Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCF) is pleased to announce the results from the mobile metal ion (MMI) soil geochemistry survey completed at the Secret Pass Gold Project in Mohave County, Arizona
Result Highlights
The results of the MMI soil survey (1,139 soil samples), when interpreted with the geology, alteration and geophysics data, define four new significant mineralization target areas outside of the Tin Cup Zone as illustrated in Figure 1.
Two of the highlighted target zones include, Target 1 and Target 4 are on newly staked mineral claims announced by Northern Lights on September 30, 2021.
Targets 2, 3, and 4 are considered to be a priority for detailed geological mapping and sampling to identify future drill targets.
Target 1 on newly acquired claim areas in the northwest quadrant of the project tenements defined a gold in soil anomaly including samples up to 51.6 ppb Au.
Target 2 is centred on the area between the Fiery Squid and Fluorspar Ridge defining a 1.9 km N-S trending gold in soil anomaly that lies between the Union Pass and Frisco Mine Faults. Results include samples up to 547 ppb Au.
Target 3 in an area adjacent to Union Pass Fault defined a gold in soil anomaly that is outside known workings on trend with previous prospects and drifts. Inculdes samples up to 95.4 ppb Au.
Target 4 on newly acquired claim area that includes numerous shallow shafts and surface workings form two subparallel vein systems. No surface rock sampling was previously undertaken in this area. The results show gold in soil anomaly including samples up to 86 ppb Au.
Northern Lights CEO, Jason Bahnsen, commented "The MMI soil results highlight the potential of the northern section of the Secret Pass Project and on the recently staked ground to the east of the Tin Cup Zone. Planned exploration work in 2022 will include detailed geological mapping of the new target areas as a precursor to generating drill targets. Assays from the four drill holes completed at Tin Cup in December are still pending and will be released as received."
Figure 1: Secret Pass Project - Exploration Target Areas
Mobile Metal Ion (MMI) Soil Geochemistry Survey
In September and October 2021, Northern Lights Resources completed a close-spaced MMI soil survey over the 1,128 Ha Secret Pass license area. In total, 1,139 soil samples were collected on a 200m x 50m grid (grid spacing irregular over some areas of extreme topography).
The Secret Pass soil samples were analyzed by SGS Laboratories in Vancouver utilizing mobile metal ionic leach analysis for a 60-element suite. The key benefits to using partial ionic leach extraction for soil analysis compared to the industry standard aqua regia digestion includes the following:
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCF" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Northern Lights Resources Corp.
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NOT FOR DISTRIBUTION TO OR FOR DISSEMINATION IN THE UNITED STATES
Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company")(CSE:NLR)(OTCQB:NLRCF) announces that it intends to complete a non-brokered private placement (the "Placement") for gross proceeds of up to C$1,000,000 from the sale of common shares of the Company (the "Shares") at a price of C$0.075 per Share
The Company intends to use the net proceeds raised from the Placement for the exploration of the Company's Secret Pass Gold Project located in Northwestern Arizona, USA and for general working capital purposes.
The Placement may be completed in multiple tranches and is subject to receipt of executed subscription agreements and funds as well as customary closing conditions, including regulatory approvals as required.
In accordance with applicable securities laws, the Shares issued under the Placement will be sold to accredited investors or other investors who are exempt from prospectus requirements and will be subject to a four-month hold period in Canada. While the Placement is non-brokered, referral fees may be paid on a portion of the proceeds to eligible persons, where permitted by applicable law.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
For further information on Northern Lights Resources please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: Shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% controlled, Secret Pass Gold Project located in Mohave County, Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County, Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of "NLR" on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCD) is pleased to announce start of the 2022 exploration program at the Medicine Springs Silver Project ("Medicine Springs"), located in Elko County, Nevada, that the Company is exploring in joint venture with Reyna Silver Corp. (Reyna Silver
The 2022 exploration program at Medicine Springs will include a 5,000 to 7,000 metre drill program targeting the discovery of a large scale Carbonate Replacement Deposit (CRD) system. Drill permitting is underway and work is commencing immediately on additional field studies to further refine drill targets. Drilling is expected to commence in Q3/Q4 2022.
Norhern Lights CEO, Jason Bahnsen commented "We are delighted to have work underway at Medicine Spings leading to the upcoming 5,000 to 7,000 metre drill program. The Medicine Springs Project has the potential to host large scale CRD silver and base metals mineralizaton and we are looking forward to seeing the results of this initial drill program."
Under the terms of the Opton/JV agreement between Northern Lights and Reyna Silver, Reyna Silver are earning up to 80% of the Medicine Springs Project. Northern Lights does not contribute to project exploration expenditure until total exploration expenditures have exceeded US$4.0 million. (See the Northern Lights announcement dated October 5, 2020 for full details of the Option/JV agreement with Reyna Silver.)
In 2021, Reyna Silver conducted a Selective Jasperoid Sampling survey focused on the prominent NE trending, multi-stage jasperoids that cut across the property along the inferred principal hydrothermal fluid pathways. The results show zoning of Copper, Lead-Zinc, and Silver and are interpreted to indicate a multi-stage high-level mineralization center at depth. Comparison of the field data to Reyna's CRD continuum exploration model supports the idea that the full CRD spectrum is present within the Medicine Springs project area.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCD" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company") (CSE:NLR), (OTCQB:NLRCF) is pleased to announce that it is proceeding with the consolidation of its common shares on a ten (10) for one (1) basis (the "Consolidation"). The Company's common shares will commence trading on a post-consolidated basis effective at market opening on May 24, 2022 (the "Effective Date
Immediately prior to completion of the Consolidation, the Company has 143,571,385 common shares issued and outstanding. After giving effect to the Consolidation, the Company will have approximately 14,357,139 common shares issued and outstanding, subject to the rounding of fractional common shares. The company has been issued with a new Cusip Number (66538D301), there will be no escrow of shares, and the trading symbol will remain unchanged.
No fractional common shares will be issued as a result of the Consolidation. All fractional common shares resulting from the Consolidation will be rounded to the nearest whole number of common shares. The Company's outstanding incentive stock options and warrants will be adjusted on the same basis (10:1) to reflect the Consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices. New warrant certificates reflecting the Consolidation are not required and will not be issued.
Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-Consolidation common shares for new share certificates or Direct Registration Advice (DRS) representing post-Consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to affect the Consolidation.
For further information on Northern Lights Resources please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.co
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: Shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of "NLR" on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCF) is pleased to announce an update to the exploration plan for the Tin Cup prospect at the Company's 100% owned Secret Pass Gold Project in Mohave County, Arizona
Following on from the success of the initial four holes completed, Northern Lights is planning to expand the exploration program at Secret Pass to include the drilling of three (3) additional holes at Tin Cup and two (2) drill holes at the FM Zone, which is located approximately 500 metres east of Tin Cup. All five (5) proposed drill holes are fully permitted. The drill holes statistics and significant intersections for the first four drill holes are sumarized on Table 1. The location of the recent drill holes and the planned drill holes for Tin Cup and the FM Zones are illlustrated on Figure 1.
Prior to initiating the second phase of drilling, Northern Lights is planning to complete a deep penetrating Induced Polarization (IP) survey over the claim area covering the Tin Cup and FM zones. This survey will explore to depths of ~400 metres and will assist in refining existing targets and identifying new drill targets associated with zones of high chargeability located along strike and to depth. With reference to Figure 1, the IP survey area will cover the gold anomay generated from the soil sampling program completed in 2021. This soil survey identified a significant gold soil anomaly approximately 1,100 metres in length and up to 400 metres wide as shown on Figure1.
Northern Lights CEO, Jason Bahnsen, commented"The initial drilling at Tin Cup has been very successful and has confirmed the presence of wide zones of gold mineralization. The next phase of drilling will test the Tin Cup mineralization at depth and further along strike. We also have two holes permitted to drill at the FM Zone where we are targeting vertical vein structrues similar to Tin cup. The proposed holes are fully permitted with drilling to commence pending financing and availability of drilling contractors."
The first four drill holes completed at Tin Cup showed confirmation of gold mineralization from surface to a maximum depth of approximately 90 metres. The three additional holes planned have been fully permitted and will test the down plunge extension of the gold mineralization. With reference to Figure 2, drill hole TC21-06 is planned for 400 metres at a 55 degree dip to test the mineralizaton at depth. The other two drill holes TC22-07 and TC22-08 will test the mineralization along strike.
At the Tin Cup zone, drilling at depth will test the potential for an epithermal quartz vein system similar to the Oatman District. The geology of the Tin Cup zone shares similarities of the upper parts of the Oatman gold system. The Secret Pass drilling will target both the upper broad zone of stockwork veining and the deeper, more discreet ‘bonanza' veining.
The drilling at the FM zone will target near-vertical mineralized structures related to the FM fault zone similar to the Tin Cup zone.
Table 1: Tin Cup Phase 1 Drill Holes
Hole No. | Location | Azimuth (o) | Dip (o) | Length (m) | Significant Intersections |
TC21-01 | Tin Cup | - | - | - | Abandoned |
TC21-02 | Tin Cup | 220 | -45 | 175 |
|
TC21-03 | Tin Cup | 220 | -55 | 230 |
|
TC21-04 | Tin Cup | 310 | -50 | 103* |
|
TC21-05 | Tin Cup | 040 | -60 | 102* |
|
TC22-06 | Tin Cup | 220 | -65 | 400 | Fully Permitted - Pending Drilling |
TC22-07 | Tin Cup | 250 | -50 | 250 | Fully Permitted - Pending Drilling |
TC22-08 | Tin Cup | 200 | -50 | 150 | Fully Permitted - Pending Drilling |
FM22-01 | FM Zone | 220 | -50 | 150 | Fully Permitted - Pending Drilling |
FM22-02 | FM Zone | 220 | -50 | 150 | Fully Permitted - Pending Drilling |
| Total Completed and Planned | 1,710 | ||||
Note: all intersections have been previously announced and represent downhole widths as insufficient information is available to calculate true widths.
*Drill holes TC21-04 and TC21-05 were terminated early due to technical difficulties.
Figure 1: Drill Locations and Gold Soil Anomalies
Figure 2: Tin Cup Drilling Cross Section and Geological Model
QA/QC Statement
Diamond Core (HQ size) was drilled by Godbe Drilling LLC under the supervision of Mr. Lee Beasley, QP for Northern Lights Resources. The core was split with the half core transported to Skyline Assayers and Laboratories (Skyline) in Tucson, AZ. Field control QA/QC samples, including standards, blanks, and field duplicates, were inserted into the sample stream at a rate of one field control sample every 20 regular samples. Samples received by the lab are logged, weighted and assigned into batches. Sample preparation begins with crushing samples to 75% passing -10 mesh. From this sample, 250 grams of material is separated using a riffle splitter which is then further pulverized to at least 95% - 150 mesh resulting in a pulp that is ready for analysis. Gold was determined by fire assay fusion of a 30 gram sub-samples with atomic absorption spectroscopy (method FA-01). Overlimit samples of gold ( greater than 5 g/t) were assayed by gravimetric means (FA-02). Skyline Laboratories is accredited in accordance with ISO/IEC 17025:2017 and ISO 9001:2015.
Competent Persons Statement
Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.
Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCF" on the OTCQB. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new inforAddmation, future events or otherwise, except as required by law.
SOURCE: Northern Lights Resources Corp.
News Provided by ACCESSWIRE via QuoteMedia
Northern Lights Resources (CSE:NLR) (OTCQB:NLRCF) reports additional high-grade assay results from its third and fourth drill holes at its Tin Cup Prospect at its Secret Pass Gold Project in Arizona. The 100%-owned Secret Pass Gold Project is located in the Frisco-Catherine Gold district of Northwest Arizona, is approximately 8 kilometers Northeast of Elevation Gold's Moss Mine, a heap leach open pit gold mine currently operating at an average mined grade of 0.45 gt gold. Following the acquisition of an additional 260 hectares in September 2021, the Secret Pass Gold Project now covers approximately 1,128 hectares.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments by Jason Bahnsen, CEO of Northern Lights. The video is available for viewing on " InvestmentPitch.com " and on " YouTube ". If these links are not enabled, please visit www.InvestmentPitch.com and enter "Northern Lights" in the search box.
