GlobeNewswire
Fortuna reports 2020 full year production of 11.3 million silver equivalent ounces and issues 2021 guidance
VANCOUVER, British Columbia, Jan. 19, 2021 (GLOBE NEWSWIRE) — Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports production results for the fourth quarter and full year 2020 from its three operating mines in Latin America, the San Jose Mine in Mexico, the Caylloma Mine in Peru, and the Lindero Mine in Argentina. For the full year 2020, the Company produced 7,133,717 ounces of silver and 55,349 ounces of gold or 11.3 million silver equivalent1 ounces. The Company withdrew its production and cost guidance for 2020 in early April due to the COVID-19 pandemic and the temporary shutdown of operations mandated by governments in Mexico and Argentina (refer to Fortuna news release dated April 2, 2020). Due to the uncertainties related to the impact caused by COVID-19 constraints on Fortuna’s business and operations, the Company chose not to issue a revised guidance when operations and activities re-started in Mexico and Argentina. 2020 Consolidated Production Highlights Silver production of 7,133,717 ounces; 19 percent decrease over 2019Gold production of 55,349 ounces; 10 percent increase over 2019Lead production of 29,627,923 pounds; 3 percent increase over 2019Zinc production of 45,545,299 pounds; in line with 2019Cash cost2 for San Jose is US$69.4/tCash cost2 for Caylloma is US$81.8/t 2021 Consolidated Production Guidance Highlights Gold production of between 178 to 202 thousand ounces; a projected increase of between 322 to 365 percent over 2020Silver production of between 6.8 to 7.6 million ounces; a projected decrease of 5 percent over 2020 to a projected increase of 7 percent over 2020Gold equivalent1 production of between 267 to 302 thousand ounces; a projected increase of between 79 to 103 percent over 2020 2020 Consolidated Operating Highlights Fourth Quarter 2020Full Year 2020 Caylloma, PeruSan Jose, MexicoLindero, ArgentinaConsolidatedCaylloma6, PeruSan Jose7, MexicoLindero8, ArgentinaConsolidatedOPERATIONAL FIGURES Tonnes milled136,132272,179–510,047934,381–Average tpd milled1,5303,024–1,4332,647–Ore placed on pad3
