<SEC-DOCUMENT>0001062993-14-004175.txt : 20140714
<SEC-HEADER>0001062993-14-004175.hdr.sgml : 20140714
<ACCEPTANCE-DATETIME>20140714124303
ACCESSION NUMBER:		0001062993-14-004175
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140714
FILED AS OF DATE:		20140714
DATE AS OF CHANGE:		20140714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MAJESTIC SILVER CORP
		CENTRAL INDEX KEY:			0001308648
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34984
		FILM NUMBER:		14973197

	BUSINESS ADDRESS:	
		STREET 1:		925 WEST GEORGIA STREET
		STREET 2:		SUITE 1805
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L2
		BUSINESS PHONE:		604-688-3033

	MAIL ADDRESS:	
		STREET 1:		925 WEST GEORGIA STREET
		STREET 2:		SUITE 1805
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST MAJESTIC RESOURCE CORP
		DATE OF NAME CHANGE:	20041115
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>First Majestic Silver Corp.: Form 6K - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF" style="font-size: 10pt;">
<hr noshade align="center" width="100%" size=3 color="black">


<p align="center"><font size="5"><strong>UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</strong></font><br>
  Washington, D.C. 20549</p>

<p align="center"><b><font size="5">FORM 6-K</font></b></p>
<p align="center"><b>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
  OR 15d-16 <br>
  UNDER THE SECURITIES EXCHANGE ACT OF 1934</b></p>
<P align=center>For the month of <u><b>July 14, 2014</b></u></P>
<P align=center>Commission File Number <B><u>001-34984</u></B></P>
<p align="center"><b><u><font size=5>FIRST MAJESTIC SILVER CORP. </font></u></b> <br>(Translation of registrant's name into English) </p>

<p align="center"><b><u>925 West Georgia Street, Suite 1805, Vancouver BC V6C 3L2</u></b><br>(Address of principal executive offices) </p>

<p align="center">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</p>
<p align="center">[<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>] Form 20-F &nbsp;&nbsp;[ x ] Form 40-F</p>

<p align="center">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]</p>
<p align="center"> Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [<font style="font-size:1px;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>]</p>
<HR noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">
<p align="center"><img src="fmlogo.jpg" width="194" height="116"></p>
<p align="center"><b><u>SUBMITTED HEREWITH</u></b></p>

<p align="left"><u>Exhibits</u></p>

<table style="font-size: 10pt;" width="100%" border="0" cellspacing="0" cellpadding="0">
<tr><td width="5%" valign="top" bgcolor="#EEEEEE">&nbsp;</td><td width="5%" valign="top" bgcolor="#EEEEEE"><a href="exhibit99-1.htm">99.1</a></td>
<td bgcolor="#EEEEEE"><a href="exhibit99-1.htm">Material Change Report dated
July 14, 2014</a></td>
</tr>
</table>

<p>&nbsp;</p>

<hr noshade align="center" width="100%" size=5 color="black" style="page-break-after:always;">

<p align="center"><B>SIGNATURES </B></p>

<P align=justify>Pursuant to the requirements of the Securities Exchange Act of
  1934, the registrant has duly caused this report to be signed on its behalf by
  the undersigned, thereunto duly authorized. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="130">
  <TR vAlign=top>
    <TD align=left height="15">FIRST MAJESTIC SILVER CORP. </TD>
    <TD align=left width="60%" height="15"  ></TD>
  </TR>
  <TR>
    <TD align=left height="15" ></TD>
    <TD align=left width="60%" height="15"  ></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="15">By: </TD>
    <TD align=left width="60%" height="15"  ></TD>
  </TR>
  <TR>
    <TD align=left height="15" ></TD>
    <TD align=left width="60%" height="15"  ></TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left height="16"><I>/s/ Connie
      Lillico</I> </TD>
    <TD align=left width="60%" height="16"  ></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="15">Connie Lillico </TD>
    <TD align=left width="60%" height="15"  ></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="15">Corporate Secretary </TD>
    <TD align=left width="60%" height="15"  ></TD>
  </TR>
  <TR>
    <TD align=left height="15" ></TD>
    <TD align=left width="60%" height="15"  ></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="9">July 14, 2014</TD>
    <TD align=left width="60%" height="9"
></TD>
  </TR>
</TABLE>
<p>&nbsp; </p>

