Gatling Exploration : Notice of Change in Corporate Structure

NOTICE OF CHANGE IN CORPORATE STRUCTURE

Pursuant to Section 4.9 of National Instrument 51-102

Continuous Disclosure Obligations

Item 1 Names of the parties to the transaction

Gatling Exploration Inc. ("Gatling") and MAG Silver Corp. ("MAG") Item 2 Description of the transaction

On May 20, 2022, Gatling announced the completion of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia), pursuant to which, among other things, MAG acquired all of the issued and outstanding common shares of Gatling (the "Gatling Shares") on the basis of 0.0170627 common shares of MAG (the "MAG Shares") in exchange for each Gatling Share.

The Arrangement was approved by holders of Gatling securityholders at a special meeting held on May 13, 2022 and by the Supreme Court of British Columbia on May 17, 2022.

Complete details of the Arrangement are set out in the management information circular of Gatling dated April 11, 2022 (the "Circular"), which has been filed on Gatling's SEDAR profile at www.sedar.com.

Item 3 Effective date of the transaction

May 20, 2022

Item 4 Name of each party, if any, that ceased to be a reporting issuer after the transaction and of each continuing entity

On completion of the Arrangement, Gatling became a wholly-owned subsidiary of MAG. The Gatling Shares will be de-listed from the TSX Venture Exchange at the close of trading on May 24, 2022. The MAG Shares are trading on the Toronto Stock Exchange.

Gatling will make an application to the British Columbia Securities Commission, as principal regulator, to cease to be a reporting issuer in British Columbia and Alberta.

Item 5 Date of the reporting issuer's first financial year-end after the transaction Not applicable.

Item 6 Periods, including the comparative periods, if any, of the interim financial reports and the annual financial statements required to be filed for the reporting issuer's first financial year after the transaction

- 2 -

Not applicable.

Item 7 Documents filed under NI 51-102 that describe the transaction and where those documents can be found in electronic format

The following documents were filed to Gatling's SEDAR profile pursuant to NI 51-

102 and in connection with the Arrangement:

• news releases filed on March 11, 2022, April 20, 2022, May 16, 2022 and May 20, 2022;
• material change reports filed on March 11, 2022 and May 20, 2022;
• a copy of the arrangement agreement filed on March 11, 2022; and
• the Circular filed April 13, 2022.

Item 8 Date of Notice

May 20, 2022