Exhibit 99.1 MAG SILVER CORP. Unaudited Condensed Interim Consolidated Financial Statements (expressed in thousands of United States dollars) For the three months ended March 31, 2025 Dated: May 7, 2025 VANCOUVER OFFICE Suite 801 815 West Hastings Street Vancouver, BC V6C 1B4 MAG SILVER CORP. Condensed Interim Consolidated Statements of Income and Comprehensive Income For the three months ended March 31, 2025 and 2024 (In thousands of United States dollars, except for shares and per share amounts - Unaudite ...

Corporate Highlights - MAG Silver Corp. appointed John Armstrong to the Board effective January 31, 2025, as part of its Board refreshment strategy [3] - The company reported record net income of $28,744 (or $0.28 per share) for Q1 2025, driven by strong performance from the Juanicipio project [5][28] - MAG declared its second dividend of $0.20 per share, payable on May 28, 2025, reflecting a cash flow linked component from Juanicipio [5] Financial Performance - For Q1 2025, MAG reported sales of $175,235, a significant increase from $123,689 in Q1 2024, attributed to a 37% rise in realized metal prices [20] - Gross profit for Q1 2025 was $120,990, compared to $64,864 in Q1 2024, indicating improved profitability [20] - The company’s cash operating margin increased from 70% to 81% due to favorable commodity price movements and reduced operating costs [22] Operational Highlights - Juanicipio processed 337,017 tonnes of ore with a silver head grade of 430 g/t, achieving a record silver recovery of 96% [5][12][13] - The project generated strong operating cash flow of $86,399 and free cash flow of $77,438 during Q1 2025 [41] - Total cash costs for Juanicipio were reported as negative $3,641, with a cash cost per silver ounce sold of negative $0.91 [15][17] Exploration Activities - In Q1 2025, MAG conducted 6,992 metres of underground infill drilling at Juanicipio, with plans for further drilling in 2025 [6] - The Deer Trail Project in Utah completed six pilot holes totaling 1,783 metres, aimed at assessing feasibility for future drilling [6] - The Larder Project in Ontario is set to begin a 25,000 metres drill campaign in Q2 2025, following a detailed geological synthesis of data collected in 2024 [6] Production Metrics - Juanicipio achieved silver production of 4.5 million ounces and equivalent silver production of 6.5 million ounces in Q1 2025 [5] - The total material mined increased by 7% to 347,467 tonnes compared to Q1 2024, reflecting operational ramp-up [11] - The all-in sustaining cost per silver ounce sold decreased to $2.04 in Q1 2025 from $6.11 in Q1 2024, driven by lower costs and higher by-product revenues [18]

Core Viewpoint - MAG Silver Corp. has declared a total dividend of $0.20 per share, consisting of a fixed dividend of $0.02 and a performance-linked dividend of $0.18, reflecting strong cash flow from the Juanicipio project [1][2]. Group 1: Dividend Declaration - The total dividend of $0.20 per share is payable on May 28, 2025, to shareholders on record as of May 19, 2025 [1]. - The performance-linked dividend represents approximately 30% of the $61.5 million cash received from the Juanicipio project [1]. Group 2: Company Strategy - The company emphasizes a disciplined and transparent approach to returning capital to shareholders, aligning returns with operational results [2]. - The structure of the dividend allows shareholders to have direct exposure to the company's success while maintaining flexibility for future growth [2]. Group 3: Company Overview - MAG Silver Corp. is a Canadian mining and exploration company focused on high-grade precious metals projects in the Americas [3]. - The company holds a 44% joint venture interest in the Juanicipio Mine, which has a design capacity of 4,000 tonnes per day and is operated by Fresnillo plc [3]. - In addition to Juanicipio, MAG is conducting exploration programs at the Deer Trail Project in Utah and the Larder Project in Canada [3].

Group 1 - MAG Silver's shares have increased by 0.4% over the past four weeks, closing at $15.42, with a mean price target of $19.51 indicating a potential upside of 26.5% [1] - The average of 10 short-term price targets ranges from a low of $16 to a high of $22.93, with a standard deviation of $2.17, suggesting a variability in estimates [2] - Analysts have shown a strong agreement in revising earnings estimates higher, which correlates with potential stock price increases [4][11] Group 2 - The Zacks Consensus Estimate for the current year has risen by 12.2% over the past month, with four estimates increasing and no negative revisions [12] - MAG Silver holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not be reliable for predicting exact gains, they can indicate the direction of price movement [13]

