Fresnillo Regulatory News (FRES)

Fresnillo plc

21 Upper Brook Street

London W1K 7PY

United Kingdom

www.fresnilloplc.com

09 January 2019

Fresnillo appoints André Sougarret Larroquete as COO

Fresnillo is pleased to confirm the appointment of Mr André Sougarret Larroquete as Chief Operating Officer. In his role, Mr Sougarret Larroquete will oversee the safe and efficient running of our existing mines. 

Mr Sougarret Larroquete (53) brings with him a significant track record in the mining sector. His most recent appointment was as Executive Vice President at the National Mining Company (ENAMI), an organisation responsible for the growth of the mining industry in Chile. Prior to joining ENAMI, Mr Sougarret Larroquete held several positions at the Teniente Division of Codelco implementing best practice methods across the entire division. In addition to his significant sector experience, Mr Sougarret Larroquete shares Fresnillo's cultural commitment to safety and providing its workers with safe working environments. Mr Sougarret Larroquete's previous roles also include General Manager of the Centinela and Esperanza mines at Antofagasta plc. He has a degree in Mining Engineering from the University of Chile and an MBA in Company Administration from Loyola College.

Mr Sougarret Larroquete joins Fresnillo following the retirement of Mr Roberto Díaz. Mr Díaz has had a remarkable career in the mining industry and with Fresnillo, starting his career with Fresnillo's parent company Peñoles in 1977. Following other roles around the world, he rejoined Peñoles in 2007. Before being appointed COO in 2013, he has served as Vice President of Operations. 

Octavio Alvídrez, CEO of Fresnillo said:

"I would like to welcome André to Fresnillo. He has an outstanding track record and we have no doubt he will provide strong operational leadership as we deliver on the significant potential of Fresnillo, both in terms of its existing portfolio, but also its extensive growth pipeline. On behalf of the Board, and the whole company, I would like to thank Roberto for the huge contribution he has made to Fresnillo. He will be greatly missed and we wish him every happiness in his retirement."

For further information, please visit our website www.fresnilloplc.com or contact:

About Fresnillo plc

Fresnillo plc is the world's largest primary silver producer and Mexico's largest gold producer, listed on the London and Mexican Stock Exchanges under the symbol FRES.

Fresnillo plc has seven operating mines, all of them in Mexico - Fresnillo, Saucito, Ciénega (including the San Ramón satellite mine), Herradura, Soledad-Dipolos1, Noche Buena and San Julián (phase I and II), one development project - the Pyrites Plant at Fresnillo, and four advanced exploration projects - Orisyvo, Juanicipio, Las Casas Rosario & Cluster Cebollitas and Centauro Deep, as well as a number of other long term exploration prospects. In total, Fresnillo plc has mining concessions covering approximately 1.8 million hectares in Mexico and 700 thousands hectares in Peru.

Fresnillo plc has a strong and long tradition of exploring, mining, a proven track record of mine development, reserve replacement, and production costs in the lowest quartile of the cost curve for silver.

Fresnillo plc's goal is to maintain the Group's position as the world's largest primary silver company, producing 65 million ounces of silver per year by 2018, having already surpassed the gold target of 750,000 ounces.

1 Operations at Soledad-Dipolos are currently suspended.

Forward Looking Statements

Information contained in this announcement may include 'forward-looking statements'. All statements other than statements of historical facts included herein, including, without limitation, those regarding the Fresnillo Group's intentions, beliefs or current expectations concerning, amongst other things, the Fresnillo Group's results of operations, financial position, liquidity, prospects, growth, strategies and the silver and gold industries are forward-looking statements. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of the Fresnillo Group's operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates, may differ materially from those described in, or suggested by, the forward-looking statements contained in this document. In addition, even if the results of operations, financial position and liquidity, and the development of the markets and the industry in which the Fresnillo Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations (including the US dollar and Mexican Peso exchanges rates), the Fresnillo Group's ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, changes in its business strategy and political and economic uncertainty.

LEI: 549300JXWH1UV5J0XV81