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First Majestic Announces Voting Results from Annual General & Special Meeting

First Majestic Silver Corp. (NYSE: AG) (TSX: FR) ("First Majestic" or the "Company") is pleased to announce the voting results for its annual general and special meeting held on May 26, 2022.

A total of 125,762,791 shares were represented at the meeting, being 48.09% of the Company's issued and outstanding common shares. Shareholders approved all matters brought before the meeting as follows:

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First Majestic Announces Proposed Sale of the La Guitarra Silver Mine

First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the "Company" or "First Majestic") is pleased to announce that it has entered into a definitive agreement dated May 24, 2022 to sell its 100% owned past producing La Guitarra Silver Mine located in the Temascaltepec mining district, Mexico State to Sierra Madre Gold & Silver Ltd. ("Sierra Madre") (SM: TSX.V) for total consideration of US$35 million (the "Transaction"). It is a condition to closing of the Transaction that Sierra Madre raise a minimum of CDN$10 million in a private placement concurrent with or prior to closing of the Transaction.

Total consideration consists of 69,063,076 Sierra Madre shares at a deemed price of $0.65 per Sierra Madre Share, having an aggregate value of US$35 million. Upon closing, First Majestic will also be granted a 2% net smelter return royalty ("NSR") on all mineral production from the La Guitarra concessions, with the NSR subject to a 1% buy-back option for US$2 million. The equity component of the consideration will be paid upon closing of the Transaction.

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First Majestic Reports First Quarter Financial Results and Quarterly Dividend Payment

First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the "Company" or "First Majestic") is pleased to announce the unaudited interim consolidated financial results of the Company for the first quarter ended March 31, 2022. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless stated otherwise.

FIRST QUARTER 2022 HIGHLIGHTS

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