per Silver Equivalent Ounce (2) $16.12$16.25$15.97$19.72NM$16.66All-in Sustaining Cost per Silver Equivalent Ounce (2) $18.81$21.62$19.44$25.95NM$23.48Total Production Cost per Tonne (2)$103.74$153.97$102.65$62.11N/A$103.07 NM - Not meaningfulAll production and non-GAAP results shown in the table above are reported on an attributable basis, meaning they reflect only the portion of results corresponding to the Company's 70% ownership of the Los Gatos Joint Venture that owns the Los Gatos Silver Mine. These measures do not have a standardized meaning under the Company's financial reporting framework and the methods used the Company to calculate these measures may differ from methods used by other companies with similar descriptions. Jerritt Canyon was placed on temporary suspension in March 2023. In-circuit recovery efforts performed in Q4 2025 resulted in the production of 342 gold ounces or 22,781 AgEq ounces at Jerritt Canyon.AgEq ounces for the Los Gatos Silver Mine include 14,238,927 lbs zinc, 8,108,949 lbs lead and 235,886 lbs copper (70% attributable basis).2025 OPERATIONAL AND FINANCIAL RESULTSDuring the year, the Company recognized record mine operating earnings of $450.0 million, a significant increase compared to $91.9 million in 2024. The increase was driven by a higher average realized silver price per AgEq oz compared to 2024, the addition of Los Gatos to the Company's production portfolio, which contributed $203.4 million in mine operating earnings in the year, as well as continued operational improvements at San Dimas and La Encantada. Operating cash flow before changes in working capital and taxes in the year was a record $667.2 million or $1.39 per share, a significant increase compared to $138.6 million or $0.47 per share in 2024. EBITDA for the year ended December 31, 2025, was a record $686.1 million, a significant improvement compared to $127.1 million in 2024. The increase in EBITDA was primarily attributable to improved mine operating earnings in 2025 as compared to 2024, along with a gain on the reversal of impairment of $20.3 million following the announcement of the proposed sale of the Company's subsidiary that owns the Del Toro Silver Mine during the year.Adjusted EBITDA normalized for non-cash or non-recurring items such as an impairment reversal, unrealized gains on marketable securities, a gain on settlement of senior convertible notes, share-based payments, restructuring costs, acquisition costs and abnormal maintenance costs for the year ended December 31, 2025, was a record $679.1 million, a significant improvement compared to $143.8 million in 2024.Net earnings for the year were $211.0 million (EPS of $0.34), representing a significant increase compared to a net loss of $101.9 million (EPS of ($0.34)) in 2024. The increase in net earnings was primarily driven by the $358.1 million increase in mine operating earnings, a non-cash deferred income tax recovery of $89.1 million, and an impairment reversal of $20.3 million related to the agreed upon sale of the Del Toro Silver Mine. This was partially offset by a non-cash current income tax expense of $273.1 million, and a non-cash depletion and depreciation expense of $263.4 million, primarily driven by the addition of Los Gatos and higher production at La Encantada and San Dimas. Net earnings during the year did not include $126.8 million in gains from the portfolio of marketable securities, which are included within Other Comprehensive Income.Adjusted net earnings for the year were a record $216.0 million (Adjusted EPS of $0.46), compared to an adjusted net loss of $41.8 million (Adjusted EPS of ($0.14)) in 2024. Adjusted net earnings are normalized for non-cash or non-recurring items such as deferred income tax, an impairment reversal on the sale of the Del Toro Silver Mine, unrealized gains on marketable securities, a gain on settlement of senior convertible notes, share-based payments, a tax provision relating to PEM (Refer to Note 24 of the annual financial statements), restructuring costs, acquisition costs and abnormal maintenance costs. The Company's attributable capital expenditures in the year were $191.7 million ($212.8 million on a 100% basis), representing a 51% increase compared to $127.3 million in 2024 driven by the addition of the Los Gatos Silver Mine, along with the Company's continued focus on growth and mine development in line with its updated 2025 guidance. Total attributable capital expenditures consisted of $82.8 million for underground development (2024 - $54.2 million), $59.5 million in PP&E (2024 - $27.2 million) and $43.8 million in exploration (2024 - $46.0 million). On a 100% basis, these amounts were $92.5 million, $67.2 million, and $47.6 million relating to underground development, PP&E and exploration, respectively. Capital expenditures also included $5.0 million related to the investment in First Mining Gold Corp. following the entering into of the Amended Springpole Stream Agreement ($4.2 million related to capital expenditures), and $1.4 million related to corporate projects.Cash costs per AgEq ounce for the year were $15.07, a 2% increase compared to $14.80 per ounce in 2024. Applying the 2025 guidance assumptions for metal prices and the USD/MXN exchange rate, 2025 cash costs would have been $14.34 per AgEq ounce. While underlying operating performance improved in 2025, the higher cash cost per AgEq ounce was primarily influenced by the strong outperformance of silver prices relative to gold, lead, and zinc throughout 2025, which resulted in a lower AgEq conversion ratio for by-product metals. This lower AgEq ratio reduced the number of reported AgEq ounces attributed to by-product production, making cash costs per AgEq ounce appear higher despite strong performance and economic fundamentals. Additionally, higher metal prices and increasing production contributed to higher royalties and increased worker participation costs, causing an increase in cash costs. However, as a primary silver producer, this price environment is favourable and strengthens the Company's overall economics. AISC per AgEq ounce in the year was $21.17, a slight increase compared to $21.11 in 2024. The modest increase was mainly due to the impacts on cash costs as described above. This was partially offset by a decrease in corporate G&A expenses per AgEq ounce compared to 2024, reflecting restructuring efforts implemented to optimize the workforce and reduce labour costs. Applying the 2025 guidance assumptions for metal prices and the USD/MXN exchange rate, 2025 AISC would have been $20.19 per AgEq ounce.The table below represents the Company's consolidated 2025 annual operational and financial highlights.Key Performance Metrics 2025 20242023Change
'25 vs '24Operational 
 


