Wayne Lam

- The Mexican Federal Government amended mining and water laws in **May 2023**, increasing mining royalties in **2025** (from **7.5% to 8.5%** of taxable earnings and **0.5% to 1%** on precious metal revenues) and introducing new permitting requirements for hydrocarbons in **March 2025**.  **[1308648_0001193125-25-220751_d12444dex991.htm:12]** **[1308648_0001193125-25-220751_d12444dex992.htm:23]** **[1308648_0001193125-25-220751_d12444dex991.htm:24]** **[1308648_0001193125-25-220751_d12444dex991.htm:107]**  These amendments are expected to have a potentially material impact on current and future operations, with constitutional challenges and amparo lawsuits currently pending before the Supreme Court of Justice.  **[1308648_0001193125-25-220751_d12444dex992.htm:23]** **[1308648_0001193125-25-220751_d12444dex991.htm:24]** **[1308648_0001193125-25-220751_d12444dex991.htm:107]** 
- As of **December 31, 2024**, the San Dimas mine reported the following mineral resources and reserves:

    **San Dimas Mineral Resources (Effective December 31, 2024)**  **[1308648_0001193125-25-220751_d12444dex991.htm:19]** 
    | Metric | Total Measured & Indicated |
    |---|---|
    | Tonnage (k tonnes) | **4,876** |
    | Silver Content (k Oz) | **48,710** |
    | Gold Content (k Oz) | **569** |
    | Silver-Equivalent Content (k Oz) | **99,020** |

    **San Dimas Mineral Reserves (Effective December 31, 2024)**  **[1308648_0001193125-25-220751_d12444dex991.htm:21]** 
    | Metric | Total Proven & Probable |
    |---|---|
    | Tonnage (k tonnes) | **3,229** |
    | Silver Content (k Oz) | **25,480** |
    | Gold Content (k Oz) | **294** |
    | Silver-Equivalent Content (k Oz) | **51,200** |

- The Life of Mine (LOM) plan for **2025-2029** forecasts the following production and operating costs:

    **San Dimas Life of Mine Production Schedule (2025-2029)**  **[1308648_0001193125-25-220751_d12444dex991.htm:22]** 
    | Metric | Total (2025-2029) |
    |---|---|
    | ROM Production / Plant Feed (kt) | **3,229** |
    | Produced Silver (M oz Ag) | **24** |
    | Produced Gold (k oz Au) | **281** |
    | Produced Silver-Equivalent (M oz Ag-Eq) | **48** |

    **San Dimas Operating Costs (LOM Plan)**  **[1308648_0001193125-25-220751_d12444dex991.htm:112]** 
    | Metric | $/tonne milled |
    |---|---|
    | Total Production Cost | **$160.5** |
    | Total Cash Cost | **$163.0** |

- Effective **April 30, 2025**, the gold equivalent reference ratio in the streaming agreement with Wheaton Precious Metals was amended from **70:1 to 90:1** (silver to gold) due to the average gold/silver price ratio reaching 90:1.  **[1308648_0001193125-25-220751_d12444dex991.htm:12]**

First Majestic Silver Corp. Provides Technical Update on San Dimas Mine and Addresses Mexican Regulatory Changes

- First Majestic Silver Corp. announced **positive drilling results** from its 2024/2025 exploration programs at the Los Gatos Silver Mine in Chihuahua, Mexico.  **[1308648_0001062993-25-015280_exhibit99-1.htm:0]** 
- The drilling identified significant silver and base metal mineralization, including high-grade intercepts such as **1080 g/t AgEq** over **1.6 meters true length** in the South-East Deeps and **1013 AgEq g/t** over **1.9 meters true length** in the Central Deeps.  **[1308648_0001062993-25-015280_exhibit99-1.htm:0]** **[1308648_0001062993-25-015280_exhibit99-1.htm:1]** **[1308648_0001062993-25-015280_exhibit99-1.htm:2]** 
- These results are expected to support **meaningful Mineral Resource growth** at Los Gatos, although they were not included in the company's year-end Mineral Reserve and Mineral Resource Estimates.  **[1308648_0001062993-25-015280_exhibit99-1.htm:0]** 
- First Majestic holds a **70% interest** in the Los Gatos Joint Venture.  **[1308648_0001062993-25-015280_exhibit99-1.htm:4]**

First Majestic Silver Corp. Reports Positive Exploration Results at Los Gatos

- First Majestic Silver Corp. reported **positive drilling results** from its ongoing exploration program at the **San Dimas Silver/Gold Mine** in Durango, Mexico, as of August 18, 2025.  **[1308648_0001062993-25-014861_exhibit99-1.htm:0]** 
- The exploration program was designed to explore for new veins, expand Mineral Resources, and upgrade Inferred Mineral Resources to Indicated Mineral Resources.  **[1308648_0001062993-25-014861_exhibit99-1.htm:0]** 
- Significant gold and silver mineralization was intersected in multiple veins across the property, including Sinaloa-Elia, Roberta, Santa Teresa, and the new Coronado vein.  **[1308648_0001062993-25-014861_exhibit99-1.htm:0]** 
- Key high-grade intercepts include **3.57 meters** at **15.93 g/t Au** and **1,112 g/t Ag** (ELI25X-1) and **1.06 meters** at **23.70 g/t Au** and **578 g/t Ag** (ELI25X-17) from the Sinaloa-Elia veins.  **[1308648_0001062993-25-014861_exhibit99-1.htm:0]** 
- Keith Neumeyer, President & CEO, stated that these results reinforce San Dimas as a **high-quality asset** with **significant growth opportunities** for the company.  **[1308648_0001062993-25-014861_exhibit99-1.htm:0]**

FIRST MAJESTIC SILVER (AG)