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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 3, 2010) - MAG Silver Corp. (TSX:MAG)(NYSE Amex:MVG)
("MAG" or "the Company") is pleased to announce the
appointment of Michael Petrina, P.ENG, MBA,
as Vice President Operations of the Company.
Mr. Petrina brings over 25 years of extensive
experience in operations, engineering, mine development, financial modelling and acquisition analysis, and is a past
technical advisor and engineering consultant for numerous mining
companies. He is a Professional Engineer (P.ENG, Mining) registered in
British Columbia and holds a MBA from the University of Athabasca. Mr. Petrina recently held the position of Vice
President, Mining for Hawthorne Gold Corp. and has worked directly for
or as a consultant for Candente Resource
Corp., Adriana Resources Ltd., Adanac
Molybdenum Corporation, Pan American Silver Corporation and Breakwater
Resources Ltd.
Dan McInnis, President and CEO of the Company stated, "Michael Petrina, as Vice President Operations, will play an
integral role in taking MAG Silver to the next level. We have begun a
prefeasibility study on the Valdecanas Vein
and are advancing the Pozo Seco molybdenum/gold deposit. Mike's experience and
expertise will go a long way to provide MAG the direction needed to
move forward. We expect Mike to also play a key role in our strategic
initiatives as we look to grow the business."
About MAG Silver Corp.
MAG is focused on district scale projects located within the Mexican
Silver Belt. Our mission is to become one of the premier companies in
the silver mining industry. MAG is conducting ongoing exploration of
its portfolio of 100% owned properties in Mexico including a silver,
lead and zinc discovery and a molybdenum-gold discovery at its 100%
owned Cinco de Mayo property in Chihuahua
State. MAG and Fresnillo plc are jointly
delineating a significant new silver vein discovery on the Juanicipio Joint Venture in Zacatecas State. The
total contained metals at the Juanicipio
property on a 100% project basis in the Indicated Resource are 83
million ounces of silver, 210,000 ounces of gold and 155 million pounds
of lead and 269 million pounds of zinc. The Inferred Resources contain
an additional 106 million ounces of silver, 356,000 ounces of gold and
301 million pounds of lead and 498 million pounds of zinc. MAG is based
in Vancouver, British Columbia, Canada. MAG's common shares trade on
the TSX under the symbol MAG and on the NYSE-Amex under the symbol MVG.
On behalf of the Board of
MAG SILVER CORP.
Dan MacInnis, President and Chief Executive
Officer
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the US
Private Securities Litigation Reform Act of 1995. All statements in
this release, other than statements of historical facts are forward
looking statements, including statements that address future mineral
production, reserve potential, exploration drilling, exploitation
activities and events or developments. Forward-looking statements are
often, but not always, identified by the use of words such as
"seek", "anticipate", "plan",
"continue", "estimate", "expect",
"may", "will", "project",
"predict", "potential", "targeting",
"intend", "could", "might",
"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 the expectations expressed 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 in the forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include, but are not limited to, changes in
commodities prices, changes in mineral production performance,
exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business
conditions, political risk, currency risk and capital cost inflation.
In addition, forward-looking statements are subject to various risks,
including that data is incomplete and considerable additional work will
be required to complete further evaluation, including but not limited
to drilling, engineering and socio-economic studies and investment. The
reader is referred to the Company's filings with the SEC and Canadian
securities regulators for disclosure regarding these and other risk
factors. There is no certainty that any forward looking statement will
come to pass and investors should not place undue reliance upon
forward-looking statements.
Please Note:
Investors are urged to consider closely the disclosures in MAG's annual
and quarterly reports and other public filings, accessible through the
Internet at www.sedar.com and
www.sec.gov/edgar/searchedgar/companysearch.html.
Neither the Toronto Stock Exchange nor the New York Stock Exchange Alternext US LLC has reviewed or accepted
responsibility for the accuracy or adequacy of this press release,
which has been prepared by management.
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