Ore Processed / Tonnes Milled 4,003,457 2,686,7422,901,97249%Silver Ounces Produced 15,435,506 8,400,79610,250,75584%Gold Ounces Produced 147,433 156,542198,921(6%)Silver Equivalent ("AgEq") Ounces Produced 31,060,764 21,655,42726,874,41743%Cash Costs per Silver Equivalent Ounce (1) $15.07 $14.80$14.492%All-in Sustaining Cost per Silver Equivalent Ounce (1) $21.17 $21.11$20.160%Total Production Cost per Tonne (1) $102.02 $111.03$127.16(8%)Average Realized Silver Price per Ounce (1) $41.52 $28.26$23.2947%Financial (in $millions) 
 


Revenues $1,257.2 $560.6$573.8124%Mine Operating Earnings $450.0 $91.9$25.6NMEarnings before Income Taxes $395.0 ($26.5)($195.9)NMNet Earnings $211.0 ($101.9)($135.1)NMOperating Cash Flows before Working Capital and Taxes $667.2 $138.6$99.2NMCash and Cash Equivalents $793.4 $202.2$125.6NMWorking Capital (1) $733.6 $224.5$188.9NMEBITDA (1) $686.1 $127.1($41.8)NMAdjusted EBITDA (1) $679.1 $143.8$144.3NMFree Cash Flow (1) $470.6 $107.1($9.0)NMShareholders 
 