Northern Lights has completed four diamond core drill-holes, totalling 610 meters, at Tin Cup. All four drill holes intercepted zones of moderate to strong gold mineralization hosted by altered andesite.
Today's results are from Hole TC21-04 and 05. Hole TC21-04 intersected 0.95 g/t gold over 103.00m, starting at surface and including the entire length of the drill hole . This included 2.96 g/t gold over 12.96m starting at 75.59m. Hole TC21-05 Intersected 0.29g/t gold over 60.91m starting at 41.50m, including 0.56 g/t over 24.07m from 78.34m, which also included 4.23 g/t over 0.99m from 101.42m, which was the last meter of the drill hole.
Recently announced assays from Holes TC21-02 and 03 indicate wide zones of near surface gold mineralization are present at Tin Cup. The results from Hole21-03 have been slightly upgraded.
Northern Lights has permits in place to drill 3 additional holes and plans to apply for further drill-hole permits following the analysis of these first 4 holes. The company is also planning to complete a deep penetrating IP survey over the claim area covering the Tin Cup and FM zones. This survey will explore to depths of ~400 metres and will assist in defining new drill targets associated with zones of high chargeability located along strike and to depth.
The gold mineralization at Tin Cup is open at depth and has not yet been tested below an average depth of 95 metres. The focus of this initial drill program is to confirm the gold mineralization previously identified by reverse circulation drilling in the 1980s and to provide additional geological information on the style of gold mineralization.
The shares are trading at $0.035. For more information, please visit the company's website, www.NorthernLightsResources.com , contact Rick Timcke, President, at 604-608-6163 or email RTimcke@NorthernLightsResources.com , or contact Jason Bahnsen, CEO, at 604-608-6163 or email jason@NorthernLightsResources.com . For Investor Relations, contact Shawn Balaghi, at 604-773-0242 or email shawn@NorthernLightsResources.com .
Disclaimer
The information in this Investmentpitch Media Ltd video is for the viewers information only. Northern Lights has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.
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Locality map illustrating the position of Cobre’s project areas. Green licenses are relevant tothe Transaction, dark grey licenses will be run, and are owned, independently by Cobre.
At Perrinvale, Cobre is exploring a quartz unit with grades up to 99.6 percent silica, which is critical for electronics, solar photovoltaics and semiconductors. A published exploration target of up to 28.3 Mt and encouraging metallurgical results have attracted early interest from potential partners, including Malaysian group GK Silica.
Cobre remains well-positioned financially, with approximately AU$3 million in cash and investments as of March 2025. The company’s shareholder base is tightly held, with insiders owning over 7 percent and cornerstone investor Strata Investment Holdings controlling nearly 20 percent.
For the full analyst report, click here.
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Any investment information contained on this website, including third party research reports, are provided strictly for informational purposes, are general in nature and not tailored for the specific needs of any person, and are not a solicitation or recommendation to purchase or sell a security or intended to provide investment advice. Readers are cautioned to seek the advice of a registered investment advisor regarding the appropriateness of investing in any securities or investment strategies mentioned on this website.
Santo Niño: A New Gold-Silver Discovery Confirmed 900 Metres South of the Santa Elena Plant.
Navidad: Drilling Expands the Mineral Deposit Footprint and Returns Higher-Grade Gold and Silver.
First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to report a second significant discovery of vein-hosted gold and silver mineralization within a year at the Santa Elena property in Sonora, Mexico, and to share additional positive drilling results from the Navidad discovery. The near surface, newly identified Santo Niño vein, located approximately one kilometre south of the Santa Elena mine, marks a significant addition to the district. Resource addition and resource conversion drilling at the Navidad Discovery - completed after maiden Inferred Resource estimate declaration (see news release dated March 31, 2025 substantially increased the size of the mineralized area and several holes returned higher than average grades for the deposit. With the additions of Navidad and Santo Niño, the Santa Elena property now hosts four significant gold-silver deposits: Santa Elena, Ermitaño, Navidad, and Santo Niño, underscoring the growing scale and potential of the district.
"The past twelve months of our exploration activities at Santa Elena have been outstanding," stated Keith Neumeyer, President & CEO of First Majestic. "The Santo Niño discovery marks yet another exciting milestone for the district, and the drilling shows the vein remains open for expansion in most directions. At the same time, step-out drilling at the Navidad Discovery continues to intercept exceptionally high-grade mineralization and expand the resource envelope. Together with the producing Santa Elena and Ermitaño mines, these new deposits confirm Santa Elena as a truly prolific district with tremendous untapped potential. We believe Santo Niño and Navidad will meaningfully extend the mine life and will unlock additional value to the portfolio."
EXPLORATION HIGHLIGHTS FOR SANTO NIÑO AND NAVIDAD
Exploration drilling approximately 900 metres ("m") south of the Santa Elena processing plant has discovered the Santo Niño vein - a large, epithermal quartz-adularia vein hosting gold ("Au") and silver ("Ag") within a newly identified fault zone. Exploration drilling to date has traced the vein over one kilometre ("km") of strike and 400 m down-dip, with thirteen intercepts to date returning significant gold and silver grades. Confirmed mineralization spans more than 600 m along strike and approximately 200 m down dip, and the upside potential is open in multiple directions. Geological characteristics closely mirror those of the Ermitaño deposit, situated approximately 2.2 km to the east-southeast along strike, underscoring the district-scale potential at Santa Elena.
Drilling of the Navidad/Winter vein system, following the maiden Inferred Mineral Resource estimate effective December 31, 2024, expanded the footprint of precious metal mineralization while returning gold and silver grades substantially higher than were reported in the maiden Resource estimate. Drillhole EWUG-25-050 targeted the Winter vein more than 100 m east of prior drilling and intersected some of the highest-grade mineralization ever encountered on the Santa Elena Property: 6.8 m grading 14.8 g/t Au and 642 g/t Ag for an AgEq grade of 1,898 g/t. This interval includes 1.2 m at 29.5 g/t Au and 919 g/t Ag for 3,427 g/t AgEq; and 2.5m at 21.2 g/t Au and 1,093 g/t Ag for 2,897 g/t AgEq. Five additional significant intersections were cut further downhole including that of the Navidad vein. Resource conversion drilling confirms the continuity of precious metal mineralization and, in general, returned significantly higher gold and silver grades than estimated from prior drilling.
