First Majestic Secures Permits for Santa Elena Expansion, Plans $12 Million Investment in Mexico

Vancouver: First Majestic Silver Corp. has received the necessary construction permits to advance the expansion of its Santa Elena silver-gold mining district in Sonora, Mexico. The approvals allow the company to begin developing underground access through the Santo Niño and Navidad portals, marking a major milestone in the project’s next phase.

The company plans to invest an additional $12 million in 2026 to support portal construction, underground development, hydrogeological studies, and related infrastructure. Construction is expected to begin in the second half of the year, with approximately 800 metres of decline development planned at Santo Niño, alongside further development work connecting the Navidad area.

First Majestic also reported encouraging exploration results from both targets, with drilling continuing to return high-grade silver and gold intercepts. The company believes the Santo Niño and Navidad deposits will play a significant role in extending the life of the Santa Elena mine and enhancing future production by adding higher-grade mineral resources to the operation.