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Fortuna provides review of Brownfields exploration programs

14.02.2019  |  GlobeNewswire

VANCOUVER, Feb. 14, 2019 - Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide an overview of its Brownfields exploration programs in Mexico, Peru and Argentina.

David F. Volkert, Vice President of Exploration, commented, "An important exploration priority at Fortuna is to continue adding to the longevity of our mines. During the third and fourth quarters of 2017 and throughout 2018, the Company drilled a total of 62,412 meters in 134 surface and underground diamond holes at the San Jose and Caylloma mines and at the Arizaro Project, located within the Lindero Project concession block in Argentina.” Mr. Volkert added, “Fortuna is now working to incorporate the results of the Brownfields drilling campaigns at San Jose and Caylloma into the updated Mineral Reserve and Mineral Resource estimates for those mines, which are expected to be released next month.”

San Jose Mine, Mexico

Exploration drilling ahead of production is an ongoing program at San Jose that continued during the third and fourth quarters of 2017 and throughout 2018 totaling 50,904 meters in 105 holes with up to six drill rigs. A primary target was the Victoria mineralized zone, located 350 meters to the east of and sub-parallel to the Trinidad vein-Bonanza vein-Stockwork complex. Victoria is a blind discovery made in 2015 (see Fortuna news release dated August 12, 2015) consisting of a series of mineralized structures.

Full results for the underground drilling program consisting of 27,302 meters in 53 holes at the Victoria mineralized zone are listed in Appendix 1. Drill highlights include:

SJOM781

  • 119 g/t Ag and 0.57 g/t Au over an estimated true width of 13.5 meters

SJOM789

  • 404 g/t Ag and 2.81 g/t Au over an estimated true width of 3 meters

SJOM794

  • 213 g/t Ag and 1.24 g/t Au over an estimated true width of 6.3 meters

SJOM830

  • 273 g/t Ag and 2.10 g/t Au over an estimated true width of 5.3 meters

SJOM833

  • 217 g/t Ag and 1.72 g/t Au over an estimated true width of 7.8 meters

A longitudinal section showing the location of the drill holes is available at the following link: https://fortunasilver.com/site/assets/files/4545/2019-02-dhi-victoria-ms-ls-lw.jpg.

See Appendix 4 for full details of the additional San Jose drill holes completed during the third and fourth quarters of 2017 and 2018.

Following the successful exploration results for 2018, the Company has allocated US$4.5 million to continued Brownfields exploration at San Jose in 2019, including an estimated 11,500 meters of surface and underground diamond drilling and 450 meters of underground development for exploration drilling (see Fortuna news release dated January 17, 2019).

Caylloma Mine, Peru

Exploration drilling at Caylloma continued throughout the fourth quarter of 2017 and throughout 2018 totaling 9,330 meters in 17 surface diamond drill holes. Further to previously reported successful step-out drilling results at the Animas NE silver-polymetallic vein (see Fortuna news releases dated May 18, 2017 and October 11, 2017), drilling continues to intersect mineralized shoots ranging in size from 100 meters by 200 meters to 300 meters by 500 meters along strike to the northeast and at depth along the Animas NE vein. Step-out drilling is systematically completed outside of the present limit of the current Mineral Resource shell with drill holes spaced approximately 50 meters to 100 meters apart.

Full results for the Animas NE vein drilling program are listed in Appendix 2. Drill highlights include:

ANIS052517

  • 54 g/t Ag, 4.15 % Pb and 7.95 % Zn over an estimated true width of 7.2 meters

ANIS053817

  • 25 g/t Ag, 2.37 % Pb and 4.04 % Zn over an estimated true width of 6.8 meters

ANIS062718

  • 158 g/t Ag, 13.6 % Pb and 10.5 % Zn over an estimated true width of 3.7 meters

ANIS063318

  • 87 g/t Ag, 2.51 % Pb and 2.19 % Zn over an estimated true width of 7.0 meters

ANIS063418

  • 49 g/t Ag, 2.01 % Pb and 6.04 % Zn over an estimated true width of 3.5 meters

A longitudinal section showing the location of the step-out drill holes is available at the following link: https://fortunasilver.com/site/assets/files/4544/2019-02-08-ls-animas-ne-vein.jpg.

The Company has allocated US$0.8 million to the continued Brownfields exploration program at Caylloma in 2019, which includes surface mapping and sampling of additional silver-base metal mineralized veins throughout the 36,000-hectare claim block (see Fortuna news release dated January 17, 2019).

