Mr. Keith Neumeyer reports

FIRST MAJESTIC PROVIDES UPDATE ON OPERATIONS IN RESPONSE TO COVID-19

Operations at First Majestic Silver Corp.'s San Dimas, Santa Elena and La Encantada mines in Mexico will be temporarily suspended, in accordance with the Mexican Ministry of Health's decree to mitigate the spread and transmission of COVID-19.

On March 31, 2020, the Ministry of Health issued the decree requiring non-essential businesses, including mining, to temporarily suspend activities until April 30, 2020. Since the decree was announced, the company has been working with local and state officials, industry task force groups, and other mining companies to make the case to the federal government that mining, especially silver mining, is essential and critical to the medical industry given silver's anti-bacterial properties, which are proven to reduce the spread of viruses. The U.S. Department of Homeland Security and Canada's National Strategy for Critical Infrastructure have previously defined mining as an essential business in their respective countries. Industry and company discussions to support silver mining as an essential business continue to be held in Mexico City, but the Ministry of Health has not changed its position.

As a result, the company is in the process of reducing its work force on sites, in compliance with the decree, and will implement care and maintenance activities during the suspension. Appropriate security and environmental procedures will remain fully functional. At this time, the company is unable to determine how the temporary suspension will impact production and, therefore, has withdrawn its 2020 production and cost guidance.

First Majestic's staff consists of 17 full-time physicians and several health care professionals who are working in collaboration with local and regional health authorities in Mexico. The company has previously implemented several control measures to assist with preventing the spread of COVID-19. These include: social distancing; the cancellation of any non-essential visits to the mines; comprehensive sanitation measures for the workplace and company transportation; and prescreening for virus symptoms. Additionally, access restrictions to limit travel in and out of the local communities have previously been implemented.

"The health and safety of our employees, union partners, contractors and the communities in which they work and live are top priority," said Keith Neumeyer, president and chief executive officer of First Majestic Silver. "We will continue to provide significant medical support to health clinics within our local communities. To date, First Majestic has not experienced any incidents related to COVID-19 at its sites or corporate offices."

About First Majestic Silver Corp.

First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets.

We seek Safe Harbor.