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Re:   News Release - Monday, September 30, 2013
      First Majestic Applies to Dismiss Appeal of Positive Judgment for
      US$93.84 million
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FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or
"First Majestic") today announced further to its April 26, 2013 and
July 2, 2013 news releases, that First Majestic has applied to the
Court of Appeal of British Columbia for an order dismissing the appeal
by Hector Davila Santos ("Hector Davila") and Minerales y Minas
Mexicana, S.A. de C.V. ("MMM") of the April 24, 2013 trial judgment in
favour of First Majestic in the amount of US$93.84 million. 

In November 2007, the Company and its wholly-owned subsidiary, First
Silver Reserve Inc. ("FSR") commenced an action against Hector Davila,
the previous director, President and Chief Executive Officer of FSR
with respect to the acquisition of the Bola�os Mine in Mexico.  On
April 24, 2013, the Supreme Court of British Columbia ruled in favour
of First Majestic and FSR and ordered that Hector Davila and MMM pay to
First Majestic US$93.84 million (as increased from the US$86.9 million
initially ordered, to correct an error in the prior assessment).  As
previously announced, the Company received CDN$14.85 million on June
28, 2013 as partial payment of the judgment.

Hector Davila and MMM appealed the April 24, 2013 decision of the
Supreme Court of British Columbia. On June 27, 2013 the Court of Appeal
of British Columbia ordered Hector Davila and MMM to post security or
provide a letter of credit in the amount of US$79 million by September
25, 2013.  Hector Davila and MMM did not post security or provide a
letter of credit and as a result, under the terms of the June 27th
ruling, First Majestic and FSR have applied to dismiss the appeal. 

Additionally, the Supreme Court of British Columbia has granted orders
restricting any transfer or encumbrance of the Bola�os Mine by Hector
Davila or MMM and limiting mining at the Bola�os Mine.  The orders also
require that Hector Davila and MMM preserve net cash flow from the
Bola�os Mine in a holding account and periodically provide to the
Company certain information regarding the Bola�os Mine and the holding
account. 

There is no guarantee that the Company's application for dismissal of
the appeal will be successful.  Judgment against Hector Davila and MMM
should not be regarded as final until such time as all avenues for
appeal have been exhausted and the Company cautions that even if the
results of all such appeals are in the Company's favour it may have to
take additional action in Mexico and / or Canada to try to recover the
unpaid portion of the judgment.  The outcome of any such action is not
presently determinable.

First Majestic is a mining company focused on silver production in
M�xico and is aggressively pursuing its business plan of becoming a
senior silver producer through the development of its existing mineral
property assets and the pursuit through acquisition of additional
mineral assets which contribute to the Company achieving its aggressive
corporate growth objectives.

FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our
website at www.firstmajestic.com or call our toll free number
1.866.529.2807.


FIRST MAJESTIC SILVER CORP.
"signed"
Keith Neumeyer, President & CEO

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release includes certain "Forward-Looking Statements" within
the meaning of the United States Private Securities Litigation Reform
Act of 1995 and applicable Canadian securities laws. When used in this
news release, the words "anticipate", "believe", "estimate", "expect",
"target", "plan", "forecast", "may", "schedule" and similar words or
expressions, identify forward-looking statements or information. These
forward-looking statements or information relate to, among other
things: additional court proceedings and recovery of judgment amounts.

These statements reflect the Company's current views with respect to
future events and are necessarily based upon a number of assumptions
and estimates that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Such statements
include statements with respect to court proceedings and receipt of
judgment proceeds.  Many factors, both known and unknown, could cause
actual results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements or information
and the Company has made assumptions and estimates based on or related
to many of these factors. Such factors include, without limitation:
availability of time on court calendars in Canada and elsewhere; the
recognition of Canadian judgments under Mexican law; the possibility of
settlement discussions; the risk of appeal of judgment; and the
insufficiency of the defendants' assets to satisfy the judgment amount.

Investors are cautioned against attributing undue certainty to
forward-looking statements or information. Although the Company has
attempted to identify important factors that could cause actual results
to differ materially, there may be other factors that cause results not
to be anticipated, estimated or intended. The Company does not intend,
and does not assume any obligation, to update these forward-looking
statements or information to reflect changes in assumptions or changes
in circumstances or any other events affecting such statements or
information, other than as required by applicable law.

To view the release in PDF format:

Associated File:
  http://www.firstmajestic.com/i/pdf/2013-09-30_NR.pdf

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Copyright (c) 2013 FIRST MAJESTIC SILVER CORP. (TSX: FR)  All rights
reserved.  For more information visit our website at
http://www.firstmajestic.com/ or send mailto:investor@firstmajestic.com
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