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Fortuna files early warning report Toronto Stock Exchange: FVI

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VANCOUVER, British Columbia, Oct 16, 2020 (GLOBE NEWSWIRE) – FOrtuna silver mines Inc. (NYSE: FSM) (TSX: FVI) announces that on October 16, 2020, common share purchase warrants (the warrants) authorizing Fortuna to purchase up to 1,079,700 common shares of Medgold Resources Corp. (Medgold), of 200 Burrard Street, Suite 650, Vancouver, BC V6C 3L6, at a price of Cdn $ 0.40 per common share has expired unexercised. Prior to the expiration of these warrants, Fortuna owned and controlled 21,079,700 common shares and 1,079,700 warrants.

Immediately after the expiration of the warrants, Fortuna owns and controls 21,079,700 common shares of Medgold, representing 15.64% of the issued and outstanding common shares of Medgold, and does not hold any warrants. The expiration of the warrants resulted in a change in ownership greater than 2%, and therefore the filing of an updated early warning report previously filed.

Fortuna has previously acquired common shares of Medgold for investment purposes and, depending on market and other conditions, may from time to time in the future increase or decrease its ownership, control or direction over the securities of Medgold through market transactions, private agreements or otherwise. . Fortuna deposited on www.sedar.com a report in accordance with NI 62-103 and a copy of the report can be obtained by contacting Sally Whittall, Corporate Secretary of Fortunas, at +1.604.484.4085.

About Fortuna Silver Mines Inc.

Fortuna Silver Mines Inc. is a Canadian precious metals mining company with operations in Peru, Mexico and Argentina. Sustainability is an integral part of all of our operations and relationships. We produce silver and gold and generate long-term shared value for our shareholders and stakeholders through efficient production, environmental protection and social responsibility. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge A. Ganoza
President, Chief Executive Officer and Director
Fortuna Silver Mines Inc.

Investor Relations:
Carlos baca | T (Peru): +51.1.616.6060, ext. 0

Forward-looking statements

This press release contains forward-looking statements that constitute forward-looking information within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (collectively, 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 that could cause actual events or results to differ materially from those reflected in the forward-looking statements. Forward-looking statements contained in this press release may include, without limitation, statements regarding the possible future acquisition or disposal by the Company of Medgold securities. Often, but not always, these forward-looking statements can be identified by the use of words such as estimated, potential, open, future, assumed, intended, used, detailed, was, earn, planned, reflect, will, containing, remaining , to be, or statements that events, could or should occur or be realized and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any results, performance or achievements expressed or implied by the companies. forward-looking statements. These uncertainties and factors include, among others, whether the Company will acquire or dispose of any Medgold securities in the future; changes in general economic conditions and financial markets; the impact of COVID-19 pandemic on the company’s mining operations and constraction activities; the duration and impacts of COVID-19 on the production, workforce, business, operations and financial condition of the company, and risks associated with a global pandemic which, unless contained, could result in slower global economic growth; the duration of all the suspension of operations at the Companys mines and the Lindero project; the impact of the suspension of operations on production and business activities and the financial condition of the company; price changes for gold, silver and other metals; technological and operational risks in Fortunas’ mining and mining development activities; the risks inherent in mineral exploration; uncertainties inherent in estimating mineral reserves, mineral resources and metal recoveries; changes to current estimates of mineral reserves and resources; changes in production and cost estimates; government and other approvals; changes in government, political unrest or instability in the countries where Fortuna is active; labor relations issues; as well as the factors described in the Risk Factors section of the Company’s Annual Information Form. Although the company has attempted to identify material factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or or results differ from those expected, estimated or expected.

The forward-looking statements contained in this document are based on the assumptions, beliefs, expectations and opinions of management, including, but not limited to waitatcomments regarding the possible future acquisition or disposal by the Company of Medgold securities; expected trends in mineral prices and exchange rates; the accuracy of current estimates of the Company’s mineral resources and reserves; that the activities of the company will be in accordance with public statements and stated objectives of the company; that there will be no material adverse change affecting the company or its properties; and all other assumptions set out herein. Forward-looking statements are made as of the date hereof and the company disclaims any obligation to update any forward-looking statements, whether Consequently new information, future events or results or otherwise, except as required by law. There can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, investors should not place undue reliance on forward-looking statements.

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