MAG Silver Corp.: Widest Intercepts to Date Extend High-Grade Valdecanas Vein to Depth

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 23, 2015) - MAG Silver Corp. (MAG.TO)(NYSE MKT:MVG) ("MAG" or the "Company") reports new exploration results from the Valdecañas Vein on the Minera Juanicipio S.A. de C.V. ("Minera Juanicipio") Joint Venture property (owned 44% by MAG and 56% by Fresnillo plc). Four new exploration step-out holes were targeted approximately 100 metres below the existing "Deep Zone" Indicated and Inferred Resources (see press release dated May 27, 2014). The four holes were drilled on 150 metre centres over a strike length of approximately 500 metres below the en echelon overlap zone between the East and West Valdecañas Veins and include the three widest and deepest intercepts to date on the property (see Table 1). This new zone appears to be the extension of the southwest dipping Valdecañas Vein system and it remains open to depth along the entire strike length within the Joint Venture boundary.

These intercepts widen progressively up to 32.09 metres (true widths) towards the east in the central portion of the property, significantly extending the widening Deep Zone to depth. The intercepts also show significant amounts of calc-silicate (skarn) alteration in and around the veins and the first significant copper values for the entire area; both indications of higher temperature mineralization conditions. The high silver and gold in Holes P2 and P3 coincide with zones of overprinted quartz veins that cut across earlier base-metal rich calc-silicate vein stages, indicating superimposition of an additional precious-metals rich vein stage.

"We are extremely pleased to see such a dramatic widening in tandem with strong grades in the Valdecañas Vein at these depths. The geological providence of this system continues to deliver significant results." said George Paspalas, President and CEO of MAG Silver.

Table 1: Assay Results - Exploration Step Out Holes P1-P4(1)

Dr. Peter Megaw, the Company's Chief Exploration Officer, added that, "the appearance of copper and strong skarn alteration in this area, combined with the later cross-cutting silver-gold rich veining suggests that we may have hit an ore-fluid upwelling zone, which could open up a new exploration target zone along the Valdecañas vein system."

The results reported above are part of ongoing exploration being carried out by Minera Juanicipio, with these four holes being exploration step-outs beneath the previous deepest drilling on the property. In addition to the exploration drilling, ramp advancement and associated surface and underground mining infrastructure continue to be progressed on the Juanicipio property. Metallurgical drilling on the Valdecañas Vein continues with one drill currently operating.