High-Grade Exploration At The San Dimas, Santa Elena And Jerritt Canyon

VANCOUVER - First Majestic Silver Corp. reported positive drilling results from its ongoing exploration programs at San Dimas, Santa Elena, and Jerritt Canyon. The ongoing exploration programs were designed to focus on adding new mineral resources, upgrading Resources to mineral reserves, and further defining mineralization near current underground infrastructure. In the first half of 2023, the Company had up to 19 active drill rigs and completed a total of 78,973 metres of exploration drilling across its portfolio of mines and projects in Mexico and the United States.

"We are very encouraged with the high-grade exploration results that have been achieved to date," stated Keith Neumeyer, President & CEO. "The recent drilling has accomplished multiple goals from confirming new geologically prospective areas to achieving strong intercepts for Resource to Reserve conversion. Results from the Elia and Santa Teresa veins at San Dimas highlight the potential to add new, high-grade ounces within this past-producing area. At Santa Elena, the results from the Ermitaño vein are in many cases better than expected and will provide a solid foundation for Reserve replacement. Finally, successful drilling at the Javelin target at Jerritt Canyon has identified what appears to be another large, mineralized gold pod near underground infrastructure and further showcases the strong exploration potential in the asset."