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   <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>As filed with the Securities and Exchange Commission on January&nbsp;16, 2025 </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration No.&nbsp;333-&#8195;&#8195;&#8195; </B></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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  <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES
  AND EXCHANGE COMMISSION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
  <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">S-8</FONT> </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRATION STATEMENT </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>UNDER </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>THE
  SECURITIES ACT OF 1933 </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>First Majestic Silver Corp. </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
  <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">
  
  
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  <TD VALIGN="top" ALIGN="center"><B>British Columbia</B></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="top" ALIGN="center"><B>Not Applicable</B></TD></TR>
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  <TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction of</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization)</B></P></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="top" ALIGN="center"><B>(I.R.S. Employer<BR>Identification Number)</B></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">
  
  
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  <TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Suite 1800 &#150; 925 West Georgia Street</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Vancouver, British Columbia, Canada</B></P></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom" ALIGN="center"><B>V6C 3L2</B></TD></TR>
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  <TD VALIGN="top" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
  </TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Gatos Silver, Inc. Amended and Restated Long Term Incentive Plan </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Full title of the plan) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
  <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Puglisi&nbsp;&amp; Associates </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>850 Library Avenue, Suite 204 </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Newark, Delaware 19711 </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(302) <FONT STYLE="white-space:nowrap">738-6680</FONT> </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name, address and telephone number, including area code, of agent for service) </B></P>
  <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>with copies to: </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">
  
  
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  <TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Samir Patel</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>General Counsel&nbsp;&amp; Corporate Secretary</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>First Majestic Silver Corp.</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Suite 1800, 925 West Georgia Street</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Vancouver, British Columbia V6C 3L2</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Canada</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(604) <FONT
  STYLE="white-space:nowrap">688-3033</FONT></B></P></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Daniel M. Miller</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dorsey&nbsp;&amp; Whitney LLP</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Suite 855, 1095 West Pender Street</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Vancouver, British Columbia V6E 2M6</B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Canada</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(604) <FONT
  STYLE="white-space:nowrap">630-5199</FONT></B></P></TD></TR>
  </TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a <FONT STYLE="white-space:nowrap">non-accelerated</FONT>
  filer, a smaller reporting company or an emerging growth company. See the definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer,&#148; &#147;smaller reporting company&#148; and &#147;emerging growth company&#148; in Rule <FONT
  STYLE="white-space:nowrap">12b-</FONT> 2 of the Exchange Act. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">
  
  
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  <TD VALIGN="bottom">Large&nbsp;accelerated&nbsp;filer</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">&#9745;</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="bottom">Accelerated&nbsp;filer</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">&#9744;</TD></TR>
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  <TD VALIGN="bottom">Non-accelerated filer</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">&#9744; (Do not check if a smaller reporting company)</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="bottom">Smaller&nbsp;reporting&nbsp;company</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">&#9744;</TD></TR>
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  <TD VALIGN="bottom">&nbsp;</TD>
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  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="bottom">Emerging&nbsp;growth&nbsp;company</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">&#9744;</TD></TR>
  </TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
  for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;7(a)(2)(B) of the Securities Act.&#8194;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
  </DIV></Center>
  
  
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   <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXPLANATORY NOTE </B></P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On January&nbsp;16, 2025, the Registrant completed the acquisition of Gatos Silver, Inc. pursuant to the Agreement and Plan of Merger, or the
  &#147;Merger Agreement&#148;, dated as of September&nbsp;5, 2024, by and among the Registrant, Ocelot Transaction Corporation, a wholly-owned subsidiary of the Registrant, and Gatos Silver. This registration statement is being filed by the
  Registrant to register 8,242,244&nbsp;common shares, without par value, of the Registrant that may be issuable upon the exercise of options granted under the Gatos Silver, Inc. Amended and Restated Long Term Incentive Plan, which were assumed by the
  Registrant and converted into options to acquire Registrant common shares pursuant to the Merger Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART I </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS </B></P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The document(s) containing the information required by Item 1 of Form <FONT STYLE="white-space:nowrap">S-8</FONT> and the statement of
  availability of registrant information and any other information required by Item 2 of Form <FONT STYLE="white-space:nowrap">S-8</FONT> will be sent or given to participants as specified by Rule 428 under the Securities Act of 1933, as amended. In
  accordance with Rule 428 and the requirements of Part I of Form <FONT STYLE="white-space:nowrap">S-8,</FONT> such documents are not being filed with the United States Securities and Exchange Commission, or the &#147;Commission&#148;, either as part
  of this registration statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. The Registrant will maintain a file of such documents in accordance with the provisions of Rule 428. Upon request, the
  Registrant will furnish to the Commission or its staff a copy of any or all of the documents included in such file. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART II </B></P>
  <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT </B></P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;3. Incorporation of Documents by Reference. </B></P>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following documents filed by the Registrant with the Commission pursuant to the Securities Exchange Act of 1934, as amended, are
  incorporated into this registration statement by reference: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Registrant&#146;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000106299324007598/form40f.htm">Form
   <FONT STYLE="white-space:nowrap">40-F</FONT></A> for the year ended December&nbsp;31, 2023; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Exhibits 99.1 and 99.2 to the Registrant&#146;s Current Reports on Form
  <FONT STYLE="white-space:nowrap">6-K</FONT> furnished to the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000162828024021364/ag-2024q1x6k.htm">May<U></U>&nbsp;
  8, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000162828024033873/ag-2024q2x6k.htm">August<U></U>&nbsp;1, 2024</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000162828024045968/ag-2024q3x6k.htm">November 7,
  2024</A> that include quarterly financial information; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000119312524274630/d752818dex993.htm">Exhibit 99.3</A> to
  the Registrant&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">6-K</FONT> furnished to the Commission on December&nbsp;11, 2024; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000119312524096190/d790431dex993.htm">Exhibit 99.3</A> to
  the Registrant&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">6-K</FONT> furnished to the Commission on April&nbsp;15, 2024; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000119312524215291/d862071dex991.htm">Exhibit 99.1</A> to
  the Registrant&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">6-K</FONT> furnished to the Commission on September&nbsp;9, 2024; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Registrant&#146;s Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000119312524282411/d919680d6k.htm">Form
   <FONT STYLE="white-space:nowrap">6-K</FONT></A> furnished to the Commission on December&nbsp;20, 2024; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The description of the Registrant&#146;s common shares contained in its registration statement on Form <FONT
  STYLE="white-space:nowrap">40-F</FONT> filed with the Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000106299310003870/form40f.htm">November<U></U>&nbsp;23, 2010</A> under Section&nbsp;
  12 of the Exchange Act, as amended on <A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000106299310004051/form40fr12ba.htm">December<U></U>&nbsp;8, 2010</A>, and all amendments and reports filed for the purpose of updating such description;
  and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">All other reports filed by the Registrant pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act since
  December&nbsp;31, 2023. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14
  and 15(d) of the Exchange Act subsequent to the date of this registration statement and prior to the filing of any post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold or which
  deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement and to be a part hereof from the date of filing of such documents. In addition, any information circular, unaudited
  interim consolidated financial statements, management&#146;s discussion and analysis, material change reports (excluding confidential material change reports) or business acquisition reports subsequently filed by the Registrant
  </P>
  </DIV></Center>
  
