Pan American Silver and MAG Silver Receive COFECE Approval for Acquisition

Pan American Silver and MAG Silver have received approval from the Mexican Federal Economic Competition Commission (COFECE) for their acquisition. The acquisition is expected to be completed on September 4. Registered holders of MAG shares must elect to receive either $20.54 in cash or $0.0001 in cash and 0.755 of a Pan American share for each MAG share held. The total consideration will consist of $500M in cash and the remaining in Pan American shares.