VANCOUVER, British Columbia, Dec. 28, 2022 — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, or the
“Company”) reports that it has received confirmation from Fresnillo Plc (“Fresnillo”), the operator of the Juanicipio Project (the
“Project” or “Juanicipio”), that final testing of the downstream power distribution and control systems at the Project is now
complete. The entire system has now been energized and Juanicipio has been connected to the national power grid.