Fortuna Reports Silver Production Increase of 31% for 2011
and Issues
Production Guidance for 2012
Vancouver, January 26, 2012-- Fortuna Silver Mines Inc.
(NYSE: FSM | TSX: FVI | BVL: FVI) is pleased to
announce 2011 production figures from the San Jose Mine
located in Mexico and the Caylloma Mine located in Peru. The
mining operations of the Company performed strongly in 2011
delivering our fifth consecutive year of silver production
growth and sustained low cash cost per silver ounce. For
2012, Fortuna is scheduled to produce 3.7 million ounces of
silver and 17,400 ounces of gold production or 4.6 million Ag
Eq ounces plus base metal credits.
Mr. Jorge Ganoza, President and CEO, commented: "2011 was
marked by two milestones for the Company, our NYSE listing on
September 19th and the start of commercial
operations on September 1st at our San Jose Mine
in Mexico. The San Jose Mine initiated operations at a rate
of 1,000 tonnes per day and for 2012 we have an approved plan
and budget to expand capacity to 1,500 tpd. This expansion
will continue fueling our low cost annual silver production
growth into 2012 and 2013."
2011 Consolidated Production Highlights