Mr. Keith Neumeyer reports

FIRST MAJESTIC ANNOUNCES CLOSING SALE OF LA PARRILLA

First Majestic Silver Corp. has closed its previously announced transaction to sell its 100-per-cent-owned past-producing La Parrilla silver mine located in the state of Durango, Mexico, to Golden Tag Resources Ltd. following the receipt of approval from the Comision Federal de Competencia Economica and the TSX Venture Exchange, as well as the completed other customary closing conditions. In consideration of the sale, First Majestic received 143,673,684 common shares of Golden Tag at a deemed price of 19 Canadian cents per common share for an approximate value of $27.0-million (Canadian) or $20.0-million (U.S.). First Majestic will also receive up to $13.5-million (U.S.) (see terms herein) in the form of three milestone payments in either cash or shares in Golden Tag with the share price and number of shares to be determined upon the anniversary date (where applicable).

In addition, First Majestic participated in Golden Tag's offering of subscription receipts and purchased 18,009,000 subscription receipts at a price of 20 Canadian cents per subscription receipt, which, in accordance with terms, have converted into 18,009,000 Golden Tag common shares and 9,004,500 common share purchase warrants. Each warrant is exercisable for one additional Golden Tag common share until Aug. 14, 2026, at a price of 34 Canadian cents.

The following additional disclosure is being provided under the early warning provisions of Canadian securities legislation.

Following the closing of the transaction and the conversion of the subscription receipts, First Majestic now holds 161,682,684 Golden Tag common shares, or approximately 40.8 per cent of the issued and outstanding Golden Tag common shares and 9,004,500 warrants. Assuming the warrants were exercised, First Majestic would hold an aggregate of 170,687,184 Golden Tag common shares or approximately 42.2 per cent of the issued and outstanding Golden Tag common shares on a partially diluted basis.

Prior to completion of the transaction and acquisition of the subscription receipts, First Majestic did not hold any securities of Golden Tag. The securities of Golden Tag were acquired by First Majestic for general investment purposes. Depending on various factors, including, without limitation, market conditions, general economic and industry conditions, and/or any other factors that First Majestic may deem relevant, First Majestic may take such actions with respect to its investment in Golden Tag as it deems appropriate, including, without limitation, acquiring, selling or distributing the common shares to shareholders of First Majestic or otherwise disposing of securities of Golden Tag from time to time.

First Majestic has been granted participation rights to maintain its pro rata interest in Golden Tag (to a maximum of 19.9 per cent) in any future equity issuances of Golden Tag, subject to customary exceptions.

The consideration shares are subject to contractual resale restrictions in addition to applicable securities laws resale restrictions.

Under the terms of the agreement with Golden Tag, First Majestic may distribute all common shares in excess of 19.9 per cent of the issued and outstanding Golden Tag common shares pro rata to First Majestic's shareholders. The contractual resale restrictions will not apply to the excess shares and are subject to customary carveouts in the event of a takeover bid or merger or acquisition transaction involving the common shares.

A copy of the early warning report will be made available on Golden Tag's SEDAR+ profile, and may also be obtained by contacting First Majestic at 1-866-529-2807 or by e-mail at info@firstmajestic.com.

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 the San Dimas silver/gold mine, the Santa Elena 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.

First Majestic is proud to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase on-line at its bullion store at some of the lowest premiums available.

We seek Safe Harbor.