Drilling Program At The Seguela Project

VANCOUVER - Fortuna Silver Mines Inc. reported on the Sunbird exploration program at the Seguela gold Project located in Cote d’Ivoire.

Paul Weedon, Senior Vice President of Exploration, said, "Following the release of Sunbird´s maiden Inferred Mineral Resource containing 350,000 gold ounces in March 2022, expansion drilling has continued to grow the high grade mineralized footprint at depth and beyond the initial maiden resource envelope.” Mr. Weedon continued, “Results such as 28.2 g/t gold over 3.5 meters from drill hole SGRD1408 and 12.6 g/t gold over 7.7 meters from drill hole SGRD1422 highlight the open nature of the deposit's mineralization.” Mr. Weedon added, “Further drilling is underway to test these extensions, with drill hole SGRD1423, a further 100 meters down plunge, intersecting several points of visible gold. In addition to the exploration success at Sunbird this field season, target generation elsewhere on the Seguela property has continued to grow the portfolio with several new very encouraging prospects identified.”

Subsequent to Sunbird´s maiden Inferred Mineral Resource of 3.4 million tonnes at an average grade of 3.16 g/t gold containing 350,000 gold ounces (refer to Fortuna news release dated March 15, 2022), expansion drilling further down-dip and down-plunge has continued to intersect high grade mineralization beyond the initial optimized pit shell used to constrain the maiden Inferred Mineral Resource.

Drilling has successfully intersected an interpreted continuation of the core high grade mineralization a further 100 meters down-plunge from previous intersections with drill hole SGRD1408 intersecting 28.2 g/t gold over an estimated true width of 3.5 meters and drill hole SGRD1422 intersecting 12.6 g/t gold over an estimated true width of 7.7 meters. Assays are pending for drill hole SGRD1423 which intersected several points of visible gold a further 100 meters down plunge. This structure remains open at depth, some 350 meters below surface.

In addition to extending mineralization at depth, drilling was also designed to further define the central high grade core, with a total of eight holes consistently intersecting high grades (greater than 100 grams x meter), including the most recent drill hole SGRD1405 intersecting 18.3 g/t gold over an estimated true width of 11.9 meters from 168 meters down-hole.

An additional 5,110 meter 15-hole program to infill and extend the depth potential has commenced with four holes completed to date. Drill hole SGDD095, for which assays are pending, intersected more than five points of visible gold to two millimeters in diameter in geological logging of the drill core. This interval has the potential to extend the high grade core a further 25 meters to the north.

Regional exploration across the Seguela Project has continued to generate attractive targets along the key structural corridors and building off regional soil and auger sampling campaigns, geophysical anomalies and field mapping.