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MAG Silver Grants Options

January 24, 2005

MAG Silver Corp. (TSX-V:MAG) announces that it has granted, subject to any necessary regulatory and shareholder approvals, incentive stock options to purchase up to a total of 175,000 shares to two of its directors. The options are exercisable for a term of five years at the price of $1.06 per share

About MAG Silver Corp.

MAG Silver, based in Vancouver Canada, is focussed on exploration targets in the Mexican Silver Belt that are of interest at any conceivable silver price, in districts with known large-scale production.

On behalf of the Board of
R. Michael Jones

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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.

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