Falcon Gold To Reprice, Prolong 2.5 Million Warrants

On the San Dimas Silver/Gold Mine:

• San Dimas produced 3,080,940 silver equal ounces in the course of the quarter consisting of 1,632,117 ounces of silver and 18,528 ounces of gold, representing a 23% and 22% lower, respectively, when in comparison with the prior quarter. The lower in manufacturing was primarily attributable to excessive absenteeism within the months of January and February attributable to a rise in COVID-19 infections inside the Tayoltita group.
• The mill processed a complete of 195,300 tonnes of ore with common silver and gold grades of 282 g/t and three.09 g/t, respectively. Silver and gold grades had been decrease within the first quarter attributable to increased dilution from the lengthy gap stopes within the Jessica Vein.
• Silver and gold recoveries in the course of the quarter averaged 92% and 96%, respectively.
• The Central Block and Sinaloa Graben areas contributed roughly 76% and 24%, respectively, of the whole manufacturing in the course of the quarter. The Firm continued advancing underground growth for stope preparation and air flow inside the Perez Vein to be prepared for preliminary manufacturing within the third quarter.
• A complete of 11 drill rigs, consisting of 1 floor rig and 10 underground rigs, had been energetic on the property in the course of the quarter.

On the Jerritt Canyon Gold Mine:

• Through the quarter, Jerritt Canyon produced 20,707 ounces of gold, representing a 12% lower in comparison with the prior quarter. The lower was primarily attributable to climate circumstances in January which resulted in a ten% discount in tonnes processed in comparison with the prior quarter.
• The mill processed a complete of 230,001 tonnes of ore with a median gold grade and restoration of three.39 g/t and 83%, respectively. The SSX and Smith mines contributed roughly 35% and 48%, respectively, of the whole manufacturing within the quarter. As well as, a number of floor areas contributed roughly 17% of whole manufacturing in the course of the quarter. The processing of decrease ore grade from SSX and floor materials continued in the course of the quarter which resulted in decrease than budgeted ore grades processed within the plant.
• The Firm has begun rehabilitation efforts within the West Generator underground mine and expects to start transport ore to the plant by the top of the second quarter. This new space, together with the rehabilitation of the Saval II underground mine, is anticipated to extend mine throughput and the typical gold head grade on the plant within the second half of 2022.
• In March, the Firm applied an amended contract with the mining contractor and took management of all mine planning, technical companies, geology, mine engineering and ore controls within the SSX and Smith mines which is anticipated to lead to improved efficiencies and decrease prices within the coming quarters.
• A complete of 11 drill rigs, consisting of two floor rigs and 9 underground rigs, had been energetic in the course of the quarter.

On the Santa Elena Silver/Gold Mine:

• Santa Elena produced 1,868,787 silver equal ounces consisting of 337,201 ounces of silver and 19,556 ounces of gold in the course of the quarter, representing a 21% lower in silver and a 1% lower in gold manufacturing when in comparison with the prior quarter. The lower in silver manufacturing was primarily attributable to processing increased volumes of Ermitaño’s ore which is thought to comprise decrease silver grades however increased silver equal grades than Santa Elena’s ore.
• Santa Elena and Ermitaño contributed roughly 43% and 57%, respectively, of the ore tonnes processed in the course of the quarter. The mill processed a complete of 201,910 tonnes of ore consisting of 87,720 tonnes from Santa Elena and 114,190 tonnes from Ermitaño. At quarter finish, a complete of 94,845 tonnes of mineralized materials grading 1.48 g/t gold and 76 g/t silver remained in floor stockpiles at Santa Elena.
• Silver and gold grades from Santa Elena averaged 97 g/t and 1.13 g/t, respectively, whereas silver and gold grades from Ermitaño averaged 45 g/t and 4.98 g/t, respectively.
• Consolidated silver and gold recoveries averaged 77% and 91%, respectively, in the course of the quarter. The Firm continued to advance the dual-circuit building on the Santa Elena processing plant which is designed to extend leaching efficiency and metallurgical recoveries of ore from Ermitaño. An extra leaching tank and a fourth CCD thickener are actually anticipated to be commissioned within the third quarter adopted by a brand new tailings filter-press within the fourth quarter of 2022.
• Through the quarter, the Firm started building of the LNG powerplant enlargement and powerline at Santa Elena to supply low-cost, clear energy to the Ermitaño mine and to assist the facility necessities for the dual-circuit installations. The Firm is planning to put in 4 further LNG mills to extend its energy technology capability to roughly 24 MW from the present 14 MW. Moreover, building on a brand new powerline to attach the LNG plant to Ermitaño additionally started in the course of the quarter with completion anticipated within the third quarter.
• A complete of 5 drill rigs, consisting of three floor rigs and two underground rigs, had been energetic in the course of the quarter.

