MAG Silver Corp. reported first quarter production of underground development and stope material from the Juanicipio Project (56% /44% Fresnillo plc ("Fresnillo") and MAG Silver, respectively). As reported to MAG by the project operator Fresnillo, on a 100% basis, 145,484 tonnes of mineralized material were processed during the three months ended March 31, 2022 (three months March 31, 2021: 36,395 tonnes) at an average head grade of 597 silver grams per tonne ("g/t") or 17.4 silver ounces/ton (March 31, 2021: 458 g/t or 13.4 silver ounces/ton). Total Juanicipio production for the quarter based on provisional estimates before offtake agreement adjustments totaled 2,400,000 silver ounces and 5,837 gold ounces (March 31, 2021: 462,321 silver ounces and 697 gold ounces). MAG's attributable 44% production interest for the quarter based on provisional estimates before offtake agreement adjustments totaled 1,056,000 silver ounces and 2,568 gold ounces (March 31, 2021: 203,421 silver ounces and 307 gold ounces). The associated lead and zinc production will be reported with MAG's first quarter filings. Until the Juanicipio processing plant is commissioned, mineralized material from the Juanicipio mine is being campaign processed through the nearby Fresnillo and Saucito beneficiation plants (both 100% owned by Fresnillo), with the lead (silver rich) and zinc concentrates treated at market terms under off-take agreements with Met-Mex Peñoles, S.A. de C.V. in Torreón, Mexico. Just over half (54%) of the tonnes in first quarter were processed at the Saucito plant (March 31, 2021: nil), where the flowsheet more closely resembles that of the Juanicipio plant. It is expected these results will provide further valuable metallurgical benefits when production commences at Juanicipio. The net revenue from the current production, net of processing and treatment charges, is being applied by the Juanicipio shareholders to offset initial project and sustaining capital cash requirements. Construction of the Juanicipio plant was delivered by Fresnillo on schedule during the fourth quarter of 2021. However, as previously disclosed, the mill commissioning timeline was extended until tie-in approval to the national power grid is obtained from the Federal power authorities (see Press Release December 27, 2021). According to Fresnillo, the power tie-in remains on track for mid-2022, with the expectation to ramp up the Juanicipio processing plant to 85-90% of capacity by year end.