The programmed reduction of tungstates and molybdates may yield the production of an intimate mixture of metals, pseudo-alloys or composite powders. As an extension of the study of obtaining powders of tungsten-copper, molybdenum-copper and tungsten-nickel from their respective salts, in the present study the reduction of silver tungstate was performed. Considering the extreme conditions for the synthesis of W-Ag alloys in the combustion wave and the limited toolkit for the study of the associated reduction mechanism, the interaction in the Ag2WO4-Mg-C system was modeled at high heating rates closer to the heating rates of reagents in the combustion wave, namely by the high-speed temperature scanner (HSTS). For the effective study of the interaction mechanism and calculation of the kinetic parameters of the individual stages, the heating rate of the reagents was changed in a wide range (from 100 to 1200 °C min−1). The interaction scheme and the sequence of the reactions along with their starting temperatures were deduced; the nature of intermediates formed during the reduction process and the microstructure evolution were monitored.