Mag Silver Publishes Fourth Annual Sustainability Report

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Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.

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This press release and the Sustainability Report include certain statements that may be deemed to be “forward-looking statements” or “forward-looking information” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws (collectively, “forward-looking statements”). All statements in this press release and in the Sustainability Report, other than statements of historical fact, are forward-looking statements, including, but not limited to, statements regarding: the contents or production of any subsequent sustainability reports; the focus of future sustainability efforts; achievement of future key milestones and success; the development of a regional climate model and an updated climate risk assessment for the Juanicipio Project; provisional estimates relating to the Company’s projects and future production; the commencement, timing, continuation and/or expansion of, and anticipated benefits from, community, stakeholder and environmental initiatives, mapping analyses and projects; the anticipated use of data results from any community, stakeholder and environmental initiatives and projects; the exploration of feasible reduction of emissions, including evaluation and utilization of renewable energy sources; the development and maintenance of future governance, environmental, climate and sustainability plans, programs and projects and planned disclosures related thereto; commitments relating to diversity, equity and inclusion initiatives, sustainable development goals and climate change, and the disclosures relating to and included in the CAMP, Statement and Roadmap; managing and providing effective oversight of governance and diversity, equity and inclusion protocols and strategy, sustainability matters, and enterprise-wide risks and opportunities, including through the development and implementation of a suite of climate change management practices and tools aligned with TCFD recommendations; the Company’s progress on achieving the recommendations set out in its Internal TCFD Report; the conduct of human rights due diligence to any human rights related impact of operating activities, and the disclosures relating thereto; the anticipated benefits of new and ongoing onboarding and training programs; future contributions towards achieving UN SDGs and mitigating negative impacts from operating activities; the successful implementation of mine closure and rehabilitation plans on the timeline contemplated herein, if at all; expectations with respect to business plans, exploration and drilling programs, expansions and development operations; ongoing silver recovery optimization initiatives; future remediation efforts, if any, in connection with the historical Omega mine tailing facility on the Larder concessions; the continuation and maintenance of the Juanicipio plant’s 4,000 tpd design capacity, and the anticipated cash flow and value generation arising therefrom; strategic partnerships in relation to Deer Trail and anticipated benefits arising from such partnerships, if any; trends in operating costs; the effectiveness of the Company’s measures to prevent or mitigate emerging cybersecurity risks; advancement of the Company’s portfolio of Tier One quality precious metals assets; the anticipated benefits of our business strategies; the Company’s vision to become the premier, top-tier precious metals company in the Americas; and other future events or developments. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, including the assumption that environmental and social programs and initiatives currently being advanced will continue to progress in a manner that aligns with expectations and the assumption that information publicly disclosed by Fresnillo or otherwise provided by Fresnillo to MAG, upon which certain disclosure contained in this Sustainability Report is based, is true and complete, such statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or developments to differ materially from those identified in the forward-looking statements.

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Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, impacts (both direct and indirect) of virus outbreaks on world markets and MAG Silver’s business; changes in applicable laws, regulations or community guidelines, including emerging climate change regulations and recent amendments to the federal mining laws in Mexico; changes in mineral production performance, exploitation and exploration successes; continued availability of capital and financing; conflicts in Europe and the Middle East; the potential impact of any tariffs, countervailing duties or other trade restrictions; general economic, market or business conditions, political risk, currency risk, cybersecurity risk and capital cost inflation; risks related to maintaining a positive relationship with the communities in which MAG Silver operates; and such other risks that are identified in MAG Silver’s regulatory filings with the Securities and Exchange Commission in the United States, as filed on EDGAR at www.sec.gov, and with the Canadian securities commissions and regulatory authorities, as filed on SEDAR+ at www.sedarplus.ca.

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LEI:
254900LGL904N7F3EL14

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