MAG Silver Corp. ("MAG") announces that recent diamond drilling confirms the discovery of a new high grade structure on the Juanicipio Joint Venture property. The tentatively named "Las Venadas Structure" lies approximately mid-way between the Valdecañas and Juanicipio Veins. Discovery of this new structure reinforces MAG's long-standing expectation that potential remains high for multiple vein discoveries within the Juanicipio Project area.

Joint Venture contractor and partner, Fresnillo plc ("Fresnillo"), reports that Drill Hole 43P has a structure intercept of 3.82 metres (true width) grading 491 grams per ton (g/t) silver (14.3 ounces per tonne (opt)) and 2.69 g/t gold, with negligible lead and zinc. Within the intercept is a higher grade zone reporting 1.52 metres (true width) grading 965 g/t silver (28.1 opt) and 6.39 g/t gold.

A further bore hole, Hole 44P, has cut 2.65 metres of visibly mineralized quartz structure deeper in the same section. Assays are pending for Hole 44P.

Collectively these three bore holes confirm the discovery of a new structure on the Juanicipio property. The significance of this new structure remains to be determined by further drilling. Initial indications are that the discovery of this third structure on the property is an important event in the evolution of the project.

Table 1: Assay Results "Las Venadas Structure"

The first hole into this south dipping structure was Hole 37P (in 2010) which cut a structure grading 490 g/t silver (14.3 opt), 0.94 g/t gold and negligible base metal values over an estimated 2.75 metre true width. Hole 43P, reported herein, intersected this new structure approximately and 100 metres deeper than the 37P intercept. Hole 44P was drilled on the same section as 43P to intersect the new structure 100 metres deeper than hole 43P and it intersected a quartz structure 2.65 metres wide containing visible acanthite (silver sulphide), pyrite, arsenopyrite and fluorite starting at 594.85 metres. The three holes mentioned are in the same section.

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Drilling on the Juanicipio property continues with 8 drills currently active.

The Joint Venture is operated through Minera Juanicipio S.A. de C. V., a Mexican entity owned 44% by MAG Silver and 56% by Fresnillo, who is also the project manager. The project is located in Zacatecas State, Mexico.

Quality Assurance and Control: The samples are shipped directly in security sealed bags to ALS-Chemex Laboratories preparation facility in Guadalajara, Jalisco, Mexico (Certification ISO 9001). Samples shipped also include intermittent standards and blanks. Pulp samples are subsequently shipped to ALS-Chemex Laboratories in North Vancouver, Canada for analysis. Two extra pulp samples are also prepared and are analyzed (in progress) by SGS Laboratories (Certification ISO 9001) and Inspectorate Laboratories (Certification ISO 9001) (or other recognized lab). The bulk reject is subsequently sent to CIDT (Center for Investigation and Technical Development) of Peñoles in Torreon, Mexico for metallurgical testing where a fourth assay for each sample is analyzed and a calculated head grade is received on the basis of a concentrate balance. The CIDT also does a full microscopic, XRF and XRD mineralogical analysis.

Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the remaining technical information in this release. Dr. Megaw has a Ph.D. in geology and more than 20 years of relevant experience focused on silver and gold mineralization, and exploration and drilling in Mexico. He is a certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona registered geologist (ARG 21613). Dr. Megaw is not independent as he is a Director and Shareholder of MAG and is the vendor of projects to MAG whereby he may receive additional shares. Dr. Megaw is satisfied that the results are verified based on an inspection of the core, a review of the sampling procedures, the credentials of the professionals completing the work and the visual nature of the silver and base metal sulphides within a district where he is familiar with the style and continuity of mineralization.

About the Joint Venture

The 8,000 hectare Juanicipio property is located in Zacatecas State, Mexico just outside the mining town of Fresnillo. The Fresnillo mine area has been in continuous production since the 1500s, and today is host to the world's largest producing primary silver mine operated by Fresnillo. The joint venture is operated through Minera Juanicipio S.A. de C. V., a Mexican entity owned 44% by MAG Silver and 56% by Fresnillo, which operates the delineation and exploration program on behalf of the joint venture company.

About MAG Silver Corp. (www.magsilver.com)

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 moly-gold discovery at its 100% owned Cinco de Mayo property in Chihuahua State. MAG and Fresnillo plc are jointly developing the Valdecañas Deposit on the Juanicipio Joint Venture in Zacatecas State. MAG is based in Vancouver, British Columbia, Canada. Its 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 CEO