INDEPENDENT TECHNICAL REPORT

CINCO DE MAYO PROPERTY

CHIHUAHUA STATE, MEXICO

MAG Silver Corp.

Bentall Tower 5
Suite 328,
550 Burrard Street
Vancouver, BC
V6C 2B5 Canada

October 15, 2008

Prepared By:

Caracle Creek International Consulting Inc.

17 Frood Rd. Suite 2

Sudbury, Ontario, Canada  P3C 4Y9

+1.705.671.1801

Julie Selway, Ph.D., P.Geo.

Brad Leonard, M.Sc., P.Geo.

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

TABLE OF CONTENTS

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Independent Technical Report – Cinco de Mayo, Mexico

LIST OF FIGURES

LIST OF TABLES

LIST OF APPENDICES

Appendix 1. Certificates of Qualification

Appendix 2. Analytical Results from Surface Sampling

Appendix 3. Analytical Results from Drilling

Appendix 4. Certificate of Analysis for Assay Standards

Appendix 5. Photos and assays from Property Visit

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Appendix 6. Option agreement between Minera Cascabel S.A. de C.V., Minera Los Lagartos S.A. de C.V. and MAG Silver

Appendix 7. Surface right agreements between Municipal Buenaventura, Ejido Benito Juárez and Minera Los Lagartos, S.A. de C.V.

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1.0 EXECUTIVE SUMMARY

Caracle Creek International Consulting Inc. ("CCIC") of Sudbury, Ontario, Canada was contracted by MAG Silver Corp ("MAG") of Vancouver, British Columbia, Canada, to review the Cinco de Mayo Property (the "Property"), and prepare an Independent Technical Report (the "Report"), compliant with National Instrument 43-101 ("NI43-101"), companion policy NI43-101CP and Form 43-101F1.  In addition, MAG has requested CCIC provide recommendations and a proposed exploration program and budget for further exploration on the Property.  The Property was visited on April 24 and 25, 2008 by Mr. Brad Leonard, Exploration Manager for CCIC and a member in good standing of the Association of Professional Geoscientists of Ontario (P.Geo. #0927).

The Cinco de Mayo Property is located approximately 190 km north west of Chihuahua City, Chihuahua State, Mexico and consists of 14 concessions covering an area of 23,928.457 hectares. MAG is the registered owner of 99% of the issued Class I shares of Minera Los Lagartos, S.A. de C. V.  Mr. Jose Maria Dozal Rascon is the owner of the Mining Lots comprising the Cinco de Mayo Property, which are currently under option to Lagartos.  The local Ejido's own the surface rights at Cinco de Mayo and there are surface rights agreements between Municipal Buenaventura, Ejido Benito Juárez and Minera Los Lagartos, S.A. de C.V.

Cinco de Mayo is located along the contact of the Sierra Madre Occidental and the Mexican fold thrust belt.  Cinco de Mayo is also located within the Chihuahua trough which hosts several Carbonate Replacement Deposits (CRD’s). The Cinco de Mayo property is dominated by Cretaceous limestones. The Cerro Cinco de Mayo is an elongate limestone ridge, about 1 km wide and 4.5 km long flanked by broad alluvium mantled valleys. Locally, there is abundant evidence that the western bounding fault of the Chihuahua Trough has functioned more recently as a major shear zone, with strands passing along the immediate flanks of the north-northwest-elongate Cerro Cinco de Mayo. A host of unnamed occurrences dominated by iron-rich jasperoids with strongly anomalous Pb-Zn-Ag-As (Au) signatures occur along the ridge.

There are three of styles of mineralization at Cinco de Mayo: (1) Manto mineralization consists of relatively flat-lying bodies of fine to coarse grained massive pyrite, pyrrhotite, galena, sphalerite with minor acanthite (Ag₂S). (2)  Massive sulfide mineralization also consists of the above sulfide assemblage as layers to 30-40 cm thick within hornfelsed shalier units. The hornfels contains very fine grained pyroxenes and garnets. (3)  Vein and veinlet mineralization consists of high-angle Mn-bearing calcite veins with 5-50 vol.% very coarse grained sulfides (same as above) occurring as linings on the vein walls, breccia fragments surrounded by later calcite, and as veinlets replacing massive vein calcite.

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Exploration work at Cinco de Mayo has used three concepts to guide drilling: CRD deposit model, geophysics and geochemical sampling. Exploration work in the covered areas is largely “blind” and necessitates using geochemical and geophysical techniques to trace mineralization beneath this thin cover.  Soil sampling along the eastern edge of Sierra Santa Lucia has identified Ag, Cu, Pb and Zn anomalies suggesting mineralization below surface. MAG's airborne magnetic survey revealed a number of prominent linear anomalies and prominent magnetic lows that are being systematically drilled.

In 2007, the Company completed 12 drill holes and 6,316 m program on the Cinco de Mayo property.  The highlight from this program of widely spaced holes was drill hole CM07-20 which intersected 6.8 m (estimated true thickness) of galena and sphalerite-rich massive sulphides grading 254 g/t (7.4 ounces per ton (opt)) Ag, 6.4% Pb and 7.0% Zn (Figure 11-1). This includes a compositionally distinct interval, 2.12 m thick, grading 512 g/t (15.9 opt) Ag, 12.15% Pb and 13.10% Zn.

MAG's ongoing drill program is focused on expanding the "Jose Manto" mineralization discovered with hole CM07-20 in late 2007 and subsequently intersected in holes CM08-22 through CM08-28 (www.magsilver.com, press release July 8, 2008) (Table 11-2). Six holes (CM08-29, and holes CM08-35 through CM08-39) extend the Jose Manto to an area of at least 300 m by 400 m and mineralization in outlying hole CM08-32 may extend this is an additional 600 m to the southeast.

It is the opinion of CCIC that the Cinco de Mayo Property represents a high quality, early stage exploration project for Pb-Zn-Ag Carbonate Replacement Deposit.

Based on the conclusions that the Cinco de Mayo Property is a high quality, early stage exploration project and that potential exists to a) continue to make early stage discoveries and b) to advance known prospects within the Project area with additional diamond drilling. The exploration budget for the Cinco de Mayo property for 2008 includes 8000 m of diamond drilling, geophysics surveys and geological mapping. These exploration activities can be used to expand the extent of the Jose Manto mineralization and to trace it back to its source. CCIC supports the direction of the work planned and conducted by MAG Silver Corp. An IP (dipole-dipole) survey and down-hole IP mis-a-la-masse in the area around hole CM08-28 are also recommended to locate additional mineralization and delineate the mineralization trend.

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Independent Technical Report – Cinco de Mayo, Mexico

2.0 INTRODUCTION AND TERMS OF REFERENCE

2.1 Introduction

MAG Silver Corp., through its wholly owned Mexican subsidiary Minera Los Lagartos S.A. de C.V., is exploring the Cinco de Mayo Property in Chihuahua, Mexico. Exclusive mineral exploration rights to the Cinco de Mayo Property were acquired through option agreement with the owner of the 14 mining concessions comprising the Cinco de Mayo Property, Mr. Jose Maria Dozal Rascon.

At the request of Mr. Daniel T. MacInnis, President of MAG Silver Corp., owner and operator of the Property, CCIC has prepared this Report to provide a summary of scientific and technical data on the Cinco de Mayo Property, including recent exploration activities completed by MAG.  This Independent Technical Report has utilized much of the information contained in a previous internal reports generated for MAG Silver Corp. The Property was visited by Brad Leonard on April 23 and 24, 2008. The Property visit included observation of a number of mineralized prospects on the property, collection of samples from selected mineralized prospects for check analyses, checks of field positional data and a review of diamond drill core, drill core sampling and data handling procedures.

2.2 Terms of Reference

Cascabel:  Minera Cascabel S.A. de C.V. is a privately-held Mexican mining company that has been engaged in the business of providing geological consulting services in Mexico since 1988.

Concession: a defined area for which mineral tenure has been granted by the Mexican government for a period of 50 years to allow exploration and exploitation and may be extended for an additional 50 years.  

CRD: refers to Carbonate Replacement Deposit.

GIS: Geographic Information System. A computer-based information management system that is geared to a geographic framework and that can efficiently manipulate different types of geographic-based geological information across scales. Conventional industry standard software programs include Arcview (ESRI) and MapInfo.

Lagartos: Minera Los Lagartos, S.A. DE C.V., a company incorporated pursuant to the laws of the Mexican Republic, the principal of which is MAG.

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MAG: MAG Silver Corp. is listed on the main board of the Toronto Stock Exchange and trades under the symbol TSX: MAG and on AMEX under the symbol MVG. MAG works in Mexico through its wholly owned Mexican subsidiary Minera Los Lagartos S.A. de C.V.

PEMEX: Petróleos Mexicanos is Mexico's state-owned petroleum company which was founded in 1938. PEMEX is the sole supplier of all commercial gasoline (petrol/diesel) stations in Mexico. PEMEX has done work on or near Cinco de Mayo property looking for oil and gas in the past.

Peñoles: Industrias Peñoles, S.A.B. de C.V., based in Mexico City, is a subsidiary company 100% Mexican and owned by the private Grupo Bal. Peñoles is the second largest Mexican mining company, the first Mexican producer of Au, Zn and Pb and the world leader in Ag production.

2.3 Units

The Metric System or SI System is the primary system of measure and length used in this Report and is generally expressed in kilometres, metres and centimetres, volume is expressed as cubic metres, and mass expressed as metric tonnes.  Conversions from the SI or Metric System to the Imperial System are provided below and quoted where practical.  Many of the geologic publications and more recent work assessment files now use the SI system but older work assessment files almost exclusively refer to the Imperial System.  Metals and minerals acronyms in this report conform to mineral industry accepted usage and the reader is directed to an online source at www.maden.hacettepe.edu.tr/dmmrt/index.html.

Conversion factors utilized in this report include: 1 troy ounces/ton = 34.29 gram/tonne; 0.029 troy ounces/ton = 1 gram/tonne; 1 troy ounces/ton = 31.1035 gram/ton; 0.032 troy ounces/ton = 1 gram/ton; 1 gram = 0.0322 troy ounces; 1 troy ounce = 31.104 grams; 1 pound = 0.454 kilograms; 1 foot = 0.3048 metres; 1 mile = 1.609 kilometres; 1 acre = 0.405 hectares; and, 1 sq mile = 2.59 square kilometres.  The term gram/tonne or g/t is expressed as “gram per tonne” where 1 gram/tonne = 1 ppm (part per million) = 1000 ppb (part per billion).  Other abbreviations include ppb = parts per billion; ppm = parts per million; opt or oz/t = ounce per short ton; Moz = million ounces; Mt = million tonne; t = tonne (1000 kilograms); SG = specific gravity; lb/t = pound/tonne; and, st = short ton (2000 pounds).

Dollars are expressed in United States currency (US$) unless otherwise noted.  Gold (Au) and silver (Ag) are stated in US$ per troy ounce (US$/oz).  Gold and silver values are reported as grams per tonne (ppm) symbolized g/t.  Mexican Pesos are expressed as P$.

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Spanish place names are used where appropriate, including “el” “la” and “los” articles, which are retained for clarity despite the fact that they may be preceded by “the”.  Unless otherwise mentioned, all Universal Transverse Mercator (UTM) coordinates in this Report are provided in the datum of Mexico, NAD27 Zone 13.

2.4 CCIC Qualifications

Caracle Creek International Consulting Inc. ("CCIC") is an international consulting company based in Sudbury, Ontario, Canada.  CCIC provides a wide range of geological and engineering services to the mineral exploration and development industry.  With offices in Canada (Sudbury and Toronto, Ontario and Abbotsford, British Columbia) and South Africa (Johannesburg), CCIC is well positioned to service its international client base.

CCIC's mandate is to provide professional geological and engineering services to the mineral exploration and development industry at competitive rates and without compromise.  CCIC's group of professionals have international experience in a variety of disciplines and offer services that include:

·

Exploration Project Generation, Design and Management

·

Data Compilation and Exploration Target Generation

·

Property Evaluation and Due Diligence Studies

·

Independent Technical Reports (NI43-101)/Competent Persons' Reports

·

Mineral Resource/Reserve Modelling, Estimation and Audit, and Conditional Simulation

·

3D Geological Modelling, Visualization and Database Management

In addition, CCIC has access to the most current software for data management, interpretation and viewing, manipulation and target generation.

The Qualified Person and co-author for this Report is Mr. Brad Leonard, Exploration Manager of CCIC and a member in good standing of the Association of Professional Geoscientists of Ontario (P.Geo. #0927).  Mr. Leonard has over 24 years experience in mineral exploration including gold, base metals, uranium, diamonds and platinum-group elements, and has authored/co-authored Independent Technical Reports (NI43-101).  A Certificate of Qualifications for Mr. Leonard is provided in Appendix 1.

The other Qualified Person and co-author for this Report is Dr. Julie Selway, Senior Project Geologist of CCIC and a member in good standing of the Association of Professional Geoscientists of Ontario (P.Geo. #0738). Dr. Selway has worked as a geologist for 15 years with academia and industry on a variety of exploration properties such as gold, Ni-Cu-PGE and rare-

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element pegmatites and has authored/co-authored Independent Technical Reports (NI43-101).  A Certificate of Qualifications for Dr. Selway is provided in Appendix 1.

3.0 RELIANCE ON OTHER EXPERTS

CCIC has conducted this independent technical assessment in accordance with the methodology and format outlined in National Instrument 43-101, companion policy NI43-101CP and Form 43-101F1.  This Report is directed solely for the development and presentation of data with recommendations to allow for MAG to reach informed decisions.  This Report was prepared by competent and professional individuals from Caracle Creek International Consulting Inc. on behalf of MAG Silver Corp., for their ability to raise funds to further explore and develop the Property.  The information, conclusions and recommendations contained herein are based largely on a review of digital and hard copy data and information supplied to CCIC by MAG, as well as various published geological reports, discussions with representatives from MAG who are familiar with the Property and the area in general.  CCIC has assumed that the reports and other data listed in the “References” section of this Report are substantially accurate and complete.

CCIC has relied exclusively on information provided by MAG regarding land tenure and technical information and all of these sources appear to be of sound quality.  CCIC are unaware of any technical data other than that presented by MAG or its agents.  CCIC did not conduct an in-depth review of mineral title and ownership and the title ownership and status of claims as outlined in this Report was obtained from MAG.  While title documents and option/purchase agreements were reviewed for this study as provided by MAG, it does not constitute, nor is it intended to represent, a legal, or any other opinion as to title.  

All relevant information on the Property presented in this Report is based on data derived from reports written by geologists and/or engineers, whose professional status may or may not be known in relation to the NI43-101 definition of a Qualified Person.  CCIC has made every attempt to accurately convey the content of those files, but cannot guarantee either the accuracy or validity of the work contained within those files.  CCIC believes that many of these reports were written for internal purposes only, with the objective of presenting the results of the work performed without any promotional or misleading intent. In this sense, the information presented should be considered reliable, unless otherwise stated, and may be used without any prejudice by MAG Silver Corp.  

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4.0 PROPERTY LOCATION AND DESCRIPTION

4.1 Location

The mining concessions that comprise the Cinco de Mayo Property are located approximately 190 km northwest from Chihuahua City, in Buenaventura Municipality, Chihuahua State (Figure 4-1).

Figure 4-1. Location of the Cinco de Mayo Property, Chihuahua State, Mexico.

4.2 Description and Ownership

The Cinco de Mayo Property consists of 14 concessions (Table 4-1) covering an area of 23,928.457 hectares (Figure 4-2).  

Cinco de Mayo property consists of two types of concessions: Exploration and Exploitation. Previously, there was a distinction between exploration and exploitation. Exploration was work performed on land aimed at identifying deposits of minerals or substances, as well as quantifying and evaluating the economically utilizable reserves they contain. Exploration Concessions were good for about 6 years and an escalating amount of work was required each year. After 6 years

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Exploration Concessions could be converted to Exploitation (~Development and Extraction) and held for 50 years. Exploitation was work aimed at preparation and development of the area comprised by the mineral deposit, as well as work aimed at detaching and extracting the minerals products or substances existing therein.

The Mexican Mining Act (Articulo 15, page 11) changed on April 28, 2005. Now, Exploration and Exploitation concessions are all equivalent to Exploitation from day 1 and good for 50 years as long as the annual taxes are paid. MAG still shows the distinction because that's the way the Mining Recorder has them listed.

Table 4-1. MAG Silver/Minera Los Lagartos S.A. de C.V. claims for Cinco de Mayo  

claim name	type of conc.	file number		title number	date of issue	expiry date	surface area (ha)	rights to pay 1/2008 ($US)
DON JOSE	X	1	1300	222251	22-Jun-2004	21-Jun-2054	1,640.0000	2,335.40
DON JOSE II	X	1	1391	207171	8-May-1998	7-May-2048	2,462.9828	24,824.40
DON JOSE III	X	1	1492	224331	26-Apr-2005	25-Apr-2055	78.7872	54.20
DON JOSE III FRAC. 2	E	16/	24502	209293	30-Mar-1999	29-Mar-2049	32.7879	187.70
DON JOSE IV: T-212524 PASO A	E	16/	24773	218474	31-Oct-2000	30-Oct-2050	348.5547	496.30
DON JOSE V	E	16/	24789	212878	13-Feb-2001	12-Feb-2046	47.7166	136.70
DON ROBERTO	X	1	1462	224252	22-Apr-2005	21-Apr-2055	453.4431	312.00
CINCO DE MAYO	E	16/	31459	216086	9-Apr-2002	8-Apr-2048	65.0000	186.20
DANIEL	E	16/	33396	229222	27-Mar-2007	26-Mar-2057	1,653.9137	760.80
DANIEL 1	E	16/	34715	229249	28-Mar-2007	27-Mar-2057	4.8630	2.30
INDEPENDENCIA	E	16/	34753	229744	13-Jun-2007	12-Jun-2057	17,096.9082	7,864.60
LA MARY	E	16/	35303	230455	4-Sep-2007	3-Sep-2057	12.0000	5.50
LA AMISTAD	E	16/	34983	230454	4-Sep-2007	3-Sep-2057	11.4935	5.30
EL PLOMO	E	16/	35374	230475	6-Sep-2007	5-Sep-2057	20.0000	9.20
						TOTAL:	23,928.4507	37,180.60
type of concession legend: X - Exploration, E - Exploitation

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Figure 4-2. MAG Silver mining claims.

The description of the mineral titles is based on a legal opinion provided to CCIC by Minera Los Lagartos, S.A. de C. V. /MAG Silver Corp.

Mr. Jose Maria Dozal Rascon is the owner of all the mining concessions currently under option to MAG Silver Corp.

The Company is the registered owner of 99% of the issued Class I shares of Minera Los Lagartos, S.A. de C. V. (“Lagartos”) (www.sedar.com). The remaining 1% of the issued Class I shares of Lagartos is held by Dan MacInnis, President, CEO and a director of the Company, in trust for the Company. The Company effectively has 100% beneficial ownership of Lagartos. Lagartos is a private company incorporated under the laws of the Mexican Republic in the mineral exploration business.

As of April 14, 2004 the Cinco de Mayo property is subject to an option agreement between Minera Cascabel S.A. de C.V. (“Cascabel”), Minera Los Lagartos S.A. de C.V. (“Lagartos”) and MAG (see Appendix 4).

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Pursuant to an arm’s length agreement dated as of April 15, 2004 among the Company, Lagartos and Cascabel, Cascabel granted to Lagartos an option to acquire a 100% interest in the 23,928 ha (59,125 acre) Cinco de Mayo property subject to a 2.5% net smelter returns royalty.

During the year end December 31, 2005, the Company and Cascabel amended the terms of the original Cinco de Mayo Agreement.  Under the amended terms, half of each of the remaining property payments totaling US$775,000 due on or before July 26, 2009 may be paid in Common Shares at a deemed price per share equal to the average trading price of the Company’s Common Shares for 30 calendar days prior to the date of the payment.  To that end, the Company paid cash of US$62,500 and issued 30,840 Common Shares (2005 – US$37,500 and issued 59,830 Common Shares) for the property payment due July 26, 2006.  For the property payment due July 26, 2007, the Company paid cash of $175,000.  To December 31, 2007 the Company paid US$300,000 in cash, issued 165,670 Common Shares at a value of $266,630 and completed $2,775,679 in exploration costs.

Excellent working relationships have been established and maintained by Lagartos. Formal written permission must be obtained from each affected landowner, or landowner group, to obtain drill permits. The local Ejido's own the surface rights at Cinco de Mayo. Appendix 6 contains a copy of the surface rights agreements between Municipal Buenaventura, Ejido Benito Juárez and Minera Los Lagartos, S.A. de C.V.

5.0 ACCESSIBILITY, CLIMATE, PHYSIOGRAPHY, AND INFRASTRUCTURE

5.1 Access

The Cinco de Mayo Property is located approximately 190 km north of the city of Chihuahua, Mexico. Major highways lead to the town of Benito Juárez and from there dirt roads and tracks lead to the Cinco de Mayo property (Figure 5-1 and 5-2).  The Property may be accessed by driving north along Highway 45 from Chihuahua City, Chihuahua State to Benito Juárez.  The closest railway and international airport services to the Property are in Chihuahua City.

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Independent Technical Report – Cinco de Mayo, Mexico

Figure 5-1. Location of Cinco de Mayo Property

Figure 5-2. Infrastructure and physiography for Chihuahua State

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Independent Technical Report – Cinco de Mayo, Mexico

5.2 Climate and Vegetation

The climate is high desert, generally arid and not subject to freezing conditions with average annual rainfall of about 45 cm.

5.3 Physiography

The Cinco de Mayo Property is located in an area with a local relief of 610 m, ranging from 1330 m in the valley floor east of Sierra Santa Lucia up to 1940 m along the top of Sierra Santa Lucia (Figure 5-3). The vegetation in the area is quite sparse but consists of range grass along with scattered cacti and other shrubs with occasional Mesquite trees.

Figure 5-3. Satellite image of Cinco de Mayo property.

There are several ridges on the property. Cerro Cinco de Mayo, Sierra Santa Lucia and Sierra Ruso are all composed of Cretaceous limestone ridges, whereas Cerro Jabali is composed of Tertiary basalt, and Cerro de la Aguja is composed of Tertiary volcanic rocks.

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Figure 5-4. Valley between Cerro Cinco de Mayo and Sierra St. Lucia limestone ridges.

Cerro Cinco de Mayo is on the left and Sierra Santa Lucia is on the right. Photo taken during site visit April 2008.

5.4 Infrastructure and Local Resources

The population of Chihuahua, the capital of the state of Chihuahua, is about one million. This includes an abundance of available and qualified labor in the area. There is also an ample base of service providers in Chihuahua, Juarez, and El Paso to support heavy industry. Northern Mexico in general has a well-established mining industry so there is an established network of vendors of heavy equipment, fuel, tires, explosives, etc.  

Benito Juárez is the closest community, approximately 3 km east of the eastern property boundary, which offers local labour and limited supplies, as well as water for diamond drilling

6.0 HISTORY

Little is known of historic mining at Cinco de Mayo, but judging from the dumps in the area, less than 50,000 T was produced from the area. There are two old mines on the property: the Cinco

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de Mayo Mine exploited a small breccia chimney at the south end of the ridge; and the Cinco Mine which exploited a small manto on the northwestern end of the ridge.

Holes labeled SL-1 to SL-6 were drilled by a Peñoles affiliate back in the mid 1990’s.  The holes were short (<100m) RC holes drilled to test open pit potential of the gold-bearing silica developed along the thrust fault where it is exposed at the base of the range. Peñoles (full name in Spanish is Industrias Peñoles, S.A.B. de C.V.), based in Mexico City, is a subsidiary company 100% Mexican and owned by the private Grupo Bal. Peñoles is the second largest Mexican mining company, the first Mexican producer of Au, Zn and Pb and the world leader in Ag production.

Exploration in the district has been desultory (aimlessly or randomly passing from one thing to another) prior to MAG’s recognition of the potential importance of buried targets at Cinco de Mayo.  Teck underwrote an initial exploration program that consisted of mapping and sampling of the jasperoid veins that cut the property. The results from the Teck program were re-examined and show a coherent geochemical anomaly throughout the range.  Teck made an agreement to farm CdM (and several other CRD properties) in 2000, but their partner was unable to raise funding.  Teck's exploration objectives changed and they turned the property over to IMDEX/Cascabel in early 2000.  Because of the timing of Teck's farm-out relative to the geochemical sampling, there has been no organized follow-up of the results, nor has there been examination of several showings, such as the Occidental and Celia occurrences 5 km to the north along the same structural trend, that fall within the claim package.  Teck did continue to add to the property package as certain areas became free for filing, so the ultimate property package exceeds 10,000 ha.

MAG began preliminary regional geologic mapping and sampling at Cinco de Mayo in mid-2004.  Unfortunately, unusually heavy summer and fall rains deluged the region, washing out dams and cutting road access to the property.

The work program continued in early 2005 with MAG executing an orientation biogeochemical survey that revealed strong linear Zn and Cu anomalies along trend from strongly anomalous structures exposed in limited outcrop.  These results were encouraging enough to justify a 30 line-km NSAMT (Natural Source Audio Magneto Telluric – Zonge Engineering) geophysical survey testing historically exploited mineralization, geological features identified in nearby outcrop and through cover utilizing a biogeochemical survey.

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The Company contracted a 450 line-km airborne magnetic and electromagnetic survey which was completed in late 2006.  The results are considered very significant and were a major guide to further drilling in 2007 when integrated with previous work and the recent drill information.

2006 Drilling

The results from the first nine holes (3,975 m) drilled at Cinco de Mayo in 2006 were noteworthy (Table 6-1). Six of the nine holes were drilled over a strike length of 2.0 km along a prominent NW trending fault zone that cuts strongly folded massive limestone and limestone-rich sedimentary rocks.  Structurally controlled replacement style massive to semi-massive sulphide mineralization occurring within broad mineralized and altered zones was intercepted in all six of the holes. (e.g. Hole CM06-01 had 6.11 m of 5.7% Zn, 1.4% Pb and 22.5 g/t Ag). Mineralization is open in all directions. At least trace mineralization was encountered in the remaining three holes.

Table 6-1. Drilling highlights from 2006 drilling program for Cinco de Mayo.

Hole No.	From (m)	To (m)	interval (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (g/t)
CM06-01	318.09	324.20	6.11	22.50	1.40	5.70	-
including	320.57	321.84	1.27	4.60	1.60	11.60	-
CM06-01	355.30	357.18	1.88	190.90	4.30	7.90	-
CM06-02	253.47	253.89	0.42	130.00	0.50	3.10	-
CM06-05	292.40	292.70	0.30	124.00	6.70	2.70	-
CM06-06	198.70	199.00	0.23	463.00	17.50	0.30	-
CM06-07	321.87	326.17	4.30	82.00	3.00	2.60	-
CM06-08	317.68	324.18	6.50	27.40	1.20	2.20	-
including	319.80	323.30	3.51	45.00	1.90	3.10	-
The intercepts are believed to be true widths.

from www.magsilver.com

7.0 GEOLOGICAL SETTING

7.1. Regional Geology

Cinco de Mayo is located along the contact of the Sierra Madre Occidental and the Mexican fold thrust belt (Figures 7-1 and 7-2). Sierra Madre Occidental is a large silicic igneous province which is the result of Cretaceous-Cenozoic magmatic and tectonic episodes. The Mexican fold thrust belt is mostly composed of Cretaceous carbonate rocks.

Cinco de Mayo is also located within the Chihuahua trough which hosts several Carbonate Replacement Deposits (CRD’s) (Figure 7-3). The Chihuahua trough is a Jurassic marine basin generally composed of (from oldest to youngest):  evaporites, clastic sedimentary rocks and carbonates (Haenggi, 2002). The Jurassic evaporate rocks are gypsum, anhydrite and barite. The clastic sedimentary rocks are conglomeritic sandstone, pebble conglomerates, siltstone and

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shale. The Cretaceous carbonate rocks are mostly limestone. The Chihuahua trough is generally interpreted to be the result of a Jurassic extensional event related to the opening of the Atlantic Ocean and formation of the Gulf of Mexico. The Cinco de Mayo property (especially Cerro Cinco de Mayo, Sierra Santa Lucia and Sierra Ruso) is dominated by Cretaceous limestones (Figure 5-3).

Figure 7-1. Regional tectonic geology of Mexico and MAG project locations.

(www.magsilver.com)

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Figure 7-2. Regional bedrock geology of Mexico and location of CRD deposits

Figure 7-3. CRD occurrences in the Chihuahua trough.

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7.2. Local Geology

The local and property geology descriptions and map are from Lyons (2007). The structural style of the Cinco de Mayo in the Municipio of Buenaventura indicates that the district is favorably situated on the west margin of an inverted Jurassic basin.  This location has proven to be a good regional environment for carbonate replacement deposits in México.  The variety of indicators for fluid flow is broad; silica replaced structures, silica replaced pipes, fluorite-barite chimneys, sulfide mantos, sulfide filled faults and a disseminated sulfide in marble of which only one locality is known (Figure 7-4).  The marblized area is considered to be a high value target for the region.  This marblization is unfortunately located off of the property and is tied up by the present processing of the non-metalic Megaclaim of the government.

Figure 7-4. Cross section of the regional geology of Cinco de Mayo

Stratigraphy

The exposed stratigraphy is highly thrusted with three to four repeated sections of the Early and Middle Albian section.  The units mapped on the surface range from possible Cuchillo Formation at the base up through the Benigno Formation, the Lagrima Formation all of which underlies the Finlay Formation (Table 7-1). The Finlay is a medium bedded fossiliferous cherty limestone with high energy beach zones at the base and abundant rudisted (common Mesozoic bivalve) reefs. The Finlay Formation underlies two different shale units.  It underlies the Benevides on the east

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side of Sierra Santa Lucia in depositional contact and in thrust contact with the late Cenomanian Agua Nueva or Ojinaga Formation east of Cerro Cinco de Mayo.  The Late Albian Loma de Plata, and Early Cenomanian Del Rio and Buda Formations remain unobserved in the region.  The Late Cenomanian Ojinaga crops out 5 km northeast of Cerro Cinco de Mayo and the Late Cenomanian Indidura crops out 15 km to the north-northeast.

In drill hole CM06-02 a fossiliferous calcareous black shale unit occurred above the Finlay.  This unit is correlated with the Benevides Formation.  Strongly oxidized Benevides crops out in the southwest corner of both Sierra Santa Lucia and Sierra Ruso with minor carbonate beds.  The Albian stratigraphy above the Benevides is the Loma de Plata.  This unit crops out to the east but has not been observed in the Cinco area.  Two prominent Early Cenomanian units above the Loma de Plata the Del Rio and Buda Formation also have not been observed in the Cinco area.  Their nearest outcrops Lyons observed are in the El Paso area and in the area west of Chihuahua City.  Two Late Cretaceous units have been observed in the Cinco region.  First is the Late Cenomanian Indidura equivalent which crops out 15 km NNE of Cinco de Mayo adjacent to an alteration inducing intrusive.  The Ojinaga Formation crops out 5.5 km ENE of Cinco de Mayo.  In addition the upper parts of drill holes drilled on the NE side of Cerro Cinco de Mayo probably mostly start in the Ojinaga.  The volcanically derived sandstones of the Ojinaga probably account for the prominent fold observed in the magnetic survey northeast of Sierra Santa Lucia.

The thicknesses given on the chart are very approximate because of structural thickening and thinning obvious throughout the district.

Table 7-1. Cinco de Mayo Stratigraphic section

AGE	LABEL	FORMATION	DESCRIPTION	Thickness (m)
Tertiary	Tv	Volcanic Rocks	Dacite to Rhyolitic welded tuffs
Cenomanian	Ko	Ojinaga	Sandstones and Shale	+1000
Cenomanian	Kin	Indidura	Finely Laminated siltstone	?
Late Albian	Klp	Loma de Plata	Bedded Fossiliferous Cherty Limestone	?
Late Albian	Kbe	Benevides	Marl and Calcareous Shale	~300-400 m
Middle Albian	Kf	Finlay	Bedded Fossiliferous Cherty Limestone	~100 m
Middle Albian	Kl	Lagrima	Marl and Calcareous Shale	30-50 m or more
Early Albian	Kbg	Benigno	Bedded Fossiliferous Cherty Limestone	~150-200 m
Aptian	Kcu	Cuchillo	Interbedded Limestone and Shale	~1 to 2 m

Structure

Structure always becomes more complicated through time.  The structures cannot be older than the hosting rocks but they may reflect older structures by reactivation of these structures.  The oldest structures reflected in the Cinco region are the Late Triassic and Early Jurassic extensional

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basin structures which trend NNW.  Their inversion during the Late Cretaceous-Early Tertiary shortening, extend up through the Late Cretaceous basin. Later, platform sediments filled and covered the basin structures.  Laramide shortening (observed as old as coinciding with the Late Cenomanian transition from carbonate dominated deposition and the carbonate cemented volcanic sandstone and shale) produced the dominant structural fabric of the region.  The resulting structures are the prominent folds and related west directed thrusts which are escape structures of the narrowing basin.  Folds to the NE, further from the basin margin, have a more NW trend suggesting that the greatest shortening was occurring in a NE direction.  The generally EW trending faults appear to represent the compressional direction with the minimum principal stress being close to northerly.  These structures also appear to be the most mineralized and therefore most open during compression.  The Tertiary volcanic rocks surrounding Sierra Santa Lucia appear to be domed around the range.  This could result from the compaction of tuffs over a paleo-high of the range or actually reflect the actual folding of these volcanic rocks near the end of the Laramide compressional episode.  Although not well documented in the literature abundant evidence has been observed in the field in Mexico that folding did affect volcanic rocks in these Mesozoic basins by their continuing inversion.  The basin and range topography mostly results from contrasting lithologies of Late and Early Cretaceous sediments in a folded terrane.  It is possible that the valley of the Rio del Carmen does result from extension although no evidence of such a relation was observed.

7.3. Property Geology

The Cerro Cinco de Mayo is an elongate limestone ridge, about 1 km wide and 4.5 km long flanked by broad alluvium mantled valleys. PEMEX data and outcrop reconnaissance indicate that the alluvial cover is very thin and that a very thick section of favourable carbonate host rocks lies immediately beneath the cover. The ridge is cut by NE-SW and NW-SE structures that host both mineralization and metal-bearing jasperoid alteration.  Little is known of the historic mining at Cinco de Mayo, but there are two old mines on the property that probably produced small amounts of high-grade silver and base metal ores.  These jasperoids were the focus of a systematic mapping and sampling program in 1998. This program revealed a number of geochemical “hot-spots” along certain structural corridors leading towards the adjacent covered areas that are in turn underlain by highly favourable host rocks.

Locally, there is abundant evidence that the western bounding fault of the Chihuahua Trough has functioned more recently as a major shear zone, with strands passing along the immediate flanks of the north-northwest-elongate Cerro Cinco de Mayo. At Cinco de Mayo, there are numerous mineralization and alteration occurrences associated with this fault. These include the prospects

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Abundancia, Celia and Orientales and a host of unnamed occurrences dominated by iron-rich jasperoids with strongly anomalous Pb-Zn-Ag-As (Au) signatures, particularly along the ridge.

Petrographic Descriptions of Stratigraphy

Descriptions of Cinco de Mayo stratigraphy are from Lyons (2008) which are listed in Table 7-1 and are shown in a local geology map (Figure 7-5). The outcrops on the local geology map are the same as on the SGM (Servicio Geologico Mexicano) published geologic quadrangle, Nuevo Casas Grandes 1:250,000 sheet.  The original correlations of the local stratigraphy were by PEMEX geologists.

Tertiary volcanic rocks (Tv-Tbstr)-  Basalt flows and dacite to rhyolite tuffs.  Older tuffs appear post mineral.

Ojinaga Formation (Koj)-  Upper Cretaceous Ojinaga Formation consists of alternating immature sandstones and mudstones with scattered conglomeritic horizons.  The sandstones are comprised of quartz, volcanic rock grains, feldspars and magnetite grains from the volcanic source rocks.  Conglomeritic clasts are of volcanic origin (porphyritic) when recognizable.  Mudstones vary from red (subaerial source) to green (subaqueous source) and mostly lack internal texture.

Indidura Formation Equivalent (Kin)-  The Indidura Formation consists of laminated siltstones of Late Cenomanian age which separate the clastic dominated Late Cretaceous from the carbonate dominated Early Cretaceous.  In the Cinco de Mayo area outcrops of similar lithology have been observed between the clastic and carbonate sections.  In the drilling, this same horizon contains more shale than is normally observed but is clearly laminated siltstone and shale.

Benevides Formation (Kbv)-  The Benevides Formation is locally applied to a fossiliferous argillaceous limestone to calcareous shale sequence which in reality probably contains the time equivalents of many other formations including from the bottom up the Benevides, Loma de Plata, Del Rio and Buda Formations.  Several zones of the Benevides unit are more calcareous than others including the approximate 100 m above the Finlay.  Locally these formations display much higher shale content than to the southeast and probably represent a transition between the Bisbee Group clastic rocks to the northwest and the more massively carbonate Aurora section observed to the southeast.  Drilling intercepts thickness on the order of 300 to 400 m but the complex variation of dip indicates extensive internal folding within the formation.

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Finlay Formation (Kf)-  The Finlay Formation mostly consists of medium gray carbonate with variable fossil content and variable black chert.  Reef facies appear to be aerially restricted patch reefs.  The carbonate ranges from micrite to sparite and calcarenites.  It appears possible that mineralizing solutions moved easily through the above wave base formed calcarenites.  There are various calcarenites in the Finlay section but the principal one appears to occur 1/3 to 1/4^th of the thickness from the top.  Another local control of mineralization appears to be the upper and lower contact zones which act as aquicludes.  Thickness is about 100 m but structure can lead to great variation in the intercepted value.

Lagrima Formation (Kl)-  The Lagrima Formation varies from black to dark gray argillaceous limestone to calcareous shale and is variably fossiliferous.  The thickness ranges from 30 to 50 m but structure can produce greater thicknesses.

Benigno Formation (Kbg)-  The Benigno Formation consists of medium gray carbonate with variable fossil content and variable black chert very similar to the Finlay Formation.  As with the Finlay the carbonate ranges from micrite to sparite but appears to contain much less calcarenite.  The Benigno reefs dominate in the lower part of the formation with bioturbated micrite to cherty micrite dominating in the upper part transitional with the deeper water Lagrima.  The Benigno Formation is estimated to be 150 to 200 m thick.

Cuchillo Formation (Kcu)-  Below the Benigno Reefs deeper water calcareous shale is interbedded with 1 to 2 m thick limestone beds.  This very distinctive lithologic unit is mapped by PEMEX as a continuing sequence of Benigno but because of its distinctive nature which is similar to known Cuchillo Formation it has been mapped as Cuchillo.  It has not been intersected in drilling but will be on the west side of Sierra Santa Lucia.

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Figure 7-5. Local bedrock geology of Cinco de Mayo property

(Lyons 2007).

8.0 DEPOSIT TYPES

Carbonate Replacement Deposits CRD's are polymetalic Ag-Pb-Zn-Cu-Au deposits that have contributed 40% of Mexico's historic Ag production, making them second only to epithermal veins (www.magsilver.com). Currently, they provide most of the Zn and Pb that put Mexico in 5^th and 6^th place respectively in world production. The largest CRD’s in Mexico define a narrow belt 2,200 km long and range from 10 to over 100 million tonnes in size. Cinco de Mayo represents a gravel-covered new discovery along this trend (Figure 7-3). CRDs form large systems ranging from 25 to 100 million tonnes of high-grade ores.The deposits are commonly exploited at rates of 2,500 to over 6,000 tonnes per day, with mining depths in several exceeding 1,200 m below surface. Mining costs are typically very low and some of Mexico's CRD mines are among the lowest cost underground mines in the world.

Mexico's CRDs occur along the intersection of the Laramide-aged Mexican Thrust Belt and the Tertiary volcanic plateau of the Sierra Madre Occidental, a zone where structurally prepared carbonate host rocks were invaded by metals-rich intrusive bodies (Figure 7-1). The Cinco de

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Mayo project lies on the western bounding fault of the Chihuahua Trough, the same structure that hosts major CRDs like Santa Eulalia (MAG's Guigui property), Naica, San Pedro Corralitos and Terrazas (Figure 7-3). This ancient crustal break first controlled deposition of a thick section of carbonate host rocks, later movements created abundant structural fluid pathways, and finally it guided metals-rich magmas into place for optimal mineral deposition. These are essential elements of the mineralization model.

CRDs are zoned over km’s laterally and vertically from: central intrusions with mineralized skarn lenses along their flanks; to mineralized skarns along dike or sill offshoots; to vertical to steeply oriented tabular or tubular “chimneys” composed dominantly of massive sulfides; to flat-lying tabular elongate "mantos" composed of massive sulfides; to a distinctive series of alteration styles that may extend for additional hundreds of metres from sulfides (Figure 8-1). The dominant metals change with distance from the source intrusion, with the highest silver grades occurring in the distal manto-dominated part of the system. Mineralization is typically continuous from the source intrusion to the fringes of the system, with the largest mines exploiting the full range of mineralization styles. Distinct alteration and mineralization patterns characterize each zone and can be used to trace mineralization from one zone to another. Large CRDs are characteristically multi-stage systems showing evidence for multiple intrusion, mineralization and alteration events. This results in overprinting of the various stages and creates complex, but substantial mineralized bodies.

Figure 8-1. CRD deposit model for Cinco de Mayo

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CRD exploration focuses on position within the "CRD Belt" and recognition of where exposed mineralization lies with respect to this zoning spectrum. Mantos are traced to chimneys and from there to skarn, or vice versa. Early systematic regional exploration work and the results of initial drilling clearly show that Cinco de Mayo has many geological and mineralogical characteristics in common with the largest CRDs in Mexico. MAG believes its current exploration is in the distal mantos part of the system.

The acquisition of the Cinco de Mayo property evolved from a review of data collected during 15 years of systematic exploration and a study of the geologic characteristics of the CRDs prospects in Chihuahua by Dr. Peter Megaw and Cascabel. This compilation revealed key features that set the important CRD systems like Santa Eulalia, Naica, Bismark, and San Pedro Corralitos apart from the numerous small CRD showings and Mississippi Valley Type Deposits (MVT) that occur elsewhere in the region (Megaw et al., 1988, Megaw et al., 1996). An intriguing result from this compilation and cogitation was the recognition that the seemingly unimportant Cinco de Mayo Prospect (CdM) has most of the features associated with the larger deposits, indicating that it may be an important exploration target of district scale.  There is virtually no outcrop at Cinco de Mayo save for the prominent range-front jasperoid outcrops and a narrow limestone ridge containing two small historic mines. The reinterpretation was adequate justification for filing the Don Jose Claims over the area east of Cinco de Mayo (Megaw, 2002).

