MAG Silver Corp. provided an update on its exploration projects and on its 2012 exploration program.

MAG and Fresnillo plc, as the Juanicipio Joint Venture, have approved a significant increase (89%) in the drilling program from 2011 to 2012 focusing on the potential for new veins. MAG will be involved in over 58,000 metres of diamond drilling on five separate projects including the Juanicipio Joint Venture and Cinco de Mayo project area.

The continuing engineering study (Updated Preliminary Economic Assessment) on the Valdecañas Vein, which is anticipated in Q1, 2012, is part of the approved budget.

At the same time, on MAG's 100 percent owned Cinco D Mayo property drilling is to be focused on delineating the high grade silver/lead/zinc mineralized system at Cinco Ridge/Jose Manto over a 4,000 metre strike length. Companywide, MAG's board of directors have approved a 2012 exploration budget of $10.87 million. This budget includes $3.80 million for MAG's 44% share of the Minera Juanicipio board approved preliminary 2012 budget (100%) of US$8.5 million, an increase of US$4 million over the 2011 budget. In addition, MAG will spend an additional $840,000 for its own direct project oversight and parallel studies, resulting in a total MAG 2012 budget for Juanicipio of $4.64 million.

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