Fortuna Reports Record Silver Production of 953,091 Ounces and 5,137 Ounces of Gold for First Quarter 2012

Fortuna Silver Mines Inc. FSM announces production figures for the first quarter of 2012 from its two operating mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru. Both mines are performing above planned production levels and the Company is on schedule to deliver 3.7 million ounces of silver and 17,400 ounces of gold or 4.6 million ounces of silver equivalent plus significant base metal by-product in 2012. First Quarter Production Highlights Silver production of 953,091 ounces; 4.3% increase over Q4 2011 Gold production of 5,137 ounces; 23.7% increase over Q4 2011 Lead production of 4,443,367 pounds; 1.1% increase over Q4 2011 Zinc production of 5,320,639 pounds; 6.5% decrease over Q4 2011 Mr. Jorge Ganoza, President & CEO, commented: "We are extremely pleased that our mines continue to operate well within plans, resulting in these record production figures. Not only are we on target to meet our annual guidance, we are also seeing opportunities for higher silver and gold resource and reserve grades in the lower levels of the San Jose mine. We are working to incorporate reconciliation of these higher grades into our resource models by mid-year."