Form 51-102F3
Material Change Report
Item 1 Name and Address of Company
MAG SILVER CORP. (the “Issuer”)
328 – 550 Burrard Street
Vancouver BC, V6C 2B5
Telephone: (604) 630-1399 Facsimile: (604) 484-4710
Item 2 Date of Material Change
December 20, 2007
Item 3 News Release
The Issuer issued a news release at Vancouver, British Columbia on 20 December 2007 through Marketwire.
Item 4 Summary of Material Change
MAG SILVER & PEÑOLES: VALDECAÑAS VEIN UPDATE: DRILLING BEGINS ON JUANICIPIO VEIN
Drill hole GA cuts 6.02 metres of 562 g/t (16.4 opt) silver, and 0.55 g/t gold
Vancouver, B.C…MAG Silver Corp. (TSX: MAG) (AMEX: MVG) (“MAG”) and Industrias Peñoles,
S.A.B. DE C.V. (“Peñoles”) announce assay results have been received for Holes GA and UE. Drilling has now also started on a second vein (Juanicipio) targeting the same untested elevation (down dip) as the high grade zone at Valdecañas.
Item 5.1 Full Description of Material Change
Please see the Issuer’s news release dated 20 December 2007 (NR#07-34) for a full description of the material change.
Item 5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
Not applicable.
Item 7 Omitted Information
Not applicable.
Item 8 Executive Officer
For further information, contact Dan MacInnis, President and CEO of the Issuer, at (604) 630-1399.
Item 9 Date of Report
Dated 20 December 2007