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First Majestic Updates Reserves and Resource Estimates and

Files Form 40-F Annual Report

March 27, 2014

First Majestic Silver Corp. ("First Majestic" or the "Company") is pleased to announce the updated Mineral Reserve and Resource estimates for its portfolio of properties in Mexico as of December 31, 2013.  The mineral Reserve and Resource estimates were calculated using US$24.00 per ounce silver, US$1,400 per ounce gold, US$0.95 per pound lead and US$0.90 per pound zinc.

The Company also announces that its 2013 audited financial statements have been filed on SEDAR.  In addition, a Form 40-F report has been filed with the United States Securities and Exchange Commission and is available on EDGAR.  Both documents are also available on the Company’s website at www.firstmajestic.com.

Shareholders may also receive a copy of First Majestic’s audited financial statements, without charge, upon request to First Majestic, Suite 1805 – 925 West Georgia Street Vancouver, B.C., Canada, V6C 3L2 or to info@firstmajestic.com.

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