Arizaro Gold-Copper Project, Lindero Camp, Argentina

The Arizaro Project is located within the Lindero mining concession, 3.2 kilometers southeast of the Lindero Project. While Arizaro is not included in the current Lindero mine plan it represents upside opportunity for Lindero if a satellite operation can be developed. Previous owners completed a total of 8,854 meters of drilling in 29 diamond drill holes over four campaigns carried out in 2002 and 2010-2013 and a historical resource estimation1 prepared in accordance with NI 43-101.

  1. The historical resource estimate is included in a technical report entitled “Technical Report on the Arizaro Gold-Copper Deposit and Lindero Heap Leach Operation, Salta Province, Argentina” dated July 24, 2013 with an effective date of July 1, 2013 which was prepared for Goldrock Mines Corp. by Mine Development Associates and Kappes, Cassiday & Associates (the “Goldrock Report”), before the Company acquired the Lindero project.

    The historical estimate includes Indicated and Inferred Mineral Resources relating to the Arizaro deposit. The historical estimate was based upon assumptions contained in the Goldrock Report and uses categories as set out in National Instrument 43-101. There has been no further Mineral Resource estimates conducted at Arizaro since July 1, 2013.

    Additional drilling was conducted at Arizaro in 2018 to improve the understanding of the geologic controls on mineralization and to verify assumptions used in the estimation of the historical estimate. There can be no assurance that the historical estimate will be updated.

    The Company has not verified as a current Mineral Resource or Mineral Reserve the historical estimate contained in the Goldrock Report, which was prepared before the Company acquired an interest in the property that contains the mineralization.

    Recent independent verification of the data has not been performed. A qualified person has not done sufficient work to classify the historical estimate contained in the Goldrock Report as current Mineral Resources or Mineral Reserves. The Company is not treating the historical estimate as current Mineral Resources or Mineral Reserves and the historical estimate referred to in the Goldrock Report should not be relied upon.

During 2018 Fortuna completed a surface core drill program of 2,178 meters in 12 holes to vertical depths of less than 200 meters aimed at identifying near surface porphyry-style gold-copper mineralization hosted in magnetite and biotite-rich breccia zones and in associated stockwork veins.

Full results for the Arizaro drill program are listed in Appendix 3. Drill highlights include:

ARD32

  • 0.61 g/t Au and 0.14 % Cu over 78 meters

ARD38

  • 0.67 g/t Au and 0.16 % Cu over 52 meters

ARD41

  • 0.70 g/t Au and 0.29 % Cu over 82 meters

Drill hole ARD41 is located approximately 350 meters west of previous drilling and represents a new zone that requires additional exploration.

A map showing the location of the drill holes is available at the following link: https://fortunasilver.com/site/assets/files/4546/2019-02-arizaro-project.jpg.

Quality Assurance & Quality Control (QA-QC)

Following detailed geological and geotechnical logging, drill core samples are split on-site by diamond sawing. One half of the core is submitted to the ALS Global Laboratory in Lima, Peru, for samples from the Caylloma Mine, the ALS Global Laboratory in Guadalajara, Mexico, for samples from the San Jose Mine or the ALS Global Laboratory in Mendoza, Argentina, for samples from the Arizaro Project. The remaining half core is retained on-site for verification and reference purposes. Following preparation, the samples are assayed for gold and silver by standard fire assay methods and for silver and base metals by Inductively Coupled Plasma and atomic absorption methods utilizing aqua regia digestion at the ALS Global Laboratory in Lima, Peru, for samples from the Caylloma Mina and Arizaro Project and at the ALS Global Laboratory in Vancouver, BC, Canada, for samples from the San Jose Mine. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at a frequency of approximately 1 per 20 normal samples as well as the inclusion of duplicate samples for verification of sampling and assay precision levels.

Qualified Person

David F. Volkert, Vice President of Exploration for Fortuna Silver Mines Inc., is a Qualified Person as defined by National Instrument 43-101 being a member of the American Institute of Professional Geologists (CPG #10759) and the Association of Professional Engineers and Geoscientists of British Columbia (P. Geo. #191936). Mr. Volkert has reviewed and approved the scientific and technical information contained in this news release. Mr. Volkert has verified the data disclosed, and the sampling, analytical and test data underlying the information or opinions contained herein by completing on-site visits to each mine and project, reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process.

