TSXgroup

January 11, 2008

ORIGINAL LISTING

First Majestic Silver Corp. (the “Company”) – An application has been granted for the original listing in the Mining category of 77,209,243 common shares of the Company, of which 63,132,160 common shares are issued and outstanding, and 14,077,083 common shares are reserved for issuance.

An application has also been granted for the listing of 3,441,500 common share purchase warrants (the “Warrants”), all of which are issued and outstanding. Each Warrant entitles the holder to purchase one common share at a price of $6.50 per share at any time prior to 4:30 p.m. (Vancouver Time) on November 10, 2008.

The common shares and the Warrants of the Company will be listed and posted for trading at the opening on Tuesday, January 15, 2008.

The Company is subject to the reporting requirements of Section 501 of the TSX Company Manual.

Common Shares:
Stock Symbol: “FR”
CUSIP: 32076V 10 3
Trading Currency: CDN

Warrants:
Stock Symbol: “FR.WT”
CUSIP: 32076V 11 1
Trading Currency: CDN

Temporary Market Maker: Research Capital Corporation

Other Markets: The common shares of the Company and the Warrants have been listed on TSX Venture Exchange since April 21, 1980 and August 3, 2007 respectively. The common shares and Warrants will be delisted from TSX Venture Exchange on January 15, 2008, upon commencement of trading on TSX.

Head Office Address:
Suite 1805
925 West Georgia St.
Vancouver, British Columbia
V6C 3L2

Email Address: info@firstmajestic.com

Website: www.firstmajestic.com

Head Office Telephone Number: (604) 688-3033

Toll Free: 1-866-529-2807