<hr noshade align="center" width="100%" size=5 color="Black"></BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<!DOCTYPE HTML PUBLIC "Jul1414M.pdf">


<HTML>
<HEAD>
   <TITLE> First Majestic: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A>
<P align=center><B>Form 51-102F3</B> <BR><B><I>Material Change Report</I></B>
<BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left width="10%" ><B>Item 1</B><font size="2"> </TD>
  <TD align=left colSpan=2><B>Name and Address of Company</B></TD></TR>
  <TR>
    <TD align=left width="10%" >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>FIRST MAJESTIC SILVER
      CORP. (the &#147;Company&#148;) </TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>1805 &#150; 925 West Georgia
      Street </TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Vancouver, BC V6C 3L2
      CANADA </TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Telephone: (604)
      688-3033 </TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Facsimile: (604)
      639-8873 </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 2</b></TD>
    <TD align=left colSpan=2><B>Date of Material
      Change</B> </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>July 14, 2014  </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 3</b></TD>
    <TD align=left colSpan=2><B>News Release</B>      </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>The press release was
      disseminated through the services of CNW Group. </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 4</b></TD>
    <TD align=left colSpan=2><B>Summary of Material
      Change</B> </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ></TD>
    <TD align=left  colSpan=2>The
      Company announced that total production at its five operating silver mines
      in Mexico for the second quarter ending June 30, 2014 reached a new
      quarterly record of 3,855,224 equivalent ounces of silver, representing an
      18% increase compared to the same quarter in 2013. </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 5</b></TD>
    <TD align=left  colSpan=2><STRONG>Full Description of Material Change</STRONG> </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left width="5%" ><B>5.1</B> </TD>
    <TD align=left width="85%"><B>Full Description of Material
      Change</B> </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>See Schedule &#147;A&#148;
      attached hereto. </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left width="5%" ><B>5.2</B> </TD>
    <TD align=left width="85%"><B>Disclosure for Restructuring
      Transactions</B> </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left width="5%"  >&nbsp;</TD>
    <TD align=left width="85%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Not applicable.    </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 6</b></TD>
    <TD align=left colSpan=2><B>Reliance on
      subsection 7.1(2) or (3) of National Instrument 51-102</B> </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Not applicable  </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 7</b></TD>
    <TD align=left colSpan=2><B>Omitted
      Information</B> </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Not applicable.    </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 8</b></TD>
    <TD align=left colSpan=2><B>Executive Officer</B>      </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Keith Neumeyer,
      President &amp; CEO </TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
    <TD align=left colSpan=2>Telephone: (604)
      688-3033 Facsimile: (604) 639-8873 </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" ><b>Item 9</b></TD>
    <TD align=left colSpan=2><B>Date of Report</B>      </TD></TR>
  <TR>
    <TD align=left width="10%"  >&nbsp;</TD>
    <TD align=left  colSpan=2>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left width="10%" >&nbsp; </TD>
  <TD align=left colSpan=2>July 14, 2014  </TD></TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=center><U>SCHEDULE &#147;A&#148;</U> <BR>
  <BR><B><font size="5">FIRST MAJESTIC SILVER CORP.
</font></B><BR>
Suite 1805 &#150; 925 West Georgia Street <BR>Vancouver, B.C., Canada V6C 3L2
<BR>Telephone: (604) 688-3033 Fax: (604) 639-8873 <BR>Toll Free: 1-866-529-2807
<BR>Web site: www.firstmajestic.com; E-mail: info@firstmajestic.com <BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
    <TD align=right style="BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD colspan="2" align=center><b><font size="5">NEWS RELEASE </font></b></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=right>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>TSX &#150; FR </TD>
    <TD align=right width="50%">July 14, 2014 </TD></TR>
  <TR vAlign=top>
    <TD align=left>NYSE - AG </TD>
    <TD align=left width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>Frankfurt &#150; FMV (WKN: A0LHKJ) </TD>
    <TD align=left width="50%"></TD></TR></TABLE>
<P align=center><B><U><font size="4">New Record of 3.86 million Silver Eqv. Ounces Produced in
Q2; <br>
