<SEC-DOCUMENT>0001104659-24-044638.txt : 20240408
<SEC-HEADER>0001104659-24-044638.hdr.sgml : 20240408
<ACCEPTANCE-DATETIME>20240408131804
ACCESSION NUMBER:		0001104659-24-044638
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240408
FILED AS OF DATE:		20240408
DATE AS OF CHANGE:		20240408

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORTUNA SILVER MINES INC
		CENTRAL INDEX KEY:			0001341335
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		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:		24828957

	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>tm2411336d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></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 2024</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt">FORM 20-F&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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">&#168;</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)(7): &nbsp;<FONT STYLE="font-family: Wingdings">&#168;</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><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" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Date: &nbsp;April 8, 2024</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ &nbsp;&quot;<I>Jorge Ganoza Durant</I>&quot;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 66%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 4%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 30%"><FONT STYLE="font-size: 10pt">Jorge Ganoza Durant </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">President and CEO</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">&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>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><A HREF="tm2411336d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><B>99.1</B></A></TD><TD STYLE="text-align: justify"><A HREF="tm2411336d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><B>News release dated April 8, 2024</B></A></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2411336d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

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    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="tm2411336dd1_ex99-1img001.jpg" ALT=""></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #365f91"><B>NEWS RELEASE</B></FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #365f91"><B>Fortuna reports strong gold
equivalent production of 112,543 ounces in the first quarter of 2024</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Vancouver,
April 8, 2024 - </B></FONT><B>Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) </B>reports strong gold and gold equivalent production
for the first quarter of 2024 from its five operating mines in West Africa and Latin America. Gold and silver production for the quarter
was 89,678 ounces and 1.1 million ounces, respectively, or 112,543 gold equivalent ounces<SUP>1</SUP>, including lead and zinc by-products.</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="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fortuna
reiterates its 2024 annual production guidance range of 343 to 385 thousand ounces of gold and 4.0 to 4.7 million ounces of silver or
between 457 and 497 thousand ounces of gold equivalent ounces<SUP>2</SUP>, including lead and zinc by-products (refer to Fortuna news
release dated January 18, 2024</FONT>). All amounts expressed in this news release are in US dollars unless otherwise stated.</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; color: #365f91"><B>Q1 2024 highlights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #365f91">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>$40
million was repaid on the Company's credit facility in Q1 2024, resulting in a total of<BR> $121 million paid since Q3 2023.</TD></TR>
<TR STYLE="vertical-align: top"><TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>1,030,375
shares were repurchased under its normal course issuer bid program at an average price of $3.42 per share totaling $3.52 million.</TD></TR>
<TR STYLE="vertical-align: top"><TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>On
April 1, the Company exercised its right to acquire 50 percent of the 1.2 percent net smelter return (NSR) at the S&eacute;gu&eacute;la
Mine for AUD$10 million as per a royalty agreement with Franco Nevada Corp. dated March 30, 2021.</TD></TR>
<TR STYLE="vertical-align: top"><TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Gold
equivalent production of 112,543 ounces; a 20 percent increase compared to Q1 2023 (94,110 oz Au Eq)<SUP>4 </SUP>and a 17 percent decrease
compared to Q4 2023 (136,154 oz Au Eq)<SUP>3</SUP>.</TD></TR>
<TR STYLE="vertical-align: top"><TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Gold
production of 89,678 ounces; a 49 percent increase compared to Q1 2023 (60,092 oz Au)<SUP>4</SUP>. and a decrease of 16 percent compared
to Q4 2023 (107,376 oz Au)<SUP>3</SUP>.</TD></TR>
<TR STYLE="vertical-align: top"><TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD>Silver
production of 1,074,571 ounces; a 32 percent decrease compared to Q1 2023 (1,586,378 oz Ag) and a decrease of 21 percent compared to
Q4 2023 (1,354,003 oz Ag)<SUP>3</SUP>.</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Total Recordable Injury Frequency Rate (TRIFR) of 3.10 compared to 1.39 in Q1 2023.</TD></TR></TABLE>

