First Majestic Reports 2025 Production and 2026 Outlook; Increases Dividend
Vancouver, BC, Canada – First Majestic Silver Corp. (NYSE:AG) (TSX:AG) (FSE:FMV) (the “Company” or “First Majestic”) announces that total production in the fourth quarter of 2025 from the Company’s four producing underground mines in Mexico, namely, the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns the mine) and the La Encantada Silver Mine reached 7.8 million attributable silver equivalent (“AgEq”) ounces, consisting of 4.2 million silver (“Ag”) ounces, 41,417 gold (“Au”) ounces, 14.2 million pounds of zinc (“Zn”), 8.1 million pounds of lead (“Pb”) and 235,886 pounds of copper (“Cu”).
Q4 2025 PRODUCTION HIGHLIGHTS
Record Quarterly Silver Production (+77% Y/Y): The Company produced 4.2 million silver ounces in Q4 2025 representing a 77% increase when compared to 2.4 million silver ounces produced in Q4 2024. Total silver production in the quarter included 1.5 million ounces of attributable silver production from Los Gatos.
Increased Silver Equivalent Production (+37% Y/Y): The Company produced 7.8 million AgEq ounces in Q4 2025 (8.9 million AgEq ounces using updated 2025 guidance assumptions for metal prices), representing a 37% increase compared to 5.7 million AgEq ounces produced in Q4 2024. This growth was primarily driven by a 77% increase in attributable consolidated silver production, including contributions from Los Gatos, as well as improved production at San Dimas.
Continued Active Exploration Program: During the fourth quarter, the Company completed a total of 57,305 metres (“m”) of drilling across its mines in Mexico and the United States. Throughout the quarter, up to 27 drill rigs were active consisting of five rigs at Los Gatos, six rigs at Santa Elena, 13 rigs at San Dimas, one rig at La Encantada and two rigs at Jerritt Canyon.
Positive Exploration Results: In December, the Company announced positive exploration drilling results for the Santo Niño and Navidad targets at Santa Elena as well as the Luna Zone (Ermitaño mine); Santo Niño and Navidad results significantly increase the gold and silver mineralization footprint beyond the currently declared 2024 Inferred Mineral Resources. This continued exploration success prompted the launch of preliminary mine planning studies for the Navidad and Santo Niño discoveries with the goal of integrating both into the district’s Life of Mine.
Sale of the Del Toro Silver Mine: In December, First Majestic entered into a definitive agreement to sell its 100%-owned past producing Del Toro Silver Mine located in the Municipality of Chalchihuites, Zacatecas, Mexico to Sierra Madre Gold & Silver Ltd. for total consideration in cash and Sierra Madre shares of up to $60 million, comprised of upfront consideration of $30 million payable upon closing of the transaction, and an additional $30 million in delayed and contingent consideration.
Strong Safety Performance Continues: The consolidated Total Reportable Incident Frequency Rate (“TRIFR”) for 2025 was 0.55, below the Company’s 2025 target KPI of 0.70. The Lost Time Incident Frequency Rate (“LTIFR”) was 0.12, positioning the Company as best in class amongst its peer group. As a result of the Company’s continued industry leading safety efforts, Santa Elena was recognized for “Excellence in Safety” by the Mexican Mining Chamber, in the Underground Mining category with more than 500 workers.
...www.firstmajestic.com/investors/...outlook-increases-dividend
Vancouver, BC, Canada – First Majestic Silver Corp. (NYSE:AG) (TSX:AG) (FSE:FMV) (the “Company” or “First Majestic”) announces that total production in the fourth quarter of 2025 from the Company’s four producing underground mines in Mexico, namely, the Santa Elena Silver/Gold Mine, the San Dimas Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns the mine) and the La Encantada Silver Mine reached 7.8 million attributable silver equivalent (“AgEq”) ounces, consisting of 4.2 million silver (“Ag”) ounces, 41,417 gold (“Au”) ounces, 14.2 million pounds of zinc (“Zn”), 8.1 million pounds of lead (“Pb”) and 235,886 pounds of copper (“Cu”).
Q4 2025 PRODUCTION HIGHLIGHTS
Record Quarterly Silver Production (+77% Y/Y): The Company produced 4.2 million silver ounces in Q4 2025 representing a 77% increase when compared to 2.4 million silver ounces produced in Q4 2024. Total silver production in the quarter included 1.5 million ounces of attributable silver production from Los Gatos.
Increased Silver Equivalent Production (+37% Y/Y): The Company produced 7.8 million AgEq ounces in Q4 2025 (8.9 million AgEq ounces using updated 2025 guidance assumptions for metal prices), representing a 37% increase compared to 5.7 million AgEq ounces produced in Q4 2024. This growth was primarily driven by a 77% increase in attributable consolidated silver production, including contributions from Los Gatos, as well as improved production at San Dimas.
Continued Active Exploration Program: During the fourth quarter, the Company completed a total of 57,305 metres (“m”) of drilling across its mines in Mexico and the United States. Throughout the quarter, up to 27 drill rigs were active consisting of five rigs at Los Gatos, six rigs at Santa Elena, 13 rigs at San Dimas, one rig at La Encantada and two rigs at Jerritt Canyon.
Positive Exploration Results: In December, the Company announced positive exploration drilling results for the Santo Niño and Navidad targets at Santa Elena as well as the Luna Zone (Ermitaño mine); Santo Niño and Navidad results significantly increase the gold and silver mineralization footprint beyond the currently declared 2024 Inferred Mineral Resources. This continued exploration success prompted the launch of preliminary mine planning studies for the Navidad and Santo Niño discoveries with the goal of integrating both into the district’s Life of Mine.
Sale of the Del Toro Silver Mine: In December, First Majestic entered into a definitive agreement to sell its 100%-owned past producing Del Toro Silver Mine located in the Municipality of Chalchihuites, Zacatecas, Mexico to Sierra Madre Gold & Silver Ltd. for total consideration in cash and Sierra Madre shares of up to $60 million, comprised of upfront consideration of $30 million payable upon closing of the transaction, and an additional $30 million in delayed and contingent consideration.
Strong Safety Performance Continues: The consolidated Total Reportable Incident Frequency Rate (“TRIFR”) for 2025 was 0.55, below the Company’s 2025 target KPI of 0.70. The Lost Time Incident Frequency Rate (“LTIFR”) was 0.12, positioning the Company as best in class amongst its peer group. As a result of the Company’s continued industry leading safety efforts, Santa Elena was recognized for “Excellence in Safety” by the Mexican Mining Chamber, in the Underground Mining category with more than 500 workers.
...www.firstmajestic.com/investors/...outlook-increases-dividend
