First Majestic Silver Corp

First Majestic owns six producing silver mines including the La Encantada Silver Mine, the La Parrilla Silver Mine, the San Martin Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine, and the Santa Elena Silver Mine.The Company's first operating mine, the La Parrilla Silver Mine, was acquired in 2004 and is located conveniently outside the city of Durango. The property underwent its fifth major development project in 2012 that further expanded the mill to 2,000 tpd (from the previous 850 tpd). The expansion was deemed commercially effective on March 1, 2012 and the parallel 1,000 tpd flotation and 1,000 tpd cyanidation circuits became fully operational. At the current run rate of 2,000 tpd, it is anticipated that La Parrilla will produce approximately 3.0 million ounces of silver (or 4.5 million silver equivalent ounces) per year.

First Majestic next acquired the La Encantada Silver Mine, located in the state of Coahuila, in 2006. The Company began the construction of a 4,000 tpd cyanidation circuit in 2008. By April 2010, commercial production was achieved increasing annual silver production by 200% to approximately 4.0 million ounces of silver, all in the form of silver doré bars. In 2015, the Company further expanded the crushing and grinding area at La Encantada by installing a new 12’ X 14’ ball mill which is estimated to increase silver production by an additional 1.0 million ounces per year. First Majestic's third operating mine, the San Martin Silver Mine, was also acquired in 2006 and recently underwent an expansion from 950 tpd to 1,300 tpd. This expansion was completed in October 2013. At full capacity, San Martin's annual silver production is projected to reach 2.0 million ounces of silver in the form of doré bars plus modest amounts of gold.