Fortuna Updates Reserves and Resources

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VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 24, 2016) – Fortuna Silver Mines, Inc. (NYSE:FSM)(TSX:FVI) is pleased to report updated Mineral Reserve and Mineral Resource estimates as of December 31, 2015 for the Caylloma Mine located in Arequipa, Peru and for the San Jose Mine located in Oaxaca, Mexico.

Jorge A. Ganoza, President and CEO, commented: “Our combined Proven and Probable Reserves have been negatively impacted by a forty-one percent net decrease in silver ounces at our Caylloma mine; primarily as a result of updating geologic models, depletion, changes in commercial terms, and applying a higher cutoff and dilution to narrow silver rich veins. At San Jose, silver and gold reserves are essentially flat with respect to 2014, after successfully replacing the depletion of 4.9 million silver ounces and 38,500 gold ounces for the year.”


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