  
  <p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
  <HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  
  <Center><DIV STYLE="width:8.5in" align="left">
   <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
  with securities commissions or similar authorities in the relevant provinces and territories of Canada after the date of this registration statement, and prior to the filing of a post-effective
  amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement from the applicable Report on
  Form <FONT STYLE="white-space:nowrap">6-K</FONT> on which such document is furnished to the Commission. In addition, any Form <FONT STYLE="white-space:nowrap">6-K</FONT> furnished by the Registrant during such period or portions thereof, in each
  case that are identified in such Form <FONT STYLE="white-space:nowrap">6-K</FONT> as being incorporated by reference into this registration statement, shall be deemed to be incorporated by reference into and to be part of this registration statement
  from the date of filing of each such document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any statement contained herein, in any amendment hereto or in a document incorporated by
  reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any subsequently-filed amendment to this registration statement or in any document that
  also is incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement </P>
  <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;4. Description of Securities. </B></P>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;5. Interests of
  Named Experts and Counsel. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
  <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;6. Indemnification of Directors and Officers. </B></P>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant is subject to the provisions of Part 5, Division 5 of the Business Corporations Act (British Columbia) (the &#147;Act&#148;).
  </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under Section&nbsp;160 of the Act, the Registrant may, subject to Section&nbsp;163 of the Act: </P>
  <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="9%">&nbsp;</TD>
  <TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
  <TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">indemnify an individual who: </P></TD></TR></TABLE>
  <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="14%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">is or was a director or officer of the Registrant; </P></TD></TR></TABLE>
  <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="14%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">is or was a director or officer of another corporation (i)&nbsp;at a time when such corporation is or was an
  affiliate of the Registrant; or (ii)&nbsp;at the Registrant&#146;s request,&nbsp;or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="14%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="2%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">at the Registrant&#146;s request, is or was, or holds or held a position equivalent to that of, a director or
  officer of a partnership, trust, joint venture or other unincorporated entity, </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">and including, subject to certain limited
  exceptions, the heirs and personal or other legal representatives of that individual (collectively, an &#147;eligible party&#148;), against all eligible penalties to which the eligible party is or may be liable; and </P>
  <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="9%">&nbsp;</TD>
  <TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
  <TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">after final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an
  eligible party in respect of that proceeding, where: </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">&#147;eligible penalty&#148; means a judgment, penalty or fine
  awarded or imposed in, or an amount paid in settlement of, and eligible proceeding. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">&#147;eligible proceeding&#148; means a proceeding in
  which an eligible party or any of the heirs and personal or other legal representatives of the eligible party, by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of
  a director or officer of, the Registrant or an associated corporation (a)&nbsp;is or may be joined as a party, or (b)&nbsp;is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding. </P>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">&#147;proceeding&#148; includes any legal proceeding or investigative action, whether current, threatened , pending or completed. </P>
  </DIV></Center>
  
