Mr. Fausto Di Trapani reports

MAG SILVER REMINDS SHAREHOLDERS TO VOTE "FOR" THE ARRANGEMENT WITH PAN AMERICAN SILVER

Mag Silver Corp. is reminding Mag shareholders about the proxy voting deadline for the company's coming special meeting of shareholders to be held in person at 1133 Melville St., Suite 3500, Vancouver, B.C., Canada, on July 10, 2025, at 9 a.m. Vancouver time, to consider the previously announced plan of arrangement with Pan American Silver Corp.

Vote today

To ensure their votes are counted, shareholders are encouraged to submit their vote for the arrangement before the proxy voting deadline on Tuesday, July 8, 2025, at 9 a.m. Vancouver time. This represents the recommendation of the board of directors of the company, and leading independent proxy advisory firms, including Institutional Shareholder Services (ISS) and Glass Lewis.

Questions and assistance with voting

If you have any questions or need assistance voting, contact Kingsdale Advisors, Mag's strategic adviser, using your preferred method of communication:

• Call: 1-800-775-1986 (toll-free in North America);
• Call: 1-416-623-2517 (text and call enabled outside North America);
• E-mail: contactus@kingsdaleadvisors.com.

The arrangement

Important additional information regarding the arrangement, including the rights and entitlements of shareholders thereunder and how shareholders can attend and vote at the meeting, is set out in the company's information circular dated June 6, 2025, and accompanying meeting materials. The meeting materials were mailed to all shareholders of record as of June 2, 2025, and are also available on the company's website and under the company's profile on SEDAR+.

About Mag Silver Corp.

Mag Silver is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district-scale precious metals projects in the Americas. Mag is a top-tier primary silver mining company through its (44-per-cent) joint venture interest in the 4,000-tonne-per-day Juanicipio mine, operated by Fresnillo (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 mining and processing operations, an expanded exploration program is in place targeting multiple highly prospective targets. Mag is also executing multiphase exploration programs at the 100-per-cent earn-in Deer Trail project in Utah and the 100-per-cent-owned Larder project, located in the historically prolific Abitibi region of Canada.

We seek Safe Harbor.