# EDGAR Filing Document

**Accession Number:** 0001308648
**File Stem:** 0001062993-25-015095
**Filing Date:** 2025-8
**Character Count:** 154638
**Document Hash:** b1ae1b14f8b4c2b24ff53330581cc786
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-25-015095.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001062993-25-015095

**CONFORMED SUBMISSION TYPE**: SD

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250829

**DATE AS OF CHANGE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST MAJESTIC SILVER CORP
- **CENTRAL INDEX KEY:** 0001308648
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SD
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34984
- **FILM NUMBER:** 251280018

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 925 WEST GEORGIA STREET
- **STREET 2:** SUITE 1800
- **CITY:** VANCOUVER
- **PROVINCE COUNTRY:** A1
- **BUSINESS PHONE:** 604-688-3033

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 925 WEST GEORGIA STREET
- **STREET 2:** SUITE 1800
- **CITY:** VANCOUVER
- **PROVINCE COUNTRY:** A1

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST MAJESTIC RESOURCE CORP
- **DATE OF NAME CHANGE:** 20041115

------

**UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549**

**FORM SD**

**Specialized Disclosure Report**

**<u>FIRST MAJESTIC SILVER CORP.</u>**<br> (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| <u>**British Columbia, Canada**</u> | <u>**001-34984**</u> | <u>**Not applicable**</u> |
| (State or other jurisdiction of<br>incorporation or organization) | (Commission File Number) | (IRS Employer<br>Identification No.) |

---

---

| | |
|:---|:---|
| **Suite 1800 – 925 West Georgia Street<br><u>Vancouver, British Columbia, Canada</u>** | <u>**V6C 3L2**</u> |
| (Address of principal executive offices) | (Zip Code) |

---

**David Soares<br>First Majestic Silver Corp.<br><u>(604) 688-3033</u>**<br> (Name and telephone number, including area code, of person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this form is being filed, and provide the period to which the information in this form applies:

☐ Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, ___________.

☒ Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2024. <br>

------

**SECTION 1 – CONFLICT MINERALS DISCLOSURE**

**Item 1.01 - Conflict Minerals Disclosure and Report**

Not applicable

**Item 1.02 - Exhibit**

Not applicable

**SECTION 2 – RESOURCE EXTRACTION ISSUER DISCLOSURE**

**Item 2.01 Resource Extraction Issuer Disclosure and Report**

First Majestic Silver Corp. ("First Majestic") is subject to Canada's Extractive Sector Transparency Measures Act ("ESTMA"). First Majestic is relying on the alternative reporting provision of Item 2.01 and providing its ESTMA report for the year ended December 31, 2024 to satisfy the requirements of Item 2.01. First Majestic's ESTMA report is available on First Majestic's website at https://firstmajestic.com/investors/reports-filings/ or on the Government of Canada's website at https://natural-resources.canada.ca/our-natural-resources/minerals-mining/services-for-the-mining-industry/extractive-sector-transparency-measures-act/links-estma-reports/18198. The payment disclosure required by Form SD is included as Exhibit 2.01 to this Form SD.

**SECTION 3 – EXHIBITS**

**Item 3.01. Exhibits**

The following exhibit is filed as part of this report.

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| [2.01](exhibit2-01.htm) | [Extractive Sector Transparency Measures Act – Annual Report for the year ended December 31, 2024](exhibit2-01.htm) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned.

---

| | | |
|:---|:---|:---|
| **FIRST MAJESTIC SILVER CORP.** | **FIRST MAJESTIC SILVER CORP.** | **FIRST MAJESTIC SILVER CORP.** |
| By: | /s/ *Samir Patel* | August 30, 2025 |
|  | Samir Patel | (Date) |
|  | General Counsel & Corporate Secretary |  |