  
  <p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
  <HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  
  <Center><DIV STYLE="width:8.5in" align="left">
   <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under Section&nbsp;161 of the Act, and subject to Section&nbsp;163 of the Act, the
  Registrant must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an eligible party in respect of that proceeding if the eligible party (a)&nbsp;has not been reimbursed for those expenses,
  and (b)&nbsp;is wholly successful, on the merits or otherwise, in the outcome of the proceeding or is substantially successful on the merits in the outcome of the&nbsp;proceeding. </P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under Section&nbsp;162 of the Act, and subject to Section&nbsp;163 of the Act, the Registrant may pay, as they are incurred in advance of the
  final disposition of an eligible proceeding, the expenses actually and reasonably incurred by an eligible party in respect of the proceeding, provided that the Registrant must not make such payments unless we first receive from the eligible party a
  written undertaking that, if it is ultimately determined that the payment of expenses is prohibited under Section&nbsp;163 of the Act, the eligible party will repay the amounts advanced. </P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under Section&nbsp;163 of the Act, the Registrant must not indemnify an eligible party against eligible penalties to which the eligible party
  is or may be liable or pay the expenses of an eligible party in respect of that proceeding under Sections&nbsp;160, 161 or&nbsp;162 of the Act, as the case may be, if any of the following circumstances apply: </P>
  <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">if the indemnity or payment is made under an earlier agreement to indemnify or pay expenses and, at the time that
  the agreement to indemnify or pay expenses was made, the Registrant was prohibited from giving the indemnity or paying the expenses by its memorandum or&nbsp;articles; </P></TD></TR></TABLE>
  <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">if the indemnity or payment is made otherwise than under an earlier agreement to indemnify or pay expenses and,
  at the time that the indemnity or payment is made, the Registrant are prohibited from giving the indemnity or paying the expenses by its memorandum or articles; </P></TD></TR></TABLE>
  <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">if, in relation to the subject matter of the eligible proceeding, the eligible party did not act honestly and in
  good faith with a view to the best interests of the Registrant or the associated corporation, as the case may be;&nbsp;or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">in the case of an eligible proceeding other than a civil proceeding, if the eligible party did not have
  reasonable grounds for believing that the eligible party&#146;s conduct in respect of which the proceeding was brought was&nbsp;lawful. </P></TD></TR></TABLE>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If an eligible proceeding is brought against an eligible party by or on behalf of the Registrant or by or on behalf of an associated
  corporation, the Registrant must not either indemnify the eligible party against eligible penalties to which the eligible party is or may be liable, or pay the expenses of the eligible party under Sections&nbsp;160, 161 or&nbsp;162 of the Act, as
  the case may be, in respect of the&nbsp;proceeding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under Section&nbsp;164 of the Act, and despite any other provision of Part 5,
  Division 5 of the Act and whether or not payment of expenses or indemnification has been sought, authorized or declined under Part 5, Division 5 of the Act, on application of the Registrant or an eligible party, the Supreme Court of British Columbia
  may do one or more of the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">order the Registrant to indemnify an eligible party against any liability incurred by the eligible party in
  respect of an eligible proceeding; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">order the Registrant to pay some or all of the expenses incurred by an eligible party in respect of an eligible
  proceeding; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">order the enforcement of, or payment under, an agreement of indemnification entered into by the Registrant;
  </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">order the Registrant to pay some or all of the expenses actually and reasonably incurred by any person in
  obtaining an order under Section&nbsp;164 of the Act;&nbsp;or </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="5%">&nbsp;</TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
  <TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
  <TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">make any other order the court considers appropriate. </P></TD></TR></TABLE>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;165 of the Act provides that the Registrant may purchase and maintain insurance for the benefit of an eligible party or the heirs
  and personal or other legal representatives of the eligible party against any liability that may be incurred by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a
  director or officer of, the Registrant or an associated corporation. </P>
  </DIV></Center>
  
  
  <p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
  <HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  
  <Center><DIV STYLE="width:8.5in" align="left">
   <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the Registrant&#146;s articles, and subject to the Act, the Registrant must indemnify
  a director, former director or alternate director and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and the Registrant must, after the final disposition of an eligible
  proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Each eligible party is deemed to have contracted with the Registrant on the terms of the indemnity contained in the Registrant&#146;s
  articles. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the Registrant&#146;s articles, and subject to the Act, the Registrant may agree to indemnify and may indemnify any
  person (including an eligible party). The Registrant has entered into indemnity agreements with certain of the Registrant&#146;s directors and officers. </P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Registrant&#146;s articles, the failure of an eligible party to comply with the Act or the Registrant&#146;s articles does
  not, of itself, invalidate any indemnity to which he or she is entitled under the Registrant&#146;s articles. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the Registrant&#146;s
  articles, the Registrant may purchase and maintain insurance for the benefit of an eligible person (or his or her heirs or legal personal representatives) against any liability incurred by him or her as a director, officer or person who holds or
  held such equivalent position. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may be
  permitted to directors, officers or persons controlling the Registrant&#146;s company pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as
  expressed in the Act and is therefore unenforceable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;7. Exemption from Registration Claimed. </B></P>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;8. Exhibits.
  </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">
  
  
  <TR>
  
  <TD></TD>
  
  <TD VALIGN="bottom" WIDTH="3%"></TD>
  <TD WIDTH="93%"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
  <TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Exhibit<BR>No.</P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center">Description</P></TD></TR>
  
