Vancouver, January 16, 2020-- Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce fourth quarter and full year 2019 production figures from its two underground operating mines, the San Jose Mine in Mexico and the Caylloma Mine in Peru. For the full year 2019, the Company produced 8.8 million ounces of silver and 50.5 thousand ounces of gold or 12.4 million silver equivalent1 ounces.

2019 Consolidated Production Highlights
•Silver and gold production was in-line with 2019 guidance of 8.2 to 9.0 Moz Ag and 49 to 54 koz Au2
•Silver production of 8,809,767 ounces; 1 percent decrease over 2018
•Gold production of 50,525 ounces; 7 percent decrease over 2018
•Zinc production of 45,600,414 pounds; 0.3 percent increase over 2018
•Lead production of 28,746,074 pounds; 2 percent increase over 2018
•Cash cost3 for San Jose is US$69.60/t, within 2019 annual cost guidance of between US$63.5 to US$70.1/t
•Cash cost3 for Caylloma is US$86.13/t, within 2019 annual cost guidance of between US$80.0 to US$88.4/t

2019 Consolidated Operating Results

Notes:
1.Silver equivalent production does not include lead or zinc, and is calculated using silver to gold ratio of 72 to 1
2.Refer to Fortuna news release dated January 17, 2019
3.Preliminary estimates of cash operating costs per tonne are subject to modification on final cost consolidation
4.Metallurgical recovery for silver at the Caylloma Mine is calculated based on silver content in lead concentrate
5.Totals may not add due to rounding

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