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Fortuna discovers new high grade vein at Caylloma mine; Drilling intercepts 1.7 meters of 105 g/t Ag and 21 g/t Au

Exploration Drilling Highlights - Ramal Piso Carolina Vein

Hole_IdFrom
(m)
To
(m)
Int
(m)
Est. True
Width (m)
Ag
(g/t)
Au
(g/t)
Ag Eq
(g/t)
CARS003213143.45146.002.551.724712.60919
CARS00371359.0060.801.801.36661.90767
78.3082.554.253.31587.60563
CARS004613191.90196.004.102.41638.94640
CARS004813115.65117.301.651.31197.77533
CARS005013221.00221.650.650.49893.981,201
CARS005213243.20244.000.800.63913.95783
CARS005313248.50249.651.150.71,75918.282,735
CARS005513306.40308.852.451.710521.281,241
CARS005613202.35203.200.850.61,7591.771,853
211.30212.501.200.811712.00757
215.50216.701.200.843030.252,044

Exploration Drilling Highlights - Don Luis Vein

Hole_IdFrom
(m)
To
(m)
Int
(m)
Est. True
Width (m)
Ag
(g/t)
Au
(g/t)
Ag Eq
(g/t)
DLUS002413189.75191.451.701.51,2943.561,484
DLUS002613317.00319.802.801.39460.07950

Full assay results for the principal mineralized intervals in the forty-four drill holes completed at Caylloma in the first quarter of 2013 are appended to this news release. A location map and longitudinal sections for the Carolina, Ramal Piso Carolina and Don Luis veins are available at the following links:
http://www.fortunasilver.com/i/pdf/Caylloma_District_Plan_Map.pdf
http://www.fortunasilver.com/i/pdf/Caylloma_Longitudinal_Sections.pdf

Quality Assurance & Quality Control

Qualified Person

Fortuna Silver Mines Inc.

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.

Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.

Forward-Looking Statements

This news release contains forward-looking statements which constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. When used in this document, the words such as "anticipates", "believes", "plans", "estimates", "expects", "forecasts", "targets", "intends", "advance", "projects", "calculates" and similar expressions are forward-looking statements.

The forward-looking statements are based on an assumed set of economic conditions and courses of actions, including estimates of future production levels, expectations regarding mine production costs, expected trends in mineral prices and statements that describe Fortuna's future plans, objectives or goals. There is a significant risk that actual results will vary, perhaps materially, from results projected depending on such factors as changes in general economic conditions and financial markets, changes in prices for silver and other metals, technological and operational hazards in Fortuna's mining and mine development activities, risks inherent in mineral exploration, uncertainties inherent in the estimation of mineral reserves, mineral resources, and metal recoveries, the timing and availability of financing, governmental and other approvals, political unrest or instability in countries where Fortuna is active, labor relations and other risk factors.

Although Fortuna has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Assay Results for Principal Mineralized Intervals:

Please view here.

Contact:

Management Head Office: Carlos Baca- Telephone (Lima): +51.1.616.6060, ext. 0
Corporate Office: Holly Hendershot- Telephone (Toronto): +1.647.725.0813 / Telephone (Vancouver): +1.604.484.4085

Breakstone Group
Christina Pagano
Telephone: +1.212.213.2851
Mobile: +1.646.382.3871
E-mail: paganopr@aol.com

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