First Majestic Reports Accident at La Encantada
October 03 2017 - 12:18PM
First Majestic Silver Corp. (NYSE:AG) (TSX:FR) ("First
Majestic" or the "Company") reports an accident occurred at its La
Encantada Silver Mine in the state of Coahuila, Mexico.
The accident occurred as part of the
construction of the 790 ramp at the La Encantada mine. A total of
four miners lost their lives due to gas intoxication which
accumulated in the area. There was no explosion as other media
sources have reported. It is believed the operator of a scoop tram
lost consciousness while mucking the area. Three additional miners
later arrived to the scene to provide assistance to the ill miner.
The four men were carrying all required personal protection
equipment, including safety belt breathing apparatuses, but sadly
did not use the equipment. The emergency response crew was
dispatched and successfully extracted the four miners before
transporting them to the local hospital where they were later
pronounced deceased.
"Our thoughts and prayers are with the families
during this tragic time," said Keith Neumeyer, President and Chief
Executive Officer. "Safety is a top priority at First Majestic and
we will continue to work to prevent such accidents from
occurring."
The accident is being investigated by the
Company and Mexican authorities. The workers' families have been
notified. Immediately following the accident, First Majestic chose
to cease mining operations at the mine in order to focus attention
on the response and to provide support to the families of the
deceased. The Company expects to resume mining operations on
October 4, 2017 but the 790 area will remain closed until the
investigation is completed.
About the Company
First Majestic is a mining company focused on
silver production in Mexico and is aggressively pursuing the
development of its existing mineral property assets. The Company
presently owns and operates six producing silver mines; the La
Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada
Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine and
the Santa Elena Silver/Gold Mine. Production from these six mines
is projected to be between 10.0 to 10.6 million ounces of pure
silver or 15.7 to 16.6 million ounces of silver equivalents in
2017.
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
Cautionary Note Regarding Forward Looking
Statements
This press release contains "forward-looking
statements", within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation, concerning the business, operations and
financial performance and condition of First Majestic Silver
Corp. Forward-looking statements include, but are not limited
to, statements with respect to the future price of silver and other
metals, the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the timing and amount of
estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, hedging
practices, currency exchange rate fluctuations, requirements for
additional capital, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, timing and
possible outcome of pending litigation, title disputes or claims
and limitations on insurance coverage. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of First Majestic Silver
Corp. to be materially different from those expressed or
implied by such forward-looking statements, including but not
limited to: risks related to the integration of acquisitions; risks
related to international operations; risks related to joint venture
operations; actual results of current exploration activities;
actual results of current reclamation activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; future prices of metals; possible
variations in ore reserves, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion
of development or construction activities, as well as those factors
discussed in the section entitled "Description of the Business -
Risk Factors" in First Majestic Silver Corp.'s Annual
Information Form for the year ended December 31, 2016, available on
www.sedar.com, and Form 40-F on file with the United States
Securities and Exchange Commission in Washington, D.C.
Although First Majestic Silver Corp. has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking
statements. First Majestic Silver Corp. does not
undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with
applicable securities laws.
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