Announces Spin-out of Non-Core Exploration Properties</font></U></B> </P>
<P align=justify>First Majestic Silver Corp. ("First Majestic" or the "Company")
is pleased to announce that total production at its five operating silver mines
in Mexico for the second quarter ending June 30, 2014 reached a new quarterly
record of 3,855,224 equivalent ounces of silver, representing an 18% increase
compared to the same quarter in 2013. </P>
<P align=justify>Total silver production for the quarter consisted of 3,098,218
ounces of silver, representing an increase of 12% compared to the same quarter
in 2013. In addition, 9,131,149 pounds of lead and 2,637,967 pounds of zinc were
produced, representing an increase of 54% and a decrease of 9%, respectively,
compared to the same quarter of the previous year. Also produced were 2,801
ounces of gold, representing an increase of 40% compared to the second quarter
of 2013. </P>
<P align=justify>Keith Neumeyer, President &amp; CEO of First Majestic, states,
&#147;Higher grades and recoveries in the second quarter propelled total silver
production to over 3 million ounces, the highest production rate in the
Company&#146;s history. This achievement was partially due to a 59% increase in
silver production at San Martin, when compared to the prior quarter, due to
higher milling rates following the completion of the recent plant expansion and
an increase in silver grades.&#148; </P>
<P align=justify>Mr. Neumeyer continues, &#147;Our focus in the second
  half of 2014 will be to continue to seek and implement new technologies and
  process automations with the objective to further increase efficiencies and
  reduce costs.&#148; </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=center>2</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left><B><U>Consolidated </U></B><B><U></U></B><B><U>Production
      </U></B><B><U></U></B><B><U>Results</U></B> </TD>
    <TD align=center width="13%"><B>Quarter </B><B></B><B>Ended</B>
      <BR><B>June </B><B></B><B>30, </B><B></B><B>2014</B> </TD>
    <TD align=center width="13%"><B>Quarter </B><B></B><B>Ended</B>
      <BR><B>June </B><B></B><B>30, </B><B></B><B>2013</B> </TD>
    <TD align=center width="13%"><B>%</B><B></B><B>Change
      </B><B></B><B>over</B> <BR><B>Prior </B><B></B><B>Year&#146;s</B><B></B>
      <BR><B>Quarter</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Ore processed/tonnes milled </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">671,024 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">668,398 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">0% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Total production - ounces of silver equivalent </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">3,855,224 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">3,268,117 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">18% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Total silver ounces produced </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">3,098,218 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">2,767,966 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">12% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Silver grade (g/t) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">212 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">201 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">6% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Silver recovery (%) </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">68 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">64 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">5% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Pounds of lead produced </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">9,131,149 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">5,946,539 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">54% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Pounds of zinc produced </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">2,637,967 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">2,898,093 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">-9% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Gold ounces produced </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">2,801 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">1,995 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">40% </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Tonnes of Iron ore produced </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">515 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">5,076 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="13%">-90% </TD>
  </TR></TABLE></DIV>
<P align=justify><B><U>Operational Review:</U></B><B> </B></P>
<P align=justify>The total ore processed during the quarter at the Company's
five operating silver mines: La Encantada, La Parrilla, Del Toro, San Martin and
La Guitarra, amounted to 671,024 tonnes, reflecting no significant variation
year-over-year and represents a 5% increase over the previous quarter. The
