Pan American Silver Corp. (‘Pan American') and MacMillan Minerals Inc. (‘MacMillan') announced that they have entered into an arrangement agreement dated April 18, 2016 with Maverix Metals Inc. (‘Maverix'), which when completed, will launch Maverix as a new publicly traded royalty and streaming company. On the closing of the Arrangement, MacMillan will be renamed Maverix Metals Inc. and will continue to trade as MMX on the TSX Venture Exchange.

Mr. Geoff Burns, the former CEO of Pan American, will be appointed as the Chairman of the combined company and Mr. Daniel O'Flaherty will be appointed as Maverix's Chief Executive Officer. Maverix's Board of Directors, Special Advisor and Senior Executive Team: In addition to Mr. Burns and Mr. O'Flaherty, Maverix will welcome Mr. J.C. Stefan Spicer, Dr. Christopher Barnes, and Pan American representatives Mr. Rob Doyle and Mr. Christopher Emerson to its Board of Directors. In addition, Mr. George A. Brown currently President and a Director of MacMillan will remain as a Director of the combined company and Mr. David Scott has agreed to act as a Special Advisor to the Board.

Mr. Geoff Burns previously served as President and CEO of Pan American from May 2004 until his retirement on December 31 of 2015. Mr. Daniel O'Flaherty has over ten years of investment banking and Executive Officer experience. Mr. O'Flaherty is currently an Executive and Director of Anthem United, and prior to that an Executive Vice President of Corporate Development of Esperanza Resources.

Mr. J.C. Stefan Spicer has over 30 years of investment industry experience and is the Chairman, President and CEO of Central Fund of Canada Limited. Dr. Christopher Barnes is a medical professional and experienced businessman who after 22 years of service, recently stepped down as Chief of Medicine for the Blind River Hospital in Ontario. Mr. Rob Doyle is the Chief Financial Officer of Pan American, a role which he has held for the past 12 years.

Mr. Christopher Emerson is Vice President of Business Development and Geology for Pan American. Mr. George A. Brown is currently the President and a Director of MacMillan. Mr. David Scott is Vice Chairman and Managing Director, CIBC Capital Markets.