Peter's retirement marks the culmination of over 20 years of dedicated service to MAG. Under his leadership, Juanicipio, one of the world's leading silver deposits, was discovered, financed, developed and is now in operation. Beyond the discovery of Juanicipio, as Co-Founder, Peter played an integral role in the development of the Company including its IPO, seven years of service on the Board, its acquisition of strategic exploration properties in prolific jurisdictions and its growth into the substantial s ...

VANCOUVER, British Columbia, May 14, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (NYSE:MAG) ("MAG", or the "Company") today announced that it has filed a preliminary short form base shelf prospectus (the "Preliminary Shelf Prospectus") with the securities commissions in all of the provinces and territories of Canada. A corresponding registration statement on Form F-10 will be filed with the United States Securities and Exchange Commission (the "SEC") under the United States Securities Act of 1933, as amended ...

MAG Silver Corp. (MAG) reported adjusted earnings per share of 14 cents for first-quarter 2024, which surpassed the Zacks Consensus Estimate of 10 cents. The figure marked a solid improvement of 180% from the earnings of 5 cents per share reported in the year-ago quarter attributed to higher metal volumes and realized metal prices. The net income was $14.9 million compared with $4.7 million in the first quarter of 2023. MAG Silver's principal asset is the Juanicipio Project in Zacatecas, Mexico. The company ...

Exhibit 99.2 MAG SILVER CORP. Management's Discussion & Analysis For the three months ended March 31, 2024 Dated: May 13, 2024 VANCOUVER OFFICE Suite 770 800 W. Pender Street Vancouver, BC V6C 2V6 604 630 1399 phone 866 630 1399 toll free 604 681 0894 fax TSX: MAG NYSE American: MAG info@magsilver.com MAG SILVER CORP. Management's Discussion & Analysis For the three months ended March 31, 2024 (expressed in thousands of US dollars except as otherwise noted) Table of Contents | 1. | INTRODUCTION | 3 | | --- ...

VANCOUVER, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (NYSE:MAG) ("MAG" or "MAG Silver") reports production from Juanicipio (56% / 44% Fresnillo plc ("Fresnillo") and MAG, respectively) for the first quarter ("Q1") ended March 31, 2024. Q1 Highlights Solid throughput: Juanicipio processed 325,684 tonnes of ore in Q1. Despite a routine 4 day maintenance shutdown during the quarter, Juanicipio delivered 3,980 tonnes per operating day milling performance confirming its operational ef ...