increase in tonnes compared to the prior quarter was primarily due to higher
throughput rates at both Del Toro and San Martin following each of their
respective expansions and offset by a slight reduction in tonnes at La
Parrilla.</P>
<P align=justify>Average silver grades in the quarter for the five mines
increased by 6% to 212 g/t compared to 201 g/t in the second quarter of 2013 and
relatively consistent with the previous quarter. Combined silver recoveries
averaged 68% during the quarter, up from 64% compared to the same quarter in the
prior year and higher than the first quarter average of 66%. These improvements
were primarily the result of higher recoveries at La Encantada and San Martin.</P>
<P align=justify>The Company's underground development in the second quarter
consisted of 12,497 metres, relatively unchanged compared to 12,215 metres
completed in the previous quarter.</P>
<P align=justify>During the quarter, 14 diamond drill rigs were operating at the
Company&#146;s five operations. The Company completed 12,508 metres of diamond
drilling in the quarter compared to 7,190 metres in the prior quarter,
representing a 74% increase. A substantial portion of the current drilling is
focused at La Encantada to support the preparation and release of an updated NI
43-101 Technical Report. </P>
<P align=justify>The table below represents the operating parameters at each of
the Company&#146;s five producing silver mines.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>3</P>
<P align=justify><B><U>Mine by Mine Quarterly Production Table:</U></B><B>
</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center style="border-left-style: solid; border-left-width: 1; border-top-style: solid; border-top-width: 1" bordercolor="#000000" >&nbsp; </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Ore</B> </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Tonnes</B> </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Silver Grade</B> </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Silver</B> </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Silver Oz</B>
    </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Gold Oz</B> </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Pounds of</B>
    </TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000"><B>Pounds of </B></TD>
    <TD align=center width="8%" style="border-top-style: solid; border-top-width: 1" bordercolor="#000000" >&nbsp;<STRONG>Tonnes of
    </STRONG></TD>
    <TD align=center width="8%" style="border-right-style: solid; border-right-width: 1; border-top-style: solid; border-top-width: 1" bordercolor="#000000"
      >&nbsp;<STRONG>Equivalent</STRONG> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-left-style:solid; border-left-width:1" align=center bordercolor="#000000"
      ><B>Mine</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000"><B>Processed</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000"><B>per Day</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000"><B>(g/t)</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000"><B>Recovery %&nbsp;&nbsp;</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="8%" bordercolor="#000000"
    ><STRONG>Produced</STRONG>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="8%" bordercolor="#000000"
    ><STRONG>Produced</STRONG>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000"><B>Lead</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000">&nbsp; &nbsp; &nbsp;<B>Zinc</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000"><B>Iron</B> </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-right-style:solid; border-right-width:1" align=center
      width="8%" bordercolor="#000000"><B>Silver Ounces</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff style="border-left-style: solid; border-left-width: 1" bordercolor="#000000"
      ><B>LaEncantada</B> </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">&nbsp;183,177 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">&nbsp;2,013 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">306 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">60% </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">1,073,636 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">24 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">- </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">- </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">515 </TD>
    <TD align=center width="8%" bgColor=#e6efff style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">&nbsp;1,079,122 </TD></TR>
  <TR vAlign=top>
    <TD align=center style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" ><B>LaParrilla</B> </TD>
    <TD align=center width="8%" bordercolor="#000000">&nbsp;171,617 </TD>
    <TD align=center width="8%" bordercolor="#000000">&nbsp;1,886 </TD>
    <TD align=center width="8%" bordercolor="#000000">164 </TD>
    <TD align=center width="8%" bordercolor="#000000">79% </TD>
    <TD align=center width="8%" bordercolor="#000000">&nbsp;716,045 </TD>
    <TD align=center width="8%" bordercolor="#000000">239 </TD>