The major features of the compilation that sparked Megaw’s renewed interest in CdM are:

1.

Location along the western limit of the Chihuahua Trough, along the trend of large deposits including: Naica, Santa Eulalia, San Pedro Corralitos, and Bismark.  CdM has more in common with these big deposits than any other prospect on this trend, and PEMEX data show that it lies almost precisely on the western limiting fault of the Chihuahua Trough (Megaw et al., 1996)

2.

Presence of Cu, As, Au, and Mn in addition to Ag, Pb, and Zn. This is similar to distal Santa Eulalia and San Pedro Corralitos and is a very different element suite from that seen in weak MVT mineralization found in the region.

3.

Presence of pyrite pseudomorphs after pyrrhotite.  According to Megaw, these have never been found except in big deposits like Santa Eulalia, Naica, Concepcion del Oro, Leadville, Dalnegorsk, Ertzberg, etc.  (See Megaw, 1998)

4.

High FeS in sphalerite.

5.

Discordant geometry and lack of collapse brecciation.

6.

Location in top of Cretaceous carbonate section, with significant depth continuity of favorable host rocks.

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At Cinco de Mayo there are numerous mineralization and alteration occurrences associated with the western bounding fault of the Chihuahua Trough. These include old mines on the Cinco Chimney and Cinco Manto at opposite ends of  Cerro Cinco de Mayo, Abundancia, Celia and Orientales, all of which lie within MAG's property package. Further, Cerro Cinco de Mayo is cut by numerous ferruginous jasperoid veins that carry strongly anomalous Pb-Zn-Cu-Ag-Au values. Despite the extensive cover, the nature and degree of mineralization and alteration in Cerro Cinco de Mayo strongly indicates that a CRD system may lay hidden nearby under the cover.

9.0 MINERALIZATION

The description of the mineralization at Cinco de Mayo comes from Dr. Peter Megaw, personnel communication July 2008. There are three of styles of mineralization at Cinco de Mayo:

 
1. The manto mineralization consists of relatively flat-lying bodies of fine to coarse grained massive pyrite, pyrrhotite, galena, sphalerite with minor acanthite (Ag₂S).  The sulfides are commonly brecciated and remineralized by later sulfide stages.  Sphalerite color varies from honey to beer-bottle brown with separate stages showing differences in color.  The sulfides are commonly banded, locally reflecting the shapes of partially replaced limestone domains, but generally highly contorted with no apparent relationship to any pre-existing opening or domain shape (this is typical of replacement ores). Pyrite replacements (pseudomorphs) after platy pyrrhotite are common.  Gangue is dominated by calcite with minor fluorite, the mineralization is locally siliceous.  Domains of unreplaced limestone are common within the massive replacement sulfides.  Alteration of the surrounding limestone is generally limited to a narrow recrystallized and bleached selvage, with silicification locally present.  

 
2.  Massive sulfide mineralization also consists of the above sulfide assemblage as layers to 30-40 cm thick within hornfelsed shalier units.  Sphalerite in this environment is commonly dark amber in color.  The hornfels consists of very fine grained pyroxenes and garnets, with local zones showing garnet crystal faces to 0.5mm across.  Full-blown skarn has not yet been seen.
 
3.  Vein and veinlet mineralization consists of high-angle Mn-bearing calcite veins with 5-50 vol.% very coarse grained sulfides (same as above) occurring as linings on the vein walls, breccia fragments surrounded by later calcite, and as veinlets replacing massive vein calcite.  The veins clearly were repeatedly brecciated, filled with calcite and subsequently re-mineralized.  The calcite has a characteristic strong orange-red fluorescence under short wave ultraviolet light, indicating the presence of significant manganese in the calcite crystal structure.

A cross section showing the mineralization and alteration at Cinco de Mayo is given in Figure 9-1.

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Figure 9-1. Cross Section of the geology of Cinco de Mayo deposit.

10.0 EXPLORATION

All exploration and related activities commissioned before 2006 by MAG Silver Corp. on the Cinco de Mayo Property have been completed by Minera Cascabel S.A. de C.V. a privately held Mexican company providing geological consulting services since 1988. All airborne and ground geophysical surveys conducted on the project since late 2006 were directly contracted and supervised by MAG Silver. Exploration work completed to April 2008 includes: diamond drilling, rock sampling and airborne geophysics (total field magnetics and EM).

Exploration work at Cinco de Mayo has used three concepts to guide drilling: CRD deposit model (see section 8.0), geochemical sampling and geophysics. There is virtually no outcrop at Cinco de Mayo save for the prominent range-front jasperoid outcrops and a narrow limestone ridge (Cerro Cinco de Mayo) containing two small historic mines. Exploration work in the covered areas is largely “blind” and necessitates using geochemical and geophysical techniques to trace mineralization beneath this thin cover.  Soil sampling along the eastern edge of Sierra Santa

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Lucia has identified Ag, Cu, Pb and Zn anomalies suggesting mineralization below surface (Figures 10-1 to 10-4).

Figure 10-1. Ag (ppm) anomalies at Cinco de Mayo.

Figure 10-2. Cu (ppm) anomalies at Cinco de Mayo.

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Figure 10-3. Pb (ppm) anomalies at Cinco de Mayo.

Figure 10-4. Zn (ppm) anomalies at Cinco de Mayo.

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Exploration is guided by MAG's airborne magnetic survey with Reduced-to-Pole, Calculated First Vertical Derivative and Tilt Derivative filtering (Figures 10-5 to 10-7). The magnetic surveys revealed a number of prominent linear anomalies and magnetic lows that are being systematically drilled (http://www.magsilver.com). The strong linear north west-trending magnetic low corresponds to the trace of the low-angle Jose Thrust Fault between siliclastics to the northeast and limestone to the southwest (Figure 10-7).  The Jose Manto mineralization lies along this linear low that runs over 3 km through drill hole CM07-20 to the southeast to previously reported sulphide-rich and hornfels intercepts (See Press Release of February 19, 2007) (Figure 10-6). The blue magnetic low in the reduced to pole aeromagnetics map southeast corner and central part correspond to pyrrhotite anomalies associated with CRD mineralization (Figure 10-5) (http://www.magsilver.com). A second linear EM conductor anomaly corresponds to Jasperoid Thrust Fault exposed along the range front (Figure 10-5).

Many drill holes were targeted on an elongated magnetic low that appears to coincide with two of a series of parallel regional thrust faults. Mineralization is associated with hornfels and skarn alteration. Mineralization does not appear to extend across the north eastern thrust and both hornfels and skarn alteration strengthen to the southeast between these faults.

In 2008, it is proposed to start with 50 m drilling offsets of drill hole CM07-20. The drill program will continue to systematically offset the manto style mineralization intersected in drilling while simultaneously testing geophysical anomalies along the structural trends identified in drilling and from the magnetics.

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Figure 10-5. 2007 drilling overlain on a Reduced-to-Pole Aeromagnetics Map

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Figure 10-6. Airborne magnetics on Ikonos satellite imagery.

Figure 10-7. Aeromagnetic Tilt Derivative map (with gravity contours)

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11.0 DRILLING

MAG drill program at Cinco de Mayo confirmed that a significant Carbonate Replacement Ag, Pb and Zn system underlies the alluvium covering 75% of the Cinco de Mayo property area. All of the mineralization intersected in drilling to date was initially identified as buried (blind) geophysical and geochemical anomalies that were consistent with MAG’s exploration model. Drilling highlights for 2007-2008 holes are given in Tables 11-1 and 11-2 and more detailed assay results from 2007 and early 2008 are given in Appendix 3. A map of the location of drill collars are also given in Appendix 3. This 43-101 report covers drill holes from January 2007 up to April 2008 (CM08-33) which is the time of CCIC’s site visit to the property. Drill holes after May 2008 will be covered in a future report.

2007 Drilling

A 12-hole, 6,316 m drill program was conducted in 2007 and results appeared to define a massive sulphide manto ("blanket") now referred to as the Jose Manto. The sulphide manto was first identified in Drill Hole CM07-20. Drill Hole CM07-20 was collared to test a geophysical target identified by an airborne geophysical survey. This hole intersected 6.8 m (estimated true thickness) of galena and sphalerite-rich massive sulphides grading 254 g/t (7.4 ounces per ton (opt)) Ag, 6.4% Pb and 7.0% Zn (Figure 11-1). This includes a compositionally distinct interval, 2.12 m thick, grading 512 g/t (15.9 opt) Ag, 12.15% Pb and 13.10% Zn.

Drill Hole CM07-21, drilled nearly 1 km to the southwest of drill hole CM07-20 (and started before hole CM07-20 reached massive sulphides) tested the down-dip projection of prominent exposures of shallow northeast-dipping Au- and Ag-bearing iron rich jasperoid that is exposed for 4 km along the front of the adjoining range (Figure 11-1). At roughly 150 m vertical depth, this hole intersected 15 m of altered limestone, which contained a 1.0 m thick zone grading 684 g/t Ag (20 opt) with minor base metals. Drill Hole CM07-14 drilled 1,300 m to the southeast from Drill Hole CM07-21 also tested the projection of the jasperoid zone and reported 3.22 m of 94 g/t Ag (2.74 opt) and 0.23% Pb and 1.03% Zn in gossan.

The first two 50 metre step-outs from CM07-20 also intersected mineralization in the same relatively flat-lying structure. Drill Hole CM08-22, a 50 m down-dip offset, hit 7.1 m of multi-stage massive sulphide breccia cut by calcite veins. Drill Hole CM08-23, a 50 m offset to the northwest, hit 0.85 m of banded massive sulphides (Figure 11-2). All three intercepts lie at about 400 m vertical depth and appear to define a coherent massive sulphide manto ("blanket") developed within a low-angle fault cutting strongly folded limestone. Textural evidence for multiple mineralization stages is strong. Mineralization is open in all directions.

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The intercepts in drill holes CM07-21 and CM07-14 fall on the up-dip projection (over 1,000 m) of the sulphide manto intersected in drill holes CM07-20, CM08-22 and CM08-23, indicating that the sulphides, Ag-infused limestone of drill hole CM07-21, and jasperoid outcrops all occur within the same low-angle fault zone. Notably, this alteration to mineralization transition is similar to that seen in the distal fringes of several important Ag-, Pb- and Zn-rich massive sulphide CRD’s of the region.

Table 11-1. Drilling highlights from 2007 drilling program for Cinco de Mayo.

Hole No.	From (m)	To (m)	interval (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (g/t)
CM07-10	238.75	239.75	1.00	46.60	2.56	4.54	0.132
CM07-12	287.50	288.30	0.80	22.90	0.10	0.80	0.011
CM07-13	126.25	128.25	2.00	15.80	0.06	0.06	2.820
CM07-14	171.80	175.02	3.22	93.90	0.23	1.03	0.006
CM07-14	173.10	175.02	1.92	138.80	NSV	NSV	0.005
CM07-15	544.60	545.60	1.00	4.80	0.24	0.01	<0.005
CM07-15	639.25	643.05	3.80	2.90	0.08	0.05	0.040
CM07-17	138.75	139.35	0.60	47.80	0.01	0.03	<0.005
CM07-20	470.87	477.74	6.87	254.20	6.39	7.02	0.080
CM07-20	474.97	477.09	2.12	512.00	12.15	13.10	0.184
CM07-21	143.60	144.60	1.00	684.00	NSV	NSV	0.022
CM07-21	146.70	147.75	1.05	37.60	NSV	NSV	0.006
CM07-21	151.80	152.80	1.00	36.70	0.11	0.10	0.076
True width of CM07-20 for 6.87 m interval is 6.8 m; true width for 2.12 m interval is 2.1 m.
The rest of the intercepts are believed to be true widths.

from www.magsilver.com

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Figure 11-1. Sketch of drill holes CM07-20, 14, 21 and 08-22.

from www.magsilver.com

2008 Drilling

MAG's ongoing drill program is focused on expanding the "Jose Manto" mineralization discovered with hole CM07-20 in late 2007 and subsequently intersected in holes CM08-22 through CM08-28 (www.magsilver.com, press release July 8, 2008) (Table 11-2). Six holes (CM08-29, and holes CM08-35 through CM08-39) extend the Jose Manto to an area of at least 300 m by 400 m and mineralization in outlying hole CM08-32 may extend this is an additional 600 m to the southeast.

A drill plan showing location of drill collars relative to the hornfels alteration envelop is given in Figure 11-2. Long section and cross sections of drill holes intersecting mineralization within the Finlay formation are given in Figures 11-3, 11-4 and 11-5. A 3D image of the mineralized bodies at depth is given in Figure 11-6.

All intercepts of mineralization in 2008 lie at about 400 to 550 m vertical depth and appear to define a coherent massive sulphide sheet ("manto") developed within a low-angle fault cutting strongly folded limestone. Most of the holes have cut multiple, closely spaced, high grade massive sulphide intersections within limestones of the Finlay Formation, with the thickest and

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most persistent occurring near its upper and lower contacts. Textural evidence for multiple mineralization stages indicative of a large system is strong.

A picture of the Jose Manto is starting to emerge. The manto or "sheet" appears to be elongated in a northwest to southeast direction with a higher grade core approximately 150 to 200 m wide. The "Jose" zone is encased by an alteration halo and alteration intensity and geophysics are being used to trace mineralization back towards an inferred buried mineralizing intrusive centre. The approach taken for this early exploration phase is to drill systematic 50 to 100 m offsets of the better holes to best define the axis of maximum thickness of the manto and follow it to its source.

Significantly, drill hole CM08-32, a 600 metre step-out to the southeast along the projection of the Jose Manto Trend, returned 4.03 m of 80 g/t (2.3 opt) silver, 2.54% lead and 2.85% zinc. This mineralization occurs at the same depth and in the same limestone unit as the Jose Manto, and 50 m offset drilling is underway to find the axis of mineralization before attempting to link this intercept back to the main body of the Jose Manto.

Table 11-2. Drilling highlights from 2008 drilling program for Cinco de Mayo.

Hole No.	From (m)	To (m)	interval (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (g/t)
CM08-22	382.15	382.65	0.50	247.00	5.28	4.01	0.067
CM08-22	401.10	403.88	2.78	209.00	6.15	6.55	0.051
CM08-23	381.60	382.33	0.73	464.00	13.00	13.20	0.120
CM08-24	338.93	339.73	0.80	15.80	0.86	1.58	0.008
CM08-24	346.77	347.77	1.00	67.00	1.76	0.34	0.506
CM08-25	352.24	352.48	0.24	1690.00	16.45	5.02	0.100
CM08-25	370.32	371.25	0.93	424.00	10.15	19.75	0.160
CM08-27	443.05	444.40	1.35	219.00	4.60	12.49	0.120
CM08-28	483.42	487.42	4.00	192.00	4.22	11.65	0.260
CM08-28	511.43	517.30	5.87	92.00	1.57	2.11	0.030
CM08-28	549.22	549.67	0.45	1400.00	20.00	3.28	0.005
CM08-28	555.88	559.11	3.23	103.00	2.71	2.95	0.034
CM08-29	487.13	490.69	3.56	95.00	1.85	3.35	0.040
including	487.13	487.51	0.38	623.00	13.45	13.55	0.050
CM08-29	498.13	507.98	9.85	51.00	0.80	1.89	0.040
including	505.70	506.03	0.33	302.00	6.29	14.60	0.200
Including	500.54	503.52	2.98	43.00	0.24	1.19	0.040
including	505.70	506.03	0.33	302.00	6.29	14.60	0.200
CM08-29	515.28	522.20	6.92	77.00	0.66	2.49	0.480
CM08-29	523.75	524.33	0.58	127.00	1.04	11.55	0.070
CM08-32	590.33	594.36	4.03	80.00	2.54	2.85	0.250
Including	590.33	592.76	2.43	266.00	3.96	4.16	0.300
Including	590.33	591.03	0.70	504.00	7.87	4.35	0.580
CM08-32	596.16	596.46	0.30	209.00	3.72	2.66	0.860

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CM08-32	688.29	689.57	1.28	49.00	0.14	2.62	0.050
CM08-32	707.64	708.74	1.10	114.00	1.41	0.93	0.010
The intercepts are believed to be true widths.

from www.magsilver.com

Figure 11-2. Cinco de Mayo drill core for drill hole CM08-23 showing massive sulphides.

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Figure 11-3. Cinco de Mayo drill plan.

www.magsilver.com, press release: July 8, 2008

Figure 11-4. Long section for drill holes CM08-27, 23, 25, 26 and CM07-20.

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Figure 11-5. Cross section for drill holes CM07-20, CM08-22, 24, 28.

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Figure 11-6. Drill Sections showing location of Ag, Pb, Zn mineralized zones.

12.0 SAMPLING METHOD AND APPROACH

Work completed thus far by MAG on the Cinco de Mayo Property includes:

1.

Grab sampling of outcrop

2.

Systematic chip and channel sampling of outcrop

3.

Systematic chip and channel sampling of trenches

4.

Sampling diamond drill core

Sampling Procedure

The Company has in place a quality control program to ensure best practices in sampling and analysis. Samples are collected by employees of consulting firm Minera Cascabel S.A. de C.V. on behalf of MAG Silver Corp. All samples (including diamond drill core) are tagged, flagged and bagged in the field for shipping. Relevant descriptive information, including GPS location data using NAD 27 Mexico UTM Zone 13 coordinates, is recorded on custom pre-printed sample ID cards with a unique sample number. These are archived to serve as a permanent record. Sample locations are marked in the field by aluminium metal tags engraved with the sample number.  

The surface rock samples are shipped directly in security sealed bags to ALS-Chemex Laboratories preparation facilities in Hermosillo, Sonora or Chihuahua City (Certification ISO 9001). Sample pulps are shipped from there to ALS-Chemex Laboratories in North Vancouver, Canada for analysis. All samples were assayed for gold by standard fire assay-ICP finish with a

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50 g charge. Gold values in excess of 3.00 g/t were re-analyzed by fire assay with gravimetric finish for greater accuracy. Silver, zinc, copper and lead values in excess of 100 ppm, 1%, 1% and 1% respectively are also repeated by fire assay.

The sampling protocol used by MAG on the Cinco de Mayo Property is completely appropriate for the types of surveys completed to date. Channel samples, composite channel samples and diamond drill core sample values reported here are sample lengths (down-hole sample lengths). Understanding of the geometry of the mineralized zones being explored is at an early stage and sample lengths are not intended to reflect true lengths or widths of mineralized zones.

Use of standards, duplicates and blanks

There are no standards for drill holes earlier than CM08-38, because MAG did not have any material and only found a place in Australia that made base metal-silver standards at that time.  Before that MAG inserted the duplicates and blanks and used the lab standards. MAG currently inserts one standard every 40-50 samples - and a minimum of 1 per hole.

MAG has no way to make any kind of homogenized duplicates on site.  The original sample is a normal half split of the core and the duplicate is a half split of the reserved section.  Therefore if the mineralization is not homogeneous in the sample there will be variations between the original and duplicate. In the past, MAG has recovered both pulps and rejects and sent about 2.5 -5% of each to a different lab to check the sample prep (rejects) and the duplication (pulps). Also MAG re-submitted some pulps to the same laboratory to check reproducibility.

The blanks are unmineralized limestone from a different project. This is split and submitted along with the normal samples.

MAG is trying to avoid sample number mix ups by the lab. MAG verifies the sample weight of the standards. The lab receives 50 g of standard and in some cases they reported the correct weight with the sample number but the results were for one sample before or after this. 

MAG is also working with the lab to avoid contamination/carry over from high grade samples.
MAG now requests a clean sand run after all massive sulfide samples.  The geologist specifies the list of samples which meet the criteria for the clean sand run.

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13.0 SAMPLE SECURITY, PREPARATION, AND ANALYSES

Sample chain of control was maintained by Minera Cascabel from the sample collection point until delivery to a representative from the analytical laboratory or until shipping directly to the sample preparation facility. Samples were bagged individually and tagged in the field then immediately collected into larger rice bags to be stored at the Minera Cascabel field camp until bulk-shipped or transported. While stored in Minera Cascabel’s field camp, these “rice sacks” were tightly sealed using strapping tape which was immediately marked with an indelible marker in a unique manner to avoid tampering.

All diamond drill core was split manually at the field camp facility.  All mineralized core was split using a rock saw.   After the core was split, one half was put into a sample bag and the other half was returned to the core tray.  The core splitter was thoroughly cleaned after each sample was collected.  Each sample was completely described on a card with the appropriate sample number.  

All core is stored at a separate core storage facility in Benito Juárez.  The facility is a warehouse with a roll-down door with 2 locks that are secured after core is moved from logging/sampling facility.  There is no security guard in place.  Given the population of Benito Juárez (approximately 5000), there is no need for 24 hour security.  The storage facility is visited by Minera Cascabel staff periodically each day.

Samples are prepared and analyzed using conventional methods by ALS-Chemex, a widely used and accredited laboratory. Sample preparation and analysis procedures included the following steps:

a)

Samples were weighted and dried at 150°C for about 8 hours.

b)

Samples were crushed to a minimum of 75 % -10 mesh.

c)

Crushed samples were split to provide a 250-gram representative sample.

d)

250-gram samples were then pulverized to a minimum of 95% -150 mesh.

e)

Pulverized samples were bagged and shipped to Vancouver B.C.

f)

30 grams of the pulverized samples were analyzed by standard fire assay/atomic absorption or gravimetric finish for gold with ICP analyses for 30 additional elements.

g)

The results were reported in parts per million (ppm) Ag, Cu, Pb and Zn, or percent (%) Cu, Pb, and Zn.

h)

Silver, zinc, copper and lead values in excess of 100 ppm, 1%, 1% and 1% respectively are also repeated by fire assay.

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The preparation of the samples through to the production of the 250 g pulp was completed at the ALS Chemex Laboratory facility in Hermosillo, Sonora State, Mexico. The pulps were shipped to Vancouver, Canada for ICP analysis.

14.0 DATA VERIFICATION

A site visit was completed by B. Leonard on April 23 and 24, 2008.   Selected mineralized showings were visited and sampled and the diamond drill rigs were also visited.  Diamond drill core, historic reports, maps and sampling results were examined in the Company’s field camp located in Benito Juárez.  Security measures were reviewed as well as sampling procedures. Photos from the site visit are given in Appendix 5.

ALS Chemex completed routine quality assurance and control through the process of sample preparation and analysis. This included, but is not limited to, air quality testing, sieve testing of coarse crushed and pulverised samples, preparation of sample blanks, and numerous analytical calibrations. Analyses of internal blanks and standards were reported to MAG with the associated analytical data.

Minera Cascabel inserted a field blank (an unmineralized portion of the diamond drill core) into the sample stream at regular intervals (every 20^th sample) and alternated this with a sample duplicate from a previously sampled section of diamond drill core further up-hole (every 25^th sample).  A sample standard is inserted into the sample stream every 40^th sample.  Appendix 4 lists the standard parameters.  There were no apparent issues with data quality.

Data files were transmitted via a secure network connection between ALS Chemex and Minera Cascabel and MAG.  Analyses were also received as hard copy certificates. The digital data files were merged with sample location and description data. Analytical data on assay certificates were checked against the data in the merged sheets.  

Four samples were collected during the property visit and submitted to Accurassay in Lively, Canada for analysis (Table 14-1). The precious and base metal values obtained from the samples are completely consistent with the values of samples taken previously by Minera Cascabel (see Appendix 3).  Also during the site visit, the GPS locations for a number of sample locations were taken and checked against recorded values. All check values compared to original values within the limits of GPS accuracy.  

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Table 14-1. Sample assays from site visit April 2008.

sample number	northing	easting	Au (ppb)	Ag (ppm)	Cu (ppm)	Pb (ppm)	Zn (ppm)	Description
269029	3342994	305957	42	13.05	504	536	4429	SM-68: qtz/ barite with malachite stain
269030	3342962	305965	875	3.95	20	75	137	SM-70?
269031	3344132	305119	74	79.31	965	26361	7414	"Mine" area-rusty silicified material from dump
269032	3344875	304175	25	23.55	158	5332	1439	SM-54: dump area-silicified bx jasperoidal rock
269033	3344933	304145	17	0.5	7	848	46	SM-53: silicified bx jasperoidal rock with minor limonite
269034	3342146	308514	2.5	7.03	64	1571	951	rusty limonitic rock from dump
269035	3343487	307838	67	114.89	4367	56638	15928	rusty limonitic rock from dump
269036	3343433	307889	2.5	6.49	122	4280	1537	jasperoidal silicified lens grab

The original, signed version of the site visit assay is given in Appendix 5.

15.0 ADJACENT PROPERTIES

Cinco de Mayo is a 15,000 hectare CRD prospect located in Chihuahua State. It occurs proximal to the highly favourable western edge of the Chihuahua trough which hosts several large (all greater than 25 million tonnes), operating CRD mining districts including Naica, Santa Eulalia and Bismark. The following list of adjacent properties was provided to CCIC by Dr. P.K.M. Megaw (personal communication, August 2008).

The qualified persons for this report have been unable to verify information regarding adjacent properties and the information on mineralization for adjacent properties is not necessarily indicative of mineralization on Cinco de Mayo property.

15.1 Active Operations

Bismark Zn Mine

The Bismark mine is a CRD and a major Zn-rich skarn system located in the northwest end of the state of Chihuahua near Ascención (Figure 7-2). It is located about 80 km north of Cinco de Mayo property. The Bismark mine is operated by Minera Bismark S.A. de C.V., a subsidiary of Peñoles and is 100% owned by Peñoles. The mine has been in production since 1990. Its main metal is Zn, but it also produces Cu, Pb and Ag. In 2007, Bismark underground mine milled a total of 696,226 tons of ore which included 40,851 tons Zn, 2,202 tons Cu, 120 ton Pb and 12,074 kg Ag (www.penoles.com.mx).

Near the 75th hole, around the perimeter of the intrusion, they drilled the center of a strong ground magnetic anomaly and found a blind Zn contact skarn deposit with initial proven and probable reserves in excess of 8.6 M tonnes at almost 8.5% Zn (www.imdex.com/Companies/i/z_IndusPenoles.htm). The mine was developed by a ramp to take

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advantage of trackless underground LHD cut-and-fill mining using fleet of 8 scoop trams. Mine has 5 levels, the deepest around 420 m beneath the surface. It has always made a lot of water and needs to pump in excess of 13,000 gpm.

 
15.2 Historic Mines

San Pedro Corralitos mine

San Pedro Corralitos mine (Congreso-Leon workings) is a historic mine operated by Eagle Picher and closed in 1960’s. It is located in Nuevo Casas Grandes municipio in northern Chihuahua about 35 km northwest of Cinco de Mayo (Figure 7-2). It is a CRD with significant Pb-Zn-Ag-Au (to 8 g/T) with byproduct Ge (Germanium) and was intermittently explored for copper-skarn potential. Orebodies are irregularly shaped and carry Au, Ag and Pb (Wilson, 2004). The orebodies occur in contact zones between limestone and porphyritic felsic intrusive rocks, although there is little contact metamorphism present. The main orebodies occur in one particular bed of fossiliferous limestone along several intrusive contacts. San Pedro Corralitos is a famous mineral collecting locality for bright yellow botryoidal mimetite (Pb₅(AsO₄)₃Cl) on limonite gossan matrix discovered in 1968 (Wilson, 2004). The mine workings consist of 14 levels 40 feet apart and extending to a depth of about 420 meters (1365 feet) (Wilson, 2004). These are accessed by two main vertical shafts (the Congreso shaft to the 5th level, and the Laird shaft to below the 8th level) and an inclined shaft. Level 12 and below are flooded.

Candelaria mine

Candelaria mine is the northwestern part of the San Pedro District and is located about 90 to 100 km northwest of Cinco de Mayo. Sierra La Candelaria is composed of a dramatic Tertiary granite exposed cutting across the Cretaceous metamorphosed limestone. The intrusion developed a garnet skarn. It has skarn minerals such as calderite (Mn-Fe³⁺-garnet), idocrase, diopside, wollastonite, plagioclase, and magnetite (Royo, M. and Reyes, I., 1982).

Sierra Mojina Mine

Sierra Mojina Mine is located at Constitución in the Municpality of Ahumada, 20 km due south of Cinco de Mayo property.  It is a modest Pb-Zn-Ag deposit and the mine was closed in the 1950’s.  The land owner owns surface and mining rights, has no interest in exploration. Mojina mine is a famous mineral collecting locality for translucent blue celestine (SrSO₄) and calcite. According to New Mexico Geological Society field conference guidebook, Sierra de la Mojina shows a spectacular section of Lower Cretaceous carbonates, an operating manganese mill, and an abandoned silver mine (Cordoba et al., 1969).

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 15.3 Exploration Properties

Corpos 
Corpos is a CRD target in northern Chihuahua state with little or no active work. Corpos is located about 25 km northeast of Cinco de Mayo. Corpos property is one concession covering 10,000 ha and is 100% owned by EXMIN Resources Inc (www.EXMIN.com, Management’s Discussion & Analysis report dated Aug. 20, 2007).

Contencion

Contencion is a huge CRD-skarn target located in the next range south of the town of Benito Juárez. It is located 13 km south of Cinco de Mayo. Contencion has been worked intermittently for years by Peñoles, but no coherent discovery has been made yet.

 
Note: Exploration in this region was effectively frozen a year and a half ago when the Mexican Geological Survey put down a 4 million hectare claim that covers the entire eastern half of Chihuahua.

16.0 MINERAL PROCESSING AND METALLURGICAL TESTING

No mineral processing or metallurgical test work has been commissioned by MAG on potential ores from the project area.

17.0 MINERAL RESOURCE AND RESERVE ESTIMATES

CCIC is not aware of any historical resource or reserve estimates on the Property.

18.0 INTERPRETATION AND CONCLUSIONS

The Cinco de Mayo Property is located approximately 190 km north west of Chihuahua City, Chihuahua State, Mexico and consists of 14 concessions covering an area of 23,928.457 hectares.  Mr. Jose Maria Dozal Rascon is the owner of the Mining Lots comprising the Cinco de Mayo Property, which are currently under option to MAG Silver Corp.

Cinco de Mayo is located along the contact of the Sierra Madre Occidental and the Mexican fold thrust belt.  Sierra Madre Occidental is a large silicic igneous province which is the result of Cretaceous-Cenozoic magmatic and tectonic episodes. The Mexican fold thrust belt is mostly composed of Cretaceous carbonate rocks. Cinco de Mayo is also located within the Chihuahua trough which hosts several Carbonate Replacement Deposits (CRD’s). The Cinco de Mayo property is dominated by Cretaceous limestones.

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Exploration work in the covered areas is largely “blind” and necessitates using geochemical and geophysical techniques to trace mineralization beneath the cover.  In 2007, the Company completed 12 drill holes and 6,316 m program on the Cinco de Mayo property.  The highlight from this program of widely spaced holes was drill hole CM07-20 which intersected 6.8 m (estimated true thickness) of galena and sphalerite-rich massive sulphides grading 254 g/t (7.4 ounces per ton (opt)) Ag, 6.4% Pb and 7.0% Zn (Figure 11-1). This includes a compositionally distinct interval, 2.12 m thick, grading 512 g/t (15.9 opt) Ag, 12.15% Pb and 13.10% Zn.

MAG's ongoing drill program is focused on expanding the "Jose Manto" mineralization discovered with hole CM07-20 in late 2007 and subsequently intersected in holes CM08-22 through CM08-28 (www.magsilver.com, press release July 8, 2008) (Table 11-2). Six holes (CM08-29, and holes CM08-35 through CM08-39) extend the Jose Manto to an area of at least 300 m by 400 m and mineralization in outlying hole CM08-32 may extend this is an additional 600 m to the southeast.

It is concluded by CCIC that the Cinco de Mayo Property is a high quality, early stage, exploration project and that future exploration programs should be pursued aggressively.

Given the fact that early in the stages of application of a systematic exploration program MAG has made new discoveries, CCIC concludes that, given the size of the project area, significant potential remains for early stage discovery on the Cinco de Mayo Property

19.0 RECOMMENDATIONS

Based on the conclusions that the Cinco de Mayo Property is a high quality, early stage exploration project and that potential exists to a) continue to make early stage discoveries and b) to advance known prospects within the Project area with additional diamond drilling. The exploration budget for the Cinco de Mayo property for 2008 includes 8000 m of diamond drilling, geophysics surveys and geological mapping. CCIC supports the direction of the work plans being planned and conducted by MAG Silver Corp.

An IP (dipole-dipole) survey and down-hole IP mis-a-la-masse in the area around hole CM08-28

are also recommended to locate additional mineralization and delineate the mineralization trend.

CCIC recommends that rather than splitting drill core from a common interval to produce duplicates, MAG should use pulp duplicates. A split of drill core from a common interval does not always produce two identical samples, as mineralization is often variable. CCIC has noted that in the assays listed in Appendix 3, samples labelled as duplicates by MAG often have very different Pb and Zn values in high grade samples. A preferred method would be to ask the lab to split a

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homogeneous pulp into two samples (hopefully identical) to produce duplicates to be analyzed by the lab within the same batch to reproduce the same analytical conditions. This would test the lab’s reproducibility within a common batch. Alternatively, MAG may ask the lab to return pulps, which MAG could then add a second sample number to the pulp to produce the duplicate and resubmit it to the same lab to check for reproducibility over time or submit it to a second lab to check the overall analytical method of the first lab.

CCIC recommends that all of the drill hole assays and logs be compiled by MAG into one database. This will allow MAG to compare all of the assays for one standard or blank to check the performance of one particular element for a certain standard or blank over time. MAG will also be able to plot all duplicate assays (primary vs secondary) and add a regression curve to monitor performance of duplicates and easily identify duplicates which are different. A single database for all drill hole assays will also be required for 3D modelling and resource calculations in the future.

19.1 Exploration Budget

The following budget is estimated to cover the phases of exploration as outlined above. It is based on past (recent) expenditures incurred by Minera Cascabel on the Cinco de Mayo Property as well as estimated costs for drilling and support of a drilling operation. The exploration budget for the Cinco de Mayo property for 2008 includes 8000 m of diamond drilling, geophysics surveys and geological mapping.

Table 19-1. 2008 Exploration Budget for Cinco de Mayo.  

	Units	Cost	Total
Land / Payments / Tax	x	x	287,180.60
Geology	30.00	600.00	18,000.00
Geophysics/BHG	5.00	2,500.00	12,500.00
Geophysics/INTG	10.00	800.00	8,000.00
Labour/ Contract	100.00	250.00	25,000.00
Land Deals / Purchases	1.00	250,000.00	250,000.00
Drilling	8,000.00	185.00	1,480,000.00
GIS/Map/Processing	10.00	400.00	4,000.00
Ground Gravity	2,250.00	100.00	225,000.00
Miscellaneous	12.00	2,500.00	30,000.00
TOTAL			2,339,680.60

Data Source: www.secinfo.com; Mag Form 40-F, March 25, 2008

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20.0 STATEMENT OF AUTHORSHIP

This Report titled “Independent Independent Technical Report: Cinco de Mayo Property, Chihuahua State, Mexico", and dated October 15^th, 2008 was prepared and signed by the following authors:

"Julie Selway"

___________________________

Julie Selway, Ph.D., P.Geo.

Dated October 15^th, 2008

Sudbury, Ontario

"Bradley C. Leonard"

___________________________

Bradley C. Leonard, M.Sc., P.Geo.

Dated October 15^th, 2008

Sudbury, Ontario

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21.0 REFERENCES

Cordoba, D.A., Wengerd, S.A. and Shomaker, J. 1969. New Mexico Geological Society, Fall Field Conference Guidebook – 20^th conference, The Border Region : Chihuahua and the United States, 228 pp.

Haenggi, W.T. 2002. Tectonic history of the Chihuahua trough, Mexico and adjacent USA, Part II:

Mesozoic and Cenozoic, Boletín de la Sociedad Geológica Mexicana, tomo LV, num 1,

p. 38-94.

Lyons, J.I. 2007. Cinco de Mayo, Chihuahua, Mexico. Private report for MAG Silver Corp.

Lyons, J.I. 2008. Cinco de Mayo, Chihuahua, Mexico Stratigraphy. Private report for MAG Silver

Corp. July 3, 2008

MAG Silver Corp. 2008. Annual Information Form for fiscal year ending December 31, 2007 on SEDAR: http://www.secinfo.com/d15y4v.tn.6.htm#Dates

Megaw, P.K.M., 1998. Carbonate-hosted Pb-Zn-Ag-Cu-Au replacement deposits: An exploration

perspective: in, Lentz, D.R., ed., Mineralized intrusion-related skarn systems:

Mineralogical Association of Canada, Short Course Series v. 26, Quebec City, 1998, p.

337-358.

Megaw, P.K.M., 2002. IMDEX/Cascabel’s Cinco de Mayo Property, Municipio villa Ahumada,

Chihuahua, Mexico, Private Report.

Megaw, P.K.M., Barton, M.D., & Islas-Falce, J. 1996. Carbonate-hosted lead-zinc (Ag, Cu, Au)

deposits of Northern Chihuahua, Mexico. In Carbonate-Hosted Lead-Zinc Deposits. (D.F.

Sangster ed.). Society of Economic Geologists,  Special Publication No. 4,  1996, 277-289.  

Megaw, P.K.M., Ruiz, J., & Titley, S.R. 1988. High-temperature, carbonate-hosted, Pb-Zn-

Ag massive sulfide  deposits of Mexico: An overview. Econ. Geol. 83, 1856-1885.

Wilson, Wendell E. 2004. Famous mineral localities: San Pedro Corralitos, Chihuahua, Mexico.The Mineralogical Record, vol. 35(6), pages 5-28.

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APPENDIX 1

CERTIFICATE OF QUALIFICATIONS

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MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

Julie Selway

17 Frood Road, Suite 2

Sudbury, Ontario, Canada, P3C 4Y9

Telephone: 705-671-1801

Email: jselway@cciconline.ca

CERTIFICATE OF AUTHOR

I, Julie Selway, do hereby certify that:

1.

I am a Senior Project Geologist for the geological consulting firm of Caracle Creek International Consulting Inc. Canada (CCIC).

2.

I hold the following academic qualifications: B.Sc. (Hons) Geology (1991) Saint Mary’s University; M.Sc. Geology (1993) Lakehead University; Ph.D. Mineralogy (1999) University of Manitoba.

3.

I am a member of the Association of Professional Geoscientists of Ontario (Member #0738). I am a member in good standing of the Mineralogical Association of Canada, Geological Association of Canada and Mineralogical Society of America.

4.

I have worked as a geologist for 15 years with academia and industry on a variety of exploration properties such as gold, Ni-Cu-PGE and rare-element pegmatites.

5.

I have had no prior involvement with the Property that forms the subject of this Technical Report.

6.

I am not aware of any material fact or material change with respect to the subject matter of the Technical Report that is not reflected in the Technical Report, the omission to disclose which makes the Technical Report misleading.

7.

I am independent of the parties involved in the transaction for which this report is required, other than providing consulting services.

8.

I have read NI-43-101 and Form 43-101F1, and the Technical Report has been prepared in compliance with that instrument and form.

9.

I am jointly responsible for the preparation of the Technical Report titled “Independent Technical Report Cinco de Mayo Property, Chihuahua State, Mexico”, dated October 15, 2008 and prepared for MAG Silver Corp.

10.

I consent to the filing of the Technical Report with any stock exchange and other regulatory authority and any publication by them, including electronic publication in the public company files on their websites accessible by the public.

Dated this 15^th Day October, 2008.

Respectfully Submitted

SIGNED AND SEALED

“Julie Selway”_________

Julie Selway, Ph.D., P.Geo.

Senior Project Geologist, CCIC Canada

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Independent Technical Report – Cinco de Mayo, Mexico

Brad Leonard M.Sc., P.Geo

17 Frood Rd Suite 2

Sudbury, Ontario,

Canada, P3C 4Y9

Telephone: 705-671-1801

Email: bleonard@cciconline.ca

CERTIFICATE OF AUTHOR

I, Brad Leonard, do hereby certify that:

1.

I am the Exploration Manager of the geological consulting firm of Caracle Creek International Consulting Inc. Canada (CCIC).

2.

I hold the following academic qualifications:

B.Sc. (Hons) Geology (1983), University of Toronto, Toronto, Ontario, Canada

M.Sc. Geology (2007), Laurentian University, Sudbury, Ontario, Canada

3.

I am a member of the Association of Professional Geoscientists of Ontario (Member #0927).

4.

I have worked in the mineral exploration industry for more than 24 years as a geologist and project manager on a variety of exploration programs searching for various commodities including gold, VMS, Cu-Ni, and diamonds.

5.

I have had no prior involvement with the Property that forms the subject of this Technical Report.

6.

I am not aware of any material fact or material change with respect to the subject matter of the Technical Report that is not reflected in the Technical Report, the omission to disclose which makes the Technical Report misleading.

7.

I am independent of the parties involved in the transaction for which this report is required, other than providing consulting services.

8.

I have read the definition of “qualified person” set out in National Instrument 43-101 (“NI 43-101”) and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements as a Qualified Person for the purposes of NI 43-101.

9.

I am jointly responsible for the preparation of all sections of the technical report titled “Independent Technical Report Cinco de Mayo Property, Chihuahua State, Mexico”, dated October 15, 2008 and prepared for MAG Silver Corp.

10.

I have no direct or indirect interest in the Property, nor do I expect to receive any direct or indirect interest in the Property.

11.

I most recently visited the Property on April 24 and April 25, 2008.

12.

I consent to the filing of the Technical Report with any stock exchange and other regulatory authority and any publication by them, including electronic publication in the public company files on their websites accessible by the public.

Dated this 15^th Day of October, 2008.

Respectfully Submitted

SIGNED AND SEALED

“Brad Leonard”__________                  

Brad Leonard, M.Sc., P.Geo.

