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EXHIBIT 2.01

Extractive Sector Transparency Measures Act – Annual Report for the year ended December 31, 2024

Extractive Sector Transparency Measures Act - Annual Report

Graphic

Reporting Entity Name

Fortuna Silver Mines Inc.

Reporting Year

From

1/1/2024

To:

12/31/2024

Date submitted

4/19/2025

Reporting Entity ESTMA Identification Number

E929085

Graphic

Other Subsidiaries Included
(optional field)

 

 

 

 

Not Consolidated

 

 

 

 

Not Substituted

 

 

 

 

 

 

Attestation by Reporting Entity

 

 

 

 

 

 

 

In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Full Name of Director or Officer of Reporting Entity

Kevin O'Reilly

Date

4/15/2025

 

Position Title

VP Finance and Administration

 

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

1/1/2024

To:

12/31/2024

 

 

 

 

Reporting Entity Name

Fortuna Silver Mines Inc.

Currency of the Report

CAD

 

Reporting Entity ESTMA Identification Number

E929085

 

 

Subsidiary Reporting Entities (if necessary)

 

 

 

 

 

Payments by Payee

 

Country

Payee Name1

Departments, Agency, etc… within Payee that Received Payments2

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Infrastructure Improvement Payments

Total Amount paid to Payee

Notes34

Côte d'Ivoire

Government of Cote d'Ivoire

Tax authority

32,091,295

26,608,537

575,937

402,806

59,678,574

Payments made in XOF, refer to Additional notes for conversion assumptions

Burkina Faso

Government of Burkina Faso

Tax authority

3,633,488

30,386,990

3,743,213

436,778

920,530

39,121,000

Payments made in XOF, refer to Additional notes for conversion assumptions

Mexico

National Government of Mexico

Mexican Geological Service

0.00

2,788,279

0.00

0.00

0.00

0.00

0.00

2,788,279

Payments relate to royalties

Mexico

National Government of Mexico

Ministry of Economy

2,103,303

1,009,204

1,535,341

0.00

0.00

0.00

0.00

4,647,848

Payments relate to 7.5% mining
royalty (Taxes);
0.5% extraordinary mining duty
(Royalties); and
mining concessions (Fees)

Mexico

Municipality of San Jose del Progreso

 

0.00

0.00

0.00

0.00

766,678

1,149,673

1,916,352

Payments for infrastructure and
community projects at San Jose del
Progreso township

Mexico

Municipality of Magdalena Ocotlán

 

0.00

0.00

0.00

0.00

0.00

0.00

399,302

399,302

Payments for infrastructure and
community projects at Magdalena Ocotlán

Argentina

National Government of
Argentina

Ministry of Environment and Production

236,089

236,089

Water canon. Reportable under the ESTMA.

Argentina

National Government of
Argentina

Mining and energy resources secretary

2,792

2,792

Inspection expenses and exploration canon. Lower than CA$ 100,000

Argentina

Municipality of Tolar Grande

 

283,396

283,396

Construction fee. Safety, health and hygiene fee, other minor. Reportable under the ESTMA.

Argentina

Province of Salta

Grand Treasury of the Province of Salta

19,848

19,848

Stamp taxes not related to Commercial Development. Reportable under the ESTMA. Lower than CA$ 100,000

Argentina

National Government of
Argentina

Federal Public Revenue Administration

12,220,556

-

12,220,556

Custom taxes includes VAT (consumption tax specifically excluded), and customs fees. Not reportable under the ESTMA.

Argentina

National Government of
Argentina

Federal Public Revenue Administration

898,182

-

898,182

Wealth tax (on behalf of the shareholders). Reportable under the ESTMA.

Argentina

National Government of
Argentina

Federal Public Revenue Administration

1,472,280

-

1,472,280

Export duties. Reportable under the ESTMA

Argentina

Province of Salta

Grand Treasury of the Province of Salta

5,862,116

-

5,862,116

Royalties.Reportable under the ESTMA

Peru

Federal Govemement of Peru

National Superintendency of Tax Administration

12,257,494

378,367

-

12,635,860

Payments related to:
- Income Tax
- Net Assets tax
- Mining workers Retirement Plan contribution
- Mining Royalty
- Special Mining Tax

Peru

Federal Govemement of Peru

Agency for Environmental Assessment and Enforcement

109,154

-

109,154

 

Peru

Federal Govemement of Peru

Department of Investments in Mining and Energy

187,121

-

187,121

 

Peru

Federal Govemement of Peru

Institute of Geological, Mining and Metallurgy

316,818

-

316,818

Payments related to mining concessions

Peru

Federal Govemement of Peru

Water Resources Commission

253,053

-

253,053

Agriculture Minister - Peruvian Water Authority includes fees and contribution, calculated from water consumption.

 

Additional Notes:

The amounts above are all reflected in CAD, the functional currency of the reporting entity - the average exchange rates for 2024 to convert local currency amounts to CAD were as follows:
ARS 681.434; MXN 13.356; PEN 3422.; and XOF 0.002257

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

1/1/2024

To:

12/31/2024

 

 

 

 

 

 

Reporting Entity Name

Fortuna Silver Mines Inc.

Currency of the Report

CAD

 

 

Reporting Entity ESTMA Identification Number

E929085

 

 

 

 

Subsidiary Reporting Entities (if necessary)

 

 

 

 

 

Payments by Project

 

Country

Project Name1

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Infrastructure Improvement Payments

Total Amount paid by Project

Notes23

Côte d'Ivoire

Seguela Mine

32,091,295

26,608,537

575,937

-

402,806

-

-

59,678,574

Payments made in XOF, refer to Additional notes for conversion assumptions

Burkina Faso

Yaramoko Mine

3,633,488

30,386,990

3,743,213

-

436,778

920,530

-

39,121,000

Payments made in XOF, refer to Additional notes for conversion assumptions

Mexico

SAN JOSE MINE

2,103,303

3,797,484

1,535,341

 

766,678

 

1,548,976

9,751,781

 

Argentina

Lindero

14,591,018

5,862,116

542,126

-

-

-

-

20,995,259

Payments made in ARS, refer Additional notes for conversion assumptions

Peru

Caylloma

12,553,768

378,367

569,871

-

-

-

-

13,502,006

 

 

Additional Notes3:

The amounts above are all reflected in CAD, the functional currency of the reporting entity - the average exchange rates for 2024 to convert local currency amounts to CAD were as follows:
ARS 681.434; MXN 13.356; PEN 3422.; and XOF 0.002257