    <TD align=center width="8%" bordercolor="#000000">6,003,245 </TD>
    <TD align=center width="8%" bordercolor="#000000">2,496,990 </TD>
    <TD align=center width="8%" bordercolor="#000000">- </TD>
    <TD align=center width="8%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">&nbsp;1,142,433 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff style="border-left-style: solid; border-left-width: 1" bordercolor="#000000"
      ><B>DelToro</B> </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">&nbsp;174,645 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">&nbsp;1,919 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">197 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">66% </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">&nbsp;730,580 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">164 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">3,127,904 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">&nbsp; &nbsp;140,977 </TD>
    <TD align=center width="8%" bgColor=#e6efff bordercolor="#000000">- </TD>
    <TD align=center width="8%" bgColor=#e6efff style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">&nbsp; &nbsp; &nbsp;899,710
  </TD></TR>
  <TR vAlign=top>
    <TD align=center style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" ><B>SanMartin</B> </TD>
    <TD align=center width="8%" bordercolor="#000000">&nbsp; &nbsp;96,278 </TD>
    <TD align=center width="8%" bordercolor="#000000">&nbsp;1,058 </TD>
    <TD align=center width="8%" bordercolor="#000000">196 </TD>
    <TD align=center width="8%" bordercolor="#000000">74% </TD>
    <TD align=center width="8%" bordercolor="#000000">&nbsp;449,045 </TD>
    <TD align=center width="8%" bordercolor="#000000">939 </TD>
    <TD align=center width="8%" bordercolor="#000000">- </TD>
    <TD align=center width="8%" bordercolor="#000000">- </TD>
    <TD align=center width="8%" bordercolor="#000000">- </TD>
    <TD align=center width="8%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">&nbsp; &nbsp; &nbsp;510,697 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: 2px solid #000000; ; border-left-style:solid; border-left-width:1" align=center bgColor=#e6efff bordercolor="#000000"
    ><B>LaGuitarra</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">&nbsp; &nbsp;45,307 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">498 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">110 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">81% </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">&nbsp;128,912 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">&nbsp;1,435 </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">- </TD>
    <TD style="BORDER-BOTTOM: #000000 2px solid" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">- </TD>
    <TD style="BORDER-BOTTOM: 2px solid #000000; ; border-right-style:solid; border-right-width:1" align=center width="8%"
    bgColor=#e6efff bordercolor="#000000">&nbsp; &nbsp; &nbsp;223,262 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-left-style:solid; border-left-width:1" align=center bordercolor="#000000"
      ><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000">&nbsp;671,024 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000">&nbsp;7,374 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="8%" bordercolor="#000000">212
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="8%" bordercolor="#000000">68%
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000">3,098,218 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000">&nbsp;2,801 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000">9,131,149 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="8%" bordercolor="#000000">2,637,967 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="8%" bordercolor="#000000">515
    </TD>
    <TD style="BORDER-BOTTOM: 1px solid #000000; ; border-right-style:solid; border-right-width:1" align=center
      width="8%" bordercolor="#000000">&nbsp;3,855,224 </TD></TR></TABLE>
<P align=justify>The following prices were used in the calculation of silver
equivalent ounces: Silver: $19.62 per ounce; Gold: $1,289 per ounce; Lead: $0.95
per pound; Zinc $0.94 per pound and Iron $149 per tonne. </P>
<P align=justify><B><U>At the La Encantada Silver Mine:</U></B><B> </B></P>
<UL style="TEXT-ALIGN: justify">
  <LI>Silver recoveries averaged 60% during the quarter, the single best quarter
  in the past five years of operation, primarily due to lower manganese grades
  and the elimination of old tailings fed to the mill.
  <LI>A total of 3,095 metres of underground development were completed in the
  second quarter compared to 2,842 metres of development in the previous
  quarter. Underground mining continues from the Azul y Oro vein and the "990"
  and "990-2" chimneys along with some additional production from the Buenos
  Aires extension and the Regalo Vein and Breccia.
  <LI>Four drill rigs were active underground at La Encantada during the
  quarter. A total of 5,551 metres of exploration and definition drilling was