EPS - Basic & Diluted $0.34 ($0.34)($0.48)NMAdjusted EPS (1) $0.46 ($0.14)($0.08)NM NM - Not meaningfulThe Company reports certain non-GAAP measures which include cash costs per AgEq ounce produced, cash costs per Au ounce produced, AISC per AgEq ounce produced, all-in sustaining cost per Au ounce produced, total production cost per tonne, average realized silver price per AgEq ounce sold, average realized Au price per ounce sold, working capital, adjusted EPS, EBITDA, adjusted EBITDA, and free cash flow. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning under the Company's financial reporting framework and the methods used by the Company to calculate such measures may differ from methods used by other companies with similar descriptions. See "Non-GAAP Financial Measures" at the end of this news release for further details of these measures. The table below represents the annual operating and cost performance results at each of the Company's producing mines and the Jerritt Canyon Gold Project for 2025.Annual Production SummaryLos Gatos (3)San DimasSanta ElenaLa EncantadaJerritt Canyon (2)ConsolidatedOre Processed / Tonnes Milled867,467928,3521,101,6131,106,025-4,003,457Silver Ounces Produced5,869,3705,385,1501,416,8622,764,123-15,435,506Gold Ounces Produced3,12155,72488,107137342147,433Silver Equivalent Ounces Produced8,906,26710,240,7739,114,4832,776,46022,78131,060,764Cash Costs per Silver Equivalent Ounce (1)$12.91$14.97$14.36$23.61NM$15.07All-in Sustaining Cost per Silver Equivalent Ounce (1)$15.15$19.62$17.96$29.26NM$21.17Total Production Cost per Tonne (1)$94.34$159.29$104.73$57.26N/A$102.02 NM - Not meaningfulSee "Non-GAAP Financial Measures" at the end of this news release for further details of these measures. On March 20, 2023, management made the decision to temporarily suspend all mining activities at Jerritt Canyon effective immediately. As of April 24, 2023, all activities at the Jerritt Canyon processing plant were suspended. In-circuit recovery efforts performed during 2025 resulted in production of 342 gold ounces from Jerritt Canyon.All production and non-GAAP results shown in the table above are reported on an attributable basis to account for the Company's 70% ownership of the Los Gatos Joint Venture that owns the Los Gatos Silver Mine.Q4 2025 DIVIDEND ANNOUNCEMENTThe Company is pleased to announce that its Board of Directors has declared a cash dividend in the amount of $0.0083 per common share for the fourth quarter of 2025. The dividend will be paid to holders of record of First Majestic's common shares as of the close of business on February 27, 2026, and will be paid out on or about March 16, 2026.Under the Company's dividend policy, for 2025, the quarterly dividend per common share was targeted to equal approximately 1% of the Company's net quarterly revenues divided by the Company's then outstanding common shares. Note: In the case of net revenues generated from the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), 70% of the net revenue from such mine, being the revenue that is attributable to the Company, is used for the purposes of the Company's quarterly dividend calculation.In January 2026, the Company announced that it is increasing its dividend per common share from 1% to 2% of net quarterly revenues earned, effective from January 1, 2026, onwards. The first payment at this increased dividend level is expected to be made in June 2026 when the Company pays its dividend for Q1 2026 in respect of revenue earned from January 1, 2026, onwards.The amount and distribution dates of future dividends remain at the discretion of the Board of Directors. This dividend qualifies as an "eligible dividend" for Canadian income tax purposes. Dividends paid to shareholders outside Canada (non-resident investors) may be subject to Canadian non-resident withholding taxes.RESIGNATION OF DIRECTORThe Company also announces that effective February 8, 2026, Daniel Muñiz Quintanilla resigned as a director of the Company. The Company would like to thank Mr. Muñiz Quintanilla for his support and wishes him the best in his future endeavours.CONFERENCE CALL DETAILS The Company will host a conference call and webcast on Thursday, February 19, 2026, at 8:30 a.m. (PT) / 11:30 a.m. (ET) to provide investors and analysts with a business update, and to discuss the Company's fourth quarter production and financial results, and its 2026 guidance.To participate in the conference call, please use the following dial-in numbers or the Web Phone link, and request to join the First Majestic Silver call:Canada & USA Toll-Free:+1-833-752-3407Outside of Canada & USA:+1-647-846-2866Web Phone:Click Here Participants should dial-in at least 15 minutes prior to the start of the call to ensure placement in the conference on time.The live webcast link of the call will be accessible directly at this link, Q4 2025 Results Conference Call, as well as on the First Majestic home page at www.firstmajestic.com through the "February 19, 2026 Webcast Link". A webcast archive will be available approximately one hour after the end of the event and will be accessible for three months through the same link as the live event.A recording of the conference call will be available for telephone replay approximately one hour after the end of the event by calling:USA & Canada Toll-Free:+1-855-669-9658Outside of Canada & US:+1-412-317-0088Access Code:2656428 The telephone replay will be available for seven days following the end of the event.ABOUT FIRST MAJESTICFirst Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.FIRST MAJESTIC SILVER CORP."signed"Keith Neumeyer, CEO Non-GAAP Financial MeasuresThis news release includes reference to certain financial measures which are not standardized measures under the Company's financial reporting framework. These measures include cash costs per silver equivalent ounce produced, all-in sustaining cost (or "AISC") per silver equivalent ounce produced, cash costs per gold ounce produced, AISC per gold ounce produced, total production cost per tonne, average realized silver price per ounce sold, average realized gold price per ounce sold, working capital, adjusted net earnings and EPS, EBITDA, adjusted EBITDA, and free cash flow. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. These measures are widely used in the mining industry as a benchmark for performance but do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures disclosed by other companies. The data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For a complete description of how the Company calculates such measures and a reconciliation of certain measures to GAAP terms please see "Non-GAAP Measures" in the Company's most recent management discussion and analysis filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.Cautionary Note Regarding Forward-Looking StatementsThis news release contains "forward-looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates 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 in this news release include, but are not limited to, statements with respect to: the timing for the Company's fourth quarter dividend payment and the shareholder record and payable dates in connection with such dividend payment; and the timing for the Company's first dividend payment at the increased level of 2% of net quarterly revenues earned during a quarter. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-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 mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates 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 the 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 events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "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 forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the duration and effects of the coronavirus and COVID-19, and any other pandemics on our operations and workforce, and the effects on global economies and society; general economic conditions including inflation risks; 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 with local communities; changes in national or local governments; changes in applicable legislation or application thereof; delays in obtaining approvals or financing or in the completion 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 coverage 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 for the year ended December 31, 2024, filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the year ended December 31, 2024, filed with the United States Securities and Exchange Commission on EDGAR at http://www.sec.gov/edgar. Although First Majestic has attempted to identify important factors that could cause actual results 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.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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284469
Original: First Majestic Reports Q4 2025 and Full Year 2025 Financial Results; Announces Quarterly Dividend Payment

