MAG Silver Reports First Quarter Production From Juanicipio

VANCOUVER, British Columbia, April 26, 2023 — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) reports production from the Juanicipio Project (56% / 44% Fresnillo plc (“Fresnillo”) and MAG, respectively) for the first quarter (“Q1”) ending March 31, 2023. March 2023 marked a significant achievement for Juanicipio as it produced and sold its first commercial lead and zinc concentrates. In addition to the initiation of feed to the Juanicipio mill, surplus mineralized material continues to be processed through the nearby Saucito and Fresnillo beneficiation plants (100% owned by Fresnillo) delivering incremental operating cash flows. Feed to the Juanicipio mill was predominantly from low grade stockpiles that were designated for commissioning.

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