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Fortuna update on pre-commissioning and commissioning activities at its Lindero gold Project in Argentina

Mine Development & Operations

Fortuna update on pre-commissioning and commissioning activities at its

Lindero gold Project in Argentina

Vancouver, December 23, 2019-- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide

an update on construction, pre-commissioning and commissioning activities at its 100 percent owned

Lindero gold Project located in the Province of Salta, Argentina.

Jorge A. Ganoza, President, CEO and Director, commented, “ Minor delays and unavailability of vendors

due to holidays thwarted our best efforts to place ore on the leach pad prior to year end.

Notwithstanding, primary and secondary crushing circuits are mechanically and electrically complete

and are in the final stages of pre -commissioning. This will be followed by commissioning of the primary

and secondary crushers by placing ore in the crushing circuit. ” Mr. Ganoza continued, “Tertiary crushing

and agglomeration still require minor terminations in the areas of electromechanical and piping. Pre-

commissioning of these facilities is now scheduled for mid -January, once vendor technicians return to

site.” Mr. Ganoza added, “Main construction contractors will work through Christmas and break from

December 28 th to January 3rd. Mine operations and p re-production work continue non -stop.” Mr.

Ganoza concluded, “We are currently in the final phase of a two year construction project in Argentina.

Our engineers and management team continue to provide the outstanding leadership required to

ensure completion of the project.”

Construction, pre-commissioning and commissioning highlights:

• As of the end of November 2019, the overall project is 85% complete

• Primary and secondary crushing circuits: Pre-commissioning activities are being carried out and

are in their final stages; placing of first ore to crushing is scheduled for the end of December

• HPGR circuit: Final mechanical completion activities and vendor representative unavailability

through the holidays have pushed back pre-commissioning activities to mid-January 2020

• Agglomeration plant: Mechanical installation is complete and minor piping and electrical

installation work is in the final stages; pre -commissioning is expected to commence in mid-

January 2020

• Power generation: 8 MW p ower plant and medium voltage power distribution system have

been commissioned

• Substations and electrical rooms: Crushing circuit , agglomeration plant substations and

electrical rooms have been commissioned

• Industrial water supply : Water wells and pumping system have been successfully tested , and

the 13 kilometer water pipeline to the project site is being pre-commissioned

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Lindero gold Project

18,750 tonnes per day crushing circuit and agglomeration plant

Primary and secondary crushing circuits are mechanically and electrically complete. Equipment is in the

final stages of pre-commissioning and will be ready to receive ore at the end of December 2019. At the

tertiary crushing circuit, acid wash of the HPGR´s hydraulic and lubrication systems has concluded and

oil flushing of the systems is being carried out . Final mechanical adjustments and pre-commissioning of

the tertiary crushing circuit will commence once vendor representatives return from the holiday roster

rotation in the second week of January 2020; commissioning is expected by mid-February.

At the agglomeration plant mechanical installation has been completed and electrical installation is in its

final stages . Substation and electric al rooms have been energized. Piping installation at both, cyanide

preparation and agglomeration plants, is being finalized; pre-commissioning is expected in January 2020.

Primary crushing circuit

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Secondary crushing circuit

Tertiary crushing circuit

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Agglomeration plant

8 megawatt power plant

The mine ’s 8 MW power plant and medium voltage power distribution system have already been

commissioned.

8 MW power plant

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Leach pad and solution ponds

Construction of the 31 hectare start-up leach pad area and solution ponds have been completed. Before

ore stacking begins, the over liner height will be increased by 35 centimeters in a reduced area

corresponding to the extent of the first lift.

Leach pad and solution ponds

ADR plant and gold refinery room

Equipment installation has been completed with piping and electrical work in progress. The substation

and electrical room have already been installed. Pre -commissioning activities are expected to

commence in February 2020.

ADR plant

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ADR plant equipment installation work

Gold refinery room

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SART plant

The SART plant is not mission critical for the start of gold production . Co mmissioning activities are

scheduled to commence in April 2020. Mechanical and electrical installation works are 39% and 8%

complete, respectively.

SART plant

Operational readiness and pre-production mining

As of the end of November 2019, the operational readiness plan implementation is proceeding

according to plan and is 90 percent complete . Mine, maintenance, processing area , and logistics

procedures have been completed. All key personnel for the operation are on site. Training for mine

operators has been completed and processing area operators are finishing their training programs. Main

supplies and consumables for the operation have been listed and are integrated into the logistics

purchase program.

In early September 2019, pre -production mining at the Lindero deposit commenced. The owner

operated mining fleet is performing according to the operation´s ramp -up plan achieving an average

mining rate of 21,000 tonnes per day during November. The Company will provide an initial conciliation

between ore mined and the geological block model in January 2020.

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Lindero deposit mining operations

Industrial water supply

The water wells and pumping system have been successfully tested. The 13 kilometer water pipeline to

the project site is being pre-commissioned.

Fresh water wells