MAG Silver Corp COVID-19 Update
April 22 2020 - 6:29PM
MAG Silver Corp. (TSX / NYSE American: MAG) MAG
Silver reports that the Federal Government of Mexico has issued an
administrative order for the temporary suspension of all
“non-essential activities” until May 30, 2020 as part of its
nationwide effort to slow the spread of the virus.
The Juanicipio Project operator, Fresnillo plc
(“Fresnillo”), has communicated to MAG that they have been in
regular consultation with Mexican Government officials to determine
the most appropriate compliance approach while attempting to
minimize the overall impact on project development.
To date, surface exploration and construction
work has been temporarily stopped, and the underground operation
has been temporarily reduced to a minimum working level under rigid
hygienic protocols.
"The health and safety of ALL people is of
paramount importance in the face of this worldwide crisis” said
George Paspalas, President and CEO of MAG Silver. “We applaud
and support the Mexican Government’s resolve to affect the spread
of COVID-19."
About MAG Silver Corp. MAG
Silver Corp. is a Canadian advanced stage development and
exploration company focused on becoming a top-tier primary silver
mining company, by exploring and advancing high-grade, district
scale, silver-dominant projects in the Americas. Its principal
focus and asset is the Juanicipio Project (44%), being developed in
a Joint Venture with Fresnillo (56%). The Juanicipio Project is
located in the Fresnillo Silver Trend in Mexico, the world's
premier silver mining camp. Fresnillo as operator, is
currently constructing and developing the surface and underground
infrastructure on the property to support a 4,000 tonnes per day
mining operation. As well, an expanded exploration program is
in place at Juanicipio with multiple highly prospective targets
across the property.
Neither the Toronto Stock Exchange nor the NYSE
American has reviewed or accepted responsibility for the accuracy
or adequacy of this press release, which has been prepared by
management.
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 LEI:
254900LGL904N7F3EL14
For further information on behalf of MAG Silver Corp.
Contact Michael J. Curlook, VP Investor Relations and Communications
Phone: (604) 630-1399
Toll Free: (866) 630-1399
Website: www.magsilver.com
Email: info@magsilver.com
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