M AG:  |  

MAG Silver Corp. is focused on advancing and exploring high grade district scale projects located within the Mexican
Silver Belt. Our mission is to become one of the premier companies in the silver mining industry. Currently, we are developing
the underground decline towards the high grade Valdecañas and Juanicipio silver veins in Zacatecas State, all within the joint
venture between MAG Silver (44%) and Fresnillo PLC (56%). In addition, ongoing exploration continues within the Juanicipio
joint venture, while the Company concurrently works on regaining surface access to our 100% owned Cinco de Mayo property
in Chihuahua state.

AGM

INVESTMENT HIGHLIGHTS
MAG SILVER/FRESNILLO
• Highest Grade Developing Silver Asset
• Strong Leverage to Silver Price
• Proven Operator Expertise – Fresnillo PLc
• US $140M Cash* and NO DEBT
• Juanicipio JV All-in Cash Cost of US$6.61/oz
• Excellent Exploration Potential

Issued/Out CASH*
Juanicipio JV Resource Estimate Summary
80.6 M US$140 M
Resource Category Tonnes Silver Gold Lead Zinc Silver
Fully Diluted NO DEBT 1 M g/t g/t % % M oz
83.2 M
BONANZA
Total Indicated 8.32 601 1.7 2.0 3.7 1602
Total Options3
2.6 M Total Inferred 2.42 626 1.9 1.4 2.2 482
DEEP ZONE
Total Indicated 1.82 93 1.7 1.4 2.6 52
MAG SILVER SHARE INFORMATION
Total Inferred 2.72 146 2.0 2.1 3.4 132
USD CAD

Market Cap $1.2 B $1.6 B
Recent $15.00 $20.00 “I think MAG is one of the best pure silver
52 week high/low $18.12 – $6.12 $23.32– 8.67 stories out there.”
– The Gold Report Interview with
* September 30, 2016 John Hathaway, Tocqueville Asset Mgmt.
1. UPEA Source: RPA 2014 (US$)
2. 100% of Project
3. Includes PSU, RSU & DSU’s = 524,226

High-Grade Silver Discovery & Development www.magsilver.com

Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies. the U.com . or economic studies except for a “Preliminary Economic Assessment” as defined under Canadian National Instrument 43-101. of which MAG owns 44%.com Michael Curlook. Securities and Exchange Commission does not recognize these terms. complemented by the significant exploration upside. VP Investor Relations | 604-630-1399 (Tel) | 866-630-1399 (Toll free) | info@magsilver. Michael Curlook.39* AFTER-TAX IRR · Underground decline @ over 3200m+ AFTER-TAX CASH FLOW (Yr 1 − 6) $100M* SILVER PRICE 43%* * UPEA Source: RPA 2014 GRADE IS KING * Not including MAG Silver data Data provided by Raymond James Cautionary Note to Investors Concerning Estimates of Indicated & Inferred Mineral Resources This document uses the terms "Indicated Mineral Resources” and “Inferred Mineral Resources". AFTER-TAX CASH FLOW – MAG SHARE over 15 year life of mine MILESTONES & DEVELOPMENTS 33% 38% Juanicipio JV Property: MAG 44% $75M $85M ∙ Juanicipio JV Exploration Program 2016 $18 $20 − Stage 3: $1.2M drilling program for 2016 $23. Valdecañas has the potential to be one of the most exceptional economic producers in the silver industry. is an exceptionally high-grade epithermal vein system. Under Canadian rules. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition. The principal vein. It is considered to be one of most recent richest silver 15 0 0m discoveries globally. MAG advises investors that although these terms are recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects). Valdecañas. estimates of Inferred Mineral Resources are considered too speculative geologically to have the economic considerations applied to them to enable them to be categorized as mineral reserves and.2M six drills (5 surface. hosting 160 million ounces of silver in indicated resources and 48 million ounces in inferred resources @ over 601 g/t (excluding new vein expansion).500 metres in length and averages 6 metres in width. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence.S. spans over 1. accordingly. Investors are cautioned not to assume that part or all of an Inferred Resource exists. or is economically or legally mineable. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. JUANICIPIO JV PROJECT The Juanicipio property. VP Investor Relations | 604-630-1399 (Tel) | 866-630-1399 (Toll free) | info@magsilver. 1UG) − Approved $5.