Acquisition of shares in MAG

Not for release, publication or distribution in or into any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction

8 October 2008

Fresnillo plc acquisition of shares in MAG Silver

Toronto, London, Mexico City: Fresnillo plc, the world’s largest primary silver producer, announces that on 7 October it acquired a further 2,512,600 common shares of MAG Silver Corp (TSX: MAG, AMEX: MVG) (“MAG Silver”) through the facilities of the Toronto Stock Exchange at an average price of approximately CDN$5.00 per share. These shares, together with shares already owned by Fresnillo plc total 9,314,877 or approximately 18.95% of MAG Silver’s common shares outstanding, based on MAG Silver’s public disclosure.

Fresnillo plc with its affiliates, including Industrias Peñoles, own a total 9,746,193 common shares or 19.83% of MAG Silver’s common shares outstanding. Subject to applicable law and market conditions, Fresnillo or its affiliates may acquire additional MAG Silver common shares.

For further information contact:

Fresnillo plc
London Office
Octavio Alvidrez, Head of Investor Relations                              Tel: +44(0)20 7399 2470

Mexico City Office
Gabriela Mayor                                                                       Tel: +52555 279 3203

Brunswick                                                                              Tel: +44(0)20 7404 5959
Patrick Handley
Carole Cable

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