<SEC-DOCUMENT>0001104659-20-046218.txt : 20200414
<SEC-HEADER>0001104659-20-046218.hdr.sgml : 20200414
<ACCEPTANCE-DATETIME>20200414115235
ACCESSION NUMBER:		0001104659-20-046218
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200414
FILED AS OF DATE:		20200414
DATE AS OF CHANGE:		20200414

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORTUNA SILVER MINES INC
		CENTRAL INDEX KEY:			0001341335
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35297
		FILM NUMBER:		20790450

	BUSINESS ADDRESS:	
		STREET 1:		200 BURRARD ST
		STREET 2:		SUITE 650
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L6
		BUSINESS PHONE:		604-484-4085

	MAIL ADDRESS:	
		STREET 1:		200 BURRARD ST
		STREET 2:		SUITE 650
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L6
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2015861d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.75in; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR<BR>
 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of <U>April 2020</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number <U>001-35297</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Fortuna Silver Mines Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name
into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>200 Burrard Street, Suite 650, Vancouver,
British Columbia, Canada V6C 3L6</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">FORM 20-F &nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;&#9;</FONT>FORM
40-F &nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): &nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): &nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD><FONT STYLE="font-size: 10pt">Date: April 14, 2020</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>Fortuna Silver Mines Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">&nbsp;/s/ &quot;<I>Jorge Ganoza Durant</I>&quot;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Jorge Ganoza Durant </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">President and CEO</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibits:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B>99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;News
Release dated April 14, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2015861d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fortuna reports production of 1.8 million
ounces of silver and 10,101 ounces of gold for the first quarter of 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Vancouver, April 14, 2020-- Fortuna
Silver Mines Inc. (NYSE: FSM) (TSX: FVI) </B>is pleased to report production results for the first quarter of 2020 from its two
operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 1.8 million
ounces of silver and 10,101 ounces of gold, plus base metal by-products. Government-mandated constraints on business to curb the
spread of COVID-19 in the countries that host our operations, have resulted in reduced production at the Caylloma Mine during
the first quarter of 2020, and subsequent to the end of the quarter, have resulted in the suspension of operations at the San
Jose Mine. Due to the uncertainties related to the impact of these constraints on the Company&rsquo;s business and operations,
the Company has withdrawn its production and cost guidance for 2020 until further notice (refer to <FONT STYLE="color: Blue"><U>Fortuna
news release dated April 2, 2020</U></FONT>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>First Quarter Production Highlights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Silver production of 1,819,312 ounces; 19 percent decrease over Q1
2019</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Gold production of 10,101 ounces; 24 percent decrease over Q1 2019</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Lead production of 7,722,793 pounds; 8 percent increase over Q1 2019</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Zinc production of 11,821,186 pounds; 5 percent increase over Q1 2019</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash cost<SUP>1</SUP> for San Jose is US$71.1/t, in line with Q1 2020
budget</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash cost<SUP>1</SUP> for Caylloma is US$80.8/t, in line with Q1 2020
budget</FONT></TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Consolidated Operating Highlights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="white-space: nowrap; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>First Quarter 2020</B></FONT></TD>
    <TD COLSPAN="4" STYLE="white-space: nowrap; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>First Quarter 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Caylloma, Peru </B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>San Jose, Mexico</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consolidated </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Caylloma, Peru</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>San Jose, Mexico</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consolidated</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="background-color: #B8CCE4">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Processed Ore</B></FONT></TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonnes milled</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">132,741</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">246,826</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">130,150</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">256,643</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average tpd milled</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,491</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,837</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,479</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,984</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="background-color: #B8CCE4">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Silver<SUP>2</SUP></B></FONT></TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grade (g/t)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">216</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">66</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">267</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recovery (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">83.53</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">91.66</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">84.06</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90.76</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production (oz)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">249,111</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,570,201</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,819,312</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">233,836</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,999,495</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,233,331</FONT></TD></TR>
<TR STYLE="background-color: #B8CCE4">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Gold</B></FONT></TD>