<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">Notes:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: left">Au Eq includes gold, silver, lead, and zinc and is calculated using the following metal prices: $2,087/oz
Au, $23.43/oz Ag, $2,084/t&nbsp;Pb and $2,450/t Zn or Au:Ag&nbsp;= 1:89.08, Au:Pb = 1:1.00, Au:Zn = 1:0.85</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: left">Au Eq includes gold, silver, lead and zinc and is calculated using the following metal prices: $1,800/oz
Au, $22/oz Ag, $2,000/t Pb and $2,500/t Zn or Au:Ag = 1:81.82, Au:Pb = 1:0.90, Au:Zn = 1:0.72</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Refer
                                            to Fortuna news release dated January 18, 2024, &ldquo;</FONT><U>Fortuna reports record 2023
                                            production of 452 koz Au Eq and 2024 annual guidance of 457 to 497 koz Au Eq</U><FONT STYLE="font-size: 10pt">&rdquo;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Refer
                                            to Fortuna news release dated April 12, 2023, &ldquo;</FONT><U>Fortuna reports production
                                            of 94,110 gold equivalent ounces for the first quarter of 2023</U><FONT STYLE="font-size: 10pt">&rdquo;</FONT></TD></TR></TABLE>

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

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

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

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Q1 2024 Consolidated Gold
and Silver Production</B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding: 2pt 5.4pt; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; padding: 2pt 5.4pt; border-right: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Gold Production <BR>
(oz)</B></FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; padding: 2pt 5.4pt; border-bottom: black 1pt solid; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Silver Production <BR>
(oz)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 <BR>
2024</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 <BR>
2023</B></FONT></TD>
    <TD STYLE="border-right: gray 1pt solid; border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f477d"><B>2024 Annual Guidance<BR>
 (koz)</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 <BR>
2024</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 <BR>
2023</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #DBE5F1; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f477d"><B>2024 Annual Guidance<BR>
 (Moz)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 2pt 5.4pt; width: 27%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S&eacute;gu&eacute;la, C&ocirc;te d&rsquo;Ivoire</FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 9%; background-color: #D9D9D9; padding-left: 5.4pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34,556</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-right: gray 1pt solid; padding: 2pt 5.4pt; width: 19%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">126 - 138</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; width: 9%; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; width: 18%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 2pt 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yaramoko, Burkina Faso</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: #D9D9D9; padding-left: 5.4pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,177</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26,437</FONT></TD>
    <TD STYLE="border-right: gray 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">105 - 119</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 2pt 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lindero, Argentina</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: #D9D9D9; padding-left: 5.4pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,262</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,258</FONT></TD>
    <TD STYLE="border-right: gray 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">93 - 105</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 2pt 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">San Jose, Mexico</FONT></TD>
    <TD STYLE="padding-top: 2pt; background-color: #D9D9D9; padding-left: 5.4pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,533</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,231</FONT></TD>
    <TD STYLE="border-right: gray 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19 - 23</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">759,111</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,303,312</FONT></TD>
    <TD STYLE="padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1 - 3.6</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Caylloma, Peru</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; background-color: #D9D9D9; padding-left: 5.4pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">150</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">166</FONT></TD>
    <TD STYLE="border-right: gray 1pt solid; border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315,460</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">283,066</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.9 - 1.1</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 2pt; background-color: #D9D9D9; padding-left: 5.4pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">89,678</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60,092</FONT></TD>
    <TD STYLE="border-right: gray 1pt solid; border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">343 - 385</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; background-color: #D9D9D9; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,074,571</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,586,378</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding: 2pt 5.4pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.0 - 4.7</FONT></TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #365f91; text-align: left">&nbsp;</P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>West Africa Region</B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>S&eacute;gu&eacute;la Mine,
C&ocirc;te d&rsquo;Ivoire: Solid production with mill throughput above design capacity</B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&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="padding-top: 2pt; white-space: nowrap; vertical-align: bottom; width: 21%; border-bottom: gray 1pt solid; text-align: justify; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 40%; border-top: gray 1pt solid; border-right: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 2024</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 39%; border-top: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q4 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonnes milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">394,837</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.85pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">387,624</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average tpd milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,339</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.85pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,123</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold grade (g/t)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.79</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.85pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.62</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold recovery (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">94.4</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.85pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">94.9</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold production<SUP>1</SUP> (oz)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34,556</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.85pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,096</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</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"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify">Production includes dor&eacute; only</TD></TR></TABLE>