Core Viewpoint - MAG Silver Corp. reports exceptional operational performance and record-breaking silver recovery at the Juanicipio mine for Q1 2025, solidifying its position as a leading silver operation [1][2]. Production Highlights - The Juanicipio plant processed 337 thousand tonnes of ore in Q1 2025, a slight increase of 0.9% from Q4 2024 and a 3.4% increase from Q1 2024 [2][7]. - The average silver head grade was 430 grams per tonne, reflecting a 3.1% increase from Q4 2024 but a 9.7% decrease from Q1 2024 [2][7]. - Silver production reached 4.469 million ounces, a 5.0% increase from Q4 2024 and a 0.5% increase from Q1 2024 [2][7]. - Gold production was 10,198 ounces, marking a 12.8% increase from Q4 2024 and a 2.7% increase from Q1 2024 [2][7]. - Lead and zinc production also saw increases, with lead at 10,576 klb (up 7.0% from Q4 2024) and zinc at 16,894 klb (up 8.1% from Q4 2024) [2][7]. 2025 Guidance - Silver production is forecasted to be between 14.7 million and 16.7 million ounces, with payable silver production expected between 13.1 million and 14.9 million ounces [4][6]. - The throughput rate is projected at 4,000 tonnes per operating day, with silver head grades ranging from 380 g/t to 430 g/t and gold head grades from 1.2 g/t to 1.4 g/t [4][6]. - Cash operating costs are expected to range from ($1.00) to $1.00 per silver ounce sold, while all-in sustaining costs are forecasted between $6.00 and $8.00 per silver ounce sold [5][6]. Capital Investments - Sustaining capital expenditures for 2025 are estimated between $70 million and $80 million, focusing on tailings dam expansion and underground infrastructure development [5][6]. - Expansion capital expenditures are projected between $22 million and $28 million, aimed at installing an underground conveyor system to enhance mining efficiency [5][6]. Operational Enhancements - The Juanicipio mine achieved a record silver recovery rate of 96% in Q1 2025, attributed to metallurgical enhancements implemented in 2024 [7]. - The company is focused on optimizing production and advancing key capital investments to sustain and enhance output [2][8].

Core Viewpoint - MAG Silver Corp. reported mixed financial results for the fourth quarter and full year of 2024, with adjusted earnings per share missing estimates but showing year-over-year improvement in earnings and revenues [1][4]. Financial Performance - Adjusted earnings per share for Q4 2024 were 18 cents, missing the Zacks Consensus Estimate of 24 cents, but improved by 29% from 14 cents in the same quarter last year [1]. - For the full year 2024, adjusted earnings per share were 75 cents, surpassing the Zacks Consensus Estimate of 73 cents, and up from 47 cents in 2023 [4]. - Revenues for 2024 grew by 41.9% year over year to $627 million, although it fell short of the Zacks Consensus Estimate of $632 million [4]. - Net income for 2024 was $77.7 million, compared to $48.6 million in 2023 [4]. Production and Operations - The Juanicipio plant processed 333,612 tons of ore in Q4 2024, a decrease of 3.8% from 346,766 tons in the same quarter last year [2]. - Silver head grade averaged 417 grams per ton (g/t) in Q4, leading to an annual average of 468 g/t, both exceeding expectations [3]. - Silver production declined by 5.5% year over year to 4.26 million ounces, while gold output was 9,041 ounces, down 14.6% from the previous year [3]. Cost and Cash Flow - Production costs were reported at $154 million, down from $169 million a year ago [5]. - Adjusted EBITDA for 2024 was $186 million, significantly higher than $97.6 million in 2023 [5]. - Operating cash flow from Juanicipio was $357 million, compared to $145 million in the previous year, with free cash flow reaching $292 million, up from $61 million in 2023 [6]. - As of December 31, 2024, the company had working capital of $160 million, an increase from $67 million in 2023, and was debt-free [6]. Stock Performance - MAG Silver's shares have increased by 81.9% over the past year, outperforming the industry growth of 71.5% [7].

Group 1 - MAG Silver Corp. is a precious metals mining company with assets primarily located in North America [1] - The company has early-stage exploration projects in the United States and Canada, but derives most of its value from its existing operations [1] Group 2 - The investment strategy focuses on turnarounds in natural resource industries, with a typical holding period of 2-3 years [2] - The portfolio has achieved a compounded annual growth rate of 26% over the last 6 years, indicating strong performance [2]

