Vancouver, July 11, 2022 –Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports solid production results for the second quarter of 2022 from its four operating mines in the Americas and West Africa.

Gold and silver production highlights

Gold production of 62,171 ounces; 100 percent increase over Q2 2021
Silver production of 1,652,895 ounces; 13 percent decrease over Q2 2021
Gold equivalent1 production of 96,712 ounces
The Company delivered a steady production performance in the second quarter of 2022 with all mines on target to achieve annual guidance for silver and gold. Gold production of 62,171 ounces, an increase of 100 percent year-over-year, was mainly driven by contributions of 29,016 ounces from the Lindero Mine and 24,553 ounces from the Yaramoko Mine, acquired in July 2021 (refer to Fortuna news release dated July 2, 2021). Silver production of 1,652,895 ounces, a 13 percent decrease over the comparable period in 2021, was primarily driven by a 9 percent decrease in head grade at the San Jose Mine, which is in line with the Mineral Reserve average grade for the second quarter.

By-product base metal production amounted to 7.6 million pounds of lead and 10.9 million pounds of zinc.

Silver and gold production for the first six months of 2022 totaled 3,323,023 ounces and 128,971 ounces, respectively. Fortuna reiterates its annual production guidance range of 6.2 to 6.9 million ounces of silver and 244 to 280 thousand ounces of gold; an annual production of between 369,000 to 420,000 ounces gold equivalent2 in 2022, including lead and zinc by-products (refer to Fortuna news release dated January 18, 2022).

Notes:

Au Eq includes gold, silver, lead and zinc and is calculated using the following metal prices: US$1,869/oz Au, US$22.62/oz Ag, US$2,240/t Pb and US$3,948/t Zn or Au:Ag = 1:82.65, Au:Pb = 1:0.83, Au:Zn = 1:0.47
Au Eq includes gold, silver, lead and zinc and is calculated using the following metal prices: US$1,700/oz Au, US$22/oz Ag, US$2,100/t Pb and US$2,700/t Zn or Au:Ag = 1:77.27, Au:Pb = 1:0.81, Au:Zn = 1:0.63

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