<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>Mining</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the first quarter of 2024, mine production totaled 420,538 tonnes of ore, averaging 2.23 g/t Au, and containing an estimated 30,192 ounces
of gold from the Antenna and Ancien pits. </FONT>Movement of waste during the quarter totaled 2,538,067 tonnes, for a strip ratio of 6:1.</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">Production was mainly focused on the Antenna
pit which produced 401,109 tonnes of ore, the remainder being mined at the Ancien pit. A total of 700,229 tonnes of waste was also mined
at Ancien. Waste mining commenced at Koula during the quarter with 18,063 tonnes of waste being mined.</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>Processing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #4f81bd">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the processing plant, 394,837 tonnes of ore
were treated at an average grade of 2.79 g/t Au, producing 34,556 ounces of gold.</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">Throughput for the quarter averaged 195 tonnes
per hour (t/hr), versus name plate design capacity of 154. Mill constraints continued to be tested with throughputs of up to 220 t/hr
being recorded over a seven-day period. This was achieved with a 60/20/20 blend of fresh, transitional and oxide ore respectively. The
Life of Mine (LOM) blend consists of 85 percent fresh rock. A relining of the mill is planned in April, and further tests will then be
conducted with a blend more representative of the LOM blend. Mine design and scheduling continues with the focus being on the requirements
to sustainably meet the expected higher throughput rates.</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="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Yaramoko Mine, Burkina
Faso: Continues to meet targets</B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; vertical-align: bottom; width: 21%; border-bottom: gray 1pt solid; text-align: justify; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 40%; border-top: gray 1pt solid; border-right: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 2024</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 39%; border-top: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q4 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonnes milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107,719</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">110,445</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average tpd milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,456</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,200</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold grade (g/t)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.79</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.16</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold recovery (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">98.2</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">98.3</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold production (oz)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27,177</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.15pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28,235</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</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"></TD><TD STYLE="width: 13.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify">Production includes dor&eacute; only</TD></TR></TABLE>

<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">In the first quarter of 2024, Yaramoko produced
27,177 ounces of gold at an average head grade of 8.79&nbsp;g/t Au, a 4 percent decrease and 23 percent increase, respectively, compared
to the fourth quarter in 2023. A planned shutdown reduced throughput in Q4 2023 and Q1 2024. During the quarter, the Company identified
further extensions to the mineralization in the western and eastern extremities of the 55 Zone.</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">Drilling focused on infill grade control and exploring
for extensions beyond the mineralized resource envelope in the deeper eastern and western portions of the 55 Zone.</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">Stoping operations at the QVP orebody accelerated
with batch mill tests confirming grade expectations.</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">In total 123,877 tonnes of ore were mined from
underground at a grade of 8.30 g/t Au containing an estimated 33,053 ounces of gold.</P>

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

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Latin America Region</B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="color: #365F91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #365f91"><B>Lindero</B></FONT>
Mine, Argentina: Steady gold production, on track to meet annual guidance</P>

<P STYLE="color: #365F91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; vertical-align: bottom; width: 21%; border-bottom: gray 1pt solid; text-align: justify; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 40%; border-top: gray 1pt solid; border-right: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 2024</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; width: 39%; border-top: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q4 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ore placed on pad (t)</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,547,323</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,556,000</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold grade (g/t)</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.60</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.63</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold production (oz)<SUP>1</SUP></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23,262</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29,591</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</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: 0.7pt"></TD><TD STYLE="width: 12.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify">Production includes dor&eacute;, gold in carbon, and gold in copper concentrate</TD></TR></TABLE>

