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 Valdecaas 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 & DSUs = 524,226

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

 JUANICIPIO JV PROJECT
The Juanicipio property, of which MAG owns 44%, is an
exceptionally high-grade epithermal vein system. It
is considered to be one of most recent richest silver 15
0 0m
discoveries globally, hosting 160 million ounces of silver
in indicated resources and 48 million ounces in inferred
resources @ over 601 g/t (excluding new vein expansion).
The principal vein, Valdecaas, spans over 1,500 metres
in length and averages 6 metres in width. Valdecaas has
the potential to be one of the most exceptional economic
producers in the silver industry, complemented by the
significant exploration upside.

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 six drills (5 surface, 1UG)
Approved $5.2M drilling program for 2016
$23.39*
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". 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), the U.S. Securities and Exchange Commission does not recognize these terms. 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, "Inferred Mineral Resources" have a great amount of uncertainty as to their existence.
It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, 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, accordingly, Inferred Mineral Resources may not form the
basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Economic Assessment as defined under Canadian National Instrument 43-101. Investors are cautioned not
to assume that part or all of an Inferred Resource exists, or is economically or legally mineable.

Michael Curlook, VP Investor Relations | 604-630-1399 (Tel) | 866-630-1399 (Toll free) | info@magsilver.com
Michael Curlook, VP Investor Relations | 604-630-1399 (Tel) | 866-630-1399 (Toll free) | info@magsilver.com