Acquisition of shares in MAG Silver

8 Oct 2008 07:00



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8 October 2008

Fresnillo plc acquisition of shares in MAG Silver

Toronto, London, Mexico City: Fresnillo plc, the world’s largest primary silver producer, announces that on 7 October it acquired a further 2,512,600 common shares of MAG Silver Corp (TSX: MAG, AMEX: MVG) (“MAG Silver”) through the facilities of the Toronto Stock Exchange at an average price of approximately CDN$5.00 per share. These shares, together with shares already owned by Fresnillo plc total 9,314,877 or approximately 18.95% of MAG Silver’s common shares outstanding, based on MAG Silver’s public disclosure. Fresnillo plc with its affiliates, including Industrias Peñoles, own a total 9,746,193 common shares or 19.83% of MAG Silver’s common shares outstanding. Subject to applicable law and market conditions, Fresnillo or its affiliates may acquire additional MAG Silver common shares. For further information contact: Fresnillo plc London Office Octavio Alvidrez, Head of Investor Relations Tel: +44(0)20 7399 2470 Mexico City Office Gabriela Mayor Tel: +52555 279 3203 Brunswick Tel: +44(0)20 7404 5959 Patrick Handley Carole Cable