---

------

## Ex-2

------

UNCLASSIFIED - NON CLASSIFIÉ#

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** |
| **Reporting Entity Name** | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. |
| **Reporting Year** | **From** | 2024-01-01 | **To:** | 2024-12-31 | **Date submitted** | 2025-08-28 |
| **Reporting Entity ESTMA Identification Number** | E313966 | E313966 | ![](exhibit2-01x003.jpg) Original Submission | ![](exhibit2-01x003.jpg) Original Submission | **Report Version** | **Report Version** |
| **Reporting Entity ESTMA Identification Number** | E313966 | E313966 | ![](exhibit2-01x002.jpg) Amended Report | ![](exhibit2-01x002.jpg) Amended Report | 2 | 2 |
| **Other Subsidiaries Included**<br>(optional field) |  |  |  |  |  |  |
| **Not Consolidated** |  |  |  |  |  |  |
| **Not Substituted** |  |  |  |  |  |  |
| **Attestation by Reporting Entity** |  |  |  |  |  |  |
| *In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.* | *In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.* | *In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.* | *In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.* | *In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.* | *In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.* | *In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.* |
| **Full Name of Director or Officer of Reporting Entity** | **David Soares** | **David Soares** | **David Soares** | **David Soares** | **Date** | *2025-08-28* |
| **Position Title** | **Chief Financial Officer** | **Chief Financial Officer** | **Chief Financial Officer** | **Chief Financial Officer** | **Date** | *2025-08-28* |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** |
| **Reporting Year** | **From:** | 2024-01-01 | **To:** | 2024-12-31 |  |  |
| **Reporting Entity Name** | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. | **Currency of the Report** | &nbsp;&nbsp;CAD |
| **Reporting Entity ESTMA Identification Number** | E313966 | E313966 | E313966 | E313966 |  |  |
| **Subsidiary Reporting Entities (if necessary)** |  |  |  |  |  |  |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** | **Payments by Payee** |
| **Country** | **Payee Name<sup>1</sup>** | **Departments, <br>Agency, etc — <br>within Payee that <br>Received**<br>**Payments<sup>2</sup>** | **Taxes** | **Royalties** | **Fees** | **Production <br>Entitlements** | **Bonuses** | **Dividends** | **Infrastructure <br>Improvement <br>Payments** | **Total <br>Amount paid <br>to Payee** | **Notes<sup>34</sup>** |
| Mexico | Government of Mexico | Tax Administration Service | 26220000 | 7370000 | 100000 |  |  |  |  | **29930000** | Payments related to income taxes, 0.5% extraordinary mining duty(Royalties), and "MAP" (Fees). |
| Mexico | Government of Mexico | Economy Secretary |  |  | 8220000 |  |  |  |  | **8220000** | Payments related to mining concessions (Fees). |
| Switzerland | Canton of Zurich | Cantonal Tax Office Zurich | 920000 |  |  |  |  |  |  | **920000** | Payments related to state taxes. |
| Mexico | Government of Mexico | National Water Commission |  |  | 900000 |  |  |  |  | **900000** | Payments related to water rights. |
| United States of America | Government of the United States of America | Bureau of Land Management |  |  | 890000 |  |  |  |  | **890000** | Payments related to land claims. |
| United States of America | Elko County | Elko County Treasurer | 720000 |  |  |  |  |  |  | **720000** | Payments related to property taxes. |
| Mexico | Government of Mexico | Secretary of Finance and Administration |  |  | 520000 |  |  |  |  | **520000** | Payments related to vehicles and property taxes |
| Mexico | Municipality of Banamichi |  |  |  | 310000 |  |  |  |  | **310000** | Payments related to property taxes. |
| United States of America | State of Nevada | Nevada Department of Environmental Protection |  |  | 220000 |  |  |  |  | **220000** | Payments related to environmental permits. |
| United States of America | State of Nevada | Nevada Division of Water Resources |  |  | 120000 |  |  |  |  | **120000** | Payments for water rights. |
| Mexico | Municipality of San Dimas |  |  |  |  |  |  |  | 120000 | **120000** | Payments to community for land and infrastructure improvements. |
