GlobeNewswire Inc | Sep 7, 2021 05:00AM EDT

September 07, 2021

VANCOUVER, British Columbia, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce continued high-grade results from recent extension and scout drilling at its projects in Cote dIvoire and Burkina Faso in West Africa.

Paul Weedon, Vice President of Exploration - West Africa, commented, The exploration teams at Burkina Faso and Cote dIvoire have continued to advance the exploration understanding of key structures and controls on mineralization in both the Sunbird and Galgouli projects with excellent results highlighting the potential for setting up several new targets and extensions to the known deposits at Sgula and mineralization at Boussoura. Mr. Weedon continued, The company is looking forward to the continued growth from both projects as we head into the second half of the year, with Gabbro North and Sunbird emphasising the potential of Sgula, and the continuing success of scout drilling at Boussoura in expanding the mineralized footprint.

Sgula drill highlights1 include:

Sunbird

-- SGDD089: 17.2 g/t Au over 30 meters from 142 meters -- SGDD087: 2.9 g/t Au over 20 meters from 110 meters -- SGRC1306: 2.7 g/t Au over 12 meters from 63 meters

Koula

-- SGRD1217: 28.8 g/t Au over 7 meters from 80 meters (Hanging wall lode) -- SGRD1209: 19.8 g/t Au over 11 meters from 124 meters, including 83.3 g/t Au over 3meters from 128 meters (Hanging wall lode) -- SGDD085: 6.1 g/t Au over 18 meters from 246 meters (Central lode)

Gabbro North

-- SGRC1236: 23.0 g/t Au over 4 meters from 109 meters, and 9.2 g/t Au over 5 meters from 117meters -- SGRC1239: 2.5 g/t Au over 5 meters from 17 meters

Boussoura drill highlights1 include:

Fofora Scout Drilling

-- FFR259: 6.5 g/t Au over 6 meters from 35 meters (VC4) -- FFR264: 5.2 g/t Au over 6 meters from 94 meters (VC4) -- RC125: 12.9 g/t Au over 5 meters from 24 meters and 2.5 g/t Au over 7 meters from 57meters (VC1)

Fofora Main Drilling

-- FFR272: 6.7 g/t Au over 4 meters from 127 meters and 9.9 g/t Au over 8 meters from 136 meters -- FFR270: 1.0 g/t Au over 27 meters from 40 meters, 11.4 g/t Au over 3 meters from 141meters, and 1.5 g/t Au over 10 meters from 197 meters

Galgouli Central

-- GAL055: 17.9 g/t Au over 5.4 meters from 232.2 meters, including 87.4 g/t Au over 0.95meters from 235.05 meters -- GAL065: 6.6 g/t Au over 4.8 meters from 253.2 meters, including 58.9 g/t Au over 0.5meters from 255.65 meters

Galgouli Regional

-- RC096: 22.2 g/t Au over 2 meters from 100 meters -- RC077: 18.1 g/t Au over 1 meter from 44 meters and 7.8g/t Au over 2 meters from 53meters

Note:

-- All intervals are down hole lengths which represent approximately 70% true width

Sgula gold Project, Cote dIvoire

Exploration activities at the Sgula gold Project (see Figure 1) have continued to advance the high-grade Koula deposit with step-out drilling intersecting a new zone of hanging wall mineralization as well as infilling the extension of the high-grade Koula structure. The combined 7,115-meter, 24-hole Hanging Wall (HW) and Main Zone program, which started in April 2021 is now completed. The significance of the results, including 28.8 g/t gold over 7 meters (refer to the Appendix, drill hole SGRD1217) and 19.8g/tgold over 11 meters (refer to the Appendix, drill hole SGRD1209 and to Figure 2) and the proximity to the Stage Two Pit Shell are being evaluated. Mineralization remains open at depth on the main Koula structure while the hanging wall mineralization highlights the potential for additional structures at depth.

Depth extension drilling at Sunbird, as part of the recently completed 1,774 meter, 11-hole program which started in May 2021, has extended the mineralized envelope. Results including 17.2 g/t gold over 30meters (refer to the Appendix, drill hole SGDD089) and 3.2 g/t gold over 28 metres (refer to the Appendix, drill hole SGDD088) highlight the depth potential with the deepest drilling less than 200meters below surface (refer to Figure 3). In addition, Sunbird is demonstrating very similar structural and lithological controls to those identified at the Koula and Ancien deposits. Mineralization remains open at depth and along strike with more than 1 kilometer of mineralized strike drill tested to date.

Further high-grade results, including 23.0 g/t gold over 4 meters (refer to the Appendix, drill hole SGRC1236), have been returned from the 14-hole, 2,070-meter additional scout drilling program completed in August at Gabbro North (refer to Figure 4), following up from previous high-grade results intersected in the first scout drilling phase in the second quarter of 2021. Drilling only tested the southern zone of known mineralization with mineralization now delineated along a 300-meter strike and where it remains open along strike and at depth.

Figure 1. Sgula deposits and satellite prospects

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Figure 2. Koula long section with recent assay results

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Figure 3. Sunbird long section with recent assay results

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Figure 4. Gabbro North long section with recent assay results

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Boussoura, Burkina Faso

Exploration activities at Boussoura where a 47-hole, 5,958-meter program since March 2021 has continued to advance Fofora Main where infill and extension drilling has increased the confidence in the structural controls of mineralization, with several additional high-grade intervals returned, including 9.9g/t gold over 8 meters (refer to the Appendix, drill hole FFR272). Scout drilling at the adjacent vein corridors to the west continues to highlight the regional potential, with drilling on vein corridors VC4 and VC5 intersecting extensive zones of alteration and associated quartz veining and mineralization.