Front Matter [Management's Responsibility and Report on Internal Control](index=2&type=section&id=Management's%20Responsibility%20and%20Report%20on%20Internal%20Control) Management affirms responsibility for IFRS financial statements and effective internal control over financial reporting as of December 31, 2023 - Management is responsible for the preparation and presentation of the consolidated financial statements, which are prepared in accordance with International Financial Reporting Standards (IFRS)[3](index=3&type=chunk)[4](index=4&type=chunk) - Management assessed the effectiveness of internal control over financial reporting and concluded that it was **effective as of December 31, 2023**, based on the criteria from the Committee of Sponsoring Organizations of the Treadway Commission (COSO)[10](index=10&type=chunk) [Report of Independent Registered Public Accounting Firm](index=4&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) Deloitte LLP issued unqualified opinions on financial statements and internal controls, highlighting the Juanicipio Mine investment as a critical audit matter - The auditor, Deloitte LLP, expressed an **unqualified opinion**, stating that the financial statements present fairly the financial position of MAG Silver Corp. as of December 31, 2023 and 2022, in accordance with IFRS[13](index=13&type=chunk) - The accounting for the **44% investment in the Juanicipio Mine** was identified as a Critical Audit Matter due to its significance and the complex judgments made by management and the operator[18](index=18&type=chunk)[19](index=19&type=chunk) - The auditor also issued an **unqualified opinion** on the company's internal control over financial reporting, concluding that it was maintained effectively as of December 31, 2023[22](index=22&type=chunk) Consolidated Financial Statements [Consolidated Statements of Income and Comprehensive Income](index=8&type=section&id=Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) Net income significantly increased to $48.7 million in 2023, driven by higher income from the Juanicipio Mine investment Key Income Statement Data (in thousands of US dollars, except per share amounts) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Income from equity accounted investment in Juanicipio | $65,099 | $40,767 | | Operating income | $50,769 | $17,751 | | Net income | $48,659 | $17,644 | | Diluted earnings per share | $0.47 | $0.18 | [Consolidated Statements of Financial Position](index=9&type=section&id=Consolidated%20Statements%20of%20Financial%20Position) Total assets grew to $520.5 million, primarily from the Juanicipio investment and cash, increasing total equity to $506.8 million Key Balance Sheet Data (in thousands of US dollars) | Metric | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash | $68,707 | $29,955 | | Investment in Juanicipio | $394,622 | $338,316 | | Total Assets | $520,530 | $407,829 | | Total Liabilities | $13,773 | $6,133 | | Total Equity | $506,757 | $401,696 | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash increased by $38.8 million in 2023, driven by $55.0 million from financing activities, offsetting operating and investing uses Key Cash Flow Data (in thousands of US dollars) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | ($8,945) | ($8,718) | | Net cash used in investing activities | ($7,243) | ($18,895) | | Net cash from financing activities | $54,955 | $928 | | **Increase (decrease) in cash** | **$38,752** | **($26,793)** | | **Cash, end of year** | **$68,707** | **$29,955** | [Consolidated Statements of Changes in Equity](index=11&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Equity) Total equity increased to $506.8 million, primarily due to $48.7 million net income and $56.8 million from share issuances - Total equity increased by **$105.1 million** during 2023, driven by **net income of $48.7 million** and net proceeds from share issuances[32](index=32&type=chunk) Notes to the Consolidated Financial Statements [Note 1: Nature of Operations](index=12&type=section&id=1.%20NATURE%20OF%20OPERATIONS) MAG Silver Corp. is a Canadian precious metals exploration company, with its 44% Juanicipio Mine interest achieving commercial production in June 2023 - The company's main asset is its **44% stake in the Juanicipio Mine** in Mexico[34](index=34&type=chunk) - The Juanicipio Mine's processing facility achieved **commercial production on June 1, 2023**[34](index=34&type=chunk) [Note 3: Material Accounting Policy Information](index=13&type=section&id=3.%20MATERIAL%20ACCOUNTING%20POLICY%20INFORMATION) Key policies include equity method accounting for Juanicipio, capitalization of exploration costs, and revenue recognition from concentrate sales - The company's **44% interest in Minera Juanicipio** is accounted for as an investment in an associate using the **equity method**[38](index=38&type=chunk)[49](index=49&type=chunk)[50](index=50&type=chunk) - Costs for acquiring, exploring, and evaluating mining rights are **capitalized**. These costs are reclassified to mining properties if a mineable ore body is discovered and are depleted on a units-of-production basis upon commencement of commercial production[52](index=52&type=chunk) - Revenue from the Juanicipio Mine is recognized from concentrate sales when **control transfers to the customer**, based on estimated metal quantities and provisional prices[80](index=80&type=chunk) [Note 5: Significant Accounting Judgments and Estimates](index=23&type=section&id=5.