First Majestic Initiates NAFTA Arbitration Process Against Mexico for Violating International Law - Seite 2

Under these circumstances, and in order to formally require the Government of Mexico to address the unlawful and unwarranted conduct of SAT for which it is responsible under international law, the Company has taken steps to serve the Government of Mexico with a Notice of Intent to Submit a Claim (“Notice”) under the provisions of Chapter 11 of North American Free Trade Agreement (“NAFTA”). The service of this Notice by the Company on the Government of Mexico initiates a 90-day process for the Government of Mexico to enter into good faith and amicable negotiations with the Company to resolve the current dispute between the Company and the Government of Mexico.

The Company has deep roots in the social fabric of Mexico and values its relationships in Mexico with its various business partners and with various levels of government in Mexico. It has been recognized as a “Socially Responsible Company” by the Centro Mexicano para la Filantropria (CEMEFI) for twelve consecutive years starting in 2008 until the present. Furthermore, it has a track record of making substantial capital investments and social programs in Mexico and has plans to continue to make such further investments. The Company has invested in excess of $2.0 billion in Mexico since 2003 and has approximately 4,700 direct employees and supplies approximately 20,000 indirect jobs spread among eight states within Mexico.

The Company has regretfully had to take this step of providing a Notice of Intent to Submit a Claim to Mexico so as to prevent further harm to the Company, its investments in Mexico, and to protect the health and welfare of its workforce.

ABOUT THE COMPANY

First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine.

FOR FURTHER INFORMATION contact [e-mail], visit our website at www.firstmajestic.com or call our toll-free number 1.866.529.2807.

FIRST MAJESTIC SILVER CORP.
“signed”
Keith Neumeyer, President & CEO

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release contains “forward‐looking information” and "forward-looking statements” under applicable Canadian and U.S. securities laws (collectively, “forward‐looking statements”). These statements relate to future events or the Company's future performance, business prospects or opportunities that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management made in light of management's experience and perception of historical trends, current conditions and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: negotiations regarding Mexican tax matters; resolution of the dispute with SAT; and plans to continue to make further investments and social programs. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon guidance and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements other than statements of historical fact may be forward‐looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “forecast”, “potential”, “target”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward‐looking statements”.