Further south at Galgouli, a 12-hole, 3,419-meter program depth extension drilling on the central zone testing the structural controls and concluded in July was successful in identifying extensions to the high-grade shoots at depth with results including 17.9 g/t gold over 5.4 meters (refer to the Appendix, drill hole GAL055). A 32-hole, 4,022-meter scout drilling program was also successful in identifying high-grade mineralization approximately 1 kilometer to the south and south-east of the central Galgouli zone, testing interpreted parallel structures (10.9 g/t gold over 2 meters; refer to the Appendix, drill hole RC098) and a possible regional scale cross-structure (22.2 g/t gold over 2 meters; refer to the Appendix, drill hole RC096). A total of 44 holes have been completed for a total of 7,444 meters since April 2021.

Figure 5. Boussoura Project location on Hound Belt, Burkina Faso (Roxgold August 2021)

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Figure 6. Fofora plan view with recent results (All grades represent grams per tonne gold)

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Figure 7. Galgouli plan view with recent results for Galgouli Central and scout drilling (All grades represent grams per tonne gold)

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Quality Assurance & Quality Control (QA-QC)

All drilling data completed by the Company utilized the following procedures and methodologies. All drilling was carried out under the supervision of the companys personnel.

All RC drilling at Sgula and Boussoura used a 5.25-inch face sampling pneumatic hammer with samples collected into 60-liter plastic bags. Samples were kept dry by maintaining enough air pressure to exclude groundwater inflow. If water ingress exceeded the air pressure, RC drilling was stopped, and drilling converted to diamond core tails. Once collected, RC samples were riffle split through a three-tier splitter to yield a 12.5% representative sample for submission to the analytical laboratory. The residual 87.5% sample were stored at the drill site until assay results were received and validated. Coarse reject samples for all mineralized samples corresponding to significant intervals are retained and stored on-site at the Company controlled core yard.

All DD drill holes at Sgula and Boussoura were drilled with HQ sized diamond drill bits. The core was logged, marked up for sampling using standard lengths of one meter or to a geological boundary. Samples were then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Company core yard at the relevant project site (Sgula or Boussoura). The other half was sampled, catalogued and placed into sealed bags and securely stored at the site until shipment.

All Sgula RC and DD core samples were shipped to ALS Laboratories preparation laboratory in Yamoussoukro for preparation while all Boussoura samples were direct shipped to ALS Laboratories in Ouagadougou for preparation. Sgula samples were shipped via commercial courier to ALSs facility in Ouagadougou, Burkina Faso. Routine gold analysis using a 50-gram charge and fire assay with an atomic absorption finish was completed for all Boussoura and Sgula samples. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the ALS laboratory inserted its own quality control samples.

Qualified Person

Paul Weedon, Vice President of Exploration - West Africa for Fortuna Silver Mines Inc., is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, being a member of the Australian Institute for Geoscientists (Membership #6001). Mr. Weedon has reviewed and approved the scientific and technical information contained in this news release. Mr. Weedon has verified the data disclosed, and the sampling, analytical and test data underlying the information or opinions contained herein by reviewing geochemical and geological databases and reviewing diamond drill core. There were no limitations to the verification process.

About Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and an advanced development project in Cte dIvoire. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our shareholders and stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit ourwebsite.

ON BEHALF OF THE BOARD

Jorge A. Ganoza President, CEO, and DirectorFortuna Silver Mines Inc.

Investor Relations: Carlos Baca | E: info@fortunasilver.com

APPENDIX Sgula drill program results

Easting^ Northing^ EOH UTM Depth Depth Down Hole Est. Au HoleHoleID 1 1 Elevation Depth Azimuth Dip From To Width True (ppm) Type Area (m) (m) (m) Width -62 246 264 18 12.6 6.10 DD KoulaSGDD085 742497 895371 418 326.6 108 including 250 251 1 0.7 18.90 DD Koula

and 252 253 1 0.7 10.65 DD Koula

and 256 257 1 0.7 54.70 DD Koula

SGDD092 742435 895316 406 351.6 108 -64 NSI DD KoulaSGDD093 742454 895362 414 396.5 108 -62 374 380 6 4.2 2.05 DD KoulaSGDD094 742283 895052 384 492.5 108 -62 NSI DD KoulaSGRD1208 742459 895366 447 387.5 110 -60 NSI RCD Koula -62 124 135 11 7.7 23.95 RCD KoulaSGRD1209 742442 895263 437 324.5 108 including 128 131 3 2.1 83.27 RCD Koula

including 129 130 1 0.7 156.00 RCD Koula

SGRC1210 742380 895230 397 60.0 108 -62 NSI RC KoulaSGRD1211 742401 895223 427 396.8 108 -62 204 212 8 5.6 4.38 RCD Koula including 208 209 1 0.7 13.65 RCD KoulaSGRD1212 742338 895141 419 453.6 108 -62 NSI RCD KoulaSGRD1213 742376 895182 422 390.7 108 -62 198 199 1 0.7 10.90 RCD KoulaSGRD1214 742394 895171 396 351.5 108 -62 NSI RCD KoulaSGRD1215 742415 895216 427 345.8 108 -62 154 164 10 7 2.71 RCD Koula including 157 158 1 0.7 15.00 RCD KoulaSGRD1216 742479 895300 412 285.5 108 -62 249 258 9 6.3 1.61 RCD Koula and 280 283 3 2.1 2.66 RCD Koula -62 80 87 7 4.9 28.78 RCD KoulaSGRD1217 742459 895253 437 282.7 108 including 83 85 2 1.4 56.70 RCD Koula