  
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>&#8199;4.1</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000119312521222824/d166258dex41.htm">Certificate of Continuation and Certificate of Change of Name (incorporated by reference to Exhibit 4.1 to the registration statement on Form
   <FONT STYLE="white-space:nowrap">S-8</FONT> filed by First Majestic Silver Corp. on July<U></U>&nbsp;23, 2021 (File No.<U></U><FONT STYLE="white-space:nowrap">&nbsp;333-258124)).</FONT></A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>&#8199;4.2</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1308648/000119312521222824/d166258dex42.htm">Notice of Articles and Articles filed under the <I>Business Corporations Act</I> (British Columbia) (incorporated by reference to Exhibit 4.2
   to the registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> filed by First Majestic Silver Corp. on July<U></U>&nbsp;23, 2021 (File No.<U></U><FONT STYLE="white-space:nowrap">&nbsp;333-258124)).</FONT> </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>&#8199;4.3</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex43.htm">Gatos Silver, Inc. Amended and Restated Long-Term Incentive Plan.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>&#8199;5.1</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex51.htm">Opinion of Bennett Jones LLP* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.1</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex231.htm">Consent of Deloitte LLP, Independent Registered Public Accounting Firm.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.2</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex232.htm">Consent of Ramon Mendoza Reyes, P. Eng.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.3</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex233.htm">Consent of Persio P. Rosario, P. Eng.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.4</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex234.htm">Consent of Mar&iacute;a Elena V&aacute;zquez Jaimes, P. Geo.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.5</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex235.htm">Consent of Phillip J. Spurgeon, P. Geo.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.6</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex236.htm">Consent of Brian Boutilier, P.Eng.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.7</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex237.htm">Consent of David Rowe, CPG* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.8</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex238.htm">Consent of Joaquin Merino-Marquez, P. Geo.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.9</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex239.htm">Consent of Gonzalo Mercado, P.Geo.* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.10</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex2310.htm">Consent of Michael Jarred Deal, RM SMEP* </A></TD></TR>
  </TABLE>
  </DIV></Center>
  
  
  <p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
  <HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  
  <Center><DIV STYLE="width:8.5in" align="left">
  
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">
  
  
  <TR>
  
  <TD></TD>
  
  <TD VALIGN="bottom" WIDTH="3%"></TD>
  <TD WIDTH="93%"></TD></TR>
  
  
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="bottom">23.11</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="d830036dex2311.htm">Consent of David W. Wanner, P.E.* </A></P></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>23.15</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dex51.htm">Consent of Bennett Jones LLP (included in Exhibit 5.1)* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>24.1</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036ds8.htm#sig">Powers of Attorney (included on the signature page hereto).* </A></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="8"></TD>
  <TD HEIGHT="8" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" NOWRAP>107</TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top"><A HREF="d830036dexfilingfees.htm">Filing Fee Table* </A></TD></TR>
  </TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
  <TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Filed herewith. </P></TD></TR></TABLE>
  <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;9. Undertakings. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR style = "page-break-inside:avoid">
  <TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
  <TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The undersigned Registrant hereby undertakes: </P></TD></TR></TABLE>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </P>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">(i) To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act; </P>
  <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
  post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
  offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the
  Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20&nbsp;percent change in the maximum aggregate offering price set forth in the &#147;Calculation of Filing Fees&#148; table in the
  effective registration statement; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">(iii) To include any material information with respect to the plan of distribution not previously
  disclosed in the registration statement or any material change to such information in the registration statement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Provided, however,</I> that
  paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to
  Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by reference in the registration statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) That, for
  the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
  shall be deemed to be the initial bona fide offering thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) To remove from registration by means of a post-effective amendment any
  of the securities being registered which remain unsold at the termination of the offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) The undersigned Registrant hereby undertakes that, for
  purposes of determining any liability under the Securities Act, each filing of the Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Exchange Act that is incorporated by reference in the registration
  statement shall be deemed to be a new registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the
  Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling </P>
  </DIV></Center>
  
  
  <p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
  <HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  
  <Center><DIV STYLE="width:8.5in" align="left">
   <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
  person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being
  registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as
  expressed in the Securities Act and will be governed by the final adjudication of such issue. </P>
  </DIV></Center>
  
  
  <p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
  <HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  
  <Center><DIV STYLE="width:8.5in" align="left">
   <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="sig"></A>SIGNATURES </B></P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act of 1933, First Majestic Silver Corp. certifies that it has reasonable grounds to believe
  that it meets all of the requirements for filing on Form <FONT STYLE="white-space:nowrap">S-8</FONT> and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Vancouver, British
  Columbia, Canada, on January&nbsp;16, 2025. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">
  
