First Majestic Announces Restart Plan for Jerritt Canyon Gold Mine

First Majestic Silver Corp. has announced a restart plan for its Jerritt Canyon Gold Mine in Nevada, USA. The plan is driven by an expanded mineral resource base, strengthened long-term gold price assumptions, and recent drilling results. The company has engaged Stantec Consulting Services Inc. to conduct a pre-feasibility study, expected to be completed in Q4 2026. First Majestic plans to invest $75 million in 2026 to support the restart, with production targeted for the second half of 2027. The investment will cover surface support, initial mining fleet purchase, plant upgrading, underground preparation, exploration programs, technical studies, workforce expansion, and dewatering upgrades. The Jerritt Canyon mine, acquired in April 2021, was temporarily suspended in March 2023 due to high contractor costs and weather events. It has a 100% ownership by First Majestic and features a permitted processing facility with a capacity of approximately 4,000 metric tonnes per day. The property spans 30,821 hectares, with 85% remaining underexplored. As of December 31, 2025, Measured and Indicated Mineral Resources are estimated at 4.1 million ounces of gold, with an additional 3.7 million ounces classified as Inferred Mineral Resources.