And 86 87 1 0.7 68.40 RCD Koula

SGRD1218 742424 895268 436 351.6 108 -62 166 176 10 7 0.85 RCD Koula and 312 325 13 9.1 1.18 RCD KoulaSGRD1219 742357 895133 419 408.6 108 -62 NSI RCD KoulaSGRD1220 742319 895092 416 432.5 108 -62 267 271 4 2.8 2.08 RCD KoulaSGRD1221 742511 895234 434 123.5 110 -60 NSI RCD KoulaSGRD1222 742489 895241 433 150.5 110 -60 10 15 5 3.5 1.93 RCD KoulaSGRD1223 742464 895197 401 120.0 110 -60 45 46 1 0.7 6.67 RCD KoulaSGRD1224 742442 895205 428 150.8 110 -60 NSI RCD KoulaSGRD1225 742440 895154 427 120.5 110 -60 NSI RCD KoulaSGRD1226 742416 895164 425 150.8 110 -60 NSI RCD KoulaSGRD1227 742501 895291 411 260.0 110 -60 44 46 2 1.4 3.25 RCD Koula and 222 227 5 3.5 1.51 RCD Koula SGDD087 742852 893012 516 190.4 270 -60 110 130 20 14 2.93 DD Sunbird including 116 117 1 0.7 27.60 DD Sunbird -60 112 114 2 1.4 6.86 DD SunbirdSGDD088 742939 893390 509 199.3 270 including 112 113 1 0.7 11.50 DD Sunbird

and 160 188 28 19.6 3.21 DD Sunbird

including 163 164 1 0.7 22.10 DD Sunbird

and 169 170 1 0.7 10.50 DD Sunbird

and 187 188 1 0.7 15.15 DD Sunbird

-60 17 21 4 2.8 2.78 DD SunbirdSGDD089 742749 893238 482 174.4 90 and 142 172 30 21 17.16 DD Sunbird

including 142 144 2 1.4 26.70 DD Sunbird

and 146 147 1 0.7 32.80 DD Sunbird

and 148 149 1 0.7 12.50 DD Sunbird

and 154 156 2 1.4 52.90 DD Sunbird

and 157 165 8 5.6 24.81 DD Sunbird

and 166 167 1 0.7 78.40 DD Sunbird

SGDD090 742620 892814 552 225.4 90 -60 189 192 3 2.1 2.77 DD Sunbird and 207 212 5 3.5 1.11 DD SunbirdSGRC1302 742760 892715 537 133.0 270 -60 111 112 1 0.7 7.58 RC SunbirdSGRC1303 742790 892711 549 168.0 270 -60 Not abandoned RC Sunbird assayedSGRC1304 742940 893437 502 144.0 270 -60 NSI RC SunbirdSGRC1305 742898 893663 460 78.0 270 -60 NSI RC SunbirdSGRC1306 742927 893662 462 120.0 270 -60 63 75 12 8.4 2.67 RC SunbirdSGRC1307 742864 892910 507 108.0 270 -60 NSI RC SunbirdSGRC1308 742823 892763 552 234.0 270 -60 NSI RC Sunbird SGRC1228 744610 900650 507 110.0 90 -60 12 22 10 7 1.37 RC Gabbro NorthSGRC1229 744585 900650 506 160.0 90 -60 NSI RC Gabbro NorthSGRC1230 744560 900650 505 210.0 90 -60 NSI RC Gabbro NorthSGRC1231 744610 900550 523 120.0 90 -60 NSI RC Gabbro NorthSGRC1232 744560 900550 525 210.0 90 -60 163 168 5 3.5 1.94 RC Gabbro NorthSGRC1233 744610 900450 537 98.0 90 -60 NSI RC Gabbro NorthSGRC1234 744585 900450 537 18.0 90 -60 Not abandoned RC Gabbro assayed NorthSGRC1235 744585 900450 537 157.0 90 -60 NSI RC Gabbro North -60 109 113 4 2.8 23.03 RC GabbroSGRC1236 744560 900450 539 210.0 90 North including 111 112 1 0.7 86.40 RC Gabbro North and 117 122 5 3.5 9.19 RC Gabbro North including 117 119 2 1.4 16.33 RC Gabbro NorthSGRC1237 744610 900350 532 110.0 90 -60 NSI RC Gabbro NorthSGRC1238 744585 900350 532 162.0 90 -60 156 159 3 2.1 1.71 RC Gabbro NorthSGRC1239 744560 900350 533 210.0 90 -60 17 22 5 3.5 2.45 RC Gabbro NorthSGRC1240 744450 900100 505 150.0 90 -60 NSI RC Gabbro NorthSGRC1241 744400 900100 515 150.0 90 -60 NSI RC Gabbro North

