Business Combination Creating A Low-Cost Intermediate Global Precious Metals Producer

VANCOUVER – Fortuna Silver Mines Inc. and Roxgold Inc. have entered into a definitive agreement whereby Fortuna will acquire all the issued and outstanding securities of Roxgold pursuant to a plan of arrangement.

Jorge A. Ganoza, President and Chief Executive Officer of Fortuna, said, “With Roxgold we are acquiring a complete business platform which brings: i) low-cost gold production; ii) a permitted Feasibility stage development project; iii) a robust exploration pipeline; and iv) key members of a seasoned executive team of proven mine builders, developers, and explorers in West Africa. The combined company will be in a stronger position to continue accelerating the development of the Seguela gold Project at a lower cost of capital and aggressively pursuing the potential of a most exciting exploration pipeline in West Africa and Latin America. At Fortuna, we have known and followed the success of the Roxgold team for a number of years, from their early start at Yaramoko, and now look forward to working together and continuing to deliver value to our shareholders through the advancement of our assets and discovery.”