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First Majestic Announces Changes to Operations and Geological Teams

March 3, 2014

TSX: FR

NYSE: AG

Frankfurt: FMV

VANCOUVER, March 3, 2014 /PRNewswire/ – First Majestic Silver Corp. (“First
Majestic” or the “Company”) (NYSE: AG; TSX: FR) is pleased to announce
the following personnel promotions and changes.

In the ongoing effort to continually improve operations and to realize
further operational efficiencies over the coming years, after achieving
the senior producer status in 2013, the Company has decided to promote
Mr. Salvador García to the role of Chief Operating Officer starting
July 1, 2014. Mr. García has been partnering with Mr. Ramon Davila to
manage the Company’s Mexican operations since January 2013 and has
proven his ability to take over this important operational role. Mr.
García is well respected and highly regarded within the Mexican mining
industry with over 35 years’ experience in senior positions in all
aspects of mining operations.

Prior to joining First Majestic in January 2013, Mr. García held several
positions, most recently as Vice President Mexico, for Goldcorp. Mr.
García was with Luismin prior to its acquisition by Goldcorp (NYSE:GG;
TSX:G) for a period of 25 years. He worked in positions ranging from
Mine Superintendent, General Manager and Operations Director and was
later promoted to the senior management team of Goldcorp as Vice
President Mexico. While in those positions, he was responsible for the
operations at the Tayoltita and San Antonio mines and was involved in
the development, construction and operation of the Los Filos, El Sauzal
and Peñasquito mines. Mr. Garcia graduated with a bachelor’s degree in
mine engineering from the School of Mines at the University of
Guanajuato.

Consistent with the Company’s successions plans, Mr. García will replace
Mr. Davila who will remain on the Board of Directors. Mr. Davila will
also continue to act as the Company’s Governmental Relations Officer in
Mexico and will remain a member on the Chamber of Mines representing
First Majestic. Mr. Davila has held the position of Chief Operating
Officer since December 2003 and will retire from that position on June
30, 2014.

Mr. Davila stated, “What a long and exciting journey it has been over
the past 10 years. I’ve had the opportunity to head the Mexican team
to the dream of taking First Majestic to the level of a senior silver
producer. When you have the willingness, there’s no place to go but
up. I would like to thank Mr. Keith Neumeyer, the Board of Directors,
and all of our staff for their friendship and support, and I look
forward to continually working with First Majestic and its Board of
Directors in the years to come in my Directorship role”.

Keith Neumeyer, President and CEO of First Majestic states, “As many of
our shareholders know, 2013 was our tenth year anniversary and we have
achieved our initial goal of building a company that produces over 10
million ounces of silver per year. We were able to reach this goal
because of the depth and breadth of our management team and the
continuous efforts the entire team brings to the table every day. We
are now turning the page on a new chapter for First Majestic. Our focus
has now been elevated toward reaching 20 million ounces of silver
production and I truly believe we have the experienced team and the
quality assets to accomplish this new goal. Many achievements have
been realized over the past 10 years and a lot of hard work remains to
achieve this new goal, but everyone is ready for the new challenge. I
would personally like to thank Ramon Davila for his many years of hard
work and dedication in assisting in the development of First Majestic
to reach its goals to date.”

In addition, First Majestic is also pleased to announce the following
personnel changes within the Operations and Geological teams in an
effort to organize operations and geology for greater efficiency and
effectiveness.

Consistent with the Company’s primary focuses, which are; automation,
information technology and metallurgy, Mr. Alejandro Sandoval was
recruited as the General Manager of Processing Plants in January to
focus on improving recoveries at all operations. Mr. Sandoval has over
37 years of experience in the Mexican mining industry and specifically
in the area of metallurgy, having had experience in all positions at
the plants, laboratories, research and design and construction of
plants with Fresnillo, Peñoles, Goldcorp and Minera Frisco. Mr.
Sandoval is responsible for all metallurgical matters and for ongoing
improvements and testing at all operations. He graduated with a
bachelor’s degree in metallurgy from the School of Metallurgy at the
University of San Luis Potosi.

Mr. Mario Valdez Bustillos, a mining engineer with over 31 years of
mining experience in all aspects of mining operations. Mr. Valdez has
held several positions ranging from Mine Foreman, Assistant of Mine
Superintendent, Mine Superintendent, Manager of several operations at
Grupo Mexico, Minera Alfil and Diabras and who has held the position of
Regional Manager of Operations since June 2009. Mr. Valdez has been
promoted to Divisional Manager of Operations in charge of the La
Encantada, San Martin and La Guitarra mining operations. He graduated
with a bachelor’s degree in mine engineering from the School of Mines
at the University of Chihuahua.

Mr. Carlos Castro Villalobos, a mining and metallurgical engineer with
over 36 years of mining experience has held numerous positions in
companies such as Peñoles and Luismin, including Manager of Mining
Operations and Manager of Construction of Mining Projects. Mr. Castro
has been the Company’s Manager of Projects since June 2012 where he was
responsible for the construction of Del Toro and the expansion project
at La Parrilla. He has now been promoted to Divisional Manager of
Operations in charge of the La Parrilla and Del Toro operations. Mr.
Castro graduated with a bachelor’s degree in mine engineering from the
School of Mines at the University of Guanajuato.

Mr. Sergio Alan Moreno Zazueta, a mining engineer with over 28 years of
mining and academic experience at Grupo Mexico and at the School of
Mines at the Sonora University, with work on mining operations with
consulting works on use of explosives, rock mechanics and all aspects
of mining operations who has held the position of Manager of La
Encantada since July 2011, has been promoted to Corporate Manager of
Safety, Training and Environmental. Mr. Moreno graduated with a
bachelor’s degree from the School of Mines at the University of Sonora
and holds a master’s degree in extractive metallurgy and a PhD in
mining exploitation.

Mr. Carlos Wong, a geological engineer with over 30 years of mining
experience in all aspects of mine planning, construction of new
projects, reserves definition and exploration. Mr. Wong, who has held
the position of Manager of Exploration since May 2012, has been
promoted to Manager of Planning and Innovation Projects. He graduated
with a bachelor’s degree from the School of Geology at the University
of San Luis Potosi and holds a master’s degree in mineral economics
from the Colorado School of Mines.

Ms. Maria Vazquez recently joined First Majestic in October 2013 as
Geological Database Manager, located in Vancouver, Canada. Ms. Vazquez
is a professional geoscientist with over 14 years of mining exploration
experience; 10 years of which have been managing geological databases.
Previously, Ms. Vazquez held the position of Database Geologist at AMEC
for two and a half years. She also worked for a junior exploration
company in Vancouver for four years and as a geological database
consultant prior to joining AMEC.

Mr. Todd Anthony, who has held the Investors Relations Manager position
since May 2010 has been promoted to Vice President of Investor
Relations. Mr. Anthony has over 8 years of experience within the
investment community and financial markets having worked previously at
U.S. Global Investors. He graduated with a bachelor’s degree in
business administration from Stephen F. Austin State University along
with a master’s degree in business administration from Texas A&M
University-Kingsville.

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.

FIRST MAJESTIC SILVER CORP.

“signed”

Keith Neumeyer, President & CEO

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release includes certain “Forward-Looking Statements” of
“forward looking information” within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities laws, respectively. 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 accuracy of mineral reserve and resource estimates; the
estimated cost and timing of development of our development projects;
the timing of completion of exploration programs and preparation of
technical reports; 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 or Mexico; the Company’s cash flow and
availability of alternate sources of capital; 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 or development, 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.

SOURCE First Majestic Silver Corp.


Source: PR Newswire



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