Financial Performance - MAG reported a net income of $77,779, equating to $0.75 per share, with adjusted EBITDA of $186,734 for the year ended December 31, 2024[2]. - Net income for the year ended December 31, 2024, was $201,541, up from $129,428 in 2023[21]. - Adjusted EBITDA attributable to the company increased to $186,734 in 2024 from $97,613 in 2023[44]. - Cash flow from operating activities for 2024 was $356,691,000, a significant increase from $145,064,000 in 2023[46]. - Juanicipio free cash flow reached $292,349,000 in 2024, compared to $60,814,000 in 2023[46]. - Working capital improved to $160,113 as of December 31, 2024, compared to $67,262 in 2023[31]. Production and Operational Efficiency - A total of 1,342,786 tonnes of ore were mined, representing a 22% increase over 2023, while 1,328,178 tonnes were processed, a 5% increase from the previous year[14][15]. - Silver production reached 18.6 million ounces, with equivalent silver production at 26.8 million ounces, reflecting strong operational performance at the Juanicipio mine[2]. - The company processed 1,328,178 tonnes in 2024, a 5% increase in tonnes processed compared to the previous year[23]. - Silver metallurgical recovery improved to 93% from 87% in 2023, attributed to the start of commercial pyrite and gravimetric concentrate production[2][16]. Cost Management - The cash cost per silver ounce sold was $0.88, and the all-in sustaining cost was $5.54 per silver ounce sold, demonstrating effective cost management[2][17]. - Cash cost per silver ounce sold decreased significantly from $6.07 in 2023 to $0.88 in 2024[35]. - All-in sustaining cost per silver ounce sold improved from $10.32 in 2023 to $5.54 in 2024, indicating better cost management[38]. Sales and Revenue - Sales increased by $185,077 to $627,366 in 2024, driven by a 14% increase in metal volumes and a 19% increase in realized metal prices[21]. - Gross profit rose to $382,648 in 2024, compared to $201,983 in 2023, reflecting improved operational efficiency[21]. - The average realized price per silver ounce sold increased from $23.66 in 2023 to $28.78 in 2024[38]. - Realized prices for 2024 included $28.78/oz for silver and $2,430.76/oz for gold, impacting equivalent silver production calculations[59]. Future Outlook and Investments - For 2025, silver production at Juanicipio is forecasted between 14.7 million and 16.7 million ounces, with cash costs expected to range from $1.00 to $1.00 per ounce sold[6]. - Expansionary capital expenditures for 2025 are estimated between $22 million and $28 million, aimed at enhancing mining efficiencies[4]. - The updated technical report on Juanicipio indicated a 33% increase in mineral resources and a 15.4 million tonnes mineral reserve estimate at 628 g/t equivalent silver grade[3]. - MAG entered into an exploration agreement with Apollo Silver Corp. for the Cinco de Mayo Project, allowing for potential future growth through exploration[6]. Exploration and Development - The company is executing multi-phase exploration programs at the Deer Trail Project in Utah and the Larder Project in Canada[48]. - Forward-looking statements include anticipated production rates and capital requirements for ongoing projects[53]. - The company emphasizes the importance of obtaining adequate financing for its exploration and development activities[54]. - Risks include potential increases in capital costs and changes in mineral production performance[55]. - The company plans to provide updates on the Deer Trail and Larder Projects in future reports[60]. Dividends - MAG declared an inaugural fixed dividend of $0.02 per share and an additional cash flow linked dividend of $0.16 per share, totaling $0.18 per share payable on April 21, 2025[2].

Core Viewpoint - MAG Silver Corp. reported strong financial results for the year ended December 31, 2024, with significant contributions from the Juanicipio mine, leading to increased net income and cash flow, alongside the declaration of inaugural dividends to shareholders [2][29]. Financial Performance - The company reported a net income of $77,779, or $0.75 per share, driven by income from the Juanicipio mine of $92,875 and adjusted EBITDA of $186,734 [2][29]. - Total sales for the year reached $627,366, a 42% increase from $442,288 in 2023, attributed to higher metal volumes and realized prices [20][21]. - The company declared a total dividend of $0.18 per share, including a fixed dividend of $0.02 and a cash flow-linked dividend of $0.16, representing a total return of $18,604 to shareholders [2][29]. Operational Highlights - Juanicipio processed 1,328,178 tonnes of ore with a silver head grade of 468 g/t, achieving silver production of 18.6 million ounces [2][12]. - The mine maintained strong cost performance with a cash cost of $0.88 per silver ounce sold and an all-in sustaining cost of $5.54 per silver ounce sold [16][18]. - Silver metallurgical recovery improved to 93% from 87% in 2023, reflecting operational optimizations and the commencement of commercial concentrate production [15][16]. Exploration and Development - The updated technical report on Juanicipio indicated a 33% increase in mineral resources since the 2017 assessment, with a declared mineral reserve estimate of 15.4 million tonnes at a grade of 628 g/t equivalent silver [2][12]. - Ongoing exploration at the Deer Trail Project and Larder Project has shown promising results, including significant extensions of mineralization and new high-grade discoveries [11][12]. Future Guidance - For 2025, silver production at Juanicipio is forecasted to be between 14.7 million and 16.7 million ounces, with cash costs expected to range from $1.00 to $1.00 per silver ounce sold [2][3]. - Sustaining capital expenditures for 2025 are estimated between $70,000 and $80,000, with expansionary capital expenditures projected between $22 million and $28 million [3][6].

All amounts herein are reported in United States dollars (“US$”) unless otherwise specified VANCOUVER, British Columbia, March 24, 2025 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, or the “Company”) announces that its Board of Directors (“Board”) has adopted a dividend policy for the Company under which the Company intends to pay quarterly fixed dividends of $0.02 per share. In addition, at average realised silver prices of above $20 per ounce, the Company intends to augment the f ...