First Majestic Announces 2021 Mineral Reserve and Resource Estimates

Vancouver, British Columbia–(Newsfile Corp. – March 31, 2022) – FIRST MAJESTIC SILVER CORP. (TSX: FR) (NYSE: AG) (FSE: FMV) (the “Company” or “First Majestic”) is pleased to announce its 2021 Mineral Reserve and Resource estimates for its material mineral property assets with an effective date of December 31, 2021. The Company completed a record exploration program totalling 227,845 metres of drilling at its operating mine properties in 2021, representing a 46% increase in metres drilled compared to the prior year. Approximately 80% of this drilling was focused on near mine or brownfield targets while the remainder was focused on greenfield targets looking for new discoveries. During 2021, the Company added more ounces into Reserves than were depleted following a record 26.9 million silver equivalent ounces in annual production.

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