<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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the first quarter of 2024, ore mined</FONT> was 2 million tonnes, with a stripping ratio of 0.54:1. A total of 1.55 million tonnes of
ore were placed on the leach pad at an average gold grade of 0.60 g/t, containing an estimated 29,670 ounces.</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="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lindero&rsquo;s
gold </FONT>production in the quarter was 23,262 ounces, comprised of 20,423 ounces in dor&eacute; bars, 2,814 ounces of gold
contained in fine carbon, and 25 ounces contained in copper concentrate. This is 21 percent lower compared to the fourth quarter of
2023, explained by the lower head grade of ore placed on the leach pad and a reduction in the gold-rich carbon inventory. Gold
production is aligned with the mining sequence and the Mineral Reserves estimates.</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">As of March 31, 2024, the $41 million leach pad
expansion project is approximately 35 percent complete. The construction package of the project commenced in January 2024, and is 18 percent
complete, with contractors on site undertaking earthworks and construction of the impulsion line. The procurement and construction management
(PCM) service was awarded to Knight Pi&eacute;sold consultants, with the PCM project offices installed and personnel onsite as of the
third quarter of 2023. Procurement is 92 percent complete, with critical path items onsite. The final shipments of geomembrane and geosynthetic
clay liner are currently in transit, and the pump manufacturing for the new impulsion line are all on schedule. In addition to the current
works, liner installation and major mechanical works are expected to commence in the second quarter of 2024. The project is scheduled
to be practically complete in the fourth quarter of 2024, with operations beginning ore placement by the end of 2024 according to the
stacking plan for the year.</P>

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

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>San Jose Mine, Mexico:
Production in line with mine plan</B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: gray 1pt solid; padding-top: 3pt; white-space: nowrap; vertical-align: bottom; width: 21%; text-align: justify; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="border-top: gray 1pt solid; padding-top: 3pt; width: 40%; border-right: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 2024</B></FONT></TD>
    <TD STYLE="border-top: gray 1pt solid; padding-top: 3pt; width: 39%; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q4 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonnes milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">181,103</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">241,035</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average tpd milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,182</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,678</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Silver grade (g/t)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">147</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">145</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Silver recovery (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88.73</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90.78</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Silver production (oz)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">759,111</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,023,525</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold grade (g/t)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.90</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.91</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold recovery (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">86.76</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">89.64</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gold production (oz)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,533</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,345</FONT></TD></TR>
  </TABLE>
<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="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
San Jose Mine produced 759,111 ounces of silver at an average head grade of 147 g/t Ag and </FONT>4,533 ounces of gold at an average
head grade of 0.90 g/t Au. The decrease in silver and gold production for the first quarter of 2024 when compared to the fourth
quarter of 2023, is explained by lower tonnage extracted, which is consistent with the annual plan and guidance. The processing
plant milled 181,103 tonnes at an average of 2,182 tonnes per day, in line with the plan for the period.</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="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
San Jose Mine has less operational flexibility in 2024 compared to 2023 due to the reduced and more dispersed Mineral Reserves associated
with the Trinidad deposit</FONT>. Production areas contain lower head grades and a higher presence of ferrous oxides in the upper levels,
which impacted recoveries by approximately 2 percent in the quarter. The operation is experiencing cost pressures, mainly driven by a
continued appreciation of the Mexican peso. The Company conducts regular assessments and trade-offs between maintaining operations and
a care and maintenance option.</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; color: #365f91"><B>Caylloma Mine, Peru: Consistent
performer</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: gray 1pt solid; padding-top: 3pt; white-space: nowrap; vertical-align: bottom; width: 21%; padding-left: 13.5pt; text-align: justify; text-indent: -13.5pt; padding-bottom: 3pt">&nbsp;</TD>
    <TD STYLE="border-top: gray 1pt solid; padding-top: 3pt; width: 40%; border-right: gray 1pt solid; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q1 2024</B></FONT></TD>
    <TD STYLE="border-top: gray 1pt solid; padding-top: 3pt; width: 39%; border-bottom: gray 1pt solid; background-color: #DBE5F1; text-align: center; padding-bottom: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #1f497d"><B>Q4 2023</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tonnes milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">137,096</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">140,800</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Average tpd milled</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,540</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,564</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Silver grade (g/t)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">87</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Silver recovery (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">82.08</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">83.40</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Silver production (oz)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315,460</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">330,478</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lead grade (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.48</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.84</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lead recovery (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90.55</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90.58</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lead production (lbs)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,530,584</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,798,242</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zinc grade (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.46</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zinc recovery (%)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">90.32</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">89.86</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-bottom: gray 1pt solid; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zinc production (lbs)</FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; border-right: gray 1pt solid; border-bottom: gray 1pt solid; padding-right: 76.35pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,182,745</FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: gray 1pt solid; padding-right: 76.5pt; text-align: right; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,933,215</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> Note:</P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.7pt"></TD><TD STYLE="width: 12.8pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify">Metallurgical recovery for silver is calculated based on silver
content in lead concentrate</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the first quarter 2024, the Caylloma Mine produced 315,460 ounces of silver, 5</FONT> percent lower compared to the fourth quarter 2023,
at an average head grade of 87 g/t Ag.</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">Zinc and lead production was 12.2 and 9.5 million
pounds, respectively, which represents a 13 and 12 percent decrease from the fourth quarter 2023, respectively. Zinc and lead average
head grades were 4.46 % and 3.48 %, an 11 and 9 percent decrease, respectively, against the fourth quarter of 2023.</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 metal production compared to the previous
quarter was due to lower grades, which are in line with the Mineral Reserves estimates and production guidance for the year.</P>

