 MAG Silver Corp. TSX NYSE American: MAG MAG MAG is pleased to report that it has completed its previously announced non-brokered private placement offering of 4,528,302 common shares of MAG the Common Shares to Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially controlled by him, at a price of C13.25 per Common Share for gross proceeds of C60,000,002 the Offering. MAG intends to use the net proceeds of the Offering to fund exploration and development of the Juanicipio Project and for working capital and general corporate purposes. The securities issued pursuant to the Offering will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from the date of closing of the Offering. 