| Mexico | Municipality of Ocampo |  |  |  | 110000 |  |  |  |  | **110000** | Payments related to Mine Safety and Health and Internal Revenue Services fees. |
| Mexico | Government of Mexico | Energy Regulatory Commission |  |  | 80000 |  |  |  |  | **80000** | Payments related to city taxes. |
| United States of America | State of Nevada | Nevada Division of Taxation | 80000 |  |  |  |  |  |  | **80000** | Payments related to mining royalties. |
| United States of America | Elko County | Elko County Recorders Office |  |  | 50000 |  |  |  |  | **50000** | Payments related to mineral claims. |
| United States of America | State of Nevada | Nevada Department of Wildlife |  |  | 40000 |  |  |  |  | **40000** | Payments related to permitting fees. |
| Mexico | Government of Mexico | Secretary of Communications and Transport |  |  | 30000 |  |  |  |  | **30000** | Payments related to state taxes. |
| Mexico | Government of Mexico | Secretary of Public Security |  |  | 30000 |  |  |  |  | **30000** | Payments related to safety permits. |
| Mexico | Government of Mexico | Secretary of Environment and Natural Resources |  |  | 20000 |  |  |  |  | **20000** | Payments related to environmental permits. |
| Mexico | Municipality of Chalchihuites |  |  |  | 20000 |  |  |  |  | **20000** | Payments related to water rights. |
| United States of America | State of Nevada | Nevada Department of Motor Vehicles |  |  | 10000 |  |  |  |  | **10000** | Payments related to vehicle registration fees. |
| Mexico | Government of Mexico | Treasury of the Federation |  |  | 10000 |  |  |  |  | **10000** | Payments related to explosive permissions |
| **Additional Notes:** | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | Payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD. An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** | **Extractive Sector Transparency Measures Act - Annual Report** |
| **Reporting Year** | **From:** | 2024-01-01 | **To:** | 2024-12-31 |  |  |
| **Reporting Entity Name** | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. | First Majestic Silver Corp. | **Currency of the Report** | &nbsp;&nbsp;CAD |
| **Reporting Entity ESTMA Identification Number** | E313966 | E313966 | E313966 | E313966 |  |  |
| **Subsidiary Reporting Entities (if necessary)** |  |  |  |  |  |  |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** | **Payments by Project** |
| **Country** | **Project Name<sup>1</sup>** | **Taxes** | **Royalties** | **Fees** | **Production Entitlements** | **Bonuses** | **Dividends** | **Infrastructure <br>Improvement Payments** | **Total Amount paid <br>by Project** | **Notes<sup>23</sup>** |
| Mexico | Santa Elena Silver and Gold Mine | 14780000 | 1460000 | 4160000 |  |  |  |  | **20400000** |  |
| Mexico | San Dimas Silver and Gold Mine | 10670000 | 1720000 | 2850000 |  |  |  | 120000 | **15360000** |  |
| Mexico | La Parrilla Silver Mine |  |  | 1700000 |  |  |  |  | **1700000** |  |
| Mexico | San Martin Silver mine |  |  | 460000 |  |  |  |  | **460000** |  |
| Mexico | La Encantada Silver Mine |  | 430000 | 330000 |  |  |  |  | **760000** |  |
| Mexico | La Luz Silver Project |  |  | 160000 |  |  |  |  | **16000** |  |
| Mexico | Corporate | 770000 |  | 140000 |  |  |  |  | **910000** |  |
| Mexico | Del Toro Silver Mine |  |  | 550000 |  |  |  |  | **550000** |  |
| United States of America | Jerritt Canyon Gold Mine | 800000 |  | 1330000 |  |  |  |  | **2130000** |  |
| Switzerland | Corporate | 920000 |  |  |  |  |  |  | **920000** |  |
| **Additional Notes<sup>3</sup>:** | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". | &nbsp;&nbsp;(a) Taxes relate to income taxes, property taxes and 7.5% mining royalty paid to Servicio de Administracion Tributar<br>(b) Royalties relate to 0.5% extraordinary mining duty paid to Secretaria de Administracion Tributar<br>(c) Fees primarily relate to mining concessions paid to Secretaria de Economia; other fees include water rights, mineral claims, energy rights, environmental permits and aerial permits.<br>(d) All payments are converted based on an annual average foreign exchange rate of 13.43 MXN to CAD, 0.674 EUR to CAD, 0.642 CHF to CAD and 0.73 USD to CAD.<br>(e) An amendment made to properly reflect payments to community under "Infrastructure Improvement Payments". |

