Vancouver, B.C. MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG”, or the “Company”) announces the Company’s unaudited consolidated financial results for the three months ended March 31, 2024 (“Q1 2024”). For details of the unaudited condensed interim consolidated financial statements of the Company for the three months ended March 31, 2024 (“Q1 2024 Financial Statements”) and management’s discussion and analysis for the three months ended March 31, 2024 (“Q1 2024 MD&A”), please see the Company’s filings on the System for Electronic Document Analysis and Retrieval Plus (“SEDAR+”) at (www.sedarplus.ca) or on the Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) at (www.sec.gov).

All amounts herein are reported in $000s of United States dollars (“US$”) unless otherwise specified (C$ refers to Canadian dollars).

KEY HIGHLIGHTS (on a 100% basis unless otherwise noted)

MAG reported net income of $14,895 ($0.14 per share) driven by income from Juanicipio (equity accounted) of $19,244, and adjusted EBITDA[1] of $32,447 for the three months ended March 31, 2024.
A total of 325,683 tonnes of ore at a silver head grade of 476 grams per tonne (“g/t”) (equivalent silver head grade[2] 713 g/t), was processed at Juanicipio during Q1 2024.
Juanicipio achieved silver production and equivalent silver production2 of 4.5 and 6.4 million ounces, respectively, during Q1 2024.
Juanicipio delivered robust cost performance with cash cost1 of $2.50 per silver ounce sold ($8.66 per equivalent silver ounce sold[3]), and all-in sustaining cost1 of $6.11 per silver ounce sold ($11.22 per equivalent silver ounce sold3) in Q1 2024.
Juanicipio generated strong operating cash flow of $42,521 and free cash flow1 of $27,820 in the first quarter of 2024 after tax payments of $25,772.

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https://magsilver.com/2024/nr24-07-financial-release-q1-2024-final-pdf/