Fortuna beats guidance, reports record production of 5.2 million silver equivalent ounces for 2012 and issues production guidance for 2013

Tuesday, Jan 15, 2013

VANCOUVER, Jan. 14, 2013 /PRNewswire/ - Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) (BVL: FVI) (Frankfurt: F4S.F) is pleased to announce 2012 record silver and gold production figures from its San Jose mine located in Mexico and Caylloma mine located in Peru.

The company's mining operations performed strongly in 2012 delivering our sixth consecutive year of silver and gold production growth and sustained low cash cost per silver ounce. For 2013, Fortuna is scheduled to produce 4.4 million ounces of silver and 23,300 ounces of gold or 5.7 million Ag Eq ounces plus significant base metal credits.

Jorge A. Ganoza, President and CEO, commented: "2012 has been our sixth year of continued record silver and gold production growth highlighted by the first year anniversary of successful commercial operations at our San Jose mine.  For 2013, we continue to project sustained low cost silver and gold production expansion driven by the San Jose ramp-up to be commissioned in early Q3 2013. Fortuna´s strategic objective is to target an annual production rate of 14 million silver and gold equivalent ounces by 2016 while maintaining cash costs at its operations below industry average."

Fortuna Silver Mines Inc.

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America.  Our primary assets are the Caylloma silver mine in Arequipa, Peru and the San Jose silver-gold mine in Oaxaca, Mexico.  The company is selectively pursuing additional acquisition opportunities throughout the Americas.  For more information, please visit our website at www.fortunasilver.com.

SOURCE Fortuna Silver Mines Inc.