---

------

## Exhibit 2.01

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	<rxp:TotalPayments contextRef="D_LaParrillaSilverMineMember" unitRef="CAD" decimals="0">1700000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_SanDimasSilverAndGoldMineMember" unitRef="CAD" decimals="0">2850000</rxp:Fees>
	<rxp:InfrastructureImprovements contextRef="D_SanDimasSilverAndGoldMineMember" unitRef="CAD" decimals="0">120000</rxp:InfrastructureImprovements>
	<rxp:Royalties contextRef="D_SanDimasSilverAndGoldMineMember" unitRef="CAD" decimals="0">1720000</rxp:Royalties>
	<rxp:Taxes contextRef="D_SanDimasSilverAndGoldMineMember" unitRef="CAD" decimals="0">10670000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_SanDimasSilverAndGoldMineMember" unitRef="CAD" decimals="0">15360000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_SanMartinSilverMineMember" unitRef="CAD" decimals="0">460000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_SanMartinSilverMineMember" unitRef="CAD" decimals="0">460000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_SantaElenaSilverAndGoldMineMember" unitRef="CAD" decimals="0">4160000</rxp:Fees>
	<rxp:Royalties contextRef="D_SantaElenaSilverAndGoldMineMember" unitRef="CAD" decimals="0">1460000</rxp:Royalties>
	<rxp:Taxes contextRef="D_SantaElenaSilverAndGoldMineMember" unitRef="CAD" decimals="0">14780000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_SantaElenaSilverAndGoldMineMember" unitRef="CAD" decimals="0">20400000</rxp:TotalPayments>
	<rxp:Fees contextRef="D" unitRef="CAD" decimals="0">11680000</rxp:Fees>
	<rxp:InfrastructureImprovements contextRef="D" unitRef="CAD" decimals="0">120000</rxp:InfrastructureImprovements>
	<rxp:Royalties contextRef="D" unitRef="CAD" decimals="0">3610000</rxp:Royalties>
	<rxp:Taxes contextRef="D" unitRef="CAD" decimals="0">27940000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D" unitRef="CAD" decimals="0">43350000</rxp:TotalPayments>
	<rxp:Taxes contextRef="D_CH_CantonOfZurichCantonalTaxOfficeZurichMember" unitRef="CAD" decimals="0">920000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_CH_CantonOfZurichCantonalTaxOfficeZurichMember" unitRef="CAD" decimals="0">920000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoEconomySecretaryMember" unitRef="CAD" decimals="0">8220000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoEconomySecretaryMember" unitRef="CAD" decimals="0">8220000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoEnergyRegulatoryCommissionMember" unitRef="CAD" decimals="0">80000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoEnergyRegulatoryCommissionMember" unitRef="CAD" decimals="0">80000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoNationalWaterCommissionMember" unitRef="CAD" decimals="0">900000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoNationalWaterCommissionMember" unitRef="CAD" decimals="0">900000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" unitRef="CAD" decimals="0">30000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" unitRef="CAD" decimals="0">30000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" unitRef="CAD" decimals="0">20000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" unitRef="CAD" decimals="0">20000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" unitRef="CAD" decimals="0">520000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" unitRef="CAD" decimals="0">520000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoSecretaryOfPublicSecurityMember" unitRef="CAD" decimals="0">30000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoSecretaryOfPublicSecurityMember" unitRef="CAD" decimals="0">30000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoTaxAdministrationServiceMember" unitRef="CAD" decimals="0">100000</rxp:Fees>
	<rxp:Royalties contextRef="D_MX_GovernmentOfMexicoTaxAdministrationServiceMember" unitRef="CAD" decimals="0">3610000</rxp:Royalties>
	<rxp:Taxes contextRef="D_MX_GovernmentOfMexicoTaxAdministrationServiceMember" unitRef="CAD" decimals="0">26220000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoTaxAdministrationServiceMember" unitRef="CAD" decimals="0">29930000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_GovernmentOfMexicoTreasuryOfFederationMember" unitRef="CAD" decimals="0">10000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_GovernmentOfMexicoTreasuryOfFederationMember" unitRef="CAD" decimals="0">10000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_MunicipalityOfBanamichiMember" unitRef="CAD" decimals="0">310000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_MunicipalityOfBanamichiMember" unitRef="CAD" decimals="0">310000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_MunicipalityOfChalchihuitesMember" unitRef="CAD" decimals="0">20000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_MunicipalityOfChalchihuitesMember" unitRef="CAD" decimals="0">20000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_MX_MunicipalityOfOcampoMember" unitRef="CAD" decimals="0">110000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_MX_MunicipalityOfOcampoMember" unitRef="CAD" decimals="0">110000</rxp:TotalPayments>
	<rxp:InfrastructureImprovements contextRef="D_MX_MunicipalityOfSanDimasMember" unitRef="CAD" decimals="0">120000</rxp:InfrastructureImprovements>
	<rxp:TotalPayments contextRef="D_MX_MunicipalityOfSanDimasMember" unitRef="CAD" decimals="0">120000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_US_ElkoCountyElkoCountyRecordersOfficeMember" unitRef="CAD" decimals="0">50000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_US_ElkoCountyElkoCountyRecordersOfficeMember" unitRef="CAD" decimals="0">50000</rxp:TotalPayments>
	<rxp:Taxes contextRef="D_US_ElkoCountyElkoCountyTreasurerMember" unitRef="CAD" decimals="0">720000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_US_ElkoCountyElkoCountyTreasurerMember" unitRef="CAD" decimals="0">720000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_US_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" unitRef="CAD" decimals="0">890000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_US_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" unitRef="CAD" decimals="0">890000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_US_StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" unitRef="CAD" decimals="0">220000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_US_StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" unitRef="CAD" decimals="0">220000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_US_StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" unitRef="CAD" decimals="0">10000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_US_StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" unitRef="CAD" decimals="0">10000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_US_StateOfNevadaNevadaDepartmentOfWildlifeMember" unitRef="CAD" decimals="0">40000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_US_StateOfNevadaNevadaDepartmentOfWildlifeMember" unitRef="CAD" decimals="0">40000</rxp:TotalPayments>
	<rxp:Taxes contextRef="D_US_StateOfNevadaNevadaDivisionOfTaxationMember" unitRef="CAD" decimals="0">80000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_US_StateOfNevadaNevadaDivisionOfTaxationMember" unitRef="CAD" decimals="0">80000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_US_StateOfNevadaNevadaDivisionOfWaterResourcesMember" unitRef="CAD" decimals="0">120000</rxp:Fees>
	<rxp:TotalPayments contextRef="D_US_StateOfNevadaNevadaDivisionOfWaterResourcesMember" unitRef="CAD" decimals="0">120000</rxp:TotalPayments>
	<rxp:Taxes contextRef="D_CH" unitRef="CAD" decimals="0">920000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_CH" unitRef="CAD" decimals="0">920000</rxp:TotalPayments>
	<rxp:Royalties contextRef="D_MX" unitRef="CAD" decimals="0">3610000</rxp:Royalties>
	<rxp:Fees contextRef="D_MX" unitRef="CAD" decimals="0">10350000</rxp:Fees>
	<rxp:Taxes contextRef="D_MX" unitRef="CAD" decimals="0">26220000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_MX" unitRef="CAD" decimals="0">40300000</rxp:TotalPayments>
	<rxp:InfrastructureImprovements contextRef="D_MX" unitRef="CAD" decimals="0">120000</rxp:InfrastructureImprovements>
	<rxp:Taxes contextRef="D_US" unitRef="CAD" decimals="0">800000</rxp:Taxes>
	<rxp:TotalPayments contextRef="D_US" unitRef="CAD" decimals="0">2130000</rxp:TotalPayments>
	<rxp:Fees contextRef="D_US" unitRef="CAD" decimals="0">1330000</rxp:Fees>
</xbrli:xbrl>
</XBRL>

```

## Exhibit 2.01

