Exhibit 99.4

THE INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL SHOULD BE READ CAREFULLY BEFORE THIS DOCUMENT IS COMPLETED. THIS LETTER OF TRANSMITTAL IS FOR DEPOSITING YOUR SHARES IN CONNECTION WITH THE PROPOSED PLAN OF ARRANGEMENT INVOLVING SILVERCREST MINES INC. AND ITS SECURITYHOLDERS.

LETTER OF TRANSMITTAL

to accompany common shares of

SILVERCREST MINES INC.

pursuant to its proposed Plan of Arrangement

This letter of transmittal (the “Letter of Transmittal”) is for use by holders (the “SilverCrest Shareholders”) of common shares (the “SilverCrest Shares”) of SilverCrest Mines Inc. (“SilverCrest”) in connection with the proposed plan of arrangement (the “Arrangement”) involving SilverCrest, First Majestic Silver Corp. (“First Majestic”), SilverCrest Metals Inc. (formerly 1040669 B.C. Ltd.) (“New SilverCrest”) and the SilverCrest Shareholders, that is being submitted for approval at the special meeting of the SilverCrest Shareholders to be held on September 25, 2015, or any adjournment(s) or postponement(s) thereof (the ”SilverCrest Meeting”). SilverCrest Shareholders are referred to the notice of special meeting of the SilverCrest Shareholders and joint management information circular (the “Circular”) dated August 24, 2015 accompanying this Letter of Transmittal. The terms and conditions of the Arrangement are incorporated by reference in this Letter of Transmittal and capitalized terms used but not defined herein have the meaning set out in the Circular. You are encouraged to carefully review the Circular in its entirety.

This Letter of Transmittal, properly completed and duly executed, together with all other required documents, must accompany any certificate(s) or any statement(s) prepared by the Depositary pursuant to its direct registration system (the “DRS Advice Statements”) representing SilverCrest Shares which are deposited in connection with the Arrangement.

Completion of the Arrangement is subject to a number of conditions, some of which are beyond the control of SilverCrest and First Majestic. Accordingly, the exact timing of implementation (if any) of the Arrangement is not currently known. SilverCrest and First Majestic currently expect the Arrangement to become effective on or about October 1, 2015 (the “Effective Date”). In order for SilverCrest Shareholders to be eligible to receive (i) 0.2769 of a First Majestic Share and $0.0001 in cash from First Majestic (the “Consideration”), and (ii) 0.1667 of a common share of New SilverCrest (the “New SilverCrest Shares”) in respect of each of their SilverCrest Shares, SilverCrest Shareholders are required to deposit the certificate(s) or the DRS Advice Statement(s) representing such SilverCrest Shares with the Depositary along with a duly completed and executed copy of this Letter of Transmittal, together with all other required documents. As at the Effective Date, SilverCrest Shareholders will be entitled to receive, in respect of each SilverCrest Share deposited, the Consideration and the New SilverCrest Shares.

Eligible Holders (as such term is defined in Box G) may make a joint election under the Income Tax Act (Canada) with First Majestic in order to obtain a full or partial tax-deferred rollover for Canadian income tax purposes on the exchange of SilverCrest Shares for First Majestic Shares under the Arrangement. SilverCrest Shareholders should carefully review Box G of this Letter of Transmittal and the attached Circular and are urged to consult their financial, legal and other professional advisors to determine if they should make such election.

No fractional First Majestic Shares will be issued, nor any fractional cash consideration paid, to any SilverCrest Shareholder that would otherwise be entitled to receive a fractional number of First Majestic Shares or New SilverCrest Share or fractional cash consideration as consideration for their SilverCrest Shares. The number of First Majestic Shares and New SilverCrest Shares to be received by a SilverCrest Shareholder shall be rounded down to the nearest whole First Majestic Share and nearest whole New SilverCrest Share and no cash or other consideration will be paid to such SilverCrest Shareholder in lieu of the issuance of any fractional First Majestic Share or fractional New SilverCrest Share.

In any case where the aggregate cash consideration payable to a SilverCrest Shareholder under the Arrangement would (a) be less than one cent, then the aggregate cash consideration payable to such SilverCrest Shareholder will be rounded up to one cent; or (b) be at least one cent, but including a fraction of a cent, then the aggregate cash consideration payable to such SilverCrest Shareholder will be rounded down to the nearest whole cent.

