First Majestic Announces Friendly Acquisition of SilverCrest Mines

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 27, 2015) - First Majestic Silver Corp. ("First Majestic") (TSX:FR) (NYSE:AG) (FRANKFURT:FMV) (BVM:AG) and SilverCrest Mines Inc. ("SilverCrest") (TSX:SVL) (NYSE MKT:SVLC) (FRANKFURT:CW5) are pleased to announce that the companies have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of SilverCrest for consideration of 0.2769 of a common share of First Majestic (the "Exchange Ratio") plus C$0.0001 in cash per SilverCrest common share. The offer implies a value of C$1.30 per SilverCrest share based on the closing price of First Majestic's common shares on the Toronto Stock Exchange ("TSX") on July 24, 2015. The offer represents a premium of approximately 37% to SilverCrest's 30-day volume-weighted average price ("VWAP") on the TSX for the period ending July 24, 2015 and a 35% premium to SilverCrest's previous closing price. The transaction will be implemented by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). In addition, shareholders of SilverCrest will receive shares in a newly formed company ("New SilverCrest") which will hold certain exploration assets currently held by SilverCrest and First Majestic.

BENEFITS TO FIRST MAJESTIC SHAREHOLDERS

• Enhances First Majestic's leading position in Mexico, one of the world's most prolific silver and gold regions
• Accretive to First Majestic's net asset value per share, reserves and total resources per share and production per share
• SilverCrest's Santa Elena Mine will be First Majestic's sixth producing silver mine adding further growth potential to First Majestic's portfolio of Mexican projects
• Strengthens First Majestic's balance sheet by adding approximately C$30 million in cash and further enhances the working capital position
• Provides operational and production synergies with the potential for additional cost cutting
• Further diversifies production and cash flow across a robust portfolio of producing mines

BENEFITS TO SILVERCREST SHAREHOLDERS