Notes:1. UTM coordinate system WGS84 29N2. NSI: No Significant Intersect

APPENDIX Boussoura drill program results

Depth Depth Down Est.HoleID Easting^ Northing^ Elevation EOH UTM Dip From To Hole True Au Hole Area 1 1 Depth Azimuth (m) (m) Width Width (ppm) Type (m)BSR-21-RD-GAL-052 448342 1108445 400 240.0 59 -54 205.9 209.0 3.1 2.2 1.7 RD GalgouliBSR-21-RD-GAL-055 448122 1108786 394 282.0 36 -57 232.2 237.6 5.4 3.8 17.9 RD Galgouli including 235.1 236.0 0.9 0.7 87.4 Galgouli -85 183.3 184.3 1.0 0.7 6.3 RD GalgouliBSR-21-RD-GAL-056 448175 1108929 399 255.0 60 and 197.1 204.0 6.9 4.9 6.1 Galgouli

including 197.1 198.0 0.9 0.7 32.2 Galgouli

including 201.3 202.0 0.7 0.5 13.6 Galgouli

and 223.4 226.3 3.0 2.1 2.0 Galgouli

BSR-21-RD-GAL-057 448238 1108713 396 200.0 77 -52 168.2 170.5 2.3 1.6 1.5 RD GalgouliBSR-21-RD-GAL-058 448215 1108673 396 254.0 58 -57 149.0 150.4 1.4 1.0 7.8 RD Galgouli including 149.0 149.6 0.6 0.4 17.5 GalgouliBSR-21-RD-GAL-059 448214 1108675 396 261.2 65 -72 211.8 213.0 1.3 0.9 9.7 RD Galgouli including 211.8 212.4 0.6 0.4 19.2 RD GalgouliBSR-21-DD-GAL-060 448212 1108574 397 288.5 60 -60 242.6 244.2 1.6 1.1 4.0 DD GalgouliBSR-21-DD-GAL-061 448032 1108796 392 330.0 61 -58 314.9 315.9 1.0 0.7 22.0 DD GalgouliBSR-21-DD-GAL-062 447988 1108822 408 372.0 59 -56 354.8 356.5 1.8 1.2 0.6 DD GalgouliBSR-21-DD-GAL-063 447988 1108820 391 336.0 56 -47 307.1 307.8 0.7 0.5 5.5 DD Galgouli and 322.1 326.3 4.2 2.9 0.7 GalgouliBSR-21-RD-GAL-064 448133 1108684 394 297.0 45 -53 242.2 247.1 4.9 3.4 0.6 RD Galgouli -62 253.2 258.0 4.8 3.4 6.6 RD GalgouliBSR-21-RD-GAL-065 448134 1108695 394 303.0 42 including 255.7 256.2 0.5 0.3 58.9 Galgouli