Rumer going around that Mexico will nationalize their silver mines within next 90 days, supposedly in review now. If true AG becomes worthless, caution advised.

First Majestic Silver Corporate Presentation | VRIC 2026



Weekly Chart
https://schrts.co/qvkDNEef

Wow! Silver just broke $100.00 per oz.

Wow! 02/01/2021 AG high exceeded today. New 10yr high!

The termination of Bigcharts was VERY well timed !.......(for this whole commodities / PM Boom)


Thursday December 18th


ONE MONTH LATER.......10 day data delay (for non subscribers) ?


What the heck ?.....Why the diff ?........Matches up from 2010 tho


GAP FILLED ?........HARD TO TELL



Everything's such a frickin' shell game.......Wild Wild West



DECEMBER 22nd


4 WEEKS LATER ?
















LOS CRIMINALES !

With silver exploding and this about to break 5 year highs it’s blue skies from here. As long as silver continues its run 2026 will be a great year for this company and it’s investors. $AG

With silver exploding and this about to break 5 year highs it’s blue skies from here. As long as silver continues its run 2026 will be a great year for this company and it’s investors. $AG

Whoa there bigbux, $100? What basis? You think First Majestic deserves at $50 Billion valuation?

And will this Silver n Gold bull consolidate here or correct lower… or maybe it keeps going parabolic.

Over $20 on way to $100!

AG 4 year high, just broke $18.
On its way to new highs.

