MAG Silver Corp. reported production results from Juanicipio for the fourth quarter and year ended December 31, 2022. The company reported production from the Juanicipio Project (56% /44% Fresnillo plc (Fresnillo) and MAG, respectively) for the fourth quarter ended December 31, 2022 and full year 2022. As reported to MAG by the project operator Fresnillo, 165,786 tonnes of mineralized material from both underground development and initial stopes were processed during the three months ended December 31, 2022 at an average silver head grade of 415 grams per tonne (“g/t”). Total Juanicipio production for Fourth Quarter and 2022, based on provisional estimates before offtake agreement adjustments, totaled 1,861 koz of silver and 5,380 gold ounces, and 9,250 koz of silver and 22,253 gold ounces, respectively. The associated lead and zinc production will be reported with MAG Silver's year end filings.

For the year ended December 31, 2022, a total of 646,148 tonnes of mineralized material were processed at an average silver head grade of 520 g/t.