and 274.6 275.0 0.4 0.3 22.4 Galgouli

-55 60.3 62.0 1.7 1.2 1.6 DD FoforaBSR-21-DD-FFR-229 445490 1122947 453 381 65 VC3 and 101.1 106.8 5.7 4.0 0.5 Fofora VC3 and 134.8 138.9 4.1 2.9 0.9 Fofora VC3 and 142.6 149.0 6.4 4.5 3.0 Fofora VC3 including 144.4 145.5 1.1 0.8 6.9 Fofora VC3 including 148.0 149.0 1.0 0.7 8.2 Fofora VC3 and 159.5 169.5 10.0 7.0 0.8 Fofora VC3 and 285.6 301.0 15.4 10.8 0.5 Fofora VC3 and 329.7 331.3 1.6 1.1 1.4 Fofora VC3 and 365.2 369.8 4.6 3.2 2.1 Fofora VC3 and 372.5 377.0 4.6 3.2 0.7 Fofora VC3 -55 106.8 116.0 9.2 6.4 0.9 RD FoforaBSR-21-RD-FFR-230 445458 1123036 441 282 65 VC3 including 106.8 107.7 0.9 0.6 5.3 Fofora VC3 and 142.0 148.3 6.3 4.4 0.8 Fofora VC3 and 153.7 156.0 2.3 1.6 1.2 Fofora VC3 and 162.0 168.0 6.0 4.2 0.7 Fofora VC3 and 172.8 173.6 0.8 0.6 1.1 Fofora VC3 and 222.8 225.4 2.6 1.8 1.2 Fofora VC3 -50 16.0 17.0 1.0 0.7 0.8 RC FoforaBSR-21-RC-FFR-233 445537 1120790 390 110 230 VC4 and 46.0 48.0 2.0 1.4 0.5 Fofora VC4 and 60.0 63.0 3.0 2.1 2.3 Fofora VC4 and 93.0 94.0 1.0 0.7 2.4 Fofora VC4 -50 22.0 24.0 2.0 1.4 10.8 RC FoforaBSR-21-RC-FFR-236A 445303 1120880 414 135 230 VC5 including 23.0 24.0 1.0 0.7 20.7 Fofora VC5BSR-21-RC-FFR-238 445395 1120957 411 104 230 -50 45.0 47.0 2.0 1.4 1.0 RC Fofora VC4 -50 64.0 66.0 2.0 1.4 1.9 RC FoforaBSR-21-RC-FFR-240 445483 1121033 391 108 230 VC4 and 77.0 80.0 3.0 2.1 2.2 Fofora VC4BSR-21-RC-FFR-242 445262 1121132 402 102 230 -50 73.0 78.0 5.0 3.5 2.2 RC Fofora VC5BSR-21-RC-FFR-243 445311 1121171 401 160 230 -50 139.0 149.0 10.0 7.0 1.1 RC Fofora VC5 -50 62.0 64.0 2.0 1.4 2.0 RC FoforaBSR-21-RC-FFR-245 445398 1121239 398 102 230 VC4 and 84.0 89.0 5.0 3.5 0.8 Fofora VC4BSR-21-RC-FFR-246 445152 1121842 438 117 260 -50 52.0 54.0 2.0 1.4 1.2 RC Fofora VC4BSR-21-RC-FFR-247A 446597 1123144 363 120 60 -50 69.0 70.0 1.0 0.7 2.0 RC Fofora RegionalBSR-21-RC-FFR-248 445331 1122071 429 102 90 -50 77.0 80.0 3.0 2.1 0.5 RC Fofora Regional -50 1.0 5.0 4.0 2.8 0.6 RC FoforaBSR-21-RC-FFR-249A 446649 1123173 361 108 60 Regional and 11.0 18.0 7.0 4.9 1.1 Fofora RegionalBSR-21-RC-FFR-250 446702 1123201 360 102 60 -50 98.0 102.0 4.0 2.8 0.4 RC Fofora RegionalBSR-21-RC-FFR-257 446522 1123593 383 102 270 -50 64.0 68.0 4.0 2.8 1.3 RC Fofora Regional -50 35.0 41.0 6.0 4.2 6.5 RC FoforaBSR-21-RC-FFR-259 444643 1123275 412 100 245 VC4 including 36.0 38.0 2.0 1.4 16.6 Fofora VC4 and 82.0 88.0 6.0 4.2 0.4 Fofora VC4BSR-21-RC-FFR-260 444684 1123300 413 108 245 -50 61.0 63.0 2.0 1.4 1.2 RC Fofora VC4 -50 32.0 37.0 5.0 3.5 0.7 RC FoforaBSR-21-RC-FFR-261 445229 1122076 430 106 270 VC4 and 88.0 92.0 4.0 2.8 1.2 Fofora VC4 -50 1.0 6.0 5.0 3.5 0.4 RC FoforaBSR-21-RC-FFR-262 445208 1122109 432 117 270 VC4 and 18.0 23.0 5.0 3.5 0.4 Fofora VC4 and 45.0 51.0 6.0 4.2 0.9 Fofora VC4 -50 50.0 53.0 3.0 2.1 0.6 RC FoforaBSR-21-RC-FFR-263 445235 1122111 429 102 270 VC4 and 93.0 97.0 4.0 2.8 0.7 Fofora VC4 -50 94.0 100.0 6.0 4.2 5.2 RC FoforaBSR-21-RC-FFR-264 445254 1122032 431 120 270 VC4 including 95.0 96.0 1.0 0.7 19.9 Fofora VC4BSR-21-RC-FFR-265A 445233 1122032 428 105 270 -50 52.0 57.0 5.0 3.5 0.6 RC Fofora VC4 -55 31.0 39.0 8.0 5.6 0.7 RC FoforaBSR-21-RC-FFR-266 446652 1122917 366 72 50 Main and 58.0 60.0 2.0 1.4 2.2 Fofora Main -55 142.0 152.0 10.0 7.0 2.0 RC FoforaBSR-21-RC-FFR-267 446557 1122766 370 180 50 Main 149.0 150.0 1.0 0.7 12.4 Fofora Main -55 69.0 72.0 3.0 2.1 2.7 RC FoforaBSR-21-RC-FFR-268 446562 1122836 379 150 50 Main including 70.0 71.0 1.0 0.7 6.5 Fofora Main and 76.0 79.0 3.0 2.1 0.5 Fofora Main and 110.0 113.0 3.0 2.1 4.8 Fofora Main including 110.0 111.0 1.0 0.7 8.7 Fofora Main and 119.0 125.0 6.0 4.2 3.5 Fofora Main including 124.0 125.0 1.0 0.7 13.0 Fofora Main -55 26.0 28.0 2.0 1.4 2.2 RC FoforaBSR-21-RC-FFR-269 446487 1122895 375 122 50 Main and 88.0 92.0 4.0 2.8 2.5 Fofora Main including 89.0 90.0 1.0 0.7 8.0 Fofora Main -50 28.0 31.0 3.0 2.1 1.5 RC FoforaBSR-21-RC-FFR-270 446512 1122725 367 228 50 Main and 40.0 67.0 27.0 18.9 1.0 Fofora Main including 62.0 63.0 1.0 0.7 7.0 Fofora