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VANCOUVER, British Columbia, Jan 15, 2020 (GLOBE NEWSWIRE via COMTEX) — Aboriginal Majestic Argent Corp. (“First Majestic” or the “Company”) is admiring to advertise the Company’s fourth division and abounding year 2019 assembly results. In addition, the Aggregation is assured to absolution its 2020 production, bulk and basic guidance, as able-bodied as host a appointment call, on January 21, 2020. Fourth division and abounding year 2019 banking after-effects are appointed to be appear on February 19, 2020.



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2019 HIGHLIGHTS

— Absolute assembly accomplished 25.6 actor agnate ounces of silver, apery a 15% admission over 2018 and at the top end of the 2019 advice ambit of bearing 24.4 to 26.0 actor argent agnate ounces



— Argent assembly accomplished 13.2 actor ounces, apery a 13% admission over 2018 and aural the 2019 advice ambit of bearing 12.8 to 13.5 actor ounces

— Achieved almanac circumscribed boilerplate argent recoveries of 86%, the accomplished in the Company’s 17-year history



— Successfully commissioned the new 3,000 tpd high-intensity cutting (“HIG”) comminute at Santa Elena authoritative it the alone whole-ore, hard-rock mining appliance of this technology in all of Latin America

— Commenced barricade and admission development activities at Santa Elena’s Ermitano activity in beforehand of antecedent assembly appointed for aboriginal 2021

— Ended the year with a able banknote and banknote equivalents antithesis of US$169.0 actor

FOURTH QUARTER HIGHLIGHTS

— Absolute assembly accomplished 6.2 actor agnate ounces of silver, apery a slight abatement over the above-mentioned division primarily due to lower gold grades and a abridgement in tonnes formed at Santa Elena in the ages of December due to abundant rains impacting the adeptness to aftermath from the abundance bleed pads

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— Argent assembly accomplished 3.3 actor ounces, constant with the above-mentioned division

— Almanac boilerplate argent recoveries at Santa Elena of 94%, up from 91% in the above-mentioned division due to the acknowledged accession of the HIG comminute

— La Encantada produced 987,630 argent ounces, appearance a five-year annual assembly record, up 12% from the above-mentioned division

Total assembly in 2019 consisted of 13.2 actor ounces of silver, 134,580 ounces of gold, 7.9 actor pounds of advance and 3.7 actor pounds of zinc. Absolute assembly in the fourth division of 2019 consisted of 3.3 actor ounces of silver, 33,176 ounces of gold and 0.9 actor pounds of lead.

“First Majestic acquaint accession almanac year in 2019 bearing 25.6 actor argent agnate ounces afterward our aboriginal abounding year of assembly from the San Dimas abundance and several acknowledged avant-garde projects that accept decidedly added metallurgical recoveries at our Santa Elena and La Encantada operations,” said Keith Neumeyer, President & CEO. “During the fourth quarter, Santa Elena’s new HIG comminute ambit connected to beat our expectations with argent and gold recoveries accomplishing new annal of 94% and 96%, respectively. At La Encantada, argent assembly hit accession five-year aerial due to connected improvements in underground assembly from the San Javier and La Prieta areas. Finally, San Dimas had a able accomplishment to 2019 bearing over 3.5 actor argent agnate ounces in the fourth quarter.”

Production Details Table:

QUARTERLY REVIEW

Total ore candy during the division at the Company’s argent mines amounted to 626,482 tonnes, apery a 4% abatement compared to the antecedent quarter. The slight abatement in tonnes candy compared to the above-mentioned division was primarily due to processing lower volumes at Santa Elena from the old abundance bleed pad due to abundant rains as able-bodied as the acting abeyance of milling activities at La Parrilla on September 2, 2019, partially account by college burden at La Encantada.

Consolidated argent grades in the division averaged 189 g/t compared to 181 g/t in the antecedent quarter. This 4% admission was primarily due to college argent grades at Santa Elena and the aboriginal abounding division exclusion of La Parrilla’s assembly afterward the abeyance in September 2019. Circumscribed gold grades were almost banausic in the division averaging 1.71 g/t compared to 1.76 g/t in the above-mentioned quarter.

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Consolidated argent and gold recoveries averaged 88% and 97% in the fourth division of 2019 and constant with the antecedent quarter. The Aggregation continues to apprehend added improvements in recoveries associated with the accession of a new 3,000 tpd HIG comminute at San Dimas in 2020.

MINE BY MINE PRODUCTION TABLE

*Certain amounts apparent may not add absolutely to the absolute bulk due to rounding differences.

*The afterward prices were acclimated in the adding of argent agnate ounces: Silver: $17.32 per ounce; Gold: $1,481 per ounce; Lead: $0.93 per pound.

*The La Parrilla operation was placed on acting abeyance on September 2, 2019 and appropriately no assembly was attributed in the fourth division of 2019.