Exploration Manager, CCIC Canada

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Independent Technical Report – Cinco de Mayo, Mexico

APPENDIX 2

ANALYTICAL RESULTS FROM SURFACE SAMPLING

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SAMPLE	EAST	NORTH	WIDE(M)	TYPE	Au	Ag	Pb	Zn	Cu	As	Sb	Hg	Ba
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm
5M-1	307839	3340624	2.00	Chanel	0.005	0.6	78	63	8	182	204	1	1350
5M-2	307851	3340634	0.80	Chanel	0.007	0.9	126	116	11	267	262	3	2930
5M-3	307727	3340667	3.00	Chanel	0.005	0.5	15	30	4	150	64	1	70
5M-4	307727	3340668	1.50	Chanel	0.009	2.9	46	30	4	80	41	1	2380
5M-5	307589	3340918	0.60	Chanel	0.005	0.4	28	23	4	246	182	6	240
5M-6	307561	3340950	1.00	Chanel	0.018	1.5	293	70	19	28	57	3	1840
5M-7	307389	3341293	0.50	Chanel	0.007	0.2	6	6	3	21	48	1	280
5M-8	307362	3341329	0.90	Chanel	0.01	0.2	10	8	6	114	76	1	200
5M-9	307311	3341372	0.60	Chanel	0.03	0.2	21	21	4	251	177	1	120
5M-10	307055	3341683	0.45	Chanel	0.171	0.2	5	12	4	78	28	2	460
5M-11	306507	3342303	1.00	Chanel	0.062	0.2	7	23	7	63	108	2	30
5M-12	306538	3342309	1.20	Chanel	0.456	0.5	7	151	7	283	429	1	40
5M-13	306431	3342434	2.00	Chanel	0.233	0.6	222	35	7	229	165	5	790
5M-14	306431	3342434	2.00	Chanel	0.012	2.1	748	959	34	6	5	1	3520
5M-15	306431	3342436	2.00	Chanel	0.01	1.3	373	1925	32	11	5	1	780
5M-16	306125	3342840	1.00	Chanel	0.052	4.1	738	1680	68	29	25	2	3800
5M-17	308452	3337665	1.00	Chanel	0.064	0.9	167	731	46	697	487	1	1750
5M-18	304671	3341957	1.00	Chanel	0.067	0.6	748	187	70	5	5	3	1140
5M-19	304676	3341959	1.80	Chanel	0.114	13.4	1540	1040	109	7	7	<1	2470
5M-20	304677	3341960	1.70	Chanel	0.075	18.9	200	76	36	24	9	<1	1020
5M-21	304664	3341955	1.00	Chanel	0.014	3.3	2810	347	65	7	4	<1	90
5M-22	304652	3341958	1.20	Chanel	3.04	69.3	13.5	3260	1735	11	32	6	70
5M-23	304602	3341958	1.00	Chanel	0.304	26.9	3080	3230	99	16	7	15	1960
5M-24	305881	3342726	1.20	Chanel	0.138	0.5	534	32	11	4	13	<1	140
5M-25	305911	3342635	1.70	Chanel	0.383	1.8	71	91	10	111	27	<1	160

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SAMPLE	EAST	NORTH	WIDE(M)	TYPE	Au	Ag	Pb	Zn	Cu	As	Sb	Hg	Ba
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm
5M-26	305957	3342572	1.20	Chanel	0.011	<0.2	44	11	3	<2	5	<1	30
5M-27	306101	3342303	1.00	Chanel	0.054	0.8	23	10	2	7	5	3	30
5M-28	306299	3342138	0.50	Chanel	0.319	0.9	21	11	583	73	114	1	90
5M-29	306283	3342109	1.00	Chanel	0.655	1.2	30	118	15	93	43	1	170
5M-30	306283	3342109	2.00	Chanel	0.916	0.8	130	205	17	167	88	<1	190
5M-31	306705	3341801	1.00	Chanel	0.057	0.4	19	18	5	114	56	<1	380
5M-32	305927	3341844	1.00	Chanel	0.556	39.9	7.99%	852	616	5	25	<1	250
5M-33	305936	3341848	1.20	Chanel	0.72	29.5	3.82%	3020	3170	5	18	1	330
5M-34	307030	3341879	1.20	Chanel	0.013	2.3	977	41	34	203	20	1	2080
5M-35	307030	3341873	3.00	Chanel	0.045	2.6	627	122	38	214	65	<1	2110
5M-36	306986	3341267	0.50	Chanel	0.052	0.7	55	50	16	18	6	<1	70
5M-37	306765	3341274	1.00	Chanel	0.402	0.6	612	258	30	62	40	<1	2580
5M-38	306762	3341252	1.20	Chanel	0.075	0.3	26	9	5	38	5	<1	90
5M-39	306730	3341448	1.60	Chanel	0.068	<0.2	58	96	6	136	104	<1	690
5M-40	307095	3340922	1.00	Chanel	0.024	0.2	12	21	2	50	14	<1	50
5M-41	307095	3340921	1.20	Chanel	<0.005	0.3	11	19	2	33	9	<1	50
5M-42	307095	3340920	1.50	Chanel	<0.005	0.2	11	5	2	43	6	<1	60
5M-43	307095	3340919	1.50	Chanel	<0.005	<0.2	10	7	2	26	6	<1	50
5M-44	307095	3340918	1.50	Chanel	<0.005	0.3	23	16	2	29	10	<1	100
5M-45	307064	3340813	1.50	Chanel	0.075	0.6	194	9	32	<2	18	2	150
5M-46	307064	3340812	1.50	Chanel	0.005	0.5	163	13	21	10	6	<1	90
5M-47	307064	3340811	1.40	Chanel	0.008	0.7	280	26	21	12	7	<1	70
5M-48	307284	3340631	2.00	Chanel	0.078	0.4	33	28	3	15	25	4	50
5M-49	307286	3340630	1.70	Chanel	0.225	0.3	28	48	3	20	36	2	80
5M-50	307288	3340500	1.50	Chanel	0.114	<0.2	39	41	4	83	144	<1	110
5M-51	307192	3340493	1.50	Chanel	0.068	<0.2	13	14	5	25	39	<1	2800

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Independent Technical Report – Cinco de Mayo, Mexico

SAMPLE	EAST	NORTH	WIDE(M)	TYPE	Au	Ag	Pb	Zn	Cu	As	Sb	Hg	Ba
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm
5M-52	307192	3340495	2.00	Chanel	0.016	<0.2	15	25	4	22	61	<1	280
5M-53	304149	3344931	2.00	Chanel	<0.005	1	261	218	3	14	5	<1	1720
5M-54	304171	3344883	2.40	Chanel	0.01	1.6	4510	2220	444	2170	62	<1	660
5M-55	304172	3344823	2.20	Chanel	0.029	1.7	260	414	23	54	7	1	2460
5M-56	304330	3344872	2.00	Chanel	0.164	31.6	9500	19100	156	2960	148	6	900
5M-57	304330	3344873	1.50	Chanel	0.109	19	2120	1210	88	451	63	2	1700
5M-58	304346	3344870	1.50	Chanel	1.955	171	3.63%	2900	175	1280	750	12	350
5M-59	304346	3344869	1.60	Chanel	0.486	6.6	4120	509	39	1450	168	1	630
5M-60	304346	3344868	1.40	Chanel	0.491	94.8	5.24%	137	21	2060	71	3	390
5M-61	304345	3344865	1.10	Chanel	0.267	22.3	5700	438	8	1725	183	7	450
5M-62	304163	3344405	1.00	Chanel	0.027	8.3	3350	2450	59	1660	19	<1	980
5M-63	304182	3344179	2.20	Chanel	0.009	0.7	224	514	5	26	7	<1	1960
5M-64	304182	3344179	2.00	Chanel	0.009	1	691	3150	35	43	8	1	2340
5M-65	304270	3344352	2.00	Chanel	0.07	1.8	172	1605	12	20	13	<1	2600
5M-66	304630	3343453	2.00	Chanel	0.23	1.7	270	1185	187	118	8	5	290
5M-67	304627	3343449	2.10	Chanel	0.024	0.6	74	280	18	97	3	11	190
5M-68	305957	3342992	2.30	Chanel	0.052	26.6	902	2970	2080	23	17	1	2020
5M-69	305972	3342963	2.00	Chanel	0.927	1.1	12	121	9	560	243	8	70
5M-70	305965	3342963	1.40	Chanel	1.875	1.9	8	147	11	517	307	5	50
5M-71	305943	3343001	2.10	Chanel	0.16	2	2490	1300	76	18	8	1	400
5M72	305927	3343008	1.80	Chanel	0.285	6.8	1515	252	33	99	34	2	3160
5M-73	305925	3343008	2.50	Chanel	0.069	6.6	2640	2210	114	22	16	1	3070
5M-74	305914	3343031	2.10	Chanel	0.206	5.2	2970	2940	178	123	116	<1	280
5M-75	305907	3343040	2.05	Chanel	0.055	4.1	1310	3150	48	22	7	<1	340
5M-76	305888	3343046	2.05	Chanel	0.412	2.9	726	3570	122	30	27	<1	750
5M-77	305888	3343055	1.00	Chanel	0.099	2.2	341	1890	20	57	21	<1	3510

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SAMPLE	EAST	NORTH	WIDE(M)	TYPE	Au	Ag	Pb	Zn	Cu	As	Sb	Hg	Ba
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm
5M-78	305873	3343073	2.00	Chanel	0.827	5.7	215	210	3010	138	131	1	4010
5M-79	305852	3343077		Dump	0.823	17.4	1.44%	6320	279	288	215	11	2790
5M-80	305833	3343111	2.40	Chanel	0.137	2.4	1270	869	30	73	64	1	2530
5M-81	305835	3343111		Dump	0.865	45.1	86200	522	561	708	78	58	310
5M-82	305840	3343114	1.30	Chanel	1.095	0.8	419	195	9	114	221	1	520
5M-83	305842	3343114	1.50	Chanel	0.332	1.7	1320	8030	29	100	189	1	3420
5M-84	305763	3343183	1.00	Chanel	1.735	9.8	1270	303	82	70	69	3	2550
5M-85	305765	3343180	1.70	Chanel	0.141	1.8	445	704	17	34	31	<1	2740
5M86	305767	3343178	2.20	Chanel	0.121	1	184	191	17	21	30	1	1360
5M-87	305721	3343191	1.50	Chanel	0.201	0.9	414	1185	17	293	250	3	320
5M-88	205723	3343193	1.70	Chanel	0.246	0.9	103	221	7	641	213	2	840
5M-89	305724	3343195	2.00	Chanel	0.094	1.3	948	7010	36	26	17	2	2810
5M-90	305805	3343155		Dump	0.625	202	2300	11700	13500	693	463	13	2700
5M-91	305800	3343155	1.2	Chanel	0.268	3.3	120	4410	157	360	309	5	740
5M-92	305800	3343155	1.1	Chanel	0.067	10.3	460	2050	178	61	69	2	2250
5M-93	305688	3343213	2.0	Chanel	0.294	2	1555	625	99	32	51	1	3740
5M-94	305688	3343213	1.7	Chanel	0.045	16.8	103	126	1635	15	22	1	2010
5M-95	305657	3343240	1.8	Chanel	0.243	2	1525	3440	99	28	26	1	1460
5M-96	305659	3343240	1.6	Chanel	0.461	2	841	365	35	83	110	1	1540
5M-97	305604	3343289	2.5	Chanel	0.157	1	1220	472	48	291	266	4	2840
5M-98	305586	3343306	2.6	Chanel	0.282	1.6	922	791	19	184	206	6	2390
5M-99	305524	3343331		Dump	0.413	2.8	1260	6360	88	613	310	16	3610
5M-100	305511	3343331		Dump	1.34	1	547	839	34	373	165	4	3380
5M-101	305246	3343472	2.00	Chanel	0.103	1.4	232	2820	20	73	17	<1	2630
5M-102	305352	3343646	2.50	Chanel	0.4	91.3	13700	99	29	119	69	7	1580
5M-103	305362	3343667	2.60	Chanel	0.042	6.2	788	4550	42	26	16	1	2900

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SAMPLE	EAST	NORTH	WIDE(M)	TYPE	Au	Ag	Pb	Zn	Cu	As	Sb	Hg	Ba
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm
5M-104	305355	3343668	2.50	Chanel	0.121	7.4	884	4430	1265	67	22	1	1560
5M-105	305312	3343710	1.50	Chanel	0.347	4.5	1730	2950	201	54	30	<1	2830
5M-106	305315	3343710		Dump	0.611	5.6	734	980	51	275	131	3	2890
5M-107	305217	3343761		Dump	0.279	154	1585	6290	26400	407	198	12	2400
5M-108	304440	3344710		Dump	0.042	1.4	33	306	1400	1550	236	8	1360
5M-109	304518	3344604	1.50	Chanel	0.055	1.6	324	254	158	329	31	<1	350
5M-110	304946	3343987	2.00	Chanel	0.038	19.1	2820	330	109	712	54	<1	310
5M-111	304981	3343920		Dump	0.275	98.3	33600	6100	256	2940	678	34	100
5M-112	305611	3343295		Dump	0.018	424	3290	3330	9470	151	222	2	980
5M-113	308676	3341010		Dump	0.018	369	8660	2090	9840	150	199	1	1200

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APPENDIX 3

ANALYTICAL RESULTS FROM DRILLING

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Drill Collars for Cinco de Mayo Property

Drill Collars for 2008 drill holes

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					Original Analysis (ME-ICP41)				Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																	GRA21	CON02
					Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-10	60571	14.03	15.03	1	0.5	2	39	19	0.7	2	46	23
CM07-10	60572	15.03	15.63	0.6	3.5	14	325	100	3.9	12	321	99
CM07-10	60573	15.63	16.63	1	<0.2	5	22	17	<0.5	<2	23	15
CM07-10	60574	52.43	53.43	1	0.2	3	24	8	0.8	3	21	8
CM07-10	60575	53.43	54.43	1	<0.2	3	32	15	<0.5	3	26	14
CM07-10	60576	54.43	55.43	1	<0.2	3	19	16	<0.5	3	21	16
CM07-10	60577	94.00	95.00	1	<0.2	7	37	52	<0.5	10	31	49
CM07-10	60578	95.00	96.00	1	<0.2	4	22	58	<0.5	9	20	60
CM07-10	60579	96.00	97.00	1	<0.2	5	19	30	<0.5	10	15	31
CM07-10	60580	97.00	98.00	1	<0.2	6	15	25	<0.5	10	13	25
CM07-10	60581	BLANK		0	<0.2	2	5	4	<0.5	3	<5	<5
CM07-10	60582	98.00	99.00	1	<0.2	5	18	23	<0.5	10	15	26
CM07-10	60583	99.00	100.00	1	<0.2	5	16	24	<0.5	8	11	25
CM07-10	60584	100.00	101.00	1	<0.2	3	16	36	<0.5	8	18	34
CM07-10	60585	DUPLICATE		1	<0.2	4	19	105	<0.5	7	16	102
CM07-10	60586	101.00	102.00	1	<0.2	4	17	26	<0.5	8	12	26
CM07-10	60587	102.00	103.00	1	<0.2	5	17	28	<0.5	9	14	29
CM07-10	60588	139.90	140.90	1	2.8	3	597	244	1.7	4	538	202
CM07-10	60589	140.90	141.40	0.5	0.7	2	103	89	1.1	3	97	76
CM07-10	60590	141.40	142.90	1.5	4.8	1	36	14	4.1	3	32	13
CM07-10	60591	142.90	143.90	1	2.2	1	14	9	1.9	2	16	9
CM07-10	60592	143.90	144.90	1	2.6	11	714	7	2.3	11	656	8
CM07-10	60593	144.90	145.90	1	1.9	2	39	10	2.3	3	36	10
CM07-10	60594	145.90	146.90	1	1.5	4	192	64	1.9	6	192	62
CM07-10	60595	151.00	152.00	1	2.3	3	489	5	2.4	3	426	<5
CM07-10	60596	152.00	153.00	1	2.1	3	124	37	2.4	4	119	34
CM07-10	60597	153.00	154.00	1	0.3	2	57	12	0.6	3	56	11
CM07-10	60598	154.00	155.00	1	<0.2	2	11	5	<0.5	2	15	<5
CM07-10	60599	155.00	156.00	1	<0.2	2	31	5	0.5	3	33	5
CM07-10	60600	156.00	157.00	1	0.9	9	264	90	1.2	11	244	82
CM07-10	60601	BLANK			<0.2	2	8	4	<0.5	2	8	<5
CM07-10	60602	157.00	158.00	1	0.5	2	34	10	0.8	3	36	10

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 65

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)				Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																	GRA21	CON02
					Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-10	60603	158.00	159.00	1	<0.2	2	9	7	<0.5	3	15	7
CM07-10	60604	159.00	160.16	1.16	2.4	26	131	130	2.5	21	117	105
CM07-10	60605	160.16	161.16	1	<0.2	2	65	15	0.5	3	60	14
CM07-10	60606	DUPLICATE		1	1	2	162	13	1	3	159	14
CM07-10	60607	161.16	162.16	1	<0.2	2	36	11	<0.5	3	33	10
CM07-10	60608	169.35	170.35	1	0.4	3	44	15	0.9	4	43	14
CM07-10	60609	170.35	171.35	1	0.4	5	70	19	0.7	2	60	16
CM07-10	60610	171.35	171.83	0.48	1.3	116	3650	608	1.8	107	3440	563
CM07-10	60611	171.83	172.43	0.6	0.4	9	173	34	2	10	169	32
CM07-10	60612	172.43	172.72	0.29	23.8	41	2030	21	16.1	32	1655	18
CM07-10	60613	172.72	173.72	1	1.1	6	192	27	1.6	5	175	24
CM07-10	60614	225.76	226.76	1	0.2	1	31	45	<0.5	3	32	45
CM07-10	60615	226.76	227.76	1	0.2	1	16	14	<0.5	2	23	15
CM07-10	60616	227.76	228.76	1	1.2	6	210	147	1	9	213	133
CM07-10	60617	228.76	229.76	1	0.3	2	14	10	<0.5	3	20	8
CM07-10	60618	229.76	230.76	1	<0.2	1	18	30	<0.5	2	23	30
CM07-10	60619	230.76	231.76	1	<0.2	1	9	8	<0.5	2	14	8
CM07-10	60620	233.26	234.26	1	<0.2	1	9	4	<0.5	2	12	5
CM07-10	60621	234.26	235.26	1	<0.2	3	186	27	<0.5	5	236	34
CM07-10	60622	235.26	236.26	1	<0.2	1	20	14	<0.5	3	24	15
CM07-10	60623	237.75	238.75	1	<0.2	1	17	14	<0.5	2	21	13
CM07-10	60624	238.75	239.75	1	52.7	209	>10000	>10000	46.6	168	>10000	>10000			2.45	4.26			2.56	4.54
CM07-10	60625	239.75	240.75	1	<0.2	1	51	48	<0.5	3	62	41
CM07-10	60626	240.75	241.75	1	<0.2	<1	11	16	<0.5	3	14	18
CM07-10	60627	248.74	249.74	1	<0.2	1	92	138	<0.5	3	80	110
CM07-10	60628	249.74	250.74	1	0.2	1	21	26	<0.5	3	20	16
CM07-10	60629	250.74	251.74	1	<0.2	2	26	23	<0.5	3	34	19
CM07-10	60630	251.74	252.74	1	<0.2	<1	11	7	<0.5	2	12	8
CM07-10	60631	BLANK			<0.2	<1	6	6	<0.5	3	8	7
CM07-10	60632	253.92	254.92	1	<0.2	<1	13	6	<0.5	2	12	<5
CM07-10	60633	254.92	255.42	0.5	0.7	6	183	45	0.6	6	184	44
CM07-10	60634	255.42	256.42	1	<0.2	<1	22	12	<0.5	2	26	21

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 66

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)				Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																	GRA21	CON02
					Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-10	60635	272.91	273.91	1	<0.2	2	15	9	<0.5	4	13	6
CM07-10	60636	273.91	274.41	0.5	0.6	10	97	31	0.6	11	91	28
CM07-10	60637	274.41	275.41	1	<0.2	1	12	6	<0.5	2	7	5
CM07-10	60638	275.41	276.25	0.84	<0.2	2	28	6	<0.5	4	28	7
CM07-10	60639	276.25	277.25	1	<0.2	1	17	18	<0.5	2	17	19
CM07-10	60640	277.25	278.25	1	0.4	4	47	19	<0.5	6	48	17
CM07-10	60641	278.25	279.25	1	<0.2	2	16	13	<0.5	3	17	11
CM07-10	60642	287.51	288.51	1	<0.2	1	13	45	<0.5	2	18	43
CM07-10	60643	288.51	289.40	0.89	<0.2	3	210	123	<0.5	4	221	117
CM07-10	60644	289.40	290.40	1	<0.2	1	6	4	<0.5	2	9	<5
CM07-10	60645	345.00	346.00	1	<0.2	1	31	32	<0.5	3	31	32
CM07-10	60646	346.00	347.00	1	<0.2	1	27	60	<0.5	3	21	51
CM07-10	60647	347.00	348.00	1	<0.2	1	48	34	<0.5	3	50	27
CM07-10	60648	348.00	349.00	1	<0.2	1	10	9	<0.5	3	12	9
CM07-10	60649	349.00	350.00	1	<0.2	2	105	41	<0.5	3	101	39
CM07-10	60650	350.00	351.00	1	<0.2	<1	18	23	<0.5	2	21	20
CM07-10	60651	BLANK		0	<0.2	5	3	3	<0.5	3	<5	<5
CM07-10	60652	351.00	352.00	1	1.5	3	285	94	1.7	5	275	84
CM07-10	60653	352.00	353.00	1	<0.2	2	57	16	<0.5	3	54	12
CM07-10	60654	355.45	356.45	1	<0.2	2	18	28	<0.5	3	21	25
CM07-10	60655	356.45	357.45	1	<0.2	3	135	73	<0.5	4	131	63
CM07-10	60656	357.45	358.45	1	<0.2	2	30	40	<0.5	4	34	36
CM07-11	80001	159.46	160.46	1	0.7	13	46	56	0.9	18	47	63
CM07-11	80002	160.46	161.46	1	1.5	12	197	170	1.4	13	197	160
CM07-11	80003	161.46	162.55	1.09	0.3	8	82	64	0.5	13	77	69
CM07-11	80004	162.55	162.99	0.44	1.3	11	63	131	1.5	16	76	138
CM07-11	80005	162.99	164.00	1.01	0.3	27	90	302	1.1	43	96	294
CM07-11	80006	164.00	164.90	0.9	0.6	49	56	207	0.9	54	70	221
CM07-11	80007	164.90	165.90	1	0.3	52	52	148	0.6	47	70	146
CM07-11	80008	187.28	188.28	1	<0.2	4	9	33	<0.5	11	11	53
CM07-11	80009	188.28	189.28	1	0.3	3	8	35	<0.5	9	10	60
CM07-11	80010	189.28	190.43	1.15	<0.2	7	5	56	<0.5	12	<5	72

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 67

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)				Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																	GRA21	CON02
					Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-11	80011	190.43	190.96	0.53	<0.2	125	4	58	<0.5	126	<5	78
CM07-11	80012	190.96	192.00	1.04	0.2	181	9	63	<0.5	206	8	77
CM07-11	80013	192.00	193.00	1	<0.2	225	5	61	<0.5	175	7	78
CM07-11	80014	193.00	194.00	1	0.3	6	4	35	<0.5	12	5	55
CM07-11	80015	194.00	195.00	1	0.3	6	4	23	<0.5	12	<5	42
CM07-11	80016	195.00	196.00	1	<0.2	5	2	23	<0.5	12	<5	36
CM07-11	80017	196.00	197.00	1	<0.2	5	5	27	<0.5	11	<5	42
CM07-11	80018	197.00	198.00	1	<0.2	32	<2	25	<0.5	41	<5	40
CM07-11	80019	198.00	199.00	1	<0.2	17	4	27	<0.5	29	<5	38
CM07-11	80020	202.52	203.52	1	<0.2	11	3	28	0.5	17	<5	37
CM07-11	80021	203.52	204.52	1	0.2	14	7	30	<0.5	18	7	36
CM07-11	80022	204.52	205.52	1	0.4	11	14	16	0.5	15	12	22
CM07-11	80023	205.52	206.52	1	<0.2	6	12	18	<0.5	11	10	26
CM07-11	80024	206.52	207.57	1.05	<0.2	18	4	30	<0.5	22	<5	38
CM07-11	80025	202.52	203.52	1	0.2	12	3	29	<0.5	15	<5	32
CM07-11	80026	BLANK			<0.2	1	<2	5	<0.5	5	8	10
CM07-11	80027	207.57	208.17	0.6	0.3	147	8	35	0.5	174	10	48
CM07-11	80028	208.17	209.37	1.2	<0.2	19	8	24	<0.5	22	7	40
CM07-11	80029	209.37	210.62	1.25	<0.2	9	5	27	<0.5	12	5	44
CM07-11	80030	210.62	211.62	1	0.3	23	98	35	0.6	24	97	46
CM07-11	80031	211.62	212.62	1	0.9	46	243	48	1.3	57	231	38
CM07-11	80032	212.62	213.66	1.04	0.4	25	43	43	0.6	25	44	49
CM07-11	80033	213.66	214.66	1	0.3	35	7	36	0.8	33	9	43
CM07-11	80034	214.66	215.66	1	<0.2	5	4	26	<0.5	8	<5	33
CM07-11	80035	215.66	216.66	1	0.4	8	12	14	1.2	13	18	30
CM07-11	80036	216.66	217.66	1	0.3	6	34	26	<0.5	9	33	31
CM07-11	80037	217.66	218.66	1	<0.2	5	8	20	<0.5	8	8	26
CM07-11	80038	218.66	220.00	1.34	<0.2	7	4	20	<0.5	8	<5	24
CM07-11	80039	220.00	221.50	1.5	<0.2	6	6	25	<0.5	7	<5	23
CM07-11	80040	221.50	223.00	1.5	0.2	11	6	29	<0.5	15	<5	35
CM07-11	80041	DUPLICATE		1.5	<0.2	7	4	27	<0.5	13	<5	33
CM07-11	80042	BLANK			<0.2	2	<2	10	<0.5	5	8	13

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 68

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)				Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																	GRA21	CON02
					Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-11	80043	223.00	224.00	1	0.2	8	7	31	0.5	13	6	35
CM07-11	80044	224.00	225.00	1	0.3	4	35	18	0.5	8	31	21
CM07-11	80045	225.00	226.00	1	0.5	9	96	45	0.5	10	78	38
CM07-11	80046	226.00	227.00	1	0.3	10	17	29	0.6	15	17	37
CM07-11	80047	227.00	228.00	1	0.5	9	19	30	0.9	13	19	36
CM07-11	80048	228.00	229.00	1	0.2	13	10	39	0.6	23	11	51
CM07-11	80049	229.00	230.00	1	<0.2	23	7	48	<0.5	25	7	64
CM07-11	80050	230.00	231.00	1	0.2	17	6	48	<0.5	19	7	55
CM07-11	80051	DUPLICATE		1	<0.2	14	8	50	<0.5	16	7	55
CM07-11	80052	231.00	232.00	1	0.2	11	5	48	<0.5	19	9	53
CM07-11	80053	232.00	233.50	1.5	<0.2	2	7	57	<0.5	7	<5	58
CM07-11	80054	233.50	235.00	1.5	<0.2	4	2	55	<0.5	9	<5	63
CM07-11	80055	235.00	236.50	1.5	<0.2	2	5	53	<0.5	7	5	63
CM07-11	80056	236.50	238.00	1.5	0.5	33	23	55	0.5	46	29	73
CM07-11	80057	238.00	239.00	1	<0.2	21	23	83	<0.5	29	24	96
CM07-11	80058	239.00	240.00	1	<0.2	8	23	75	<0.5	11	23	84
CM07-11	80059	240.00	241.00	1	<0.2	10	16	70	<0.5	14	14	79
CM07-11	80060	241.00	242.00	1	<0.2	29	11	69	<0.5	32	11	84
CM07-11	80061	BLANK			<0.2	1	<2	3	<0.5	4	5	8
CM07-11	80062	242.00	243.00	1	0.5	49	11	72	0.5	53	16	80
CM07-11	80063	249.00	250.00	1	1	58	313	493	1	60	294	467
CM07-11	80064	250.00	250.50	0.5	3.6	32	598	660	3.7	34	543	780
CM07-11	80065	250.50	252.50	1	3.1	26	826	921	3.1	27	772	821
CM07-11	80066	260.00	261.00	1	1	20	458	1055	1.2	23	435	1020
CM07-11	80067	261.00	262.00	1	2	55	935	1210	1.8	54	825	1150
CM07-11	80068	262.00	263.00	1	3	23	521	1720	2.8	23	463	1610
CM07-11	80069	263.00	264.00	1	0.7	82	54	629	<0.5	103	56	602
CM07-11	80070	267.23	268.23	1	<0.2	4	5	42	<0.5	8	5	54
CM07-11	80071	268.23	268.83	0.6	0.2	74	3	39	<0.5	124	<5	57
CM07-11	80072	268.83	269.83	1	<0.2	3	4	45	<0.5	8	5	62
CM07-11	80073	294.00	295.00	1	0.3	3	287	162	<0.5	7	285	156
CM07-11	80074	295.00	296.00	1	0.4	21	126	229	<0.5	22	123	220

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 69

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)				Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																	GRA21	CON02
					Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-11	80075	296.00	297.00	1	0.4	27	10	143	<0.5	29	12	143
CM07-11	80076	DUPLICATE		1	0.9	43	20	134	<0.5	38	18	139
CM07-11	80077	297.00	298.00	1	0.3	20	4	63	<0.5	26	5	80
CM07-11	80078	298.00	299.00	1	<0.2	9	<2	29	<0.5	13	<5	33
CM07-11	80079	299.00	300.00	1	0.6	7	3	40	<0.5	8	<5	42
CM07-11	80080	300.00	301.00	1	0.4	43	5	49	<0.5	54	7	60
CM07-11	80081	BLANK			0.2	1	<2	6	<0.5	2	<5	<5
CM07-11	80082	315.30	316.30	1	0.8	23	37	29	<0.5	26	37	31
CM07-11	80083	316.30	317.30	1	0.8	32	64	43	<0.5	39	76	50
CM07-11	80084	317.30	318.60	1.3	0.8	79	354	64	<0.5	75	381	62
CM07-11	80085	318.60	319.80	1.2	0.3	20	14	38	<0.5	33	12	36
CM07-11	80086	402.64	403.64	1	0.5	22	168	324	<0.5	23	170	296
CM07-11	80087	403.64	404.64	1	3.5	41	1360	387	2.6	34	1235	387
CM07-11	80088	404.64	405.64	1	3.5	21	748	679	2.7	22	664	618
CM07-11	80089	405.64	406.64	1	1.2	36	219	475	0.8	27	252	418
CM07-11	80090	406.64	407.64	1	0.5	27	58	149	<0.5	25	73	131
CM07-11	80091	407.64	408.64	1	0.5	18	49	166	<0.5	26	56	174
CM07-11	80092	461.90	462.90	1	0.2	2	2	86	<0.5	7	<5	87
CM07-11	80093	462.90	463.90	1	<0.2	3	2	66	<0.5	8	<5	78
CM07-11	80094	463.90	464.90	1	<0.2	3	<2	62	<0.5	7	<5	66
CM07-11	80095	469.55	470.55	1	<0.2	18	5	121	<0.5	14	<5	118
CM07-11	80096	470.55	471.55	1	0.8	22	90	131	<0.5	22	115	92
CM07-11	80097	471.55	472.55	1	0.3	15	5	81	<0.5	22	6	86
CM07-11	80098	472.55	473.55	1	0.3	11	9	77	<0.5	18	5	80
CM07-11	80099	473.55	474.55	1	0.5	18	27	95	<0.5	22	25	96
CM07-11	80100	DUPLICATE		1	0.4	14	29	90	<0.5	17	23	86
CM07-11	80101	BLANK			<0.2	<1	3	3	<0.5	3	<5	<5
CM07-11	80102	474.55	475.55	1	1.7	42	34	63	1.2	39	30	64
CM07-11	80103	475.55	476.55	1	0.3	21	7	65	<0.5	23	9	74
CM07-11	80104	488.00	489.00	1	0.4	16	20	238	<0.5	21	17	216
CM07-11	80105	489.00	490.00	1	1.5	22	83	416	1.1	25	81	392
CM07-11	80106	490.00	491.03	1	1.5	12	169	155	1	16	142	177

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 70

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)						Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																			GRA21	CON02
					Ag		Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm		ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-11	80107	491.03	491.63	0.6	7.2		98		213	327	6.7	92	222	277
CM07-11	80108	491.63	492.48	0.85	8		13		58	184	5.5	11	65	134
CM07-11	80109	492.48	493.48	1	3.5		174		>10000	2630	3.9	140	9720	2550
CM07-11	80110	493.48	494.08	0.6	8.1		17		176	896	8.4	17	162	717
CM07-11	80111	494.08	495.08	1	1.3		3		172	212	0.9	5	162	177
CM07-11	80112	495.08	496.08	1	0.6		4		18	97	<0.5	3	15	79
CM07-11	80113	496.08	497.08	1	<0.2		<1		10	26	<0.5	2	9	22
CM07-11	80114	497.08	498.08	1	0.2		13		31	54	<0.5	4	24	33
CM07-11	80115	507.22	508.22	1	<0.2		2		13	48	<0.5	3	5	34
CM07-11	80116	508.22	508.77	0.55	0.7		16		1355	654	0.9	16	1220	586
CM07-11	80117	508.77	509.67	0.9	1.6		1		22	82	1.9	3	19	70
CM07-11	80118	530.00	532.00	2	<0.2		<1		7	15	<0.5	2	<5	16
CM07-11	80119	532.00	533.00	1	<0.2		1		7	41	<0.5	3	6	28
CM07-11	80120	BLANK				<0.2		<1	<2	4	<0.5	2	<5	<5
CM07-11	80121	533.00	534.00	1		0.5		19	19	2310	<0.5	19	23	2180
CM07-11	80122	534.00	535.00	1		<0.2		2	3	569	<0.5	4	<5	532
CM07-11	80123	535.00	535.70	0.7		0.9		26	176	1055	<0.5	23	156	803
CM07-11	80124	535.70	536.70	1		0.8		32	151	1020	0.6	34	165	1175
CM07-11	80125	DUPLICATE		1		0.8		30	144	2660	0.6	28	143	2610
CM07-11	80126	536.70	537.70	1		0.3		14	17	121	<0.5	9	9	113
CM07-11	80127	537.70	538.70	1		0.2		7	7	182	<0.5	7	<5	178
CM07-11	80128	538.70	539.90	1.2		0.6		9	10	142	<0.5	9	<5	104
CM07-11	80129	539.90	540.90	1		0.5		8	9	60	<0.5	8	12	45
CM07-11	80130	540.90	541.90	1		0.5		159	11	803	<0.5	117	13	610
CM07-11	80131	541.90	542.85	0.95		0.5		25	9	30	<0.5	21	11	23
CM07-11	80132	542.85	543.85	1		0.3		6	13	90	<0.5	5	10	82
CM07-11	80133	543.85	544.85	1		0.8		33	66	962	0.6	36	66	822
CM07-11	80134	544.85	545.85	1		0.5		7	14	39	<0.5	7	21	28
CM07-11	80135	545.85	547.37	1.52		0.2		22	8	52	<0.5	19	12	51
CM07-11	80136	547.37	548.30	0.93		0.4		28	91	260	<0.5	24	107	213
CM07-11	80137	548.30	549.30	1		0.5		10	40	261	<0.5	13	38	219
CM07-11	80138	549.30	550.70	1.4		0.7		30	34	263	<0.5	26	40	212

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 71

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)						Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																			GRA21	CON02
					Ag		Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm		ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-11	80139	550.70	551.50	0.8		0.6		22	34	94	<0.5	16	35	72
CM07-11	80140	551.50	552.50	1		0.8		14	24	79	<0.5	15	25	76
CM07-11	80141	BLANK		0		<0.2		1	<2	6	<0.5	2	<5	5
CM07-11	80142	552.50	553.50	1		1.1		18	513	1405	<0.5	13	378	1065
CM07-11	80143	553.50	554.50	1		0.5		68	43	321	<0.5	60	43	260
CM07-11	80144	554.50	555.50	1		0.3		7	12	104	<0.5	7	18	70
CM07-11	80145	555.50	556.50	1		1.1		38	70	2610	0.5	33	59	1985
CM07-11	80146	556.50	557.55	1.05		2.6		73	140	891	2	61	110	731
CM07-11	80147	557.55	558.55	1		1.9		9	81	54	1.2	8	52	44
CM07-11	80148	DUPLICATE		1		0.9		5	40	25	0.7	5	24	22
CM07-11	80149	558.55	559.55	1		0.6		16	33	80	<0.5	11	16	64
CM07-11	80150	559.55	560.55	1		0.2		9	23	43	<0.5	6	10	37
CM07-11	80151	560.55	561.55	1		0.2		3	10	25	<0.5	2	<5	25
CM07-11	80152	561.55	562.55	1		0.2		4	9	20	<0.5	2	<5	17
CM07-11	80153	562.55	563.65	1.1		0.3		3	6	18	<0.5	4	9	16
CM07-11	80154	563.65	564.65	1		0.2		4	12	28	<0.5	4	15	26
CM07-11	80155	564.65	565.65	1		0.2		3	4	10	<0.5	3	<5	8
CM07-11	80156	565.65	566.65	1		<0.2		16	3	16	<0.5	20	<5	12
CM07-11	80157	566.65	567.65	1		<0.2		6	4	16	<0.5	3	<5	11
CM07-11	80158	567.65	568.65	1		<0.2		3	2	21	<0.5	3	<5	14
CM07-11	80159	568.65	569.65	1		<0.2		2	<2	28	<0.5	<2	<5	23
CM07-11	80160	569.65	570.65	1		0.2		4	2	234	<0.5	4	<5	200
CM07-11	80161	BLANK		0		0.2		2	2	4	<0.5	2	<5	<5
CM07-11	80162	570.65	571.70	1.05		0.4		5	4	39	<0.5	6	8	34
CM07-11	80163	571.70	572.75	1.05		0.2		6	10	31	<0.5	6	15	26
CM07-11	80164	572.75	573.75	1		<0.2		6	3	18	<0.5	5	5	14
CM07-11	80165	DUPLICATE		1		<0.2		4	5	20	<0.5	10	17	17
CM07-11	80166	573.75	574.75	1		0.2		2	3	57	<0.5	4	5	43
CM07-11	80167	574.75	576.38	1.63		0.3		9	18	253	<0.5	8	26	227
CM07-11	80168	576.38	577.38	1		0.6		81	12	2310	<0.5	88	11	2190
CM07-11	80169	577.38	578.38	1		0.3		8	6	185	<0.5	11	9	207
CM07-11	80170	578.38	579.38	1		<0.2		4	6	183	<0.5	7	7	158

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 72

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)						Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																			GRA21	CON02
					Ag		Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm		ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-11	80171	579.38	580.38	1		2.6		15	5	74	<0.5	7	7	73
CM07-11	80172	580.38	581.38	1		0.3		13	24	236	<0.5	6	27	238
CM07-11	80173	581.38	582.38	1		1.3		23	104	367	1.3	18	104	365
CM07-11	80174	582.38	583.38	1		3.6		33	45	119	3.9	36	44	112
CM07-11	80175	583.38	584.38	1		0.5		26	31	2820	0.7	28	32	2930
CM07-11	80176	584.38	585.38	1		0.6		10	20	104	0.6	12	21	112
CM07-11	80177	585.38	586.38	1		0.6		24	21	121	<0.5	26	24	122
CM07-11	80178	586.38	587.38	1		0.2		17	9	28	0.7	16	19	25
CM07-11	80179	DUPLICATE		1		<0.2		44	12	44	0.6	53	17	42
CM07-11	80180	587.38	588.38	1		<0.2		24	15	28	1.1	27	20	25
CM07-11	80181	BLANK		0		<0.2		1	3	25	<0.5	7	10	20
CM07-11	80182	588.38	589.38	1		<0.2		29	10	25	<0.5	29	15	21
CM07-11	80183	599.90	600.90	1		<0.2		1	7	34	0.6	7	14	28
CM07-11	80184	600.90	602.40	1.5		<0.2		<1	6	29	<0.5	7	14	29
CM07-11	80185	602.40	603.40	1		<0.2		2	9	50	<0.5	7	14	38
CM07-11	80186	647.53	648.53	1		<0.2		1	15	27	<0.5	6	20	24
CM07-11	80187	648.53	649.53	1		<0.2		2	33	69	0.5	6	40	63
CM07-11	80188	649.53	650.13	0.6		5.7		16	3730	5870	5.8	23	3370	7250
CM07-11	80189	650.13	651.13	1		<0.2		1	99	231	0.9	7	110	260
CM07-11	80190	651.13	652.13	1		0.3		2	228	382	0.8	7	187	323
CM07-13	80104	129.25	130.25	1		3.6		12	375	968	3.3	14	311	724
CM07-13	80191	126.25	127.25	1		15.6		90	472	772	14.1	89	499	688
CM07-13	80192	127.25	128.25	1		16.1		65	755	864	12.8	71	818	579
CM07-13	80193	128.25	129.25	1		5.7		42	1390	739	5.3	43	1435	730
CM07-13	80195	130.25	131.20	0.95		2.5		29	310	691	2.5	22	277	591
CM07-13	80196	131.20	132.20	1		1.2		29	208	1160	1.4	34	185	1110
CM07-13	80197	132.20	133.20	1		0.7		59	98	579	0.8	53	116	555
CM07-13	80198	133.20	134.15	0.95		0.7		24	51	473	1.1	40	51	424
CM07-13	80199	134.15	135.15	1		1.2		25	126	752	1.3	31	144	696
CM07-13	80200	DUPLICATE				0.9		26	78	595	1.1	28	86	577
CM07-13	80201	BLANK		0		<0.2		1	3	18	<0.5	3	12	18
CM07-13	80202	135.15	136.10	0.95		0.6		18	80	519	0.8	21	85	478

