FVI.TO · 2023-05-11 12:00:00

Fortuna confirms illegal blockade lifted and operations at the San Jose Mine have resumed

Mine Development & Operations

Fortuna confirms illegal blockade lifted and operations at the San Jose Mine

have resumed

Vancouver, May 11, 2023-- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to report that the

illegal blockade at its San Jose Mine in Mexico has been lifted. Compañía Minera Cuzcatlán and union

workers have reached an agreement to resume operations at the mine and processing plant which

recommenced on May 10 at 7:00 p.m. local time.

For over a decade, the San Jose Mine has been the single largest employer in the region of Valles Centrales

and provides direct quality employment to over 1,200 people.

About Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in

Argentina, Burkina Faso, Mexico and Peru, and a fifth mine under construction in Côte d'Ivoire.

Sustainability is integral to all our operations and relationships. We produce gold and silver and generate

shared value over the long -term for our stakeholders through efficient production, environmental

protection, and social responsibility. For more information, please visit our website.

ON BEHALF OF THE BOARD

Jorge A. Ganoza

President, CEO, and Director

Fortuna Silver Mines Inc.

Investor Relations:

NEWS RELEASE

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Forward-looking Statements

This news release contains forward -looking statements which constitute “forward -looking information” within the meaning of

applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions

of the Private Securities Litigation Reform Act of 1995 (collectively, “Forward-looking Statements”). All statements included herein,

other than statements of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks

and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward -looking

Statements. The Forward -looking Statements in this news release may include, without limitation, statements about the

Company’s plans for its mines and mineral properties; the Company’s business strategy, plans and outlook; the merit of the

Company’s mines and mineral properties; production at the mines;; the future financial or operating performance of the Company;

the effects of laws, regulations and government policies affecting our operations or potential future operations; future successful

development of our projects; the esti mates of expected or anticipated economic returns from the Company’s mining operations

including future sales of metals, doré and concentrate or other products produced by the Company and the Company’s ability to

achieve its production and cost guidance; approvals and other matters. Often, but not always, these Forward-looking Statements

can be identified by the use of words such as “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”,

“detailed”, “has been”, “gain”, “planned”, “reflecting”, “will”, “anticipated”, “estimated” “containing”, “remaining”, “to be”, or

statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward-looking Statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,

performance or achievements of the Company to be materially different from any results, performance or achievements expressed

or implied by the Forward-looking Statements. Such u ncertainties and factors include, among others, future impacts of the

blockade on production; changes in general economic conditions and financial markets; the effects of inflation on the costs of

operations; the risks relating to a global pandemic, , as well as risks associated with war or other geo-political hostilities, such as

the Ukrainian – Russian conflict, any of which could continue to cause a disruption in global economic activity; fluctuation in

currencies and foreign exchange rates; changes in prices for silver, gold and other metals; technological and operational hazards

in Fortuna’s mining and mine development activities; risks inherent in mineral exploration; fluctuations in prices for energy, labor,

materials, supplies and service s; uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal

recoveries; changes to current estimates of mineral reserves and resources; changes to production and cost estimates; our ability

to obtain all necessary permits, licenses and regulatory approvals in a timely manner; governmental and other approvals; political

unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under “Risk

Factors” in the Company's Annual Information Form. Although the Company has attempted to identify important factors that

could cause actual actions, events or results to differ materially from those described in Forward -looking Statements, there may

be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management,

including but not limited to: ore grades and recove ries; prices for silver, gold and base metals remaining as estimated; currency

exchange rates remaining as estimated; capital, decommissioning and reclamation estimates; prices for energy, labour, materials

and supplies, transport and services; that there will be no material adverse change affecting the Company or its properties; that

all required approvals will be obtained; that there will be no significant disruptions affecting operations and such other

assumptions as set out herein. Forward-looking Statements are made as of the date hereof and the Company disclaims any

obligation to update any Forward-looking Statements, whether as a result of new information, future events or results or

otherwise, except as required by law. There can be no assurance that Forward-looking Statements will prove to be accurate, as

actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors sh ould

not place undue reliance on Forward-looking Statements.

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