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MAG Silver Announces $6.5 Million Private Placement

November 30, 2005

Vancouver, B.C. – November 30, 2005 – MAG Silver Corp. (the "Company") today announced that it has entered into an agreement with an agent (the "Agent") to raise up to $6,500,000 by way of a private placement.

The agreement provides for the placement of up to 6,500,000 units (the "Units") priced at $1.00 per Unit, with each Unit consisting of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one common share of the Company for 18 months from the closing date at a price of $1.35. The Company has also granted the Agent an over-allotment option exercisable at any time prior to closing for up to 1,500,000 additional Units.

In consideration for acting as Agent, the Company will pay a cash commission of 7.0% of the gross proceeds of the offering on the closing of the offering. In addition, the Company shall issue to the Agent on the closing of the offering, compensation options equal in number to 7.0% of the number of Units sold under the offering including any units sold pursuant to the over-allotment option, which compensation options will each entitle the Agent to purchase one common share of the Company at an exercise price equal to $1.35 for a period of 18 months from closing. The Company will also pay the Agent a corporate finance fee of $15,000.

Proceeds of the offering will be used for general working capital and to finance mineral exploration and diamond drilling on the Company's portfolio of Mexican silver properties. This is to include diamond drilling at Lagartos NW and Lagartos SE in the Fresnillo silver mine district and to continue drilling identified targets in the historical past producing silver district at Batopilas.


About MAG Silver Corp.
MAG is a silver exploration company focused on projects located within the Mexican Silver Belt. The MAG Silver land inventory is located in mining districts with historical and ongoing large-scale high-grade silver production. MAG's exploration efforts are engaged in the search for multi-million ounce silver deposits on a district scale. We are committed to discover silver deposits of size and grade that are able to withstand and overcome fluctuations in commodity prices. Our mission is to become one of the premiere silver explorers in the Silver Mining Industry. MAG is based in Vancouver, British Columbia, Canada and trades on the TSX-V as MAG.

On behalf of the Board of
MAG Silver Corporation:

"Dan MacInnis"
President and CEO

For further information on behalf of MAG Silver Corp. contact Gordon Neal
Website: www.magsilver.com
Phone: (604) 630-1399
Toll free: (866) 630-1399
Email: info@magsilver.com
Fax: (604) 484-4710

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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