The Depositary (see back page of this document for addresses and telephone numbers), your broker, lawyer or other professional advisor can assist you in completing this Letter of Transmittal. A SilverCrest Shareholder who wishes to deposit SilverCrest Shares pursuant to the Arrangement and whose SilverCrest Shares are registered in the name of a broker, investment dealer, commercial bank, lawyer, trust company, trustee, administrator or other nominee should immediately contact such nominee in order to take the necessary steps to be able to deposit their SilverCrest Shares pursuant to the Arrangement.

Delivery of this Letter of Transmittal to an address other than as set forth herein will not constitute a valid delivery to the Depositary. You must sign this Letter of Transmittal in the appropriate space provided below.

Please read the Circular and the instructions set forth below carefully before completing this Letter of Transmittal.

TO:	SILVERCREST MINES INC.

AND TO:	FIRST MAJESTIC SILVER CORP.

AND TO:	SILVERCREST METALS INC.

AND TO:	COMPUTERSHARE TRUST COMPANY OF CANADA (the “Depositary”) at its office set out herein

In connection with the Arrangement being considered for approval at the SilverCrest Meeting, the undersigned hereby surrenders to you the enclosed certificate(s) or DRS Advice Statement(s) representing SilverCrest Shares, the details of which are the following:

Certificate or DRS Advice Statement Number(s)	Name(s) in which Registered	Number of SilverCrest Shares Represented by Certificate or DRS Advice Statement	Number of SilverCrest Shares Deposited






		Total:

(Please print or type. If space is insufficient, please attach a separate signed list to this Letter of Transmittal in the above form.)

The undersigned hereby transmits herewith the certificate(s) or DRS Advice Statement(s) described above for cancellation on the Effective Date.

Upon receipt of this Letter of Transmittal duly completed and signed, the certificate(s) or DRS Advice Statement(s) representing the SilverCrest Shares deposited herewith and all other required documents, and following the Effective Date, the Depositary will send to the undersigned (i) certificate(s) or DRS Advice Statement(s) representing the First Majestic Shares, (ii) a cheque representing the cash consideration to which the undersigned is entitled under the Arrangement, and (iii) certificate(s) or DRS Advice Statement(s) representing the New SilverCrest Shares (or hold such certificates or DRS Advice Statements, as the case may be, and cheque for pick-up in accordance with the instructions set out below). Any certificate or DRS Advice Statement which immediately before the Effective Time represented SilverCrest Shares and which has not been surrendered, with all other documents required by the Depositary, on or before the third anniversary of the Effective Date, will cease to represent any claim or interest of any kind or nature against First Majestic, SilverCrest, New SilverCrest or the Depositary.

The undersigned acknowledges receipt of the Circular and represents and warrants that: (i) the undersigned is (are) the sole owner(s) of the deposited SilverCrest Shares and all rights and benefits arising from the SilverCrest Shares and has(ve) full power and authority to execute this Letter of Transmittal and deposit the SilverCrest Shares; (ii) the deposited SilverCrest Shares have not been sold, assigned or transferred, nor has any agreement been entered into to sell, assign or transfer any of the SilverCrest Shares to any person; (iii) the deposit of the deposited SilverCrest Shares complies with applicable laws; (iv) the deposited SilverCrest Shares are free and clear of any liens, restrictions, charges, encumbrances, claims and rights of others; (v) unless the undersigned has revoked this Letter of Transmittal by notice in writing delivered to the Depositary by no later than 5:00 p.m. (Vancouver time) on the second Business Day preceding the date of the SilverCrest Meeting, the signatory will not, before that time, transfer or permit to be transferred any of the SilverCrest Shares being deposited; (vi) all information inserted by the undersigned into this Letter of Transmittal is complete, true and accurate; and (vii) the delivery of the applicable Consideration and the New SilverCrest Shares will discharge any and all obligations of SilverCrest, First Majestic, New SilverCrest and the Depositary with respect to the matters contemplated by this Letter of Transmittal. These representations and warranties will survive the completion of the Arrangement.

Except with respect to any proxy deposited in connection with the SilverCrest Meeting, the undersigned hereby revokes any and all other authority, whether as agent, attorney-in-fact, attorney, proxy or otherwise, previously conferred or agreed to be conferred by the undersigned at any time with respect to the SilverCrest Shares being deposited, other than as granted in this Letter of Transmittal. The undersigned agrees that no subsequent authority, whether as agent, attorney-in-fact, attorney, proxy or otherwise will be granted with respect to the deposited SilverCrest Shares.

