First Majestic Silver Corp.
PINK SHEETS : FRMSF
FRANKFURT : FMV
TSX : FR

First Majestic Silver Corp.

October 21, 2008 08:00 ET

First Majestic Silver Corp.: Third Quarter Silver Production

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 21, 2008) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(PINK SHEETS:FRMSF)(FRANKFURT:FMV)(WKN:A0LHKJ) (the "Company") is pleased to announce that a conference call and webcast has been scheduled on Thursday, October 23, 2008 at 11:00 a.m. (Pacific Time) to discuss the results of the third quarter silver production.

To participate in the conference call, please dial the following:

Toll Free Canada and USA: 1-800-319-4610

Outside Canada and USA: 1-604-638-5340

Toll Free Germany: 0800 000 2263

Toll Free UK: 0800 279 3956

Participants should dial in 15 minutes prior to the conference.

A simultaneous audio webcast of the conference call will be posted on the Company's website at www.firstmajestic.com.

The conference call will be recorded and you can listen to an archive of the conference by calling:

Canada and USA Toll Free: 1-800-319-6413

Outside Canada and USA: 1-604-638-9010

Pin Code: 3928 followed by the # sign

The replay will be available approximately one hour after the conference and will available for 7 days following the conference. The replay will also be available on the Company's website for one month.

First Majestic is a producing silver company focused in Mexico and is aggressively pursuing its business plan to become a senior silver producer through the development of its existing assets and the pursuit through acquisition of additional assets that contribute to achieving its corporate growth objectives.

FIRST MAJESTIC SILVER CORP.

Keith Neumeyer, President & CEO

This press release includes certain "Forward-Looking Statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of First Majestic Silver Corp. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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