First Majestic Silver Corp. (NYSE: AG) (TSX: FR) (the "Company" or "First Majestic") is pleased to announce positive drill results from its ongoing exploration program at the Jerritt Canyon Gold Mine ("Jerritt Canyon") located in Elko County, Nevada. Since acquiring the mine on April 30, 2021, the Company has completed over 70,000 metres in exploration drill holes consisting of step-out and greenfield targets designed to increase the confidence of the mineral resource and add new ounces. In 2022, the Company plans to drill approximately 135,000 metres at Jerritt Canyon with a focus primarily on the SmithSSX mines, and the Winters Creek, Waterpipe, Wheeler, and Murray areas.
The Company is also pleased to announce that the United States Forest Service ("USFS") has approved an exploration permit to conduct activities across 42,976 acres (17,976 hectares) of USFS land at Jerritt Canyon. This permit allows for up to 500 acres of newly constructed exploration roads and up to 1,100 new drill pads. The Company is now prioritizing exploration drill targets and is expected to commence drilling on July 1, 2022.