Mr. Michael Curlook reports

MAG REPORTS AGSM RESULTS

At the company's annual general and special meeting (AGSM) held on June 26, 2023, Mag Silver Corp. shareholders approved by majority: to elect all eight directors standing for election; to reappoint Deloitte LLP as auditor of the company; to support the company's approach to executive compensation; to approve the renewal of the unallocated stock options, rights and other entitlements under the company's third amended and restated stock option plan; to approve the renewal of the unallocated share units, rights and other entitlements under the company's amended and restated share unit plan; and to approve the renewal of the unallocated deferred share units, rights and other entitlements under the company's third amended and restated deferred share unit plan.

Detailed results of the total shares voted at the AGSM are set out in an attached table.

George Paspalas, president and chief executive officer of Mag, extends his thanks to the shareholders of the company for their continued strong support.

About Mag Silver Corp.

Mag Silver is a growth-oriented Canadian development and exploration company focused on advancing high-grade, district-scale precious metal projects in the Americas. Mag is emerging as a top-tier primary silver mining company through its joint venture interest (44 per cent) in the 4,000-tonne-per-day Juanicipio mine, operated by Fresnillo PLC (56 per cent). The mine is located in the Fresnillo silver trend in Mexico, the world's premier silver mining camp, where in addition to underground mine production and processing of high-grade mineralized material, an expanded exploration program is in place targeting multiple highly prospective targets. Mag is also executing multiphase exploration programs at the Deer Trail 100-per-cent earn-in project in Utah and the 100-per-cent-owned Larder project, located in the historically prolific Abitibi region of Canada.

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