KEY DRILLING HIGHLIGHTS
Tables 1-3 below present a selection of drill hole intercepts with significant assay results from drilling at the Santo Niño and Navidad discoveries. All intercepts are true width.
Santo Niño Discovery Highlights
Table 1: Santo Niño Vein Significant Intercepts
| Hole ID | From (m) | To (m) | True Width (m) | Metal Grades |
| SE-24-04 | 471.45 | 473.80 | 1.93 | 3.07 g/t Au and 115 g/t Ag |
| And | 479.80 | 482.40 | 1.99 | 2.69 g/t Au and 59 g/t Ag |
| SE-25-15 | 345.00 | 347.20 | 1.91 | 8.38 g/t Au and 248 g/t Ag |
| Includes 1 | 345.75 | 346.25 | 0.43 | 27.50 g/t Au and 641 g/t Ag |
| SE-25-19 | 363.20 | 364.95 | 1.12 | 2.10 g/t Au and 34 g/t Ag |
| And | 366.25 | 372.30 | 5.24 | 1.51 g/t Au and 81 g/t Ag |
| And | 374.00 | 388.25 | 12.34 | 1.65 g/t Au and 113 g/t Ag |
| SE-25-23 | 376.20 | 378.60 | 1.84 | 4.81 g/t Au and 94 g/t Ag |
Navidad Discovery Highlights
Table 2: Winter Vein Significant Intercepts
| Hole ID | From (m) | To (m) | True Width (m) | Metal Grades |
| EWUG-25-050 | 702.50 | 713.10 | 6.81 | 14.77 g/t Au and 642 g/t Ag |
| Includes 1 | 702.90 | 704.75 | 1.19 | 29.51 g/t Au and 919 g/t Ag |
| Includes 2 | 705.10 | 708.95 | 2.47 | 21.22 g/t Au and 1093 g/t Ag |
| EWUG-25-051 | 569.10 | 575.90 | 5.89 | 11.11 g/t Au and 215 g/t Ag |
| Includes 1 | 569.45 | 569.90 | 0.39 | 17.81 g/t Au and 189 g/t Ag |
| Includes 2 | 571.15 | 572.50 | 1.17 | 24.99 g/t Au and 435 g/t Ag |
| Includes 3 | 573.45 | 573.80 | 0.30 | 12.05 g/t Au and 518 g/t Ag |
| Includes 4 | 574.35 | 575.00 | 0.56 | 16.52 g/t Au and 367 g/t Ag |
Table 3: Navidad Vein Significant Intercepts
| Hole ID | From (m) | To (m) | True Width (m) | Metal Grades |
| EW-24-387 | 1369.65 | 1371.75 | 1.61 | 4.74 g/t Au and 209 g/t Ag |
| EW-25-389 | 1120.95 | 1122.55 | 1.23 | 2.33 g/t Au and 158 g/t Ag |
| EW-25-389 | 1124.65 | 1129.55 | 3.75 | 6.06 g/t Au and 103 g/t Ag |
| EWUG-25-047 | 803.90 | 806.90 | 1.93 | 2.54 g/t Au and 14 g/t Ag |
| EWUG-25-047 | 815.00 | 825.45 | 9.05 | 3.31 g/t Au and 55 g/t Ag |
| EWUG-25-050 | 1017.00 | 1019.50 | 1.25 | 2.75 g/t Au and 314 g/t Ag |
District-Scale Exploration Strategy
Building on the exploration model unveiled in February 2025, our exploration team delivered a second gold and silver discovery in less than 12 months - the Santo Niño vein. By drilling beneath the masking andesitic cover into the prospective rhyolite horizon, geologists intercepted the Santo Niño vein and delineated zones of high-grade mineralization. Large portions of the Santa Elena concession, where this rhyolite is concealed, have not yet been explored, underscoring the district's untapped potential. Figure 1 shows the locations of the two new discoveries within the broader Santa Elena property.
Figure 1: Santa Elena Property Schematic Map of the Santo Niño and Navidad Discovery Areas. Plan View.
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Santo Niño Target
The Santo Niño discovery sits approximately 900 m south of the Santa Elena processing plant and 2.2 km west-northwest of the Ermitaño deposit. Twenty-three diamond drill core holes have been completed to date with thirteen returning significant vein-hosted gold and silver mineralization (Figures 2 and 3). Eleven of those intercepts define a continuous, higher-grade zone in the vein's western upper levels.
Santo Niño is a low-sulphidation, epithermal quartz-adularia vein within the Santo Niño fault zone (Figure 4). Drilling shows the structure strikes north-northwest and dips moderately to the northeast. The vein has now been traced for more than 1 km along strike and 400 m down-dip. Within that envelope, a mineralized core measuring ~600 m along strike by ~220 m down-dip has been identified to date. The average thickness of the mineralized zone is ~4.5 m and ranges from 1 m to 12.3 m. The mineralized area outlined by drilling is located in the western portion of the drill pattern projecting towards surface and the westernmost drill holes have returned some of the highest gold and silver grades. Mineralization remains open to the west and up-dip, while step-out holes on the east side have also intersected additional significant Au-Ag values that are open both eastward and at depth.
The full extent of the Santo Niño vein is yet to be defined, and substantial follow-up drilling is planned for 2025 to test its lateral and vertical potential.
Figure 2: Santo Niño Discovery Details, Santo Niño Vein. (A) Vertical Cross-Section of the Santo Niño Vein looking East. (B) Plan View of the Santo Niño Vein. (C) Long-Section Looking North. Full Projection of Santa Elena Mine Located ~ 1km North from Santo Niño Vein.
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Figure 3: Santo Niño Vein Long Section Looking North with Significant Intercepts Highlighting the Emerging Mineral Discovery.
Santa Elena Mine Projected in the Background for Reference.
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Figure 4: Core Photography of the Sano Niño Quartz-Adularia Vein with Gold and Silver Mineralization Detected by XRF Analysis
Hole SE-25-19 Assay Results: 12.34 m at 1.65 g/t Au and 113 g/t Ag (true width)
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Navidad Target
Drilling in the first half of 2025 has significantly expanded the Navidad/Winter vein system and delivered assay grades that exceed the averages estimated from prior drilling in the maiden Inferred Mineral Resource estimate. Step-out and in-fill holes have now traced the combined structure for 1.3 km along strike and 450 m down-dip, confirming both the lateral continuity and the vertical reach of high-grade mineralization.