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 73

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)							Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																				GRA21	CON02
						Ag		Cu			Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm		ppm			ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-13	80203	136.10	137.10		1		0.3		10		37	375	<0.5	12	48	371
CM07-13	80204	689.20	690.20		1		0.5		7		5	53	<0.5	10	7	65
CM07-13	80205	690.20	691.90		1.7		0.5		22		17	53	0.6	28	21	66
CM07-13	80206	691.90	692.90		1		<0.2		32		10	61	<0.5	42	15	69
CM07-14	58967	176.62	178.12		1.5		0.4		<1		10	86	<0.5	6	14	72
CM07-14	58968	178.12	179.62		1.5		0.4		1		8	37	<0.5	5	15	33
CM07-14	58969	179.62	181.12		1.5		0.4		<1		3	27	<0.5	5	9	23
CM07-14	58970	181.12	182.62		1.5		0.3		<1		3	21	<0.5	5	9	17
CM07-14	58971	182.62	183.67		1.05		0.3		<1		5	22	<0.5	5	11	17
CM07-14	58972	183.67	184.67		1		0.3		<1		6	13	<0.5	5	11	11
CM07-14	58973	187.69	189.19		1.5		0.3		<1		5	17	<0.5	6	8	9
CM07-14	58974	189.19	190.49		1.3		0.4		<1		6	13	<0.5	5	11	10
CM07-14	58975	190.49	191.99		1.5		0.4		1		10	11	<0.5	4	13	6
CM07-14	58976	191.99	193.49		1.5		0.5		1		6	10	<0.5	5	10	9
CM07-14	58977	193.49	194.76		1.27		0.3		<1		4	7	<0.5	5	8	<5
CM07-14	60763	BLANK				<0.2				19	11	162	<0.5	19	14	143
CM07-14	60764	155.90		156.90	1	<0.2				9	18	76	<0.5	10	19	60
CM07-14	60765	156.90		157.90	1	<0.2				9	21	30	<0.5	12	46	36
CM07-14	60766	157.90		158.90	1	<0.2				8	15	34	<0.5	10	21	38
CM07-14	60767	158.90		159.90	1	<0.2				6	13	36	<0.5	8	15	38
CM07-14	60768	159.90		160.60	0.7	<0.2				6	11	42	<0.5	9	14	42
CM07-14	60769	160.60		161.60	1	<0.2				3	9	27	<0.5	4	14	30
CM07-14	60770	161.60		162.50	0.9	<0.2				3	28	48	<0.5	2	37	45
CM07-14	60771	162.50		163.15	0.65	<0.2				1	8	75	<0.5	2	19	76
CM07-14	60772	163.15		163.60	0.45	<0.2				5	152	289	<0.5	5	166	273
CM07-14	60773	163.60		164.50	0.9	0.3				3	35	392	0.7	3	35	384
CM07-14	60774	164.50		164.95	0.45	0.4				8	50	1445	0.8	8	55	1415
CM07-14	60775	164.95		166.40	1.45	0.4				4	83	521	0.5	4	80	500
CM07-14	60776	DUPLICATE			1.45	0.5				4	92	706	0.6	3	102	617
CM07-14	60777	166.40		167.85	1.45	0.6				5	109	846	0.7	4	118	767
CM07-14	60778	167.85		169.30	1.45	0.6				7	158	488	0.7	6	157	433
CM07-14	60779	169.30		170.40	1.1	0.6				7	172	559	0.9	9	167	499

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 74

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-14	60780	170.40		170.95	0.55	1.8		55	588	3160	2.2	49	512	3020
CM07-14	60781	BLANK				0.3		18	17	74	<0.5	18	24	68
CM07-14	60782	170.95		171.80	0.85	3.7		88	814	9140	3.2	92	785	9280
CM07-14	60783	171.80		173.10	1.3	31.1		207	1430	>10000	27.5	178	1160	>10000				1.14				1.22
CM07-14	60784	173.10		174.12	1.02	>100		573	3970	>10000	>100	474	3500	9130				1	126				144
CM07-14	60785	174.12		175.02	0.9	>100		529	3140	9460	>100	458	2820	9050					121				133
CM07-14	60786	175.02		175.87	0.85	2.5		33	187	2090	1.9	30	182	2300
CM07-14	60787	175.87		176.62	0.75	5		17	96	292	2.1	13	149	238
CM07-14	60788	184.69		185.69	1	3.8		15	95	271	2.4	16	93	228
CM07-14	60789	185.69		186.69	1	0.5		22	344	691	<0.5	22	347	656
CM07-14	60790	186.69		187.69	1	0.4		1	17	46	<0.5	3	24	36
CM07-14	60791	194.76		195.76	1	0.4		1	5	22	<0.5	2	12	24
CM07-14	60793	196.26		197.26	1	0.4		1	36	73	<0.5	2	40	62
CM07-14	60794	197.26		198.71	1.45	0.4		21	518	633	<0.5	21	514	595
CM07-14	60795	198.71		199.58	0.87	0.3		1	8	23	<0.5	<2	14	23
CM07-14	60796	199.58		200.47	0.89	0.6		15	125	671	0.5	21	142	641
CM07-14	60797	200.47		201.67	1.2	0.3		1	5	19	<0.5	8	16	19
CM07-14	60798	201.67		202.17	0.5	0.5		3	40	318	0.9	7	50	300
CM07-14	60799	202.17		203.67	1.5	0.4		1	13	100	<0.5	9	19	93
CM07-14	60800	DUPLICATE			1.5	0.5		1	9	85	<0.5	8	17	82
CM07-14	60801	BLANK				0.4		23	26	64	<0.5	23	24	56
CM07-14	60802	203.67		204.17	0.5	0.7		5	82	479	1	8	91	444
CM07-14	60803	204.17		205.17	1	0.9		4	167	129	1.3	9	171	121
CM07-14	60804	205.17		206.32	1.15	0.4		1	9	15	<0.5	6	13	15
CM07-14	60805	206.32		207.82	1.5	0.3		1	16	16	<0.5	5	22	18
CM07-14	60806	207.82		209.32	1.5	0.4		<1	5	8	<0.5	4	11	9
CM07-14	60807	209.32		210.82	1.5	0.4		<1	4	11	<0.5	4	10	11
CM07-14	60808	210.82		213.32	2.5	0.4		<1	6	13	<0.5	4	12	14
CM07-14	60809	212.32		213.32	1	0.4		1	12	115	<0.5	5	14	80
CM07-14	60810	213.32		214.32	1	0.4		1	3	7	<0.5	5	9	<5
CM07-14	69792	195.76		196.26	0.5	0.4		3	48	123	<0.5	4	53	111
CM07-15	80207	175.00		176.00	1	<0.2		8	19	37	<0.5	9	24	37

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 75

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

							Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To			Interval (m)																		GRA21	CON02
							Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
							ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-15	80208	176.00			177.00	1	<0.2		10	22	40	0.6	11	25	40
CM07-15	80209	177.00			178.00	1	<0.2		8	23	87	0.5	11	23	87
CM07-15	80210	213.57			214.57	1	0.3		2	222	64	1	3	238	63
CM07-15	80211	214.57			215.57	1	0.4		2	351	38	1.3	2	353	36
CM07-15	80212	215.57			216.50	0.93	<0.2		2	71	77	<0.5	2	79	79
CM07-15	80213	216.50			217.60	1.1	<0.2		2	61	148	<0.5	<2	67	154
CM07-15	80214	217.60			218.60	1	<0.2		2	14	31	<0.5	<2	25	34
CM07-15	80215	218.60			219.65	1.05	<0.2		2	13	28	<0.5	2	22	29
CM07-15	80216	219.65			220.65	1	<0.2		2	10	17	<0.5	2	14	20
CM07-15	80217	220.65			221.15	0.5	2.3		3	84	27	4	2	86	29
CM07-15	80218	221.15			221.85	0.7	<0.2		2	14	17	0.5	3	25	22
CM07-15	80219	221.85			222.90	1.05	0.8		137	89	360	3.9	130	72	325
CM07-15	80220	222.90			223.90	1	<0.2		2	13	22	0.7	8	17	19
CM07-15	80221	BLANK				0	<0.2		2	6	6	<0.5	8	13	8
CM07-15	80222	223.90			224.90	1	<0.2		5	11	10	0.5	10	17	9
CM07-15	80223	255.90			256.90	1	<0.2		2	27	61	0.5	7	33	57
CM07-15	80224	256.90			257.40	0.5	0.2		9	501	286	1.2	19	413	278
CM07-15	80225	257.40			258.40	1	1.2		4	19	42	<0.5	9	22	40
CM07-15	80226	DUPLICATE				1	<0.2		3	25	53	<0.5	8	29	51
CM07-15	80227	308.00		309.00		1	<0.2		2	24	12	<0.5	7	26	19
CM07-15	80228	309.00		309.50		0.5	<0.2		6	46	92	<0.5	10	53	83
CM07-15	80229	309.50		310.50		1	<0.2		2	13	13	<0.5	8	16	14
CM07-15	80230	310.50		311.50		1	<0.2		2	21	30	<0.5	7	25	26
CM07-15	80231	311.50		312.50		1	<0.2		2	13	16	<0.5	10	17	22
CM07-15	80232	312.50		313.45		0.95	<0.2		3	28	60	<0.5	8	31	55
CM07-15	80233	313.45		314.35		0.9	<0.2		2	15	33	<0.5	7	18	42
CM07-15	80234	314.35		315.35		1	<0.2		2	11	15	<0.5	7	13	16
CM07-15	80235	315.35		316.35		1	<0.2		2	13	29	<0.5	7	17	30
CM07-15	80236	316.35		317.11		0.76	<0.2		1	8	13	<0.5	7	16	15
CM07-15	80237	317.11		317.71		0.6	<0.2		2	21	28	<0.5	8	22	27
CM07-15	80238	317.71		318.71		1	<0.2		2	9	9	<0.5	7	14	11
CM07-15	80239	334.85		335.85		1	<0.2		1	11	10	<0.5	7	13	9

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 76

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

							Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To			Interval (m)																		GRA21	CON02
							Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
							ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-15	80240	335.85		336.85		1	<0.2		2	9	8	<0.5	7	13	9
CM07-15	80241	BLANK				0	0.3		1	3	9	<0.5	8	11	9
CM07-15	80242	336.85			337.45	0.6	0.3		<1	4	9	<0.5	7	14	9
CM07-15	80243	337.45			338.45	1	0.5		<1	26	29	<0.5	7	31	28
CM07-15	80244	338.45			340.70	2.25	0.5		1	22	31	<0.5	10	24	32
CM07-15	80245	340.70			341.38	0.68	0.3		<1	20	35	<0.5	9	23	33
CM07-15	80246	341.38			342.38	1	0.2		<1	6	10	<0.5	8	8	9
CM07-15	80247	342.38			343.38	1	0.3		<1	4	4	<0.5	8	8	<5
CM07-15	80248	403.50			404.50	1	<0.2		3	37	38	<0.5	9	42	35
CM07-15	80249	404.50			405.50	1	<0.2		4	12	15	<0.5	10	17	13
CM07-15	80250	DUPLICATE					<0.2		3	23	18	0.5	13	28	21
CM07-15	80251	405.50			406.50	1	<0.2		3	8	24	<0.5	11	14	22
CM07-15	80252	406.50			408.35	1.85	<0.2		1	10	50	<0.5	8	15	40
CM07-15	80253	408.35			409.35	1	<0.2		2	13	18	<0.5	10	20	17
CM07-15	80254	409.35			410.35	1	<0.2		5	15	15	0.5	12	19	16
CM07-15	80255	410.35			411.35	1	<0.2		4	10	12	<0.5	12	15	14
CM07-15	80256	508.00			509.00	1	<0.2		<1	5	13	<0.5	7	11	11
CM07-15	80257	509.00			510.00	1	<0.2		<1	14	35	<0.5	7	20	30
CM07-15	80258	510.00			511.00	1	0.3		<1	25	45	<0.5	7	32	37
CM07-15	80259	511.00			512.00	1	0.3		1	32	44	0.6	8	32	36
CM07-15	80260	512.00			513.00	1	0.3		1	22	44	0.5	8	36	45
CM07-15	80261	BLANK				0	<0.2		<1	3	15	<0.5	8	15	15
CM07-15	80262	544.60		545.60		1	5.7		1	2610	158	4.8	9	2420	164
CM07-15	80263	545.60		546.60		1	<0.2		<1	60	172	<0.5	9	63	141
CM07-15	80264	546.60		547.60		1	<0.2		<1	92	37	<0.5	9	100	38
CM07-15	80265	547.60		548.60		1	<0.2		<1	54	84	<0.5	9	61	85
CM07-15	80266	548.60		549.60		1	<0.2		<1	46	76	<0.5	8	56	76
CM07-15	80267	549.60		550.80		1.2	<0.2		<1	14	35	<0.5	8	26	50
CM07-15	80268	550.80		551.30		0.5	<0.2		<1	16	22	<0.5	8	26	23
CM07-15	80269	551.30		552.40		1.1	<0.2		<1	15	30	<0.5	8	22	31
CM07-15	80270	552.40		553.90		1.5	<0.2		19	4	56	<0.5	22	12	61
CM07-15	80271	553.90		555.40		1.5	<0.2		11	3	242	<0.5	15	14	269

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 77

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-15	80272	555.40		557.45	2.05	0.7		16	205	291	0.8	21	205	271
CM07-15	80273	557.45		558.95	1.5	<0.2		<1	49	65	<0.5	8	63	81
CM07-15	80274	558.95		560.45	1.5	<0.2		<1	30	87	<0.5	8	43	78
CM07-15	80275	DUPLICATE				<0.2		<1	28	67	<0.5	8	35	52
CM07-15	80276	639.25		640.25	1	1.3		2	1510	140	2.1	9	1440	132
CM07-15	80277	640.25		641.75	1.5	2.8		5	411	402	3	11	365	275
CM07-15	80278	641.75		643.05	1.3	3.8		9	1015	1160	3.5	14	883	1035
CM07-15	80279	643.05		644.05	1	<0.2		9	77	146	<0.5	6	75	120
CM07-15	80280	644.05		645.05	1	<0.2		2	52	289	<0.5	7	64	253
CM07-16	58978	312.10		313.10	1	<0.2		<1	3	7	<0.5	7	9	6
CM07-16	60811	5.21		6.71	1.5	0.3		3	5	15	<0.5	9	7	8
CM07-16	60812	6.71		8.21	1.5	0.2		2	4	6	<0.5	9	7	<5
CM07-16	60813	8.21		9.71	1.5	0.2		2	6	10	<0.5	9	7	8
CM07-16	60814	9.71		11.21	1.5	<0.2		1	<2	10	<0.5	9	7	9
CM07-16	60815	11.21		12.71	1.5	<0.2		2	3	15	<0.5	8	6	13
CM07-16	60816	12.71		14.21	1.5	0.2		2	5	15	<0.5	8	6	14
CM07-16	60817	14.21		15.71	1.5	<0.2		1	3	10	<0.5	9	5	9
CM07-16	60818	15.71		17.21	1.5	0.2		2	3	20	<0.5	8	6	23
CM07-16	60819	17.21		18.71	1.5	0.2		1	3	7	<0.5	9	7	7
CM07-16	60820	BLANK			0	<0.2		20	13	115	<0.5	24	15	129
CM07-16	60821	18.71		20.21	1.5	<0.2		3	4	21	<0.5	9	9	19
CM07-16	60822	20.21		21.71	1.5	<0.2		1	2	6	<0.5	7	7	7
CM07-16	60823	21.71		23.21	1.5	0.3		3	7	18	0.5	8	7	21
CM07-16	60824	23.21		24.71	1.5	0.5		4	10	37	<0.5	10	14	37
CM07-16	60825	24.71		26.22	1.51	<0.2		1	4	5	<0.5	5	5	5
CM07-16	60826	DUPLICATE			1.51	<0.2		1	5	5	<0.5	5	5	5
CM07-16	60827	26.22		27.72	1.5	0.2		1	2	6	<0.5	5	8	5
CM07-16	60828	27.72		29.22	1.5	<0.2		2	4	31	<0.5	5	7	30
CM07-16	60829	29.22		30.20	0.98	<0.2		2	75	32	<0.5	5	63	32
CM07-16	60830	30.20		31.20	1	0.3		1	11	106	<0.5	4	11	85
CM07-16	60831	31.20		33.60	2.4	<0.2		1	4	92	<0.5	4	<5	83
CM07-16	60832	33.60		34.60	1	0.2		2	6	286	<0.5	4	6	233

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 78

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-16	60833	34.60		35.60	1	0.2		5	25	110	<0.5	4	6	91
CM07-16	60834	35.60		36.60	1	<0.2		3	20	151	<0.5	4	12	127
CM07-16	60835	36.60		37.60	1	0.2		2	9	171	2.4	7	12	150
CM07-16	60836	37.60		38.60	1	<0.2		3	9	126	<0.5	4	8	110
CM07-16	60837	38.60		39.60	1	<0.2		2	8	169	0.5	4	12	146
CM07-16	60838	39.60		40.60	1	<0.2		3	9	134	<0.5	5	13	118
CM07-16	60839	40.60		42.60	2	<0.2		2	5	106	<0.5	8	13	99
CM07-16	60840	BLANK			0	0.5		17	27	188	<0.5	22	30	199
CM07-16	60841	42.60		44.60	2	<0.2		2	5	49	<0.5	6	9	51
CM07-16	60842	44.60		46.60	2	0.2		2	4	22	<0.5	<2	7	19
CM07-16	60843	46.60		48.60	2	0.2		2	5	12	<0.5	<2	8	9
CM07-16	60844	48.60		49.80	1.2	0.2		2	4	10	<0.5	<2	5	8
CM07-16	60845	49.80		50.90	1.1	<0.2		51	3	97	<0.5	47	<5	99
CM07-16	60846	50.90		52.40	1.5	<0.2		62	<2	62	<0.5	51	<5	65
CM07-16	60847	52.40		53.95	1.55	<0.2		51	5	57	<0.5	45	<5	62
CM07-16	60848	53.95		55.40	1.45	<0.2		63	5	71	0.8	48	<5	67
CM07-16	60849	55.40		56.90	1.5	0.3		352	<2	46	1.2	304	<5	51
CM07-16	60850	DUPLICATE			1.5	0.3		446	5	55	1.6	395	<5	62
CM07-16	60851	56.90		58.70	1.8	0.3		39	5	98	1.2	31	<5	100
CM07-16	60852	58.70		59.80	1.1	0.2		1	<2	4	<0.5	<2	<5	<5
CM07-16	60853	59.80		60.80	1	0.2		5	3	3	0.6	<2	<5	<5
CM07-16	60854	60.80		61.80	1	0.2		5	2	2	<0.5	<2	<5	<5
CM07-16	60855	61.80		62.80	1	0.2		2	3	3	<0.5	<2	16	11
CM07-16	60856	62.80		63.80	1	<0.2		2	5	3	<0.5	<2	11	<5
CM07-16	60857	63.80		64.80	1	<0.2		3	7	5	<0.5	<2	9	6
CM07-16	60858	64.80		65.80	1	<0.2		2	4	7	<0.5	<2	9	5
CM07-16	60859	65.80		66.80	1	0.2		3	5	5	<0.5	<2	10	5
CM07-16	60860	BLANK			0	0.7		18	20	277	<0.5	11	19	188
CM07-16	60861	66.80		67.80	1	<0.2		2	4	5	0.7	<2	10	<5
CM07-16	60862	67.80		68.80	1	0.2		2	6	4	<0.5	<2	10	<5
CM07-16	60863	68.80		69.80	1	0.2		1	2	4	<0.5	<2	9	<5
CM07-16	60864	69.80		70.80	1	<0.2		1	5	5	0.7	<2	9	<5

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 79

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-16	60865	70.80		72.30	1.5	<0.2		1	5	5	<0.5	<2	9	<5
CM07-16	60866	72.30		73.80	1.5	<0.2		1	5	5	<0.5	<2	8	<5
CM07-16	60867	73.80		75.30	1.5	<0.2		3	6	8	<0.5	<2	10	7
CM07-16	60868	75.30		76.80	1.5	<0.2		2	6	8	<0.5	<2	9	5
CM07-16	60869	76.80		78.30	1.5	0.3		5	18	45	<0.5	<2	19	29
CM07-16	60870	78.30		79.80	1.5	0.2		2	5	10	0.5	<2	8	6
CM07-16	60871	79.80		81.30	1.5	0.2		2	6	12	0.5	<2	10	8
CM07-16	60872	81.30		82.30	1	0.2		2	7	15	<0.5	<2	14	9
CM07-16	60873	82.30		83.30	1	0.8		7	54	57	1.1	2	44	51
CM07-16	60874	83.30		84.30	1	0.2		4	5	16	<0.5	<2	9	10
CM07-16	60875	84.30		85.80	1.5	0.2		3	7	7	<0.5	14	9	9
CM07-16	60876	DUPLICATE			1.5	0.2		4	6	10	<0.5	11	10	9
CM07-16	60877	85.80		87.30	1.5	<0.2		2	4	4	<0.5	9	17	<5
CM07-16	60878	87.30		88.80	1.5	0.2		2	3	6	<0.5	7	14	5
CM07-16	60879	88.80		90.30	1.5	<0.2		2	8	9	<0.5	9	10	7
CM07-16	60880	BLANK			0	0.2		18	17	566	<0.5	26	19	455
CM07-16	60881	102.20		103.70	1.5	<0.2		4	6	11	<0.5	10	8	9
CM07-16	60882	103.70		105.20	1.5	<0.2		3	5	11	<0.5	8	7	10
CM07-16	60883	105.20		106.70	1.5	<0.2		3	6	16	<0.5	9	17	15
CM07-16	60884	106.70		108.81	2.11	<0.2		2	3	6	<0.5	10	13	5
CM07-16	60885	108.81		110.00	1.19	<0.2		2	5	7	<0.5	8	10	5
CM07-16	60886	110.00		111.08	1.08	<0.2		2	5	15	<0.5	10	10	11
CM07-16	60887	111.08		111.80	0.72	<0.2		23	22	77	<0.5	29	17	72
CM07-16	60888	111.80		112.80	1	0.2		2	4	6	<0.5	8	8	5
CM07-16	60889	112.80		113.80	1	<0.2		3	9	11	<0.5	8	18	8
CM07-16	60890	113.80		114.91	1.11	<0.2		3	5	12	<0.5	9	13	10
CM07-16	60891	114.91		117.96	3.05	<0.2		3	3	12	<0.5	9	10	10
CM07-16	60892	117.96		118.96	1	0.2		3	6	10	<0.5	7	10	8
CM07-16	60893	118.96		120.55	1.59	0.2		2	6	8	<0.5	8	9	8
CM07-16	60894	120.55		122.05	1.5	<0.2		2	4	7	<0.5	8	7	7
CM07-16	60895	122.05		123.55	1.5	0.5		4	2	8	<0.5	8	9	8
CM07-16	60896	123.55		124.55	1	0.4		9	6	10	<0.5	14	11	10

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 80

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-16	60897	124.55		125.55	1	0.4		2	4	8	<0.5	8	9	9
CM07-16	60898	133.25		134.25	1	0.3		6	5	7	<0.5	11	8	10
CM07-16	60899	134.25		135.25	1	0.3		20	5	10	<0.5	24	8	10
CM07-16	60900	BLANK			0	0.5		18	12	189	<0.5	21	13	164
CM07-16	60901	135.25		136.25	1	0.2		18	8	11	<0.5	21	11	11
CM07-16	60902	136.25		137.25	1	0.3		1	2	3	<0.5	7	6	<5
CM07-16	60903	DUPLICATE			1	0.2		1	<2	6	<0.5	7	8	5
CM07-16	60904	156.24		157.22	0.98	0.3		2	5	14	<0.5	8	12	14
CM07-16	60905	157.22		157.72	0.5	0.5		2	16	20	<0.5	8	22	19
CM07-16	60906	157.72		158.72	1	0.3		24	6	70	<0.5	27	8	67
CM07-16	60907	158.72		159.72	1	1		11	9	46	0.6	17	11	45
CM07-16	60908	159.72		160.63	0.91	0.4		21	3	64	<0.5	25	6	66
CM07-16	60909	160.63		161.23	0.6	0.3		25	7	84	<0.5	27	6	79
CM07-16	60910	161.23		161.95	0.72	0.5		10	11	33	<0.5	15	17	36
CM07-16	60911	161.95		163.05	1.1	0.4		24	21	22	<0.5	22	13	22
CM07-16	60912	163.05		163.68	0.63	0.3		10	10	59	<0.5	13	9	64
CM07-16	60913	163.68		165.00	1.32	0.4		10	22	22	<0.5	13	24	22
CM07-16	60914	165.00		166.30	1.3	1		4	20	35	0.6	7	21	34
CM07-16	60915	166.30		167.35	1.05	0.4		8	26	25	<0.5	14	32	37
CM07-16	60916	167.35		168.35	1	0.5		7	15	44	<0.5	10	20	43
CM07-16	60917	168.35		169.35	1	0.3		2	5	9	<0.5	5	12	12
CM07-16	60918	169.35		170.45	1.1	0.3		10	6	10	<0.5	12	10	11
CM07-16	60919	170.45		170.95	0.5	0.3		15	15	22	<0.5	17	16	23
CM07-16	60920	170.95		171.95	1	0.3		3	4	9	<0.5	6	10	8
CM07-16	60921	BLANK			0	0.4		15	6	101	<0.5	17	11	97
CM07-16	60922	171.95		172.90	0.95	0.3		20	9	20	<0.5	19	16	19
CM07-16	60923	172.90		173.90	1	0.4		3	6	12	<0.5	6	12	12
CM07-16	60924	173.90		175.37	1.47	0.4		5	11	32	<0.5	8	14	30
CM07-16	60925	DUPLICATE			1.47	0.4		5	8	31	<0.5	8	14	30
CM07-16	60926	175.37		176.37	1	0.4		4	9	36	<0.5	7	13	35
CM07-16	60927	176.37		177.87	1.5	0.4		4	5	19	<0.5	7	11	18
CM07-16	60928	177.87		179.40	1.53	0.4		2	7	12	<0.5	5	9	12

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 81

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-16	60929	179.40		180.40	1	0.4		3	4	17	<0.5	6	9	17
CM07-16	60930	180.40		181.45	1.05	0.7		1	4	16	<0.5	5	10	16
CM07-16	60931	181.45		181.97	0.52	0.4		11	23	98	0.5	12	26	93
CM07-16	60932	181.97		182.65	0.68	0.3		10	18	109	<0.5	10	18	95
CM07-16	60933	182.65		183.50	0.85	0.2		8	12	65	<0.5	9	16	63
CM07-16	60934	183.50		184.50	1	<0.2		14	14	95	<0.5	18	20	88
CM07-16	60935	184.50		185.50	1	<0.2		3	4	27	<0.5	9	15	24
CM07-16	60936	185.50		186.50	1	0.2		9	7	37	<0.5	9	15	35
CM07-16	60937	186.50		187.65	1.15	<0.2		2	3	15	<0.5	8	14	14
CM07-16	60938	187.65		188.66	1.01	<0.2		7	4	25	<0.5	15	20	24
CM07-16	60939	188.66		189.83	1.17	<0.2		20	7	12	<0.5	23	16	12
CM07-16	60940	189.83		190.83	1	<0.2		21	12	26	<0.5	26	22	27
CM07-16	60941	BLANK			0	<0.2		14	5	79	<0.5	21	15	78
CM07-16	60942	190.83		191.83	1	<0.2		4	3	32	<0.5	10	14	29
CM07-16	60943	191.83		192.83	1	0.2		5	8	45	<0.5	11	18	43
CM07-16	60944	192.83		193.83	1	<0.2		6	7	88	<0.5	13	19	82
CM07-16	60945	193.83		194.83	1	<0.2		5	9	71	<0.5	12	20	70
CM07-16	60946	194.83		196.03	1.2	<0.2		16	19	46	<0.5	21	26	45
CM07-16	60947	196.03		197.00	0.97	<0.2		7	11	16	<0.5	13	21	17
CM07-16	60948	197.00		198.00	1	<0.2		3	4	13	<0.5	8	14	13
CM07-16	60949	198.00		199.00	1	<0.2		10	6	20	<0.5	17	15	19
CM07-16	60950	199.00		200.10	1.1	<0.2		3	11	13	<0.5	10	17	11
CM07-16	60951	DUPLICATE			1.1	<0.2		8	15	29	<0.5	14	22	27
CM07-16	60952	200.10		201.05	0.95	<0.2		8	10	25	<0.5	14	19	22
CM07-16	60953	201.05		202.05	1	0.9		6	10	19	0.8	12	18	17
CM07-16	60954	202.05		203.05	1	<0.2		5	8	24	<0.5	11	16	23
CM07-16	60955	203.05		204.05	1	0.4		6	3	28	0.6	11	13	25
CM07-16	60956	204.05		205.05	1	1		5	11	70	1.4	12	22	65
CM07-16	60957	205.05		206.05	1	<0.2		3	7	29	<0.5	10	17	27
CM07-16	60958	206.05		207.05	1	0.2		5	14	38	0.6	12	23	35
CM07-16	60959	207.05		208.05	1	2.1		22	14	103	1.9	25	22	92
CM07-16	60960	208.05		209.05	1	<0.2		3	9	29	<0.5	10	18	26

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 82

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-16	60961	BLANK			0	<0.2		14	7	80	<0.5	21	14	73
CM07-16	60962	209.05		210.05	1	<0.2		2	5	16	<0.5	8	14	15
CM07-16	60963	210.05		211.05	1	<0.2		1	<2	6	<0.5	7	11	5
CM07-16	60964	211.05		212.55	1.5	<0.2		1	<2	5	<0.5	7	10	<5
CM07-16	60965	212.55		213.55	1	<0.2		1	<2	6	<0.5	6	9	<5
CM07-16	60966	213.55		214.80	1.25	<0.2		1	<2	4	<0.5	6	10	<5
CM07-16	60967	214.80		215.50	0.7	<0.2		19	9	17	<0.5	24	16	18
CM07-16	60968	215.50		216.20	0.7	<0.2		16	7	20	<0.5	18	14	19
CM07-16	60969	216.20		217.70	1.5	<0.2		2	<2	9	<0.5	8	10	8
CM07-16	60970	217.70		219.20	1.5	1.5		7	<2	14	1.4	11	10	13
CM07-16	60971	219.20		220.70	1.5	<0.2		1	<2	5	<0.5	7	11	<5
CM07-16	60972	220.70		221.70	1	<0.2		12	3	38	<0.5	18	12	38
CM07-16	60973	221.70		222.70	1	<0.2		9	3	25	<0.5	14	13	23
CM07-16	60974	222.70		224.20	1.5	<0.2		1	<2	5	<0.5	7	11	<5
CM07-16	60975	DUPLICATE			1.5	<0.2		1	<2	5	<0.5	6	11	<5
CM07-16	60976	224.20		225.30	1.1	0.4		18	14	49	<0.5	21	23	45
CM07-16	60977	225.30		226.38	1.08	0.3		11	7	8	<0.5	18	23	13
CM07-16	60978	226.38		227.88	1.5	0.2		3	6	7	<0.5	10	20	8
CM07-16	60979	233.90		234.90	1	<0.2		1	<2	6	<0.5	8	12	6
CM07-16	60980	234.90		235.90	1	<0.2		5	9	44	<0.5	11	17	44
CM07-16	60981	BLANK			0	<0.2		11	6	14	<0.5	16	14	15
CM07-16	60982	235.90		236.83	0.93	<0.2		2	3	6	<0.5	8	12	5
CM07-16	60983	236.83		237.83	1	0.2		2	2	12	<0.5	9	13	10
CM07-16	60984	237.83		238.83	1	0.2		3	4	8	<0.5	6	14	7
CM07-16	60985	238.83		239.83	1	<0.2		2	3	4	<0.5	6	13	<5
CM07-16	60986	239.83		240.60	0.77	<0.2		1	2	5	<0.5	5	11	5
CM07-16	60987	240.60		241.70	1.1	<0.2		3	2	12	<0.5	7	14	11
CM07-16	60988	241.70		242.70	1	<0.2		<1	2	4	<0.5	5	14	<5
CM07-16	60989	250.02		251.02	1	<0.2		<1	<2	3	<0.5	4	14	<5
CM07-16	60990	251.02		251.62	0.6	0.7		<1	4	55	<0.5	6	16	59
CM07-16	60991	251.62		252.62	1	<0.2		1	<2	4	<0.5	4	13	<5
CM07-16	60992	266.70		267.65	0.95	<0.2		<1	2	10	<0.5	4	17	10

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 83

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-16	60993	267.65		268.65	1	<0.2		<1	7	5	<0.5	4	24	5
CM07-16	60994	268.65		269.90	1.25	<0.2		1	22	85	<0.5	5	33	88
CM07-16	60995	269.90		270.90	1	<0.2		1	20	14	<0.5	4	34	15
CM07-16	60996	270.90		271.90	1	0.3		1	6	23	<0.5	4	16	25
CM07-16	60997	271.90		272.90	1	<0.2		1	5	14	<0.5	4	14	16
CM07-16	60998	272.90		273.90	1	<0.2		1	2	26	<0.5	5	13	27
CM07-16	60999	273.90		274.75	0.85	<0.2		9	52	284	<0.5	16	62	285
CM07-16	61000	274.75		275.45	0.7	<0.2		1	6	56	<0.5	5	15	60
CM07-16	61001	BLANK			0	0.2		18	23	26	<0.5	15	14	19
CM07-16	61002	275.45		276.50	1.05	<0.2		2	10	31	<0.5	4	19	32
CM07-16	61003	DUPLICATE			1.05	<0.2		1	7	39	<0.5	5	17	41
CM07-16	61004	276.50		277.60	1.1	<0.2		1	8	48	<0.5	5	18	49
CM07-16	61005	277.60		278.50	0.9	<0.2		1	7	63	<0.5	4	17	62
CM07-16	61006	278.50		279.30	0.8	<0.2		1	3	50	<0.5	4	14	49
CM07-16	61007	279.30		279.80	0.5	0.4		7	18	250	<0.5	11	27	263
CM07-16	61008	279.80		280.40	0.6	0.4		14	26	236	<0.5	18	34	248
CM07-16	61009	280.40		281.80	1.4	<0.2		1	12	38	<0.5	5	20	38
CM07-16	61010	281.80		282.85	1.05	<0.2		1	23	36	<0.5	5	33	37
CM07-16	61011	282.85		283.85	1	<0.2		1	28	46	<0.5	4	42	47
CM07-16	61012	283.85		284.90	1.05	<0.2		1	49	63	<0.5	5	64	67
CM07-16	61013	284.90		285.95	1.05	<0.2		1	22	95	<0.5	5	34	98
CM07-16	61014	285.95		286.80	0.85	<0.2		1	12	34	<0.5	4	28	36
CM07-16	61015	286.80		287.30	0.5	<0.2		1	32	143	<0.5	5	46	146
CM07-16	61016	287.30		288.30	1	<0.2		1	26	85	<0.5	5	44	85
CM07-16	61017	288.30		289.15	0.85	<0.2		6	55	118	0.6	13	67	114
CM07-16	61018	289.15		290.15	1	<0.2		1	4	22	<0.5	8	12	21
CM07-16	61019	290.15		291.15	1	<0.2		1	6	38	<0.5	8	13	36
CM07-16	61020	293.74		294.74	1	<0.2		1	3	28	<0.5	8	15	30
CM07-16	61021	BLANK			0	<0.2		1	<2	5	<0.5	7	10	<5
CM07-16	61022	294.74		295.70	0.96	<0.2		1	6	49	<0.5	8	15	47
CM07-16	61023	295.70		296.70	1	<0.2		3	9	92	<0.5	10	18	88
CM07-16	61024	296.70		297.65	0.95	<0.2		1	2	33	<0.5	8	11	31

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 84

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-16	61025	DUPLICATE			0.95	<0.2		1	5	39	<0.5	8	11	34
CM07-16	61026	297.65		298.85	1.2	<0.2		1	2	32	<0.5	8	11	30
CM07-16	61027	298.85		299.85	1	0.2		1	4	119	<0.5	8	12	112
CM07-16	61028	299.85		301.00	1.15	<0.2		1	21	238	<0.5	11	33	244
CM07-16	61029	301.00		301.70	0.7	0.3		2	23	205	<0.5	12	32	193
CM07-16	61030	301.70		302.80	1.1	<0.2		2	4	47	<0.5	9	16	46
CM07-16	61031	302.80		304.35	1.55	<0.2		1	4	60	<0.5	8	11	53
CM07-16	61032	304.35		305.85	1.5	<0.2		1	<2	24	<0.5	8	10	23
CM07-16	61033	305.85		307.25	1.4	<0.2		<1	9	25	<0.5	7	13	22
CM07-16	61034	307.25		308.15	0.9	0.2		3	66	60	<0.5	9	66	60
CM07-16	61035	308.15		309.15	1	<0.2		1	16	40	<0.5	7	21	38
CM07-16	61036	309.15		309.98	0.83	<0.2		<1	<2	3	<0.5	6	8	<5
CM07-16	61037	309.98		311.10	1.12	<0.2		<1	3	10	<0.5	7	8	9
CM07-16	61038	311.10		312.10	1	<0.2		<1	4	14	<0.5	7	10	14
CM07-18	61039	19.04		20.10	1.06	<0.2		1	<2	12	0.5	5	8	11
CM07-18	61040	20.10		21.10	1	<0.2		<1	<2	89	<0.5	5	9	77
CM07-18	61041	BLANK			0	<0.2		<1	2	4	<0.5	4	8	<5
CM07-18	61042	21.10		21.65	0.55	0.4		2	3	480	0.7	6	9	438
CM07-18	61043	21.65		22.95	1.3	<0.2		<1	4	258	<0.5	5	10	209
CM07-18	61044	22.95		23.60	0.65	<0.2		1	<2	45	<0.5	6	8	38
CM07-18	61045	23.60		25.10	1.5	<0.2		<1	6	102	<0.5	5	10	87
CM07-18	61046	25.10		26.40	1.3	<0.2		<1	2	46	<0.5	4	10	41
CM07-18	61047	26.40		27.50	1.1	<0.2		<1	4	89	<0.5	5	8	83
CM07-18	61048	27.50		28.40	0.9	<0.2		<1	3	62	<0.5	5	8	57
CM07-18	61049	28.40		29.90	1.5	<0.2		<1	2	69	<0.5	4	11	65
CM07-18	61050	DUPLICATE			1.5	<0.2		<1	5	147	<0.5	8	13	128
CM07-18	61051	29.90		31.00	1.1	<0.2		<1	2	46	<0.5	6	9	37
CM07-18	61052	31.00		32.25	1.25	<0.2		<1	4	43	0.7	5	10	37
CM07-18	61053	32.25		33.15	0.9	0.5		<1	2	58	0.9	6	11	47
CM07-18	61054	33.15		34.00	0.85	<0.2		<1	3	33	<0.5	6	10	26
CM07-18	61055	34.00		35.00	1	<0.2		<1	2	32	<0.5	6	10	27
CM07-18	61056	35.00		35.95	0.95	<0.2		<1	<2	27	0.5	5	9	21

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 85

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-18	61057	35.95		36.80	0.85	<0.2		37	<2	332	<0.5	35	6	277
CM07-18	61058	36.80		37.80	1	0.6		25	3	295	1.9	27	13	250
CM07-18	61059	37.80		39.05	1.25	0.5		62	7	145	6.2	65	8	139
CM07-18	61060	39.05		40.05	1	0.2		33	4	107	1.6	30	6	89
CM07-18	61061	BLANK			0	<0.2		2	2	24	<0.5	8	10	24
CM07-18	61062	40.05		41.05	1	<0.2		50	4	65	<0.5	48	6	71
CM07-18	61063	41.05		41.75	0.7	<0.2		47	6	105	<0.5	43	7	99
CM07-18	61064	41.75		42.75	1	<0.2		74	4	75	<0.5	70	7	71
CM07-18	61065	42.75		43.75	1	<0.2		1	2	6	<0.5	9	10	7
CM07-18	61066	43.75		44.75	1	<0.2		2	2	8	<0.5	9	10	9
CM07-18	61067	53.25		54.25	1	<0.2		2	3	7	<0.5	9	12	9
CM07-18	61068	54.25		55.45	1.2	<0.2		<1	4	7	<0.5	6	9	6
CM07-18	61069	55.45		56.45	1	<0.2		1	5	8	<0.5	<2	<5	<5
CM07-18	61070	59.05		60.05	1	<0.2		<1	3	6	<0.5	6	17	13
CM07-18	61071	60.05		61.85	1.8	<0.2		1	2	8	<0.5	7	10	7
CM07-18	61072	61.85		62.85	1	<0.2		<1	4	9	<0.5	7	11	9
CM07-18	61073	84.30		85.30	1	<0.2		1	6	7	<0.5	6	12	8
CM07-18	61074	85.30		85.90	0.6	<0.2		<1	5	8	<0.5	6	9	9
CM07-18	61075	DUPLICATE			0	<0.2		8	21	16	<0.5	6	9	8
CM07-18	61076	85.90		86.90	1	<0.2		2	6	9	<0.5	7	11	8
CM07-18	61077	86.90		87.90	1	<0.2		2	5	8	<0.5	7	12	6
CM07-18	61078	87.90		88.90	1	<0.2		2	4	6	<0.5	7	12	5
CM07-18	61079	88.90		89.80	0.9	<0.2		3	7	10	<0.5	8	13	10
CM07-18	61080	89.80		91.10	1.3	0.5		9	10	20	1.2	16	23	26
CM07-18	61081	BLANK			0	<0.2		4	4	7	<0.5	10	12	8
CM07-18	61082	91.10	92.10		1	<0.2		4	7	16	<0.5	9	16	23
CM07-18	61083	106.35	107.35		1	<0.2		2	4	2	<0.5	8	13	<5
CM07-18	61084	107.35	108.35		1	<0.2		6	5	9	<0.5	11	9	11
CM07-18	61085	108.35	109.35		1	<0.2		3	7	7	<0.5	10	10	9
CM07-18	61086	127.00	128.00		1	<0.2		3	6	7	<0.5	10	12	8
CM07-18	61087	128.00	129.00		1	<0.2		2	5	7	<0.5	8	7	8
CM07-18	61088	129.00	129.95		0.95	<0.2		4	7	16	0.6	9	10	19

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 86

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-18	61089	129.95	130.85	0.9	<0.2		2	4	10	<0.5	17	14	24
CM07-18	61090	130.85	131.75	0.9	<0.2		3	5	6	<0.5	9	10	8
CM07-18	61091	131.75	132.75	1	<0.2		2	11	8	<0.5	8	19	11
CM07-18	61092	132.75	133.75	1	<0.2		6	5	3	<0.5	10	11	6
CM07-18	61093	133.75	134.75	1	<0.2		4	7	5	<0.5	9	16	5
CM07-18	61094	134.75	135.75	1	<0.2		2	4	4	<0.5	8	12	7
CM07-18	61095	135.75	136.75	1	<0.2		2	3	5	<0.5	8	15	6
CM07-18	61096	136.75	137.80	1.05	<0.2		3	8	6	<0.5	8	12	7
CM07-18	61097	137.80	138.80	1	<0.2		3	5	4	<0.5	8	11	6
CM07-18	61098	138.80	139.80	1	<0.2		3	5	3	<0.5	9	12	<5
CM07-18	61099	139.80	140.53	0.73	<0.2		2	4	3	<0.5	8	13	5
CM07-18	61100	140.53	141.23	0.7	<0.2		3	5	7	<0.5	8	10	8
CM07-18	61101	BLANK		0	<0.2		2	12	16	<0.5	8	29	14
CM07-18	61102	141.23	142.23	1	<0.2		2	4	2	<0.5	7	9	<5
CM07-18	61103	DUPLICATE		1	<0.2		2	4	3	<0.5	8	9	<5
CM07-18	61104	142.23	143.23	1	<0.2		1	3	2	<0.5	7	9	<5
CM07-18	61105	183.01	184.01	1	<0.2		2	4	4	<0.5	7	9	6
CM07-18	61106	184.01	185.01	1	<0.2		5	5	8	<0.5	10	10	11
CM07-18	61107	185.01	186.51	1.5	<0.2		13	5	33	<0.5	20	7	38
CM07-18	61108	186.51	188.01	1.5	<0.2		37	5	37	<0.5	39	5	40
CM07-18	61109	188.01	189.28	1.27	<0.2		26	6	25	<0.5	32	7	30
CM07-18	61110	189.28	190.10	0.82	<0.2		8	6	8	<0.5	13	9	9
CM07-18	61111	190.10	190.70	0.6	<0.2		50	9	29	<0.5	55	12	32
CM07-18	61112	190.70	191.70	1	<0.2		4	5	5	<0.5	9	9	7
CM07-18	61113	191.70	193.20	1.5	<0.2		3	4	12	<0.5	8	8	12
CM07-18	61114	193.20	194.70	1.5	<0.2		4	4	25	<0.5	10	9	25
CM07-18	61115	194.70	196.20	1.5	<0.2		2	4	18	<0.5	9	9	18
CM07-18	61116	196.20	197.70	1.5	<0.2		2	2	32	<0.5	8	10	34
CM07-18	61117	197.70	199.20	1.5	<0.2		2	3	26	<0.5	8	10	28
CM07-18	61118	199.20	200.70	1.5	<0.2		2	2	21	<0.5	8	9	21
CM07-18	61119	200.70	201.70	1	<0.2		2	3	14	<0.5	10	13	13
CM07-18	61120	201.70	202.65	0.95	<0.2		1	2	13	<0.5	7	12	14

