Mag Silver investor Fresnillo ups holdings to 19.83%

Mag Silver Corp (C:MAG)
Shares Issued 49,155,566
Last Close 10/6/2008 $4.70
Tuesday October 07 2008 - News Release

Mr. Octavio Alvidrez reports

FRESNILLO PLC ACQUISITION OF SHARES IN MAG SILVER

On Oct. 7, Fresnillo PLC, the world's largest primary silver producer, announced it had acquired a further 2,512,600 common shares of Mag Silver Corp. through the facilities of the Toronto Stock Exchange at an average price of approximately $5 per share. These shares, together with shares already owned by Fresnillo total 9,314,877 or approximately 18.95 per cent of Mag Silver's common shares outstanding, based on Mag Silver's public disclosure.

Fresnillo with its affiliates, including Industrias Penoles, own a total 9,746,193 common shares, or 19.83 per cent Mag Silver's common shares outstanding. Subject to applicable law and market conditions, Fresnillo or its affiliates may acquire additional Mag Silver common shares.

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