On the La Encantada Silver Mine:

• Through the quarter, La Encantada produced 644,009 ounces of silver, representing a 15% lower in ounces in comparison with the prior quarter. The lower was primarily attributable to a 7% lower in processed tonnes and an 8% lower in silver grade.
• The mill processed a complete of 249,906 tonnes of ore with a median silver grade and restoration of 108 g/t and 74%, respectively. The lower in grade and recoveries had been the results of low-grade materials being sourced from beforehand mined areas. The Firm continued creating in the direction of the Ojuelas orebody in addition to putting in new draw-points inside the 660 space in an effort to extend silver grades within the second half of 2022.
• Two drill rigs, consisting of 1 floor rig and one underground rig, had been energetic on the property in the course of the quarter.

Q1 EARNINGS AND DIVIDEND ANNOUNCEMENT

The Firm is planning to launch its first quarter 2022 unaudited monetary outcomes, and to announce the primary quarter dividend cost, together with the shareholder report and payable dates on Thursday, Might 12, 2022.

ABOUT THE COMPANY

First Majestic is a publicly traded mining firm centered on silver and gold manufacturing in Mexico and america. The Firm presently owns and operates the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

First Majestic is proud to supply a portion of its silver manufacturing on the market to the general public. Bars, ingots, cash and medallions can be found for buy on-line at its Bullion Retailer at among the lowest potential premiums.

FOR FURTHER INFORMATION contact [email protected], go to our web site at www.firstmajestic.com or name our toll-free no 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

“signed”

Keith Neumeyer, President & CEO

Cautionary Notice Concerning Ahead Trying Statements

This press launch comprises “ahead‐wanting data” and “forward-looking statements” beneath relevant Canadian and U.S. securities legal guidelines (collectively, “ahead‐wanting statements”). These statements relate to future occasions or the Firm’s future efficiency, enterprise prospects or alternatives which might be based mostly on forecasts of future outcomes, estimates of quantities not but determinable and assumptions of administration made in mild of administration’s expertise and notion of historic tendencies, present circumstances and anticipated future developments. Ahead-looking statements embrace, however should not restricted to, statements with respect to: the Firm’s enterprise technique; future planning processes; business mining operations; money movement; budgets; the timing and quantity of estimated future manufacturing; ore grades; restoration charges; mine plans and mine life; integration of operations; future gross sales; the longer term value of silver and different metals; prices of manufacturing; prices and timing of growth on the Firm’s initiatives; capital initiatives and exploration actions and the potential outcomes thereof. Assumptions could show to be incorrect and precise outcomes could differ materially from these anticipated. Consequently, steering can’t be assured. As such, buyers are cautioned to not place undue reliance upon steering and forward-looking statements as there will be no assurance that the plans, assumptions or expectations upon which they’re positioned will happen. All statements apart from statements of historic truth could also be ahead‐wanting statements. Statements regarding confirmed and possible mineral reserves and mineral useful resource estimates can also be deemed to represent ahead‐wanting statements to the extent that they contain estimates of the mineralization that can be encountered as and if the property is developed, and within the case of measured and indicated mineral assets or confirmed and possible mineral reserves, such statements mirror the conclusion based mostly on sure assumptions that the mineral deposit will be economically exploited. Any statements that specific or contain discussions with respect to predictions, expectations, beliefs, plans, projections, goals or future occasions or efficiency (typically, however not all the time, utilizing phrases or phrases resembling “search”, “anticipate”, “plan”, “proceed”, “estimate”, “count on”, “could”, “will”, “undertaking”, “predict”, “forecast”, “potential”, “goal”, “intend”, “might”, “would possibly”, “ought to”, “consider” and comparable expressions) should not statements of historic truth and could also be “ahead‐wanting statements”.

Precise outcomes could range from forward-looking statements. Ahead-looking statements are topic to identified and unknown dangers, uncertainties and different components that will trigger precise outcomes to materially differ from these expressed or implied by such forward-looking statements, together with however not restricted to: the period and results of the coronavirus and COVID-19, and some other pandemics on our operations and workforce, and the results on world economies and society, dangers associated to the mixing of acquisitions; precise outcomes of exploration actions; conclusions of financial evaluations; adjustments in undertaking parameters as plans proceed to be refined; commodity costs; variations in ore reserves, grade or restoration charges; precise efficiency of plant, tools or processes relative to specs and expectations; accidents; labour relations; relations with native communities; adjustments in nationwide or native governments; adjustments in relevant laws or software thereof; delays in acquiring approvals or financing or within the completion of growth or building actions; alternate price fluctuations; necessities for extra capital; authorities regulation; environmental dangers; reclamation bills; outcomes of pending litigation; limitations on insurance coverage protection in addition to these components mentioned within the part entitled “Description of the Enterprise – Threat Elements” within the Firm’s most up-to-date Annual Data Kind, out there on www.sedar.com, and Kind 40-F on file with america Securities and Change Fee in Washington, D.C. Though First Majestic has tried to establish necessary components that might trigger precise outcomes to vary materially from these contained in forward-looking statements, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant.

The Firm believes that the expectations mirrored in these ahead‐wanting statements are cheap, however no assurance will be on condition that these expectations will show to be right and such ahead‐wanting statements included herein shouldn’t be unduly relied upon. These statements converse solely as of the date hereof. The Firm doesn’t intend, and doesn’t assume any obligation, to replace these forward-looking statements, besides as required by relevant legal guidelines.

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