    <TD COLSPAN="8" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grade (g/t)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.33</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.28</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.71</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recovery (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46.39</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">91.34</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">48.74</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90.14</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production (oz)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">471</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,630</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,101</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">573</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,741</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,314</FONT></TD></TR>
<TR>
    <TD STYLE="width: 19%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; padding-right: 3.5pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>First Quarter 2020</B></FONT></TD>
    <TD COLSPAN="4" STYLE="white-space: nowrap; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>First Quarter 2019</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 3.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Caylloma, Peru </B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>San Jose, Mexico</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consolidated</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Caylloma, </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Peru</B></P></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>San Jose, Mexico</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #B8CCE4; padding-right: 3.5pt; padding-left: 3.5pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Consolidated</B></P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #B8CCE4">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lead</B></FONT></TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grade (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.96</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.74</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recovery (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">89.28</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">91.34</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production (lbs)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,722,793</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,722,793</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,172,202</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,172,202</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #B8CCE4">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Zinc</B></FONT></TD>
    <TD COLSPAN="5" STYLE="white-space: nowrap; border-bottom: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grade (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.58</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.37</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recovery (%)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88.22</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90.07</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: black 1pt solid; white-space: nowrap; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 3.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Production (lbs)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,821,186</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,821,186</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,295,244</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 3.5pt; padding-left: 3.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,295,244</FONT></TD></TR>
<TR>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 21%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Preliminary estimates of cash operating costs per tonne,
subject to modification on final cost consolidation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Metallurgical recovery for silver at the Caylloma Mine is
calculated based on silver content in lead concentrate</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Totals may not add due to rounding</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>San Jose Mine, Mexico</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The San Jose Mine produced 1,570,201 ounces
of silver and 9,630 ounces of gold in the first quarter of 2020, 11&nbsp;percent and 16 percent below budget respectively. Average
head grades for silver and gold were 216 g/t and 1.33 g/t, 6 percent and 12 percent below budget respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lower silver and gold production in the
first quarter was attributed to a decrease in processed tonnes and to a variation in head grades. The decrease in processed tonnes
is due to a stoppage in mining and processing operations caused by illegal road blockades in the vicinity of the mine, including
access to the mine (refer to Fortuna news releases dated <FONT STYLE="color: Blue"><U>March 24, 2020</U></FONT> and <FONT STYLE="color: Blue"><U>March
25, 2020</U></FONT>). The variation in head grades is related to a planned modification in the mining sequence to allow preparation
work to be conducted for pillar recovery. This restricted access to high-grade material and resulted in mining more variable peripheral
stopes during the quarter. The decrease in metal production due to the modification of the mining sequence is planned to be recovered
throughout the remainder of the year, once government-imposed restrictions on the mining industry are lifted and production at
the mine recommences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Caylloma Mine, Peru</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Caylloma Mine produced 249,111 ounces
of silver in the first quarter of 2020, 17 percent above budget. Average head grade for silver was 70 g/t, 17 percent above budget.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lead and zinc production for the first
quarter of 2020 was 7,722,793 pounds and 11,821,186 pounds, 17&nbsp;percent and 3 percent above budget respectively. Average head
grades for lead and zinc were 2.96 % and 4.58 %, 19 percent and 6 percent above budget respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On Sunday, March 15, 2020, the Government
of Peru introduced a series of measures to contain the rapid spread of COVID-19. The Company, in compliance with the regulatory
framework issued by the Ministerio de Energ&iacute;a y Minas (MINEM) and the Ministerio del Interior (MININTER), proceeded to
demobilize non-critical personnel and continued to operate, using essential personnel at Caylloma, by drawing ore from its coarse
ore stockpiles (refer to <FONT STYLE="color: Blue"><U>Fortuna news release dated March 17, 2020</U></FONT>). In the first quarter,
86&nbsp;percent of treated ore was sourced from the Animas vein grading 70 g/t Ag, 2.95% Pb and 4.57 % Zn and 14 percent was sourced
from coarse ore stockpiles grading 71 g/t Ag, 2.91% Pb and 4.65 % Zn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lindero Project, Argentina</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mining activity ramped up in the first
quarter of 2020 with a total of 718,000 tonnes of mineralized material and 1,766,000 tonnes of waste mined until March 19, 2020,
