First Majestic Announces Appointment of VP of Exploration

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) is pleased to announce the appointment of Guillermo Lozano as Vice President of Exploration who will head all exploration activities at the Company’s growing portfolio of projects in Mexico.

First Majestic is pleased to create this new role of VP of Exploration for Mr. Lozano. He will lead a team consisting of the Regional Exploration Manager, the Operations Exploration Manager, the NI 43-101 Control Manager, the Mining Claims Manager and the Technical Services team, in addition to a staff consisting of over 50 geologists and over 100 support staff.

Mr. Lozano has over 30 years of experience in the mineral resource industry in Mexico with extensive experience in exploration, development and production including open pit and underground operations. Prior to joining First Majestic, Mr. Lozano was with Silver Standard Resources, Inc. for a period of 10 years holding the position of Country Manager for Mexico and later promoted to the senior management team as Exploration Director. Mr. Lozano has also worked as Country Manager for Canplats Resources Inc. and was part of the team who discovered the Camino Rojo deposit which was later sold to Goldcorp. Additionally, Mr. Lozano worked for Kennecott Corp. and the Peñoles group. He holds a B.Sc. degree in Geology from the National Polytechnic Institute in Mexico City, a Degree in M.Sc. Degree in Geology at the Missouri University at Columbia, and a MBA in Finance at the University of Texas at El Paso, in addition to a partial Ph.D. in Geology also at the University of Texas.

The Company’s 2012 exploration program, which Mr. Lozano is taking over, is budgeted for 133,758 metres of diamond drilling plus 10,000 line kms of Geophysics. First Majestic controls over 170,000 hectares of mineral rights in Mexico and currently has 21 active drill rigs across eleven silver projects.

Mr. Keith Neumeyer, President and CEO of First Majestic stated; “Mr. Lozano is a very well-known and respected Mexican geologist who we’re very pleased to appoint as VP of Exploration. His years of experience in both underground and open pit mining projects from green fields’ exploration to production will be a significant benefit in advancing and growing all of the First Majestic’s projects.”

The Company’s exploration activities for the past eight years have been led by Mr. Florentino Muñoz who has decided to retire for personal family reasons. His duties as Director of Exploration are becoming a part of a newly restructured geological department which is being designed to effectively manage a growing portfolio and the technological systems that are currently being implemented as part of First Majestic’s hiring of a Chief Information Officer in January. Mr. Muñoz will continue acting on an as needed basis as an exclusive consultant to the Company.

Mr. Keith Neumeyer, President and CEO of First Majestic; “wishes to take this opportunity on behalf of our shareholders and employees to express our appreciation and gratitude for the work performed by Florentino over the several years he worked with the Company. Mr. Muñoz managed one of the most aggressive and successful exploration programs in Mexico which resulted in one of the largest silver resources holders in the industry. We all thank Florentino for his hard work and dedication and our best wishes go out to him in his retirement.”

First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its aggressive corporate growth objectives.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number  1.866.529.2807.

Keith Neumeyer, President & CEO