  
  <TR>
  
  <TD WIDTH="7%"></TD>
  
  <TD VALIGN="bottom" WIDTH="1%"></TD>
  <TD WIDTH="12%"></TD>
  
  <TD VALIGN="bottom" WIDTH="1%"></TD>
  <TD WIDTH="79%"></TD></TR>
  
  
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" COLSPAN="5"><B>FIRST MAJESTIC SILVER CORP.</B></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="4"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="bottom">By:</TD>
  <TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
  <TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Keith Neumeyer</TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="bottom"></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">Name:</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">Keith Neumeyer</TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="bottom"></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">Title:</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">President&nbsp;&amp; Chief Executive Officer</TD></TR>
  </TABLE></DIV> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>POWER OF ATTORNEY </B></P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each person whose signature appears below constitutes and appoints Keith Neumeyer and David Soares, and each of them, either of whom may act
  without the joinder of the other, as his true and <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">lawful&nbsp;attorneys-in-fact&nbsp;and</FONT></FONT> agents, with full power of substitution and resubstitution, for him and in his
  name, place and stead, in any and all capacities, to sign any or all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto and other documents in connection therewith, with
  the Securities and Exchange Commission, granting unto <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">said&nbsp;attorneys-in-fact&nbsp;and</FONT></FONT> agents full power and authority to do and perform each and every act and thing
  requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that
  <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">said&nbsp;attorneys-in-fact&nbsp;and</FONT></FONT> agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof. </P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the
  capacities and on January&nbsp;16, 2025. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">
  
  
  <TR>
  
  <TD WIDTH="38%"></TD>
  
  <TD VALIGN="bottom" WIDTH="1%"></TD>
  <TD WIDTH="59%"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
  <TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Signature</B></P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Title</B></P></TD></TR>
  
  
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Keith Neumeyer</P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Keith Neumeyer</P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top">President&nbsp;&amp; Chief Executive Officer and Director (Principal Executive Officer)</TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David Soares</P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">David Soares</P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top">Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)</TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marjorie Co</P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Marjorie Co</P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top">Director</TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thomas F. Fudge, Jr.</P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Thomas F. Fudge, Jr.</P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top">Director (Chairman of the Board)</TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Raymond Polman</P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Raymond Polman</P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top">Director</TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="2"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Colette Rustad</P>
  <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Colette Rustad</P></TD>
  <TD VALIGN="bottom">&nbsp;&nbsp;</TD>
  <TD VALIGN="top">Director</TD></TR>
  </TABLE>
  </DIV></Center>
  
  
  <p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
  <HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
  
  <Center><DIV STYLE="width:8.5in" align="left">
   <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AUTHORIZED REPRESENTATIVE </B></P>
  <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of Section&nbsp;6(a) of the Securities Act of 1933, the undersigned has signed this registration statement,
  solely in its capacity as the duly authorized representative of First Majestic Silver Corp. in the United States, on January&nbsp;16, 2025. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">
  
  
  <TR>
  
  <TD WIDTH="7%"></TD>
  
  <TD VALIGN="bottom" WIDTH="1%"></TD>
  <TD WIDTH="12%"></TD>
  
  <TD VALIGN="bottom" WIDTH="1%"></TD>
  <TD WIDTH="79%"></TD></TR>
  
  
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="top" COLSPAN="5"><B>PUGLISI&nbsp;&amp; ASSOCIATES</B></TD></TR>
  <TR STYLE="font-size:1pt">
  <TD HEIGHT="16"></TD>
  <TD HEIGHT="16" COLSPAN="4"></TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="bottom">By:</TD>
  <TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
  <TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Donald J. Puglisi</TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="bottom"></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">Name:</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">Donald J. Puglisi</TD></TR>
  <TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
  <TD VALIGN="bottom"></TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">Title:</TD>
  <TD VALIGN="bottom">&nbsp;</TD>
  <TD VALIGN="bottom">Managing Director</TD></TR>
  </TABLE></DIV>
  </DIV></Center>
  