At the San Dimas Silver/Gold Mine:

— During the quarter, San Dimas produced 1,658,721 ounces of argent and 21,713 ounces of gold for a absolute assembly of 3,516,117 argent agnate ounces and constant compared to the above-mentioned quarter.

— The comminute candy a absolute of 182,265 tonnes with boilerplate argent and gold grades of 305 g/t and 3.83 g/t, respectively. The high-grade Victoria, Jessica and Roberta veins contributed about 135,620 tonnes during the quarter.

— Argent and gold recoveries were constant during the division averaging 93% and 97%, respectively.

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— During the quarter, rehabilitation efforts connected central the accomplished bearing Tayoltita abundance with arena support, sampling, mapping and conduct activities in adjustment to adapt for the restart of assembly by the end of the aboriginal division and is accepted to admission up to 300 tpd by the end of 2020. The Tayoltita abundance was the aboriginal mining breadth at San Dimas and accepted to accommodate college argent grades. The abundance aperture is amid about 150 metres abroad from the ore pad acclimated to augment the crushing circuit.

— In October, an acceding was accomplished with a bounded ejido accumulation to accretion admission to the northwest area of the acreage accoutrement a absolute of 9,000 hectares. This acceding allows the Aggregation to activate apparent analysis activities and install blast basement to abetment the underground mining operations.

At the Santa Elena Silver/Gold Mine:

— During the quarter, Santa Elena produced 619,321 ounces of argent and 11,391 ounces of gold for a absolute assembly of 1,592,397 argent agnate ounces, absorption a 14% abatement compared to the above-mentioned quarter. The abatement was primarily due to a 14% abatement in tonnes formed due to abundant rains during the ages of December.

— The comminute candy a absolute of 196,640 tonnes, consisting of 129,833 tonnes (approximately 66% of production) of underground ore and 66,807 tonnes (approximately 34% of production) from the aloft arena abundance bleed pad. Due to the abundant rains in December, the bulk of absolute actuality sourced from aloft arena abundance bleed pads was decidedly reduced.

— Argent and gold grades from underground ore averaged 142 g/t and 2.52 g/t, respectively. Argent and gold grades from the aloft arena abundance bleed pad averaged 32 g/t and 0.61 g/t, respectively.

— Argent and gold recoveries accomplished a new almanac averaging 94% and 96%, respectively, during the quarter.

— In December, the Aggregation began the 3,000 accent development affairs at the Ermitano activity which is advised to adapt bristles assembly levels with all associated mining basement above-mentioned to basic assembly in aboriginal 2021. The assembly from Ermitano is accepted to displace the accepted augment from the old abundance pads which is currently authoritative up about 40% of the augment to the mill.

At the La Encantada Argent Mine:

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 I-13 Formular (Arrival/Departure Record)

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At the Del Toro Argent Mine:

— During the quarter, Del Toro produced a absolute of 133,042 argent agnate ounces absorption a 6% admission compared to the above-mentioned division primarily due to a 14% admission in argent grades and a 17% admission in advance grades, hardly account by a 5% abatement in tonnes milled.

— Argent grades and recoveries during the division averaged 131 g/t and 74%, respectively.

— Advance grades and recoveries averaged 2.7% and 58%, respectively, bearing a absolute of 0.9 actor pounds of advance apery a 1% admission compared to the antecedent quarter.

APPOINTMENT OF NEW DIRECTOR

The Board of Directors accept appointed Dr. Nicole Adshead-Bell as a Director of the Aggregation able January 1, 2020.

Dr. Adshead-Bell is a geologist with over 24 years of basic markets and mining area experience, including a accumulative of 12 years as an Independent Director for about listed ability companies and six added years as a Director for the non-profit Association for Mineral Exploration. Her career includes actuality CEO and Director of ASX-listed Beadell Assets Ltd., a gold mining company, above-mentioned to its accretion in 2019; Director of Mining Analysis at Sun Valley Gold LLC (an SEC registered advance advisor) and Managing Director of Advance Banking at Haywood Securities. Nicole is currently President of Cupel Advising Corp., a aggregation she founded to focus on mining area investments and accommodate cardinal advisory, due activity and analysis casework to institutional funds and mining companies. She accelerating with a Ph.D. in Structural-Economic Geology from James Cook University, North Queensland, Australia.

In addition, the Aggregation announces the retirement of Dr. David Shaw from its Board of Directors able December 31, 2019. Dr. Shaw has served as Director of the Aggregation back 2005.

Keith Neumeyer, President and CEO of Aboriginal Majestic states, “On account of Aboriginal Majestic’s Board of Directors, I am absolute admiring to acceptable Nicole to the Company. We are assured that Nicole’s proficiencies, acquaintance and angle will be of abundant bulk to Aboriginal Majestic as the Aggregation grows. I would additionally like to acknowledge David for his contributions to the Board and the Aggregation over the aftermost 15 years. He played an active role in abounding of the Company’s accretion due activity requirements and I ambition him success in all of his approaching endeavors.”

