ELECTRUM SILVER US LLC DISCLOSES DISPOSITION OF COMMON SHARES OF FIRST MAJESTIC SILVER CORP.

This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

NEW YORK, March 12, 2025 /CNW/ - On March 11, 2025, Electrum Silver US LLC ("Electrum") sold 3 million common shares (the "Shares") in the capital of First Majestic Silver Corp. ("First Majestic") at a sale price of US$5.90 per share, in a sale directly to a market maker (the "Transaction"). As at the date of the filing of Electrum's last Form 62-103F1 relating to its securityholdings of First Majestic, being January 16, 2025, Electrum and its "joint actors" (as such term is defined in National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues) owned 56,111,157 Shares, representing approximately 11.7% of the issued and outstanding Shares. Following the Transaction, Electrum and its "joint actors" hold 45,111,157 Shares representing approximately 9.35% of the issued and outstanding Shares.

The securities referred to above were held for investment purposes. Electrum and/or one or more of its affiliates may, depending on market and other conditions, increase or decrease its beneficial ownership of Shares or other securities of First Majestic whether in the open market, by privately negotiated agreement or otherwise.

First Majestic is located at 925 Georgia St W, Vancouver BC V6C 3L2. Electrum is located at 600 Fifth Avenue, 24th Floor, New York, NY 10020, USA. A copy of the early warning report to which this news release relates can be obtained from Michael Williams (646-365-1600) or on the SEDAR+ profile of the issuer at www.sedar.com. 

SOURCE Electrum Silver US LLC