%20SIGNIFICANT%20ACCOUNTING%20JUDGMENTS%20AND%20ESTIMATES) Management's key judgments include commercial production date for Juanicipio and asset impairment, with estimates for revenue and share-based compensation - A significant judgment was the determination of commercial production for the Juanicipio processing facility, which was declared **effective June 1, 2023**, after operating at approximately **85% of its 4,000 tpd nameplate capacity** with consistent silver recovery[93](index=93&type=chunk) - Management applies significant judgment in assessing whether indicators of **impairment exist for non-current assets**, including exploration and evaluation assets[90](index=90&type=chunk)[91](index=91&type=chunk) [Note 9: Investment in Juanicipio](index=28&type=section&id=9.%20INVESTMENT%20IN%20JUANICIPIO) MAG's 44% equity-accounted investment in Juanicipio generated $65.1 million income in 2023, increasing its carrying value to $394.6 million Continuity of Investment in Juanicipio (in thousands of US dollars) | Description | 2023 | 2022 | | :--- | :--- | :--- | | Balance, beginning of year | $338,316 | $291,084 | | Net contributions/repayments | ($642) | $8,859 | | Income from equity accounted Investment | $65,099 | $40,767 | | Interest reclassified to accounts receivable | ($8,150) | ($2,394) | | **Balance, end of year** | **$394,622** | **$338,316** | Juanicipio Financial Summary (100% basis, in thousands of US dollars) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Sales | $442,288 | $215,736 | | Gross Profit | $201,983 | $132,838 | | Net Income | $129,428 | $90,247 | | **MAG's 44% portion of net income** | **$56,948** | **$39,709** | [Note 10: Exploration and Evaluation Assets](index=33&type=section&id=10.%20EXPLORATION%20AND%20EVALUATION%20ASSETS) Exploration and evaluation assets increased to $52.6 million, including Deer Trail and Larder projects, following a $10.5 million Black Hills write-down in 2022 Exploration & Evaluation Asset Balances (in thousands of US dollars) | Project | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Deer Trail Project | $27,315 | $19,565 | | Larder Project | $25,322 | $17,694 | | Black Hills Project | $0 | $0 | | **Total** | **$52,637** | **$37,259** | - The company wrote down the entire **$10,471 thousand** carrying value of the Black Hills project in 2022 due to permitting difficulties[119](index=119&type=chunk) [Note 11: Share Capital](index=35&type=section&id=11.%20SHARE%20CAPITAL) The company raised $59.7 million from share issuances in 2023 and maintains various equity compensation plans for employees and directors - In February 2023, the company closed a **$42.6 million bought deal public offering** and a **$17.1 million bought deal private placement** of flow-through shares[121](index=121&type=chunk)[122](index=122&type=chunk) - The company's equity compensation plans are limited, with the combined Stock Option Plan and Share Unit Plan not to exceed **5% of issued and outstanding common shares**[124](index=124&type=chunk)[129](index=129&type=chunk) [Note 13: Debt Facility](index=41&type=section&id=13.%20DEBT%20FACILITY) A $40 million senior secured revolving credit facility was established in October 2023, undrawn as of year-end - The company entered into a **$40 million senior secured revolving credit facility** with a 34-month term[141](index=141&type=chunk) - The facility was **undrawn as of December 31, 2023**. The company incurred and expensed **$48 thousand in commitment fees** and capitalized **$993 thousand in deferred financing fees**[142](index=142&type=chunk) [Note 15: Financial Risk Management](index=43&type=section&id=15.%20FINANCIAL%20RISK%20MANAGEMENT) The company faces commodity price, credit, liquidity, and currency risks, primarily through Juanicipio, without using derivative hedges - The company's associate, Juanicipio, is exposed to **commodity price risk** for silver, gold, lead, and zinc, and does not hedge these commodities[146](index=146&type=chunk) - The company is exposed to **currency risk** from the Mexican peso and Canadian dollar. A **10% appreciation in the peso** would result in a **$1.6 million loss** for MAG's share of its investment in Juanicipio[154](index=154&type=chunk)[159](index=159&type=chunk)[162](index=162&type=chunk) [Note 18: Related Party Transactions](index=47&type=section&id=18.%20RELATED%20PARTY%20TRANSACTIONS) Related party transactions include services from firms linked to the Chief Exploration Officer and $94.4 million in Juanicipio shareholder loans - The company contracts services from Minera Cascabel and IMDEX Inc., firms where Chief Exploration Officer Dr. Peter Megaw is a principal. Total expenses with these firms were **$1.1 million in 2023**[171](index=171&type=chunk)[172](index=172&type=chunk) - MAG's **44% share of shareholder loans to Juanicipio** amounted to **$94.4 million** as of December 31, 2023[175](index=175&type=chunk) Key Management Compensation (in thousands of US dollars) | Category | 2023 | 2022 | | :--- | :--- | :--- | | Salaries and other short term benefits | $1,949 | $2,075 | | Share-based compensation (non-cash) | $2,532 | $1,774 | | **Total** | **$4,481** | **$4,231** | [Note 20: Income Taxes](index=50&type=section&id=20.%20INCOME%20TAXES) Deferred income tax expense was $5.6 million, with significant unrecognized deferred tax assets from non-capital loss carryforwards Income Tax Expense (in thousands of US dollars) | Description | 2023 | 2022 | | :--- | :--- | :--- | | Deferred tax expense | ($5,577) | ($371) | | **Total income tax expense** | **($5,577)** | **($371)** | - The company has significant non-capital loss carryforwards for which no deferred tax assets have been recognized, totaling **$163.3 million** across Canada, Mexico, and the U.S[183](index=183&type=chunk)[184](index=184&type=chunk)[185](index=185&type=chunk) [Note 21: Subsequent Events](index=52&type=section&id=21.%20SUBSEQUENT%20EVENTS) The company agreed to acquire the Goldstake property for C$5.0 million, with the transaction expected to close in March 2024 - The company agreed to purchase the Goldstake property for **C$5,000 thousand**, with the transaction expected to close in March 2024[187](index=187&type=chunk)

