MAG Silver Corp. announced that commercial production has been achieved at the Juanicipio Project (56% /44% Fresnillo plc (“Fresnillo”) and MAG, respectively) effective June 1, 2023. Following a successful commissioning period, the Juanicipio mine, processing facility and other vital systems are operating in line with, or rapidly approaching design capacity.

The Juanicipio mill is operating at approximately 85% of its design capacity of 4,000 tonnes per day (“tpd”) with silver recovery consistently above 88%. On a 100% basis, approximately 3.2 million ounces of silver have been produced from the Juanicipio processing facility from March 2023 to the end of May 2023, and production is expected to continue to increase steadily through Third Quarter where it is envisioned the plant will be running at design capacity. All major construction activities have now been completed and Juanicipio is demonstrating its ability to sustain ongoing production levels.

The operations team is continually seeking opportunities to improve and optimize the mine, plant and other critical systems to achieve and potentially exceed design capacities.