Mr. Michael Curlook reports

MAG SILVER PUBLISHES SECOND ANNUAL SUSTAINABILITY REPORT

Mag Silver Corp. has published its second annual sustainability report, which underscores Mag's fundamental commitment to transparency with its stakeholders while providing a comprehensive overview of the company's environmental, social and governance (ESG) commitments, practices and performance for the 2022 year. The 2022 Sustainability Report is supported by the MAG Silver 2022 ESG Data Table, which houses MAG's historical ESG performance data. The 2022 Sustainability Report and ESG Data Table are available on the MAG Silver website at the following link: https://magsilver.com/esg/reports/.

Jim Mallory, MAG's Chief Sustainability Officer, stated: "Our second annual Sustainability Report reflects our continued commitment to lasting and sustainable value to our people, stakeholders, communities, and the planet. I am very proud of the way our workforce approaches health, safety and wellness associated with our workplace and environment. Safety performance has improved over the last year at Juanicipio, and both Deer Trail and Larder have embraced a 'step back and assess' culture to understand and appropriately address any risks. These behaviours are at the core of our values and are critical to the success of our teams and our business. MAG Silver's commitment to sustainability begins with leadership and is manifested through the tenacity of everyone in the Company."

"On behalf of MAG Silver, I would like to extend my sincere appreciation to all project team personnel at Fresnillo and Juanicipio, and at our Deer Trail and Larder projects for their kind assistance in the development of this report," said George Paspalas, MAG's President and CEO.

2022 Sustainability Report Highlights:

Zero fatalities at the Juanicipio Project or at MAG's exploration projects (Deer Trail and Larder).

Lost Time Injury Frequency Rate (per 200,000 hours) of 1.92 (employees and mine contractors; excluding construction contractors) at the Juanicipio Project

Over 62,000 hours dedicated to safety training across all MAG Silver projects.

Zero significant environmental incidents at the Juanicipio Project, the Deer Trail Project or the Larder Project.

Climate and environmental risk considerations assessed for the Juanicipio Project through a process aligned with TCFD recommendations.

66% of MAG Silver's total workforce is hired from local communities.

Over 13 community engagement initiatives across 4 different project streams at the Juanicipio Project: health, education, capacity building and microenterprise projects.

38% of Board directors are female, surpassing the 30% target established in MAG's Diversity, Equity and Inclusion Policy

Code of Conduct and Social Responsibility Policy refreshed and updated to specifically articulate the importance of engaging with Indigenous communities through meaningful dialogue, cooperation, and deepening of our shared-value approach to local development activities to promote sustainable and lasting economic and social benefits.

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

MAG Silver Corp. is a growth-oriented Canadian exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG Silver is emerging as a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day (tpd) Juanicipio mine, operated by Fresnillo plc (56%). 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 Silver is also executing multi-phase exploration programs at the Deer Trail 100% earn-in Project in Utah and the 100% owned Larder project, located in the historically prolific Abitibi region of Canada.

We seek Safe Harbor.