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Message: First Majestic Announces Extension of Share Repurchase Program
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Mon Mar 10, 2014
First Majestic Announces Extension of Share Repurchase Program
THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, March 10, 2014 - First Majestic Silver Corp. ("First Majestic" or the "Company") announced today that its board of directors has approved the extension of its share repurchase program (the "Share Repurchase") pursuant to a normal course issuer bid in the open market through the facilities of the Toronto Stock Exchange ("TSX") or alternative Canadian market places over the next 12 months. Pursuant to the Share Repurchase, the Company proposes to repurchase up to 5,865,931 common shares of the Company which represents 5% of the 117,318,624 issued and outstanding shares of the Company as of March 4, 2014.

In order to implement the Share Repurchase, First Majestic has received TSX approval of its notice of intention to make a normal course issuer bid. The notice provides that First Majestic may, during the 12 month period commencing on March 13, 2014 and ending on or before March 12, 2015, purchase up to 5,865,931 common shares through the facilities of the TSX and alternative Canadian marketplaces.

In accordance with TSX rules, daily purchases made by First Majestic on the TSX will not exceed 116,903 common shares, or 25% of First Majestic's average daily trading volume of 467,612 common shares on the TSX for the six calendar months preceding the date of the acceptance of the original notice, subject to certain prescribed exemptions.

The Company repurchased a total of 215,000 shares for cancellation under its prior normal course issuer bid which commenced on March 13, 2013 and expires on March 12, 2014, at a volume weighted average price of $11.385 per common share. All repurchases were made by means of open-market transactions through the facilities of the TSX.

First Majestic will make no purchases of common shares other than open-market purchases. The price that the Company will pay for any common shares will be the prevailing market price of such shares at the time of acquisition. All common shares purchased pursuant to the Share Repurchase will be cancelled.

First Majestic is adopting the Share Repurchase because it believes that its common shares have been trading in a price range which does not adequately reflect the value of such securities in relation to the Company's business and its future prospects. Accordingly, the purchase of First Majestic's common shares will increase the proportionate interest of, and be advantageous to, all remaining shareholders of First Majestic.

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.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

"signed"

Keith Neumeyer, President & CEO
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