when operations were suspended due to a government declared period of mandatory national social isolation in relation to COVID-19
(refer to <FONT STYLE="color: Blue"><U>Fortuna news release dated April 2, 2020</U></FONT>). <FONT STYLE="background-color: white">Prior
to the shut-down, the operation had successfully achieved a mining rate of 40,000 tonnes per day which is required to support
full production.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below details material movements
from the pit as estimated from the grade control model versus the Mineral Reserve block model for comparable volumes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 20%; padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Grade Control Model<SUP>1, 3</SUP></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 20%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Mineral Reserve Model<SUP>2, 3</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 20%; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Difference</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stockpile</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonnes</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">718,000</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">675,000</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.4 %</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Au (g/t)</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.51</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.56</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-8.9 %</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Au (oz)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,700</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,200</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-4.1 %</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waste Dump</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonnes</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,766,000</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,801,000</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-1.9 %</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Grade control model numbers are based on estimates from blast holes</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Mineral Reserve model numbers are based on the updated Mineral
                                         Reserve estimates as of March 31, 2019 (refer to <FONT STYLE="color: Blue"><U>Fortuna
                                         news release dated April 4, 2019</U></FONT>). See also the Technical Report entitled
                                         <FONT STYLE="color: Blue"><U>&ldquo;Fortuna Silver Mines Inc.: Lindero Property, Salta
                                         Province, Argentina&rdquo;</U></FONT> with an effective date of October 31, 2017 prepared
                                         by Eric Chapman, Edwin Gutierrez, Geoff Allard and Denys Parra Murrugarra. The updated
                                         Mineral Reserve estimate does not materially change the information presented in the
                                         Technical Report.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Based on a cut-off grade of 0.26 g/t Au</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">Since
the start of pre-production in September 2019, mining has focused on extracting medium to low-grade material for stockpiling and
preparing the mine through additional waste stripping, while actively avoiding high-grade zones so that this material will be available
as direct feed upon plant commissioning.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">The
main reason for the differences between the two models is related to the focus on extracting low grade mineralized material and
waste in the first quarter, as demonstrated by a high strip ratio of 2.46. Mining predominantly in waste areas results in higher
levels of dilution than would on average be experienced. This level of dilution is not expected to be observed when mining switches
to higher grade areas.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Quality Assurance &amp; Quality Control</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Grade control estimates are based on blast
hole chip samples submitted to Lindero&acute;s on-site laboratory for preparation and assaying for gold, using fire assay with
an atomic absorption finish. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at
a frequency of approximately 1 per 20 normal samples as well as the submission of duplicate samples for verification of sampling
and assay precision levels by an ISO 9001:2000 certified umpire laboratory. ALS Global Laboratory in Mendoza, Argentina prepared
the samples for assaying and then forwarded the samples to ALS Global Laboratory in Lima, Peru for assay by standard fire assay
methods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Qualified Person </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amri Sinuhaji, Technical Services Director
 &ndash; Mine Planning, for the Company is a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure
for Mineral Projects. Mr. Sinuhaji is a Professional Engineer registered with the Association of Professional Engineers and Geoscientists
of the Province of British Columbia (# 48305) and has reviewed and approved the scientific and technical information contained
in this news release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Fortuna Silver Mines Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.2pt 0pt 0; text-align: justify">Fortuna is a growth oriented,
precious metals producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma silver Mine in
southern Peru, the San Jose silver-gold Mine in Mexico and the Lindero gold Project, currently under construction, in Argentina.
The company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas. For more information,
please visit our website at <FONT STYLE="color: Blue"><U>www.fortunasilver.com</U></FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Jorge A. Ganoza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">President, CEO and Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Fortuna Silver Mines Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Trading symbols: NYSE: FSM |
TSX: FVI</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Investor Relations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">Carlos Baca</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">T (Peru): +51.1.616.6060, ext.
0</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I><U>Forward-looking Statements</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This news release contains forward-looking
statements which constitute &ldquo;forward-looking information&rdquo; within the meaning of applicable Canadian securities legislation
and &ldquo;forward-looking statements&rdquo; within the meaning of the &ldquo;safe harbor&rdquo; provisions of the Private Securities
Litigation Reform Act of 1995 (collectively, &ldquo;Forward-looking Statements&rdquo;). 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&rsquo;s plans for its mines and mineral