```

<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<xs:schema
	targetNamespace="http://ag/20241231"
	elementFormDefault="qualified"
	xmlns:xs="http://www.w3.org/2001/XMLSchema"
	xmlns:rxp="http://xbrl.sec.gov/rxp/2024"
	xmlns:link="http://www.xbrl.org/2003/linkbase"
	xmlns:country="http://xbrl.sec.gov/country/2024"
	xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
	xmlns:snj="http://xbrl.sec.gov/snj/2024"
	xmlns:dtr="http://www.xbrl.org/dtr/type/2022-03-31"
	xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
	xmlns:xbrli="http://www.xbrl.org/2003/instance"
	xmlns:dei="http://xbrl.sec.gov/dei/2024"
	xmlns:ref="http://www.xbrl.org/2006/ref"
	xmlns:ag="http://ag/20241231"
xmlns:xlink="http://www.w3.org/1999/xlink">
	<!-- Created by Newsfile Form SD 2.01 conversion service -->
	<!-- newsfilecorp.com -->
	<xs:annotation>
		<xs:appinfo>
			<link:linkbase>
				<link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member"/>
				<link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all"/>
				<link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension"/>
				<link:arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain"/>
																						<link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/ProjectsOnly" xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#ProjectsOnly"/>
	<link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/ProjectsOnly">
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#rxp_AllProjectsMember" xlink:label="AllProjectsMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_CorporateMember" xlink:label="CorporateMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="CorporateMember" order="1"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_DelToroSilverMineMember" xlink:label="DelToroSilverMineMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="DelToroSilverMineMember" order="2"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_JerrittCanyonGoldMineMember" xlink:label="JerrittCanyonGoldMineMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="JerrittCanyonGoldMineMember" order="3"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_LaEncantadaSilverMineMember" xlink:label="LaEncantadaSilverMineMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="LaEncantadaSilverMineMember" order="4"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_LaLuzSilverProjectMember" xlink:label="LaLuzSilverProjectMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="LaLuzSilverProjectMember" order="5"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_LaParrillaSilverMineMember" xlink:label="LaParrillaSilverMineMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="LaParrillaSilverMineMember" order="6"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_SanDimasSilverAndGoldMineMember" xlink:label="SanDimasSilverAndGoldMineMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="SanDimasSilverAndGoldMineMember" order="7"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_SanMartinSilverMineMember" xlink:label="SanMartinSilverMineMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="SanMartinSilverMineMember" order="8"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_SantaElenaSilverAndGoldMineMember" xlink:label="SantaElenaSilverAndGoldMineMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllProjectsMember" xlink:to="SantaElenaSilverAndGoldMineMember" order="9"/>
	</link:definitionLink>
				<link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/SegmentsOnly" xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#SegmentsOnly"/>
	<link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/SegmentsOnly">
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#rxp_AllSegmentsMember" xlink:label="AllSegmentsMember"/>
	</link:definitionLink>
				<link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/EntitiesOnly" xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#EntitiesOnly"/>
	<link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/EntitiesOnly">
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityDomain" xlink:label="EntityDomain"/>
	</link:definitionLink>
							<link:roleRef roleURI="http://xbrl.sec.gov/rxp/role/GovernmentsOnly" xlink:type="simple" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#GovernmentsOnly"/>
	<link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/rxp/role/GovernmentsOnly">
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd#rxp_AllGovernmentsMember" xlink:label="AllGovernmentsMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_CantonOfZurichCantonalTaxOfficeZurichMember" xlink:label="CantonOfZurichCantonalTaxOfficeZurichMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="CantonOfZurichCantonalTaxOfficeZurichMember" order="1"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoEconomySecretaryMember" xlink:label="GovernmentOfMexicoEconomySecretaryMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoEconomySecretaryMember" order="2"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoEnergyRegulatoryCommissionMember" xlink:label="GovernmentOfMexicoEnergyRegulatoryCommissionMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoEnergyRegulatoryCommissionMember" order="3"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoNationalWaterCommissionMember" xlink:label="GovernmentOfMexicoNationalWaterCommissionMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoNationalWaterCommissionMember" order="4"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" xlink:label="GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" order="5"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" xlink:label="GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" order="6"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" xlink:label="GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" order="7"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfPublicSecurityMember" xlink:label="GovernmentOfMexicoSecretaryOfPublicSecurityMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoSecretaryOfPublicSecurityMember" order="8"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoTaxAdministrationServiceMember" xlink:label="GovernmentOfMexicoTaxAdministrationServiceMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoTaxAdministrationServiceMember" order="9"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoTreasuryOfFederationMember" xlink:label="GovernmentOfMexicoTreasuryOfFederationMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="GovernmentOfMexicoTreasuryOfFederationMember" order="10"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfBanamichiMember" xlink:label="MunicipalityOfBanamichiMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="MunicipalityOfBanamichiMember" order="11"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfChalchihuitesMember" xlink:label="MunicipalityOfChalchihuitesMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="MunicipalityOfChalchihuitesMember" order="12"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfOcampoMember" xlink:label="MunicipalityOfOcampoMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="MunicipalityOfOcampoMember" order="13"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfSanDimasMember" xlink:label="MunicipalityOfSanDimasMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="MunicipalityOfSanDimasMember" order="14"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_ElkoCountyElkoCountyRecordersOfficeMember" xlink:label="ElkoCountyElkoCountyRecordersOfficeMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="ElkoCountyElkoCountyRecordersOfficeMember" order="15"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_ElkoCountyElkoCountyTreasurerMember" xlink:label="ElkoCountyElkoCountyTreasurerMember"/>
