NEWS RELEASE.

August 23, 2012: Vancouver, B.C. – MAG Silver Corp. (Stock Profile – TSX:MAG & NYSE MKT:MVG) announced a private placement offering of common shares at a per share price of C$9.40 (the “Offering”) for gross proceeds of approximately C$25 million. The common shares will be subject to a four month hold period. The Offering is expected to close on or about September 5, 2012.

The Company intends to use the net proceeds from the Offering to fund 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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