Compelling New 2km-Long Target with Links to Known Outcropping Veins

Disciplined Capital Allocation fueling Growth and Shareholder Value: MAG is committed to a prudent and disciplined approach to capital allocation. Juanicipio’s robust cash flow empowers us to execute on the dual mandate of: advancing our greenfield growth pipeline while maintaining a strong financial foundation and actively evaluating opportunities to enhance shareholder value through capital returns. Our exploration investments are guided by rigorous technical analysis, with capital allocated prudently to maximise discovery potential. The Company continues to actively evaluate and pursue opportunities to optimise its capital structure and return capital to shareholders.

Larder Project – Key Highlights

• Validated Theory: Drilling at the Cadillac-Larder Break (“CLB”) has successfully extended the Cheminis and Bear zones to depths of 900 metres ( 10.2 g/t gold over 6.3   metres) and 1,200 metres ( 42.1 g/t gold over 1.5   metres), respectively, confirming the theory of increased grade and width with depth.
• New Regional Discoveries: Testing of numerous regional targets included the Timiskaming conglomerate (“Long Conglomerate”), where 3.2 g/t gold over 10.0 metres including 8.2 g/t gold over 1.0 metres was intercepted.
• Strategic Land Acquisition: MAG added the highly prospective Goldstake Property, doubling the project’s land area. This acquisition builds on historic high-grade intercepts (though unverified) and is further complimented by new high-grade grab (up to 32.1 g/t gold) and channel samples, fast-tracking the Instant Pond and F Zone prospects to drill-ready status.

2025 Outlook: Interpretation of the extensive 2024 exploration program is in its final stages and is guiding targeting for a focused 2025 drill program expected to commence in the second half of the year. Planned drilling will target :

• Follow-up testing: Drilling is planned to follow-up on numerous targets in newly discovered mineralization on 2 ^nd and 3 ^rd order structures, including the Long Conglomerate and the Swansea area.
• Initial Drilling at Goldstake: Drill testing the Instant Pond and F Zone prospects below the encouraging surface samples taken in 2024 and historic shallow drill intercepts.
• Fernland: Potential shallow to mid-level (300 – 600 metre vertical depth) testing of the Fernland deposit which has only seen relatively shallow historic drilling and is open to depth. It is the last of the three well defined zones on the CLB that still required testing and confirmation by MAG.

Deer Trail Project – Key Highlights:

• Large Expansion of the Carissa Skarn Discovery: Step-out drilling has significantly expanded the 200 – 250-metre-thick Carissa skarn discovery to a 400 – 700 metre area where thick sections of copper-silver-zinc mineralisation are hosted in hundreds of metres of pervasive marble and skarn altered carbonates, strongly suggestive of the hypothesised large-scale metal source located to the west.
• High-Grade Extension…