An undisclosed buyer entered into a share purchase and sale agreement acquired 9.41% stake in Sierra Madre Gold and Silver Ltd. (TSXV:SM) from First Majestic Silver Corp. (TSX:AG) for CAD 23.3 million on November 5, 2025. Immediately prior to giving effect to the Sale, First Majestic held beneficial ownership of, or control and direction over, 69,063,076 Shares of Sierra Madre, representing approximately 37.13% of the issued and outstanding Shares of Sierra Madre on a non-diluted basis. After giving effect to the Sale, First Majestic now holds beneficial ownership of, or control and direction over, 51,563,076 Shares of Sierra Madre, representing approximately 27.72% of the issued and outstanding Shares of Sierra Madre on a non-diluted basis.

An undisclosed buyer completed the acquisition of 9.41% stake in Sierra Madre Gold and Silver Ltd. (TSXV:SM) from First Majestic Silver Corp. (TSX:AG) on November 5, 2025.