Mag Silver shareholders re-elect seven directors

2014-06-25 16:34 ET - News Release

Mr. George Paspalas reports

MAG SILVER REPORTS VOTING RESULTS FROM THE AGSM

At the annual general and special meeting (AGSM) held on June 24, 2014, Mag Silver Corp.'s shareholders approved by majority to decrease the size of the board to seven, elect all seven directors standing for re-election, reappoint Deloitte LLP as the company's auditor and approve the company's equity compensation plans.

The board of directors wishes to extend its gratitude to Dr. Peter Megaw, Eric Carlson and Frank Hallam, all of whom did not stand for re-election as directors for the ensuing year. Each of these directors has been instrumental in Mag's successes to date, and, in particular, in the initial recognition of the value of property positions assembled at Juanicipio and elsewhere by the company. Jonathan Rubenstein, chairman of Mag, said: "These individuals have been an integral part of the early and continued growth of the company, and our shareholders have benefited greatly from their expertise, perseverance and commitment. The board thanks them for their dedicated years of service, and wishes each of them continued success in their future endeavours." The company will maintain its close relationship with Dr. Megaw, who will continue to lead its exploration efforts, and Mr. Hallam will remain accessible to the Mag Silver finance committee.

Detailed results of the votes held by ballot at the AGSM are set out in the attached table.

                        Total votes                           Votes        %
Nominee                        cast    Votes for   % for   withheld withheld

George N. Paspalas       35,831,724   35,659,529   99.52    172,195     0.48
Daniel T. MacInnis       35,831,724   35,561,749   99.25    269,975     0.75
Jonathan A. Rubenstein   35,831,724   35,538,010   99.18    293,714     0.82
Richard M. Colterjohn    35,831,724   35,716,871   99.68    114,853     0.32
Derek C. White           35,831,724   31,866,236   88.93  3,965,488    11.07
Richard P. Clark         35,831,724   29,940,359   83.56  5,891,365    16.44
Peter D. Barnes          35,831,724   35,643,406   99.47    188,318     0.53
Seconded amended and                                                        
restated stock option                                                      
plan                     45,577,917   32,481,187   71.27 13,096,730    28.73
Share unit plan          45,577,917   35,326,346   77.51 10,251,571    22.49
Directors' deferred                                                         
share unit plan          45,577,917   35,340,665   77.54 10,237,252    22.46

George Paspalas, chief executive officer and president of Mag Silver, extends his thanks to the shareholders of the company for their show of support.