Fortuna Silver Mines Inc. (fka FVITF)

[Pro-Life]

Fortuna Silver Reports Record First-Quarter Silver, Gold Production
Tuesday, April 17, 2012 2:46 PM

http://www.kitco.com/reports/KitcoNews20120417_MM.html

Fortuna Silver Mines Inc. (NYSE: FSM)(TSX: FVI)(BVL: FVI) says that the company reached record silver and gold first-quarter production from its San Jose Mine in Mexico and its Caylloma Mine in Peru. Silver production totaled 953,091 ounces in the quarter, a 4.3% increase compared to the fourth quarter of 2011 while gold production increased to 5,137 ounces, a rise of 23.7% compared to the fourth quarter of 2011, the company says. “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, says Jorge Ganoza, president and chief executive officer of Fortuna. “We are working to incorporate reconciliation of these higher grades into our resource models by mid-year." The company also produced 4,443,367 pounds of lead, an increase of 1.1% compared to the fourth quarter of 2011, while zinc production fell to 5,320,639 pounds, a decrease of 6.5%, compared to the fourth quarter of 2011. A guidance of 3.7 million ounces of silver and 17,400 ounces of gold or 4.6 million ounces of silver equivalent is expected for 2012. Fortuna is a silver and base metal producer focused on mining in Latin America.

By Alex Létourneau of Kitco News; [e-mail]