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MAG Silver Confirms Start of Phase 2 Drill Program on Canasil's La Esperanza Project

MAG Silver Corp. (MAG.TO) has confirmed that the Phase 2 drill program has started and is currently in progress at Canasil Resource Inc.'s (CLZ.V) La Esperanza silver-lead-zinc project in Durango and Zacatecas States, Mexico.

The planned program includes up to 3,500 metres of diamond drilling to test silver-lead-zinc veins in the northwest of the project area. This drill program will be part of the C$1.5 million exploration expenditures required between September 2012 and September 2013 under the option agreement for MAG to earn a 60% interest in the La Esperanza project.

MAG fell nearly 2% to $12.06 but is trading near year high $12.31. CLZ was last trading at 18 cents per share.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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