Main and 141.0 144.0 3.0 2.1 11.4 Fofora Main including 141.0 142.0 1.0 0.7 30.8 Fofora Main and 148.0 152.0 4.0 2.8 0.7 Fofora Main and 181.0 193.0 12.0 8.4 0.5 Fofora Main and 197.0 207.0 10.0 7.0 1.5 Fofora Main including 204.0 205.0 1.0 0.7 10.5 Fofora Main -55 143.0 148.0 5.0 3.5 1.5 RC FoforaBSR-21-RC-FFR-271 446451 1122862 382 186 50 Main and 152.0 158.0 6.0 4.2 0.4 Fofora Main and 165.0 168.0 3.0 2.1 1.6 Fofora Main -52 108.0 116.0 8.0 5.6 1.2 RC FoforaBSR-21-RC-FFR-272 446451 1122884 378 180 50 Main including 115.0 116.0 1.0 0.7 6.0 Fofora Main and 127.0 131.0 4.0 2.8 6.7 Fofora Main including 129.0 130.0 1.0 0.7 18.4 Fofora Main and 136.0 144.0 8.0 5.6 9.9 Fofora Main including 142.0 144.0 2.0 1.4 34.3 Fofora Main -53 36.0 37.0 1.0 0.7 5.0 RC FoforaBSR-21-RC-FFR-273 446628 1122889 369 96 45 Main and 38.0 40.0 2.0 1.4 4.3 Fofora Main and 68.0 70.0 2.0 1.4 3.4 Fofora Main and 86.0 94.0 8.0 5.6 3.8 Fofora Main including 89.0 91.0 2.0 1.4 11.2 Fofora Main -55 25.0 29.0 4.0 2.8 1.3 RC FoforaBSR-21-RC-FFR-274 446587 1122860 359 125 50 Main and 37.0 40.0 3.0 2.1 8.3 Fofora Main including 38.0 39.0 1.0 0.7 15.5 Fofora Main and 76.0 87.0 11.0 7.7 0.7 Fofora Main and 95.0 102.0 7.0 4.9 5.9 Fofora Main including 99.0 100.0 1.0 0.7 34.5 Fofora MainBSR-21-RC-FFR-275 446395 1122950 379 162 90 -50 100.0 102.0 2.0 1.4 3.2 RC Fofora Main -55 63.0 66.0 3.0 2.1 0.9 RC FoforaBSR-21-RC-FFR-277 446501 1122785 383 190 50 Main and 129.0 132.0 3.0 2.1 2.6 Fofora Main and 166.0 168.0 2.0 1.4 4.3 Fofora Main and 185.0 190.0 5.0 3.5 5.2 Fofora Main including 186.0 188.0 2.0 1.4 9.6 Fofora Main -50 13.0 15.0 2.0 1.4 0.4 FoforaBSR-21-RC-FFR-278 445865 1122552 406 42 68 VC2 and 33.0 37.0 4.0 2.8 0.8 Fofora VC2BSR-21-RC-FFR-279 445903 1122445 409 48 68 -50 1.0 13.0 12.0 8.4 1.0 RC Fofora VC2 -50 33.0 35.0 2.0 1.4 1.3 RC FoforaBSR-21-RC-FFR-281 445782 1122515 429 159 68 VC2 and 45.0 49.0 4.0 2.8 1.2 Fofora VC2 and 112.0 119.0 7.0 4.9 0.3 Fofora VC2 -50 21.0 23.0 2.0 1.4 2.5 RC FoforaBSR-21-RC-FFR-282 445869 1122430 417 96 68 VC2 and 40.0 52.0 12.0 8.4 1.2 Fofora VC2 and 65.0 76.0 11.0 7.7 0.4 Fofora VC2 -50 16.0 24.0 8.0 5.6 0.7 RC FoforaBSR-21-RC-FFR-283 445892 1122381 415 84 68 VC2 and 28.0 41.0 13.0 9.1 0.9 Fofora VC2 and 63.0 67.0 4.0 2.8 1.1 Fofora VC2BSR-21-RC-FFR-284 445951 1122354 401 38 68 -50 29.0 38.0 9.0 6.3 0.5 RC Fofora VC2 -50 34.0 36.0 2.0 1.4 5.1 RC FoforaBSR-21-RC-FFR-285 445911 1122336 411 93 68 VC2 including 34.0 35.0 1.0 0.7 9.7 Fofora VC2 and 53.0 58.0 5.0 3.5 0.4 Fofora VC2 and 62.0 69.0 7.0 4.9 1.2 Fofora VC2 -50 30.0 35.0 5.0 3.5 0.3 RC FoforaBSR-21-RC-FFR-286 445879 1122322 411 144 68 VC2 and 90.0 111.0 21.0 14.7 0.5 Fofora VC2 and 128.0 132.0 4.0 2.8 1.8 Fofora VC2 and 139.0 144.0 5.0 3.5 1.3 Fofora VC2 including 140.0 141.0 1.0 0.7 5.2 Fofora VC2 -50 25.0 33.0 8.0 5.6 0.6 RC FoforaBSR-21-RC-FFR-287 445937 1122300 402 96 68 VC2 and 36.0 37.0 1.0 0.7 2.3 Fofora VC2 and 40.0 57.0 17.0 11.9 0.5 Fofora VC2 and 64.0 70.0 6.0 4.2 0.6 Fofora VC2BSR-21-RC-FFR-289 445207 1120402 396 142 250 -50 60.0 62.0 2.0 1.4 1.1 RC Fofora VC5BSR-21-RC-FFR-292 445054 1120566 400 75 250 -50 49.0 51.0 2.0 1.4 1.4 RC Fofora VC5BSR-21-RC-FFR-293 445142 1120594 390 153 250 -50 118.0 119.0 1.0 0.7 9.9 RC Fofora VC5BSR-21-RC-FFR-295 445160 1120297 376 72 250 -50 28.0 29.0 1.0 0.7 1.4 RC Fofora VC5BSR-21-RC-FFR-296 445240 1120319 394 132 250 -50 88.0 90.0 2.0 1.4 1.1 RC Fofora VC5 BSR-21-RC-069 445841 1111172 437 114.0 90 -50 73.0 75.0 2.0 1.4 3.4 RC Galgouli RegionalBSR-21-RC-070 445840 1111257 429 108.0 90 -50 25.0 32.0 7.0 4.9 0.5 RC Galgouli RegionalBSR-21-RC-071 445888 1111257 438 102.0 90 -50 76.0 77.0 1.0 0.7 6.0 RC Galgouli Regional -50 125.0 131.0 6.0 4.2 5.6 RC GalgouliBSR-21-RC-074 449160 1107488 394 174.0 60 Regional including 126.0 127.0 1.0 0.7 20.0 RC Galgouli Regional -50 15.0 16.0 1.0 0.7 1.2 RC GalgouliBSR-21-RC-076 448540 1107036 390 108.0 80 Regional and 48.0 51.0 3.0 2.1 4.7 Galgouli Regional including 48.0 49.0 1.0 0.7 12.0 Galgouli Regional -50 44.0 45.0 1.0 0.7 18.1 RC GalgouliBSR-21-RC-077 448576 1106986 399 105.0 85 Regional and 53.0 55.0 2.0 1.4 7.8 Galgouli Regional including 53.0 54.0 1.0 0.7 15.3 Galgouli Regional -50 22.0 23.0 1.0 0.7 1.9 RC GalgouliBSR-21-RC-083 449722 1107900 420 120.0 320 Regional and 35.0 38.0 3.0 2.1 0.5 Galgouli Regional -50 94.0 100.0 6.0 4.2 5.0 RC GalgouliBSR-21-RC-084 449707 1107837 455 155.0 320 Regional including 95.0 96.0 1.0 0.7 12.0 Galgouli Regional including 97.0 99.0 2.0 1.4 8.5 Galgouli Regional -50 34.0 35.0 1.0 0.7 1.8 RC GalgouliBSR-21-RC-085 449564 1107794 439 132.0 320 Regional and 42.0 43.0 1.0 0.7 0.9 Galgouli Regional and 70.0 72.0 2.0 1.4 4.7 Galgouli Regional including 71.0 72.0 1.0 0.7 8.6 Galgouli Regional and 123.0 124.0 1.0 0.7 2.8 Galgouli Regional -50 75.0 78.0 3.0 2.1 4.5 RC GalgouliBSR-21-RC-086 449607 1107756 440 150.0 320 Regional including 75.0 77.0 2.0 1.4 6.4 Galgouli RegionalBSR-21-RC-087 449307 1107525 403 81.0 320 -50 2.0 9.0 7.0 4.9 0.3 RC Galgouli Regional -50 139.0 142.0 3.0 2.1 7.2 RC GalgouliBSR-21-RC-088 449351 1107484 401 156.0 320 Regional including 140.0 141.0 1.0 0.7 15.9 RC Galgouli RegionalBSR-21-RC-089 447844 1110061 397 110.0 60 -50 47.0 50.0 3.0 2.1 1.5 RC Galgouli Regional -50 21.0 26.0 5.0 3.5 0.3 RC GalgouliBSR-21-RC-090 447803 1110042 396 114.0 60 Regional and 33.0 38.0 5.0 3.5 0.4 Galgouli Regional and 56.0 64.0 8.0 5.6 0.7 Galgouli RegionalBSR-21-RC-095 447794 1109913 397 120.0 60 -50 9.0 10.0 1.0 0.7 2.8 RC Galgouli Regional -50 100.0 102.0 2.0 1.4 22.2 RC GalgouliBSR-21-RC-096 449290 1107423 400 156.0 320 Regional and 100.0 101.0 1.0 0.7 44.0 Galgouli Regional -50 129.0 131.0 2.0 1.4 10.9 RC GalgouliBSR-21-RC-098 448500 1107003 393 132.0 60 Regional including 129.0 130.0 1.0 0.7 21.4 Galgouli Regional -50 42.0 45.0 3.0 2.1 5.2 RC GalgouliBSR-21-RC-099 448566 1106997 398 102.0 60 Regional including 42.0 43.0 1.0 0.7 15.0 Galgouli RegionalBSR-21-RC-100 448548 1106951 390 130.0 59 -50 78.0 83.0 5.0 3.5 1.6 RC Galgouli RegionalBSR-21-RC-103 448606 1106944 403 78.0 60 -50 72.0 73.0 1.0 0.7 1.7 RC Galgouli Regional -50 38.0 40.0 2.0 1.4 1.1 RC GalgouliBSR-21-RC-105 449280 1107498 404 102.0 320 Regional and 81.0 82.0 1.0 0.7 21.1 Galgouli Regional -50 57.0 58.0 1.0 0.7 1.1 RC GalgouliBSR-21-RC-106 449408 1107510 398 156.0 320 Regional and 121.0 122.0 1.0 0.7 1.3 Galgouli Regional -50 10.0 15.0 5.0 3.5 1.1 RC GalgouliBSR-21-RC-107 447875 1110035 404 102.0 320 Regional and 62.0 66.0 4.0 2.8 0.6 Galgouli Regional -50 53.0 60.0 7.0 4.9 0.5 RC GalgouliBSR-21-RC-108 447890 1110012 395 114.0 320 Regional and 142.0 145.0 3.0 2.1 1.7 RC Galgouli Regional -50 38.0 39.0 1.0 0.7 1.9 GalgouliBSR-21-RC-109 449667 1107788 440 160.0 320 Regional and 42.0 47.0 5.0 3.5 5.7 RC Galgouli Regional including 43.0 44.0 1.0 0.7 21.2 Galgouli Regional and 61.0 62.0 1.0 0.7 1.1 Galgouli Regional and 66.0 71.0 5.0 3.5 7.0 Galgouli Regional including 66.0 67.0 1.0 0.7 13.5 Galgouli Regional including 68.0 69.0 1.0 0.7 15.6 Galgouli RegionalBSR-21-RC-111 449517 1107752 440 102.0 320 -50 95.0 96.0 1.0 0.7 2.1 RC Galgouli Regional -50 113.0 114.0 1.0 0.7 1.9 RC GalgouliBSR-21-RC-114 449641 1107708 453 150.0 320 Regional and 128.0 130.0 2.0 1.4 1.8 Galgouli RegionalBSR-21-RC-116 449742 1107794 446 210.0 320 -50 127.0 138.0 11.0 7.7 0.8 RC Galgouli Regional -50 24.0 26.0 2.0 1.4 1.4 RC GalgouliBSR-21-RC-121 449264 1107459 393 123.0 320 Regional and 78.0 88.0 10.0 7.0 1.0 Galgouli RegionalBSR-21-RC-122 449321 1107444 390 150.0 320 -50 51.0 52.0 1.0 0.7 3.4 RC Galgouli Regional -50 15.0 16.0 1.0 0.7 1.3 RC GalgouliBSR-21-RC-125 446972 1119870 357 102.0 55 Regional and 24.0 29.0 5.0 3.5 12.9 Galgouli Regional including 25.0 26.0 1.0 0.7 60.6 Galgouli Regional and 57.0 64.0 7.0 4.9 2.5 Galgouli Regional including 63.0 64.0 1.0 0.7 11.7 Galgouli Regional and 82.0 88.0 6.0 4.2 0.4 Galgouli Regional -50 18.0 23.0 5.0 3.5 0.5 RC GalgouliBSR-21-RC-126 447009 1119819 360 104.0 55 Regional and 76.0 81.0 5.0 3.5 0.5 Galgouli Regional