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. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.

Trading symbols: NYSE: FSM | TSX: FVI

Investor Relations: Carlos Baca- T (Peru): +51.1.616.6060, ext. 0

APPENDIX 1. Victoria mineralized zone, San Jose Mine Q3 2017, Q4 2017 and 2018 drill results

Drill Hole Easting Northing Azimuth
(°)
Dip
(°)
From To Interval ETW¹ Ag Au
(m) (m) (m) (m) (g/t) (g/t)
SJOM-649 745018 1848185 85 -37 258.70 262.50 3.80 1.7 51 0.37
and 350.00 352.65 2.65 1.2 91 0.63
and 363.00 367.00 4.00 1.8 196 1.21
and 373.50 376.50 3.00 1.4 473 2.71
and 383.00 390.40 7.40 3.6 281 1.24
and 409.50 414.30 4.80 2.2 230 1.45
SJOM-665 745018 1848184 98 -30 290.70 294.15 3.45 1.5 146 0.99
and 447.75 451.00 3.25 1.4 98 0.74
SJOM-670 745018 1848184 98 -36 327.05 332.80 5.75 2.1 88 0.70
and 401.45 404.95 3.50 1.3 107 0.70
and 408.80 414.85 6.05 2.2 67 0.61
and 417.60 424.70 7.10 2.5 110 0.90
SJOM-675 745018 1848184 87 -41 287.00 290.75 3.75 1.9 342 2.26
SJOM-676 745034 1847802 107 -7 381.40 388.40 7.00 4.5 356 3.53
and 400.95 402.40 1.45 1.0 87 0.66
SJOM-681A 745018 1848184 87 -30 280.80 283.55 2.75 1.8 88 0.88
and 370.10 371.35 1.25 1.1 76 0.49
SJOM-684 745018 1848184 73 -38 189.80 202.25 12.45 8.0 695 3.96
and 302.80 305.50 2.70 1.3 114 0.57
SJOM-686 745018 1848184 73 -42 211.30 221.30 10.00 4.2 213 1.37
SJOM-688 745018 1848184 73 -46 NSI²
SJOM-689 745034 1848757 273 -64 NSI²
SJOM-694A 745019 1848185 72 -24 194.85 196.65 1.80 1.1 84 0.81
SJOM-695 745034 1847802 99 -9 322.80 324.35 1.55 1.1 191 0.28
SJOM-696 745034 1848757 272 -72 NSI²
SJOM-698 745023 1848004 77 -37 424.50 428.15 3.65 1.8 127 1.25
and 439.95 449.60 9.65 5.2 363 3.21
and 452.35 457.80 5.45 2.9 90 0.89
SJOM-700 745033 1848757 291 -59 NSI²
SJOM-702 745034 1847802 98 -1 NSI²
SJOM-703 745033 1848757 273 -48 NSI²
SJOM-704 745023 1848004 78 -9 256.25 257.75 1.50 1.3 114 0.68
and 261.05 261.95 0.90 0.8 272 2.47
SJOM-710 745023 1848004 89 -36 439.35 442.00 2.65 2.4 62 0.53
and 445.50 456.85 11.35 10.3 275 1.59
  1. ETW= Estimated true width
  2. NSI = No significant intervals

APPENDIX 1. (Continued) Victoria mineralized zone, San Jose Mine Q3 2017, Q4 2017 and 2018 drill results

