It is a little hard to tell from the picture but that does not, at least from this angle, look like the gun and mag are set up correctly. If the gun is new I would send it to Savage and get it fixed. The mag lips seem to be sitting too high up in the well and the cartridge seem to be sitting too far down in the mag. Easiest would be to try another mag but it could also be the way the mag is being held into the mag well.