Updated technical report for the Yaramoko Mine, Burkina Faso released

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Updated technical report for the Yaramoko Mine, Burkina Faso released

Fortuna Silver Mines Inc. has released an updated NI 43-101 Technical Report for its Yaramoko Gold Mine located in Burkina Faso entitled “Yaramoko Gold Mine, Burkina Faso Technical Report”, with an effective date of December 31, 2021 prepared by Paul Criddle, FAusIMM, Paul Weedon, MAIG, Matthew Cobb, MAIG, and Craig Richards, P.Eng.

The Yaramoko Gold Mine currently feeds mineralized material from two underground portals at the 55 Zone and Bagassi South mines, where long hole open stoping and cemented rock backfill is the mining method. Mined ore is fed to a conventional gold processing facility where the ore is crushed, milled and subject to carbon-in-leach extraction processes, prior to electrowinning and refining where gold is poured to doré bars.

Recent exploration drilling and a review of mine engineering designs in 2020 and 2021 supports the development of an open pit mine, at the completion of the 55 Zone underground mine, which includes the mining of near surface mineralization remaining in the crown pillar and remnant mineralization from earlier underground mining.

Open pit mining would only commence at the conclusion of underground mining due to the need to remove certain key surface infrastructure associated with the underground mine. The updated Technical Report will disclose the current Mineral Resources and Mineral Reserves reported as of December 31, 2021 and summarizes the scientific and technical evaluation that supports the current underground mine and proposed open pit operation.

Qualified Person

Eric Chapman, Senior Vice President of Technical Services of Fortuna, is a Professional Geoscientist of the Association of Professional Engineers and Geoscientists of the Province of 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.

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