Drill Hole Easting Northing Azimuth
(°)
Dip
(°)
From To Interval ETW¹ Ag Au
(m) (m) (m) (m) (g/t) (g/t)
SJOM-711 745033 1847801 112 -5 396.00 397.90 1.90 1.1 671 4.00
and 412.20 413.20 1.00 0.6 42 1.27
and 424.25 427.75 3.50 2.0 123 0.78
and 433.60 435.55 1.95 1.1 84 0.58
SJOM-714 745033 1847801 114 -10 NSI²
SJOM-716 745034 1848757 270 -80 362.20 364.45 2.25 1.1 134 0.51
SJOM-717 745023 1848004 78 -39 549.05 554.20 5.15 5.0 59 0.47
SJOM-721 745031 1848570 276 -77 NSI²
SJOM-725 745034 1847802 96 -18 NSI²
SJOM-727 745023 1848005 68 -40 NSI²
SJOM-730 745034 1848757 265 -87 NSI²
SJOM-733A 745034 1847801 100 -22 486.05 488.00 1.95 1.6 125 1.00
and 499.00 505.00 6.00 4.9 90 1.17
and 508.75 511.40 2.65 2.1 312 2.62
and 516.15 517.85 1.70 1.4 80 0.65
SJOM-746 745037 1848754 220 -83 NSI²
SJOM-747 745033 1847801 110 -19 NSI²
SJOM-761 745018 1848184 102 -23 253.55 258.45 4.90 3.7 57 0.59
and 334.50 338.50 4.00 3.0 98 1.05
SJOM-763 745034 1847803 79 -16 313.90 315.00 1.10 1.0 79 0.66
and 322.15 332.50 10.35 9.3 302 2.98
and 344.50 349.00 4.50 4.0 49 0.57
SJOM-770 745033 1847803 92 -12 NSI²
SJOM-779 745034 1847804 74 -25 355.50 357.00 1.50 1.4 39 0.35
SJOM-781 745018 1848185 84 -42 238.20 242.90 4.70 2.5 75 0.58
and 238.20 242.90 4.70 2.5 75 0.58
and 369.55 403.10 33.55 13.5 119 0.57
SJOM-785 745034 1847803 90 -26 377.05 378.65 1.60 1.1 51 0.72
and 385.95 387.55 1.60 1.1 210 1.77
SJOM-787 745018 1848186 60 -35 NSI²
SJOM-789 745033 1847803 90 -28 494.45 498.75 4.30 3.0 404 2.81
SJOM-794 745017 1848186 60 -43 320.00 321.95 1.95 0.9 169 0.86
and 340.75 353.20 12.45 6.3 213 1.24
SJOM-795 745023 1848003 88 -24 303.00 305.00 2.00 1.2 143 0.99
and 379.50 385.50 6.00 3.7 87 0.64
SJOM-802 745023 1848003 86 -41 NSI²
SJOM-803 745018 1848186 61 -50 NSI²
  1. ETW= Estimated true width
  2. NSI = No significant intervals

APPENDIX 1. (Continued) Victoria mineralized zone, San Jose Mine Q3 2017, Q4 2017 and 2018 drill results

Drill Hole Easting Northing Azimuth
(°)
Dip
(°)
From To Interval ETW¹ Ag Au
(m) (m) (m) (m) (g/t) (g/t)
SJOM-811 745023 1848003 95 -5 254.95 257.40 2.45 1.8 114 0.95
SJOM-813 745018 1848187 42 -25 NSI²
SJOM-817 745023 1848002 99 -33 395.80 399.65 3.85 2.0 440 4.78
SJOM-821 745018 1848188 34 -37 249.30 253.10 3.80 1.2 113 0.58
SJOM-823A 745023 1848002 102 -37 NSI²
SJOM-826 745034 1847802 93 -28 475.90 480.00 4.10 1.9 60 0.42
SJOM-827 745019 1848185 90 0 NSI²
SJOM-828 745023 1848002 105 -9 314.15 323.80 9.65 5.7 65 0.56
and 361.60 363.30 1.70 1.0 108 0.59
SJOM-830 745034 1847802 82 -31 429.30 431.00 1.70 1.0 57 0.50
and 448.00 456.50 8.50 5.1 82 0.57
and 475.00 476.95 1.95 1.2 78 0.49
and 486.45 495.25 8.80 5.3 273 2.10
and 553.15 556.00 2.85 1.8 53 0.40
SJOM-832 745022 1848004 59 -7 239.60 241.20 1.60 1.3 784 2.48
SJOM-833 745033 1847803 90 10 282.15 291.25 9.10 7.8 217 1.72
  1. ETW= Estimated true width
  2. NSI = No significant intervals

