MAG Appoints Peter Barnes as Board Chair
June 22 2020 - 9:00AM
MAG Silver Corp. (TSX / NYSE American:
MAG) (“MAG” or the “Company”) is pleased to announce that
Peter Barnes has been appointed as the Chair of the Board of
MAG. Mr. Barnes first joined the board in late 2012 and has
since chaired various Board Committees for MAG, including the Audit
Committee and the Governance and Nomination Committee. He has
extensive experience in the metals and mining industry, and in
2004, was co-founder of Wheaton Precious Metals (formerly, Silver
Wheaton Corp) and CEO from 2006 to 2011, and prior to that was CFO
of Goldcorp Inc. from 2005 to 2006. He is a Fellow of the Chartered
Professional Accountants of British Columbia and a Member of the
Institute of Corporate Directors. He has also served as a member of
the Board of the Silver Institute.
Mr. Barnes replaces Jonathan Rubenstein who did
not run for re-election at the Company’s Annual General and Special
Meeting held June 18, 2020 (see Press Release June 19, 2020).
On behalf of the Company and its shareholders, Mr. Barnes extends a
special thank you to Mr. Rubenstein for his unwavering dedication
and many contributions to the Company through his years of service
as Chair of MAG.
“Under Jonathan’s leadership, the foundation was
laid for the Company to make the transition into production,” said
Peter Barnes. “I look forward to serving as MAG’s new Board Chair,
as the Company becomes a significant silver producer.”
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. The
Juanicipio Joint Venture is currently constructing and developing
the surface and underground infrastructure on the property to
support a 4,000 tonnes per day mining operation, with the
operational expertise of Fresnillo, the project operator. 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; the use of the net
proceeds from the private placement is subject to change; 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 Website: www.magsilver.com
Toll Free: (866) 630-1399 Email: info@magsilver.com
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