Notes:1. UTM coordinate system WGS84 29N2. NSI: No Significant Intersect

Forward-looking Statements

This news release contains forward-looking statements which constitute forward-looking information within the meaning of applicable Canadian securities legislation and forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (collectively, Forward-looking Statements). All statements included herein, 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 anticipated exploration and other development programs at the Sgula Project and the Boussoura Project together with the nature, implementation and timing thereof, the exploration and metallurgical results of such programs; the anticipated timing and results of exploration drilling and assays; the proposed timeline and benefits of further drilling; the Companys plans for its mines and mineral properties; the Companys business strategy, plans and outlook; the merit of the Companys mines and mineral properties; mineral resource and reserve estimates; the Companys ability to convert inferred mineral resources to indicated mineral resources and to convert mineral resources to mineral reserves; timelines; production at the mines; the future financial or operating performance of the Company; the effects of laws, regulations and government policies affecting our operations or potential future operations; future successful development of our projects; the estimates of expected or anticipated economic returns from the Companys mining operations including future sales of metals, dor and concentrate or other products produced by the Company and the Companys ability to achieve its production and cost guidance; capital expenditures at the Companys operations; estimated brownfields expenditures in 2021; the success of the Companys exploration activities at its mines and development projects; the duration and impacts of COVID-19 on the Companys production, workforce, business, operations and financial condition; metal price estimates, estimated metal grades in 2021; approvals and other matters. Often, but not always, these Forward-looking Statements can be identified by the use of words such as estimated, potential, open, future, assumed, projected, used, detailed, has been, gain, planned, reflecting, will, anticipated, estimated containing, remaining, to be, or statements that events, could or should occur or be achieved and similar expressions, including negative variations.

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 impact of the COVID-19 pandemic on the Companys mining operations and construction activities; the duration and impacts of COVID-19 on the Companys 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; uncertainties related to the impacts of COVID-19 which may include: changing market conditions, changing restrictions on the mining industry in the countries in which the Company operates, the ability to operate as a result of government imposed restrictions, including restrictions on travel, the transportation of concentrates and dor, access to refineries, the impact of additional waves of the pandemic or increases of incidents of COVID-19 in the countries in which we operate; the duration of any suspension of operations at the Companys mines as a result of COVID-19 which may affect production and the Company business operations and financial condition; changes in prices for gold, silver and other metals; changes in the prices of key supplies; technological and operational hazards in Fortunas 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; fluctuations in currencies and exchange rates; the imposition of capital control in countries in which the Company operates; labor relations issues; as well as those factors discussed under Risk Factors 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.

Forward-looking Statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to the presence of continuity of and metals at the Sgula Project and the Boussoura Project at estimated grades; the accuracy of the Companys current mineral resource and reserve estimates and the assumptions upon which they are based; ore grades and recoveries; prices for silver, gold and base metals remaining as estimated; currency exchange rates remaining as estimated; capital, decommissioning and reclamation estimates; prices for energy, labour, materials and supplies, transport and services; that the Companys activities will be in accordance with the Companys public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; the duration and impacts of COVID-19 on the Companys 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; government mandates in Peru, Mexico and Argentina with respect to mining operations generally or auxiliary businesses or services required for the Companys operations; government and the Companys attempts to reduce the spread of COVID-19 which may affect many aspects of the Companys operations, including transportation of personnel to and from site, contractor and supplier availability and the ability to sell or deliver concentrate and dor; the expected trends in mineral prices and currency exchange rates; that the Companys activities will be in accordance with the Companys public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained for the Companys business and operations; 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.