The undersigned covenants under the terms of this Letter of Transmittal to execute, upon request of SilverCrest, New SilverCrest or First Majestic, any additional documents, transfers and other assurances as may be necessary or desirable to duly complete the deposit of the deposited SilverCrest Shares and the transfer of the SilverCrest Shares issued in respect thereof and acknowledges that all authority herein conferred or agreed to be conferred is, to the greatest extent permitted by Law, irrevocable and may be exercised during any subsequent legal incapacity of the undersigned and will, to the greatest extent permitted by law, survive the death or incapacity, bankruptcy or insolvency of the undersigned and all obligations of the undersigned therein will be binding upon the heirs, executors, administrators, attorneys, personal representatives, successors and assigns of the undersigned.

The Depositary will act as the agent of the undersigned for the purposes of transmitting the aggregate Consideration and receipt thereof by the Depositary will be deemed to constitute receipt by persons depositing SilverCrest Shares in connection with the Arrangement. Settlement with each holder of deposited SilverCrest Shares will be made by the Depositary by forwarding (i) certificate(s) or DRS Advice Statement(s) for First Majestic Shares, (ii) a cheque representing the cash consideration to which such holder of deposited SilverCrest Shares is entitled, and (iii) certificate(s) or DRS Advice Statement(s) for New SilverCrest Shares.

Subject to the foregoing and unless otherwise directed in this Letter of Transmittal, the applicable DRS Advice Statements and/or certificates and the cheque will be issued in the name of the registered holder of the deposited SilverCrest Shares covered by this Letter of Transmittal. Unless the depositing SilverCrest Shareholder instructs the Depositary to hold the applicable DRS Advice Statements and/or certificates, as the case may be, and the cheque for pick-up by so indicating in the appropriate box of this Letter of Transmittal, the applicable DRS Advice Statements and/or certificates, as the case may be, and the cheque will be forwarded by first class insured mail to such person at the address specified in this Letter of Transmittal. If no such address is specified, the applicable DRS Advice Statements and/or certificates, as the case may be, and the cheque will be sent to the address of the depositing Shareholder as shown on the share register maintained by SilverCrest or its registrar and transfer agent. DRS Advice Statements and/or certificates and cheques mailed in accordance with this paragraph will be deemed to be delivered at the time of mailing. First Majestic, SilverCrest, New SilverCrest and the Depositary reserve the right to withhold amounts in respect of withholding taxes, where required by applicable law.

It is understood that the undersigned will not receive payment in respect of the deposited SilverCrest Shares until after the Arrangement is consummated and until the certificate(s) or DRS Advice Statement(s) representing the SilverCrest Shares owned by the undersigned are received by the Depositary at the address below, together with such additional documents as the Depositary, First Majestic or New SilverCrest may require, and until the same are processed for payment by the Depositary. If the Arrangement is not completed for any reason, the enclosed share certificate(s) or DRS Advice Statement(s) and all other ancillary documents will be returned forthwith to the undersigned by first-class mail in the name of and to the address specified by the undersigned in Box B of this Letter of Transmittal or, if such name or address is not so specified, in such name and to such address as shown on the share register maintained by SilverCrest or its registrar and transfer agent.

The undersigned acknowledges that there is no duty or obligation on First Majestic, SilverCrest, New SilverCrest, the Depositary or any other person to give notice of any defect or irregularity in any deposit and no liability will be incurred by any of them for failure to give such notice.

By reason of the use by the undersigned of an English language form of Letter of Transmittal, the undersigned is deemed to have required that any contract evidenced by the Arrangement as entered into through this Letter of Transmittal, as well as any documents related thereto, be drawn exclusively in the English language. En raison de l'utilisation d'une version anglaise de la présente lettre d'envoi, le soussigné est réputé avoir demandé que tout contrat attesté par l'arrangement, telle qu'il est accepté au moyen de cette lettre d'envoi, de même que tous les documents qui s'y rapportent, soient rédigés exclusivement en anglais.

SHAREHOLDER INFORMATION AND INSTRUCTIONS

Before signing this Letter of Transmittal, please review carefully the instructions provided at the back of this Letter of Transmittal and complete the following boxes, as appropriate.

