Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) announces the closing of its previously announced bought deal equity offering. A total of 23,000,000 common shares were issued at a price of US$3.00 per Share for gross proceeds to the Company of US$69,000,000, which includes the exercise, in full, of the over-allotment option of an additional 3,000,000 Shares.

The Offering was conducted through a syndicate of underwriters led by Scotiabank and BMO Capital Markets, and including PI Financial, CIBC Capital Markets and National Bank Financial.

The Offering was completed by way of prospectus supplement to the Company’s final base shelf prospectus dated April 29, 2020, filed in each of the provinces of Canada, except Québec, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The Company intends to use the net proceeds of the Offering to fund remaining construction and preproduction related expenditures at its Lindero gold project in Argentina and for general working capital purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States or in any other jurisdiction. The securities referred to in this press release have not been and will not be registered under the U.S. Securities Act and may not be offered or sold without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption from such registration.

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.