IRW-PRESS: MAG Silver Corp.: MAG Silver Announces Preliminary 2024 Guidance for Juanicipio
March 5, 2024 – Vancouver, BC MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, “MAG Silver” or the “Company” – https://www.commodity-tv.com/ondemand/companies/profil/mag-silver-corp/) there is a announced preliminary 2024 guidance for the high-grade Juanicipio mine, jointly owned by Fresnillo plc (“Fresnillo”) (56%) and MAG (44%).
Highlights:
– Robust silver grade: According to Fresnillo, the project operator, silver grades at Juanicipio are expected to be between 380 and 420 grams per tonne (g/t) by 2024, representing significant silver production potential.
– Nominal capacity: The plant is expected to operate at the nominal capacity per operating day and an effective utilization of 91%, ensuring consistent and efficient production.
– Technical Report on Track: MAG remains on schedule to publish its updated technical report by the end of Q1 2024, which will provide a more definitive forecast and solidify our outlook for the Juanicipio Mine
“After a very successful start-up and ramp-up period in 2023, the Juanicipio Mine is now in continuous operation with robust silver grades and the operation is beginning to benefit from increasing efficiencies,” said George Paspalas, President and CEO of MAG. “With the upcoming release of our updated technical report, we can get an even clearer picture of the exciting future of Juanicipio and MAG Silver.”
About MAG Silver Corp. (www.magsilver.com)
MAG Silver Corp. is a growth-oriented Canadian exploration company focused on developing high-grade precious metals projects in the Americas. MAG Silver is becoming a world-class primary silver mining company through its (44%) joint venture interest in the 4,000 tonne per day (tpd) Juanicipio mine operated by Fresnillo plc (56%). The mine is located on the Fresnillo Silver Trend in Mexico, the world’s leading silver mining camp, where, in addition to underground production and processing of high-grade mineralized material, an expanded exploration program is underway targeting several highly prospective targets. MAG Silver is also conducting multi-phase exploration programs at its 100% owned Deer Trail Project in Utah and its 100% owned Larder Project in the historically prolific Abitibi region of Canada.
For further information on behalf of MAG Silver Corp.
Contact Michael J. Curlook, Vice President, Investor Relations and Communications
Phone: +1(604) 630-1399
Toll Free: (866) 630-1399
Email: [email protected]
Website: www.magsilver.com
In Europe:
Swiss Resource Capital AG
Jochen Staiger & Marc Ollinger
www.resource-capital.ch
Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepts responsibility for the accuracy or adequacy of this press release prepared by management.
This press release contains certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 or “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). All statements in this press release that are not historical facts are forward-looking statements, including statements regarding: preliminary estimates of production and operations at Juanicipio in 2024, including expected silver head grade and processing rates of development material; the publication of an updated technical report by the end of the first quarter of 2024 regarding the Juanicipio Mine and the expected content and benefits of such report; future mineral production and events or developments. Forward-looking statements often, but not always, use words such as “seek,” “anticipate,” “plan,” “continue,” “estimate,” “expect,” “may,” “will,” “project.” , “predict”, “potential”, “target”, “intend”, “could”, “should”, “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although MAG believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those reflected in the forward-looking statements. Factors that could cause actual results to differ materially from those contained in the forward-looking statements contained herein include, but are not limited to, risks associated with controlling Juanicipio’s cash flows and operations through a joint venture where the company is not an operator; there is no guarantee as to the surface rights to the Juanicipio Property or as to the Company’s ability to obtain and maintain all necessary licenses and permits that may be required to conduct its business at the Juanicipio Mine; risks associated with maintaining a positive relationship with the communities in which the Company operates; risks associated with the Company’s decision to participate in the processing and production of the Juanicipio Mine; risks related to Juanicipio’s limited operating history; geotechnical risks associated with the operation of the Juanicipio Mine and associated structures; labor law risks; changes in applicable laws; risks relating to ownership, challenges to ownership or potential litigation in Juanicipio; the continued availability of capital and financing and general economic, market or business conditions; political risks; currency risks; Inflation in the cost of capital and those other risks disclosed in MAG Silver’s filings with the Securities Exchange Commission and Canadian securities regulators. All forward-looking statements contained herein are made as of the date of this document, and MAG Silver undertakes no obligation to update any forward-looking statements contained herein. There can be no certainty that any forward-looking statement will occur and investors should not place undue reliance on any forward-looking statement.
Please note: Investors are urged to carefully review the information contained in MAG’s annual and quarterly reports and other public filings available on the Internet at www.sedarplus.ca and www.sec.gov.
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