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Qualifying Transaction Completed with a C$5.75 Million Financing; Agent Over-Subscription Rights Exercised

April 17, 2003

MEGA CAPITAL INVESTMENTS INC. (to be renamed MAG SILVER CORP.) (the "Company") announces that on April 15, 2003, the Company raised gross proceeds of $5,750,000 from the sale of 11,500,000 units at a price of $0.50 per unit. Each unit consists of one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one share at a price of $0.75 per share for a period of two years from closing. The financing was undertaken by Raymond James Ltd. and Pacific International Securities Inc. and included the exercise of a 15% greenshoe oversubscription option. The financing included significant participation from institutional investors. The Agents will be granted warrants to purchase up to 1,150,000 shares of the Company at the price of $0.50 exercisable for a period of two years from closing and Raymond James Ltd. received 10,000 shares in partial payment of services rendered in connection with the financing.

The prospectus issued in respect of the financing also qualified 2,400,000 common shares and nontransferable share purchase warrants to purchase up to 1,950,000 common shares of the Company issuable upon the exercise of special warrants issued by the Company in September and December, 2002, which shares and warrants have now been issued.

The Company previously announced the acquisition of beneficial ownership of 100% of Minera Los Lagartos, S.A. de C.V. ("Lagartos"), a Mexican company which is the holder of options to earn a 100% interest in three significant exploration properties in Mexico developed by IMDEX Inc and its Mexican affiliate Minera Cascabel S.A. de C.V. of Tucson, Arizona and Hermosillo Mexico. The prospectus also qualified 500,000 finders' fee shares issued in relation to these acquisitions.

The acquisition of Lagartos, together with the completion of the Company's prospectus and related financing serve as the Company's qualifying transaction pursuant to Policy 2.4 of the TSX Venture Exchange. As a result, the Company is no longer a Capital Pool Company effective April 22, 2003. Due to the holiday weekend, the Company's shares will resume trading on the TSX Venture Exchange on April 22, 2003 under its new name of MAG Silver Corp. and new symbol "MAG".

Proceeds of the financing will be used to fund exploration and drilling of three exploration properties in the historically important Fresnillo, Santa Eulalia and Batopilas districts of Mexico. The properties were acquired through IMDEX/Cascabel. Dr. Peter K.M. Megaw of IMDEX/Cascabel will continue to direct exploration of these properties.

1. Juanicipio, Zacatecas: Juanicipio lies 5 km from the head frame of Industrias PeƱoles' Fresnillo Mine, which currently produces 12% of the world's silver from high grade (23 oz/T Ag plus up to .1 oz/T Au) veins. Overall district production since 1560 is around 1 billion ounces of silver, with roughly 400 million ounces of that production coming since 1976 when the high-grade veins currently being mined were discovered. MAG's Juanicipio targets consist of a series of structures that are parallel to, and aligned with, major veins of the district. Six principal structures, that show strong geological, geochemical and geophysical resemblance to the producing veins, have been identified and permitted for immediate drilling. MAG hopes to finalize a drill contract and commence road building and drilling by the end of April.

2. Guigui, Chihuahua: Guigui is a drill-permitted exploration project focused on locating the source zone of the Santa Eulalia District. Santa Eulalia is a large carbonate replacement deposit and has produced over 450,000,000 ounces of silver (average grade 11 oz/T) and 8,000,000 tons of lead and zinc since the early 1700's from what appear to be the outer zones of the system. The source zone is covered, but geologic, mineralization, and geochemical zoning features, plus geophysical signatures, indicate its location. Advanced fieldwork, preliminary to drilling the targets in the third quarter of 2003, will commence in May.

3. Don Fippi, Chihuahua: MAG's Don Fippi property covers most of the historic Batopilas District, which produced over 300,000,000 ounces of silver from high grade (>2% average) native silver ores between 1630 and 1913, when it was abruptly shut down by the Mexican Revolution. The land has only recently been reconsolidated for the first time since shut down and the first modern exploration program to target the district will commence in May. MAG expects the project will be permitted and ready to drill by the third quarter of 2004.

The Company also announces that Robert Thornton has resigned as a director, R. Michael Jones and George S. Young have become directors of the Company, and George S. Young has been appointed as President and CEO. Mr. Jones is President and CEO of Platinum Group Metals Ltd. ("PTM"), a company listed on the TSX Venture Exchange with advanced platinum exploration properties in South Africa and Canada. PTM will receive 200,000 shares of the finder's fee described above in consideration of Mr. Jones' work in establishing MAG. Mr. Jones has significant experience in the management and financing of mining companies. Mr. Young is an attorney and engineer by profession with significant experience in the acquisition, financing, and development of mining properties and the financing and management of mining companies. His previous experience includes positions as President of Oro Belle Resources Corporation and General Counsel of Bond International Gold, Inc.

On behalf of the Board of
(to be renamed MAG Silver Corp.)
"George S. Young"
President and Director

For further information on behalf of Mega Capital Investments Inc. (to be renamed MAG Silver Corp.)
contact George S. Young
Website: www.magsilver.com
Email: info@magsilver.com
Phone: (604) 630-1399
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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