First Majestic Silver Corp. Announces Updated La Encantada NI 43-101 Technical Report

VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 28, 2016) – FIRST MAJESTIC SILVER CORP. (the “Company” or “First Majestic”) (FRANKFURT:FMV)(TSX:FR)(NYSE:AG)(BVM:AG) is pleased to provide an updated NI 43-101 Technical Report including Mineral Reserve and Resource estimates for the La Encantada Silver Mine located in the State of Coahuila, Mexico. First Majestic is reporting Mineral Resources inclusive of Mineral Reserves; readers are cautioned of this change since the Company had previously reported La Encantada’s Mineral Resources exclusive of Mineral Reserves in its previous Technical Report. The silver price used for reserve estimates was reduced to $17.50/oz, or 12.5% lower compared to the previous estimate of $20.00/oz. All amounts are in U.S. dollars unless stated otherwise.

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