First Majestic Silver Corp.

10:41 AM EST - First Majestic Silver Corp. : Announced an update related to the ongoing tax dispute with the Mexican tax authority, the Servicio de Administracion Tributaria in connection with the 2012 Advance Pricing Agreement granted to Primero Empresa Minera, S.A. de C.V., a subsidiary of the Company. As previously announced the Company served the Government of Mexico with a Notice of Intent to Submit a Claim under the provisions of Chapter 11 of North American Free Trade Agreement. The service of this Notice initiated a 90-day process for the Government of Mexico to enter into good faith and amicable negotiations with the Company to resolve the dispute. On August 11, the 90-day process deadline expired without any resolution of the tax dispute. First Majestic Silver Corp. shares T.FR are trading down $0.81 at $12.87.