MAG Silver Corp. (TSX:MAG) (NYSE MKT:MVG) announces that it has completed its previously announced bought deal financing and has issued 8,905,000 common shares at US$7.30 per share, for gross proceeds of US$65,006,500. The Offering was conducted by a syndicate of underwriters led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and Raymond James Ltd. and including Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., TD Securities Inc., Cormark Securities Inc., Desjardins Securities Inc. and PI Financial Corp. The Underwriters reserve the right to exercise all or any portion of an over-allotment option of 1,335,750 common shares at any time within 30 days following closing.

The Company intends to use the net proceeds of the Offering (i) to fund development and exploration expenditures at the Juanicipio Project and (ii) for working capital and general corporate purposes.

The common shares were offered in each of the provinces of Canada, other than Quebec, by way of a prospectus supplement dated February 23, 2016 to the Company’s short form base shelf prospectus dated January 19, 2016, and in the United States pursuant to a prospectus supplement dated February 23, 2016 to the base shelf prospectus contained in the Company’s registration statement on Form F-10, in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.

The Company has filed a registration statement on Form F-10 with the SEC for the Offering to which this communication relates. Before you invest, you should read the Supplement and other documents the Company has filed with the SEC for more complete information about the Company and this Offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov or on the SEDAR website at www.sedar.com. Alternatively, the Company, any Underwriter or any dealer participating in the Offering will arrange to send you the Supplement or you may request it from the Corporate Secretary of MAG Silver Corp. at Suite 770, 800 West Pender Street, Vancouver, British Columbia, Canada, V6C 2V6, telephone (604) 630-1399.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful.

About MAG Silver Corp.

MAG Silver Corp.  is focused on advancing and exploring high grade district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the silver mining industry. Currently, we are developing the underground decline towards the high grade Valdecañas and Juanicipio silver veins in Zacatecas State, all within the joint venture between MAG Silver (44%) and Fresnillo PLC (56%). In addition, MAG is conducting ongoing exploration at the Juanicipio Project and on its wholly-owned Guigui project, while concurrently working to regain surface access to its 100% owned Cinco de Mayo property in Chihuahua State.