Resource World Magazine

mining Fortuna Silver Mines´ increasing low cost silver-gold production growth profile Since Vancouver-based Fortuna Silver Mines Inc. [FVI-TSX, FSM-NYSE] was established in 2005, the company has proven that it is an efficient mine builder and solid operator. Fortuna Silver operates two fully-owned, low-cost, underground silver mines: the San Jose silver and gold mine in Oaxaca, Mexico and the Caylloma silver-gold-lead-zinc mine in Arequipa, Peru. San Jose Mine Fortuna Silver acquired 100 % interest in the high-grade, lowsulfidation, silver and gold, epithermal, San Jose Mine in 2009 and began commercial production in September 2011 at a rate of 1,000 tonnes per day. On September 23, Fortuna Silver commissioned the mill expansion to 1,800 tonnes per day (tpd) from 1,150 tpd resulting in an increased mill capacity of 57%. The US $9 million expansion project was completed on time and on budget. The company reports that "the mine is scheduled to source fresh ore for 1,800 tpd throughput in November of this year." San Jose NI 43 101 compliant Mineral Resources and Mineral Reserves, which includes the Trinidad Discovery in the Inferred Resource category, estimated as of July 4, 2013: Contained Metal ClassificationTonnes Ag Au Ag Au (000) (g/t)(g/t) (Moz) (Koz) Proven & Probable Reserves Measured & Indicated Resources Inferred Resources 3,933 888 196 73 1.70 0.64 24.8 2.1 215.1 18.2 5,422 202 1.56 35.3 272.3 In June the company made the final US $6.0 million option payment, in total US$ 10 million, to purchase the remaining 45% interest in the Taviche Oeste Concession and now holds a 100% 46 www.resourceworld.com undivided interest in the Taviche Oeste concession which contains the Trinidad North discovery. Recent drill results from the Trinidad North discovery, located near current operations, indicate that the increased mill capacity will be put to good use confirming the presence of high-grade silver and gold mineralization over wide vein widths; silver grades range from 200 g/t to over 2,300 g/t over estimated true vein widths ranging from 2 metres to over 19 metres. Dr. Thomas I. Vehrs, Vice President of Exploration, commented, "Underground access is currently in development at the 1,300 metre level to allow for continued exploration of the ore shoot to the north and to depths below 1,000 metres amsl." Dr. Vehrs also commented, "Drill hole SJO-283 intercepted strong mineralization at the 1010-metre elevation (approximately 520 metres below surface); mineralization remains open to the north and to depth." Jorge Ganoza, President and CEO, said, "What is starting to emerge from this discovery is a new zone with consistent grades and thicknesses comparable with the best silver deposits in the world." Additional highlights from drilling in the Trinidad Zone include: Hole Id FromTo (m) (m) SJO-288 SJO-295 SJO-304 SJO-321 551.85 596.70 515.00 533.20 543.40 580.00 533.75 591.10 602.80 523.80 544.00 560.95 593.80 537.75 Interval (m) Est. True Width (m) Ag (g/t) Au (g/t) Ag Eq (g/t) 39.25 6.10 8.80 0.80 17.55 13.80 4.00 19.3 3.0 5.9 7.2 10.4 8.2 1.5 736 529 1,240 731 326 487 850 4.76 4.69 6.94 3.84 2.06 4.00 4.48 990 779 1,610 936 436 700 1,089 Plans call for initiating development of the high-grade, Ag-Au, Trinidad North discovery in 2014, with production expected to november 2013

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