Fortuna Silver Mines Inc. provided an update on its exploration programs at the Séguéla Mine in Côte d?Ivoire and the recently acquired Diamba Sud Gold Project in Senegal. Exploration program highlights: Séguéla Mine, Côte d?Ivoire: Kingfisher prospect: SGRD1724: 5.2 g/t Au over an estimated true width of 8.4 meters from 98 meters, including 14.8 g/t Au over an estimated true width of 2.1 meters from 100 meters; SGRC1728: 1.9 g/t Au over an estimated true width of 17.5 meters from 41 meters; SGRC1762: 2.9 g/t Au over an estimated true width of 19.6 meters from 106 meters; SGRC1763: 2.9 g/t Au over an estimated true width of 16.1 meters from 136 meters; SGRC1764: 2.4 g/t Au over an estimated true width of 16.8 meters from 125 meters, including 19.2 g/t Au over an estimated true width of 1.4 meters from 147 meters. Koula deposit: SGRD1781: 20.3 g/t Au over an estimated true width of 2.1 meters from 110 meters; SGRD1783: 22.5 g/t Au over an estimated true width of 9.8 meters from 208 meters, including68.0; g/t Au over an estimated true width of 2.1 meters from 215 meters, and 40.7 g/t Au over an estimated true width of 1.4 meters from 220 meters SGRD1784: 4.9 g/t Au over an estimated true width of 7.7 meters from 268 meters, including33.7 g/t Au over an estimated true width of 0.7 meters from 276 meters; SGRD1806: 11.6 g/t Au over an estimated true width of 2.8 meters from 36 meters.

Diamba Sud Gold Project, Senegal: Area A: DSR515: 3.5 g/t Au over an estimated true width of 23.4 meters from 74 meters; DSDD140: 6.2 g/t Au over an estimated true width of 11.2 meters from 126.6 meters. Area D: DSDD163: 6.0 g/t Au over an estimated true width of 32.0 meters from 7 meters, including 39.4 g/t Au over an estimated true width of 2.2 meters from 31 meters. DSDD173: 3.5 g/t Au over an estimated true width of 44.8 meters from 8 meters.

DSDD176: 4.4 g/t Au over an estimated true width of 15.6 meters from 36 meters, including20.6 g/t Au over an estimated true width of 2.4 meters from 38 meters. DSDD196: 6.3 g/t Au over an estimated true width of 18.4 meters from 3 meters, including 20.9 g/t Au over an estimated true width of 1.6 meters from 16 meters. DSDD206: 4.6 g/t Au over an estimated true width of 19.0 meters from 48 meters, including70.7 g/t Au over an estimated true width of 0.8 meters from 63 meters.

Karakara: DSDD205: 2.0 g/t Au over an estimated true width of 6.8 meters from 20 meters, and5.2 g/t Au over an estimated true width of 14.4 meters from 74 meters; DSDD207: 8.5 g/t Au over an estimated true width of 9 meters from 79 meters, including36.2 g/t Au over an estimated true width of 1.5 meters from 80 meters; DSR541: 4.2 g/t Au over an estimated true width of 12.8 meters from 92 meters; DSR546: 2.8 g/t Au over an estimated true width of 14.3 meters from 79 meters, and4.5 g/t Au over an estimated true width of 11.3 meters from 117 meters. Moungoundi: DSR551: 2.1 g/t Au over an estimated true width of 20.3 meters from 31 meters; DSR558: 5.4 g/t Au over an estimated true width of 6.8 meters from 88 meters; DSR563: 2.7 g/t Au over an estimated true width of 14.2 meters from 45 meters; DSR568: 30.7 g/t Au over an estimated true width of 11.3 meters from 46 meters, including146.0 g/t Au over an estimated true width of 2.25 meters from 46 meters. Kassasoko: DSR604: 1.5 g/t Au over an estimated true width of 11.3 meters from 29 meters.

Western Splay: DSR584: 2.1 g/t Au over an estimated true width of 13.5 meters from 17 meters; DSR598: 7.4 g/t Au over an estimated true width of 7.5 meters from 56 meters, including 19.6 g/t Au over an estimated true width of 1.5 meters from 61 meters. Séguéla Mine, Côte d?Ivoire: Kingfisher prospect: A 2,040-meter, 20-hole program was completed at the newly discovered Kingfisher prospect identifying three lodes along a 1.9-kilometer strike, all of which remain open along strike and at depth. Results include drill hole SGRC1762 intersecting 2.9 g/t Au over an estimated true width of 19.6 meters from 106 meters downhole, and drill hole SGRC1763 intersecting 2.9 g/t Au over an estimated true width of 16.1 meters from 136 meters downhole.

The Kingfisher prospect is hosted in a set of quartz veins along a moderately sheared contact between a series of basalt-dolerite units which also hosts the Boulder and Agouti deposits, one and three kilometers, respectively, to the north, with a steep easterly dip consistent with the majority of other deposits at Séguéla. Additional drilling at Kingfisher is scheduled in the second quarter of 2024 to further test its strike and depth potential. Diamba Sud Gold Project, Senegal The Diamba Sud Gold Project?s initial 10,945-meter, three-drill rig drilling program, started on October 8, 2023 and was extended into the 2024 budget of $9.2 million which consists of a 42,700 meter RC and diamond drilling campaign.

The current program has seen the completion of 181 drill holes totaling 23,170 meters since December 2023. The objectives of the 2024 drilling program are to: Conduct selected confirmatory drilling to improve resource confidence at Area A, Area D, and Karakara. Drill to test for extensions to the existing historic resource in support of project development and advancing further economic studies.

Advance prospective areas such as Moungoundi, Kassasoko, Western Splay, Area A North, and others. Improve understanding of key geological controls including controlling structures, favorable lithologies, alteration, and secondary enrichment zones. Drilling continues at Diamba Sud focusing on growing the project?s historic resource base through testing satellite areas and other anomalies with limited previous drilling.

In addition, drilling is continuing to delineate extensions to high-grade lodes extending beyond the historic pit optimization shells at Area A, Area D, and Karakara. Highlights of recent drilling at Area A and Area D include several areas where mineralization has extended beyond the historic pit optimization shells. Further drilling is planned to determine the full extent of the mineralization and the relationship with key structures and lithologies.

In addition, infill drilling to support resource confidence has intersected several broad zones of mineralization in areas of previous low confidence, as demonstrated by drill hole DSDD176 at Area D intersecting the following estimated true width intervals: 1.0 g/t Au over 15.2 meters from 10 meters, and 4.4 g/t Au over 15.6 meters from 36 meters, and 1.0 g/t Au over 10.2 meters from 81 meters, and 1.6 g/t Au over 8.6 meters from 111 meters.