Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to report the first gold pour from its Lindero Mine located in the Province of Salta in Argentina. The pour took place today, on Tuesday, October 20, 2020, and produced 728 ounces of gold.

Jorge A. Ganoza, President, CEO and Director, commented, “The first gold pour at Lindero, our third mine in the Americas, is a significant achievement for the Company as we advance the mine’s ramp-up phase towards commercial production in the first quarter of 2021. Lindero is a mine with reserves for a projected life of thirteen years and is a pillar in Fortuna’s asset portfolio.” Mr. Ganoza continued, “I want to take this opportunity to commend our Salta based team’s commitment and hard work in achieving this milestone, especially in the context where COVID-19 related restrictions continue to pose multiple limitations.” Mr. Ganoza concluded, “If conditions permit, we look forward to hosting an on-site inauguration ceremony of Argentina’s newest gold mine with provincial and federal authorities early next year.”

We invite you to follow Lindero’s progress by viewing the Lindero Mine’s photo gallery on our website.

Qualified Person

Eric Chapman, Vice President of Technical Services, is a Professional Geoscientist of the Association of Professional Engineers and Geoscientists of the Province of British Columbia (Registration Number 36328). Mr. Chapman has reviewed and approved the scientific and technical information contained in this news release.

About the Lindero gold Mine, Argentina

In September 2017, the commencement of construction at Lindero was officially launched (refer to Fortuna news releases dated September 21, 2017 and December 21, 2017). Lindero has been designed as an 18,750 tonnes per day owner operated open pit mine with a pit life of 13 years based on current Mineral Reserves. Crushed ore will be placed on a leach pad with the pregnant solution pumped to SART and ADR plants prior to electrowinning and refining where gold will be poured to doré bars. The Company is advancing Lindero’s ramp up phase as per the plan outlined in Fortuna news release dated May 8, 2020.

Management reiterates total construction capital expenditures of between US$314.0 million and US$320.0 million as per the updated construction and commissioning schedule (refer to Fortuna’s news release dated May 8, 2020).  This represents an increase of 28 percent from the September 2017 feasibility estimate. The technical report of the Lindero Mine is available on SEDAR at www.sedar.com and on the Company’s website.

About Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with operations in Peru, Mexico and Argentina. Sustainability is integral to all our operations and relationships. We produce silver and gold and generate shared value over the long-term for our shareholders and stakeholders through efficient production, environmental protection, and social responsibility.