The main objective of this contribution was to determine the impact of magnesium (Mg) concentration and solidification rate (about 800 °C/s) on the mechanical properties of commercial A380.1 die-cast alloy. Respective amounts of 0.10%, 0.30%, and 0.50% Mg were used to establish their influence on the main tensile properties, namely, the ultimate limit, the elastic limit, and the percentage of elongation to fracture. The study also focused on the effect of magnesium on the fatigue behavior of A380.1 alloy where the role of surface defects and internal defects (porosity, oxide films, and inclusions) on the alloy fatigue life was also determined. The tensile properties were analyzed in order to optimize the heat treatments of T6 (under-aging) and T7 (over-aging). Consequently, the influence of several parameters was evaluated using tensile testing and optical and scanning electron micrography. Fatigue strength was investigated by performing rotational bending tests. The results show that the alloy tensile strength parameters improve with up to 0.3% Mg. Further addition of Mg, i.e., 0.5%, does not produce any significant improvement with respect to either traction or fatigue. It is observed that the tensile properties fluctuate according to the Guinier–Preston zones which occur during heat treatment, while the fatigue properties decrease as the Mg content increases. In contrast to a mechanical fatigue failure mechanism, in the present study, cracks were initiated at the sample’s outer surface and then propagated toward the center.