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

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Qualified Person </B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Eric Chapman, Senior Vice President of
Technical Services of Fortuna, is a Professional Geoscientist registered with Engineers and Geoscientists British Columbia
(Registration Number 36328) and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral
Projects. Mr. Chapman has reviewed and approved the scientific and technical information contained in this news release and has
verified the underlying data.</P>

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

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>About Fortuna Silver Mines
Inc. </B></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fortuna
Silver Mines Inc. is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, C&ocirc;te d'Ivoire,
Mexico, and Peru. 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 </FONT><FONT STYLE="color: #0070c0"><U>website</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"></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">ON BEHALF OF THE BOARD</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 0.5in 0pt 0; text-align: justify"><B>Jorge A. Ganoza </B></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;</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: justify; color: #365f91"><B>Investor Relations:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #365f91">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Carlos
Baca</B></FONT> | <U>info@fortunasilver.com</U> | <U>www.fortunasilver.com</U> | <FONT STYLE="color: #4f81bd"><B><U>Twitter</U></B></FONT>
| <FONT STYLE="color: #4f81bd"><B><U>LinkedIn</U></B></FONT> | <FONT STYLE="color: #4f81bd"><B><U>YouTube</U></B></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"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal"><I><U>Forward-looking
Statements</U></I></FONT></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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><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; changes in general economic conditions and financial markets; the impact of inflationary pressures on the
Company&rsquo;s business and operations;</I></FONT><I> statements reiterating the Company&rsquo;s 2024 annual production guidance and
the likelihood of the Company meeting such annual production guidance, including that gold production at the Lindero Mine is on-track
to meet annual guidance; the expected timing for completion of the leach pad expansion project at the Lindero Mine and the timing for
the operations to begin ore placement; the Company&rsquo;s expectations regarding the mill at the S&eacute;gu&eacute;la Mine, including
the timing for the relining of the mill and for further testing; the Company&rsquo;s business strategy, plans and outlook; the merit of
the Company&rsquo;s mines and mineral properties; the future financial or operating performance of the Company; the Company&rsquo;s ability
to comply with contractual and permitting or other regulatory requirements; 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;anticipated&rdquo;, &ldquo;estimated&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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><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, operational risks associated with mining and mineral processing; uncertainty relating
to Mineral Resource and Mineral Reserve estimates; uncertainty relating to capital and operating costs, production schedules and economic
returns; uncertainties related to new mining operations such as the S&eacute;gu&eacute;la Mine; risks relating to the Company&rsquo;s
ability to replace its Mineral Reserves; risks associated with mineral exploration and project development; uncertainty relating to the
repatriation of funds as a result of currency controls; environmental matters including obtaining or renewing environmental permits and
potential liability claims; uncertainty relating to nature and climate conditions; risks associated with political instability and changes
to the regulations governing the Company&rsquo;s business operations; changes in national and local government legislation, taxation,
controls, regulations and political or economic developments in countries in which the Company does or may carry on business; risks associated
with war, hostilities or other conflicts, such as the Ukrainian &ndash; Russian conflict and the Israel &ndash; Hamas war, and the impacts