BOX A
REGISTRATION INSTRUCTIONS

ISSUE FIRST MAJESTIC CERTIFICATE(S)/DRS ADVICE STATEMENT(S), CHEQUE AND NEW SILVERCREST CERTIFICATE(S)/DRS ADVICE STATEMENT(S)
IN THE NAME OF:
(please print or type)

______________________________________

(Name)

______________________________________

(Street Address and Number)

______________________________________

(City and Province or State)

______________________________________

(Country and Postal (or Zip) Code)

______________________________________

(Telephone - Business Hours)

______________________________________

(Tax Identification, Social Insurance or Social Security Number)

BOX B
DELIVERY INSTRUCTIONS

SEND FIRST MAJESTIC CERTIFICATE(S)/DRS ADVICE STATEMENT(S), CHEQUE AND NEW SILVERCREST CERTIFICATE(S)/DRS ADVICE STATEMENT(S)
(Unless Box “C” is checked) TO:
(please print or type)

o Same as address in Box A or to:

______________________________________

(Name)

______________________________________

(Street Address and Number)

______________________________________

(City and Province or State)

______________________________________

(Country and Postal (or Zip) Code)

______________________________________

(Telephone - Business Hours)

______________________________________

(Tax Identification, Social Insurance or Social Security Number)

BOX C
SPECIAL PICK-UP INSTRUCTIONS

o HOLD FIRST MAJESTIC CERTIFICATE(S)/DRS ADVICE STATEMENT(S), CHEQUE AND NEW SILVERCREST CERTIFICATE(S)/DRS ADVICE STATEMENT(S) FOR PICK-UP AT THE OFFICE OF THE DEPOSITARY.
(Check box)

BOX D
TO BE COMPLETED BY ALL SHAREHOLDERS BY SELECTING ONE
BOX BELOW

Indicate whether you are a U.S. Shareholder or are acting on behalf of a U.S. Shareholder.

o The undersigned Shareholder represents that it is not a U.S. Shareholder and is not acting on behalf of a U.S. Shareholder.

o The undersigned Shareholder is a U.S. Shareholder or is acting on behalf of a U.S. Shareholder.

A U.S. Shareholder is any Shareholder that is either (A) providing an address in Box “A” or “B” that is located within the United States or any territory or possession thereof, or (B) a U.S. person for United States federal income tax purposes.

If you are a U.S. Shareholder or are acting on behalf of a U.S. Shareholder, then in order to avoid backup withholding you must complete the Substitute Form W-9 included below or otherwise provide certification that you are exempt from backup withholding, as provided in the instructions. If you require a Form W-8, please contact the Depositary.

BOX E – SIGNATURE GUARANTEE

Signature guaranteed by
(if required under Instruction 3):

________________________________________________

Authorized Signature

________________________________________________

Name of Guarantor (please print or type)

________________________________________________

Address (please print or type)

________________________________________________

Area Code and Telephone Number

BOX F – SIGNATURE

Dated:__________________________________________

________________________________________________

Signature of Shareholder or Authorized Representative –
See Instructions 2, 3 and 4

________________________________________________

Name of Shareholder (please print or type)

________________________________________________

Name of Authorized Representative, if applicable
(please print or type)

________________________________________________

Address (please print or type)

________________________________________________

Area Code and Telephone Number

________________________________________________

(E-mail Address)

BOX G

SECTION 85 TAX DEFERRAL ELECTION

(FOR ELIGIBLE CANADIAN SHAREHOLDERS ONLY. SEE INSTRUCTION 9)

As described under the heading “Canadian Federal Income Tax Considerations” in the Circular, an Eligible Holder is entitled to require First Majestic to execute one or more election forms for the purpose of achieving a tax-deferred exchange for Canadian federal (and where applicable, provincial) income tax purposes on the value of the First Majestic Shares received. An “Eligible Holder” means a Shareholder who is (a) a person that is resident in Canada for purposes of the Income Tax Act (Canada) (the “Tax Act”) and is not exempt from tax under Part I of the Tax Act, or (b) a partnership that is a “Canadian partnership” for the purposes of the Tax Act, none of the partners of which is exempt from tax under Part I of the Tax Act.

