First Majestic Silver Corp.
FRANKFURT : FMV
TSX : FR
OTCQX : FRMSF

First Majestic Silver Corp.

August 13, 2009 10:00 ET

First Majestic Silver Joins OTCQX

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2009) - FIRST MAJESTIC SILVER CORP. (TSX:FR)(OTCQX:FRMSF)(FRANKFURT:FMV)(WKN:A0LHKJ) (the "Company") announces that it is now trading on the OTC Market's prestigious tier, OTCQX "International" under the symbol "FRMSF". The Pink OTC Markets Inc. is a leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities in the United States. Investors can find current financial disclosure and real-time Level 2 quotes for the Company on www.otcqx.com and www.pinksheets.com.

As an OTCQX-listed company, First Majestic is expected to benefit from being associated with the top segment of the United States OTC Market and anticipated increased investor visibility. As an OTCQX-listed company, First Majestic joins several large and well known international companies who have also elected to access the US markets.

Mr. Keith Neumeyer stated; "in reviewing the alternatives to satisfy the many requests by our US shareholders and potential US investors who have asked First Majestic to list its shares in the United States, we felt that the OTCQX offered a win-win solution for all concerned. We are optimistic that our new US listing will bring extra attention to the many exciting developments that are taking place within our Company."

Dorsey & Whitney LLP will serve as First Majestic's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on listing requirements.

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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