First Majestic Reports Continued Exploration Success at Santa Elena and Announces Senior Management Update

Core Insights - First Majestic Silver Corp. has announced significant expansions in gold and silver mineralization at the Santo Niño and Navidad discoveries, with new drilling results exceeding the previously declared 2024 Inferred Resources [1][5][7] - The company is initiating scoping-level studies for potential mining strategies at both discoveries, which will guide future development [2][4] - Metallurgical testing indicates excellent recovery rates for gold and silver, exceeding 95%, confirming compatibility with the Santa Elena processing plant [3][16] Exploration and Drilling Highlights - At Santo Niño, 15,307 meters of drilling over 32 holes have defined extensive mineralization, extending over 1,100 meters by 400 meters, with true thickness ranging from 2.5 meters to 5.0 meters [5][13] - At Navidad, 10,161 meters of drilling has been completed, revealing significant intercepts that extend over 1,200 meters by 400 meters, with an average true thickness of 3.0 meters to 4.0 meters [7][19] - The Luna Zone has seen 11,190 meters of infill drilling, enhancing geological understanding and supporting the conversion of Inferred Mineral Resources to Indicated Mineral Resources [8][19] Management and Strategic Developments - Mani Alkhafaji has been promoted to President & Chief Corporate Development Officer, effective January 1, 2026, as part of the company's growth strategy [31][32] - The company plans to increase throughput at the Santa Elena plant from approximately 3,200 tonnes per day to 3,500 tonnes per day by the end of 2026, reflecting confidence in long-term operations [4][11] District Exploration - The Santa Elena District has completed approximately 66,800 meters of exploration drilling in 2025, exceeding the planned 64,000 meters, indicating a proactive approach to exploration success [11][19] - The exploration program continues to yield positive results across multiple targets, reinforcing the district's potential for further mineral resource additions [11][19]