Fortuna Reports Production Of 9 Million Silver Equivalent Ounces

VANCOUVER, BC - Jorge A. Ganoza, President and CEO of Fortuna Silver Mines Inc. said, "We once again exceeded annual production guidance from its two underground operating silver mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The company produced 6.6 million ounces of silver and 39.7 thousand ounces of gold or 9 million Ag Eq ounces, and continue to provide year-over-year growth into 2016.

At the San Jose Mine silver and gold annual production were 15 percent and 16 percent above 2015 guidance, respectively. Annual average head grades for silver and gold were 234 g/t and 1.83 g/t or 9 percent and 10 percent above plan. Increase in silver and gold production was the result of higher contributions in ore tonnage and grade from Level 1100 relative to the mine plan, and 3 percent higher metallurgical recoveries and mill throughput.

The Caylloma Mine silver annual production was 1.7 million ounces or 11 percent below revised guidance of 1.9 million ounces. Decrease in silver production was the result of the decision to re-direct mining to focus on base metal-rich zones of the polymetallic Animas Vein. Mining at the high-grade Bateas Vein stopped in the fourth quarter of 2015.

Zinc and lead annual production were 12 percent and 22 percent above revised 2015 guidance of 32.1 million pounds and 19.5 million pounds, respectively.