  </BODY></HTML>
metadata_documents: [{"type": "S-8", "sequence": "1", "filename": "d830036ds8.htm", "description": "S-8", "secsgml_size_bytes": 69360}]
metadata_filer: {"company-data": {"conformed-name": "FIRST MAJESTIC SILVER CORP", "cik": "0001308648", "assigned-sic": "1040", "organization-name": "01 Energy & Transportation", "irs-number": "000000000", "state-of-incorporation": "A1", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-284314", "film-number": "25535126"}, "business-address": {"street1": "925 WEST GEORGIA STREET", "street2": "SUITE 1800", "city": "VANCOUVER", "state": "A1", "zip": "V6C 3L2", "phone": "604-688-3033"}, "mail-address": {"street1": "925 WEST GEORGIA STREET", "street2": "SUITE 1800", "city": "VANCOUVER", "state": "A1", "zip": "V6C 3L2"}, "former-company": {"former-conformed-name": "FIRST MAJESTIC RESOURCE CORP", "date-changed": "20041115"}}
text: S-8
  As filed with the Securities and Exchange Commission on January 16, 2025
  Registration No. 333-
  UNITED STATES
  SECURITIES
  AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM
  S-8
  REGISTRATION STATEMENT
  UNDER
  THE
  SECURITIES ACT OF 1933
  First Majestic Silver Corp.
  (Exact name of registrant as specified in its charter)
  British Columbia
  Not Applicable
  (State or other jurisdiction of
  incorporation or organization)
  (I.R.S. Employer
  Identification Number)
  Suite 1800 – 925 West Georgia Street
  Vancouver, British Columbia, Canada
  V6C 3L2
  (Address of Principal Executive Offices)
  (Zip Code)
  Gatos Silver, Inc. Amended and Restated Long Term Incentive Plan
  (Full title of the plan)
  Puglisi & Associates
  850 Library Avenue, Suite 204
  Newark, Delaware 19711
  (302)
  738-6680
  (Name, address and telephone number, including area code, of agent for service)
  with copies to:
  Samir Patel
  General Counsel & Corporate Secretary
  First Majestic Silver Corp.
  Suite 1800, 925 West Georgia Street
  Vancouver, British Columbia V6C 3L2
  Canada
  (604)
  688-3033
  Daniel M. Miller
  Dorsey & Whitney LLP
  Suite 855, 1095 West Pender Street
  Vancouver, British Columbia V6E 2M6
  Canada
  (604)
  630-5199
  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
  non-accelerated
  filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule
  12b-
  2 of the Exchange Act.
  Large accelerated filer
  ☑
  Accelerated filer
  ☐
  Non-accelerated filer
  ☐ (Do not check if a smaller reporting company)
  Smaller reporting company
  ☐
  Emerging growth company
  ☐
  If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
  for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
  EXPLANATORY NOTE
  On January 16, 2025, the Registrant completed the acquisition of Gatos Silver, Inc. pursuant to the Agreement and Plan of Merger, or the
  "Merger Agreement", dated as of September 5, 2024, by and among the Registrant, Ocelot Transaction Corporation, a wholly-owned subsidiary of the Registrant, and Gatos Silver. This registration statement is being filed by the
  Registrant to register 8,242,244 common shares, without par value, of the Registrant that may be issuable upon the exercise of options granted under the Gatos Silver, Inc. Amended and Restated Long Term Incentive Plan, which were assumed by the
  Registrant and converted into options to acquire Registrant common shares pursuant to the Merger Agreement.
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  The document(s) containing the information required by Item 1 of Form
  S-8
  and the statement of
  availability of registrant information and any other information required by Item 2 of Form
  S-8
  will be sent or given to participants as specified by Rule 428 under the Securities Act of 1933, as amended. In
  accordance with Rule 428 and the requirements of Part I of Form
  S-8,
  such documents are not being filed with the United States Securities and Exchange Commission, or the "Commission", either as part
  of this registration statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. The Registrant will maintain a file of such documents in accordance with the provisions of Rule 428. Upon request, the
  Registrant will furnish to the Commission or its staff a copy of any or all of the documents included in such file.
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3. Incorporation of Documents by Reference.
  The following documents filed by the Registrant with the Commission pursuant to the Securities Exchange Act of 1934, as amended, are
  incorporated into this registration statement by reference:
  •
  The Registrant's Annual Report on
  Form
  40-F
  for the year ended December 31, 2023;
  •
  Exhibits 99.1 and 99.2 to the Registrant's Current Reports on Form
  6-K
  furnished to the Commission on
  May
  8, 2024
  ,
  August
  1, 2024
  and
  November 7,
  2024
  that include quarterly financial information;
  •
  Exhibit 99.3
  to
  the Registrant's Current Report on Form
  6-K
  furnished to the Commission on December 11, 2024;
  •
  Exhibit 99.3
  to
  the Registrant's Current Report on Form
  6-K
  furnished to the Commission on April 15, 2024;
  •
  Exhibit 99.1
  to
  the Registrant's Current Report on Form
  6-K
  furnished to the Commission on September 9, 2024;
  •
  The Registrant's Report on
  Form
  6-K
  furnished to the Commission on December 20, 2024;
  •
  The description of the Registrant's common shares contained in its registration statement on Form
  40-F
  filed with the Commission on
  November
  23, 2010
  under Section 
  12 of the Exchange Act, as amended on
  December
  8, 2010
  , and all amendments and reports filed for the purpose of updating such description;
  and
  •
  All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the Exchange Act since
  December 31, 2023.
  Each document filed by the Registrant with the Commission pursuant to Sections 13(a), 13(c), 14
  and 15(d) of the Exchange Act subsequent to the date of this registration statement and prior to the filing of any post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold or which
  deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement and to be a part hereof from the date of filing of such documents. In addition, any information circular, unaudited
  interim consolidated financial statements, management's discussion and analysis, material change reports (excluding confidential material change reports) or business acquisition reports subsequently filed by the Registrant
  with securities commissions or similar authorities in the relevant provinces and territories of Canada after the date of this registration statement, and prior to the filing of a post-effective
  amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this registration statement from the applicable Report on
  Form
  6-K
  on which such document is furnished to the Commission. In addition, any Form
  6-K
  furnished by the Registrant during such period or portions thereof, in each
  case that are identified in such Form
  6-K
