Searchlight Innovations Inc T.SLX

Sale approval

[Hourglass11]

Silvermex Securityholders Approve Plan of Arrangement with First Majestic

Vancouver, BC, Canada -- June 26, 2012 -- First Majestic Silver Corp. ("First Majestic") (TSX: FR) and Silvermex Resources Inc. ("Silvermex") (TSX: SLX) are pleased to announce the positive results from the Silvermex annual general and special meeting held today in Vancouver, Canada. Silvermex shareholders, warrantholders and optionholders (together, the "Securityholders") overwhelmingly voted in favour of the previously announced plan of arrangement (the "Arrangement") whereby First Majestic will acquire all of the issued and outstanding common shares of Silvermex.

Following the unanimous recommendation by the Silvermex Board of Directors, the transaction was approved by over 99% of the votes cast by Securityholders at the meeting. The Final Court Order approving the Arrangement will be sought on June 28, 2012. The effective date of the arrangement is expected to be on July 3, 2012.

Duane Nelson, CEO and Director of Silvermex said, "I am extremely pleased with the overwhelmingly positive response to the Arrangement by our shareholders which further reinforces our view that the acquisition by First Majestic is in the best interest of our shareholders. By joining together with First Majestic, our shareholders will gain exposure to First Majestic's pipeline of assets."

Keith Neumeyer, President and CEO of First Majestic said, "We are very pleased to welcome the Silvermex shareholders into the First Majestic family and look forward to the full integration of the La Guitarra Silver Mine into the First Majestic portfolio of producing assets. This acquisition further advances our goal of becoming the next senior silver producer and further retains our industry status as the purest silver producer in the world."

This transaction is expected to substantially benefit Silvermex shareholders by not only diversifying Silvermex's single asset risk profile into First Majestic's portfolio of Mexican assets, but also bringing the necessary capital and operational expertise required to potentially accelerate exploration activities and production growth at the La Guitarra Mine.

ABOUT SILVERMEX
Silvermex Resources Inc. is a publicly traded mining company focused in Mexico and led by a highly qualified team of professionals from some of the most notable companies in the silver mining sector. The Company's portfolio of projects ranges from early stage exploration to production. Its core asset is the producing La Guitarra silver-gold mine located in the Temascaltepec Mining District of Mexico.

ABOUT FIRST MAJESTIC
First Majestic is a producing silver company focused on silver production in México and is aggressively pursuing its business plan of becoming a senior silver producer through the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to First Majestic achieving its aggressive corporate growth objectives.

FOR FURTHER INFORMATION contact [e-mail], visit our website at www.firstmajestic.com or contact Todd Anthony, Investor Relations at 1-866-529-2807.

ON BEHALF OF THE BOARD OF FIRST MAJESTIC SILVER CORP.

"Keith Neumeyer"

Keith Neumeyer
President & CEO

ON BEHALF OF THE BOARD OF SILVERMEX RESOURCES INC.

"Duane Nelson"

Duane Nelson
CEO & Director