Mr. Keith Neumeyer reports

FIRST MAJESTIC LAUNCHES OFFERING OF CONVERTIBLE SENIOR NOTES

First Majestic Silver Corp. is offering $300-million (U.S.) aggregate principal amount of unsecured convertible senior notes due 2031 pursuant to private placement exemptions. First Majestic expects to grant the initial purchasers of the notes an option to purchase up to an additional $45-million (U.S.) aggregate principal amount of notes. First Majestic intends to use the net proceeds of the offering to repurchase, in separate privately negotiated transactions, a portion of its outstanding 0.375 per cent convertible senior notes due 2027 and for general corporate purposes, including strategic opportunities.

The final terms of the offering will be determined by First Majestic and the initial purchasers. The notes will bear cash interest semi-annually at a fixed rate and will be convertible by holders into First Majestic common shares. The notes will be redeemable by First Majestic at its option in certain circumstances. Holders will have the right to require First Majestic to repurchase their notes upon the occurrence of certain events.

About First Majestic Silver Corp.

First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The company currently owns and operates four producing underground mines in Mexico: Los Gatos silver mine (the company holds a 70-per-cent interest in Los Gatos joint venture that owns and operates the mine), the Santa Elena silver/gold 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 project located in northeastern Nevada, United States.

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