properties; the duration and impacts of COVID-19 on the Company&rsquo;s production, workforce, business, operations and financial
condition; the duration of the suspension of operations at the Company&rsquo;s mines and the Lindero Project; the Company&rsquo;s
business strategy, plans and outlook; the merit of the Company&rsquo;s mines and mineral properties; mineral resource and reserve
estimates; production costs; timelines; the future financial or operating performance of the Company; expenditures; approvals and
other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as &ldquo;estimated&rdquo;,
 &ldquo;potential&rdquo;, &ldquo;open&rdquo;, &ldquo;future&rdquo;, &ldquo;assumed&rdquo;, &ldquo;projected&rdquo;, &ldquo;used&rdquo;,
 &ldquo;detailed&rdquo;, &ldquo;has been&rdquo;, &ldquo;gain&rdquo;, &ldquo;planned&rdquo;, &ldquo;reflecting&rdquo;, &ldquo;will&rdquo;,
 &ldquo;containing&rdquo;, &ldquo;remaining&rdquo;, &ldquo;to be&rdquo;, or statements that events, &ldquo;could&rdquo; or &ldquo;should&rdquo;
occur or be achieved and similar expressions, including negative variations.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>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 uncertainties and factors include, among others, changes in general economic conditions and financial markets; the duration
and impacts of COVID-19 on the Company&rsquo;s production, workforce, business, operations and financial condition, and the risks
relating to a global pandemic, which unless contained could cause a slowdown in global economic growth; the duration of the suspension
of operations at the Company&rsquo;s mines and the Lindero Project, the impact of the suspension of operations on production and
the Company&rsquo; business operations and financial condition; changes in prices for silver and other metals; technological and
operational hazards in Fortuna&rsquo;s mining and mine development activities; risks inherent in mineral exploration; 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; governmental and other approvals; changes in government, political
unrest or instability in countries where Fortuna is active; labor relations issues; as well as those factors discussed under &ldquo;Risk
Factors&rdquo; 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.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Forward-looking Statements contained
herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to the duration
and impacts of COVID-19 on the Company&rsquo;s production, workforce, business, operations and financial condition, and the risks
relating to a global pandemic, which unless contained could cause a slowdown in global economic growth; the duration of the suspension
of operations at the Company&rsquo;s mines and the Lindero Project, the impact of the suspension of operations on production and
the Company&rsquo; business operations and financial condition; the expected trends in mineral prices and currency exchange rates;
the accuracy of the Company&rsquo;s current mineral resource and reserve estimates; that the Company&rsquo;s activities will be
in accordance with the Company&rsquo;s public statements and stated goals; that there will be no material adverse change affecting
the Company or its properties; that the reconciliation of mineral reserves at the Lindero Project remains consistent with the mineral
reserve model; 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 these 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 should not
place undue reliance on Forward-looking Statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cautionary Note to United States
Investors Concerning Estimates of Reserves and Resources</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Reserve and resource estimates included
in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects
(&quot;NI 43-101&quot;) and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources
and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public
disclosure by a Canadian company of scientific and technical information concerning mineral projects. Equivalent U.S. reporting
requirements are currently governed by the United States Securities and Exchange Commission (&quot;SEC&quot;) Industry Guide 7
(&ldquo;Industry Guide 7&rdquo;) under the U.S. Securities Act of 1933, as amended. Canadian standards, including NI 43-101, differ
significantly from the requirements of the SEC currently in effect under Industry Guide 7, and reserve and resource information
contained in this news release may not be comparable to similar information disclosed by U.S. companies. In particular, the term
 &quot;resource&quot; does not equate to the term &quot;reserves&quot;. Under the SEC's disclosure standards currently in effect
under Industry Guide 7, mineralization may not be classified as a &quot;reserve&quot; unless the determination has been made that
the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. While
the SEC recognizes the reporting of mineral deposits which do not meet the Industry Standard Guide 7 definition of &ldquo;reserve&rdquo;
as of February 25, 2019, the effective adoption of the Modernization of Property Disclosures for Mining Registrants, such rules
are not required to be compiled with until the first fiscal year beginning on or after January 1, 2021. As a result, the SEC's
disclosure standards currently in effect normally do not permit the inclusion of information concerning &quot;measured mineral
resources&quot;, &quot;indicated mineral resources&quot; or &quot;inferred mineral resources&quot; or other descriptions of the
amount of mineralization in mineral deposits that do not constitute &quot;reserves&quot; by U.S. standards in documents filed with
the SEC. You are cautioned not to assume that resources will ever be converted into reserves. You should also understand that &quot;inferred
mineral resources&quot; have a great amount of uncertainty as to their existence and great uncertainty as to their economic and
legal feasibility. You should also not assume that all or any part of an &quot;inferred mineral resource&quot; will ever be upgraded
to a higher category. Under Canadian rules, estimated &quot;inferred mineral resources&quot; may not form the basis of feasibility
or pre-feasibility studies except in rare cases. You are cautioned not to assume that all or any part of an &quot;inferred mineral
resource&quot; exists or is economically or legally mineable. Disclosure of &quot;contained ounces&quot; in a resource is permitted
disclosure under Canadian regulations; however, the SEC's disclosure standards currently in effect under Industry Guide 7 normally
only permit issuers to report mineralization that does not constitute &quot;reserves&quot; by such standards as in-place tonnage
and grade without reference to unit measures. The requirements of NI 43-101 for identification of &quot;reserves&quot; are also
not the same as those of the SEC's disclosure standards currently in effect under Industry Guide 7, and reserves reported in compliance
with NI 43-101 may not qualify as &quot;reserves&quot; under such SEC standards. Accordingly, information concerning mineral deposits
set forth in this news release may not be comparable with information made public by companies that report in accordance with U.S.
standards.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