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CONFERENCE CALL

The Aggregation will be captivation a appointment alarm and webcast on Tuesday, January 21, 2020 at 8 am PST (11 am EST) to altercate the annual assembly after-effects as able-bodied as its 2020 production, bulk and basic guidance.

To participate in the appointment call, amuse punch the following:

Participants should punch in 10 account above-mentioned to the conference.

Click on WEBCAST on the Aboriginal Majestic homepage as a accompanying audio webcast of the appointment alarm will be acquaint at www.firstmajestic.com.

The appointment alarm will be recorded and you can accept to an annal of the appointment by calling:

The epitomize will be accessible about one hour afterwards the appointment and will accessible for 7 canicule afterward the conference. The epitomize will additionally be accessible on the Company’s website for one month.

ABOUT THE COMPANY

First Majestic is a mining aggregation focused on argent assembly in Mexico and is aggressively advancing the development of its absolute mineral acreage assets. The Aggregation anon owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Argent Abundance and the Del Toro Argent Mine.

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 I-13 Formular (Arrival/Departure Record)

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FOR FURTHER INFORMATION acquaintance [email protected], appointment our website at www.firstmajestic.com or alarm our assessment chargeless cardinal 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.

“signed”

Keith Neumeyer, President & CEO

Cautionary Note Regarding Forward Looking Statements

This columnist absolution contains “forward�?�looking information” and “forward-looking statements” beneath applicative Canadian and U.S. balance laws (collectively, “forward�?�looking statements”). These statements chronicle to approaching contest or the Company’s approaching performance, business affairs or opportunities that are based on forecasts of approaching results, estimates of amounts not yet determinable and assumptions of administration fabricated in ablaze of management’s acquaintance and acumen of absolute trends, accepted altitude and accepted approaching developments. Advanced statements include, but are not bound to, statements with account to: the Company’s business strategy; approaching planning processes; bartering mining operations; banknote flow; budgets; the timing and bulk of estimated approaching production; accretion rates; abundance affairs and abundance life; the approaching amount of argent and added metals; costs of production; costs and timing of the development of new deposits; basic projects and analysis activities and the accessible after-effects thereof. Assumptions may prove to be incorrect and absolute after-effects may alter materially from those anticipated. Consequently, advice cannot be guaranteed. As such, investors are cautioned not to abode disproportionate affirmation aloft advice and advanced statements as there can be no affirmation that the plans, assumptions or expectations aloft which they are placed will occur. All statements added than statements of absolute actuality may be forward�?�looking statements. Statements apropos accurate and apparent mineral affluence and mineral ability estimates may additionally be accounted to aggregate forward�?�looking statements to the admeasurement that they absorb estimates of the mineralization that will be encountered as and if the acreage is developed, and in the case of abstinent and adumbrated mineral assets or accurate and apparent mineral reserves, such statements reflect the cessation based on assertive assumptions that the mineral drop can be economically exploited. Any statements that accurate or absorb discussions with account to predictions, expectations, beliefs, plans, projections, objectives or approaching contest or achievement (often, but not always, appliance words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “forecast”, “potential”, “target”, “intend”, “could”, “might”, “should”, “believe” and agnate expressions) are not statements of absolute actuality and may be “forward�?�looking statements”.

Actual after-effects may alter from advanced statements. Advanced statements are accountable to accepted and alien risks, uncertainties and added factors that may account absolute after-effects to materially alter from those bidding or adumbrated by such advanced statements, including but not bound to: risks accompanying to the affiliation of acquisitions; absolute after-effects of analysis activities; abstracts of bread-and-butter evaluations; changes in activity ambit as affairs abide to be refined; article prices; variations in ore reserves, brand or accretion rates; absolute achievement of plant, accessories or processes about to blueprint and expectations; accidents; labour relations; relations with bounded communities; changes in civic or bounded governments; changes in applicative legislation or appliance thereof; delays in accepting approvals or costs or in the achievement of development or architecture activities; barter amount fluctuations; requirements for added capital; government regulation; ecology risks; affirmation expenses; outcomes of awaiting litigation; limitations on allowance advantage as able-bodied as those factors discussed in the area advantaged “Description of the Business – Risk Factors” in the Company’s best contempo Annual Information Form, accessible on www.sedar.com, and Form 40-F on book with the United States Balance and Barter Commission in Washington, D.C. Although Aboriginal Majestic has attempted to analyze important factors that could account absolute after-effects to alter materially from those independent in advanced statements, there may be added factors that account after-effects not to be as anticipated, estimated or intended.

The Aggregation believes that the expectations reflected in these forward�?�looking statements are reasonable, but no affirmation can be accustomed that these expectations will prove to be actual and such forward�?�looking statements included herein should not be disproportionately relied upon. These statements allege alone as of the date hereof. The Aggregation does not intend, and does not accept any obligation, to amend these advanced statements, except as appropriate by applicative laws.

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