Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to report production results for the second quarter of 2019 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru.  The Company produced 2.4 million ounces of silver and 13,497 ounces of gold plus base metal by-products.  Silver and gold production for the first six months totaled 4.6 million ounces and 26,811 ounces respectively; being 5 percent above and 1 percent below the Company’s mid-year projection respectively.  Fortuna is on schedule to produce 8.2 – 9.0 million ounces of silver and 49 – 54 thousand ounces of gold or 11.7 – 12.9 million Ag Eq¹ ounces in 2019 in accordance with our annual production guidance (refer to Fortuna news release dated January 17, 2019).

Second Quarter Production Highlights

• Silver production of 2,387,225 ounces; 3 percent increase over Q2 2018
• Gold production of  13,497 ounces; 7 percent decrease over Q2 2018
• Lead production of 6,975,426 pounds; 3 percent decrease over Q2 2018
• Zinc production of 11,173,027 pounds; 2 percent decrease over Q2 2018
• Cash cost² for San Jose is US$68.6/t, within 2019 annual cost guidance of between $63.5 – $70.1/t
• Cash cost² for Caylloma is US$86.7/t, within 2019 annual cost guidance of between $80.0 – $88.4/t

Consolidated Operating Highlights

Notes:

1. Silver equivalent production does not include lead or zinc and is calculated using a silver to gold ratio of 72 to 1
   2.  Preliminary estimates of cash operating costs per tonne are subject to modification on final cost consolidation
   3.  Metallurgical recovery for silver at the Caylloma Mine is calculated based on silver content in lead concentrate
   4.  Totals may not add due to rounding

San Jose Mine, Mexico

The San Jose Mine produced 2,157,225 ounces of silver and 13,204 ounces of gold in the second quarter of 2019, 7 percent above and 4 percent below budget respectively.  Average head grades for silver and gold were 273 g/t and 1.68 g/t, 7 percent above and 3 percent below budget respectively.  Silver and gold production for the first six months of 2019 totaled 4.2 million ounces and 25,945 ounces respectively; being 5 percent above and 4 percent below the mine’s mid-year projection.

Caylloma Mine, Peru

The Caylloma Mine produced 230,000 ounces of silver in the second quarter of 2019, 1 percent above budget.  Average silver head grade of 64 g/t, 1 percent above budget.  Silver production for the first six months of 2019 totaled 463,836 ounces; 1 percent above the mine’s mid-year projection.

Lead and zinc production for the second quarter of 2019 was 6,975,426 pounds and 11,173,027 pounds respectively, in line with budget and 6 percent above budget respectively.  Average head grades for lead and zinc were 2.61% and 4.22%, in line with budget and 7 percent above budget respectively.  Base metals production for the first six months of 2019 totaled 14,147,628 pounds of lead and 22,468,271 pounds of zinc; being 1 percent below and 8 percent above the mine’s mid-year projection.

Qualified Person

Amri Sinuhaji, Technical Services Director – Mine Planning, is the Qualified Person for Fortuna Silver Mines Inc. as defined by National Instrument 43-101.  Mr. Sinuhaji is a Professional Engineer registered with the Association of Professional Engineers and Geoscientists of the Province of British Columbia (#48305) and has reviewed and approved the scientific and technical information contained in this news release.

About Fortuna Silver Mines Inc.

Fortuna is a growth oriented, precious metals producer focused on mining opportunities in Latin America.  Our primary assets are the Caylloma silver Mine in southern Peru, the San Jose silver-gold Mine in Mexico and the Lindero gold Project, currently under construction, in Argentina.  The company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas.