Fortuna provides update on royalty status


VANCOUVER, British Columbia, May 28, 2021 (GLOBE NEWSWIRE) – Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to provide an update on the status of the royalty claim on one of its mining concessions at the San Jose mine located in Oaxaca, Mexico.

In early February 2020, the Company initiated legal proceedings (the “Amparo Procedure”) to contest the opening of a cancellation procedure initiated by the Dirección General de Minas (“DGM”) on one of the mining concessions of the Company, if a royalty claimed by the Mexican Geological Survey (the “SGM”) has not been paid (see press releases from Fortuna dated 29 january and March 5, 2020).

As of May 27, 2021, the DGM notified the Company of the end of the cancellation procedure, as it determined that the cause required for the cancellation of the concession had not been established. As a result, the Company discontinued the Amparo proceedings in the collegiate court of Mexico.

In light of these constructive developments, the Company is now engaged in goodwill discussions with SGM to reach an agreement to the satisfaction of both parties regarding the royalty claim.

About Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with operations in Peru, Mexico and Argentina. Sustainability is an integral part of all of our operations and relationships. We produce silver and gold and generate long-term shared value for our shareholders and stakeholders through efficient production, environmental protection and social responsibility. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.

Trade symbols: NYSE: FSM | TSX: FVI

Investor Relations:
Carlos baca
E: [email protected]

Forward-looking statements

This press release contains forward-looking statements that 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, except statements of historical fact, are forward-looking statements and are subject to a variety of known and unknown risks and uncertainties that could cause actual events or results to differ. substantially from those reflected in forward-looking statements. Forward-looking statements contained in this press release may include, but are not limited to, statements about the Company’s discussions with SGM and the possibility that the Company may ultimately be required to pay the disputed royalty, or how the company would make that payment 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 “,” intended “,” reflecting “,” will “,” containing “,” remaining “,” to be “or statements that events” could “or” should “occur or be reached and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any results, performances or achievements expressed or implied by the companies. forward-looking statements. These uncertainties and factors include, among others, the fact that the Company could fail in its discussions with the SGM and be ultimately required to pay the amount of the disputed royalty plus VAT; the duration and effects of COVID-19 and any other pandemic on our operations, production and workforce, and the effects on global economies, governments, courts and society, actual results of operations production and exploration; changes in general economic conditions and financial markets; changes in the prices of gold, silver and other metals; fluctuating exchange rates; any extension of monetary controls in Argentina; technological and operational risks in Fortuna’s mining and mining development activities; delays in commissioning at Lindero; delays in achieving regular production and starting commercial production at Lindero; the risks inherent in mineral exploration; uncertainties inherent in estimating mineral reserves, mineral resources and metal recoveries; changes to current estimates of mineral reserves and resources; changes in production estimates; government and other approvals; changes of government, political unrest or instability in the countries where Fortuna is active; labor relations issues; as well as the factors described under the heading “Risk Factors” of the Company’s Annual Information Form. Although the company has attempted to identify material 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 or results differ from those expected, estimated or intended.

The forward-looking statements contained in this document are based on the assumptions, beliefs, expectations and opinions of management, including, but not limited to, expectations regarding the success of its legal and administrative proceedings which are based on advice from independent law firms; expected trends in mineral prices exchange rates; the accuracy of current estimates of the Company’s mineral resources and reserves; that the activities of the company will be in accordance with public statements and stated objectives of the company; 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 material disruption affecting the operations and other assumptions set forth herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. required. There can be no assurance that the Company will be successful in its legal proceedings or that such forward-looking statements will prove to be correct, as actual results and future events could differ materially from those anticipated in such statements. Therefore, investors should not place undue reliance on forward-looking statements.



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