Eric Sprott Reports Holdings in First Majestic Silver Corp.

Toronto, Ontario--(Newsfile Corp. - February 16, 2022) - Eric Sprott announces that Sprott Mining Inc., (a corporation which he beneficially owns) disposed of a total of 600,000 common shares of First Majestic Silver Corp., over the Toronto Stock Exchange (representing approximately 0.2% of the outstanding shares on non-diluted basis) at a price of approximately $14.63 per share for aggregate consideration of approximately $8,779,920.

Mr. Sprott now beneficially owns or controls 23,325,241 Shares and 5,000,000 Warrants (representing approximately 9.1% of the outstanding Shares on a non diluted basis and approximately 10.8% on a partially diluted basis). Prior to the disposition, Mr. Sprott beneficially owned and controlled 23,925,241 common shares and 5,000,000 common share purchase warrants (representing approximately, 9.3% on a non-diluted basis and approximately 11.1% on a partially diluted basis. The disposition resulted in an ownership change, on a partially diluted basis, of approximately 2.2% since the last filing of an Early Warning Report.

The securities noted above are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

First Majestic is located at 1800-925 West Georgia Street, Vancouver, BC V6C 3L2. A copy of Sprott Mining's early warning report will appear on First Majestic Silver's profile on SEDAR at www.sedar.com and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

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