  completed in the second quarter compared to 5,923 metres of drilling in the
  previous quarter. </LI></UL>
<P align=justify><B><U>At the La Parrilla Silver Mine:</U></B><B> </B></P>
<UL style="TEXT-ALIGN: justify">
  <LI>During the quarter, the flotation circuit processed 93,951 tonnes having
  an average silver grade of 206 g/t and an 87% recovery while the cyanidation
  circuit processed 77,666 tonnes having an average silver grade of 114 g/t and
  a 61% recovery.
  <LI>Mine development within San Marcos continues to advance in preparation of
  increasing underground oxide production levels. During the quarter, 454 metres
  were developed along the oxidized San Marcos vein with an average silver grade
  of 175 g/t and average width of 2.8 metres. Higher rates of underground
  extraction of oxide ore are expected to commence in the fourth quarter and
  will replace the lower grade oxide ore from the Quebradillas open pit. As a
  result of the transition from open pit to underground mining, the Company is
  projecting an increase in oxide silver grades along with higher expected
  recoveries in the cyanidation circuit.
  <LI>Recent underground development along ore haulage level 11, now over 1,390
  metres in length, has intersected numerous previously unknown mineralized ore
  veins between the San Marcos and Rosario mines. These new vein discoveries are
  currently being scheduled for further exploration and exploitation over the
  upcoming quarters.
  <LI>During the quarter, sulphide ore production from the Vacas mine averaged
  447 tpd with average grades of 251 g/t silver, 4.5% of lead and 5.4% of zinc.
  <LI>Underground development completed in the quarter totaled 2,033 metres
  compared with 2,255 metres developed in the previous quarter.
  <LI>Two underground drill rigs were active within the La Parrilla property
  during the quarter. A total of 2,247 metres were drilled in the second quarter
  compared to 448 metres in the previous quarter. </LI></UL>
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<P align="center">
4</P>
<P align="justify">
<B><U>At the Del Toro Silver Mine:</U></B><B> </B></P>
<UL style="text-align:justify;">
<LI>
During the quarter, Del Toro processed 174,645 tonnes of ore with an average silver grade of 197 g/t. Average metallurgical recoveries for silver were 66% for a total production of 730,580 silver ounces representing an increase of 13% compared to
the previous quarter and a new quarterly record.</LI>
<LI>
The flotation circuit continued to operate at higher levels than previously planned, having processed 121,752 tonnes during the quarter with an average silver grade of 213 g/t and a 67% recovery. The cyanidation circuit processed 52,893 tonnes with
an average silver grade of 162 g/t and a 64% recovery of silver.</LI>
<LI>
Due to the large transition ore area within the San Juan ore body which contains high lead content, it has been determined that the most economical method of production is to process this transition ore through flotation rather than cyanidation.
Until sufficient oxide ores are developed, all ores from San Juan, Perseverancia, San Nicolas and other areas will be processed through flotation.</LI>
<LI>
The construction of the larger 115kV power line is expected to be completed by the end of the July with initial electrical testing to begin in August. Once completed, the Del Toro operation will be fully connected to the Mexican power grid allowing
for further power cost reductions anticipated to be achieved in September.</LI>
<LI>
Underground development completed in the quarter totaled 2,972 metres compared with 2,322 metres developed in the previous quarter. Drift development along the Lupita vein at level 10 continues to show economic mineralization with average grades of
288 g/t silver, 6.0% lead and 2.5% zinc.</LI>
<LI>
During the quarter, two underground drill rigs were active at Del Toro. Total exploration metres drilled in the second quarter amounted to 1,108 metres compared to 297 metres drilled in the previous quarter.</LI>
</UL>
<P align="justify">
<B><U>At the San Martin Silver Mine:</U></B><B> </B></P>
<UL style="text-align:justify;">
<LI>
During the quarter, San Martin set a new quarterly production record of 449,045 silver ounces representing a 59% increase compared to the previous quarter. The increase in silver production is a result of the successful plant expansion which allowed
for a 23% increase in tonnes, a 21% increase in silver grades and a 7% increase in recoveries when compared to the previous quarter.</LI>
<LI>
Underground development completed in the second quarter totaled 2,599 metres compared with 3,219 metres of development in the previous quarter.</LI>
<LI>
Two underground drill rigs were active within the San Martin property during the quarter. Total metres drilled in the second quarter amounted to 1,377 metres compared to 276 metres of drilling in the previous quarter.</LI>
</UL>
<P align="justify">&nbsp;</P>
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<p align="center"> 5</p>
<P align="justify"><B><U>At the La Guitarra Silver Mine:</U></B><B> </B></P>