		<link:definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="AllGovernmentsMember" xlink:to="ElkoCountyElkoCountyTreasurerMember" order="16"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" xlink:label="GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember"/>
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		<link:label xlink:type="resource" xlink:label="label_DelToroSilverMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Del Toro Silver Mine [Member]</link:label>
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		<link:label xlink:type="resource" xlink:label="label_JerrittCanyonGoldMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Jerritt Canyon Gold Mine [Member]</link:label>
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		<link:label xlink:type="resource" xlink:label="label_LaEncantadaSilverMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">La Encantada Silver Mine [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_LaEncantadaSilverMineMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">La Encantada Silver Mine</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaEncantadaSilverMineMember" xlink:to="label_LaEncantadaSilverMineMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_LaLuzSilverProjectMember" xlink:label="LaLuzSilverProjectMember"/>
		<link:label xlink:type="resource" xlink:label="label_LaLuzSilverProjectMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">La Luz Silver Project [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_LaLuzSilverProjectMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">La Luz Silver Project</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaLuzSilverProjectMember" xlink:to="label_LaLuzSilverProjectMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_LaParrillaSilverMineMember" xlink:label="LaParrillaSilverMineMember"/>
		<link:label xlink:type="resource" xlink:label="label_LaParrillaSilverMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">La Parrilla Silver Mine [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_LaParrillaSilverMineMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">La Parrilla Silver Mine</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LaParrillaSilverMineMember" xlink:to="label_LaParrillaSilverMineMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_SanDimasSilverAndGoldMineMember" xlink:label="SanDimasSilverAndGoldMineMember"/>
		<link:label xlink:type="resource" xlink:label="label_SanDimasSilverAndGoldMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">San Dimas Silver and Gold Mine [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_SanDimasSilverAndGoldMineMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">San Dimas Silver and Gold Mine</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanDimasSilverAndGoldMineMember" xlink:to="label_SanDimasSilverAndGoldMineMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_SanMartinSilverMineMember" xlink:label="SanMartinSilverMineMember"/>
		<link:label xlink:type="resource" xlink:label="label_SanMartinSilverMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">San Martin Silver mine [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_SanMartinSilverMineMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">San Martin Silver mine</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SanMartinSilverMineMember" xlink:to="label_SanMartinSilverMineMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_SantaElenaSilverAndGoldMineMember" xlink:label="SantaElenaSilverAndGoldMineMember"/>
		<link:label xlink:type="resource" xlink:label="label_SantaElenaSilverAndGoldMineMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Santa Elena Silver and Gold Mine [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_SantaElenaSilverAndGoldMineMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Santa Elena Silver and Gold Mine</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SantaElenaSilverAndGoldMineMember" xlink:to="label_SantaElenaSilverAndGoldMineMember"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2024/country-2024.xsd#country_CH" xlink:label="CH"/>
		<link:label xlink:type="resource" xlink:label="label_CH" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">SWITZERLAND</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CH" xlink:to="label_CH"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_CantonOfZurichCantonalTaxOfficeZurichMember" xlink:label="CantonOfZurichCantonalTaxOfficeZurichMember"/>
		<link:label xlink:type="resource" xlink:label="label_CantonOfZurichCantonalTaxOfficeZurichMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Canton of Zurich, Cantonal Tax Office Zurich [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_CantonOfZurichCantonalTaxOfficeZurichMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Canton of Zurich, Cantonal Tax Office Zurich</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CantonOfZurichCantonalTaxOfficeZurichMember" xlink:to="label_CantonOfZurichCantonalTaxOfficeZurichMember"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2024/country-2024.xsd#country_MX" xlink:label="MX"/>
		<link:label xlink:type="resource" xlink:label="label_MX" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">MEXICO</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MX" xlink:to="label_MX"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoEconomySecretaryMember" xlink:label="GovernmentOfMexicoEconomySecretaryMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoEconomySecretaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Economy Secretary [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoEconomySecretaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Economy Secretary</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoEconomySecretaryMember" xlink:to="label_GovernmentOfMexicoEconomySecretaryMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoEnergyRegulatoryCommissionMember" xlink:label="GovernmentOfMexicoEnergyRegulatoryCommissionMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoEnergyRegulatoryCommissionMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Energy Regulatory Commission [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoEnergyRegulatoryCommissionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Energy Regulatory Commission</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoEnergyRegulatoryCommissionMember" xlink:to="label_GovernmentOfMexicoEnergyRegulatoryCommissionMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoNationalWaterCommissionMember" xlink:label="GovernmentOfMexicoNationalWaterCommissionMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoNationalWaterCommissionMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, National Water Commission [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoNationalWaterCommissionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, National Water Commission</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoNationalWaterCommissionMember" xlink:to="label_GovernmentOfMexicoNationalWaterCommissionMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" xlink:label="GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Secretary of Communications and Transport [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Secretary of Communications and Transport</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" xlink:to="label_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" xlink:label="GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Secretary of Environment and Natural Resources [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Secretary of Environment and Natural Resources</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" xlink:to="label_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" xlink:label="GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Secretary of Finance and Administration [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Secretary