First Majestic Silver Corp. announced positive drilling results from its 2024 exploration program at the San Dimas Silver/Gold Mine located in Durango State, Mexico. The drill program was designed to test new silver and gold mineral targets, add Mineral Resources, and convert Mineral Resources to Mineral Reserves.

The recent drilling has continued to highlight San Dimas' 71,867 hectare prospectivity through the intersection of significant gold and silver mineralization. Drilling to convert Inferred to Indicated Mineral Resources at Perez, Santa Regina and Elia has, in multiple cases, returned better than expected results. Resource expansion drilling has confirmed the Perez vein remains open to the east and west, the Sinaloa mineralized system is open down-dip, and the Santa Teresa mineralization is open for approximately one kilometre to the west.

Drilling highlights: Select highlights from the Company's ongoing exploration program at San Dimas include the following high-grade intercepts: Perez Vein Highlights (true width): PE24_297: 7.36 g/t Au and 1,129 g/t Ag over 6.72 metres ("m"); PE24_309: 10.87 g/t Au and 1,034 g/t Ag over 7.88 m; PE23_294: 1.99 g/t Au and 440 g/t Ag over 6.08 m. Sinaloa-Elia Vein System Highlights (true width): SIN24_092: 39.28 g/t Au and 1,905 g/t Ag over 1.76 m; EL24_266: 20.41 g/t Au and 1,702 g/t Ag over 2.15 m; EL24_265: 10.46 g/t Au and 879 g/t Ag over 0.92 m. Santa Regina Vein Highlights (true width): SRE23_287: 13.24 g/t Au and 1,501 g/t Ag over 0.94 m; SRE23_282: 9.44 g/t Au and 1,069 g/t Ag over 1.34 m; SRE23_293: 9.27 g/t Au and 849 g/t Ag over 1.52 m. Santa Teresa Vein Highlights (true width): STA24_029: 4.86 g/t Au and 511 g/t Ag over 2.18 m; STA23_028: 4.10 g/t Au and 79 g/t Ag over 2.09 m.