  as being incorporated by reference into this registration statement, shall be deemed to be incorporated by reference into and to be part of this registration statement
  from the date of filing of each such document.
  Any statement contained herein, in any amendment hereto or in a document incorporated by
  reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any subsequently-filed amendment to this registration statement or in any document that
  also is incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement
  Item 4. Description of Securities.
  Not applicable.
  Item 5. Interests of
  Named Experts and Counsel.
  Not applicable.
  Item 6. Indemnification of Directors and Officers.
  The Registrant is subject to the provisions of Part 5, Division 5 of the Business Corporations Act (British Columbia) (the "Act").
  Under Section 160 of the Act, the Registrant may, subject to Section 163 of the Act:
  (1)
  indemnify an individual who:
  •
  is or was a director or officer of the Registrant;
  •
  is or was a director or officer of another corporation (i) at a time when such corporation is or was an
  affiliate of the Registrant; or (ii) at the Registrant's request, or
  •
  at the Registrant's request, is or was, or holds or held a position equivalent to that of, a director or
  officer of a partnership, trust, joint venture or other unincorporated entity,
  and including, subject to certain limited
  exceptions, the heirs and personal or other legal representatives of that individual (collectively, an "eligible party"), against all eligible penalties to which the eligible party is or may be liable; and
  (2)
  after final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an
  eligible party in respect of that proceeding, where:
  "eligible penalty" means a judgment, penalty or fine
  awarded or imposed in, or an amount paid in settlement of, and eligible proceeding.
  "eligible proceeding" means a proceeding in
  which an eligible party or any of the heirs and personal or other legal representatives of the eligible party, by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of
  a director or officer of, the Registrant or an associated corporation (a) is or may be joined as a party, or (b) is or may be liable for or in respect of a judgment, penalty or fine in, or expenses related to, the proceeding.
  "proceeding" includes any legal proceeding or investigative action, whether current, threatened , pending or completed.
  Under Section 161 of the Act, and subject to Section 163 of the Act, the
  Registrant must, after the final disposition of an eligible proceeding, pay the expenses actually and reasonably incurred by an eligible party in respect of that proceeding if the eligible party (a) has not been reimbursed for those expenses,
  and (b) is wholly successful, on the merits or otherwise, in the outcome of the proceeding or is substantially successful on the merits in the outcome of the proceeding.
  Under Section 162 of the Act, and subject to Section 163 of the Act, the Registrant may pay, as they are incurred in advance of the
  final disposition of an eligible proceeding, the expenses actually and reasonably incurred by an eligible party in respect of the proceeding, provided that the Registrant must not make such payments unless we first receive from the eligible party a
  written undertaking that, if it is ultimately determined that the payment of expenses is prohibited under Section 163 of the Act, the eligible party will repay the amounts advanced.
  Under Section 163 of the Act, the Registrant must not indemnify an eligible party against eligible penalties to which the eligible party
  is or may be liable or pay the expenses of an eligible party in respect of that proceeding under Sections 160, 161 or 162 of the Act, as the case may be, if any of the following circumstances apply:
  •
  if the indemnity or payment is made under an earlier agreement to indemnify or pay expenses and, at the time that
  the agreement to indemnify or pay expenses was made, the Registrant was prohibited from giving the indemnity or paying the expenses by its memorandum or articles;
  •
  if the indemnity or payment is made otherwise than under an earlier agreement to indemnify or pay expenses and,
  at the time that the indemnity or payment is made, the Registrant are prohibited from giving the indemnity or paying the expenses by its memorandum or articles;
  •
  if, in relation to the subject matter of the eligible proceeding, the eligible party did not act honestly and in
  good faith with a view to the best interests of the Registrant or the associated corporation, as the case may be; or
  •
  in the case of an eligible proceeding other than a civil proceeding, if the eligible party did not have
  reasonable grounds for believing that the eligible party's conduct in respect of which the proceeding was brought was lawful.
  If an eligible proceeding is brought against an eligible party by or on behalf of the Registrant or by or on behalf of an associated
  corporation, the Registrant must not either indemnify the eligible party against eligible penalties to which the eligible party is or may be liable, or pay the expenses of the eligible party under Sections 160, 161 or 162 of the Act, as
  the case may be, in respect of the proceeding.
  Under Section 164 of the Act, and despite any other provision of Part 5,
  Division 5 of the Act and whether or not payment of expenses or indemnification has been sought, authorized or declined under Part 5, Division 5 of the Act, on application of the Registrant or an eligible party, the Supreme Court of British Columbia
  may do one or more of the following:
  •
  order the Registrant to indemnify an eligible party against any liability incurred by the eligible party in
  respect of an eligible proceeding;
  •
  order the Registrant to pay some or all of the expenses incurred by an eligible party in respect of an eligible
  proceeding;
  •
  order the enforcement of, or payment under, an agreement of indemnification entered into by the Registrant;
  •
  order the Registrant to pay some or all of the expenses actually and reasonably incurred by any person in
  obtaining an order under Section 164 of the Act; or
  •
  make any other order the court considers appropriate.
  Section 165 of the Act provides that the Registrant may purchase and maintain insurance for the benefit of an eligible party or the heirs
  and personal or other legal representatives of the eligible party against any liability that may be incurred by reason of the eligible party being or having been a director or officer of, or holding or having held a position equivalent to that of a
  director or officer of, the Registrant or an associated corporation.
  Under the Registrant's articles, and subject to the Act, the Registrant must indemnify