The most significant growth has occurred on the eastern flank of the deposit. Since the resource cut-off date, drilling to the east has expanded the Winter vein by 175 m, and the Navidad vein by 325 m, with each step-out hole returning robust precious-metal values (Figure 5).
Three holes highlight the potential for deposit grade increase, and core photos from these holes are shown in Figures 6 and 7:
Structural interpretation indicates that the principal mineral shoots in both veins plunge gently - about 20° toward the east-northeast - and remain open up and down plunge (Figures 8 and 9).
In combination with the emerging Santo Niño discovery, the Navidad/Winter results reinforce Santa Elena's status as a district-scale, multi-deposit system with significant upside. An aggressive drill program, with nine active rigs currently, is in progress for the remainder of 2025, drilling aims to test the full strike length and depth potential of the new discoveries and to explore for additional mineral deposits.
Figure 5: Navidad Vein System Detail. Winter and Navidad Veins. (A) Long-Section of Winter Vein Showing Expansion from Drilling. (B) Plan View of Winter Vein. (C) Long Section of Navidad Vein Showing Expansion from Drilling. (D) Plan View of Navidad Vein.
Full Projection, Long Sections Looking North.
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Figure 6: Core Photography of the Winter Vein with Very High-Grade Gold and Silver Mineralization Detected by XRF Analyzer.
Hole EW-25-050 Assay Results: 6.81 m at 14.77 g/t Au and 642 g/t Ag (true width).
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Figure 7: Core Photography of the Navidad Vein with High-Grade Gold and Silver Mineralization Detected by XRF Analyzer.
Hole EW-25-389 Assay Results: 1.23 m at 2.33 g/t Au and 158 g/t Ag and 3.75 m at 6.06 g/t Au and 103 g/t Ag (true width).
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Figure 8: Winter Vein Long Section Looking Northwest with Significant Intercepts. Green Boundary Represents the Previously Disclosed Inferred Mineral Resource.
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Figure 9: Navidad Vein Long Section Looking Northwest with Significant Intercepts. Green Boundary Represents the Previously Disclosed Inferred Mineral Resource.
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Table 4: Drilling Summary of Significant Gold and Silver Drill Hole Intercepts at Santo Niño and Navidad Discoveries
| Drillhole | Target | Target Type | Significant Intercept | |||||
| From (m) | To (m) | True Length (m) | Au (g/t) | Ag (g/t) | AgEq (g/t) | |||
| Santo Niño Project | ||||||||
| SE-24-04 | Santo Niño Vein 1 | Resource addition | 471.45 | 473.80 | 1.93 | 3.07 | 115 | 376 |
| SE-24-04 | Santo Niño Vein 2 | Resource addition | 479.80 | 482.40 | 1.99 | 2.69 | 59 | 288 |
| SE-24-04 | Santo Niño Vein 3 | Resource addition | 484.35 | 486.00 | 1.26 | 1.12 | 141 | 236 |
| SE-24-04 | Santo Niño Vein 4 | Resource addition | 486.80 | 488.45 | 1.26 | 1.12 | 55 | 151 |
| SE-24-08 | Santo Niño Vein 1 | Resource addition | 558.10 | 559.40 | 1.18 | 1.15 | 30 | 128 |
| SE-24-08 | Santo Niño Vein 2 | Resource addition | 562.70 | 564.00 | 1.18 | 0.53 | 88 | 133 |
| SE-25-10 | Santo Niño Vein 1 | Resource addition | 650.40 | 653.55 | 2.73 | 0.81 | 84 | 153 |
| SE-25-10 | Santo Niño Vein 2 | Resource addition | 655.15 | 659.25 | 3.55 | 0.67 | 93 | 150 |
| SE-25-12 | Vein | Resource addition | 374.00 | 375.70 | 1.2 | 1.39 | 27 | 145 |
| SE-25-12 | Santo Niño Vein | Resource addition | 381.30 | 389.30 | 5.66 | 1.18 | 120 | 221 |
| SE-25-13 | Santo Niño Vein | Resource addition | 492.75 | 495.30 | 2.51 | 1.83 | 41 | 197 |
| SE-25-14 | Santo Niño Vein | Resource addition | 639.95 | 641.55 | 1.03 | 2.69 | 151 | 379 |
| SE-25-15 | Santo Niño Vein | Resource addition | 345.00 | 347.20 | 1.91 | 8.38 | 248 | 960 |
| SE-25-15 | Include 1 | Resource addition | 345.75 | 346.25 | 0.43 | 27.5 | 641 | 2,979 |
| SE-25-16 | Santo Niño Vein | Resource addition | 344.85 | 347.00 | 1.95 | 2.55 | 20 | 237 |
| SE-25-18 | Santo Niño Vein | Resource addition | 396.45 | 398.25 | 1.16 | 1.88 | 120 | 280 |
| SE-25-19 | Vein | Resource addition | 363.20 | 364.95 | 1.12 | 2.1 | 34 | 212 |
| SE-25-19 | Breccia | Resource addition | 366.25 | 372.30 | 5.24 | 1.51 | 81 | 209 |
| SE-25-19 | Santo Niño Vein | Resource addition | 374.00 | 388.25 | 12.34 | 1.65 | 113 | 253 |
| SE-25-21 | Breccia | Resource addition | 386.35 | 388.95 | 2.13 | 2.6 | 58 | 279 |
| SE-25-21 | Santo Niño Vein | Resource addition | 405.35 | 415.20 | 8.07 | 0.8 | 65 | 133 |
| SE-25-22 | Santo Niño Vein 1 | Resource addition | 488.50 | 489.80 | 1.13 | 1.79 | 55 | 208 |
| SE-25-22 | Santo Niño Vein 2 | Resource addition | 492.00 | 495.55 | 3.07 | 2 | 60 | 229 |
| SE-25-23 | Santo Niño Vein | Resource addition | 376.20 | 378.60 | 1.84 | 4.81 | 94 | 503 |
| SE-25-25 | Santo Niño Vein | Resource addition | 421.50 | 424.25 | 1.94 | 1.4 | 66 | 185 |
| Navidad Project | ||||||||
| EW-24-387 | Navidad Vein | Resource addition | 1369.65 | 1371.75 | 1.61 | 4.74 | 209 | 611 |
