First Majestic Resource Corp.

CDN$15 Million Brokered Private Placement

Vancouver, Canada (ots/PRNewswire) - First Majestic Resource Corp. (the "Company") is pleased to announce a brokered private placement offering of 6.0 million units ("Units") of the Company at a price of CDN$2.50 per Unit (the "Offering"). Each Unit will consist of one common share (a "Unit Share") and one-half of one common share purchase warrant (a "Warrant"), with a full Warrant entitling the holder to purchase one additional common share of the Company ("Warrant Shares") at an exercise price of CDN$3.00 per Warrant Share for a period of two years after the closing of the Offering. The Offering is expected to close on or about April 22, 2005. Completion of the Offering is subject to receipt by the Company of all necessary regulatory approvals. The securities to be issued under the Offering will be subject to a four-month hold period. Jennings Capital Inc. (the "Agent") will act as the lead agent for the Offering. The Agent has the option to increase the size of the Offering by an additional 1.0 million Units, thereby increasing the Offering to 7.0 million Units for total gross proceeds to the Company of CDN$17.5 million. The Agent will receive a cash commission equal to 7% of the gross proceeds raised under the Offering. In addition, the Company has agreed to issue to the Agents at closing, broker warrants entitling the Agents, for a period of 24 months from the closing of the Offering, to acquire that number of Common Shares of the Company ("Broker Shares") that is equal to 7% of the number of Units sold under the Offering, exercisable at a price of CDN$2.50 per Broker Share. The Company plans to use the net proceeds of the Offering to advance development and exploration at Company's La Parrilla Silver Mine, the Candamena, Dios Padre and Chalchihuites properties in Mexico. FIRST MAJESTIC RESOURCE CORP. "signed" Keith Neumeyer President This Press release shall not constitute an offer to sell of the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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 Resource 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. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and the TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. ots Originaltext: First Majestic Resource Corp. Im Internet recherchierbar: Contact: For further information: FIRST MAJESTIC RESOURCE CORP., Suite 1480 - 885 West Georgia Street, Vancouver, BC, Canada V6C 3E8, Telephone: +1-(604)-688-3033, Fax: +1-(604)-601-2010, Web site:, E-mail:

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