MAG Silver Options Salamandra Project From Canasil

MAG Silver Options Salamandra Project From Canasil 
To earn up to 70% interest in significant Carbonate Replacement
system ("CRD") in Durango, Mexico 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/28/13 -- MAG
Silver Corp. (TSX:MAG) (NYSE MKT:MVG) ("MAG" or the "Company")
announces that the company has entered into an option agreement with
Canasil Resources Inc. ("Canasil") whereby the Company can earn up to
a 70% interest in Canasil's 14,719 hectare Salamandra property
located in Durango State, Mexico. The project is strategically
located along the overlap between the "Mexican Carbonate Replacement
Belt" and the "Fresnillo Silver Trend" often referred to as Mexico's
Premier Silver-Gold district. Salamandra lies on trend with a number
of important operating mines and recent new discoveries. Salamandra
is only 80 kilometres northwest of the San Martin-Sabinas Mining
District, the largest underground silver-copper-zinc deposit in
Mexico (owned by Grupo Mexico and Penoles) and Salamandra boasts
remarkably similar geology although exposed at a slightly higher
stratigraphic level.  
"Salamandra is exceptionally well located geologically and shows more
of the hallmark features of a major CRD system than our Cinco de Mayo
property did when we started there," said Dan MacInnis, President and
CEO of MAG Silver. "We've had our eyes on Salamandra for nearly four
years and are pleased that Canasil has finally given us the
opportunity to bring our expertise on CRD systems to bear on this
exciting project. Building on Canasil's technical foundation should
allow us to bring Salamandra to drill-readiness quickly."  
To complete the initial earn-in of a 55% interest in the Salamandra
project, MAG must complete CAD$5,500,000 in exploration expenditures
on the property and CAD$750,000 in cash payments to Canasil over a
period of four years. An initial payment of CAD$150,000 was paid upon
signature of the binding letter agreement and a first year work
expenditure of CAD$1,000,000, including a minimum of 3,000 metres of
drilling, is a firm commitment. All other work commitments escalate
annually and are optional as are the cash payments. At MAG's option
it can earn an initial 55% interest and form a 55 / 45 joint venture
with Canasil, or earn a cumulative interest of 70% (an additional
15%) by producing either a feasibility study or spending an
additional CAD$20M over another four year period. At that point a 70
/ 30 joint venture would be formed, subject to normal dilution
provisions whereby a subsequent 15% interest by either party will
convert to a 2.5% net smelter royalty.  
About Salamandra: 
The Salamandra project covers 14,719 hectares (36,371.44 acres) and
is located 35 kilometres northeast of the city of Durango in the El
Guadiana valley in Durango State. Access is excellent from the city
of Durango via paved and gravel roads. Exploration results to date at
the Salamandra project indicate the potential for a large
intrusive-related, carbonate-hosted massive sulphide skarn/manto
replacement system (CRD). The mineralized system is centered on a
domal structure related to an intrusive complex that occupies the
center of the property. Widespread silver-copper-antimony-arsenic
surface anomalies with peripheral lead and zinc anomalies are found
over a very large area. Extensive skarn and hornfels, intrusive and
mineralized breccia dikes, and well mineralized fracture/veins
represent a few of the hallmark CRD features that are present. Prior
drilling cut high-grade zinc and silver mineralization within
hornfels which is believed to overlie the same thick limestone host
rock section that hosts the nearby San Martin-Sabinas, La Parilla and
La Colorada CRD mines.  
Canasil previously drilled 12 diamond drill holes in a limited part
of the property for a total of 3,595 metres.  
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. 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 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
also jointly developing the Valdecanas Vein 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 MKT under the symbol MVG. 
On behalf of the Board of 
MAG SILVER CORP. 
Dan MacInnis,CEO & Director 
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. 
To view the Location Salamandra Project map, please visit the
following link: http://media3.marketwire.com/docs/528mag.pdf  
Neither the Toronto Stock Exchange nor the NYSE MKT has reviewed or
accepted responsibility for the accuracy or adequacy of this press
release, which has been prepared by management. 
Contacts:
MAG Silver Corp.
Michael Curlook
VP Investor Relations and Communications
(604) 630-1399 or Toll Free: (866) 630-1399
(604) 681-0894 (FAX)
info@magsilver.com
www.magsilver.com