| EW-24-388 | Vein | Resource addition | 883.20 | 885.80 | 2.25 | 3.92 | 35 | 368 |
| EW-24-388 | Winter Vein | Resource addition | 973.20 | 976.40 | 2.77 | 2.06 | 66 | 241 |
| EW-24-388 | Regalo Vein | Resource addition | 1178.50 | 1179.95 | 1.11 | 1.34 | 98 | 212 |
| EW-24-388 | Navidad Vein | Resource addition | 1201.05 | 1202.65 | 1.39 | 1.84 | 180 | 336 |
| EW-24-388 | Vnlts | Resource addition | 1275.90 | 1277.35 | 1.26 | 0.83 | 83 | 153 |
| EW-25-389 | Navidad Vein | Resource addition | 1120.95 | 1122.55 | 1.23 | 2.33 | 158 | 356 |
| EW-25-389 | Navidad Vein 2 | Resource addition | 1124.65 | 1129.55 | 3.75 | 6.06 | 103 | 618 |
| EW-25-389 | Include | Resource addition | 1125.55 | 1126.15 | 0.46 | 16.1 | 342 | 1,711 |
| EW-25-391 | Vnlts | Resource addition | 996.70 | 998.50 | 1.03 | 1.78 | 117 | 268 |
| EW-25-391 | Navidad Vein 1 | Resource addition | 1010.20 | 1011.45 | 1.13 | 0.85 | 92 | 165 |
| EW-25-391 | Navidad Vein 2 | Resource addition | 1012.80 | 1015.10 | 2.08 | 1.41 | 123 | 242 |
| EW-25-391 | Vein | Resource addition | 1195.10 | 1198.90 | 1.9 | 1.42 | 117 | 237 |
| EWUG-24-047 | Regalo Vein | Resource addition | 803.90 | 806.90 | 1.93 | 2.54 | 14 | 231 |
| EWUG-24-047 | Navidad Vein | Resource conversion | 815.00 | 825.45 | 9.05 | 3.31 | 55 | 337 |
| EWUG-25-050 | Winter Vein | Resource addition | 702.50 | 713.10 | 6.81 | 14.77 | 642 | 1,898 |
| EWUG-25-050 | Include 1 | Resource addition | 702.90 | 704.75 | 1.19 | 29.51 | 919 | 3,427 |
| EWUG-25-050 | Include 2 | Resource addition | 705.10 | 708.95 | 2.47 | 21.22 | 1,093 | 2,897 |
| EWUG-25-050 | Vein | Resource addition | 720.50 | 724.15 | 2.09 | 3.66 | 141 | 452 |
| EWUG-25-050 | Include | Resource addition | 720.50 | 721.05 | 0.32 | 11.01 | 413 | 1,349 |
| EWUG-25-050 | Regalo Vein | Resource addition | 1017.00 | 1019.50 | 1.25 | 2.75 | 314 | 548 |
| EWUG-25-050 | Navidad Vein | Resource addition | 1051.30 | 1057.20 | 3.79 | 0.82 | 100 | 169 |
| EWUG-25-050 | Stockwork | Resource addition | 1068.70 | 1073.30 | 1.94 | 1.86 | 15 | 173 |
| EWUG-25-050 | Stockwork | Resource addition | 1122.10 | 1127.45 | 2.68 | 2.44 | 114 | 322 |
| EWUG-25-051 | Winter Vein | Resource conversion | 569.10 | 575.90 | 5.89 | 11.11 | 215 | 1,159 |
| EWUG-25-051 | Include 1 | Resource addition | 569.45 | 569.90 | 0.39 | 17.81 | 189 | 1,703 |
| EWUG-25-051 | Include 2 | Resource addition | 571.15 | 572.50 | 1.17 | 24.99 | 435 | 2,559 |
| EWUG-25-051 | Include 3 | Resource addition | 573.45 | 573.80 | 0.3 | 12.05 | 518 | 1,543 |
| EWUG-25-051 | Include 4 | Resource addition | 574.35 | 575.00 | 0.56 | 16.53 | 367 | 1,772 |
Notes:
First Majestic's drilling programs follow established Quality Assurance, Quality Control ("QA/QC") insertion protocols with standards, blanks, and duplicates introduced into the sample-stream. After geological logging, all drill core samples are cut in half. One half of the core is submitted to the laboratory for analysis and the remaining half core is retained on-site for verification and reference purposes or for future metallurgical testing.
Core samples were submitted to the SGS laboratory (ISO/IEC 17025:2017) and to the First Majestic Central laboratory (Central laboratory) (ISO 9001:2015). At SGS, gold is analyzed by 30 g or 50 g fire assay atomic absorption finish (GE-FAA30V5, GE-FAA50V5). Results above 10 g/t gold are analyzed by 30 g or 50g fire assay gravimetric finish (GO-FAG30V, GO-FAG50V). Silver is analyzed by 3-acid digest atomic absorption finish (GE-AAS33E50). Results above 100 g/t silver are analyzed by 30 g or 50 g fire assay gravimetric finish (GO-FAG37V, GO-FAG57V). At Central laboratory, gold is analyzed by 30g fire assay atomic absorption finish (AU-AA13). Results above 10 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14). Silver is analyzed by 3-acid digestion atomic absorption finish (AAG-13). Results above 100 g/t are analyzed by 30 g fire assay gravimetric finish (ASAG-14, ASAG-13).
For further information concerning QA/QC and data verification matters, key assumptions, parameters, and methods used by the Company to estimate Mineral Reserves and Mineral Resources, and for a detailed description of known legal, political, environmental, and other risks that could materially affect the Company's business and the potential development of Mineral Reserves and Mineral Resources, see the Company's most recently filed Annual Information Form available under the Company's SEDAR+ profile at www.sedarplus.ca and the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.
QUALIFIED PERSONS
Gonzalo Mercado, P. Geo., the Company's Vice President of Exploration and Technical Services and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed and approved the scientific and technical information contained in this news release. Mr. Mercado has verified the exploration data contained in this news release, including the sampling, analytical and test data underlying such information.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.