of Finance and Administration</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" xlink:to="label_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoSecretaryOfPublicSecurityMember" xlink:label="GovernmentOfMexicoSecretaryOfPublicSecurityMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfPublicSecurityMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Secretary of Public Security [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoSecretaryOfPublicSecurityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Secretary of Public Security</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoSecretaryOfPublicSecurityMember" xlink:to="label_GovernmentOfMexicoSecretaryOfPublicSecurityMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoTaxAdministrationServiceMember" xlink:label="GovernmentOfMexicoTaxAdministrationServiceMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoTaxAdministrationServiceMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Tax Administration Service [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoTaxAdministrationServiceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Tax Administration Service</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoTaxAdministrationServiceMember" xlink:to="label_GovernmentOfMexicoTaxAdministrationServiceMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfMexicoTreasuryOfFederationMember" xlink:label="GovernmentOfMexicoTreasuryOfFederationMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoTreasuryOfFederationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of Mexico, Treasury of Federation [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfMexicoTreasuryOfFederationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of Mexico, Treasury of the Federation</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfMexicoTreasuryOfFederationMember" xlink:to="label_GovernmentOfMexicoTreasuryOfFederationMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfBanamichiMember" xlink:label="MunicipalityOfBanamichiMember"/>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfBanamichiMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Municipality of Banamichi [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfBanamichiMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Municipality of Banamichi</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MunicipalityOfBanamichiMember" xlink:to="label_MunicipalityOfBanamichiMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfChalchihuitesMember" xlink:label="MunicipalityOfChalchihuitesMember"/>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfChalchihuitesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Municipality of Chalchihuites [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfChalchihuitesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Municipality of Chalchihuites</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MunicipalityOfChalchihuitesMember" xlink:to="label_MunicipalityOfChalchihuitesMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfOcampoMember" xlink:label="MunicipalityOfOcampoMember"/>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfOcampoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Municipality of Ocampo [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfOcampoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Municipality of Ocampo</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MunicipalityOfOcampoMember" xlink:to="label_MunicipalityOfOcampoMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_MunicipalityOfSanDimasMember" xlink:label="MunicipalityOfSanDimasMember"/>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfSanDimasMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Municipality of San Dimas [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_MunicipalityOfSanDimasMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Municipality of San Dimas</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MunicipalityOfSanDimasMember" xlink:to="label_MunicipalityOfSanDimasMember"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/country/2024/country-2024.xsd#country_US" xlink:label="US"/>
		<link:label xlink:type="resource" xlink:label="label_US" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">UNITED STATES</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="US" xlink:to="label_US"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_ElkoCountyElkoCountyRecordersOfficeMember" xlink:label="ElkoCountyElkoCountyRecordersOfficeMember"/>
		<link:label xlink:type="resource" xlink:label="label_ElkoCountyElkoCountyRecordersOfficeMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Elko County, Elko County Recorders Office [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_ElkoCountyElkoCountyRecordersOfficeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Elko County, Elko County Recorders Office</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElkoCountyElkoCountyRecordersOfficeMember" xlink:to="label_ElkoCountyElkoCountyRecordersOfficeMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_ElkoCountyElkoCountyTreasurerMember" xlink:label="ElkoCountyElkoCountyTreasurerMember"/>
		<link:label xlink:type="resource" xlink:label="label_ElkoCountyElkoCountyTreasurerMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Elko County, Elko County Treasurer [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_ElkoCountyElkoCountyTreasurerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Elko County, Elko County Treasurer</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ElkoCountyElkoCountyTreasurerMember" xlink:to="label_ElkoCountyElkoCountyTreasurerMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" xlink:label="GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember"/>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Government of United States of America, Bureau of Land Management [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Government of the United States of America, Bureau of Land Management</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" xlink:to="label_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" xlink:label="StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember"/>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">State of Nevada, Nevada Department of Environmental Protection [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">State of Nevada, Nevada Department of Environmental Protection</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" xlink:to="label_StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" xlink:label="StateOfNevadaNevadaDepartmentOfMotorVehiclesMember"/>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">State of Nevada, Nevada Department of Motor Vehicles [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">State of Nevada, Nevada Department of Motor Vehicles</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" xlink:to="label_StateOfNevadaNevadaDepartmentOfMotorVehiclesMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_StateOfNevadaNevadaDepartmentOfWildlifeMember" xlink:label="StateOfNevadaNevadaDepartmentOfWildlifeMember"/>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDepartmentOfWildlifeMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">State of Nevada, Nevada Department of Wildlife [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDepartmentOfWildlifeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">State of Nevada, Nevada Department of Wildlife</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateOfNevadaNevadaDepartmentOfWildlifeMember" xlink:to="label_StateOfNevadaNevadaDepartmentOfWildlifeMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_StateOfNevadaNevadaDivisionOfTaxationMember" xlink:label="StateOfNevadaNevadaDivisionOfTaxationMember"/>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDivisionOfTaxationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">State of Nevada, Nevada Division of Taxation [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDivisionOfTaxationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">State of Nevada, Nevada Division of Taxation</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateOfNevadaNevadaDivisionOfTaxationMember" xlink:to="label_StateOfNevadaNevadaDivisionOfTaxationMember"/>
