First Majestic Silver Corp. reported production results for the fourth quarter and full year of 2012. For the quarter, the company developed 14,802 metres underground in the fourth quarter, compared to 14,595 metres of underground development completed in the previous quarter. Development has been focused on increasing the Reserve and Resource preparation ratios at the four operating mines and further mine preparation at Del Toro in advance of phase two of production through cyanidation expected to commence in mid-2013. Also, the diamond drilling programs in the fourth quarter totaled 25,940 metres of exploration drilling over 168 holes for a 2012 annual total of 135,769 metres of drilling completed over 674 holes at the company's four mines, and at the Del Toro Silver Mine.

For the year, the company reported the total production in 2012 reached 9,110,452 equivalent ounces of silver, representing a 20% increase over 7,562,494 equivalent ounces of silver produced in 2011. The equivalent silver production for 2012 consisted of 8,260,434 ounces of pure silver, representing a 14% increase from the prior year, 13,240,889 pounds of lead, representing a 68% increase from the previous year, 4,952,899 pounds of zinc, representing a 2,671% increase from the previous year, 18,329 tonnes of iron ore, representing an 85% increase from the previous year, and 4,221 ounces of gold, representing an increase of 175% compared to the previous year. Total silver production in 2012 as a percentage of total metal production amounted to 91%.

The company has elected to provide guidance for 2013 production estimated in a range from 12.3 to 13.0 million ounces of silver equivalent or 11.1 to 11.7 million ounces of pure silver. On a year-over-year comparison, this 2013 estimate represents an increase of 34% to 42% of pure silver production maintaining First Majestic's status as the silver industry's growth leader.