Fortuna announces updated Technical Report for the Yaramoko Mine, Burkina Faso

Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc.

VANCOUVER, British Columbia, March 30, 2022 (GLOBE NEWSWIRE) — Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is pleased to announce that it has prepared 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 Technical Report will be available on the Company’s website, on SEDAR and on EDGAR.

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.

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 a fifth mine under construction in Côte d’Ivoire. Sustainability is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our stakeholders through efficient production, environmental protection, and social responsibility. For more information, please visit our website.


Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.

Investor Relations:
Carlos Baca |

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 Company’s filing of an updated technical report for the Yaramoko gold mine in Burkina Faso, plans for the development of an open pit mine at the Zone 55 upon completion of the Zone 55 underground mine; the timing of the commencement of the construction of the open pit mine at Zone 55; the Company’s business strategy, plans and outlook; the merit of the Company’s mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; 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”, “containing”, “remaining”, “to be”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.

Forward looking Statements…

Read More: Fortuna announces updated Technical Report for the Yaramoko Mine, Burkina Faso

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