AG is setting up another inverse head and shoulders pattern. Also, the bottom looks like it's about to fall out of the #gold/ #silver ratio. I break down how First Majestic Silver is finally about to explode higher:
#SilverSqueeze #silverprice $AGQ $SLV $HL $CDE $WPM

Silver Production Update




Hello Big Charts

Deep Cash Reserves With over $500 million in cash, AG has the flexibility to invest in new projects, weather market swings, and pursue strategic acquisitions. $AG

$AG Explosive Revenue Growth First Majestic posted nearly double its revenue year-over-year in 2025, signaling a major growth surge that’s catching investor attention.

$AG 💎 First Majestic Silver ($AG): A Pure Play on the Future of Silver
If you believe silver is more than just a shiny metal — that it’s a cornerstone of clean energy, electronics, and financial resilience — then First Majestic Silver Corp. might be the stock you’ve been looking for.

🎯 Focused on Silver, Not Just Mining
Unlike many mining companies that juggle multiple metals, First Majestic is laser-focused on silver. That means when silver prices rise, AG tends to move faster and farther than diversified miners. It’s one of the few true silver plays on the market.

🌍 Positioned for the Green Economy
Silver isn’t just for jewelry and coins anymore. It’s a critical component in:

Solar panels

Electric vehicles

Semiconductors

Medical devices

As the world shifts toward electrification and sustainability, demand for silver is expected to surge — and AG is ready to ride that wave.

📊 Strong Fundamentals and Growth Potential
Operational mines in Mexico, one of the richest silver regions globally.

Momentum rating: AG has recently shown strong price movement, attracting short-term traders and long-term believers alike.

Financial health: With a high Piotroski Score (a measure of financial strength), AG is seen as well-managed and efficient.

💬 What Analysts Are Saying
Wall Street analysts have given AG a “Moderate Buy” rating, with some projecting significant upside. While price targets vary, the consensus is clear: AG has room to grow, especially if silver prices continue climbing.

🛡️ A Hedge Against Uncertainty
Silver has long been a safe haven during inflation, currency volatility, and geopolitical tension. Investing in AG gives you direct exposure to that hedge — with the added benefit of growth potential.

⚖️ Bottom Line
First Majestic Silver isn’t just a mining stock — it’s a bet on the future of energy, technology, and financial resilience. Whether you’re a silver bull, a momentum trader, or a long-term investor looking for undervalued assets, AG offers a compelling case.

You can't make this stuff up. Thank you.

#AG: REACHING FOR THE STARS.....$ 12.23 .....

Funny how the price of Silver still is not above the 1980 high of ($50) which is $196.00 today with inflation. Yet gold has surpassed its 1980 equivalent already. PROOF silver is manipulated and held down. Checkmate !

so the face melt rally begins on 9-2-25 ? https://www.tipranks.com/news/company-announcements/first-majestic-silver-shines-in-earnings-call?mod=mw_quote_news

Silver Set to Soar: Why $100 an Ounce Could Be Just the Beginning!

https://www.zerohedge.com/news/2025-07-06/silver-set-soar-why-100-ounce-could-be-just-beginning

{The fundamentals tell an even bigger story. If you’ve followed silver over the past few years, you’re likely aware of the surging industrial demand for this precious metal. Solar energy, electric vehicles (EVs), and electronics heavily rely on silver for its unmatched electrical conductivity. However, the critical issue is that supply is dwindling.}

{....global silver mining produces around 800-825 million ounces each year, while consumption ranges between 1.2 to 1.4 billion ounces, creating a gap of nearly 500 million ounces. This imbalance exerts upward pressure on prices, especially as mining output remains constrained due to under investment.}

#AG: $8:40 consolidated.... Ready to reach the next level... $10 here we come....

$AG Total Debt (mrq) $237.02M

Coming silver squeeze? Why silver price at $250-$500 is 'entirely possible' – Eric Sprott
https://www.kitco.com/news/article/2025-03-06/coming-silver-squeeze-why-silver-price-250-500-entirely-possible-eric