MAG Silver Closes C$33.1 Million Private Placement

NEWS RELEASE.

September 5, 2012: Vancouver, B.C. – MAG Silver Corp. (Stock Profile – TSX:MAG & NYSE MKT:MVG) announced it has  closed its private placement offering of 3,526,210 common shares at a price of $9.40 per share for gross proceeds of approximately $33.1-million. The common shares issued are subject to a four-month hold period under applicable Canadian securities laws.

The company intends to use the net proceeds from the offering to finance its share of the recently announced permitting and underground development program for Juanicipio, advancement of Cinco de Mayo including continued exploration as well as generation of an initial resource estimate, and for general corporate purposes.

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