A tax information package containing the tax election forms with detailed instructions on how to make the tax election or elections (the “Joint Tax Election Package”) will be separately distributed to each Eligible Holder that checks the box below and returns this Letter of Transmittal to the Depositary within 90 days of the Effective Date.

o PLEASE CHECK THIS BOX IF YOU WANT THE JOINT TAX ELECTION PACKAGE TO BE PROVIDED TO YOU BY FIRST MAJESTIC. (Note: The Joint Tax Election Package may also be obtained on First Majestic’s website at www.firstmajestic.com on or around the Effective Date.)

BOX H

CERTIFICATION OF AWAITING TAXPAYER IDENTIFICATION NUMBER

(FOR U.S. SHAREHOLDERS ONLY. SEE INSTRUCTION 10)

NOTE: FAILURE TO FURNISH YOUR CORRECT TIN OR EIN MAY RESULT IN A PENALTY IMPOSED BY THE INTERNAL REVENUE SERVICE AND IN BACKUP WITHHOLDING OF 28% OF THE GROSS AMOUNT OF CASH AND NEW SILVERCREST SHARES PAID TO YOU PURSUANT TO THE ARRANGEMENT.

YOU MUST COMPLETE THE FOLLOWING CERTIFICATE IF YOU WROTE “APPLIED FOR” IN PART I OF THE ATTACHED FORM W-9.

I certify under penalties of perjury that a taxpayer identification number has not been issued to me, and either (a) I have mailed or delivered an application to receive a taxpayer identification number to the appropriate IRS Center or Social Security Administration Officer or (b) I intend to mail or deliver an application in the near future. I understand that if I do not provide a TIN by the time of payment, 28% of the gross proceeds of such payment made to be may be withheld.

Signature of U.S. Person:___________________________________________

Date:________________________

FOR U.S. SHAREHOLDERS ONLY

INSTRUCTIONS

Use of Letter of Transmittal

(a) It is recommended that this Letter of Transmittal (or manually signed facsimile thereof), properly completed and duly executed, covering the SilverCrest Shares deposited in connection with the Arrangement, in either case with the signature(s) guaranteed if required in Instruction 3 below, together with accompanying certificate(s) or DRS Advice Statement(s) representing the deposited SilverCrest Shares and all other documents required by the terms of the Arrangement and this Letter of Transmittal, be received by the Depositary at the office specified on the back cover page at or before 5 p.m. (Vancouver time) on September 23, 2015.

(b) The method used to deliver this Letter of Transmittal and any accompanying certificate(s) or DRS Advice Statement(s) representing SilverCrest Shares is at the option and risk of the depositing Shareholder. If certificates or DRS Advice Statements for SilverCrest Shares are to be sent by mail, then registered mail with return receipt requested, properly insured, is recommended, and it is suggested that the mailing be made sufficiently in advance of the required date to permit delivery to the Depositary at or before such time. Delivery will only be effective upon actual receipt of certificate(s) or DRS Advice Statement(s) for such SilverCrest Shares by the Depositary.

(c) Shareholders whose SilverCrest Shares are registered in the name of a nominee such as a broker, investment dealer, bank, trust company, trustee, administrator or other nominee should immediately contact such nominee in order to take the necessary steps to be able to deposit such SilverCrest Shares.

Signatures

No signature guarantee is required on this Letter of Transmittal if:

(a)

this Letter of Transmittal is signed by the registered owner(s) of the SilverCrest Shares exactly as the name of the registered holder appears on the SilverCrest Share certificates or DRS Advice Statements deposited herewith, and DRS Advice Statements issuable pursuant to the Arrangement are to be delivered directly to that registered holder, or

(b)

SilverCrest Shares are deposited for the account of an Eligible Institution (as defined below).

In all other cases, all signatures on this Letter of Transmittal must be guaranteed by an Eligible Institution. If a certificate or DRS Advice Statement representing SilverCrest Shares is registered in the name of a person other than the signatory of this Letter of Transmittal or if a DRS Advice Statement issuable is to be delivered to a person other than such registered owner, the certificate or DRS Advice Statement representing SilverCrest Shares must be endorsed or accompanied by an appropriate power of attorney duly and properly completed by the registered owner(s), in either case, signed exactly as the name of the registered owner(s) appears on such certificate or DRS Advice Statement with the signature on such certificate or power of attorney guaranteed by an Eligible Institution.

If a certificate or DRS Advice Statement representing SilverCrest Shares is registered in the name of two or more persons, all of them must sign this Letter of Transmittal.