APPENDIX 2. Animas NE vein, Caylloma Mine: Q4 2017 and 2018 drill results

Drill Hole Easting Northing Azimuth Dip From To Interval ETW¹ Ag Au Pb Zn
(m) (m) (m) (m) (g/t) (g/t) (%) (%)
ANIS052517 195642 8318238 305 -60 569.9 579.8 9.9 7.2 54 0.05 4.15 7.95
ANIS053517 195312 8318246 264 -54 380.9 386.4 6.0 4.7 24 0.16 1.15 3.99
ANIS053817 195642 8318238 309 -67 588.1 595.6 7.5 6.8 25 0.02 2.37 4.04
ANIS054217 195311 8318246 258 -64 390.6 392.6 2.0 1.6 23 0.05 1.96 2.48
ANIS054917 195642 8318238 291 -57 537.4 538.5 1.1 1.0 218 0.06 0.59 1.37
ANIS055417 195303 8317947 314 -48 481.9 482.9 1.0 0.9 26 0.04 1.61 2.47
ANIS055917 195311 8318246 279 -61 NSI²
ANIS056117 195643 8318238 283 -58 555.1 556.6 1.5 1.3 102 0.02 6.19 4.10
ANIS056417 195311 8318246 285 -52 332.4 335.7 3.4 2.8 13 0.28 0.48 6.46
ANIS061018 195304 8317947 308 -60 NSI²
ANIS061718 195302 8317947 292 -52 492.8 495.8 3.0 2.9 41 0.03 2.53 3.01
ANIS062318 195301 8317948 289 -45 493.5 495.8 2.3 2.1 31 0.10 1.83 3.10
ANIS062718A 195303 8317947 277 -47 519.0 523.9 4.8 3.7 158 0.10 13.58 10.48
ANIS063318 195229 8317832 293 -52 530.3 538.7 8.4 7.0 87 0.05 2.51 2.19
ANIS063418 195302 8317947 282 -51 507.6 511.4 3.8 3.5 49 0.04 2.01 6.04
ANIS063918 195303 8317947 290 -56 502.3 503.7 1.4 1.3 95 0.04 3.33 2.76
ANIS064618A 195301 8317947 280 -58 531.9 535.6 3.7 3.2 25 0.02 1.22 2.06
  1. ETW= Estimated true width
  2. NSI = No significant intervals

APPENDIX 3. Arizaro Project, Lindero Camp, 2018 drill results

Drill Hole Easting Northing Azimuth Dip From To Interval¹ Au Cu
(m) (m) (m) (g/t) (%)
ARD-30 2625670 7224030 270 -60 16 96 80 0.51 0.39
ARD-31 2625620 7223980 90 -60 90 108 18 0.46 0.24
ARD-32 2625740 7223925 270 -60 72 150 78 0.61 0.14
ARD-33 2625730 7223755 270 -60 44 74 30 0.53 0.15
ARD-34 2625720 7223880 270 -60 0 26 26 0.60 0.13
ARD-35 2625760 7223825 270 -60 82 154 72 0.53 0.23
ARD-36 2625730 7223780 270 -60 114 134 20 0.46 0.21
ARD-37 2625650 7223730 90 -65 58 64 6 1.19 0.56
ARD-38 2625620 7223690 90 -60 8 78 70 0.59 0.16
ARD-39 2625630 7223590 55 -60 4 18 14 0.30 0.10
ARD-40 2625640 7223655 90 -70 32 44 12 0.55 0.16
ARD-41 2625300 7223675 0 -60 8 90 82 0.70 0.28
  1. Down-the-hole intervals; orientation of the mineralization has not been established and therefore true widths cannot be estimated at this time

APPENDIX 4. San Jose Mine additional Q3 2017 and Q4 2017 and 2018 drill results

Drill Hole Easting Northing Azimuth¹
(°)
Dip¹
(°)
From To Interval ETW¹ Ag Au
(m) (m) (m) (m) (g/t) (g/t)
SJOM-657 744978 1848184 256 -22 NSI²
SJOM-679 745035 1848760 305 -20 NSI²
SJOM-679A 745034 1848758 304 -20 NSI²
SJOM-680 745028 1847803 257 -69 NSI²
SJOM-682 745018 1847999 192 -56 NSI²
SJOM-683 745018 1847999 188 -59 NSI²
SJOM-685 745018 1848000 211 -65 NSI²
SJOM-687 745017 1848000 214 -72 NSI²
SJOM-689 745034 1848757 273 -64 NSI²
SJOM-696 745034 1848757 272 -72 NSI²
SJOM-700 745033 1848757 291 -59 NSI²
SJOM-703 745033 1848757 273 -48 NSI²
SJOM-708 745034 1848757 271 -78 NSI²
SJOM-709 745031 1848569 271 -71 NSI²
SJOM-721 745031 1848570 276 -77 NSI²
SJOM-730 745034 1848757 265 -87 NSI²
SJOM-734 744979 1848187 315 -75 NSI²
SJOM-737 745036 1848877 295 -67 397.10 398.75 1.65 1.2 58 0.18
SJOM-746 745037 1848754 220 -83 NSI²
SJOM-748 744979 1848367 270 -29 NSI²
SJOM-753 745037 1848878 329 -61 NSI²
SJOM-753A 745037 1848878 329 -61 NSI²
SJOM-764 744980 1848365 234 -37 297.60 301.70 4.10 3.7 108 0.73
SJOM-765 745037 1848754 215 -74 NSI²
SJOM-771 744979 1848369 297 -33 NSI²
SJOM-778 745037 1848878 323 -69 NSI²
SJOM-780 744980 1848367 269 -68 NSI²
SJOM-782 745036 1848753 181 -63 NSI²
SJOM-783 745078 1847409 87 -30 NSI²
SJOM-784 745036 1848753 181 -72 NSI²
SJOM-786 744980 1848367 270 -76 NSI²
SJOM-788 745077 1847409 105 -30 NSI²
SJOM-790 745035 1848753 210 -44 NSI²
  1. ETW= Estimated true width
  2. NSI = No significant intervals

