Vancouver, BC, Canada – First Majestic Silver Corp. (NYSE:AG) (TSX:AG) (FSE:FMV) (the “Company” or “First Majestic”) announces that total production in the second quarter of 2025 from the Company’s four producing underground mines in Mexico, namely the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns the mine), the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine reached 7.9 million silver equivalent (“AgEq”) attributable ounces, consisting of 3.7 million silver ounces, 33,865 gold ounces, 16.1 million pounds of zinc and 9.0 million pounds of lead.

“First Majestic continues to deliver on the commitments made at the start of the year,” said Keith Neumeyer, President & CEO. “During the first half of the year, our operations achieved strong and consistent production, supported by disciplined cost management. We closed Q2 ahead of budget with strong momentum, despite weather-related disruptions and power outages in the final days of June that impacted production at Los Gatos, San Dimas and La Encantada. Looking ahead, we are revising our 2025 guidance positively to reflect improved production and cost targets. The integration of Los Gatos is progressing well, with numerous synergies and opportunities already being identified and leveraged. Operational performance at Santa Elena and San Dimas continues to meet or exceed expectations, allowing us to capitalize on the favourable metal price environment. While La Encantada had a slower start to the year, we anticipate a stronger second half, with both production and cost performance expected to improve.”

Q2 2025 PRODUCTION HIGHLIGHTS

Silver Production (+76% Y/Y): The Company produced 3.7 million silver ounces in Q2 2025 representing a 76% increase when compared to 2.1 million silver ounces produced in Q2 2024. Total silver production in the quarter included 1.5 million ounces of attributable silver production from Los Gatos.
Silver Equivalent Production (+48% Y/Y): The Company produced 7.9 million AgEq ounces in Q2 2025, a 48% increase compared to 5.3 million AgEq ounces in Q2 2024. This growth was primarily driven by a 76% increase in attributable silver production, including contributions from Los Gatos, as well as a 17% production increase at San Dimas.
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https://www.firstmajestic.com/investors/news-releases/first-majestic-produces-79-million-ageq-ounces-in-q2-2025-consisting-of-37-million-silver-ounces-and-33865-gold-ounces-announces-improved-2025-production-and-cost-guidance-and-conference-call-details