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 87

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-18	61121	BLANK		0	<0.2		1	11	13	<0.5	8	19	15
CM07-18	61122	202.65	203.35	0.7	<0.2		31	15	74	<0.5	35	18	77
CM07-18	61123	203.35	204.35	1	<0.2		1	3	11	<0.5	8	14	11
CM07-18	61124	204.35	205.35	1	<0.2		3	8	26	<0.5	8	17	24
CM07-18	61125	205.35	206.35	1	<0.2		2	4	8	<0.5	8	12	9
CM07-18	61126	DUPLICATE		1	<0.2		2	3	9	<0.5	8	13	8
CM07-18	61127	206.35	207.10	0.75	<0.2		8	7	26	<0.5	11	16	26
CM07-18	61128	207.10	207.82	0.72	<0.2		33	20	48	1.3	38	25	52
CM07-18	61129	207.82	208.90	1.08	<0.2		1	4	5	<0.5	7	14	6
CM07-18	61130	208.90	209.90	1	<0.2		1	6	4	<0.5	7	15	6
CM07-18	61131	215.60	216.60	1	<0.2		1	3	5	<0.5	7	15	5
CM07-18	61132	216.60	217.26	0.66	<0.2		1	6	13	<0.5	8	15	13
CM07-18	61133	217.26	217.76	0.5	<0.2		2	7	20	<0.5	8	15	21
CM07-18	61134	217.76	218.36	0.6	<0.2		1	2	11	<0.5	7	13	12
CM07-18	61135	218.36	219.40	1.04	<0.2		1	5	13	<0.5	7	15	15
CM07-18	61136	219.40	220.40	1	<0.2		1	2	14	<0.5	7	13	14
CM07-18	61137	220.40	221.43	1.03	<0.2		2	9	23	<0.5	7	16	23
CM07-18	61138	221.43	222.43	1	<0.2		1	2	12	<0.5	7	14	12
CM07-18	61139	222.43	223.43	1	<0.2		1	<2	6	<0.5	5	13	6
CM07-18	61140	223.43	224.48	1.05	<0.2		1	<2	4	<0.5	7	13	<5
CM07-18	61141	BLANK		0	<0.2		1	4	8	<0.5	8	15	9
CM07-18	61142	224.48	225.48	1	<0.2		1	3	5	<0.5	7	13	5
CM07-18	61143	225.48	226.48	1	<0.2		2	4	26	<0.5	7	14	26
CM07-18	61144	251.45	252.45	1	<0.2		9	15	32	<0.5	7	19	34
CM07-18	61145	252.45	253.60	1.15	1.7		8	5	26	2.5	11	9	23
CM07-18	61146	253.60	254.60	1	<0.2		4	5	15	<0.5	22	9	16
CM07-18	61147	281.62	282.62	1	<0.2		4	4	11	<0.5	10	10	16
CM07-18	61148	282.62	283.62	1	<0.2		3	6	11	<0.5	7	11	12
CM07-18	61149	283.62	285.12	1.5	<0.2		3	3	9	<0.5	7	9	15
CM07-18	61150	DUPLICATE			<0.2		3	3	9	<0.5	12	7	7
CM07-18	61151	285.12	286.02	0.9	<0.2		3	5	13	<0.5	23	10	19
CM07-18	61152	286.02	286.82	0.8	<0.2		3	6	15	<0.5	6	9	18

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 88

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-18	61153	286.82	287.62	0.8	0.4		7	21	12	<0.5	8	10	8
CM07-18	61154	287.62	288.62	1	0.2		3	10	11	<0.5	6	9	9
CM07-18	61155	288.62	290.12	1.5	<0.2		2	4	15	<0.5	4	10	15
CM07-18	61156	290.12	291.42	1.3	<0.2		2	6	27	<0.5	6	9	28
CM07-18	61157	291.42	292.42	1	<0.2		2	3	15	<0.5	4	9	15
CM07-18	61158	292.42	293.42	1	<0.2		2	3	7	<0.5	5	7	8
CM07-18	61159	293.42	294.42	1	<0.2		2	4	4	<0.5	7	8	<5
CM07-18	61160	294.42	295.82	1.4	<0.2		2	4	20	<0.5	4	8	19
CM07-18	61161	BLANK		0	<0.2		2	3	8	<0.5	3	8	5
CM07-18	61162	295.82	296.92	1.1	<0.2		2	5	6	<0.5	4	9	6
CM07-18	61163	296.92	297.92	1	<0.2		2	5	9	<0.5	6	10	10
CM07-18	61164	302.77	303.77	1	<0.2		3	6	11	<0.5	6	8	11
CM07-18	61165	303.77	304.77	1	<0.2		3	3	24	<0.5	5	8	25
CM07-18	61166	304.77	305.77	1	<0.2		2	<2	3	<0.5	4	7	<5
CM07-18	61167	325.08	326.08	1	<0.2		3	7	6	<0.5	6	13	13
CM07-18	61168	326.08	327.48	1.4	0.3		7	34	62	<0.5	8	38	65
CM07-18	61169	327.48	328.38	0.9	<0.2		2	4	5	<0.5	5	8	7
CM07-18	61170	328.38	329.88	1.5	<0.2		2	5	3	<0.5	5	9	5
CM07-18	61171	329.88	330.78	0.9	<0.2		2	5	4	<0.5	3	8	<5
CM07-18	61172	330.78	331.98	1.2	<0.2		3	5	8	<0.5	5	10	9
CM07-18	61173	331.98	332.98	1	<0.2		2	4	9	<0.5	5	11	11
CM07-18	61174	344.08	345.08	1	<0.2		3	2	9	<0.5	5	9	12
CM07-18	61175	DUPLICATE			<0.2		3	5	9	<0.5	5	11	10
CM07-18	61176	345.08	346.08	1	<0.2		2	3	11	<0.5	5	9	10
CM07-18	61177	346.08	347.08	1	<0.2		3	4	28	<0.5	4	9	30
CM07-18	61178	366.42	367.42	1	<0.2		2	5	5	<0.5	3	8	<5
CM07-18	61179	367.42	368.42	1	<0.2		2	5	11	<0.5	4	9	14
CM07-18	61180	368.42	369.82	1.4	<0.2		5	4	10	<0.5	6	10	10
CM07-18	61181	BLANK			<0.2		1	4	5	<0.5	3	8	6
CM07-18	61182	369.82	370.97	1.15	<0.2		2	3	9	<0.5	3	8	9
CM07-18	61183	370.97	372.27	1.3	<0.2		4	34	71	<0.5	5	41	61
CM07-18	61184	372.27	373.17	0.9	<0.2		2	5	5	<0.5	3	9	5

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 89

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-18	61185	373.17	374.67	1.5	0.2		3	7	7	<0.5	3	9	7
CM07-18	61186	374.67	376.17	1.5	0.2		2	4	8	<0.5	5	9	9
CM07-18	61187	376.17	377.47	1.3	0.2		2	6	11	<0.5	5	11	10
CM07-18	61188	377.47	378.97	1.5	<0.2		3	12	22	<0.5	4	16	21
CM07-18	61189	378.97	380.47	1.5	<0.2		3	5	17	<0.5	4	11	16
CM07-18	61190	380.47	381.87	1.4	<0.2		4	7	17	<0.5	5	12	14
CM07-18	61191	392.00	393.10	1.1	<0.2		2	3	32	<0.5	4	10	33
CM07-18	61192	393.10	394.28	1.18	<0.2		3	15	25	<0.5	4	16	26
CM07-18	61193	394.28	395.83	1.55	<0.2		3	9	8	<0.5	7	9	12
CM07-18	61194	395.83	396.83	1	<0.2		2	2	15	<0.5	3	9	15
CM07-18	61195	396.83	397.83	1	<0.2		2	3	11	<0.5	3	10	13
CM07-18	61196	401.18	401.98	0.8	<0.2		3	6	15	<0.5	7	17	22
CM07-18	61197	401.98	402.98	1	<0.2		4	2	8	<0.5	5	11	11
CM07-18	61198	402.98	403.98	1	<0.2		4	6	21	<0.5	6	12	19
CM07-18	61199	403.98	405.38	1.4	<0.2		3	2	7	<0.5	5	7	9
CM07-18	61200	405.38	405.38	0	<0.2		2	5	7	<0.5	4	8	7
CM07-18	61201	BLANK		0	0.2		2	3	8	<0.5	3	10	8
CM07-18	61202	405.38	406.38	1	0.2		3	2	8	<0.5	5	8	10
CM07-18	61203	406.38	407.38	1	<0.2		3	5	11	<0.5	4	8	11
CM07-18	61204	407.38	408.88	1.5	<0.2		4	4	15	<0.5	4	10	15
CM07-18	61205	408.88	409.68	0.8	<0.2		2	2	11	<0.5	4	8	14
CM07-18	61206	409.68	410.68	1	<0.2		3	5	33	<0.5	4	10	34
CM07-18	61207	410.68	412.18	1.5	<0.2		2	4	15	<0.5	2	8	26
CM07-18	61208	412.18	413.58	1.4	<0.2		3	3	14	<0.5	4	8	14
CM07-18	61209	413.58	414.58	1	<0.2		3	4	6	<0.5	5	10	8
CM07-20	80364	323.84	324.84	1	<0.2		3	31	75	<0.5	5	44	71
CM07-20	80365	324.84	325.84	1	<0.2		20	295	1950	<0.5	17	296	1880
CM07-20	80366	325.84	326.84	1	<0.2		4	18	49	<0.5	8	30	47
CM07-20	80367	419.62	420.62	1	<0.2		9	9	413	<0.5	10	19	405
CM07-20	80368	420.62	421.62	1	<0.2		11	127	410	<0.5	12	147	378
CM07-20	80369	421.62	422.62	1	<0.2		12	9	210	<0.5	13	18	213
CM07-20	80370	440.68	441.68	1	<0.2		5	5	26	<0.5	8	17	26

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 90

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-20	80371	441.68	442.68	1	0.6		7	31	201	0.8	11	41	201
CM07-20	80372	442.68	443.68	1	<0.2		3	4	38	<0.5	11	11	36
CM07-20	80373	448.88	450.00	1.12	<0.2		10	49	255	<0.5	17	58	261
CM07-20	80374	450.00	450.85	0.85	6.9		50	531	1230	5.4	47	550	1200
CM07-20	80375	DUPLICATE		0.85	52.7		132	328	2560	44.1	120	346	2470
CM07-20	80376	450.85	451.85	1	4.6		17	1010	2240	5.1	24	1060	2270
CM07-20	80377	451.85	452.85	1	<0.2		5	57	87	<0.5	14	64	80
CM07-20	80378	452.85	453.70	0.85	0.5		9	20	113	0.7	18	28	108
CM07-20	80379	453.70	454.15	0.45	<0.2		7	25	97	<0.5	15	29	96
CM07-20	80380	454.15	455.67	1.52	<0.2		7	17	85	<0.5	14	25	89
CM07-20	80381	BLANK		0	<0.2		<1	3	12	<0.5	9	7	9
CM07-20	80382	455.67	457.20	1.53	<0.2		7	24	75	<0.5	14	29	72
CM07-20	80383	457.20	458.72	1.52	<0.2		7	26	100	<0.5	15	32	103
CM07-20	80384	458.72	460.25	1.53	<0.2		5	28	123	<0.5	12	30	115
CM07-20	80385	460.25	461.77	1.52	3.5		66	462	1910	3.4	65	408	1915
CM07-20	80386	461.77	463.30	1.53	<0.2		2	8	13	<0.5	10	13	10
CM07-20	80387	463.30	464.82	1.52	<0.2		1	9	40	<0.5	10	18	47
CM07-20	80388	464.82	466.34	1.52	<0.2		1	11	39	<0.5	9	19	38
CM07-20	80389	466.34	467.89	1.55	<0.2		1	4	11	<0.5	9	11	11
CM07-20	80390	467.89	468.92	1.03	<0.2		1	5	8	<0.5	9	12	7
CM07-20	80391	468.92	469.92	1	<0.2		<1	6	15	<0.5	8	14	10
CM07-20	80392	469.92	470.87	0.95	<0.2		1	36	44	<0.5	10	39	41
CM07-20	80393	470.87	471.67	0.8	>100		632	>10000	>10000	>100	606	>10000	>10000			11.75	11.85	572		11.95	11.9	543
CM07-20	80395	473.27	474.97	1.7	50.8		2120	>10000	>10000	53	2380	>10000	>10000			2.7	3.04			2.79	3.15
CM07-20	80396	474.97	477.09	2.12	>100		1340	>10000	>10000	>100	1265	>10000	>10000			12	13.6	512		12.15	13.1	514
CM07-20	80397	477.09	477.74	0.65	>100		685	>10000	>10000	>100	701	>10000	>10000			5	6.05	143		5	6.09	109
CM07-20	80398	477.74	478.54	0.8	1.8		60	716	889	1.4	74	801	927
CM07-20	80399	478.54	480.06	1.52	4.3		11	793	1000	3.4	19	867	1055
CM07-20	80400	DUPLICATE		1.52	3.3		21	523	1210	3.1	27	516	1090
CM07-20	80401	BLANK		0	0.3		8	103	122	<0.5	15	119	127

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 91

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-20	80402	480.06	481.58	1.52	0.4		1	68	92	<0.5	9	74	84
CM07-20	80403	481.58	483.10	1.52	0.5		2	70	123	<0.5	9	89	133
CM07-20	80404	483.10	484.63	1.53	0.2		2	34	47	<0.5	9	43	49
CM07-20	80405	484.63	486.15	1.52	0.2		1	48	45	<0.5	9	63	55
CM07-20	80406	486.15	487.68	1.53	0.2		1	21	28	<0.5	8	29	38
CM07-20	80407	487.68	489.20	1.52	<0.2		1	32	41	<0.5	9	44	54
CM07-20	80408	489.20	490.73	1.53	0.2		1	39	36	<0.5	7	53	38
CM07-20	80409	490.73	492.25	1.52	<0.2		1	48	41	<0.5	9	48	40
CM07-20	80410	492.25	493.78	1.53	0.2		1	26	48	<0.5	9	40	61
CM07-20	80411	493.78	495.30	1.52	0.3		1	23	24	0.5	9	36	25
CM07-20	80412	495.30	496.82	1.52	0.6		2	20	26	<0.5	8	34	27
CM07-20	80413	496.82	498.34	1.52	0.3		1	48	161	<0.5	8	65	167
CM07-20	80414	498.34	499.87	1.53	0.2		1	12	7	<0.5	10	31	24
CM07-20	80415	499.87	501.39	1.52	<0.2		1	16	41	<0.5	8	40	39
CM07-20	80416	501.39	502.92	1.53	<0.2		1	26	36	<0.5	9	34	30
CM07-20	80417	502.92	503.92	1	9.1		79	2860	2100	7.5	70	2630	2330
CM07-20	80418	503.92	504.82	1.1	<0.2		2	31	116	<0.5	8	35	90
CM07-20	80419	504.82	505.97	1.2	2.8		39	739	682	2.1	42	634	624
CM07-20	80420	505.97	507.00	1.3	4		22	1165	872	2.9	24	1005	805
CM07-20	80421	BLANK		0	<0.2		1	8	8	<0.5	9	18	11
CM07-20	80422	507.00	508.00	1	7.5		73	1040	478	7.7	80	1005	458
CM07-20	80423	508.00	509.02	1.02	3.3		60	127	112	2.9	55	120	103
CM07-20	80424	509.02	510.02	1	17.8		54	6430	>10000	12.4	48	4860	>10000				1.11				1.2
CM07-20	80425	DUPLICATE			7.1		16	2470	2490	5	21	2260	2950
CM07-20	80426	510.02	511.02	1	0.4		1	59	106	<0.5	10	59	107
CM07-20	80427	511.02	512.00	0.98	0.2		1	43	70	<0.5	9	53	68
CM07-20	80428	512.00	513.00	1	<0.2		1	26	50	<0.5	8	33	36
CM07-20	80429	513.00	514.00	1	1.6		13	354	1450	1.4	18	356	1295
CM07-20	80430	514.00	515.00	1	0.5		6	82	724	<0.5	13	86	632
CM07-20	80431	515.00	515.87	0.87	<0.2		1	22	53	<0.5	8	31	49
CM07-20	80432	515.87	517.21	1.34	0.3		8	156	117	<0.5	12	120	105

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 92

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-20	80433	517.21	517.36	0.15	>100		7340	>10000	>10000	>100	6180	>10000	>10000			7.33	7.8	226		7.6	8	215
CM07-20	80434	517.36	518.41	1.05	0.3		9	116	104	<0.5	17	153	118
CM07-20	80435	518.41	519.91	1.5	0.9		23	197	355	0.8	24	180	301
CM07-20	80436	697.40	698.40	1	0.9		8	35	387	0.7	11	42	306
CM07-20	80437	698.40	699.50	1.1	0.3		7	34	30	<0.5	8	36	21
CM07-20	80438	699.50	701.05	1.55	0.2		3	8	30	<0.5	5	16	20
CM07-20	80439	701.05	702.05	1	0.7		4	28	29	0.5	7	34	27
CM07-20	80440	702.05	703.05	1	<0.2		2	5	18	<0.5	5	16	13
CM07-20	80441	BLANK		0	<0.2		1	7	12	<0.5	4	17	10
CM07-20	80442	708.31	709.41	1.1	<0.2		2	6	6	<0.5	5	16	<5
CM07-20	80443	709.41	709.91	0.5	0.3		2	12	90	<0.5	5	20	72
CM07-20	80444	709.91	710.91	1	<0.2		1	5	12	<0.5	5	14	8
CM07-20	80445	710.91	711.91	1	<0.2		2	22	45	<0.5	5	30	28
CM07-20	80446	721.38	722.38	1	<0.2		1	3	5	<0.5	4	13	<5
CM07-20	80447	722.38	723.38	1	<0.2		1	6	6	<0.5	4	14	5
CM07-20	80448	723.38	724.78	1.4	<0.2		1	5	5	<0.5	4	12	<5
CM07-20	80449	724.78	726.23	1.45	<0.2		1	4	6	<0.5	4	13	<5
CM07-20	80450	DUPLICATE		1.45	<0.2		<1	2	4	<0.5	4	12	<5
CM07-20	80451	726.23	727.43	1.2	<0.2		1	12	8	<0.5	5	19	6
CM07-20	80452	727.43	727.83	0.4	<0.2		2	11	21	<0.5	4	14	17
CM07-20	80453	727.83	728.48	0.65	1.1		5	33	449	1	6	36	399
CM07-20	80454	728.48	729.98	1.5	0.3		1	5	13	<0.5	5	14	11
CM07-20	80455	729.98	730.88	0.9	0.7		3	158	127	<0.5	5	147	106
CM07-20	80494	471.67	473.27	1.6	13.7		309	3260	9550	12.9	295	3490	>10000				1.03				1.03
CM07-21	61239	142.60	143.60	1.00	2.7		17	71	523	2.3	20	72	405
CM07-21	61240	143.60	144.60	1.00	>100		277	104	302	>100	348	96	246					418				684
CM07-21	61241	144.60	145.70	1.10	1.1		5	43	98	0.8	7	47	74
CM07-21	61242	145.70	146.70	1.00	0.6		3	11	89	1.6	3	22	78
CM07-21	61243	146.70	147.75	1.05	41.1		55	85	223	37.6	50	92	210
CM07-21	61244	147.75	148.75	1.00	0.3		43	604	414	1	38	562	359
CM07-21	61245	148.75	149.80	1.05	1.6		124	1570	920	2.3	119	1550	909

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 93

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM07-21	61246	149.80	150.80	1.00	1.3		52	696	455	1.6	46	635	410
CM07-21	61247	150.80	151.80	1.00	1		67	799	484	1.8	63	725	448
CM07-21	61248	151.80	152.80	1.00	10.2		77	1050	1005	36.7	73	1070	1060
CM07-21	61249	152.80	153.80	1.00	2.6		164	1200	1130	8.3	144	1085	1090
CM07-21	61250	153.80	154.80	1.00	1		101	1380	940	1.7	95	1275	890
CM07-21	61251	154.80	155.90	1.10	0.8		101	1370	1615	1.6	75	1230	1410
CM07-21	61252	155.90	156.90	1.00	0.5		81	1970	809	0.6	66	1415	667
CM07-21	61253	156.90	157.90	1.00	1.3		112	2850	918	1.9	89	2470	781
CM07-21	61254	157.90	159.00	1.10	0.4		88	1340	1320	<0.5	63	991	1015
CM07-21	61255	159.00	159.63	0.63	0.6		60	1100	485	0.7	52	971	434
CM07-21	61256	159.63	160.23	0.60	0.8		88	1580	397	0.6	79	1210	335
CM07-21	61257	160.23	160.93	0.70	2.6		111	1420	982	5.6	89	1180	874
CM07-21	61258	160.93	161.93	1.00	2.5		143	1100	1670	5.2	112	1055	1560
CM07-21	61259	161.93	162.93	1.00	1.7		40	738	765	5.8	37	667	722
CM07-21	61260	BLANK			0.3		18	175	186	<0.5	16	148	155
CM07-21	61261	162.93	163.98	1.05	0.5		12	255	202	1.2	12	211	158
CM07-21	61262	163.98	165.48	1.50	<0.2		5	15	38	<0.5	6	30	39
CM07-21	61263	165.48	167.03	1.55	<0.2		2	12	60	0.5	2	24	65
CM07-21	61264	DUPLICATE		0.00	<0.2		<1	7	18	0.5	2	20	18
CM07-21	61265	167.03	168.03	1.00	<0.2		3	68	50	<0.5	4	82	50
CM07-21	61266	168.03	169.03	1.00	<0.2		<1	11	13	<0.5	2	26	13
CM08-22	80456	17.00	18.00	1	3		7	338	697	2.6	12	330	637
CM08-22	80457	18.00	18.40	0.4	5.3		61	5680	3760	5	58	5370	4160
CM08-22	80458	18.40	19.40	1	4.7		5	348	919	4.7	8	341	877
CM08-22	80459	31.46	32.46	1	3.8		5	310	906	3.6	8	299	840
CM08-22	80460	32.46	34.46	2	4		224	4370	4120	3.8	173	4110	4820
CM08-22	80461	BLANK			0.2		2	22	40	<0.5	5	23	26
CM08-22	80462	34.46	35.61	1.15	5.1		9	239	435	4.2	10	242	387
CM08-22	80463	40.06	41.06	1	12.3		23	1215	1335	11.5	21	1075	1200
CM08-22	80464	41.06	41.76	0.7	10.5		25	4200	2280	8.5	22	3730	1985
CM08-22	80465	41.76	42.76	1	8.8		12	2740	1835	8.1	13	2510	1715
CM08-22	80466	310.53	311.53	1	1		11	426	544	0.9	13	440	530

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 94

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-22	80467	311.53	313.03	1.5	1.1		6	272	588	1.1	8	248	576
CM08-22	80468	313.03	314.03	1	46.1		36	7090	6170	41.6	34	6540	5720
CM08-22	80469	314.03	315.03	1	1.6		4	156	213	1.3	5	155	205
CM08-22	80470	315.03	316.08	1.05	5.1		7	1060	1695	4.5	8	945	1595
CM08-22	80471	316.08	316.68	0.6	8.4		10	2200	3810	7.4	14	2090	3450
CM08-22	80472	316.68	317.18	0.5	98.9		95	>10000	>10000	84.5	79	>10000	>10000			1.74	1.74			1.79	1.68
CM08-22	80473	317.18	318.18	1	31.8		23	3760	4970	27.7	24	3610	4960
CM08-22	80474	318.18	319.28	1.1	1.2		6	238	368	0.9	9	229	367
CM08-22	80475	DUPLICATE		0	1.1		8	276	511	0.8	10	262	484
CM08-22	80476	319.28	320.28	1	0.3		16	94	377	<0.5	17	92	375
CM08-22	80477	320.28	321.28	1	0.2		13	82	445	<0.5	15	85	413
CM08-22	80478	332.50	334.00	1.5	1.6		11	40	264	1.4	14	43	273
CM08-22	80479	334.00	334.70	0.7	39		67	1760	9400	32.4	59	1595	9180
CM08-22	80480	334.70	335.70	1	14.2		20	321	2520	12.1	21	305	2350
CM08-22	80481	BLANK			0.3		2	9	24	<0.5	5	16	24
CM08-22	80482	350.00	351.50	1.5	0.4		11	44	187	<0.5	13	49	176
CM08-22	80483	351.50	351.70	0.2	0.3		7	38	197	<0.5	10	43	213
CM08-22	80484	351.70	352.40	0.7	<0.2		9	21	120	<0.5	10	29	121
CM08-22	80485	352.40	352.85	0.45	1.1		19	132	425	0.7	18	131	410
CM08-22	80486	352.85	354.35	1.5	0.3		10	25	116	<0.5	12	31	102
CM08-22	80487	354.35	355.35	1	<0.2		9	13	29	<0.5	11	19	28
CM08-22	80488	355.35	356.35	1	<0.2		13	11	34	<0.5	14	18	33
CM08-22	80489	356.35	356.75	0.4	9.7		33	700	2500	7.9	30	641	2250
CM08-22	80490	356.75	357.60	0.85	<0.2		10	14	37	<0.5	13	18	39
CM08-22	80491	357.60	357.90	0.3	0.2		9	12	32	<0.5	12	14	32
CM08-22	80492	357.90	358.90	1	<0.2		9	10	53	<0.5	10	18	53
CM08-22	80493	358.90	359.90	1	0.4		29	69	2020	0.5	28	71	1890
CM08-22	80494	359.90	360.10	0.2	14.1		189	403	>10000	11	144	386	>10000				4.06				4.15
CM08-22	80495	360.10	361.60	1.5	<0.2		9	14	213	<0.5	11	23	183
CM08-22	80496	361.60	363.10	1.5	<0.2		7	10	104	<0.5	10	17	101
CM08-22	80497	363.10	363.50	0.4	0.5		7	193	382	<0.5	10	174	340

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 95

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-22	80498	363.50	365.00	1.5	<0.2		8	7	74	<0.5	11	16	71
CM08-22	80499	365.00	366.50	1.5	<0.2		5	5	24	<0.5	8	12	29
CM08-22	80500	DUPLICATE		1.5	<0.2		5	6	22	<0.5	10	14	24
CM08-22	80501	BLANK			0.6		28	18	34	<0.5	6	13	6
CM08-22	80502	366.50	367.90	1.4	0.3		7	10	91	<0.5	8	14	92
CM08-22	80503	367.90	368.80	0.9	0.4		11	21	43	<0.5	13	22	40
CM08-22	80504	369.40	370.90	1.5	0.6		17	61	97	0.6	23	73	99
CM08-22	80505	370.90	372.30	1.4	<0.2		44	24	189	<0.5	46	37	192
CM08-22	80506	372.30	372.55	0.25	22.7		669	1210	1150	20.7	561	1150	1110
CM08-22	80507	372.55	374.15	1.6	0.6		20	22	428	0.6	25	41	441
CM08-22	80508	374.15	374.90	0.75	10.4		600	396	>10000	8.8	538	390	>10000				1.84				1.76
CM08-22	80509	374.90	376.10	1.2	3.5		59	235	1110	2.8	59	232	1065
CM08-22	80510	376.10	377.60	1.5	1.3		71	105	1900	0.9	77	127	1975
CM08-22	80511	377.60	379.10	1.5	0.6		30	39	190	0.6	33	54	186
CM08-22	80512	379.10	380.60	1.5	0.3		21	22	48	<0.5	26	33	56
CM08-22	80513	380.60	382.15	1.55	0.4		20	49	109	0.7	26	67	140
CM08-22	80514	382.15	382.65	0.5	>100		270	>10000	>10000	>100	249	>10000	>10000	247		5.28	4.01	219		4.88	3.59
CM08-22	80515	382.65	383.30	0.65	0.9		9	101	215	0.6	13	113	189
CM08-22	80516	383.30	384.10	0.8	2.8		18	1060	1100	2.5	22	1055	1135
CM08-22	80517	384.10	385.10	1	6.6		112	365	618	5.5	97	359	582
CM08-22	80518	385.10	386.00	0.9	0.3		5	28	48	<0.5	8	45	58
CM08-22	80519	386.00	387.00	1	0.3		2	7	46	0.5	7	18	43
CM08-22	80520	387.00	388.00	1	0.3		1	2	11	<0.5	5	14	12
CM08-22	80521	BLANK			0.6		4	76	236	0.8	8	87	253
CM08-22	80522	388.00	389.00	1	0.2		2	11	17	<0.5	6	21	19
CM08-22	80523	389.00	390.00	1	0.2		2	24	32	<0.5	4	29	29
CM08-22	80524	390.00	390.90	0.9	0.3		1	12	35	<0.5	6	21	35
CM08-22	80525	DUPLICATE		0	0.2		2	6	10	<0.5	5	16	11
CM08-22	80526	390.90	391.90	1	0.4		2	15	40	0.5	6	22	33
CM08-22	80527	391.90	392.60	0.7	5.4		3	618	884	4.9	6	605	867
CM08-22	80528	392.60	393.20	0.6	5.4		13	943	1300	5.2	13	1030	1255

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 96

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-22	80529	393.20	394.20	1	0.5		3	185	256	<0.5	6	185	243
CM08-22	80530	394.20	395.30	1.1	0.4		1	37	72	<0.5	4	52	71
CM08-22	80531	395.30	396.30	1	0.5		1	20	38	0.5	4	39	54
CM08-22	80532	396.30	397.30	1	0.8		1	44	81	<0.5	4	89	133
CM08-22	80533	397.30	397.80	0.5	1.1		5	98	92	0.7	7	107	100
CM08-22	80534	397.80	398.40	0.6	0.6		1	69	165	<0.5	3	81	152
CM08-22	80535	398.40	399.30	0.9	3.9		68	746	393	2.7	58	575	339
CM08-22	80536	399.30	399.85	0.55	3.8		86	294	2150	2.8	65	239	2200
CM08-22	80537	399.85	400.40	0.55	24.5		931	314	546	20.1	659	264	471
CM08-22	80538	400.40	401.10	0.7	47.6		1270	7220	633	39.1	918	6090	603
CM08-22	80539	401.10	401.45	0.35	>100		647	>10000	>10000	>100	512	>10000	>10000	364		6.66	2.06	348		6.65	1.99
CM08-22	80540	401.45	401.73	0.28	>100		249	>10000	>10000	83.2	176	>10000	>10000	88		3.29	1.63			3.24	1.57
CM08-22	80541	STANDARD			>100		213	>10000	>10000	>100	161	>10000	>10000	160		6.29	3.19	157		6.27	3.12
CM08-22	80542	401.73	401.93	0.2	>100		388	>10000	>10000	>100	307	>10000	>10000	174		6.58	7.48	171		6.52	7.58
CM08-22	80543	401.93	402.43	0.5	10.6		21	3420	2580	7.4	14	2790	1305
CM08-22	80544	402.43	403.03	0.6	>100		816	>10000	>10000	>100	583	>10000	>10000	377		9.89	13.35	361		9.59	13.35
CM08-22	80545	403.03	403.48	0.45	9.6		23	1775	1960	7.5	16	1430	903
CM08-22	80546	403.48	403.88	0.4	>100		684	>10000	>10000	>100	547	>10000	>10000	357		13.85	14.45	345		13.55	13.5
CM08-22	80547	403.88	404.38	0.5	6.5		12	1075	1590	4.7	7	835	439
CM08-22	80548	404.38	405.73	1.35	2.7		5	811	850	1.9	6	647	671
CM08-22	80549	405.73	406.83	1.1	1.4		3	212	610	0.9	5	180	503
CM08-22	80550	DUPLICATE		0	0.7		4	106	106	0.6	5	102	85
CM08-22	80551	406.83	407.73	0.9	11.2		46	2760	6830	9.9	40	2660	6510
CM08-22	80552	407.73	408.23	0.5	0.6		2	80	86	<0.5	3	72	65
CM08-22	80553	408.23	408.73	0.5	43.6		33	4670	3350	38.7	35	4750	3440
CM08-22	80554	408.73	409.43	0.7	8.5		17	2560	2930	6.3	18	2630	3110
CM08-22	80555	409.43	410.03	0.6	0.3		1	29	36	<0.5	5	44	38
CM08-22	80556	410.03	411.03	1	1		24	425	315	1.1	27	577	277
CM08-22	80557	411.03	412.03	1	0.9		29	418	306	0.9	26	428	278
CM08-22	80558	412.03	413.03	1	0.4		4	75	64	<0.5	7	89	58

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 97

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-22	80559	413.03	413.93	0.9	0.2		2	36	62	<0.5	5	49	58
CM08-22	80560	413.93	414.93	1	0.4		2	61	179	<0.5	5	61	165
CM08-22	80561	BLANK		0	0.3		3	7	16	<0.5	7	18	17
CM08-22	80562	414.93	415.83	0.9	1.1		8	239	231	1	6	257	242
CM08-22	80563	415.83	416.83	1	1.7		3	294	231	1.6	5	311	207
CM08-22	80564	416.83	417.33	0.5	0.2		1	26	33	<0.5	5	42	33
CM08-22	80565	417.33	417.93	0.6	44		45	9500	4520	40.6	47	>10000	4910							1.04
CM08-22	80566	417.93	418.93	1	0.4		2	65	166	0.5	5	75	153
CM08-22	80567	418.93	419.33	0.4	9.4		32	2090	934	8.6	33	2280	861
CM08-22	80568	419.33	420.33	1	3.6		12	735	365	4	12	809	301
CM08-22	80569	420.33	421.83	1.5	1.9		8	610	392	2.1	10	695	353
CM08-22	80570	421.83	422.83	1	0.2		1	33	69	<0.5	4	44	64
CM08-22	80571	422.83	423.83	1	0.3		1	35	72	<0.5	3	41	58
CM08-22	80572	423.83	424.83	1	0.2		9	36	105	<0.5	11	54	99
CM08-22	80573	424.83	425.13	0.3	0.2		12	36	85	<0.5	14	43	82
CM08-22	80574	425.13	426.13	1	0.3		2	31	49	<0.5	7	44	53
CM08-22	80575	DUPLICATE			0.2		1	40	47	<0.5	4	72	51
CM08-22	80576	426.13	427.23	1.1	0.3		1	41	110	<0.5	4	46	106
CM08-22	80577	427.23	428.23	1	0.7		56	105	486	0.8	53	108	474
CM08-22	80578	428.23	429.23	1	4.3		11	855	1290	3.3	12	893	1100
CM08-22	80579	429.23	429.68	0.45	<0.2		1	21	36	<0.5	5	32	35
CM08-22	80580	429.68	430.53	0.85	0.8		2	146	124	<0.5	5	127	109
CM08-22	80581	BLANK			0.3		1	31	29	<0.5	5	39	26
CM08-22	80582	430.53	431.53	1	3.4		4	756	807	3.4	6	770	894
CM08-22	80583	431.53	431.73	0.2	1		4	131	240	1	6	161	220
CM08-22	80584	431.73	432.23	0.5	0.9		1	159	83	0.8	3	176	102
CM08-22	80585	432.23	432.38	0.15	6.1		11	819	1150	4.7	11	828	1025
CM08-22	80586	432.38	433.38	1	0.6		1	60	61	0.5	3	73	53
CM08-22	80587	433.38	434.48	1.1	0.5		2	76	101	0.5	2	71	102
CM08-22	80588	434.48	435.43	0.95	0.2		1	38	73	<0.5	3	55	49
CM08-22	80589	435.43	436.28	0.85	0.7		2	76	202	0.5	4	91	203
CM08-22	80590	436.28	437.08	0.8	0.2		1	23	88	<0.5	2	31	79

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 98

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-22	80591	437.08	437.98	0.9	2.1		2	249	352	2.1	4	285	318
CM08-22	80592	437.98	438.23	0.25	>100		38	>10000	>10000	91.3	34	>10000	>10000	99		1.12	2.36			1.17	2.38
CM08-22	80593	438.23	439.23	1	4.2		12	879	1720	3.5	12	867	1600
CM08-22	80594	439.23	440.23	1	17		43	2030	3880	14.7	39	2160	4250
CM08-22	80595	440.23	441.23	1	4.6		12	917	2060	3.6	11	940	1790
CM08-22	80596	441.23	442.23	1	2.1		7	321	604	2	7	332	479
CM08-22	80597	442.23	443.23	1	2		4	371	378	1.6	5	405	344
CM08-22	80598	443.23	444.23	1	1.3		3	197	133	1.9	6	171	189
CM08-22	80599	444.23	445.23	1	4.3		101	1270	1785	4.6	85	1300	1755
CM08-22	80600	DUPLICATE			5.2		118	682	1370	3.7	106	594	1175
CM08-22	80601	BLANK			0.7		9	104	141	0.7	12	132	148
CM08-22	80602	445.23	446.23	1	3.8		23	718	878	2.6	23	751	791
CM08-22	80603	446.23	447.13	0.9	1		4	160	318	1.1	6	227	334
CM08-22	80604	447.13	448.13	1	1.6		8	713	320	2	10	746	338
CM08-22	805034A	368.80	369.40	0.6	0.6		10	15	29	0.6	16	31	32
CM08-23	80506	354.86	355.36	0.5	<0.2		27	46	426	0.6	32	55	412
CM08-23	80605	353.86	354.86	1	<0.2		12	14	266	<0.5	14	23	232
CM08-23	80607	355.36	356.36	1	<0.2		26	22	245	<0.5	26	28	203
CM08-23	80608	363.50	364.50	1	0.4		11	26	97	<0.5	15	31	83
CM08-23	80609	364.50	364.80	0.3	<0.2		9	41	239	<0.5	14	45	200
CM08-23	80610	364.80	365.80	1	<0.2		8	23	257	<0.5	12	27	222
CM08-23	80611	365.80	366.90	1.1	<0.2		7	45	304	<0.5	12	46	253
CM08-23	80612	366.90	367.90	1	<0.2		7	113	620	<0.5	10	110	542
CM08-23	80613	367.90	368.90	1	0.6		6	290	1045	0.8	10	281	868
CM08-23	80614	368.90	369.90	1	1.1		14	299	587	1	18	284	502
CM08-23	80615	369.90	370.20	0.3	43.2		401	1340	>10000	37.2	320	1280	>10000				3.16				3.53
CM08-23	80616	370.20	371.20	1	1.3		13	234	445	0.9	15	216	301
CM08-23	80617	371.20	372.70	1.5	2		2	275	867	1.6	6	284	762
CM08-23	80618	372.70	373.20	0.5	0.5		3	48	285	0.5	7	54	230
CM08-23	80619	373.20	374.05	0.85	0.8		8	98	425	0.7	10	96	348
CM08-23	80620	374.05	374.90	0.85	<0.2		<1	20	53	<0.5	5	28	42

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 99

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-23	80621	BLANK			0.3		<1	6	28	<0.5	4	13	25
CM08-23	80622	374.90	375.55	0.65	0.2		2	29	84	<0.5	5	31	66
CM08-23	80623	375.55	377.05	1.5	0.2		<1	28	199	<0.5	4	39	145
CM08-23	80624	377.05	378.53	1.48	0.3		1	29	45	<0.5	5	36	38
CM08-23	80625	DUPLICATE			0.2		1	24	43	<0.5	4	32	38
CM08-23	80626	378.53	380.03	1.5	<0.2		10	14	44	<0.5	4	25	43
CM08-23	80627	380.03	381.60	1.57	0.3		2	58	183	<0.5	6	74	171
CM08-23	80628	381.60	382.33	0.73	>100		1190	>10000	>10000	>100	916	>10000	>10000	464		13	13.05	461		12.8	13.2
CM08-23	80629	382.33	383.33	1	1.2		6	253	474	1	6	268	215
CM08-23	80630	383.33	384.33	1	0.3		1	73	125	<0.5	4	67	88
CM08-23	80607A	362.00	363.50	1.5	<0.2		10	84	220	<0.5	13	86	191
CM08-24	80631	331.20	332.20	1	2.6		16	328	462	2.1	16	293	387
CM08-24	80632	332.20	333.20	1	0.4		8	36	28	0.5	9	42	36
CM08-24	80633	333.20	333.70	0.5	30.4		49	>10000	>10000	24.5	46	9730	>10000			0.96	1.03				1.08
CM08-24	80634	333.70	334.70	1	13.4		10	3300	1220	10.7	11	3010	1070
CM08-24	80635	334.70	335.70	1	1.2		18	301	710	1.2	16	247	560
CM08-24	80636	335.70	336.70	1	1.3		13	81	151	1.5	13	78	122
CM08-24	80637	336.70	337.80	1.1	0.7		5	131	292	0.9	8	119	241
CM08-24	80638	337.80	338.33	0.53	22.7		37	9010	7330	16.9	29	7790	7780
CM08-24	80639	338.33	338.43	0.1	>100		1330	>10000	>10000	>100	867	>10000	>10000	133		6.85	12.75	117		6.84	13
CM08-24	80640	BLANK		0	0.9		5	288	470	0.8	7	222	284
CM08-24	80641	338.43	338.93	0.5	3.5		208	1220	1600	2.7	159	1030	1300
CM08-24	80642	338.93	339.73	0.8	16		1915	8580	>10000	15.8	1805	8600	>10000				1.58				1.5
CM08-24	80643	339.73	340.73	1	<0.2		7	38	115	<0.5	12	44	112
CM08-24	80644	340.73	341.73	1	3.1		80	1040	2440	3.4	72	1060	2320
CM08-24	80645	341.73	342.73	1	<0.2		3	38	62	<0.5	7	55	55
CM08-24	80646	342.73	343.73	1	<0.2		6	85	108	0.5	11	100	123
CM08-24	80647	343.73	344.80	1.07	1.1		10	271	15	1.6	15	317	20
CM08-24	80648	344.80	345.80	1	<0.2		2	20	25	<0.5	7	32	28
CM08-24	80649	345.80	346.77	0.97	0.5		14	223	362	1.1	18	234	357

