Fortuna Mining Corp T.FVI

Drilling results

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Fortuna drills 7.3 m of 1789 g/t Ag and 10 g/t Au on northern extension of the San Jose mine, Mexico

Vancouver, April 22, 2013-- Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F) is pleased to report that exploration drilling has successfully extended the Trinidad ore shoot to the north and to depth with mineralization remaining open in both directions. Results are also reported for the initial infill drilling being carried out in the central portion of the Trinidad deposit for purposes of conversion of Inferred Mineral Resources to an Indicated Mineral Resource classification.

Jorge A. Ganoza, President and CEO, commented, “We are excited by the consistency of the discovery holes drilled north of Trinidad, where we are starting to configure a new wide and high grade silver and gold mineralized shoot that remains open on two directions. Grades and widths of mineralization found are significantly higher than the average grade of existing reserves and resources. Our exploration team is giving priority to defining the controls and extent of this new zone, located within reach of current underground mine development.”

Exploration Drilling Highlights:

Hole_Id	From (m)	To (m)	Interval (m)	Est. True Width (m)	Ag (g/t)	Au (g/t)	Ag Eq (g/t)
SJO-275	515.70	537.75	22.05	13.7	510	3.32	687
SJO-276	448.95	465.35	16.40	12.3	520	3.69	717
SJO-279	501.70	513.75	12.05	7.4	406	1.75	499
SJO-283	556.20	569.20	13.00	7.3	1789	10.10	2328

 

Infill Drilling Highlights:

Hole_Id	From (m)	To (m)	Interval (m)	Est. True Width (m)	Ag (g/t)	Au (g/t)	Ag Eq (g/t)
SJOM-271	139.40	194.00	54.60	47.1	199	1.73	292
SJOM-277	161.45	200.80	39.35	27.2	393	2.86	546
and	215.90	236.18	20.28	14.6	471	3.13	638
SJOM-280	154.25	173.90	19.65	11.0	889	8.01	1316
and	208.50	233.15	24.65	15.2	236	2.06	346
and	245.75	258.00	12.25	7.5	447	2.54	583
SJOM-284	161.55	180.00	18.45	12.5	170	1.28	238
and	184.45	195.20	10.75	7.3	120	1.02	174
and	200.85	207.05	6.20	4.0	380	2.64	521

 

Dr. Thomas I. Vehrs, VP of Exploration, commented, “Exploration drilling on the northern extension of the Trinidad deposit at the San Jose mine has confirmed the presence of high-grade silver and gold mineralization over wide vein widths. Drill hole SJO-283 intercepted strong mineralization at the 1010 meter elevation (approximately 520 meters below surface) and the mineralization remains open to the north and to depth.”

Dr. Vehrs continued, “In addition to the continuation of the surface drilling, underground access is being developed to allow for the expansion of the exploration drilling to the north and to better test the extension of the mineralization to depth. The infill drilling being conducted in the central portion of the Trinidad deposit is also producing excellent results, with a number of drill holes reporting wide intervals of silver and gold mineralization associated with broad zones of crackle breccia and quartz-calcite vein stockworking. While these drill holes are largely consistent with prior wide spaced drill results, upgrading of the Inferred Resources will provide opportunity for incorporation of these materials into the Mineral Reserve category and the new mine plan update scheduled for the fourth quarter of this year.”

Full assay results for the principal mineralized intervals in the fourteen drill holes completed in the first quarter of 2013 are appended to this news release. Please see link to Bonanza Vein longitudinal section for location of 2013 drill results relative to existing reserves and resources: https://www.fortunasilver.com/i/maps/sanjose/Bonanza-Vein-Longitudinal-Section_Apr2013.pdf.

Quality Assurance & Quality Control

Following detailed geological and geotechnical logging, drill core samples are split on-site by diamond sawing. One half of the core is submitted to the ALS Chemex Laboratory in Guadalajara, Mexico. The remaining half core is retained on-site for verification and reference purposes. Following preparation, the samples are assayed for gold and silver by standard fire assay methods and for silver and base metals by ICP and atomic absorption methods utilizing aqua regia digestion. The QA-QC program includes the blind insertion of certified reference standards and assay blanks at a frequency of approximately 1 per 15 normal samples as well as the inclusion of duplicate samples for verification of sampling and assay precision levels.

Qualified Person

Thomas I. Vehrs, Ph.D., Vice President of Exploration, is a Qualified Person for Fortuna Silver Mines Inc. as defined by National Instrument 43-101. Dr. Vehrs is a Founding Registered Member of the Society for Mining, Metallurgy, and Exploration, Inc. (SME Registered Member Number 3323430RM) and is responsible for ensuring that the information contained in this news release is an accurate summary of the original reports and data provided to or developed by Fortuna Silver Mines.

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 southern Peru and the San Jose silver-gold mine in Mexico. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.


ON BEHALF OF THE BOARD

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

Trading symbols: NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F

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