Exhibit 99.2 MAG SILVER CORP. Management's Discussion & Analysis For the three and nine months ended September 30, 2023 (expressed in thousands of US dollars except as otherwise noted) Table of Contents | 1. | INTRODUCTION | 3 | | --- | --- | --- | | 2. | DESCRIPTION OF BUSINESS | 3 | | 3. | HIGHLIGHTS – SEPTEMBER 30, 2023 & SUBSEQUENT TO THE QUARTER END | 4 | | 4. | RESULTS OF JUANICIPIO | 6 | | 5. | DEER TRAIL PROJECT | 12 | | 6. | LARDER PROJECT | 15 | | 7. | OUTLOOK | 17 | | 8. | REVIEW OF FINANCIAL RES ...

Exhibit 99.1 MAG SILVER CORP. Unaudited Condensed Interim Consolidated Financial Statements (expressed in thousands of US dollars) For the three and six months ended June 30, 2023 Dated: August 7, 2023 A copy of this report will be provided to any shareholder who requests it. VANCOUVER OFFICE Suite 770 800 W. Pender Street Vancouver, BC V6C 2V6 604 630 1399 phone 866 630 1399 toll free 604 681 0894 fax TSX: MAG NYSE American: MAG www.magsilver.com info@magsilver.com MAG SILVER CORP. Condensed Interim Consol ...

Exhibit 99.1 MAG SILVER CORP. Unaudited Condensed Interim Consolidated Financial Statements (expressed in thousands of US dollars) For the three months ended March 31, 2023 Dated: May 9, 2023 A copy of this report will be provided to any shareholder who requests it. VANCOUVER OFFICE Suite 770 800 W. Pender Street Vancouver, BC V6C 2V6 604 630 1399 phone 866 630 1399 toll free 604 681 0894 fax TSX: MAG NYSE American: MAG www.magsilver.com info@magsilver.com MAG SILVER CORP. Condensed Interim Consolidated Sta ...

Juanicipio Project - Juanicipio项目H1 2023年持续矿物处理产生现金流，并逐步提升至铭牌产能[21] - Juanicipio项目拥有690万盎司白银，矿石品位为556克/吨[22] - Juanicipio项目毛利润为1.09亿美元（100%）[22] - Juanicipio项目仅勘探了5%的区域，具有高品位、高利润和区域规模的潜力[41, 58] - Juanicipio项目电气连接已完成[40, 41] Deer Trail Project - Deer Trail项目位于犹他州，公司在2016-2020年收购[4, 5] - Deer Trail项目第一阶段钻探成功[56] - Deer Trail项目历史高品位银矿（350 - 465 克/吨）[63] - Deer Trail项目2020年开始钻探计划[51] Larder Project - Larder项目位于安大略省，拥有7公里长的Cadillac-Larder断裂带[67, 75] ESG and Financials - 公司2022年10月发布了首份可持续发展报告，自2018年以来，整体ESG风险评分提高了46%[39] - 公司拥有4000万美元现金，无债务[22, 50] - 机构投资者持有公司71%的股份[42]