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 100

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-24	80650	346.77	347.77	1	79.9		499	>10000	3070	67	451	>10000	3390			1.76				1.72
CM08-24	80651	347.77	348.77	1	2.6		142	485	1945	3.7	119	373	1910
CM08-24	80652	348.77	349.77	1	3.9		26	916	1205	4.1	25	949	1130
CM08-24	80653	DUPLICATE		1	<0.2		10	130	151	0.5	15	146	161
CM08-24	80654	376.95	377.95	1	<0.2		3	84	75	<0.5	8	101	81
CM08-24	80655	377.95	378.95	1	<0.2		3	21	27	<0.5	7	30	33
CM08-24	80656	378.95	379.95	1	<0.2		2	25	26	<0.5	6	37	25
CM08-25	61315	345.90	346.90	1	0.9		110	23	55	0.6	11	36	46
CM08-25	61316	346.90	347.90	1	4		34	569	2850	3.5	11	561	2780
CM08-25	61317	347.90	348.50	0.6	4.1		36	1150	1950	3	26	1020	1780
CM08-25	61318	348.50	348.62	0.12	63.4		102	>10000	>10000	54.3	83	9860	>10000			1.06	4.47				4.21
CM08-25	61319	348.62	349.60	0.98	1.3		9	73	187	0.8	7	87	157
CM08-25	61320	349.60	349.80	0.2	22.6		530	1480	>10000	18.4	427	1305	>10000				6.13				6.45
CM08-25	61321	349.80	350.80	1	1		8	44	203	0.6	8	53	140
CM08-25	61322	350.80	351.80	1	1		9	89	436	0.9	8	100	398
CM08-25	61323	351.80	352.24	0.44	3.5		3	708	822	2.9	5	669	766
CM08-25	61324	352.24	352.48	0.24	>100		151	>10000	>10000	>100	120	>10000	>10000	>1500		16.45	5.02	>1500		16.75	4.77	1690
CM08-25	61325	352.48	353.48	1	2.2		4	179	189	1.4	5	153	130
CM08-25	61326	353.48	354.51	1.03	5.1		4	357	168	3.9	6	332	125
CM08-25	61327	361.91	362.91	1	1.1		4	116	162	0.6	5	115	132
CM08-25	61328	362.91	363.91	1	0.6		8	56	51	<0.5	5	75	41
CM08-25	61329	363.91	364.03	0.12	38.9		637	3740	>10000	38.2	515	3430	>10000				1.48				1.49
CM08-25	61330	364.03	365.03	1	0.9		9	205	210	0.5	6	233	175
CM08-25	61331	365.03	366.02	0.99	0.6		4	46	95	0.5	6	56	87
CM08-25	61332	366.02	367.02	1	0.7		7	125	104	0.7	5	146	85
CM08-25	61333	367.02	368.02	1	<0.2		2	93	37	<0.5	5	59	24
CM08-25	61334	BLANK			0.2		34	12	259	0.6	27	37	221
CM08-25	61335	368.02	369.02	1	1		2	236	69	1.5	7	235	42
CM08-25	61336	369.02	369.66	0.64	0.9		13	264	1220	0.7	13	240	1020
CM08-25	61337	369.66	370.32	0.66	2.3		2	350	47	1.3	4	220	33

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 101

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-25	61338	370.32	371.25	0.93	>100		3070	>10000	>10000	>100	2380	>10000	>10000	424		10.15	19.75	431		10.35	20.2
CM08-25	61339	371.25	372.25	1	5.3		47	1050	474	3.8	26	770	285
CM08-25	61340	372.25	373.25	1	2.9		13	631	958	2.2	13	512	714
CM08-25	61341	DUPLICATE			0.2		3	102	42	<0.5	4	71	23
CM08-25	61342	412.03	413.03	1	4.9		9	915	716	4.2	11	860	687
CM08-25	61343	413.03	414.03	1	2.1		8	197	393	1.7	12	165	195
CM08-25	61344	414.03	414.23	0.2	>100		1560	>10000	>10000	>100	1260	>10000	>10000	267		5.42	9.43	244		5.29	9.53
CM08-25	61345	414.23	415.23	1	2		17	160	201	1.5	13	133	99
CM08-25	61346	415.23	416.23	1	3.7		20	521	724	3.2	19	486	635
CM08-26	61347	171.58	172.58	1	<0.2		6	15	33	<0.5	8	27	37
CM08-26	61348	172.58	173.16	0.58	<0.2		8	22	32	<0.5	8	42	58
CM08-26	61349	173.16	174.16	1	<0.2		6	12	18	<0.5	8	20	15
CM08-26	61350	276.40	277.37	0.97	<0.2		15	21	30	<0.5	16	28	34
CM08-26	61351	277.37	278.12	0.75	<0.2		32	11	29	<0.5	28	17	27
CM08-26	61352	278.12	278.52	0.4	0.4		42	36	46	<0.5	37	48	51
CM08-26	61353	278.52	279.41	0.89	1.6		27	116	99	1.5	25	111	106
CM08-26	61354	BLANK		0	0.4		35	8	214	0.6	30	37	236
CM08-26	61355	279.41	280.42	1.01	0.4		28	44	89	<0.5	25	42	79
CM08-26	61356	280.42	281.36	0.94	0.2		14	23	57	<0.5	15	29	57
CM08-26	61357	314.12	315.12	1	<0.2		11	18	39	<0.5	15	23	45
CM08-26	61358	315.12	316.02	0.9	<0.2		11	14	34	<0.5	14	20	37
CM08-26	61359	316.02	316.77	0.75	<0.2		4	6	27	<0.5	7	16	28
CM08-26	61360	316.77	317.69	0.92	<0.2		5	9	101	<0.5	9	20	131
CM08-26	61361	317.69	318.61	0.92	<0.2		9	16	29	<0.5	12	26	32
CM08-26	61362	318.61	319.61	1	<0.2		11	10	37	<0.5	12	19	30
CM08-26	61363	DUPLICATE		0	<0.2		8	9	24	<0.5	10	26	27
CM08-26	61364	326.14	326.76	0.62	<0.2		9	23	77	<0.5	12	32	87
CM08-26	61365	326.76	327.76	1	<0.2		7	11	51	<0.5	11	22	51
CM08-26	61366	327.76	328.69	0.93	0.2		8	24	41	0.5	11	33	40
CM08-26	61367	328.69	329.16	0.47	7.6		150	286	4250	7.6	143	323	5510
CM08-26	61368	329.16	329.72	0.56	2		46	116	2730	1.6	50	128	2880

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 102

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-26	61369	329.72	330.62	0.9	0.2		4	27	96	0.5	6	41	54
CM08-26	61370	330.62	331.28	0.66	<0.2		2	19	40	<0.5	5	32	37
CM08-26	61371	331.28	332.01	0.73	<0.2		2	16	23	<0.5	4	29	27
CM08-26	61372	332.01	332.23	0.22	22		20	2830	3540	21.9	23	3190	5010
CM08-26	61373	332.23	332.80	0.57	<0.2		2	28	76	<0.5	4	37	26
CM08-26	61374	332.80	333.67	0.87	0.3		1	52	59	0.6	6	69	63
CM08-26	61375	BLANK		0	<0.2		1	4	13	<0.5	4	17	14
CM08-26	61376	338.82	340.15	1.33	0.6		2	37	73	0.6	5	50	94
CM08-26	61377	340.15	340.50	0.35	15.2		48	3840	4200	14.3	49	4300	5830
CM08-26	61378	340.50	341.32	0.82	<0.2		1	36	214	<0.5	4	54	97
CM08-26	61379	341.32	342.26	0.94	0.4		1	99	206	0.7	5	138	221
CM08-26	61380	355.15	356.05	0.9	<0.2		1	34	25	<0.5	3	49	34
CM08-26	61381	356.05	356.61	0.56	0.7		2	152	120	0.9	5	202	128
CM08-26	61382	356.61	357.12	0.51	1.6		3	403	386	1.8	6	514	436
CM08-26	61383	357.12	357.36	0.24	44.4		35	4200	5360	46.5	40	5280	7590
CM08-26	61384	357.36	357.73	0.37	3.5		6	655	648	3.7	8	732	525
CM08-26	61385	357.73	358.05	0.32	2		4	313	435	2	6	379	463
CM08-26	61386	358.05	358.75	0.7	3.8		5	536	521	3.3	8	586	551
CM08-26	61387	358.75	359.56	0.81	0.2		1	59	82	0.5	3	77	72
CM08-26	61388	DUPLICATE		0	0.7		2	123	293	0.7	4	152	283
CM08-26	61389	359.56	360.28	0.72	0.5		7	64	511	0.6	10	112	476
CM08-26	61390	360.28	360.45	0.17	6.6		37	2740	1590	7	17	3230	1920
CM08-26	61391	360.45	361.10	0.65	<0.2		2	33	54	<0.5	2	40	23
CM08-26	61392	361.10	361.83	0.73	0.7		1	129	147	0.6	3	152	149
CM08-26	61393	366.37	367.17	0.8	<0.2		1	18	36	<0.5	2	29	40
CM08-26	61394	367.17	367.81	0.64	<0.2		<1	16	15	<0.5	3	27	22
CM08-26	61395	367.81	368.31	0.5	<0.2		1	33	63	<0.5	2	45	59
CM08-26	61396	368.31	368.81	0.5	5.2		5	868	465	5.1	6	925	408
CM08-26	61397	368.81	369.34	0.53	0.2		1	43	68	0.5	3	62	64
CM08-26	61398	369.34	369.99	0.65	0.4		1	59	92	<0.5	3	60	83
CM08-26	61399	369.99	371.86	1.87	0.2		2	25	29	<0.5	3	32	25
CM08-26	61400	372.92	373.92	1	0.7		1	83	99	0.5	10	89	134

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 103

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-26	61401	373.92	374.92	1	0.2		<1	13	24	<0.5	9	22	32
CM08-26	61402	377.95	379.33	1.38	2.5		5	89	52	5.1	19	93	49
CM08-26	61403	379.33	381.65	2.32	0.2		1	20	35	<0.5	8	19	32
CM08-26	61404	381.65	381.95	0.3	0.7		3	96	82	0.5	9	89	68
CM08-26	61405	381.95	382.90	0.95	0.3		<1	15	23	<0.5	8	17	16
CM08-26	61406	382.90	384.05	1.15	0.2		<1	12	27	<0.5	8	16	24
CM08-26	61407	384.05	385.05	1	0.2		2	13	27	<0.5	9	19	30
CM08-26	61408	BLANK		0	0.4		1	7	24	<0.5	8	13	24
CM08-26	61409	385.05	386.05	1	<0.2		<1	6	17	<0.5	8	11	10
CM08-26	61410	386.05	387.03	0.98	0.3		1	16	35	<0.5	4	19	29
CM08-26	61411	387.03	388.03	1	0.2		<1	31	78	<0.5	4	26	58
CM08-26	61412	388.03	388.81	0.78	0.5		9	67	122	0.5	12	65	123
CM08-26	61413	414.53	415.49	0.96	0.3		1	20	34	<0.5	3	17	25
CM08-26	61414	DUPLICATE		0	0.3		1	13	20	<0.5	3	17	16
CM08-26	61415	415.49	416.45	0.96	0.4		1	10	13	<0.5	3	14	15
CM08-26	61416	416.45	416.72	0.27	5.4		<1	13	22	2.7	4	17	27
CM08-26	61417	416.72	416.92	0.2	0.4		1	36	65	<0.5	4	37	49
CM08-26	61418	416.92	417.12	0.2	4.9		14	172	129	1.4	13	159	109
CM08-26	61419	417.12	417.58	0.46	3.7		21	508	1135	3	21	477	990
CM08-26	61420	417.58	418.40	0.82	0.6		10	38	90	<0.5	12	44	77
CM08-26	61421	418.40	419.40	1	<0.2		15	15	35	<0.5	16	21	35
CM08-26	61422	419.40	419.93	0.53	0.3		35	28	128	<0.5	29	36	111
CM08-26	61423	419.93	420.43	0.5	0.3		31	34	63	<0.5	28	40	55
CM08-26	61424	420.43	420.62	0.19	0.7		128	105	182	0.5	110	108	150
CM08-26	61425	420.62	421.70	1.08	<0.2		41	21	38	<0.5	42	29	42
CM08-26	61426	421.70	422.70	1	0.2		72	31	45	<0.5	62	40	39
CM08-26	61427	422.70	423.15	0.45	1		229	165	292	0.8	187	160	262
CM08-26	61428	423.15	423.67	0.52	0.6		42	65	215	<0.5	42	71	197
CM08-26	61429	423.67	424.55	0.88	0.7		89	84	190	0.6	81	87	176
CM08-26	61430	424.55	424.75	0.2	0.3		34	18	44	<0.5	35	24	44
CM08-26	61431	424.75	425.15	0.4	0.2		56	34	64	<0.5	54	36	62
CM08-26	61432	425.15	426.20	1.05	0.2		20	11	15	<0.5	23	14	16

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 104

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-26	61433	426.20	427.08	0.88	0.2		30	14	19	<0.5	26	18	19
CM08-26	61434	BLANK		0	0.9		1	10	17	<0.5	5	13	13
CM08-26	61435	427.08	427.32	0.24	0.6		174	31	34	0.5	144	35	34
CM08-26	61436	427.32	428.30	0.98	<0.2		17	20	32	<0.5	21	23	31
CM08-26	61437	428.30	429.30	1	0.4		18	86	102	<0.5	21	84	93
CM08-26	61438	429.30	429.77	0.47	0.6		31	131	280	0.5	31	131	270
CM08-26	61439	DUPLICATE		0	0.5		23	47	41	<0.5	24	47	40
CM08-27	80657	214.42	215.45	1.03	<0.2		10	13	63	<0.5	12	19	53
CM08-27	80658	215.45	216.41	0.96	<0.2		11	17	61	<0.5	15	23	65
CM08-27	80659	216.41	216.86	0.45	<0.2		16	30	143	<0.5	20	40	134
CM08-27	80660	216.86	217.21	0.35	<0.2		11	16	74	<0.5	14	25	72
CM08-27	80661	217.21	218.08	0.87	<0.2		10	17	69	<0.5	14	26	64
CM08-27	80662	218.08	219.06	0.98	<0.2		10	16	79	<0.5	15	20	76
CM08-27	80663	245.38	246.35	0.97	<0.2		12	16	49	<0.5	15	18	45
CM08-27	80664	246.35	247.28	0.93	<0.2		8	14	38	<0.5	12	20	38
CM08-27	80665	247.28	247.81	0.53	<0.2		13	23	52	<0.5	11	17	41
CM08-27	80666	247.81	248.81	1	<0.2		13	20	66	<0.5	16	19	63
CM08-27	80667	248.81	249.68	0.87	<0.2		11	14	53	<0.5	15	20	42
CM08-27	80668	276.97	277.62	0.65	<0.2		13	18	57	<0.5	18	23	22
CM08-27	80669	279.42	280.42	1	<0.2		9	18	56	<0.5	13	23	54
CM08-27	80670	280.42	281.52	1.1	<0.2		11	31	152	<0.5	17	34	135
CM08-27	80671	284.84	285.64	0.8	<0.2		9	25	95	<0.5	13	31	92
CM08-27	80672	285.64	286.51	0.87	<0.2		10	10	39	<0.5	14	18	36
CM08-27	80673	BLANK			<0.2		28	8	82	<0.5	28	15	78
CM08-27	80674	286.51	286.72	0.21	1.9		43	572	2600	1.7	43	520	2720
CM08-27	80675	286.72	287.31	0.59	0.4		6	56	116	<0.5	9	58	99
CM08-27	80676	287.31	287.93	0.62	<0.2		6	10	29	<0.5	8	18	24
CM08-27	80677	287.93	288.83	0.9	<0.2		9	10	94	<0.5	10	18	67
CM08-27	80678	288.83	289.56	0.73	<0.2		5	10	51	<0.5	9	17	41
CM08-27	80679	DUPLICATE		0	<0.2		5	12	38	<0.5	7	18	33
CM08-27	80680	297.82	299.00	1.18	<0.2		9	11	72	<0.5	13	15	69
CM08-27	80681	299.00	300.00	1	<0.2		11	13	88	<0.5	14	15	79

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 105

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-27	80682	300.00	300.54	0.54	<0.2		8	11	45	<0.5	12	15	43
CM08-27	80683	300.54	300.87	0.33	<0.2		10	20	36	<0.5	13	21	32
CM08-27	80684	300.87	301.20	0.33	<0.2		4	27	45	<0.5	8	32	37
CM08-27	80685	301.20	301.75	0.55	0.5		11	122	294	0.6	13	111	252
CM08-27	80686	301.75	302.51	0.76	<0.2		8	20	34	<0.5	11	23	34
CM08-27	80687	302.51	303.55	1.04	0.2		7	43	149	<0.5	11	44	132
CM08-27	80688	303.55	304.15	0.6	<0.2		13	41	103	<0.5	16	41	96
CM08-27	80689	304.15	304.80	0.65	3.8		24	893	886	3	24	770	746
CM08-27	80690	304.80	305.80	1	<0.2		13	62	377	<0.5	16	66	343
CM08-27	80691	305.80	306.50	0.7	<0.2		9	9	47	<0.5	12	17	41
CM08-27	80692	306.50	306.90	0.4	<0.2		8	10	28	<0.5	13	24	40
CM08-27	80693	306.90	307.85	0.95	<0.2		9	11	35	<0.5	12	14	35
CM08-27	80694	307.85	308.88	1.03	<0.2		10	12	48	<0.5	13	18	44
CM08-27	80695	331.57	332.23	0.66	<0.2		13	16	91	<0.5	17	18	81
CM08-27	80696	333.98	334.28	0.3	<0.2		14	53	185	<0.5	17	46	147
CM08-27	80697	334.28	334.53	0.25	0.6		7	88	92	0.9	11	101	99
CM08-27	80698	334.53	335.05	0.52	0.2		9	41	36	0.5	13	44	34
CM08-27	80699	BLANK			0.2		25	8	80	<0.5	24	12	70
CM08-27	80700	335.05	335.98	0.93	0.7		16	68	264	0.8	19	65	230
CM08-27	80701	339.43	339.93	0.5	0.4		17	23	893	<0.5	22	27	960
CM08-27	80702	339.93	340.38	0.45	0.2		9	19	39	<0.5	13	18	42
CM08-27	80703	340.38	341.23	0.85	0.2		12	19	50	<0.5	15	18	57
CM08-27	80704	DUPLICATE		0	<0.2		10	16	59	<0.5	12	16	61
CM08-27	80705	341.23	341.68	0.45	0.2		13	14	59	<0.5	15	16	63
CM08-27	80706	341.68	342.28	0.6	<0.2		8	30	142	<0.5	11	29	140
CM08-27	80707	342.28	342.70	0.42	<0.2		5	10	45	<0.5	7	13	45
CM08-27	80708	342.70	343.05	0.35	0.2		6	14	53	<0.5	10	<5	54
CM08-27	80709	343.05	343.55	0.5	0.2		11	13	85	<0.5	14	16	84
CM08-27	80710	343.55	344.42	0.87	0.2		11	17	70	<0.5	14	16	69
CM08-27	80711	348.94	349.54	0.6	0.2		9	13	63	<0.5	12	14	64
CM08-27	80712	349.54	350.52	0.98	0.2		8	12	211	<0.5	11	16	220
CM08-27	80713	350.52	351.30	0.78	0.3		8	19	256	<0.5	13	22	274

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 106

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-27	80714	351.30	352.20	0.9	0.2		8	15	28	<0.5	11	17	31
CM08-27	80715	352.20	353.15	0.95	0.2		10	16	91	<0.5	14	18	94
CM08-27	80716	353.15	354.10	0.95	<0.2		10	11	100	<0.5	14	16	103
CM08-27	80717	354.10	354.78	0.68	2.9		21	2240	971	3	25	2380	1055
CM08-27	80718	354.78	355.78	1	0.3		6	353	533	<0.5	10	381	594
CM08-27	80719	355.78	356.62	0.84	0.2		6	27	68	<0.5	9	32	69
CM08-27	80720	356.62	357.55	0.93	<0.2		7	11	11	<0.5	10	18	14
CM08-27	80721	357.55	358.50	0.95	0.3		10	23	20	<0.5	10	19	16
CM08-27	80722	358.50	359.08	0.58	1.2		7	128	1170	1.1	10	120	1170
CM08-27	80723	359.08	359.48	0.4	3.6		6	331	2710	3.5	9	331	2550
CM08-27	80724	BLANK		0	0.3		<1	7	18	<0.5	4	13	13
CM08-27	80725	359.48	359.92	0.44	0.2		4	12	301	<0.5	9	18	295
CM08-27	80726	359.92	360.27	0.35	0.2		2	7	199	<0.5	6	15	206
CM08-27	80727	360.27	360.70	0.43	0.2		5	11	640	<0.5	8	20	653
CM08-27	80728	DUPLICATE		0	<0.2		5	13	360	<0.5	7	17	339
CM08-27	80729	360.70	361.10	0.4	0.7		11	143	1440	0.8	14	136	1360
CM08-27	80730	361.10	361.55	0.45	0.8		9	29	675	0.7	11	28	666
CM08-27	80731	361.55	362.05	0.5	0.7		6	72	824	0.7	8	72	786
CM08-27	80732	362.05	362.32	0.27	0.4		12	59	795	0.5	17	62	772
CM08-27	80733	362.32	362.71	0.39	0.4		16	45	1360	0.6	20	49	1440
CM08-27	80734	362.71	363.24	0.53	19.7		98	1200	7440	17	98	1160	8560
CM08-27	80735	363.24	363.73	0.49	40.5		132	2050	>10000	36.8	127	2020	>10000				1.25				1.21
CM08-27	80736	363.73	364.31	0.58	83.4		108	4230	>10000	75.8	107	4130	>10000				1.76				1.72
CM08-27	80737	364.31	364.88	0.57	24		144	1230	>10000	21.5	132	1170	>10000				1.08				1.04
CM08-27	80738	364.88	365.46	0.58	23		173	1020	>10000	20.1	162	982	>10000				1.16				1.15
CM08-27	80739	365.46	365.75	0.29	1.1		68	48	295	1	65	47	275
CM08-27	80740	365.75	366.15	0.4	2.3		99	136	4250	2	98	137	4660
CM08-27	80741	366.15	366.55	0.4	2.8		57	198	4680	3	60	203	4900
CM08-27	80742	366.55	366.75	0.2	49		526	4440	>10000	41.2	418	4020	>10000				12.15				10.15
CM08-27	80743	366.75	366.95	0.2	36.9		446	>10000	>10000	32.5	422	>10000	>10000			1.37	5.6			1.34	5.84

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 107

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-27	80744	366.95	367.48	0.53	0.5		6	106	294	0.5	9	111	268
CM08-27	80745	367.48	367.93	0.45	0.6		7	44	593	0.5	11	49	584
CM08-27	80746	367.93	368.31	0.38	0.4		19	63	335	<0.5	23	70	344
CM08-27	80747	368.31	368.45	0.14	>100		696	>10000	>10000	>100	660	>10000	>10000	175		4.61	12.1	160		4.39	11.95
CM08-27	80748	BLANK		0	0.8		2	110	224	<0.5	4	81	146
CM08-27	80749	368.45	368.97	0.52	0.3		12	54	406	<0.5	15	45	373
CM08-27	80750	368.97	369.35	0.38	0.9		14	224	452	0.9	24	235	448
CM08-27	80751	369.35	369.77	0.42	<0.2		15	19	56	<0.5	24	23	43
CM08-27	80752	369.77	370.17	0.4	<0.2		10	10	22	<0.5	21	19	25
CM08-27	80753	DUPLICATE			<0.2		16	16	41	<0.5	29	24	38
CM08-27	80754	370.17	370.56	0.39	<0.2		9	9	22	<0.5	19	19	22
CM08-27	80755	370.56	370.96	0.4	0.2		9	10	15	<0.5	19	17	18
CM08-27	80756	370.96	371.45	0.49	<0.2		16	14	83	<0.5	26	26	89
CM08-27	80757	371.45	372.26	0.81	0.2		24	23	277	<0.5	30	32	276
CM08-27	80758	372.26	372.56	0.3	0.3		16	149	279	0.5	25	153	279
CM08-27	80759	372.56	372.92	0.36	0.7		33	98	1255	<0.5	39	98	1240
CM08-27	80760	372.92	373.19	0.27	<0.2		9	8	100	<0.5	17	15	98
CM08-27	80761	373.19	373.53	0.34	0.2		6	9	75	<0.5	15	16	74
CM08-27	80762	373.53	373.70	0.17	0.2		12	16	102	<0.5	19	18	107
CM08-27	80763	373.70	373.95	0.25	0.4		10	16	210	<0.5	17	22	210
CM08-27	80764	373.95	374.29	0.34	0.2		11	19	127	<0.5	18	24	131
CM08-27	80765	374.29	374.54	0.25	0.3		13	37	129	<0.5	19	42	127
CM08-27	80766	374.54	375.22	0.68	<0.2		11	27	81	<0.5	19	31	82
CM08-27	80767	375.22	375.52	0.3	0.2		16	29	84	<0.5	22	33	80
CM08-27	80768	375.52	375.83	0.31	0.3		31	29	126	<0.5	35	35	124
CM08-27	80769	375.83	376.32	0.49	<0.2		10	22	73	<0.5	17	28	78
CM08-27	80770	376.32	376.85	0.53	0.2		8	33	54	<0.5	15	37	56
CM08-27	80771	376.85	377.42	0.57	<0.2		8	15	121	<0.5	16	24	121
CM08-27	80772	377.42	377.95	0.53	0.3		6	34	61	<0.5	15	41	67
CM08-27	80773	BLANK			0.3		1	6	19	<0.5	10	17	20
CM08-27	80774	377.95	378.48	0.53	0.3		3	14	32	<0.5	12	20	36
CM08-27	80775	378.48	379.08	0.6	0.2		6	20	92	<0.5	14	26	85

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 108

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-27	80776	379.08	379.57	0.49	0.3		5	91	96	<0.5	13	92	97
CM08-27	80777	379.57	379.81	0.24	0.4		3	66	88	<0.5	12	72	87
CM08-27	80778	379.81	380.23	0.42	26.8		49	2370	8720	21.8	50	2120	8250
CM08-27	80779	380.23	380.70	0.47	0.4		2	11	34	<0.5	9	20	32
CM08-27	80780	380.70	381.37	0.67	0.7		2	19	86	<0.5	11	27	88
CM08-27	80781	381.37	381.70	0.33	0.6		2	22	74	<0.5	13	32	80
CM08-27	80782	381.70	382.66	0.96	0.2		2	8	15	<0.5	10	18	18
CM08-27	80783	DUPLICATE			<0.2		2	8	14	<0.5	10	17	16
CM08-27	80784	382.66	382.66	0	0.2		1	9	7	<0.5	9	17	9
CM08-27	80785	382.66	383.68	1.02	0.8		2	91	111	0.7	9	89	103
CM08-27	80786	388.72	389.98	1.26	<0.2		3	25	55	0.5	9	25	45
CM08-27	80787	389.98	390.49	0.51	<0.2		2	170	85	0.7	9	144	76
CM08-27	80788	390.49	390.67	0.18	30.8		348	1630	>10000	28.9	331	1405	>10000				4.23				4.19
CM08-27	80789	390.67	391.64	0.97	2.3		24	636	7430	2.5	21	557	7010
CM08-27	80790	391.64	392.66	1.02	<0.2		2	42	263	0.6	9	36	116
CM08-27	80791	396.66	397.21	0.55	1.1		21	117	2390	1.7	23	101	2310
CM08-27	80792	397.21	397.85	0.64	9.9		9	1625	561	6.7	13	1265	434
CM08-27	80793	397.85	398.55	0.7	4.3		139	217	>10000	3.4	107	189	>10000				1.42				1.44
CM08-27	80794	398.55	398.67	0.12	16.4		42	2250	3980	11.8	39	2010	4280
CM08-27	80795	398.67	399.13	0.46	<0.2		3	24	233	<0.5	9	21	124
CM08-27	80796	399.13	399.29	0.16	4.6		177	85	>10000	3.1	153	69	>10000				1.4				1.48
CM08-27	80797	399.29	400.00	0.71	0.3		6	54	379	1	10	47	172
CM08-27	80798	400.00	401.00	1	<0.2		1	14	64	<0.5	8	15	46
CM08-27	80799	401.00	401.60	0.6	0.2		7	49	493	0.7	12	43	473
CM08-27	80800	401.60	401.72	0.12	<0.2		1	16	44	<0.5	7	18	20
CM08-27	80801	401.72	402.12	0.4	8.5		148	246	>10000	6.6	121	203	>10000				1.35				1.36
CM08-27	80802	402.12	403.12	1	<0.2		22	11	155	<0.5	8	15	87
CM08-27	80803	BLANK			0.3		3	9	59	0.6	8	9	36
CM08-27	80804	403.12	404.12	1	<0.2		1	6	23	<0.5	9	11	20
CM08-27	80805	404.12	405.12	1	<0.2		1	11	26	<0.5	7	11	17

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 109

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-27	80806	405.12	406.03	0.91	0.2		3	19	52	0.6	8	18	49
CM08-27	80807	406.03	406.51	0.48	<0.2		1	6	15	<0.5	6	11	8
CM08-27	80808	DUPLICATE			<0.2		1	8	12	0.5	7	11	8
CM08-27	80809	406.51	407.09	0.58	15.3		203	5850	212	11.9	205	4660	179
CM08-27	80810	407.09	407.67	0.58	9		22	2010	325	6.4	24	1575	306
CM08-27	80811	407.67	408.25	0.58	1.3		4	126	42	1.1	10	102	29
CM08-27	80812	408.25	408.74	0.49	<0.2		1	39	50	<0.5	8	34	34
CM08-27	80813	408.74	409.33	0.59	<0.2		1	21	38	<0.5	7	18	16
CM08-27	80814	409.33	410.01	0.68	<0.2		2	17	151	0.5	8	16	116
CM08-27	80815	414.65	415.65	1	<0.2		1	31	55	<0.5	6	19	45
CM08-27	80816	415.65	416.65	1	7.8		7	1065	320	5.5	11	911	251
CM08-27	80817	416.65	417.65	1	<0.2		1	20	27	<0.5	7	18	15
CM08-27	80818	417.65	418.65	1	<0.2		1	26	48	<0.5	7	24	33
CM08-27	80819	418.65	419.65	1	3.4		8	886	667	1.9	15	490	491
CM08-27	80820	419.65	420.65	1	3.3		14	522	665	1.9	13	393	600
CM08-27	80821	420.65	421.65	1	0.5		2	33	25	<0.5	7	26	19
CM08-27	80822	421.65	422.65	1	1.8		6	152	190	1.1	10	134	126
CM08-27	80823	422.65	423.65	1	6		5	732	150	3.7	10	552	144
CM08-27	80824	423.65	424.65	1	0.3		1	24	40	<0.5	6	26	31
CM08-27	80825	424.65	425.65	1	0.3		1	15	40	<0.5	6	20	29
CM08-27	80826	425.65	426.65	1	<0.2		<1	16	24	<0.5	9	19	19
CM08-27	80827	429.60	430.60	1	0.3		1	35	72	<0.5	8	36	70
CM08-27	80828	BLANK			1.3		2	12	33	0.5	9	16	23
CM08-27	80829	430.60	431.00	0.4	41.5		18	7370	879	35	23	6270	1015
CM08-27	80830	431.00	432.00	1	0.5		1	62	53	<0.5	8	56	34
CM08-27	80831	436.25	437.25	1	7.8		6	1680	487	5	13	1115	540
CM08-27	80832	437.25	438.25	1	1		3	188	355	0.7	10	147	353
CM08-27	80833	438.25	439.25	1	0.2		<1	15	15	<0.5	8	19	12
CM08-27	80834	DUPLICATE			0.2		<1	8	14	<0.5	8	15	11
CM08-27	80835	439.25	439.90	0.65	0.4		<1	41	38	<0.5	8	34	41
CM08-27	80836	439.90	440.10	0.2	50.6		160	>10000	>10000	44.7	133	>10000	>10000			1.01	3.43			1.03	3.44
CM08-27	80837	440.10	440.60	0.5	0.6		1	67	181	<0.5	9	57	159

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 110

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-27	80838	440.60	441.40	0.8	0.4		1	56	156	<0.5	9	56	138
CM08-27	80839	441.40	442.40	1	0.4		1	38	57	<0.5	9	32	43
CM08-27	80840	442.40	443.05	0.65	0.3		1	45	140	<0.5	8	64	90
CM08-27	80841	443.05	443.75	0.7	>100		1570	>10000	>10000	>100	1385	>10000	>10000	255		6.13	18.6	236		6.26	17.8
CM08-27	80842	443.75	444.40	0.65	>100		1145	>10000	>10000	>100	902	>10000	>10000	181		2.95	5.9	168		3.07	6.3
CM08-27	80843	444.40	445.40	1	1.8		8	353	628	1.2	14	300	524
CM08-27	80844	445.40	446.40	1	3.5		40	677	2880	2.9	39	584	2850
CM08-28	80845	95.81	96.81	1	<0.2		9	42	355	<0.5	14	39	298
CM08-28	80846	96.81	97.81	1	<0.2		10	90	393	<0.5	15	84	340
CM08-28	80847	97.81	98.91	1.1	<0.2		8	24	742	<0.5	15	28	636
CM08-28	80848	98.91	100.01	1.1	<0.2		12	64	397	<0.5	16	61	340
CM08-28	80849	100.01	101.08	1.07	<0.2		8	37	258	<0.5	13	39	224
CM08-28	80850	101.08	102.08	1	<0.2		11	72	416	<0.5	17	68	372
CM08-28	80851	102.08	102.90	0.82	<0.2		10	28	313	<0.5	15	31	280
CM08-28	80852	102.90	103.82	0.92	<0.2		12	33	389	<0.5	16	35	339
CM08-28	80853	103.82	104.82	1	<0.2		10	30	342	<0.5	15	28	302
CM08-28	80854	104.82	105.82	1	<0.2		13	31	512	<0.5	18	33	454
CM08-28	80855	105.82	106.68	0.86	0.3		12	53	348	0.6	21	57	330
CM08-28	80856	106.68	107.68	1	<0.2		26	25	311	<0.5	29	28	281
CM08-28	80857	BLANK			1.4		4	37	188	1.5	10	36	160
CM08-28	80858	193.86	194.83	0.97	<0.2		5	8	65	<0.5	11	13	59
CM08-28	80859	DUPLICATE		0	<0.2		5	8	62	<0.5	15	14	60
CM08-28	80860	194.83	195.83	1	<0.2		5	8	56	<0.5	10	14	55
CM08-28	80861	195.83	196.83	1	<0.2		7	15	64	<0.5	12	20	60
CM08-28	80862	196.83	197.65	0.82	<0.2		6	9	49	<0.5	11	12	43
CM08-28	80863	197.65	198.65	1	<0.2		5	14	84	<0.5	13	16	79
CM08-28	80864	198.65	199.65	1	<0.2		5	10	78	<0.5	12	17	70
CM08-28	80865	199.65	200.65	1	<0.2		8	16	64	<0.5	14	14	57
CM08-28	80866	200.65	201.60	0.95	<0.2		5	12	41	<0.5	11	13	36
CM08-28	80867	201.60	202.57	0.89	<0.2		5	14	76	<0.5	13	17	70
CM08-28	80868	225.50	226.50	1	<0.2		5	30	70	<0.5	11	32	65

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 111

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-28	80869	226.50	227.35	0.85	<0.2		5	37	59	<0.5	11	36	53
CM08-28	80870	227.35	227.80	0.45	<0.2		5	88	127	<0.5	12	84	115
CM08-28	80871	227.80	228.20	0.4	<0.2		7	97	341	<0.5	13	88	302
CM08-28	80872	228.20	228.70	0.5	0.4		7	133	193	0.5	12	112	165
CM08-28	80873	228.70	229.10	0.4	0.7		7	264	663	0.9	13	235	571
CM08-28	80874	229.10	230.10	1	0.4		5	178	503	0.6	12	158	438
CM08-28	80875	230.10	231.00	0.9	0.7		6	130	330	0.8	13	122	269
CM08-28	80876	231.00	232.65	1.65	0.6		6	119	262	0.6	14	111	247
CM08-28	80877	232.65	233.65	1	<0.2		7	24	212	0.5	13	28	178
CM08-28	80878	233.65	234.50	0.85	0.5		8	22	85	0.5	15	22	78
CM08-28	80879	234.50	235.68	1.18	2.1		7	50	86	1.8	13	49	79
CM08-28	80880	235.68	235.88	0.2	>100		174	>10000	>10000	96.8	165	>10000	>10000	110		4.98	1.17			4.91	1.1
CM08-28	80881	235.88	236.58	0.7	4.8		19	1655	1375	4.1	23	1500	1240
CM08-28	80882	DUPLICATE		0	4.5		22	1270	1530	4	26	1205	1405
CM08-28	80883	236.58	237.38	0.8	1.3		9	72	168	1.2	15	70	207
CM08-28	80884	237.38	238.28	0.9	1.4		8	73	71	1.3	14	71	78
CM08-28	80885	BLANK		0	<0.2		36	8	248	<0.5	36	13	237
CM08-28	80886	440.00	441.00	1	<0.2		14	30	68	<0.5	19	33	79
CM08-28	80887	441.00	441.96	0.96	1.2		20	385	996	1.1	24	338	961
CM08-28	80888	441.96	442.96	1	<0.2		8	380	1055	0.5	14	346	1015
CM08-28	80889	442.96	443.90	0.94	<0.2		7	12	51	<0.5	13	16	45
CM08-28	80890	443.90	445.01	1.11	<0.2		7	10	26	<0.5	15	20	25
CM08-28	80891	445.01	446.00	0.99	<0.2		6	12	34	<0.5	13	20	34
CM08-28	80892	446.00	447.00	1	<0.2		9	18	103	<0.5	15	18	94
CM08-28	80893	447.00	447.86	0.86	<0.2		6	7	26	<0.5	12	12	27
CM08-28	80894	447.86	448.18	0.32	<0.2		3	7	24	<0.5	9	11	39
CM08-28	80895	448.18	448.80	0.62	0.4		11	20	57	<0.5	12	20	52
CM08-28	80896	448.80	449.70	0.9	<0.2		6	9	18	<0.5	12	11	14
CM08-28	80897	BLANK		0	<0.2		33	9	205	0.5	39	12	179
CM08-28	80898	449.70	451.10	1.4	<0.2		9	11	100	<0.5	14	16	88
CM08-28	80899	461.30	462.30	1	13		54	1300	3500	10.7	55	1240	3490
CM08-28	80900	DUPLICATE		0	19.8		44	1135	3840	15.3	46	1090	3930

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 112

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-28	80901	462.30	462.95	0.65	93		367	>10000	>10000	74.4	325	>10000	>10000			1.44	3.76			1.46	3.48
CM08-28	80902	462.95	463.30	0.35	54.7		445	3450	>10000	42.6	376	3080	>10000				4.69				4.2
CM08-28	80903	463.30	463.70	0.4	25.1		90	2030	3810	18.2	82	1815	3720
CM08-28	80904	463.70	464.10	0.4	1.6		13	335	895	1.6	18	315	716
CM08-28	80905	464.10	465.00	0.9	<0.2		5	23	51	<0.5	10	24	46
CM08-28	80906	465.00	465.80	0.8	<0.2		4	14	27	<0.5	10	15	22
CM08-28	80907	465.80	466.80	1	<0.2		4	19	29	<0.5	11	21	28
CM08-28	80908	466.80	467.57	0.77	<0.2		12	18	814	<0.5	16	20	677
CM08-28	80909	467.57	468.17	0.6	>100		520	>10000	>10000	>100	503	>10000	>10000	180		3.57	9.24	159		3.61	9.21
CM08-28	80910	468.17	468.62	0.45	0.7		5	173	405	0.6	9	135	193
CM08-28	80911	468.62	469.62	1	1.3		6	358	818	1.4	12	332	660
CM08-28	80912	469.62	470.62	1	<0.2		3	18	32	<0.5	8	18	17
CM08-28	80913	470.62	471.62	1	<0.2		3	21	38	<0.5	8	20	35
CM08-28	80914	471.62	472.44	0.82	<0.2		2	12	35	<0.5	8	13	31
CM08-28	80915	472.44	473.44	1	<0.2		2	13	22	<0.5	8	13	20
CM08-28	80916	473.44	474.76	1.32	<0.2		2	11	17	<0.5	8	14	16
CM08-28	80917	BLANK			<0.2		42	10	605	0.9	45	18	526
CM08-28	80918	474.76	475.49	0.73	<0.2		2	41	51	<0.5	8	42	58
CM08-28	80919	475.49	476.85	1.36	<0.2		2	14	33	<0.5	8	17	31
CM08-28	80920	476.85	478.54	1.69	<0.2		4	328	425	<0.5	10	294	371
CM08-28	80921	478.54	479.14	0.6	0.3		9	278	1210	0.6	13	226	1040
CM08-28	80922	479.14	480.14	1	1.2		6	380	491	1.1	11	326	415
CM08-28	80923	480.14	481.14	1	<0.2		2	32	35	<0.5	8	34	29
CM08-28	80924	481.14	482.14	1	<0.2		2	35	44	<0.5	8	33	36
CM08-28	80925	DUPLICATE		0	<0.2		3	25	47	<0.5	9	25	36
CM08-28	80926	482.14	483.14	1	<0.2		2	20	13	<0.5	7	22	14
CM08-28	80927	483.14	483.42	0.28	<0.2		6	115	1120	<0.5	11	90	928
CM08-28	80928	483.42	484.02	0.6	>100		1030	>10000	>10000	>100	961	>10000	>10000	150		3.03	22.7	129		2.94	21.9
CM08-28	80929	484.02	485.52	1.5	1		8	76	560	<0.5	12	94	444
CM08-28	80930	485.52	485.82	0.3	>100		398	>10000	>10000	>100	403	>10000	>10000	163		4.54	7.51	144		4.38	7.53