such conflicts may have on global economic activity; risks relating to the termination of the Company&rsquo;s mining concessions in certain
circumstances; developing and maintaining relationships with local communities and stakeholders; risks associated with losing control
of public perception as a result of social media and other web-based applications; potential opposition to the Company&rsquo;s exploration,
development and operational activities; risks related to the Company&rsquo;s ability to obtain adequate financing for planned exploration
and development activities; property title matters; risks relating to the integration of businesses and assets acquired by the Company;
impairments; risks associated with climate change legislation; reliance on key personnel; adequacy of insurance coverage; operational
safety and security risks; legal proceedings and potential legal proceedings; the possibility that the appeal in respect of the ruling
in favour of </I></FONT>Compa&ntilde;ia Minera Cuzcatlan S.A. de C.V. reinstating <I>the environmental impact authorization (the &ldquo;EIA&rdquo;)
at the San Jose Mine will be successful; uncertainties relating to general economic conditions; risks relating to a global pandemic, which
could impact the Company&rsquo;s business, operations, financial condition and share price; competition; fluctuations in metal prices;
risks associated with entering into commodity forward and option contracts for base metals production; fluctuations in currency exchange
rates and interest rates; tax audits and reassessments; risks related to hedging; uncertainty relating to concentrate treatment charges
and transportation costs; sufficiency of monies allotted by the Company for land reclamation; risks associated with dependence upon information
technology systems, which are subject to disruption, damage, failure and risks with implementation and integration; risks associated with
climate change legislation; labour 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">&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"><I>&nbsp;</I></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 accuracy of the Company&rsquo;s
current Mineral Resource and Mineral Reserve estimates; that the Company&rsquo;s activities will be conducted in accordance with the Company&rsquo;s
public statements and stated goals; that there will be no material adverse change affecting the Company, its properties or its production
estimates (which assume accuracy of projected head grade, mining rates, recovery timing, and recovery rate estimates and may be impacted
by unscheduled maintenance, labor and contractor availability and other operating or technical difficulties); the duration and effect
of global and local inflation; geo-political uncertainties on the Company&rsquo;s production, workforce, business, operations and financial
condition; the expected trends in mineral prices, inflation and currency exchange rates; that the appeal filed in the Mexican Collegiate
Court challenging the reinstatement of the EIA will be unsuccessful; that all required approvals and permits will be obtained for the
Company&rsquo;s business and operations on acceptable terms; that there will be no significant disruptions affecting the Company's 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"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Cautionary Note to United States Investors
Concerning Estimates of Reserves and Resources</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>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. Unless otherwise indicated, all Mineral Reserve and Mineral
Resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of
Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves.</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>Canadian standards, including NI 43-101, differ
significantly from the requirements of the Securities and Exchange Commission, and Mineral Reserve and Mineral Resource information included
in this news release may not be comparable to similar information disclosed by U.S. companies.</I></P>

<P STYLE="color: #365f91; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B><I>&nbsp;</I></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; color: #365f91; margin: 0pt 0; text-align: left"><B><I></I></B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #365f91; text-align: left"><B><I>&nbsp;</I></B></P>

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