An “Eligible Institution” means a Canadian Schedule I chartered bank, a member of the Securities Transfer Agents Medallion Program (STAMP), a member of the Stock Exchange Medallion Program (SEMP), or a member of the New York Stock Exchange, Inc. Medallion Signature Program (MSP). Members of these programs are usually members of a recognized stock exchange in Canada or the United States, members of the Investment Industry Regulatory Organization of Canada, members of the Financial Industry Regulatory Authority or banks or trust companies in the United States.

Guarantee of Signatures

If this Letter of Transmittal is signed by a person other than the registered owner(s) of the deposited SilverCrest Shares, or if the deposited SilverCrest Shares not acquired are to be returned to a person other than the registered owner(s) or sent to an address other than the address of the registered owner(s) as shown on the share register maintained by SilverCrest or its registrar and transfer agent or if the certificate or DRS Advice Statement for the First Majestic Shares, the DRS Advice Statement or certificate for the New SilverCrest Shares, and the cheque for the cash consideration are to be issued in the name of a person other than the registered owner(s) of the deposited SilverCrest Shares, such signature must be guaranteed by an Eligible Institution (except that no guarantee is required if the signature is that of an Eligible Institution).

Fiduciaries, Representatives and Authorizations

Where this Letter of Transmittal is executed by a person acting as an executor, administrator, trustee or guardian, or on behalf of a corporation, partnership or association or is executed by any other person acting in a representative capacity (in each case, an “Authorized Representative”), such person should so indicate when signing and this Letter of Transmittal should be accompanied by satisfactory evidence of the authority to act. First Majestic, New SilverCrest or the Depositary, in its sole discretion, may require additional evidence of authority or additional documentation.

Delivery Instructions

If any DRS Advice Statements or certificates and the cheque is to be sent to someone at an address other than the address of the Shareholder as it appears in Box A on this Letter of Transmittal, entitled “Registration Instructions”, then Box B on this Letter of Transmittal, entitled “Delivery Instructions”, should be completed. If Box B is not completed, any DRS Advice Statements or certificates and the cheque issued in exchange for SilverCrest Shares will be mailed to the depositing SilverCrest Shareholder at the address of the SilverCrest Shareholder as it appears in Box A or, if no address of the SilverCrest Shareholder is provided in Box A, then it will be mailed to the address of the SilverCrest Shareholder as it appears on the share register maintained by SilverCrest or its registrar and transfer agent. Any DRS Advice Statements or certificates and cheque mailed in accordance with this Letter of Transmittal will be deemed to be delivered at the time of mailing.

Miscellaneous

(a) If the space on this Letter of Transmittal is insufficient to list all certificates or DRS Advice Statements for SilverCrest Shares, additional certificates or DRS Advice Statements may be listed on a separate signed list attached to this Letter of Transmittal.

(b) If SilverCrest Shares are registered in different forms (e.g., “John Doe” and “J. Doe”), a separate Letter of Transmittal should be signed for each different registration.

(c) The Arrangement will be effected under the Business Corporations Act (British Columbia) and construed in accordance with and governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein. Each party to any agreement resulting from or in connection with the Arrangement unconditionally and irrevocably attorns to the exclusive jurisdiction of the courts of the Province of British Columbia.

(d) Before completing this Letter of Transmittal, depositing SilverCrest Shareholders are strongly urged to read the accompanying Circular in its entirety.

(e) All questions as to the validity, form, eligibility (including timely receipt) and acceptance of SilverCrest Shares deposited pursuant to the Arrangement will be determined by First Majestic in its sole discretion. Depositing Shareholders agree that such determination will be final and binding. Each of First Majestic and New SilverCrest reserves the absolute right to reject any and all deposits which it determines not to be in proper form or which may be unlawful to accept under the laws of any jurisdiction. Each of First Majestic and New SilverCrest reserves the absolute right to waive any defects or irregularities in the deposit of any SilverCrest Shares. There is no duty or obligation of First Majestic, New SilverCrest, the Depositary, or any other person to give notice of any defect or irregularity in any deposit and no liability will be incurred by any of them for failure to give any such notice. First Majestic's interpretation of the terms and conditions of the Arrangement, Circular and this Letter of Transmittal will be final and binding.

(f) Additional copies of the Circular and this Letter of Transmittal may be obtained from the Depositary at the address listed below.

(g) All payments will be made in Canadian dollars.

