Vancouver, B.C. MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, or the “Company”) announces the Company’s unaudited consolidated financial results for the three months ended June 30, 2024 (“Q2 2024”). For details of the unaudited condensed interim consolidated financial statements of the Company for the three and six months ended June 30, 2024 (“Q2 2024 Financial Statements”) and management’s discussion and analysis for the three and six months ended June 30, 2024 (“Q1 2024 MD&A”), please see the Company’s filings on the System for Electronic Document Analysis and Retrieval Plus (“SEDAR+”) at (www.sedarplus.ca) or on the Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) at (www.sec.gov).

All amounts herein are reported in $000s of United States dollars (“US$”) unless otherwise specified (C$ refers to thousands of Canadian dollars).

KEY HIGHLIGHTS FOR Q2 2024 (on a 100% basis unless otherwise noted)

MAG reported net income of $21,614 ($0.21 per share) driven by income from Juanicipio (equity accounted) of $25,123, and adjusted EBITDA[1] of $50,353.
A total of 336,592 tonnes of ore at a silver head grade of 498 grams per tonne (“g/t”) (equivalent silver head grade[2] 746 g/t) was processed at Juanicipio.
Juanicipio achieved silver production and equivalent silver production2 of 5.0 and 7.1 million ounces, respectively.
Juanicipio generated strong operating cash flow of $92,766 and free cash flow1 of $88,637.
Building on the robust Q1 2024 cost performance, Juanicipio continued to improve with cash cost1 of $1.15 per silver ounce sold ($8.86 per equivalent silver ounce sold[3]) and all-in sustaining cost1 of $4.49 per silver ounce sold ($11.31 per equivalent see & read more on
https://magsilver.com/2024/mag-silver-reports-second-quarter-financial-results-2/