For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and U.S. securities laws (collectively, "forward‐looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the full extent of the Santo Niño vein; follow-up drilling planned for 2025; statements relating to potential for grade increase of deposits; potential of drilling programs; and extension of mine life. Assumptions may prove to be incorrect and actual results and future events may differ materially from those anticipated. As such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements". Statements concerning proven and probable mineral reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered as and if the property is developed, and in the case of measured and indicated mineral resources or proven and probable mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: material adverse changes; general economic conditions including inflation risks; labour relations; relations with local communities; changes in national or local governments; exchange rate fluctuations; environmental risks; requirements for additional capital; outcomes of pending litigation; unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations as well as those factors discussed in the section entitled "Description of Business - Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca and in the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
The Company believes that the expectations reflected in these forward‐looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.
Cautionary Note to United States Investors
The Company is a "foreign private issuer" as defined in Rule 3b-4 under the United States Securities Exchange Act of 1934, as amended, and is eligible to rely upon the Canada-U.S. Multi-Jurisdictional Disclosure System, and is therefore permitted to prepare the technical information contained herein in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the securities laws currently in effect in the United States. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
Technical disclosure contained in this news release has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reporting standards in Canada with certain estimates prepared in accordance with NI 43-101.
NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning the issuer's material mineral projects.
APPENDIX - DRILL HOLE DETAILS
Table A15: Drill Hole Collar Location, Sample Type, Azimuth, Dip and Total Depth
| Drillhole | East | North | Elev | Azimuth | Dip | Depth (m) | Type |
| SE-24-02 | 581524 | 3320066 | 791.72 | 209.59 | -62.09 | 474 | Core |
| SE-24-03 | 581594 | 3319698 | 773.98 | 340.83 | -44.92 | 825 | Core |
| SE-24-04 | 581302 | 3320292 | 813.43 | 153.99 | -64.48 | 530 | Core |
| SE-24-05 | 581511 | 3320379 | 836.80 | 172.33 | -62.45 | 630 | Core |
| SE-24-06 | 581309 | 3320669 | 808.00 | 171.44 | -62.18 | 276 | Core |
| SE-24-07 | 581309 | 3320669 | 800.00 | 177.00 | -45.00 | 840 | Core |
| SE-24-08 | 581797 | 3320344 | 794.00 | 195.07 | -66.09 | 735 | Core |
| SE-25-09 | 581510 | 3320379 | 836.69 | 194.14 | -67.61 | 762 | Core |
| SE-25-10 | 581795 | 3320343 | 784.46 | 196.38 | -74.84 | 711 | Core |
| SE-25-11 | 581304 | 3320292 | 813.42 | 194.92 | -65.15 | 516 | Core |
| SE-25-12 | 581304 | 3320292 | 813.34 | 195.27 | -54.09 | 570 | Core |
| SE-25-13 | 581512 | 3320379 | 836.52 | 159.79 | -44.97 | 555 | Core |
| SE-25-14 | 581797 | 3320348 | 784.53 | 149.63 | -73.57 | 801 | Core |
| SE-25-15 | 581303 | 3320292 | 813.42 | 213.11 | -44.33 | 480 | Core |
| SE-25-16 | 581305 | 3320292 | 813.45 | 190.15 | -44.86 | 723 | Core |
| SE-25-17 | 582068 | 3320192 | 817.75 | 191.08 | -74.84 | 735 | Core |
| SE-25-18 | 581303 | 3320293 | 813.47 | 219.48 | -54.47 | 477 | Core |
| SE-25-19 | 581303 | 3320293 | 813.64 | 227.50 | -43.57 | 441 | Core |
| SE-25-20 | 581797 | 3320347 | 784.24 | 184.06 | -49.45 | 555 | Core |
| SE-25-21 | 581302 | 3320293 | 813.43 | 236.62 | -44.40 | 477 | Core |
| SE-25-22 | 581796 | 3320347 | 784.69 | 206.82 | -51.92 | 561 | Core |
| SE-25-23 | 581307 | 3320292 | 813.70 | 169.61 | -49.20 | 468 | Core |
| SE-25-24 | 581797 | 3320344 | 794.00 | 195.86 | -43.73 | 504 | Core |
| SE-25-25 | 581302 | 3320293 | 813.43 | 171.86 | -60.10 | 462 | Core |
| EW-24-387 | 583232 | 3319766 | 876.92 | 162.71 | -59.82 | 1500 | Core |
| EW-24-388 | 583419 | 3319716 | 871.26 | 174.77 | -58.45 | 1293 | Core |
| EW-25-389 | 582983 | 3319624 | 898.05 | 167.75 | -55.17 | 1272 | Core |
| EW-25-390 | 582913 | 3319501 | 916.44 | 169.95 | -60.03 | 1386 | Core |
| EW-25-391 | 582805 | 3319381 | 909.74 | 165.00 | -55.83 | 1334 | Core |
| EWUG-25-047 | 583639 | 3319413 | 603.12 | 201.42 | -58.99 | 852 | Core |
| EWUG-25-048 | 583666 | 3319415 | 603.35 | 172.63 | -65.66 | 1008 | Core |
| EWUG-25-049 | 583639 | 3319413 | 603.02 | 180.77 | -64.22 | 971.5 | Core |
| EWUG-25-050 | 583667 | 3319415 | 603.24 | 155.44 | -73.90 | 1149 | Core |
| EWUG-25-051 | 583638 | 3319413 | 603.71 | 194.12 | -69.43 | 1200 | Core |
Notes:
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HIGHLIGHTS
Commenting on this exciting opportunity, Rapid Lithium Managing Director, Martin Holland, said:
“We are very pleased to acquire these high-grade silver assets in a strong silver market. We believe there is an exciting opportunity to rapidly unlock the potential of these assets using modern exploration and expanding the resources. These are exciting times to be adding assets of this quality to our portfolio of critical minerals”.
Background of the Transaction
Conrad Resources Pty Ltd and Webbs Resources Pty Ltd own the following tenements which comprise the Conrad Silver Project and the Webbs Silver Project:
Location
The assets are located in the New England Fold Belt in Northern NSW, accessible by sealed road from Glen Innes and Inverell.