<UL style="text-align:justify;">
<LI>
During the quarter, total production consisted of 128,912 silver ounces and 1,435 gold ounces. This represents a 13% increase in silver production over the previous quarter primarily due to a 16% increase in the silver grade.</LI>
<LI>
Continued improvements in dilution and grade control as well as the advances in laboratory procedures have supported the increase of silver grade during the quarter.</LI>
<LI>
Mine development at the Joya Larga structure within the El Coloso area has now reached 737 metres along the vein. A crosscut to access the Jessica vein is now 47 metres in length and requires an additional 120 metres to be developed in order to gain access to this higher silver grade area.</LI>
<LI> A total of 1,798 metres of development were completed in the second quarter compared to 1,577 metres of development in the previous quarter.</LI>
<LI>
Four drill rigs consisting of three underground and one on surface were active in the second quarter within the La Guitarra property. Total metres drilled in the quarter amounted to 2,225 metres compared to 246 metres drilled in the previous
quarter.</LI>
</UL>
<P align="justify">
<B><U>Other Developments:</U></B><B> </B></P>
<P align="justify">
On July 1, 2014, First Majestic spun-out its wholly owned subsidiary Minera Terra Plata, S.A. de C.V. (&ldquo;Terra Plata&rdquo;), to Sundance Minerals Ltd., a private exploration company focused on precious metal and base metal projects in Mexico
and the United States, pursuant to which Sundance agreed to sell 100% of its shares to Albion Petroleum Ltd. (TSXV: ABP.H), a capital pool company listed on the TSX Venture Exchange. Terra Plata owns a 100% interest in a number of grass roots
exploration projects which include the Pe&ntilde;asco Quemado Project, the La Frazada Project and the Los Lobos Project, properties that First Majestic acquired through its acquisition of Silvermex in July of 2012.</P>
<P align="justify">
After Sundance&rsquo;s completion of the Terra Plata acquisition, Albion Petroleum Ltd. (TSXV: ABP.H), agreed to acquire Sundance by the issuance of common shares to Sundance shareholders by way of a plan of arrangement under the Business
Corporations Act of British Columbia and to continue once listed on the TSXV under the name of First Mining Finance Corp. (&ldquo;First Mining&rdquo;). Subject to satisfaction or waiver of the conditions by the parties involved, the proposed
transaction is expected to complete on or about September 15, 2014. Additional details on the plan of arrangement are expected to be released in September.</P>
<P align="justify">
Following the completion of the proposed transaction, it is anticipated that First Majestic will distribute all shares of First Mining which it receives to its shareholders by way of dividend in kind, and that First Mining will use its reasonable
commercial efforts to qualify the distribution of such shares to US residents. </P>
<P align="justify">
Also during the quarter, the Company repurchased 40,000 of its common shares on the Toronto Stock Exchange at an average purchase price of CDN&#36;9.96 per share under its Normal Course Issuer Bid.</P>
<P align="justify">
First Majestic is a mining company focused on silver production in Mexico 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. </P>
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<p align="center"> 6</p>
<P align="justify">FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807. </P>
<P align="justify">
FIRST MAJESTIC SILVER CORP. </P>
<P align="justify">
<I>"signed" </I></P>
<P align="justify">
Keith Neumeyer</P>
<P align="justify"> President &amp; CEO</P>
<P align="justify">&nbsp;</P>
<P align="justify">
<B>Cautionary Note Regarding Forward Looking Statements</B> <br>
This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial
performance and condition of First Majestic Silver Corp. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver and other metals, the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines,
hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation,
title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or 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 are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of First Majestic Silver Corp. to be
materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture
operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; possible
variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in
the completion of development or construction activities, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in First Majestic Silver Corp.'s Annual Information Form for the year ended December
31, 2013, available on <U>www.sedar.com</U>, and Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although First Majestic Silver Corp. 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. 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. First Majestic Silver Corp. does not undertake to update any
forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
