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MAG # 770 800 West Pender Street Vancouver , BC V6C 2V6 P : 604-630-1399 F : 604-681-0894 MAG Silver Corp. For Immediate Release August 11 , 2021 NR # 21-12 MAG SILVER REPORTS SECOND QUARTER FINANCIAL RESULTS Vancouver , B.C. MAG Silver Corp. ( TSX / NYSE American : MAG ) ( “ MAG ” or the “ Company ” ) announces the Company's unaudited financial results for the three and six months ended June 30 , 2021. For details of the unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis for the three and six months ended June 30 , 2021 , please see the Company's filings on SEDAR ( www.sedar.com ) or on EDGAR ( www.sec.gov ) . All amounts herein are reported in $ 000s of United States dollars ( " US $ " ) unless otherwise specified . HIGHLIGHTS – JUNE 30 , 2021 AND EVENTS SUBSEQUENT TO THE QUARTER END OPERATIONAL ✓ Positive progress was achieved during the quarter ended June 30 , 2021 on the construction of the 4,000 tpd Juanicipio processing plant and civil works : • • • Mechanical installation of the flotation cells and filters were completed during the Q2 2021 ; The SAG and ball mills were installed during Q2 2021 ; and , Underground development has reached approximately 40 km ( 25 miles ) , and the first cut and fill stope has been opened and a trial longhole stope is being tested . As reported by the operator Fresnillo , the Juanicipio plant is expected to come in on budget and as scheduled to commence commissioning in Q4 2021 , reaching 40 to 50 % of its 4,000 tonnes per day ( “ tpd " ) nameplate capacity by the end of 2021 and reaching 90 to 95 % of its nameplate capacity in 2022 . ✓ A regularly updated photo gallery of construction progress at Juanicipio is available at https://magsilver.com/projects/photo-gallery/#photo-gallery . ✓ Batch processing of mineralized material from development headings continues through the nearby Fresnillo plant at a targeted two days per month of continuous processing for a nominal expected rate of 16,000 tonnes per month . ✓ For the three months ended June 30 , 2021 , on a 100 % basis : • • 44,435 tonnes of mineralized material were processed through the Fresnillo plant , with 404,518 payable silver ounces , 709 payable gold ounces , 133 tonnes of lead and 209 tonnes of zinc produced and sold ; and , Pre - commercial production sales totaled $ 11,256 for the quarter ( net of treatment and processing costs ) , less $ 2,373 in mining and transportation costs , netting $ 8,883 recorded as gross profit by Minera Juanicipio in the quarter . ✓ For the six months ended June 30 , 2021 , on a 100 % basis : Page 1 of 7