		<link:loc xlink:type="locator" xlink:href="ag-20241231.xsd#ag_StateOfNevadaNevadaDivisionOfWaterResourcesMember" xlink:label="StateOfNevadaNevadaDivisionOfWaterResourcesMember"/>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDivisionOfWaterResourcesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">State of Nevada, Nevada Division of Water Resources [Member]</link:label>
		<link:label xlink:type="resource" xlink:label="label_StateOfNevadaNevadaDivisionOfWaterResourcesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">State of Nevada, Nevada Division of Water Resources</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StateOfNevadaNevadaDivisionOfWaterResourcesMember" xlink:to="label_StateOfNevadaNevadaDivisionOfWaterResourcesMember"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_CH-ZH" xlink:label="CH-ZH"/>
		<link:label xlink:type="resource" xlink:label="label_CH-ZH" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ZÜRICH</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CH-ZH" xlink:to="label_CH-ZH"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_MX-COA" xlink:label="MX-COA"/>
		<link:label xlink:type="resource" xlink:label="label_MX-COA" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">COAHUILA DE ZARAGOZA</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MX-COA" xlink:to="label_MX-COA"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_MX-DUR" xlink:label="MX-DUR"/>
		<link:label xlink:type="resource" xlink:label="label_MX-DUR" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">DURANGO</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MX-DUR" xlink:to="label_MX-DUR"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_MX-SON" xlink:label="MX-SON"/>
		<link:label xlink:type="resource" xlink:label="label_MX-SON" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">SONORA</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MX-SON" xlink:to="label_MX-SON"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_MX-ZAC" xlink:label="MX-ZAC"/>
		<link:label xlink:type="resource" xlink:label="label_MX-ZAC" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">ZACATECAS</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="MX-ZAC" xlink:to="label_MX-ZAC"/>
		<link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/snj/2024/snj-2024.xsd#snj_US-NV" xlink:label="US-NV"/>
		<link:label xlink:type="resource" xlink:label="label_US-NV" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">NEVADA</link:label>
		<link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="US-NV" xlink:to="label_US-NV"/>
				</link:labelLink>
			</link:linkbase>
		</xs:appinfo>
	</xs:annotation>
	<xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
	<xs:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
	<xs:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
	<xs:import namespace="http://www.xbrl.org/dtr/type/2022-03-31" schemaLocation="https://www.xbrl.org/dtr/type/2022-03-31/types.xsd"/>
	<xs:import namespace="http://xbrl.sec.gov/dei/2024" schemaLocation="https://xbrl.sec.gov/dei/2024/dei-2024.xsd"/>
	<xs:import namespace="http://xbrl.sec.gov/country/2024" schemaLocation="https://xbrl.sec.gov/country/2024/country-2024.xsd"/>
	<xs:import namespace="http://xbrl.sec.gov/snj/2024" schemaLocation="https://xbrl.sec.gov/snj/2024/snj-2024.xsd"/>
	<xs:import namespace="http://xbrl.sec.gov/rxp/2024" schemaLocation="https://xbrl.sec.gov/rxp/2024/rxp-2024.xsd"/>
	<xs:element name="CantonOfZurichCantonalTaxOfficeZurichMember" id="ag_CantonOfZurichCantonalTaxOfficeZurichMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="CorporateMember" id="ag_CorporateMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="DelToroSilverMineMember" id="ag_DelToroSilverMineMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ElkoCountyElkoCountyRecordersOfficeMember" id="ag_ElkoCountyElkoCountyRecordersOfficeMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="ElkoCountyElkoCountyTreasurerMember" id="ag_ElkoCountyElkoCountyTreasurerMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoEconomySecretaryMember" id="ag_GovernmentOfMexicoEconomySecretaryMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoEnergyRegulatoryCommissionMember" id="ag_GovernmentOfMexicoEnergyRegulatoryCommissionMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoNationalWaterCommissionMember" id="ag_GovernmentOfMexicoNationalWaterCommissionMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" id="ag_GovernmentOfMexicoSecretaryOfCommunicationsAndTransportMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" id="ag_GovernmentOfMexicoSecretaryOfEnvironmentAndNaturalResourcesMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" id="ag_GovernmentOfMexicoSecretaryOfFinanceAndAdministrationMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoSecretaryOfPublicSecurityMember" id="ag_GovernmentOfMexicoSecretaryOfPublicSecurityMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoTaxAdministrationServiceMember" id="ag_GovernmentOfMexicoTaxAdministrationServiceMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfMexicoTreasuryOfFederationMember" id="ag_GovernmentOfMexicoTreasuryOfFederationMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" id="ag_GovernmentOfUnitedStatesOfAmericaBureauOfLandManagementMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="JerrittCanyonGoldMineMember" id="ag_JerrittCanyonGoldMineMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LaEncantadaSilverMineMember" id="ag_LaEncantadaSilverMineMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LaLuzSilverProjectMember" id="ag_LaLuzSilverProjectMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="LaParrillaSilverMineMember" id="ag_LaParrillaSilverMineMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MunicipalityOfBanamichiMember" id="ag_MunicipalityOfBanamichiMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MunicipalityOfChalchihuitesMember" id="ag_MunicipalityOfChalchihuitesMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MunicipalityOfOcampoMember" id="ag_MunicipalityOfOcampoMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="MunicipalityOfSanDimasMember" id="ag_MunicipalityOfSanDimasMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SanDimasSilverAndGoldMineMember" id="ag_SanDimasSilverAndGoldMineMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SanMartinSilverMineMember" id="ag_SanMartinSilverMineMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="SantaElenaSilverAndGoldMineMember" id="ag_SantaElenaSilverAndGoldMineMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" id="ag_StateOfNevadaNevadaDepartmentOfEnvironmentalProtectionMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" id="ag_StateOfNevadaNevadaDepartmentOfMotorVehiclesMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="StateOfNevadaNevadaDepartmentOfWildlifeMember" id="ag_StateOfNevadaNevadaDepartmentOfWildlifeMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="StateOfNevadaNevadaDivisionOfTaxationMember" id="ag_StateOfNevadaNevadaDivisionOfTaxationMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
	<xs:element name="StateOfNevadaNevadaDivisionOfWaterResourcesMember" id="ag_StateOfNevadaNevadaDivisionOfWaterResourcesMember" type="dtr:domainItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration"/>
</xs:schema>
</XBRL>

```