FACTOR CERTIFICATE - FIRST MAJESTIC SILVER Stock

First Majestic Silver Corp. is a mining company focused on silver and gold production in Mexico and the United States. The Company owns and operates four producing underground mines in Mexico: the Santa Elena Silver/Gold Mine, the Los Gatos Silver Mine (the Company holds a 70% interest in the Los Gatos Joint Venture that owns and operates the mine), the San Dimas Silver/Gold Mine, and the La Encantada Silver Mine, as well as a portfolio of development and exploration assets, including the Jerritt Canyon Gold Mine located in northeastern Nevada, United States. The San Dimas property contains 71,867 hectares of mining claims located in the state of Durango, Mexico. The Santa Elena mine site is approximately 150 kilometers (km) northeast of the state capital city of Hermosillo, Sonora, Mexico. The La Encantada Silver Mine is located in northern Mexico, 708 km northeast of Torreon, Coahuila. The Los Gatos Silver Mine comprises mining concessions that total over 103,000 hectares.