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Jerritt Canyon

Gold Mine

First Majestic acquired the Jerritt Canyon Gold Mine in 2021.

The Jerritt Canyon property contains 30,821 hectares of mining claims located in the mining friendly state of Nevada. The Jerritt Canyon deposit was discovered in 1972 and first gold production from the property occurred in 1981.

Open pit mining was conducted from early 1981 until late 1999, with the mining carried out in the areas of Marlboro Canyon, Alchem, Lower North Generator Hill, Upper North Generator Hill, West Generator, Burns Basin, Mill Creek, Pattani Springs, California Mountains, Dash, Winters Creek, Steer Canyon, and Saval Canyon. Underground operations started in 1997 at SSX, and continued until 2008 with production from the Steer, Murray, Marlboro Canyon East, Smith, West Generator, and Saval deposits.

Since the start of mining at Jerritt Canyon, approximately 9.8 million ounces of gold have been produced over it’s 40+ year history.

In March 2023, the Company temporarily suspended mining operations due to several ongoing challenges such as inflationary cost pressures, contractor inefficiencies, lower than expected head grades and multiple extreme weather events. The Company will continue exploring both near-mine and prospective regional greenfield targets to grow Jerritt Canyon's resources, which are believed to significantly enhance the economics for the eventual restart of operations targeting gold production in H2 2027 that was announced in April 2026..

Going forward, the Company will focus on the following:

  • De-risking mineralized zones that are anticipated to be a part of the first three years of the restart plan.
  • Analyzing the optimization of bulk mining and cost-effective mining methods.
  • Conversion of inferred and indicated resources into measured resources.
  • Reducing mining costs through adopting self-perform mining and improve contractor rates and terms.
  • Modernizing the processing plant to be able to better withstand severe weather conditions.

Mine Information

STAGE

Exploration & Development

Resource

Gold

Ownership

100%

HECTARES

30,821

MEASURED & INDICATED

4,100K AU OZ

INFERRED

3,660K AU OZ

First Quarter Financial Results to be Released on May 13

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the “Company” or “First Majestic”) is pleased to announce that its unaudited 2014 first quarter financial results will be released on Tuesday, May 13, 2014.

First Majestic is a mining company focused on silver production in México and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer, President & CEO

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release includes certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral reserve and resource estimates and estimates of future production and costs of production at our properties; estimated production rates for silver and other payable metals produced by us, the estimated cost of development of our development projects; the effects of laws, regulations and government policies on our operations, including, without limitation, the laws in Mexico which currently have significant restrictions related to mining; obtaining or maintaining necessary permits, licences and approvals from government authorities; and continued access to necessary infrastructure, including, without limitation, access to power, land, water and roads to carry on activities as planned.

These statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada, Mexico; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properties are mined; the Company’s title to properties; and the factors identified under the caption “Risk Factors” in the Company’s Annual Information Form, under the caption “Risks Relating to First Majestic’s Business”.

Investors are cautioned against attributing undue certainty to forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.