First Majestic Silver Corp. (NYSE:AG) (TSX:AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce that it has commenced a restart plan for its Jerritt Canyon Gold Mine ("Jerritt Canyon") located in Nevada, USA, as a result of the new expanded Mineral Resource base combined with strengthened long-term gold price assumptions and successful drilling results over the past 2 years. As part of this plan, the Company has engaged Stantec Consulting Services Inc. to complete a pre-feasibility level study on Jerritt Canyon (the "Study") that is expected to be completed in Q4 of 2026.

The Company plans to invest $75 million in 2026 to support the restart of Jerritt Canyon, with production expected to commence in the second half of 2027.