Lost Certificates

If a share certificate has been lost, destroyed or stolen, the registered holder of that certificate should immediately contact the Depositary (see back cover page for address and telephone numbers). The holder will be required to complete and submit certain documentation, including a bond and/or indemnity, before the holder can receive any compensation for their SilverCrest Shares. This Letter of Transmittal should be completed as fully as possible and forwarded, together with a letter describing the loss, destruction or theft, to the Depositary.

Assistance

THE DEPOSITARY (SEE BACK COVER PAGE FOR ADDRESSES AND TELEPHONE NUMBERS) OR THE DEPOSITING SILVERCREST SHAREHOLDER'S BROKER, INVESTMENT DEALER, COMMERCIAL BANK, TRUST COMPANY MANAGER, BANK MANAGER, LAWYER OR OTHER PROFESSIONAL ADVISOR WILL BE ABLE TO ASSIST THE SILVERCREST SHAREHOLDER IN COMPLETING THIS LETTER OF TRANSMITTAL.

Joint Election under the Income Tax Act (Canada)

Eligible Holders (as defined below) may make a joint election under the Income Tax Act (Canada) (the “Tax Act”) with First Majestic in order to obtain a full or partial tax-deferred rollover for Canadian income tax purposes on the exchange of SilverCrest Shares for First Majestic Shares under the Arrangement. An “Eligible Holder” means a Shareholder who is (a) a person that is resident in Canada for purposes of the Tax Act and is not exempt from tax under Part I of the Tax Act, or (b) a partnership that is a “Canadian partnership” for the purposes of the Tax Act, none of the partners of which is exempt from tax under Part I of the Tax Act. SilverCrest Shareholders should carefully review Box G of this Letter of Transmittal and the attached Circular and are urged to consult their financial, legal and other professional advisors to determine if they should make such election.

10.

U.S. Shareholders and Substitute Form W-9

In order to avoid “backup withholding” of United States income tax on payments made on the SilverCrest Shares, a registered U.S. Shareholder must generally provide the person's correct taxpayer identification number (“TIN”) or Employer Identification Number (“EIN”) on Substitute Form W-9 and certify, under penalties of perjury, that such number is correct and that such registered Shareholder is not subject to backup withholding. If the correct TIN or EIN is not provided or if any other information is not correctly provided, a penalty of up to US$50 may be imposed on the registered U.S. Shareholder by the Internal Revenue Service (the “IRS”) and payments made with respect to the SilverCrest Shares may be subject to backup withholding of 28%.

Backup withholding is not an additional United States income tax. Rather, the United States income tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. If backup withholding results in an overpayment of taxes, a refund may be obtained provided that the required information is furnished to the IRS.

Certain persons (including, among others, corporations, certain “not-for-profit” organizations, and certain non-U.S. persons) are not subject to backup withholding. A registered U.S. Shareholder should consult his or her tax advisor as to the Shareholder's qualification for an exemption from backup withholding and the procedure for obtaining such exemption.

The TIN or EIN for an individual United States citizen or resident is the individual's social security number. The “Awaiting TIN” box of the substitute Form W-9 may be checked if a registered U.S. Shareholder has not been issued a TIN or EIN and has applied for a TIN or EIN or intends to apply for a TIN or EIN in the near future. If the “Awaiting TIN” box is checked, the registered U.S. Shareholder must also complete the Certificate of Awaiting Taxpayer Identification Number found below the Substitute Form W-9 in order to avoid backup withholding. If a registered U.S. Shareholder completes the Certificate of Awaiting Taxpayer Identification Number but does not provide a TIN or EIN within 60 days, such registered U.S. Shareholder will be subject to backup withholding at a rate of 28% until a TIN or EIN is provided.

The Depositary for the Arrangement is:

COMPUTERSHARE TRUST COMPANY OF CANADA

By Registered Mail, Hand or by Courier

100 University Avenue

9th Floor

Toronto, ON

M5J 2Y1

Attention: Corporate Actions

Toll Free: 1-800-564-6253

E-mail: corporateactions@computershare.com

Any questions or requests for assistance or additional copies of the Circular or this Letter of Transmittal may be directed by Shareholders to the Depositary at the telephone number and location set out above. A Shareholder may also contact their broker, investment dealer, commercial bank, trust company manager, bank manager, lawyer or other professional advisor for assistance concerning the completion of this Letter of Transmittal.

SILVERCREST MINES INC 6-K