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 113

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-28	80931	485.82	486.17	0.35	1.8		11	393	1190	1.4	12	355	976
CM08-28	80932	486.17	487.42	1.25	>100		1150	>10000	>10000	>100	1090	>10000	>10000	504		10.95	24.5	446		10.2	22.1
CM08-28	80933	487.42	488.13	0.71	3.3		14	672	875	2.2	16	610	688
CM08-28	80934	488.13	489.13	1	4.1		9	892	1275	3.7	14	774	1085
CM08-28	80935	489.13	490.43	1.3	5.4		6	896	497	5.2	11	820	403
CM08-28	80936	BLANK			0.8		52	67	1345	1.2	52	63	1110
CM08-28	80937	490.43	491.93	1.5	<0.2		2	50	43	<0.5	8	53	48
CM08-28	80938	491.93	492.93	1	0.2		4	152	202	0.5	9	133	179
CM08-28	80939	492.93	493.93	1	6.6		32	929	1780	7.4	35	877	1740
CM08-28	80940	493.93	494.73	0.8	1.2		4	364	169	1.5	9	331	159
CM08-28	80941	494.73	495.73	1	<0.2		3	55	187	0.5	9	55	162
CM08-28	80942	495.73	496.73	1	<0.2		3	37	86	<0.5	9	43	78
CM08-28	80943	496.73	497.73	1	<0.2		2	28	50	<0.5	7	31	48
CM08-28	80944	497.73	498.73	1	<0.2		2	21	31	<0.5	12	30	36
CM08-28	80945	498.73	499.73	1	<0.2		1	10	22	<0.5	7	14	27
CM08-28	80946	499.73	500.71	0.98	0.3		2	135	41	0.8	8	124	41
CM08-28	80947	500.71	501.74	1.03	<0.2		1	44	22	<0.5	8	52	25
CM08-28	80948	501.74	502.53	0.79	1		5	204	250	1.2	12	220	244
CM08-28	80949	502.53	503.73	1.2	54.2		305	8720	>10000	45.8	276	8210	>10000				2.46				2.34
CM08-28	80950	503.73	504.57	0.84	22.2		161	3440	>10000	18.1	157	3400	>10000				1.22				1.2
CM08-28	80951	504.57	505.32	0.75	5		31	1125	2160	3.9	35	1105	2630
CM08-28	80952	504.57	505.32	0.75	3.6		22	985	1890	2.9	26	886	1865
CM08-28	80953	505.32	506.34	1.02	3.9		25	1005	1875	2.6	25	956	1775
CM08-28	80954	506.34	507.34	1	4.1		30	1285	6230	3.3	32	1240	7120
CM08-28	80955	507.34	508.04	0.7	52		8	5590	264	42.5	16	5460	248
CM08-28	80956	508.04	508.99	0.95	0.4		2	97	292	<0.5	12	95	265
CM08-28	80957	BLANK		0	2.6		28	246	238	2.5	32	269	236
CM08-28	80958	508.99	509.99	1	<0.2		5	91	212	<0.5	11	92	179
CM08-28	80959	509.99	511.00	1.01	<0.2		1	22	30	<0.5	9	29	33
CM08-28	80960	511.00	511.63	0.63	0.5		1	96	71	0.5	9	101	73

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 114

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-28	80961	511.43	511.89	0.46	8.2		419	163	>10000	6.9	369	176	>10000				4.37				4.39
CM08-28	80962	511.89	513.16	1.27	<0.2		1	39	100	<0.5	10	52	69
CM08-28	80963	513.16	513.72	0.56	>100		2020	>10000	>10000	>100	1915	>10000	>10000	130		4.36	13.05	124		4.78	12.5
CM08-28	80964	513.72	513.81	0.09	28.6		132	1920	2300	22.4	118	1960	2140
CM08-28	80965	513.81	514.61	0.8	>100		1400	>10000	>10000	92.6	1215	>10000	>10000	97		2.39	1.56			2.57	1.53
CM08-28	80966	514.61	514.86	0.25	62.1		730	>10000	2300	53.2	652	>10000	2540			1.84				1.98
CM08-28	80967	514.86	515.33	0.47	>100		1660	>10000	>10000	>100	1425	>10000	>10000	265		5.61	2.18	238		5.81	2.2
CM08-28	80968	515.33	515.80	0.47	23.1		281	4980	1235	19.4	261	4940	1230
CM08-28	80969	515.80	516.03	0.23	>100		1590	>10000	9810	>100	1440	>10000	>10000	146		3.08		138		3.36	1.09
CM08-28	80970	516.03	516.76	0.73	5.8		57	1165	609	4.5	56	1160	542
CM08-28	80971	516.76	517.30	0.54	81.4		1250	>10000	6300	75.9	1135	>10000	6900			1.3				1.41
CM08-28	80972	517.30	518.16	0.86	94.9		722	2600	2920	62.2	681	2480	3060
CM08-28	80973	518.16	518.95	0.79	2.9		23	513	545	2.1	26	502	485
CM08-28	80974	518.95	519.81	0.86	1.2		9	66	80	1.5	16	57	60
CM08-28	80975	519.81	520.68	0.87	0.2		4	79	142	<0.5	11	79	122
CM08-28	80976	520.68	521.15	0.47	<0.2		2	33	27	<0.5	8	22	19
CM08-28	80977	BLANK		0	0.6		29	37	316	0.7	33	33	287
CM08-28	80978	521.15	521.68	0.53	0.3		2	24	29	<0.5	8	28	26
CM08-28	80979	DUPLICATE		0.53	<0.2		3	20	26	<0.5	11	36	27
CM08-28	80980	521.68	522.35	0.67	<0.2		2	20	27	<0.5	8	30	20
CM08-28	80981	522.35	522.55	0.2	1.8		13	253	637	1.4	20	273	601
CM08-28	80982	522.55	523.57	1.02	0.2		5	39	814	<0.5	12	39	725
CM08-28	80983	523.57	524.55	0.98	<0.2		2	35	86	<0.5	9	45	63
CM08-28	80984	524.55	525.50	0.95	<0.2		1	9	35	<0.5	8	32	33
CM08-28	80985	540.43	541.43	1	4.9		219	17	13	4	194	24	17
CM08-28	80986	541.43	541.63	0.2	1.1		13	151	170	1.2	21	127	147
CM08-28	80987	541.63	542.63	1	1.5		45	448	994	1.5	47	366	815
CM08-28	80988	542.63	543.63	1	0.2		1	29	145	<0.5	11	34	134
CM08-28	80989	543.63	544.63	1	0.5		13	40	55	<0.5	21	40	54
CM08-28	80990	544.63	545.63	1	0.2		<1	15	33	<0.5	9	21	33

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 115

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-28	80991	545.63	546.63	1	0.6		14	9	16	0.5	20	16	17
CM08-28	80992	546.63	547.63	1	0.4		2	54	119	0.7	11	51	89
CM08-28	80993	547.63	548.48	0.85	0.2		4	15	11	<0.5	12	17	11
CM08-28	80994	548.48	549.22	0.74	0.3		7	53	143	0.6	13	42	105
CM08-28	80995	549.22	549.67	0.45	>100		283	>10000	>10000	>100	274	>10000	>10000	>1500		>20.0	3.28	1490		>30.0	3.07	1400	42.35
CM08-28	80996	549.67	550.67	1	1.4		2	434	119	4	9	357	161
CM08-28	80997	BLANK		0	9.4		50	2010	595	7.9	50	1615	494
CM08-28	80998	550.67	551.67	1	0.4		<1	79	122	0.7	8	78	101
CM08-28	80999	551.67	552.67	1	<0.2		3	34	7	0.6	8	32	15
CM08-28	81000	552.67	553.67	1	13		4	3510	44	10.7	13	3000	44
CM08-28	99050	553.67	554.70	1.03	0.5		<1	63	60	<0.5	8	63	47
CM08-28	99051	554.70	555.26	0.56	0.8		3	200	131	0.7	14	158	129
CM08-28	99052	555.26	555.88	0.62	0.5		6	63	178	0.5	15	49	143
CM08-28	99053	555.88	556.08	0.2	53.1		929	>10000	>10000	40.8	749	>10000	>10000			2.04	3.12			2.2	3.25
CM08-28	99054	556.08	556.48	0.4	3.3		3	44	30	1.3	24	51	662
CM08-28	99055	556.08	556.48	0.4	1.2		<1	64	21	1	9	54	31
CM08-28	99056	556.48	556.88	0.4	0.6		<1	49	47	1	9	73	70
CM08-28	99057	556.88	557.08	0.2	>100		87	>10000	>10000	>100	85	>10000	>10000	115		2.31	2.55	115		2.45	2.64
CM08-28	99058	557.08	558.06	0.98	1		2	44	30	4.3	9	50	203
CM08-28	99059	558.06	559.11	1.05	>100		372	>10000	>10000	>100	336	>10000	>10000	282		7.51	7.95	251		7.41	7.74
CM08-28	99060	559.11	560.11	1	1.6		7	313	1055	2.4	16	452	1195
CM08-28	99061	560.11	561.03	0.92	<0.2		8	31	86	1	14	33	172
CM08-28	99062	561.03	561.78	0.75	0.8		10	140	132	1	16	134	128
CM08-28	99063	561.78	562.53	0.75	0.9		16	152	984	1.1	24	152	911
CM08-28	99064	562.53	563.52	0.99	0.5		8	116	421	0.6	14	106	362
CM08-28	99065	599.08	600.37	1.29	<0.2		18	25	76	<0.5	18	35	73
CM08-28	99066	BLANK		0	0.3		56	22	607	1.6	53	34	561
CM08-28	99067	600.37	601.64	1.27	<0.2		11	23	66	0.5	15	29	67
CM08-28	99068	601.64	602.03	0.39	<0.2		13	23	75	<0.5	22	36	82
CM08-28	99069	602.03	602.53	0.5	<0.2		11	18	43	<0.5	19	29	49

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 116

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-28	99070	602.53	603.52	0.99	<0.2		10	19	39	<0.5	15	37	55
CM08-28	99071	603.52	604.36	0.84	<0.2		10	14	45	<0.5	17	27	60
CM08-28	99072	604.36	605.12	0.76	<0.2		11	19	89	<0.5	22	31	88
CM08-29	61440	55.18	56.10	0.92	1.1		16	47	208	1	22	53	199
CM08-29	61441	56.10	57.10	1	2.1		17	226	629	2.2	19	214	591
CM08-29	61442	57.10	57.60	0.5	4.9		7	447	892	4.8	11	425	817
CM08-29	61443	57.60	57.80	0.2	0.6		2	317	501	0.6	5	307	451
CM08-29	61444	57.80	58.30	0.5	1.4		6	240	373	1.8	9	256	380
CM08-29	61445	58.30	58.80	0.5	0.7		6	43	492	0.7	11	60	477
CM08-29	61446	58.80	59.35	0.55	0.7		7	45	648	0.8	12	55	597
CM08-29	61447	59.35	59.90	0.55	0.8		8	35	432	0.9	12	46	403
CM08-29	61448	59.90	60.30	0.4	0.6		7	26	248	0.9	14	39	242
CM08-29	61449	60.30	61.00	0.7	0.6		8	26	313	0.9	12	39	284
CM08-29	61450	61.00	61.65	0.65	0.5		5	22	251	0.5	9	43	241
CM08-29	61451	61.65	62.65	1	0.5		10	46	354	0.7	14	60	345
CM08-29	61452	476.89	477.89	1	<0.2		3	21	23	<0.5	10	35	51
CM08-29	61453	477.89	478.45	0.56	<0.2		3	59	507	<0.5	10	71	460
CM08-29	61454	BLANK		0	<0.2		19	10	110	0.6	23	21	104
CM08-29	61455	478.45	479.41	0.96	0.4		9	418	255	1.1	14	389	214
CM08-29	61456	486.13	487.13	1	<0.2		4	35	160	0.5	10	44	146
CM08-29	61457	487.13	487.51	0.38	>100		602	>10000	>10000	>100	544	>10000	>10000	623		13.45	13.55	589		13.35	13.15
CM08-29	61458	487.51	487.76	0.25	2.1		1	334	350	2.6	10	447	414
CM08-29	61459	487.76	488.06	0.3	41.3		379	5030	>10000	33.1	318	4660	>10000				2.62				2.67
CM08-29	61460	488.06	489.21	1.15	17.1		19	3150	2980	14.4	22	2790	3160
CM08-29	61461	489.21	490.21	1	2.1		8	262	332	1.8	15	188	366
CM08-29	61462	490.21	490.69	0.48	>100		890	>10000	>10000	>100	615	>10000	>10000	152		2.07	11.65	147		2.02	11.1
CM08-29	61463	490.69	491.53	0.84	3.1		10	452	881	2.6	14	409	695
CM08-29	61464	BLANK		0	0.6		4	55	110	0.7	12	71	124
CM08-29	61465	491.53	491.93	0.4	17.9		1140	1180	5650	14.2	744	1105	5680
CM08-29	61466	491.93	492.69	0.76	12.8		582	531	708	11.1	494	515	662
CM08-29	61467	492.69	493.82	1.13	23.6		1130	578	3560	19.2	758	532	3230

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 117

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-29	61468	493.82	494.36	0.54	13.2		557	467	1950	11.3	440	440	1575
CM08-29	61469	494.36	495.32	0.96	1.1		53	112	392	1.4	47	112	330
CM08-29	61470	495.32	496.00	0.68	3.2		91	138	2300	3	74	140	1610
CM08-29	61471	496.00	496.44	0.44	8.4		365	300	1210	7	285	309	902
CM08-29	61472	496.44	496.90	0.46	22.1		447	914	2280	19.4	382	900	2290
CM08-29	61473	496.90	498.13	1.23	12.3		117	2080	6100	11	86	1705	5990
CM08-29	61474	BLANK		0	0.8		82	59	1100	1.7	72	72	979
CM08-29	61475	498.13	498.59	0.46	>100		573	>10000	>10000	>100	529	>10000	>10000	277		6.29	7.94	269		6.4	8.21
CM08-29	61476	498.59	498.79	0.2	7.6		27	1405	1030	5.5	26	1170	897
CM08-29	61477	498.79	499.60	0.81	>100		733	>10000	>10000	>100	659	>10000	>10000	121		1.86	4.18	112		1.82	3.96
CM08-29	61478	499.60	499.87	0.27	44.9		119	6920	>10000	34.8	124	7150	>10000				3.01				3.05
CM08-29	61479	499.87	500.54	0.67	1.1		4	166	201	1.5	12	168	192
CM08-29	61480	500.54	502.49	1.95	64.4		1770	3110	>10000	61.2	1650	3110	>10000				1.19				1.15
CM08-29	61481	502.49	503.52	1.03	13		74	1230	>10000	9.6	71	1055	>10000				1.2				1.15
CM08-29	61482	503.52	504.49	0.97	1.2		25	52	2150	1.2	31	63	1990
CM08-29	61483	504.49	505.70	1.21	1.5		31	115	609	1.3	38	108	545
CM08-29	61484	505.70	506.03	0.33	>100		434	>10000	>10000	>100	434	>10000	>10000	302		6.29	14.6	271		6.07	13.5
CM08-29	61485	506.03	506.95	0.92	5.9		40	442	2440	5.9	48	389	2240
CM08-29	61486	506.95	507.98	1.03	14.7		127	519	>10000	10.5	114	386	>10000				1.19				1.14
CM08-29	61487	DUPLICATE		0	55.8		158	10000	>10000	39.4	138	8460	>10000			0.87	2.53				2.41
CM08-29	61488	507.98	509.06	1.08	0.5		8	72	265	0.5	13	83	248
CM08-29	61489	509.06	510.10	1.04	2.8		7	85	602	1.8	15	87	599
CM08-29	61490	510.10	511.12	1.02	8.8		32	1460	3600	6.2	35	1245	3380
CM08-29	61491	511.12	512.06	0.94	1		28	78	1300	0.8	39	72	1230
CM08-29	61492	512.06	512.51	0.45	45.8		191	1560	>10000	35.5	170	1570	>10000				4.04				3.93
CM08-29	61493	512.51	513.27	0.76	2.4		26	102	3360	2	29	104	3670
CM08-29	61494	BLANK		0	5.2		46	264	4220	4.7	48	259	4370
CM08-29	61495	513.27	513.47	0.2	<0.2		1	135	286	0.5	9	165	277

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 118

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-29	61496	513.47	514.42	0.95	11.1		130	444	>10000	9.4	116	434	>10000				1.4				1.31
CM08-29	61497	514.42	515.28	0.86	1.1		11	177	1640	1.1	16	139	1525
CM08-29	61498	515.28	515.55	0.27	>100		419	6140	>10000	>100	367	5910	>10000	107			12.95	111			13.15
CM08-29	61499	515.55	515.80	0.25	15.8		98	1340	>10000	13.4	88	1150	>10000				2.08				2.02
CM08-29	61500	515.80	516.38	0.58	83.2		612	2340	>10000	71.8	582	2150	>10000				3.44				3.39
CM08-29	99501	516.38	517.61	1.23	73.2		571	2780	>10000	61.9	538	2720	>10000				2.94				2.83
CM08-29	99502	517.61	518.24	0.63	0.4		5	14	153	<0.5	7	9	137
CM08-29	99503	518.24	518.53	0.29	>100		1145	8440	>10000	>100	1065	7440	>10000	229			3.55	226			3.37
CM08-29	99504	518.53	519.43	0.9	60.8		308	5680	6870	54.1	259	5290	7700
CM08-29	99505	519.43	521.36	1.93	100		630	4370	>10000	85.8	569	4240	>10000	91			1.6				1.51
CM08-29	99506	521.36	521.97	0.61	31.4		254	1845	>10000	27.1	249	1605	>10000				1.66				1.7
CM08-29	99507	521.97	522.22	0.25	>100		581	>10000	>10000	>100	536	>10000	>10000	323		9.32	7.38	299		8.63	7.37
CM08-29	99508	522.22	522.94	0.72	2.6		10	358	611	2.2	18	338	548
CM08-29	99509	522.94	523.75	0.81	31.5		102	4920	6940	23.3	100	4280	6300
CM08-29	99510	523.75	524.33	0.58	>100		447	>10000	>10000	>100	379	9650	>10000	127		1.04	11.55	117			11.3
CM08-29	99511	524.33	525.31	0.98	3.2		13	663	1920	2.5	22	539	1890
CM08-29	99512	DUPLICATE		0	6.6		23	645	5090	5.2	28	603	5160
CM08-29	99513	525.31	526.29	0.98	0.6		3	51	368	<0.5	10	62	380
CM08-29	99514	BLANK		0	0.8		45	30	1590	0.8	49	33	1560
CM08-29	99515	526.29	527.17	0.88	3.5		13	803	1060	2.9	19	791	1015
CM08-29	99516	527.17	528.23	1.06	1.4		12	182	533	1.4	17	205	488
CM08-29	99517	528.23	529.25	1.02	0.5		2	42	96	0.5	10	66	106
CM08-29	99518	529.25	530.08	0.83	1.5		14	47	2120	1.9	20	58	2020
CM08-29	99519	530.08	531.00	0.92	3.8		35	731	1930	3.3	45	697	2320
CM08-29	99520	531.00	532.05	1.05	3.4		26	350	2480	3.3	28	298	2430
CM08-29	99521	532.05	533.00	0.95	0.3		2	37	325	0.6	10	54	253
CM08-29	99522	533.00	533.33	0.33	0.3		1	15	46	<0.5	9	23	57
CM08-29	99523	533.33	533.57	0.24	53		33	>10000	3170	50.2	40	>10000	3670			1.33				1.11

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 119

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-29	99524	533.57	533.81	0.24	37		118	>10000	>10000	35.7	112	>10000	>10000			1.13	2.19			1.12	2.11
CM08-29	99525	533.81	534.59	0.78	0.2		1	28	94	<0.5	9	40	110
CM08-29	99526	534.59	534.79	0.2	0.6		3	60	260	0.7	11	73	286
CM08-29	99527	534.79	535.30	0.51	0.5		3	114	87	<0.5	9	97	71
CM08-29	99528	535.30	536.30	1	0.5		2	31	59	<0.5	11	37	84
CM08-29	99529	536.30	536.93	0.63	0.6		3	72	162	0.6	9	57	110
CM08-29	99530	536.93	537.13	0.2	>100		568	>10000	>10000	>100	496	>10000	>10000	153		1.9	9.38	122		1.88	9.42
CM08-29	99531	537.13	538.14	1.01	1.4		9	318	235	1.4	15	283	333
CM08-29	99532	538.14	539.15	1.01	2.4		8	329	1260	1.9	14	269	932
CM08-29	99533	539.15	540.19	1.04	1.3		13	125	857	0.8	15	86	650
CM08-29	99534	BLANK		0	0.7		47	45	316	0.9	42	54	239
CM08-29	99535	540.19	541.19	1	2		22	482	1055	1.6	24	368	769
CM08-29	99536	541.19	542.43	1.24	<0.2		3	134	267	0.6	10	113	180
CM08-29	99537	DUPLICATE		0	<0.2		2	89	189	<0.5	8	91	133
CM08-29	99538	542.43	542.83	0.4	27.4		122	6100	>10000	22.4	112	5420	>10000				1.2				1.15
CM08-29	99539	542.83	543.63	0.8	4.7		7	1250	332	4.5	13	1080	277
CM08-29	99540	543.63	544.63	1	2.6		6	309	518	12.8	8	582	345
CM08-29	99541	544.63	544.91	0.28	>100		981	8520	>10000	>100	817	7970	>10000	238			7.44	226			7.18
CM08-29	99542	544.91	545.91	1	1.3		26	207	350	1.2	7	181	248
CM08-29	99543	545.91	546.51	0.6	<0.2		1	16	63	0.6	9	24	47
CM08-29	99544	546.51	547.13	0.62	<0.2		1	17	56	<0.5	8	25	54
CM08-29	99545	547.13	547.43	0.3	1.7		19	1480	1760	1.7	21	1180	1445
CM08-29	99546	547.43	548.84	1.41	<0.2		2	39	69	0.7	11	42	55
CM08-29	99547	548.84	549.80	0.96	<0.2		1	57	78	<0.5	9	62	63
CM08-29	99548	549.80	550.80	1	0.4		4	62	95	0.6	10	71	78
CM08-29	99549	550.80	551.97	1.17	<0.2		1	22	36	<0.5	9	31	33
CM08-29	99550	551.97	552.58	0.61	0.6		4	206	423	0.9	11	151	314
CM08-29	99551	552.58	553.24	0.66	<0.2		5	48	547	<0.5	6	38	444
CM08-29	99552	553.24	554.27	1.03	0.3		1	172	108	<0.5	4	130	60
CM08-29	99553	554.27	554.72	0.45	<0.2		4	200	74	<0.5	2	167	57

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 120

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-29	99554	BLANK		0	<0.2		26	12	82	<0.5	26	9	68
CM08-29	99555	554.72	555.69	0.97	7.5		70	489	5360	5.4	53	390	4210
CM08-29	99556	561.18	562.08	0.9	<0.2		2	24	94	<0.5	2	15	85
CM08-29	99557	562.08	562.25	0.17	>100		277	>10000	>10000	>100	276	>10000	>10000	201		4.1	4.2	187		4.43	3.83
CM08-29	99558	562.25	563.27	1.02	0.5		2	76	111	<0.5	3	79	97
CM08-29	99559	DUPLICATE		0	<0.2		3	74	103	<0.5	2	42	82
CM08-29	99560	563.27	564.12	0.85	<0.2		3	110	76	<0.5	3	106	71
CM08-29	99561	564.12	564.39	0.27	>100		593	>10000	>10000	>100	494	>10000	>10000	456		11.65	8.89	432		11.55	8.53
CM08-29	99562	564.39	565.42	1.03	3.1		10	373	705	3.4	10	486	709
CM08-29	99563	565.42	566.76	1.34	<0.2		2	106	132	<0.5	2	57	91
CM08-29	99564	566.76	567.76	1	1.3		4	424	221	1.8	4	356	183
CM08-29	99565	567.76	568.76	1	<0.2		3	111	167	<0.5	3	111	134
CM08-29	99566	568.76	569.66	0.9	0.3		3	181	207	0.7	4	207	188
CM08-29	99567	569.66	570.16	0.5	<0.2		4	74	417	<0.5	3	63	327
CM08-29	99568	570.16	570.50	0.34	22.2		151	2540	>10000	15.8	144	2210	>10000				3.37				3.14
CM08-29	99569	570.50	571.03	0.53	5		14	758	2140	3.5	11	614	1710
CM08-29	99570	571.03	572.03	1	4.7		25	1460	1370	4.1	20	1220	1120
CM08-29	99571	572.03	572.89	0.86	3.1		8	573	203	2.8	8	572	260
CM08-29	99572	572.89	573.86	0.97	17.6		167	1730	8930	14.1	139	1515	8370
CM08-29	99573	573.86	574.09	0.23	>100		745	>10000	>10000	>100	596	>10000	>10000	217		5.11	8.19	209		5	8.54
CM08-29	99574	BLANK		0	0.7		18	78	148	0.7	24	147	176
CM08-29	99575	574.09	575.13	1.04	<0.2		3	100	146	<0.5	3	62	91
CM08-29	99576	575.13	575.77	0.64	12.6		19	3110	1460	14.8	19	2850	1220
CM08-29	99577	555.97	556.42	0.45	<0.2		2	61	98	<0.5	<2	40	78
CM08-29	99578	556.42	556.98	0.56	<0.2		2	57	153	<0.5	2	44	135
CM08-29	99579	556.98	557.78	0.8	<0.2		3	45	103	<0.5	3	38	102
CM08-29	99580	557.78	558.78	1	2.7		3	599	121	2.2	3	439	108
CM08-29	99581	558.78	559.58	0.8	23.5		14	3990	1210	15.7	12	3660	966
CM08-29	99582	559.58	560.42	0.84	0.2		5	109	212	<0.5	4	102	202
CM08-29	99583	560.42	561.20	0.78	<0.2		2	27	59	<0.5	<2	50	95

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 121

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-30	99073	299.80	300.82	1.02	0.7		16	53	82	0.7	21	55	97
CM08-30	99074	300.82	301.13	0.31	0.3		13	41	108	<0.5	17	44	103
CM08-30	99075	301.13	302.13	1	0.7		20	48	177	0.5	26	50	156
CM08-30	99076	339.83	340.53	0.7	1.3		25	318	1630	1.3	34	358	1860
CM08-30	99077	340.53	341.28	0.75	1.3		10	184	408	1.2	13	179	330
CM08-30	99078	341.28	341.68	0.4	5.4		38	1765	1880	4.5	45	1755	1880
CM08-30	99079	341.68	342.68	1	0.8		7	81	167	0.7	11	88	151
CM08-30	99080	334.78	335.75	0.97	0.3		21	33	122	<0.5	24	39	112
CM08-30	99081	335.75	336.45	0.7	0.6		40	118	663	0.6	42	117	595
CM08-30	99082	336.45	337.00	0.55	0.5		16	35	88	<0.5	21	43	93
CM08-30	99083	337.00	337.83	0.83	0.5		15	34	108	<0.5	24	42	105
CM08-30	99084	403.65	404.65	1	<0.2		10	12	75	<0.5	18	14	72
CM08-30	99085	404.65	405.38	0.73	0.2		12	14	79	<0.5	21	16	78
CM08-30	99086	405.38	406.38	1	<0.2		10	9	74	<0.5	19	14	76
CM08-30	99087	406.38	407.30	0.92	<0.2		9	13	76	<0.5	19	15	75
CM08-30	99090	625.84	626.84	1	<0.2		3	14	15	<0.5	<2	23	18
CM08-30	99091	626.84	627.92	1.08	<0.2		2	6	7	<0.5	<2	21	10
CM08-30	99092	627.92	628.28	0.36	3.2		1830	52	68	2.8	1430	55	72
CM08-30	99093	BLANK		0	<0.2		23	7	34	<0.5	9	16	24
CM08-30	99094	628.28	629.28	1	0.6		245	42	50	<0.5	202	46	50
CM08-30	99095	629.28	630.28	1	<0.2		3	29	33	<0.5	<2	38	34
CM08-30	99096	635.67	636.67	1	<0.2		5	16	22	<0.5	<2	32	33
CM08-30	99097	636.67	636.81	0.14	7.8		125	318	8510	6.1	98	286	8540
CM08-30	99098	636.81	637.81	1	0.2		5	45	106	<0.5	<2	48	80
CM08-30	99099	338.83	339.83	1	1.2		16	240	512	1.1	14	245	479
CM08-30	99099	784.09	784.79	0.7	0.4		4	33	49	<0.5	8	35	49
CM08-30	99100	784.79	785.46	0.67	0.9		8	62	207	1.1	15	63	167
CM08-30	99101	785.46	786.31	0.85	0.4		5	18	56	<0.5	8	19	52
CM08-30	99102	786.31	787.34	1.03	0.3		3	12	33	<0.5	7	17	29
CM08-30	99103	793.37	794.49	1.12	0.4		4	65	64	<0.5	7	67	57
CM08-30	99104	794.49	795.58	1.09	0.2		1	7	18	<0.5	7	12	17
CM08-30	99105	795.58	796.61	1.03	0.5		3	66	99	<0.5	8	65	90

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 122

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-30	99106	796.61	797.34	0.73	27.4		430	242	120	23.8	355	230	129
CM08-30	99107	797.34	798.75	1.41	0.4		12	55	71	<0.5	14	54	63
CM08-30	99108	798.75	800.10	1.35	0.4		2	50	66	<0.5	7	51	58
CM08-30	99109	800.10	800.72	0.62	0.3		3	26	34	<0.5	8	28	38
CM08-30	99110	800.72	802.09	1.37	0.3		2	27	57	0.7	7	29	55
CM08-30	99111	809.26	810.26	1	<0.2		1	5	21	0.6	8	14	39
CM08-30	99112	STANDARD			52.9		>10000	2940	>10000	42.3	>10000	2750	>10000		2.23		3.2		2.17		2.93
CM08-30	99113	810.26	810.59	0.33	<0.2		22	40	131	<0.5	14	33	121
CM08-30	99114	810.59	811.59	1	<0.2		7	20	43	<0.5	8	19	50
CM08-31	99088	337.83	338.83	1	1.8		23	99	267	1.6	24	101	242
CM08-31	99584	22.30	23.30	1	0.5		2	13	128	0.6	11	18	111
CM08-31	99585	23.30	23.80	0.5	2.6		146	1040	797	2.9	133	1045	726
CM08-31	99586	23.80	24.38	0.58	2.8		393	2470	2270	6.5	363	2690	1860
CM08-31	99587	24.38	25.00	0.62	0.7		871	2730	2610	1.1	844	3310	3090
CM08-31	99588	25.00	25.76	0.76	1.6		6	32	143	2.3	13	35	127
CM08-31	99589	25.76	26.51	0.75	2.6		146	252	1305	1.9	133	250	1195
CM08-31	99590	26.51	27.43	0.92	0.9		1640	2860	5050	1.1	1495	3250	5460
CM08-31	99591	27.43	28.23	0.8	2		43	84	1125	1.2	44	84	602
CM08-31	99592	180.03	181.03	1	0.8		3	146	143	<0.5	11	154	125
CM08-31	99593	181.03	182.03	1	0.4		9	76	64	<0.5	15	77	51
CM08-31	99594	182.03	183.03	1	<0.2		<1	15	10	<0.5	8	20	7
CM08-31	99595	183.03	183.99	0.96	0.9		3	263	82	<0.5	11	264	71
CM08-31	99596	183.99	184.99	1	9.9		75	4680	504	7.9	71	4700	447
CM08-31	99597	184.99	185.99	1	4.3		42	862	240	3.2	60	851	198
CM08-31	99598	185.99	187.01	1.02	2.9		21	734	448	1.9	30	707	432
CM08-31	99599	187.01	188.01	1	4.7		84	2350	521	3.5	77	2390	464
CM08-31	99600	188.01	189.01	1	3.2		13	314	253	2.1	18	278	197
CM08-31	99601	189.01	190.04	1.03	0.3		<1	19	85	<0.5	7	21	73
CM08-31	99602	190.04	191.04	1	0.7		2	274	155	0.5	10	256	131
CM08-31	99603	BLANK		0	<0.2		19	11	126	<0.5	24	11	105
CM08-31	99604	191.04	192.04	1	0.3		<1	19	33	<0.5	8	21	27
CM08-31	99605	192.04	193.04	1	0.9		22	2630	657	<0.5	27	2600	568

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 123

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-31	99606	213.10	214.03	0.93	0.9		141	22	41	0.5	113	25	35
CM08-31	99607	214.03	214.98	0.95	0.2		1	15	29	<0.5	9	22	25
CM08-31	99608	214.98	215.79	0.81	<0.2		<1	12	13	<0.5	8	16	10
CM08-31	99609	215.79	216.50	0.71	0.2		<1	12	9	<0.5	7	13	7
CM08-31	99610	216.50	217.50	1	<0.2		<1	10	9	<0.5	8	12	7
CM08-31	99611	217.50	218.43	0.93	<0.2		1	15	5	<0.5	8	11	<5
CM08-31	99612	229.46	230.91	1.45	<0.2		<1	26	28	<0.5	9	27	22
CM08-31	99613	DUPLICATE		0	<0.2		3	17	25	<0.5	11	19	19
CM08-31	99614	230.91	232.41	1.5	1.7		13	167	577	1.2	19	162	498
CM08-31	99615	232.41	234.26	1.85	<0.2		<1	8	11	<0.5	8	10	9
CM08-31	99616	234.26	234.50	0.24	<0.2		1	7	13	<0.5	8	12	11
CM08-31	99617	234.50	235.75	1.25	0.2		<1	19	17	<0.5	8	24	13
CM08-31	99618	235.75	237.34	1.59	<0.2		<1	7	11	<0.5	8	12	10
CM08-31	99619	237.34	238.84	1.5	<0.2		8	15	22	<0.5	14	15	20
CM08-31	99620	238.84	240.14	1.3	<0.2		2	6	20	<0.5	8	7	13
CM08-31	99621	240.14	241.64	1.5	<0.2		<1	8	12	<0.5	7	5	10
CM08-31	99622	241.64	243.24	1.6	<0.2		2	32	11	<0.5	10	34	11
CM08-31	99623	STANDARD		0	>100		146	3930	2510	>100	158	4240	2740	148				173
CM08-31	99624	BLANK		0	0.4		22	12	150	<0.5	29	11	140
CM08-31	99625	243.34	244.69	1.35	<0.2		<1	4	3	<0.5	8	<5	<5
CM08-31	99626	244.69	245.85	1.16	<0.2		<1	4	10	<0.5	9	5	8
CM08-31	99627	245.85	246.25	0.4	<0.2		<1	8	6	<0.5	8	5	<5
CM08-31	99628	246.25	247.20	0.95	0.2		<1	8	10	<0.5	9	6	10
CM08-31	99629	DUPLICATE		0	<0.2		<1	6	5	<0.5	8	5	5
CM08-31	99630	250.79	251.79	1	<0.2		<1	8	12	<0.5	8	7	12
CM08-31	99631	251.79	252.79	1	<0.2		1	7	14	<0.5	11	7	17
CM08-31	99632	252.79	253.79	1	<0.2		3	14	10	<0.5	15	13	12
CM08-31	99633	289.35	290.11	0.76	<0.2		10	8	65	<0.5	17	9	53
CM08-31	99634	290.11	290.36	0.25	1.4		7	34	43	1.1	8	32	30
CM08-31	99635	290.36	291.36	1	<0.2		1	27	19	<0.5	2	30	17
CM08-31	99636	253.79	255.39	1.6	<0.2		4	7	9	<0.5	7	12	11
CM08-31	99637	255.39	255.84	0.45	<0.2		1	8	12	<0.5	3	14	13

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 124

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-31	99638	255.84	256.84	1	<0.2		2	2	13	<0.5	4	11	14
CM08-31	99639	270.31	271.31	1	<0.2		1	12	100	<0.5	3	17	83
CM08-31	99640	271.31	272.01	0.7	<0.2		1	19	14	<0.5	3	25	13
CM08-31	99641	272.01	273.01	1	<0.2		<1	8	7	<0.5	3	12	8
CM08-31	99642	286.39	287.39	1	<0.2		1	2	22	<0.5	2	12	20
CM08-31	99643	287.39	287.60	0.21	<0.2		20	20	77	<0.5	3	24	64
CM08-31	99644	BLANK		0	<0.2		20	3	33	<0.5	19	13	37
CM08-31	99645	287.60	289.35	1.75	<0.2		1	5	37	<0.5	3	13	32
CM08-31	99646	308.63	309.63	1	<0.2		1	11	14	<0.5	3	18	17
CM08-31	99647	309.63	310.73	1.1	<0.2		1	9	9	<0.5	2	19	12
CM08-31	99648	310.73	311.73	1	<0.2		1	10	15	<0.5	3	19	21
CM08-31	99649	318.03	319.03	1	<0.2		<1	14	14	<0.5	2	22	15
CM08-31	99650	DUPLICATE		0	<0.2		1	23	14	<0.5	2	29	13
CM08-31	99651	319.03	319.28	0.25	<0.2		1	46	28	0.6	3	50	28
CM08-31	99652	319.28	320.28	1	<0.2		2	5	19	<0.5	2	13	12
CM08-31	99653	327.82	328.82	1	<0.2		1	4	8	<0.5	2	12	10
CM08-31	99654	328.82	329.02	0.2	<0.2		<1	21	21	<0.5	2	30	24
CM08-31	99655	329.02	330.02	1	<0.2		<1	11	22	<0.5	2	18	17
CM08-31	99656	367.83	369.33	1.5	<0.2		2	100	141	0.5	3	99	118
CM08-31	99657	369.33	370.06	0.73	<0.2		2	19	42	0.5	4	26	41
CM08-31	99658	370.06	371.06	1	<0.2		1	4	8	<0.5	3	15	6
CM08-31	99659	377.80	379.35	1.55	<0.2		1	<2	<2	<0.5	2	10	<5
CM08-31	99660	379.35	380.50	1.15	<0.2		1	2	<2	<0.5	4	9	<5
CM08-31	99661	380.50	381.50	1	<0.2		24	6	70	<0.5	5	10	15
CM08-31	99662	386.83	387.83	1	>100		155	4090	2510	>100	148	3860	2510	170				161
CM08-31	99663	BLANK		0	<0.2		3	9	34	<0.5	3	14	15
CM08-31	99664	387.83	388.63	0.8	<0.2		3	16	43	<0.5	3	20	35
CM08-31	99665	388.63	389.63	1	<0.2		2	12	24	<0.5	2	15	20
CM08-31	99666	408.17	409.17	1	<0.2		2	5	70	<0.5	3	11	61
CM08-31	99667	409.17	410.00	0.83	<0.2		10	359	344	<0.5	10	323	318
CM08-31	99668	410.00	411.00	1	<0.2		5	5	9	<0.5	5	14	7
CM08-31	99669	453.10	454.10	1	<0.2		12	11	45	0.6	18	24	46

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 125

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-31	99670	DUPLICATE		0	0.2		7	24	37	1.3	12	36	44
CM08-31	99671	BLANK		0	0.6		27	8	148	0.7	31	15	157
CM08-31	99672	454.10	454.50	0.4	<0.2		2	14	20	<0.5	8	26	54
CM08-31	99673	454.50	455.50	1	<0.2		3	9	25	<0.5	9	18	28
CM08-31	99674	476.33	477.33	1	<0.2		2	7	26	<0.5	7	19	31
CM08-31	99675	477.33	477.83	0.5	<0.2		2	6	57	<0.5	7	12	59
CM08-31	99676	477.83	478.83	1	<0.2		2	6	38	<0.5	8	12	39
CM08-31	99677	495.34	496.34	1	<0.2		2	4	17	<0.5	6	13	21
CM08-31	99678	496.34	496.89	0.55	<0.2		1	3	32	<0.5	7	23	45
CM08-31	99679	496.89	497.16	0.27	0.3		2	4	106	0.5	7	19	114
CM08-31	99680	497.16	497.96	0.8	1		6	192	165	1	39	202	158
CM08-31	99681	497.96	498.96	1	<0.2		5	364	278	<0.5	29	366	263
CM08-31	99682	498.96	499.96	1	<0.2		1	30	26	<0.5	23	40	30
CM08-31	99683	513.16	514.16	1	<0.2		1	12	17	<0.5	15	22	22
CM08-31	99684	514.16	514.46	0.3	<0.2		1	6	20	<0.5	8	12	24
CM08-31	99685	514.46	515.46	1	<0.2		1	6	26	<0.5	7	15	28
CM08-32	99686	173.32	174.32	1	0.4		37	91	344	<0.5	39	86	319
CM08-32	99687	174.32	175.32	1	6.5		115	1050	863	6	115	987	821
CM08-32	99688	175.32	175.82	0.5	1.6		83	240	538	1.4	87	240	538
CM08-32	99689	175.82	176.82	1	1.1		59	293	405	0.8	59	246	374
CM08-32	99690	186.48	187.58	1.1	0.4		17	88	1120	<0.5	23	105	1260
CM08-32	99691	DUPLICATE		0	0.3		20	96	484	<0.5	25	120	470
CM08-32	99692	187.58	187.98	0.4	1		46	217	474	<0.5	42	225	347
CM08-32	99693	187.98	188.98	1	0.3		36	25	35	<0.5	40	30	52
CM08-32	99694	226.05	227.05	1	0.2		28	8	33	<0.5	33	13	45
CM08-32	99695	227.05	227.40	0.35	1.2		68	221	655	1	63	211	600
CM08-32	99696	BLANK		0	0.9		32	8	548	<0.5	31	17	465
CM08-32	99697	227.40	228.40	1	0.3		16	83	157	<0.5	19	89	157
CM08-32	99698	239.80	240.80	1	<0.2		32	6	42	<0.5	33	15	48
CM08-32	99699	240.80	241.10	0.3	0.3		97	23	50	<0.5	90	28	54
CM08-32	99700	241.10	242.10	1	<0.2		43	14	51	<0.5	43	18	56
CM08-32	99701	256.95	257.95	1	0.4		27	16	61	<0.5	25	20	57

