MAG Silver Reports Fourth Quarter Production From Juanicipio

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VANCOUVER, British Columbia, Jan. 25, 2023 (GLOBE NEWSWIRE) — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) reviews manufacturing from the Juanicipio Undertaking (56% / 44% Fresnillo plc (“Fresnillo”) and MAG, respectively) for the fourth quarter (“This fall”) ending December 31, 2022 and full yr 2022. As reported to MAG by the challenge operator Fresnillo, 165,786 tonnes of mineralized materials from each underground growth and preliminary stopes have been processed throughout the three months ended December 31, 2022 at a median silver head grade of 415 grams per tonne (“g/t”). For the yr ended December 31, 2022, a complete of 646,148 tonnes of mineralized materials have been processed at a median silver head grade of 520 g/t.

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Whole Juanicipio manufacturing for This fall and 2022, based mostly on provisional estimates earlier than offtake settlement changes, totaled 1,861 koz of silver and 5,380 gold ounces, and 9,250 koz of silver and 22,253 gold ounces, respectively. The related lead and zinc manufacturing will likely be reported with MAG Silver’s yr finish filings.

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The Juanicipio beneficiation plant, which was lately energized with the connection to the nationwide energy grid, has commenced commissioning and full-scale ramp up of milling actions. The operation stays on observe to succeed in nameplate manufacturing mid-to-late 2023. Throughout this ramp-up interval, extra mineralized materials from Juanicipio continues to be processed by means of the close by Saucito and Fresnillo beneficiation vegetation (100% owned by Fresnillo).

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“We’re excited to start the brand new yr marching in the direction of ramp-up to nameplate throughput of 4,000 tonnes per day after totally connecting to the nationwide energy grid in December,” stated George Paspalas, MAG Silver’s President and CEO. “The chance to run high-grade materials by means of our world class processing facility will set the stage for MAG changing into a high tier silver producer, targeted on money move era and return on capital invested.”

Certified Individuals: Dr. Peter Megaw, Ph.D., C.P.G., has acted because the Certified Individual as outlined in Nationwide Instrument 43-101 for this disclosure and supervised the preparation of the technical info on this launch. Dr. Megaw has a Ph.D. in geology and greater than 38 years of related expertise targeted on ore deposit exploration worldwide. He’s a Licensed Skilled Geologist (CPG 10227) by the American Institute of Skilled Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is just not unbiased as he’s Chief Exploration Officer and a Shareholder of MAG.

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About MAG Silver Corp. (www.magsilver.com)

MAG Silver Corp. is a growth-oriented Canadian growth and exploration firm targeted on changing into a top-tier major silver mining firm by exploring and advancing high-grade, district scale, valuable metals initiatives within the Americas. Its principal focus and asset is the Juanicipio Undertaking (44%), being developed with Fresnillo Plc (56%), the operator. The challenge is situated within the Fresnillo Silver Pattern in Mexico, the world’s premier silver mining camp, the place the operator is at the moment advancing underground mine growth and commissioning a 4,000 tonnes per day processing plant. Underground mine manufacturing of mineralized growth materials commenced in Q3 2020, and an expanded exploration program is in place concentrating on a number of extremely potential targets at Juanicipio. MAG can also be executing multi-phase exploration packages on the Deer Path 100% earn-in Undertaking in Utah and the lately acquired Larder Undertaking, situated within the traditionally prolific Abitibi area of Canada.

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Neither the Toronto Inventory Trade nor the NYSE American has reviewed or accepted accountability for the accuracy or adequacy of this press launch, which has been ready by administration.

This launch consists of sure statements which may be deemed to be “forward-looking statements” throughout the which means of the US Non-public Securities Litigation Reform Act of 1995. All statements on this launch, apart from statements of historic details are ahead wanting statements, together with statements that handle our expectations with respect to the timing and success of commissioning actions and the full-scale ramp up of milling actions, provisional estimates regarding manufacturing at Juanicipio for This fall and 2022, processing charges of growth supplies, future mineral manufacturing, and occasions or developments. Ahead-looking statements are sometimes, however not all the time, recognized by means of phrases comparable to “search”, “anticipate”, “plan”, “proceed”, “estimate”, “count on”, “could”, “will”, “challenge”, “predict”, “potential”, “concentrating on”, “intend”, “may”, “may”, “ought to”, “consider” and related expressions. These statements contain recognized and unknown dangers, uncertainties and different components that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. Though MAG believes the expectations expressed in such forward-looking statements are based mostly on affordable assumptions, such statements should not ensures of future efficiency and precise outcomes or developments could differ materially from these within the forward-looking statements. Components that might trigger precise outcomes to vary materially from these in forward-looking statements embrace, however should not restricted to, impacts (each direct and oblique) of COVID-19, timing of receipt of required permits, adjustments in relevant legal guidelines, adjustments in commodities costs, adjustments in mineral manufacturing efficiency, exploitation and exploration successes, continued availability of capital and financing, and normal financial, market or enterprise situations, political threat, forex threat and capital price inflation. As well as, forward-looking statements are topic to numerous dangers, together with that knowledge is incomplete and appreciable extra work will likely be required to finish additional analysis, together with however not restricted to drilling, engineering and socio-economic research and funding. The reader is referred to the MAG Silver’s filings with the SEC and Canadian securities regulators for disclosure relating to these and different threat components. There is no such thing as a certainty that any forward-looking assertion will come to move, and buyers mustn’t place undue reliance upon forward-looking statements.

Please Be aware: Traders are urged to think about carefully the disclosures in MAG’s annual and quarterly reviews and different public filings, accessible by means of the Web at www.sedar.com and www.sec.gov.

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