Fortuna is a rapidly growing precious metals producer, operating two low-cost mines in Peru and Mexico and holding commanding land positions in Peru, Mexico and Argentina. Established in 2005, the company is focused on acquiring precious metals exploration projects and producing mines in Latin America. Management has established a reputation as efficient mine builders and operators by driving operational excellence and organic growth since the company’s formation.

Fortuna expects to increase annual production to 8.1 million ounces of silver, 52.4 thousand ounces of gold, 30.0 million pounds of lead and 41.0 million pounds of zinc in 2017. Estimated consolidated all-in sustaining cash cost is estimated at $9.8 per ounce of silver, net of by-product credits. Production and cost estimates are based on Mineral Reserves and Resources as of December 31, 2016.

In July 2016, Fortuna acquired the open pit, heap leach development stage Lindero gold Project in Salta, Argentina. Lindero has a 13 year reserve life, an approved environmental impact study and has been granted all major permits for the construction of an 18,750 tpd gold mine. A positive construction decision was made in September of 2017 and commissioning is expected in the second quarter of 2019. In the first year of full production, Lindero will take Fortuna´s annual consolidated production to approximately 190,000 ounces of gold and 9 million ounces of silver or 340,000 gold equivalent1 ounces.

Management is committed to operating safely and profitability and to maintaining industry best practices in employee relations, community outreach and environmental safeguards.

Fortuna is financially stable and does not hedge its silver or gold production. Shares of the company trade mainly on the New York Stock Exchange (NYSE: FSM) and Toronto Stock Exchange (TSX: FVI).

Notes:

  1. Gold equivalent ounces calculated using gold to silver ratio of 1 to 60

Fortuna's History Timeline

2017

Positive construction decision made for the Lindero gold Project; commissioning expected in Q2 2019

2016

Acquired the fully permitted, development stage Lindero gold Project in Salta, Argentina

San Jose Mine expanded from 2,000 tpd to 3,000 tpd

Caylloma Mine mill throughput increased to 1,430 tpd

2015

San Jose Mine expansion to 3,000 tpd initiated in Q1

Caylloma Mine processing plant optimization initiated in Q1

Shares voluntarily delisted from BVL

2014

San Jose Mine expanded to 2,000 tpd

2013

Trinidad North high-grade silver-gold discovery at San Jose Mine, Mexico

Commissioned San Jose Mine expansion from 1,150 to 1,800 tpd

Acquired Taviche Oeste concession with hosts Trinidad North discovery

2012

Commenced construction of San Jose Mine mill expansion to 1,800 tpd

2011

Shares begin trading on NYSE: FSM

San Jose Mine declared commercial production at 1,000 tpd

2010

Shares begin trading on TSX: FVI

Positive pre-feasibility study reported for the San Jose Mine

Started construction of the San Jose Mine

2009

Acquired 100% interest in San Jose project

Received Environmental Impact Study approval and construction permits to build the San Jose Mine

2008

Shares begin trading on BVL: FVI

2007

Successful drilling at the San Jose Project significantly increased Ag Eq resources

2006

Re-initiated production at Caylloma Mine

Acquired 76% stake in the San Jose silver-gold Project located in Oaxaca, Mexico

2005

Fortuna Silver Mines Inc. established

Shares trade on TSX.V: FVI

Acquired the Caylloma silver-lead-zinc Mine located in Arequipa, Peru

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