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 126

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-32	99702	257.95	258.85	0.9	0.3		10	11	45	<0.5	12	14	44
CM08-32	99703	STANDARD		0	>100		153	3940	2510	>100	152	3930	2430	170				171
CM08-32	99704	258.85	259.85	1	0.4		26	15	73	<0.5	23	14	67
CM08-32	99705	259.85	261.13	1.28	0.3		6	11	52	<0.5	5	13	50
CM08-32	99706	261.13	262.13	1	<0.2		6	7	14	<0.5	5	11	24
CM08-32	99707	262.13	262.98	0.85	0.2		22	13	26	<0.5	21	18	34
CM08-32	99708	262.98	263.98	1	0.4		38	32	36	<0.5	40	35	45
CM08-32	99709	263.98	265.38	1.4	0.7		68	89	101	0.5	57	89	96
CM08-32	99710	265.38	266.94	1.56	0.9		125	50	189	<0.5	113	49	175
CM08-32	99711	DUPLICATE		0	0.7		93	57	212	0.5	92	64	198
CM08-32	99712	266.94	267.89	0.95	1.1		87	303	632	1	80	279	538
CM08-32	99713	267.89	268.10	0.21	2.1		398	48	33	1.6	322	41	34
CM08-32	99714	268.10	269.90	1.8	0.5		50	39	174	<0.5	43	50	156
CM08-32	99715	269.90	270.75	0.85	1.1		264	36	16	1.2	231	40	21
CM08-32	99716	270.75	272.15	1.4	0.5		72	37	94	0.6	67	39	94
CM08-32	99717	272.15	272.90	0.75	0.5		61	53	127	<0.5	52	53	112
CM08-32	99718	272.90	273.35	0.45	0.7		37	122	949	0.6	32	119	836
CM08-32	99719	273.35	274.80	1.45	0.5		45	30	51	<0.5	40	33	52
CM08-32	99720	274.80	276.60	1.8	0.2		24	19	51	<0.5	22	22	54
CM08-32	99721	BLANK		0	0.2		13	5	71	0.6	9	18	61
CM08-32	99722	276.60	277.45	0.85	0.8		21	56	135	1.6	21	57	127
CM08-32	99723	277.45	278.15	0.7	40.6		51	>10000	3560	40.3	50	>10000	3370			1.23				1.22
CM08-32	99724	278.15	279.15	1	0.8		9	194	162	0.9	7	201	153
CM08-32	99725	287.45	288.45	1	<0.2		24	30	47	<0.5	22	39	52
CM08-32	99726	288.45	289.25	0.8	0.2		25	23	36	<0.5	23	29	44
CM08-32	99727	289.25	290.25	1	<0.2		12	5	38	<0.5	12	9	38
CM08-32	99728	304.13	305.13	1	1.8		22	189	368	1.4	13	197	354
CM08-32	99729	305.13	305.91	0.78	28.1		67	4620	5200	26.5	59	4680	5370
CM08-32	99730	305.91	307.11	1.2	3.5		41	644	769	3.9	35	615	704
CM08-32	99731	307.11	308.41	1.3	0.9		16	146	1085	0.6	12	147	1105
CM08-32	99732	DUPLICATE		0	0.8		25	168	401	0.9	19	171	370
CM08-32	99733	308.41	309.21	0.8	0.3		24	30	51	0.6	20	42	60

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 127

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-32	99734	309.21	310.21	1	0.2		17	6	70	<0.5	10	12	81
CM08-32	99735	310.21	311.31	1.1	1.5		21	125	170	1.5	18	124	172
CM08-32	99736	311.31	311.73	0.42	4.6		15	474	1780	4.4	9	469	1765
CM08-32	99737	311.73	312.73	1	0.3		24	8	44	0.7	19	13	50
CM08-32	99738	372.08	373.08	1	<0.2		25	3	29	<0.5	20	10	40
CM08-32	99739	373.08	373.53	0.45	0.7		110	9	49	0.5	95	14	46
CM08-32	99740	373.53	374.43	0.9	<0.2		3	2	28	<0.5	<2	10	34
CM08-32	99741	374.43	375.33	0.9	<0.2		13	9	32	<0.5	7	12	33
CM08-32	99742	375.33	376.20	0.87	0.3		22	36	78	0.5	16	38	78
CM08-32	99743	STANDARD		0	45.2		>10000	2660	>10000	39.8	>10000	2580	>10000		2.19		3.05		2.09		2.95
CM08-32	99744	376.20	376.45	0.25	1.5		190	100	230	1.5	151	96	206
CM08-32	99745	376.45	377.45	1	<0.2		26	17	40	<0.5	10	18	24
CM08-32	99746	BLANK		0	<0.2		30	8	63	0.7	16	18	56
CM08-32	99747	394.20	395.20	1	0.4		14	6	17	0.7	6	11	19
CM08-32	99748	395.20	396.00	0.8	1.1		9	108	133	1	3	108	121
CM08-32	99749	396.00	397.40	1.4	<0.2		10	8	17	0.5	4	11	21
CM08-32	99750	397.40	398.85	1.45	<0.2		6	16	27	<0.5	8	16	34
CM08-32	99751	DUPLICATE		0	0.6		17	69	104	0.5	18	89	107
CM08-32	99752	398.85	399.90	1.05	0.3		14	49	258	<0.5	13	50	255
CM08-32	99753	399.90	400.20	0.3	0.8		27	89	64	0.6	24	88	65
CM08-32	99754	400.20	401.20	1	1.2		63	159	372	0.9	59	179	368
CM08-32	99755	401.20	402.30	1.1	0.6		31	53	171	0.8	28	65	174
CM08-32	99756	402.30	403.75	1.45	6		24	685	986	5.4	23	698	935
CM08-32	99757	403.75	404.75	1	0.8		9	106	198	0.7	11	114	199
CM08-32	99758	413.53	414.53	1	0.3		8	58	358	<0.5	9	64	341
CM08-32	99759	414.53	416.03	1.5	<0.2		5	38	42	<0.5	6	40	44
CM08-32	99760	416.03	417.58	1.55	0.3		11	103	266	<0.5	12	114	283
CM08-32	99761	417.58	418.58	1	0.4		20	47	165	<0.5	21	53	177
CM08-32	99762	418.58	419.58	1	0.6		66	26	242	<0.5	73	33	259
CM08-32	99763	439.50	441.00	1.5	1.6		24	204	205	1	22	209	200
CM08-32	99764	441.00	442.00	1	0.9		35	73	125	0.7	31	80	100
CM08-32	99765	442.00	442.60	0.6	1.4		33	102	559	1.2	34	112	483

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 128

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-32	99766	442.60	444.00	1.4	5		42	674	1310	4.1	42	659	1245
CM08-32	99767	444.00	445.40	1.4	1.3		23	96	93	1.2	24	101	95
CM08-32	99768	445.40	446.40	1	0.7		19	49	172	0.5	20	52	153
CM08-32	99769	446.40	447.25	0.85	0.3		12	28	50	<0.5	14	30	54
CM08-32	99770	447.25	447.65	0.4	10.7		64	305	796	8.1	51	289	655
CM08-32	99771	447.65	448.65	1	0.3		10	17	72	<0.5	13	23	64
CM08-32	99772	DUPLICATE		0	0.2		9	16	150	<0.5	11	25	128
CM08-32	99773	BLANK		0	0.3		19	7	71	<0.5	19	15	59
CM08-32	99774	514.50	515.50	1	<0.2		3	3	6	<0.5	6	9	9
CM08-32	99775	515.50	516.45	0.95	2.9		831	45	22	2.1	659	45	29
CM08-32	99776	516.45	517.40	0.95	3.7		678	34	80	3	549	44	81
CM08-32	99777	517.40	518.40	1	0.4		28	20	84	<0.5	29	27	82
CM08-32	99778	544.04	545.04	1	1.4		92	99	146	1.1	85	100	132
CM08-32	99779	545.04	546.04	1	2.1		101	149	182	1.8	97	147	165
CM08-32	99780	546.04	547.34	1.3	35.1		153	5890	>10000	30.4	133	5320	>10000				1.2				1.2
CM08-32	99781	547.34	548.34	1	4.7		579	141	474	4.3	496	148	396
CM08-32	99782	549.47	550.47	1	17.3		48	876	1180	15.6	49	910	1320
CM08-32	99783	STANDARD		0	41.8		>10000	2380	>10000	40.7	>10000	2780	>10000		2.23		3.1		2.13		2.95
CM08-32	99784	550.47	551.72	1.25	1		21	86	195	0.8	11	83	185
CM08-32	99785	551.72	552.72	1	2.4		26	158	567	2.2	23	149	568
CM08-32	99786	552.72	553.72	1	6.4		65	1115	4050	5.7	58	1035	3880
CM08-32	99787	553.72	554.72	1	3.4		46	713	2450	3.3	39	725	2320
CM08-32	99788	554.72	555.72	1	3.3		145	123	145	2.9	123	119	128
CM08-32	99789	555.72	556.72	1	3.1		159	129	536	2.9	140	130	508
CM08-32	99790	556.72	557.72	1	1.3		37	83	244	1.2	32	92	227
CM08-32	99791	DUPLICATE		0	1.1		35	136	411	0.9	31	137	383
CM08-32	99792	557.72	558.72	1	3.1		52	300	628	2.7	49	322	634
CM08-32	99793	558.72	559.72	1	1		75	38	79	0.9	67	49	79
CM08-32	99794	559.72	560.72	1	4.8		115	205	736	4.3	100	211	671
CM08-32	99795	560.72	561.72	1	3.2		50	206	2660	2.7	45	202	2770
CM08-32	99796	561.72	562.72	1	2.4		34	110	305	2.3	32	107	268

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 129

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-32	99797	562.72	563.72	1	1.9		35	92	874	1.6	37	103	864
CM08-32	99798	BLANK		0	0.7		19	11	88	<0.5	18	17	85
CM08-32	99799	563.73	564.73	1	19.5		82	1740	>10000	17.1	82	1715	>10000				1.51				1.46
CM08-32	99800	564.73	565.73	1	2.1		39	112	1610	1.7	40	117	1565
CM08-32	99801	565.73	566.73	1	1.1		22	35	2050	0.8	26	42	2210
CM08-32	99802	566.73	567.73	1	1		5	40	1740	0.8	9	48	1905
CM08-32	99803	567.73	568.43	0.7	7.6		15	500	2880	7.4	17	466	3120
CM08-32	99804	568.43	569.03	0.6	96		413	9180	>10000	93.8	357	9640	>10000				1.48				1.43
CM08-32	99805	569.03	570.03	1	5		74	248	3220	4.4	74	246	3480
CM08-32	99806	570.03	571.03	1	0.7		41	40	228	0.6	42	51	216
CM08-32	99807	571.03	572.03	1	0.9		58	38	66	0.8	59	45	66
CM08-32	99808	572.03	573.03	1	0.6		47	49	255	0.6	50	66	264
CM08-32	99809	573.03	573.83	0.8	0.6		23	43	771	<0.5	29	52	737
CM08-32	99810	573.83	574.83	1	8.6		70	1285	6270	8.3	69	1235	7000
CM08-32	99811	574.83	575.83	1	0.2		22	44	382	<0.5	24	52	382
CM08-32	99812	575.83	576.83	1	<0.2		20	36	121	<0.5	23	45	130
CM08-32	99813	576.83	577.83	1	0.6		22	54	359	0.7	25	61	383
CM08-32	99814	577.83	578.83	1	<0.2		16	22	47	<0.5	19	30	57
CM08-32	99815	578.83	579.83	1	<0.2		15	18	26	<0.5	19	26	36
CM08-32	99816	DUPLICATE		0	<0.2		16	18	23	<0.5	19	27	35
CM08-32	99817	579.83	580.83	1	<0.2		16	21	170	<0.5	18	27	165
CM08-32	99818	BLANK		0	<0.2		20	9	66	<0.5	23	19	80
CM08-32	99819	580.83	582.33	1.5	0.4		25	27	59	<0.5	28	30	65
CM08-32	99820	582.33	583.83	1.5	2.6		57	49	115	1.7	61	60	118
CM08-32	99821	583.83	585.33	1.5	0.5		29	38	49	<0.5	32	36	52
CM08-32	99822	585.33	586.83	1.5	0.2		12	17	33	<0.5	26	18	35
CM08-32	99823	586.83	588.33	1.5	0.4		11	77	97	<0.5	16	73	101
CM08-32	99824	588.33	590.33	2	16		25	1905	3930	14.6	29	1770	4570
CM08-32	99825	590.33	591.03	0.7	>100		354	>10000	>10000	>100	327	>10000	>10000	504		7.87	4.35	523		7.66	4.09
CM08-32	99826	STANDARD		0	>100		145	3910	2360	>100	153	3940	2500	179				166

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 130

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																		GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-32	99827	591.03	591.74	0.71	67.6		86	9840	>10000	66.3	87	9900	>10000				2.42				2.38
CM08-32	99828	591.74	592.34	0.6	33.8		40	7470	8910	30.4	44	7320	9870
CM08-32	99829	592.34	592.76	0.42	>100		456	>10000	>10000	>100	440	>10000	>10000	545		7.05	13	545		6.84	11.8
CM08-32	99830	592.76	594.06	1.3	10.7		19	2310	6990	10.7	23	2280	7560
CM08-32	99831	594.06	594.36	0.3	50.8		72	>10000	>10000	46	74	>10000	>10000			1.14	1.33			1.1	1.3
CM08-32	99832	594.36	595.36	1	13.8		27	1795	3240	11.9	31	1910	3970
CM08-32	99833	595.36	596.16	0.8	16		54	1895	2540	14.7	61	1985	2980
CM08-32	99834	596.16	596.46	0.3	>100		248	>10000	>10000	>100	235	>10000	>10000	209		3.72	2.66	213		3.61	2.54
CM08-32	99835	596.46	597.96	1.5	16		75	1590	3840	13.6	76	1630	4480
CM08-32	99836	597.96	599.46	1.5	0.7		13	98	90	0.6	18	114	102
CM08-32	99837	599.46	600.46	1	0.3		16	32	30	<0.5	21	37	39
CM08-32	99838	BLANK		0	0.3		<1	21	23	<0.5	8	30	18
CM08-32	99839	600.46	601.42	0.96	1.4		18	128	304	0.9	22	139	297
CM08-32	99840	601.42	602.12	0.7	51.8		303	5800	>10000	48.1	273	5910	>10000				5.12				4.78
CM08-32	99841	602.12	603.12	1	11.9		48	3030	3720	11.4	53	3260	4440
CM08-32	99842	DUPLICATE		0	9.9		46	2390	2830	9.4	50	2520	3310
CM08-32	99843	603.12	603.95	0.83	1.2		16	92	659	0.5	21	101	712
CM08-32	99844	603.95	604.25	0.3	17.1		54	3450	5360	16.2	58	3590	6120
CM08-32	99845	604.25	605.25	1	1		20	116	564	<0.5	27	139	635
CM08-32	99846	619.88	620.88	1	10.8		27	1610	2890	10.2	30	1595	3550
CM08-32	99847	620.88	621.18	0.3	35.9		158	5760	>10000	36.6	163	6560	>10000				1.98				1.34
CM08-32	99848	621.18	621.79	0.61	0.5		16	49	107	<0.5	20	60	117
CM08-32	99849	621.79	622.94	1.15	5.3		23	510	1070	4.1	27	559	1190
CM08-32	99850	622.94	624.09	1.15	5.2		27	704	1460	3.9	29	723	1515
CM08-32	99851	624.09	624.54	0.45	41.1		51	9640	6260	36.6	53	9660	7470
CM08-32	99852	624.54	625.78	1.24	3.2		50	468	1170	2.8	51	480	1220
CM08-32	99853	625.78	626.88	1.1	1.5		19	179	329	1.5	24	184	326
CM08-32	99854	626.88	627.88	1	1		46	83	301	0.9	52	93	335
CM08-32	99855	627.88	629.70	1.82	7.8		130	169	498	5.9	129	166	524
CM08-32	99856	629.70	630.18	0.48	79.6		384	3540	2790	68.7	347	3340	3000

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 131

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

					Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)						Re-assay
Drill Hole No.	Sample No.	From	To	Interval (m)																				GRA21	CON02
					Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu		Pb		Zn	Ag	Pb
					ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%		%		%	ppm	%
CM08-32	99857	630.18	631.29	1.11	0.3		1	11	18	<0.5	7	23	24
CM08-32	99858	BLANK		0	3.1		34	1700	>10000	2.3	40	1655	>10000	LAB PROBLEM			1.3					1.33
CM08-32	99859	631.29	631.89	0.6	3.2		33	2010	>10000	2.4	39	1980	>10000				1.53					1.48
CM08-32	99860	631.89	632.59	0.7	2.3		25	1265	7900	1.8	26	1150	8090
CM08-32	99861	649.05	650.02	0.97	0.6		9	45	166	<0.5	12	48	171
CM08-32	99862	650.02	650.62	0.6	15		20	431	2180	12.7	26	471	2480
CM08-32	99863	650.62	651.22	0.6	0.6		12	207	2450	0.7	16	243	3020
CM08-32	99864	661.09	662.09	1	0.2		9	25	103	<0.5	13	31	108
CM08-32	99865	DUPLICATE		0	0.2		9	20	63	<0.5	15	14	67
CM08-32	99866	STANDARD		0	45.7		>10000	2670	>10000	41.2	>10000	2840	>10000		2.25		3.15			2.2		3.02
CM08-32	99867	662.09	662.43	0.34	1.1		23	53	2380	0.7	25	54	2700
CM08-32	99868	662.43	663.86	1.43	<0.2		6	7	22	<0.5	14	16	34
CM08-32	99869	663.86	665.36	1.5	0.7		14	32	195	<0.5	17	40	213
CM08-32	99870	665.36	666.91	1.55	1.2		25	46	191	0.5	28	57	193
CM08-32	99871	666.91	667.91	1	3.6		8	502	728	3.3	13	532	743
CM08-32	99872	667.91	668.86	0.95	2.8		12	283	414	2.4	16	288	425
CM08-32	99873	668.86	669.86	1	1.2		12	424	2160	0.6	16	415	2180
CM08-32	99874	669.86	670.79	0.93	0.4		10	51	311	<0.5	14	59	337
CM08-32	99875	670.79	671.79	1	1.5		33	69	395	1	41	76	410
CM08-32	99876	671.79	672.95	1.16	1.6		45	234	1260	1.1	46	225	1400
CM08-32	99877	672.95	673.95	1	0.5		15	62	304	<0.5	18	71	312
CM08-32	99878	BLANK		0	<0.2		<1	6	14	<0.5	7	16	15
CM08-32	99879	673.95	674.95	1	0.4		7	80	380	<0.5	11	83	359
CM08-32	99880	674.95	676.23	1.28	1.3		12	332	1090	0.8	15	330	1130
CM08-32	99881	676.23	677.23	1	0.9		5	157	184	0.5	10	167	199
CM08-32	99882	677.23	678.48	1.25	0.3		3	19	37	<0.5	7	26	26
CM08-32	99883	678.48	679.48	1	0.3		3	4	46	<0.5	7	21	35
CM08-32	99884	679.48	679.98	0.5	28.9		92	>10000	7760	19.8	74	7880	8310			0.92
CM08-32	99885	679.98	680.98	1	1.3		29	91	1350	0.7	32	87	1085
CM08-32	99886	680.98	682.18	1.2	1.2		169	204	249	0.7	134	174	195

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 132

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)					Re-assay of High Grade Samples (AA62)						Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																					GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn		Ag	Cu		Pb		Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%		ppm	%		%		%	ppm	%
CM08-32	99887	682.18	683.38		1.2	1.1		22	136	234	0.5	19	115	188
CM08-32	99888	683.38	684.38		1	0.3		5	19	33	<0.5	12	31	33
CM08-32	99889	DUPLICATE			0	0.2		6	8	18	<0.5	8	19	13
CM08-32	99890	684.38	685.45		1.07	1.7		41	12	1470	0.9	26	21	1375
CM08-32	99891	685.45	686.45		1	1.6		40	302	1025	1	31	236	833
CM08-32	99892	686.45	687.37		0.92	0.2		2	7	46	<0.5	6	18	25
CM08-32	99893	687.37	688.29		0.92	0.3		1	26	34	<0.5	6	35	25
CM08-32	99894	688.29	689.57		1.28	62.8		197	1510	>10000	48.8	148	1405	>10000				2.62						2.59
CM08-32	99895	689.57	690.57		1	1.2		2	264	230	<0.5	6	193	148
CM08-32	99896	706.64	707.64		1	3.9		14	404	556	3.2	16	319	357
CM08-32	99897	707.64	708.74		1.1	>100		184	>10000	9540	>100	139	>10000	9320	114		1.41		106				1.55
CM08-32	99898	708.74	709.74		1	4		15	616	854	2.7	10	538	750
CM08-32	99899	735.75	736.75		1	1		4	103	338	0.5	8	96	247
CM08-32	99900	736.75	737.13		0.38	14.9		104	2300	>10000	10.2	75	1860	>10000				1.69						1.63
CM08-32	99901	737.13	738.13		1	0.4		2	79	454	<0.5	6	73	292
CM08-32	99902	765.70	766.70		1	0.9		11	27	989	<0.5	15	29	853
CM08-32	99903	766.70	767.70		1	15.7		20	2130	2030	15.8	25	1890	1880
CM08-32	99904	767.70	768.70		1	2.9		7	142	306	1.4	10	156	266
CM08-32	99905	793.06	794.06		1	0.3		1	21	31	<0.5	7	29	21
CM08-32	99906	STANDARD			0	51.6		>10000	2770	>10000	39.5	>10000	2770	>10000		2.19		3.16				2.17		2.94
CM08-32	99907	794.06		794.64	0.58	6.8		100	235	3920	2.5	61	220	4150
CM08-32	99908	794.64		795.64	1	0.5		2	14	46	<0.5	6	19	44
CM08-32	99909	785.62		786.62	1	1.1		6	145	192	<0.5	8	140	140
CM08-32	99910	786.62		786.93	0.31	14.7		258	3550	3330	10.5	198	3290	3330
CM08-32	99911	786.93		787.93	1	0.5		4	29	220	<0.5	8	30	216
CM08-32	99912	805.18		806.18	1	1.4		12	264	200	0.9	13	232	174
CM08-32	99913	806.18		806.42	0.24	7.4		24	1930	7650	5.4	24	1715	7810
CM08-32	99914	806.42		807.42	1	0.3		1	13	64	<0.5	12	19	29
CM08-32	99915	830.46		831.46	1	<0.2		5	7	37	<0.5	9	16	41
CM08-32	99916	831.46		831.88	0.42	0.4		25	227	21	<0.5	26	325	20
CM08-32	99917	831.88		832.88	1	0.2		4	8	18	<0.5	7	15	19

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 133

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)					Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																			GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb		Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%		%	ppm	%
CM08-32	99918	832.88		833.88	1	0.3		6	17	31	<0.5	7	24	21
CM08-32	99919	DUPLICATE				0.3		3	10	27	<0.5	8	17	24
CM08-32	99920	833.88		834.88	1	0.4		2	10	18	<0.5	6	18	28
CM08-32	99921	834.88		835.93	1.05	0.3		3	6	9	<0.5	8	15	10
CM08-32	99922	835.93		836.96	1.03	0.4		5	6	11	<0.5	10	14	12
CM08-32	99923	836.96		837.92	0.96	<0.2		2	4	12	<0.5	9	18	19
CM08-32	99924	837.92		838.92	1	0.2		1	3	12	<0.5	7	14	14
CM08-32	99925	838.92		839.86	0.94	0.4		3	4	20	<0.5	9	19	26
CM08-32	99926	839.86		841.26	1.4	0.6		11	20	27	<0.5	14	29	26
CM08-32	99927	841.26		841.82	0.56	0.3		6	75	91	<0.5	9	83	78
CM08-32	99928	BLANK			0	<0.2		4	2	17	<0.5	6	24	21
CM08-32	99929	841.82		842.54	0.72	0.4		8	22	50	<0.5	9	33	45
CM08-32	99930	842.54		844.05	1.51	1.1		6	67	129	0.5	7	77	105
CM08-32	99931	844.05		844.87	0.82	0.2		1	15	16	<0.5	5	26	10
CM08-32	99932	844.87		846.08	1.21	0.2		3	12	113	<0.5	7	23	88
CM08-32	99933	846.08		847.02	0.94	0.3		5	24	72	<0.5	7	33	56
CM08-32	99934	847.02		848.02	1	0.2		5	23	67	<0.5	6	32	49
CM08-32	99935	848.02		848.52	0.5	0.3		5	5	28	<0.5	6	19	25
CM08-32	99936	848.52		850.04	1.52	0.6		6	66	60	<0.5	6	69	43
CM08-32	99937	850.04		850.40	0.36	25.4		126	5060	>10000	21.1	118	5670	>10000				2.15				2.1
CM08-32	99938	850.40		850.90	0.5	3.7		20	214	563	3.4	19	247	405
CM08-32	99939	850.90		851.80	0.9	9.5		12	1955	968	8	11	2060	962
CM08-32	99940	851.80		852.40	0.6	1.9		10	46	146	1.1	13	62	125
CM08-32	99941	852.40		853.40	1	0.4		24	34	38	<0.5	20	40	38
CM08-32	99942	853.40		854.56	1.16	0.2		17	6	21	<0.5	16	19	26
CM08-32	99943	854.56		855.56	1	0.3		16	3	17	<0.5	17	16	26
CM08-32	99944	DUPLICATE			0	0.2		14	4	24	<0.5	15	17	30
CM08-32	99945	855.56		857.21	1.65	<0.2		17	6	38	<0.5	16	16	42
CM08-32	99946	STANDARD			0	>100		157	3950	2530	>100	142	3900	2360	176				171
CM08-32	99947	857.21		857.71	0.5	0.5		14	12	235	<0.5	15	19	189
CM08-32	99948	BLANK			0	0.2		2	<2	8	<0.5	3	13	<5
CM08-32	99949	857.71		858.86	1.15	0.3		5	28	146	<0.5	8	35	123

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 134

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)					Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																			GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%		%	%	ppm	%	%	%	ppm	%
CM08-32	99950	858.86		859.86	1	0.7		12	53	201	<0.5	13	53	161
CM08-32	99951	859.86		860.96	1.1	0.7		14	59	85	<0.5	15	68	65
CM08-32	99952	860.96		861.96	1	0.3		14	10	30	<0.5	16	22	24
CM08-32	99953	861.96		862.16	0.2	4.6		21	1070	378	3	23	896	305
CM08-32	99954	862.16		863.24	1.08	4.2		23	983	523	2.8	23	861	443
CM08-32	99955	863.24		864.07	0.83	0.4		17	53	202	<0.5	18	63	178
CM08-32	99956	864.07		864.32	0.25	0.4		17	39	276	<0.5	18	44	238
CM08-32	99957	864.32		865.22	0.9	0.6		20	42	50	<0.5	21	49	47
CM08-32	99958	865.22		865.44	0.22	2.3		40	252	4790	1.1	36	243	4610
CM08-32	99959	865.44		866.45	1.01	0.6		18	61	159	<0.5	18	70	135
CM08-32	99960	866.45		867.22	0.77	0.4		20	40	90	<0.5	20	51	78
CM08-32	99961	867.22		867.50	0.28	5.1		89	61	148	3.9	77	72	127
CM08-32	99962	867.50		868.50	1	0.5		19	20	72	<0.5	20	42	65
CM08-32	99963	868.50		869.50	1	0.5		15	33	92	<0.5	18	45	75
CM08-32	99964	869.50		870.35	0.85	0.4		13	20	118	<0.5	14	30	94
CM08-32	99965	870.35		870.65	0.3	1.4		5	99	93	0.8	13	106	79
CM08-32	99966	870.65		871.81	1.16	0.4		14	18	39	<0.5	16	28	35
CM08-32	99967	916.35		917.60	1.25	1.5		22	1745	267	1.3	22	1560	243
CM08-32	99968	BLANK			0	0.2		2	13	7	<0.5	2	16	6
CM08-32	99969	917.60		918.30	0.7	17.5		52	>10000	3800	14	45	9450	3730			0.94
CM08-32	99970	918.30		919.15	0.85	<0.2		6	170	563	<0.5	6	163	509
CM08-32	99971	DUPLICATE			0	<0.2		2	126	76	<0.5	3	129	63
CM08-32	99972	919.15		919.80	0.65	2.1		4	2090	122	2.1	4	1825	101
CM08-32	99973	919.80		921.80	2	2.2		40	1410	2810	2.2	36	1335	2940
CM08-32	99974	921.80		923.25	1.45	<0.2		16	49	2070	<0.5	12	41	1750
CM08-32	99975	923.25		924.80	1.55	<0.2		4	112	28	<0.5	4	104	24
CM08-32	99976	924.80		925.25	0.45	5		103	706	621	4.4	93	660	503
CM08-32	99977	925.25		927.25	2	<0.2		81	110	156	<0.5	73	105	131
CM08-32	99978	927.25		929.25	2	<0.2		6	89	23	<0.5	5	65	20
CM08-32	99979	929.25		931.05	1.8	0.2		23	672	396	<0.5	18	634	345
CM08-32	99980	931.05		933.20	2.15	<0.2		13	64	92	<0.5	11	63	67
CM08-32	99981	933.20		934.50	1.3	<0.2		4	34	14	<0.5	7	32	31

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 135

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)						Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																				GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu		Pb		Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%		%		%	ppm	%
CM08-32	99982	934.50		935.85	1.35	<0.2		3	37	24	<0.5	6	37	20
CM08-32	99983	935.85		936.55	0.7	<0.2		12	204	381	<0.5	16	163	289
CM08-32	99984	936.55		938.00	1.45	<0.2		2	35	65	<0.5	5	34	57
CM08-32	99985	950.35		951.60	1.25	<0.2		5	21	41	<0.5	9	28	52
CM08-32	99986	STANDARD			0	49.8		>10000	2920	>10000	44.9	>10000	2790	>10000		2.23		3.15			2.21		3.03
CM08-32	99987	951.60		952.90	1.3	<0.2		19	42	60	<0.5	13	44	42
CM08-32	99988	BLANK			0	<0.2		6	9	15	<0.5	8	13	11
CM08-32	99989	952.90		953.55	0.65	6.1		48	2060	9870	6.1	44	1790	>10000									1.01
CM08-32	99990	953.55		954.85	1.3	<0.2		7	60	223	<0.5	9	50	172
CM08-32	99991	980.35		981.50	1.15	<0.2		3	11	15	<0.5	6	12	10
CM08-32	99992	981.50		982.45	0.95	<0.2		4	78	319	<0.5	8	76	274
CM08-32	99993	982.45		984.45	2	<0.2		3	9	11	<0.5	6	13	9
CM08-32	99994	984.45		985.75	1.3	<0.2		3	14	12	<0.5	5	15	10
CM08-32	99995	985.75		987.10	1.35	1.6		32	998	1470	1.6	34	1040	1450
CM08-32	99996	DUPLICATE			0	<0.2		15	174	672	<0.5	19	183	671
CM08-32	99997	1001.97		1002.95	0.98	<0.2		1	12	18	<0.5	7	18	15
CM08-32	99998	1002.95		1003.60	0.65	8		92	2520	9450	7.7	90	2520	9840
CM08-32	99999	1003.60		1005.65	2.05	<0.2		2	56	58	<0.5	7	68	34
CM08-32	100000	1005.65		1007.40	1.75	<0.2		1	28	34	<0.5	5	34	29
CM08-32	107001	1007.40		1008.12	0.72	6.4		24	1155	1990	5.8	25	1060	1880
CM08-32	107002	1008.12		1010.17	2.05	<0.2		1	19	21	<0.5	7	29	19
CM08-32	107003	1010.17		1012.22	2.05	<0.2		1	12	22	<0.5	8	21	20
CM08-32	107004	1012.22		1012.80	0.58	<0.2		2	56	49	<0.5	7	53	44
CM08-32	107005	1012.80		1014.30	1.5	<0.2		1	11	9	<0.5	7	20	7
CM08-32	107006	1014.30		1015.70	1.4	<0.2		1	16	4	<0.5	7	23	5
CM08-32	107007	1015.70		1016.75	1.05	<0.2		2	26	23	<0.5	7	36	23
CM08-32	107008	1016.75		1018.90	2.15	<0.2		4	59	81	<0.5	7	60	77
CM08-32	107009	1018.90		1020.25	1.35	<0.2		1	22	10	<0.5	6	31	13
CM08-32	107010	1020.25		1021.08	0.83	0.4		6	171	87	0.8	9	185	98
CM08-32	107011	1021.08		1023.03	1.95	2.7		6	809	324	2.4	10	754	306
CM08-32	107012	1023.03		1024.65	1.62	2.4		5	327	235	2.1	9	311	167

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 136

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)					Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																			GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb		Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%		%	ppm	%
CM08-32	107013	1024.65		1025.80	1.15	<0.2		1	34	16	<0.5	5	51	19
CM08-32	107014	1025.80		1027.25	1.45	<0.2		3	72	31	<0.5	7	86	30
CM08-32	107015	1027.25		1028.80	1.55	0.3		3	222	39	0.6	6	210	48
CM08-32	107016	1028.80		1030.80	2	<0.2		1	17	20	<0.5	6	24	18
CM08-32	107017	1030.80		1031.60	0.8	34.8		35	5250	>10000	27.9	30	4690	>10000				1.41				1.32
CM08-32	107018	1031.60		1033.45	1.85	<0.2		2	136	242	0.5	5	115	187
CM08-32	107019	1033.45		1034.15	0.7	41.8		250	2830	2680	35.2	210	2680	2530
CM08-32	107020	BLANK			0	0.7		3	101	218	0.8	7	109	205
CM08-32	107021	1034.15		1035.65	1.5	<0.2		2	28	25	<0.5	5	33	29
CM08-32	107022	1068.07		1070.09	2.02	0.4		11	58	1955	0.5	14	65	1665
CM08-32	107023	1070.09		1071.57	1.48	<0.2		1	18	22	<0.5	5	30	20
CM08-32	107024	1078.75		1080.26	1.51	<0.2		1	25	24	<0.5	6	48	36
CM08-32	107025	DUPLICATE			0	<0.2		3	24	88	<0.5	6	30	72
CM08-32	107026	1080.26		1081.47	1.21	<0.2		9	8	35	<0.5	11	16	31
CM08-32	107027	1081.47		1082.61	1.14	<0.2		2	6	9	<0.5	7	26	21
CM08-32	107028	1082.61		1085.35	2.74	<0.2		2	5	14	<0.5	5	17	16
CM08-32	107029	1085.35		1087.22	1.87	<0.2		1	11	17	<0.5	4	21	18
CM08-32	107030	1087.22		1089.34	2.12	0.3		3	76	72	0.6	6	79	67
CM08-32	107031	1089.34		1090.89	1.55	<0.2		16	8	40	<0.5	4	14	11
CM08-32	107032	1090.89		1092.95	2.06	<0.2		2	6	14	<0.5	5	12	12
CM08-32	107033	1092.95		1094.50	1.55	0.2		2	11	13	<0.5	6	15	14
CM08-32	107034	1143.85		1145.35	1.5	<0.2		1	14	39	<0.5	6	18	31
CM08-32	107035	1145.35		1146.00	0.65	<0.2		3	18	49	<0.5	8	23	55
CM08-32	107036	1146.00		1147.45	1.45	<0.2		1	5	10	<0.5	6	9	9
CM08-32	107037	1163.23		1164.73	1.5	<0.2		<1	5	10	<0.5	6	10	11
CM08-32	107038	1164.73		1165.28	0.55	0.3		2	20	14	<0.5	7	28	16
CM08-32	107039	1165.28		1166.77	1.49	<0.2		<1	5	13	<0.5	6	12	11
CM08-32	107040	BLANK			0	<0.2		<1	3	4	<0.5	6	7	<5
CM08-32	99781A	548.34		549.47	1.13	1.2		33	59	162	0.9	29	62	157
CM08-33	99115	491.08		492.22	1.14	1.9		49	228	98	1.6	48	202	89
CM08-33	99116	492.22		492.50	0.28	28.2		153	7070	>10000	24.3	138	6980	>10000				1.21				1.28

Caracle Creek International Consulting Inc. MAG-CM October 15, 2008 137

MAG Silver Corp.

Independent Technical Report – Cinco de Mayo, Mexico

						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)				Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																		GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%	%	%	ppm	%
CM08-33	99117	492.50		493.33	0.83	6.9		35	1620	2180	6.1	35	1480	2050
CM08-33	99118	493.33		494.11	0.78	18.9		62	3770	6370	15.9	59	3670	7050
CM08-33	99119	494.11		495.11	1	1.5		16	140	155	1.3	18	149	148
CM08-33	99120	545.93		546.93	1	0.3		3	63	138	<0.5	4	64	137
CM08-33	99121	546.93		547.17	0.24	4.2		43	1440	2520	3.3	39	1355	2210
CM08-33	99122	547.17		548.00	0.83	<0.2		1	44	49	<0.5	3	57	50
CM08-33	99123	569.88		570.91	1.03	0.5		22	1080	31	0.6	20	932	25
CM08-33	99124	570.91		571.35	0.44	0.4		36	214	255	<0.5	32	196	252
CM08-33	99125	571.35		572.69	1.34	0.5		23	107	294	0.5	20	114	263
CM08-33	99126	580.04		581.04	1	<0.2		1	2	24	<0.5	8	15	23
CM08-33	99127	581.04		581.52	0.48	<0.2		1	6	18	<0.5	8	15	14
CM08-33	99128	581.52		582.57	1.05	<0.2		2	4	22	<0.5	9	15	19
CM08-33	99129	582.57		582.90	0.33	<0.2		4	3	20	<0.5	10	13	16
CM08-33	99130	582.90		583.87	0.97	0.2		4	243	29	<0.5	9	268	15
CM08-33	99131	606.81		607.81	1	<0.2		1	8	34	<0.5	8	19	15
CM08-33	99132	607.81		608.91	1.1	0.6		4	200	323	0.5	10	186	305
CM08-33	99133	608.91		609.21	0.3	0.5		5	59	129	0.7	13	68	118
CM08-33	99134	BLANK				<0.2		<1	<2	4	<0.5	7	13	<5
CM08-33	99135	609.21		610.21	1	0.7		11	324	996	0.7	20	352	1045
CM08-33	99136	610.21		611.21	1	<0.2		7	22	57	<0.5	17	27	56
CM08-33	99137	611.21		612.26	1.05	<0.2		8	15	49	<0.5	17	22	49
CM08-33	99138	612.26		613.26	1	<0.2		9	13	46	<0.5	19	20	47
CM08-33	99139	613.26		614.26	1	<0.2		6	11	31	<0.5	16	19	28
CM08-33	99140	614.26		615.37	1.11	<0.2		8	11	27	<0.5	16	20	30
CM08-33	99141	615.37		616.37	1	<0.2		5	10	72	<0.5	13	19	63
CM08-33	99142	616.37		617.47	1.1	<0.2		5	13	42	<0.5	14	19	40
CM08-33	99143	617.47		618.54	1.07	<0.2		5	9	27	<0.5	15	18	30
CM08-33	99144	618.54		619.54	1	<0.2		4	14	25	<0.5	13	20	21
CM08-33	99145	619.54		620.54	1	<0.2		6	11	25	<0.5	14	20	24
CM08-33	99146	DUPLICATE				<0.2		6	12	27	<0.5	15	19	29
CM08-33	99147	620.54		621.56	1.02	<0.2		8	11	80	<0.5	16	19	70
CM08-33	99148	621.56		622.56	1	<0.2		12	15	52	<0.5	24	23	68

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						Original Analysis (ME-ICP41)					Original Analysis (AA61)				Re-assay of High Grade Samples (OG46)				Re-assay of High Grade Samples (AA62)						Re-assay
Drill Hole No.	Sample No.	From	To		Interval (m)																				GRA21	CON02
						Ag	Cu		Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu	Pb	Zn	Ag	Cu		Pb		Zn	Ag	Pb
						ppm	ppm		ppm	ppm	ppm	ppm	ppm	ppm	ppm	%	%	%	ppm	%		%		%	ppm	%
CM08-33	99149	622.56		623.56	1	<0.2		8	11	54	<0.5	15	22	53
CM08-33	99150	623.56		624.64	1.08	<0.2		7	7	32	<0.5	14	20	30
CM08-33	99151	624.64		625.64	1	<0.2		5	9	26	<0.5	14	19	23
CM08-33	99152	625.64		626.64	1	<0.2		5	9	28	<0.5	14	18	21
CM08-33	99153	626.64		627.66	1.02	<0.2		7	12	46	<0.5	14	20	43
CM08-33	99154	627.66		628.70	1.04	<0.2		9	10	78	<0.5	17	22	67
CM08-33	99155	STANDARD				43.5		>10000	2520	>10000	40.6	>10000	2780	>10000		2.17		3.14			2.05		3.07
CM08-33	99156	628.70		629.70	1	<0.2		21	18	50	<0.5	21	28	36
CM08-33	99157	629.70		630.62	0.92	<0.2		9	21	45	<0.5	44	51	41
CM08-33	99158	630.62		631.62	1	<0.2		5	18	30	<0.5	14	27	27
CM08-33	99159	631.62		632.62	1	<0.2		7	22	71	<0.5	16	33	70
CM08-33	99160	632.62		633.67	1.05	<0.2		10	17	68	<0.5	17	24	55
CM08-33	99161	633.67		634.67	1	<0.2		7	14	49	<0.5	16	23	40
CM08-33	99162	634.67		635.67	1	<0.2		9	17	67	<0.5	18	26	55
CM08-33	99163	BLANK				<0.2		<1	4	4	<0.5	8	12	<5
CM08-33	99164	635.67		636.71	1.04	<0.2		13	20	57	<0.5	20	30	48
CM08-33	99165	665.16		666.16	1	<0.2		12	16	56	<0.5	19	23	51
CM08-33	99166	666.16		667.21	1.05	<0.2		8	10	44	<0.5	16	21	37
CM08-33	99167	667.21		668.01	0.8	<0.2		7	14	51	<0.5	17	27	46
CM08-33	99168	668.01		668.90	0.89	<0.2		8	11	57	<0.5	16	22	48
CM08-33	99169	668.90		669.70	0.8	<0.2		7	13	64	<0.5	16	23	55
CM08-33	99170	669.70		670.70	1	<0.2		5	14	32	<0.5	15	21	24
CM08-33	99171	670.70		671.00	0.3	<0.2		2	12	39	<0.5	10	20	26
CM08-33	99172	671.00		672.00	1	<0.2		12	13	40	<0.5	20	21	34
CM08-33	99173	739.85		740.71	0.86	<0.2		1	3	3	<0.5	7	13	<5
CM08-33	99174	740.71		741.76	1.05	<0.2		2	20	7	<0.5	8	32	<5
CM08-33	99175	741.76		742.76	1	<0.2		1	3	14	<0.5	8	15	10
CM08-33	99176	DUPLICATE				<0.2		1	4	14	<0.5	7	14	11

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APPENDIX 4

CERTIFICATES OF ANALYSIS FOR ASSAY STANDARDS

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APPENDIX 5

PHOTOS AND ASSAYS FROM PROPERTY VISIT

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APPENDIX 6

OPTION AGREEMENT BETWEEN MINERA CASCABEL S.A. DE C.V.,

MINERA LOS LAGARTOS S.A. DE C.V. AND

MAG SILVER

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APPENDIX 7

SURFACE RIGHTS AGREEMENT BETWEEN MUNICIPAL BUENAVENTURA,

EJIDO BENITO JUÁREZ AND

MINERA LOS LAGARTOS S.A. DE C.V.

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