APPENDIX 4. (Continued) San Jose Mine additional Q3 2017 and Q4 2017 and 2018 drill results

Drill Hole Easting Northing Azimuth¹
(°)
Dip¹
(°)
From To Interval ETW¹ Ag Au
(m) (m) (m) (m) (g/t) (g/t)
SJOM-791 744980 1848367 270 -82 NSI²
SJOM-792 745030 1848877 286 -2 NSI²
SJOM-793 744978 1848186 280 -45 NSI²
SJOM-796 744978 1848186 279 -19 285.60 286.85 1.25 1.0 268 2.63
SJOM-797 745078 1847409 101 -43 NSI²
SJOM-798 744978 1848187 292 -38 NSI²
SJOM-799 745078 1847411 67 -31 NSI²
SJOM-800 745255 1846549 115 -22 NSI²
SJOM-801 744978 1848185 265 -29 NSI²
SJOM-804 745031 1848877 286 -33 NSI²
SJOM-805 744978 1848185 261 -43 118.85 120.30 1.45 1.3 116 0.66
SJOM-806 744980 1848365 240 -72 NSI²
SJOM-807 744980 1848365 265 -77 NSI²
SJOM-808 745255 1846551 100 -35 106.45 108.20 1.75 1.4 188 0.73
SJOM-809 745255 1846550 91 -45 197.00 198.65 1.65 1.1 94 0.10
SJOM-810 745255 1846550 99 -17 111.00 116.60 5.60 4.6 92 0.32
and 211.15 213.25 2.10 1.7 90 4.61
SJOM-812 744980 1848365 240 -60 NSI²
SJOM-814 745031 1848877 285 -52 NSI²
SJOM-815 744979 1848184 230 -22 NSI²
SJOM-816 745254 1846552 66 -50 NSI²
SJOM-818 744979 1848366 264 -47 NSI²
SJOM-819 745078 1847412 70 -42 NSI²
SJOM-820 745255 1846550 101 -46 NSI²
SJOM-822 745255 1846549 116 -35 NSI²
SJOM-825 745078 1847411 83 -47 NSI²
SJOM-829 744978 1848185 265 16 NSI²
  1. ETW= Estimated true width
  2. NSI = No significant intervals

Forward looking Statements

This news release contains forward looking statements which constitute “forward looking information” within the meaning of applicable Canadian securities legislation and “forward looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (collectively, “Forward looking Statements”). All statements included herein, other than statements of historical fact, are Forward looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward looking Statements. The Forward looking Statements in this news release may include, without limitation, statements about the Company’s plans for its mines and mineral properties; the Company’s business strategy, plans and outlook; the merit of the Company’s mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward looking Statements can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any results, performance or achievements expressed or implied by the Forward looking Statements. Such uncertainties and factors include, among others, changes in general economic conditions and financial markets; changes in prices for silver and other metals; technological and operational hazards in Fortuna’s mining and mine development activities; risks inherent in mineral exploration; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries; governmental and other approvals; political unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under “Risk Factors” in the Company's Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in Forward looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations regarding mine production costs; expected trends in mineral prices and currency exchange rates; the accuracy of the Company’s current mineral resource and reserve estimates; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other assumptions as set out herein. Forward looking Statements are made as of the date hereof and the Company disclaims any obligation to update any Forward looking Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that Forward looking Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on Forward looking Statements.


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