  a director, former director or alternate director and his or her heirs and legal personal representatives against all eligible penalties to which such person is or may be liable, and the Registrant must, after the final disposition of an eligible
  proceeding, pay the expenses actually and reasonably incurred by such person in respect of that proceeding. Each eligible party is deemed to have contracted with the Registrant on the terms of the indemnity contained in the Registrant's
  articles.
  Under the Registrant's articles, and subject to the Act, the Registrant may agree to indemnify and may indemnify any
  person (including an eligible party). The Registrant has entered into indemnity agreements with certain of the Registrant's directors and officers.
  Pursuant to the Registrant's articles, the failure of an eligible party to comply with the Act or the Registrant's articles does
  not, of itself, invalidate any indemnity to which he or she is entitled under the Registrant's articles.
  Under the Registrant's
  articles, the Registrant may purchase and maintain insurance for the benefit of an eligible person (or his or her heirs or legal personal representatives) against any liability incurred by him or her as a director, officer or person who holds or
  held such equivalent position.
  Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended, may be
  permitted to directors, officers or persons controlling the Registrant's company pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such indemnification is against public policy as
  expressed in the Act and is therefore unenforceable.
  Item 7. Exemption from Registration Claimed.
  Not applicable.
  Item 8. Exhibits.
  Exhibit
  No.
  Description
  4.1
  Certificate of Continuation and Certificate of Change of Name (incorporated by reference to Exhibit 4.1 to the registration statement on Form
  S-8
  filed by First Majestic Silver Corp. on July
  23, 2021 (File No.
  333-258124)).
  4.2
  Notice of Articles and Articles filed under the
  Business Corporations Act
  (British Columbia) (incorporated by reference to Exhibit 4.2
   to the registration statement on Form
  S-8
  filed by First Majestic Silver Corp. on July
  23, 2021 (File No.
  333-258124)).
  4.3
  Gatos Silver, Inc. Amended and Restated Long-Term Incentive Plan.*
  5.1
  Opinion of Bennett Jones LLP*
  23.1
  Consent of Deloitte LLP, Independent Registered Public Accounting Firm.*
  23.2
  Consent of Ramon Mendoza Reyes, P. Eng.*
  23.3
  Consent of Persio P. Rosario, P. Eng.*
  23.4
  Consent of María Elena Vázquez Jaimes, P. Geo.*
  23.5
  Consent of Phillip J. Spurgeon, P. Geo.*
  23.6
  Consent of Brian Boutilier, P.Eng.*
  23.7
  Consent of David Rowe, CPG*
  23.8
  Consent of Joaquin Merino-Marquez, P. Geo.*
  23.9
  Consent of Gonzalo Mercado, P.Geo.*
  23.10
  Consent of Michael Jarred Deal, RM SMEP*
  23.11
  Consent of David W. Wanner, P.E.*
  23.15
  Consent of Bennett Jones LLP (included in Exhibit 5.1)*
  24.1
  Powers of Attorney (included on the signature page hereto).*
  107
  Filing Fee Table*
  *
  Filed herewith.
  Item 9. Undertakings.
  (a)
  The undersigned Registrant hereby undertakes:
  (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
  (i) To include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
  post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
  offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the
  Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Filing Fees" table in the
  effective registration statement; and
  (iii) To include any material information with respect to the plan of distribution not previously
  disclosed in the registration statement or any material change to such information in the registration statement;
  Provided, however,
  that
  paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to
  Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.
  (2) That, for
  the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
  shall be deemed to be the initial bona fide offering thereof.
  (3) To remove from registration by means of a post-effective amendment any
  of the securities being registered which remain unsold at the termination of the offering.
  (b) The undersigned Registrant hereby undertakes that, for
  purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in the registration
  statement shall be deemed to be a new registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  (c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the
  Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.
  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
  person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being
  registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as
  expressed in the Securities Act and will be governed by the final adjudication of such issue.
  SIGNATURES
  Pursuant to the requirements of the Securities Act of 1933, First Majestic Silver Corp. certifies that it has reasonable grounds to believe
  that it meets all of the requirements for filing on Form
  S-8
  and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Vancouver, British
  Columbia, Canada, on January 16, 2025.
  FIRST MAJESTIC SILVER CORP.
  By:
  /s/ Keith Neumeyer
  Name:
  Keith Neumeyer
  Title:
  President & Chief Executive Officer
  POWER OF ATTORNEY
  Each person whose signature appears below constitutes and appoints Keith Neumeyer and David Soares, and each of them, either of whom may act
  without the joinder of the other, as his true and
  lawful attorneys-in-fact and
  agents, with full power of substitution and resubstitution, for him and in his
  name, place and stead, in any and all capacities, to sign any or all amendments (including post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto and other documents in connection therewith, with
  the Securities and Exchange Commission, granting unto
  said attorneys-in-fact and
  agents full power and authority to do and perform each and every act and thing
  requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that
  said attorneys-in-fact and
  agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.
  Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the
  capacities and on January 16, 2025.
  Signature
  Title
  /s/ Keith Neumeyer
  Keith Neumeyer
  President & Chief Executive Officer and Director (Principal Executive Officer)
  /s/ David Soares
  David Soares
  Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)
  /s/ Marjorie Co
  Marjorie Co
  Director
  /s/ Thomas F. Fudge, Jr.
  Thomas F. Fudge, Jr.
  Director (Chairman of the Board)
  /s/ Raymond Polman
  Raymond Polman
  Director
  /s/ Colette Rustad
  Colette Rustad
  Director
  AUTHORIZED REPRESENTATIVE
  Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, the undersigned has signed this registration statement,
  solely in its capacity as the duly authorized representative of First Majestic Silver Corp. in the United States, on January 16, 2025.
  PUGLISI & ASSOCIATES
  By:
  /s/ Donald J. Puglisi
  Name:
  Donald J. Puglisi
  Title:
  Managing Director