Figure 1: Location of the NSW Webbs and Conrad Silver Projects
Webbs Silver Project
The Webbs Silver Project comprises a high-grade silver bearing lode system located in northern New South Wales. The Webbs Silver Project has a mineral resource estimation reported in accordance with JORC 2012 for a total of 14.2 Moz AgEq at 205 g/t AgEq1.
The work completed by SMG and others to date on the Webbs Silver Project deposit including validation of historic data, relogging and surface mapping, and updated grade-alteration modelling has not only significantly improved the understanding of controls on mineralisation at the Webbs Silver Project but has also highlighted a number of compelling targets for resource expansion and new exploration.1
Exploration programs focused on identifying parallel mineralised structures will commence immediately with a micro gravity survey covering the two main high grade silver rich lodes. Drill permitting is underway with six 500m deep diamond drill holes as a first priority will be drilled at the Webbs South and Webbs Main deposits to collect fresh samples for metallurgical testwork and structural information to allow a new JORC Mineral Resource Estimate to be completed as rapidly as possible. Further drilling will follow this work targeting strike and down dip extensions to grow the silver rich resources. Opportunity exists to use new geophysics technologies to search for blind parallel structures. A budget of A$2.5 million will be allocated to Webbs Silver Project to rapidly complete the work programs.
The Webbs Resource Statement1 consists of an Indicated Resource of 0.8 Mt at 179 g/t Ag, 0.18% Cu, 0.62% Pb, 1.19% Zn and an Inferred Resource of 1.3 Mt at 116 g/t Ag, 0.13% Cu, 0.5% Pb and 1.04% Zn. The resources were calculated at a 30 g/t Ag cut-off and reported to 225 m below surface.
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First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the voting results for its Annual General Meeting of Shareholders held on Tuesday, May 20, 2025 in Vancouver, British Columbia (the "2025 AGM"). Each of the matters that were voted upon at the 2025 AGM are described in detail in the Company's Management Information Circular dated April 9, 2025 (the "Circular"), which is available on the Company's website at www.firstmajestic.com or at www.firstmajesticagm.com.
A total of 281,059,326 common shares of First Majestic were represented at the 2025 AGM, representing 57.99% of the Company's issued and outstanding common shares as at the record date for the meeting. Shareholders voted in favour of all matters brought before the 2025 AGM, except the non-binding Say on Pay Advisory Vote. The specific voting results were as follows:
NUMBER OF DIRECTORS
| Resolution | Votes For | % For | Votes Against | % Against |
| Set the number of directors of the Company at seven | 278,420,085 | 99.08% | 2,583,362 | 0.92% |
ELECTION OF DIRECTORS
| Director Nominee | Votes For | % For | Votes Withheld | % Withheld |
| Keith Neumeyer | 224,054,100 | 99.23% | 1,744,471 | 0.77% |
| Marjorie Co | 224,137,032 | 99.26% | 1,661,538 | 0.74% |
| Thomas F. Fudge, Jr. | 113,883,442 | 50.44% | 111,915,128 | 49.56% |
| Raymond L. Polman | 224,685,632 | 99.51% | 1,112,938 | 0.49% |
| Colette Rustad | 123,790,198 | 54.82% | 102,008,373 | 45.18% |
| Daniel Muñiz Quintanilla | 224,356,034 | 99.36% | 1,442,535 | 0.64% |
| Ayesha Hira | 224,572,081 | 99.46% | 1,226,489 | 0.54% |
APPOINTMENT OF AUDITOR
| Resolution | Votes For | % For | Votes Withheld | % Withheld |
| Appoint Deloitte LLP, Independent Registered Public Accounting Firm, as auditor for the Company to hold office until the next Annual General Meeting | 267,246,357 | 95.10% | 13,757,109 | 4.90% |
The non-binding advisory resolution with respect to the Company's approach to executive compensation as outlined in the Circular was not approved.
SAY-ON-PAY (non-binding advisory vote)
| Resolution | Votes For | % For | Votes Against | % Against |
| Advisory resolution to approve the Company's approach to executive compensation | 92,599,154 | 41.01% | 133,199,406 | 58.99% |
AYESHA HIRA APPOINTED TO FIRST MAJESTIC'S BOARD OF DIRECTORS
First Majestic is pleased to welcome Ayesha Hira to the Company's Board of Directors, effective May 20, 2025, following her election as a director at our 2025 AGM.
Ms. Hira is a seasoned mining executive with 30 years of experience in the sector. She is currently serving as Interim President & CEO, and Director, of Belo Sun Mining Corp., a TSX-listed gold company. Ms. Hira started her career as a geologist, working on diamond, base metals, and gold exploration projects. She then transitioned into capital markets, working in the global mining teams at CIBC World Markets and RBC Capital Markets with North American, UK, Australian, South African, and European listed mining and steel companies. After sixteen years working in capital markets, Ms. Hira spent nearly four years at Lucara Diamond Corp., a Lundin Group company, where she served as VP, Corporate Development & Strategy, focusing on strategic growth and mergers.
In addition to her experience as an executive, Ms. Hira has also held various board positions, previously serving as a board member of Lucara Botswana and Clara Diamond Solutions, as well as being elected to the board of the Responsible Jewellery Council representing the Mining Forum, and being appointed as a committee member with the Natural Diamond Counsel. Ms. Hira is a Chartered Financial Analyst charter-holder with a Bachelor of Science (Honours) in Geology from Queen's University, Canada, and she holds an ICD.D designation from the Institute of Corporate Directors.
ABOUT FIRST MAJESTIC
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The Company presently owns and operates four producing underground mines in Mexico: the Cerro Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, U.S.A.
First Majestic is proud to own and operate its own minting facility, First Mint, LLC, and to offer a portion of its silver production for sale to the public. Bars, ingots, coins and medallions are available for purchase online at www.firstmint.com, at some of the lowest premiums available.
For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.
"signed"
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This news release contains "forward‐looking information" and "forward-looking statements" under applicable Canadian and United States securities laws (collectively, "forward‐looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the time and place of the 2025 AGM. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are discussed in the section entitled "Description of the Business - Risk Factors" in the Company's most recent Annual Information Form for the year ended December 31, 2024 filed with the Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca, and in the Company's Annual Report on Form 40-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise.
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