2. Regulatory Disclaimer
2
Certain statements in this presentation constitute forward‐looking statements and as such
are based on an assumed set of economic conditions and courses of action. These include
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.
Thomas I. Vehrs, Ph.D., Vice President of Exploration, is the Qualified Person for Fortuna
Silver Mines Inc. as defined by National Instrument 43‐101. Dr. Vehrs is a Founding
Registered Member of The Society for Mining, Metallurgy, and Exploration, Inc. (SME
Registered Member Number 3323430RM) and is responsible for ensuring that the technical
information contained in this presentation is an accurate summary of the original reports
and data provided to or developed by Fortuna Silver Mines Inc.
4. Core Assets
4
Proven mine builders and strong operators in the Americas
Production
• Increasing Ag ‐ Au production profile
• Low cost silver producer
• Decreasing all‐in sustaining cash cost*:
Exploration
• Trinidad North high‐grade Ag‐Au discovery at
the San Jose Mine
• Over 95,000 ha of mining concessions
between Peru and Mexico
2013E 2014‐2016E
US$12.93/oz Ag
US$20.45/oz Ag
(*) All‐in cash cost figures are net of by‐product credits and are based on the guidelines from the World Gold Council
8. Trinidad North Discovery – San Jose Mine
8
Northernmost drill holes – Section 1847400N
• Banded ore textures indicate episodic
mineralizing events
• Consistently high‐grade over wide widths
• Robust mineralized system with strong
potential for lateral and vertical extensions
• Vertical extension of Trinidad system
exceeds 500 m ‐ open to depth
• Potential for discovery of additional
mineralized shoots along strike to north
19. 19
Proven mine developers and strong operators
• Increasing Ag – Au production profile
• Decreasing all‐in sustaining cash costs:
• 2013E = US$20.45/oz Ag
• 2014 – 2016E = US$12.93/oz Ag
Strong treasury
• US$48 M in cash (end of Q2 2013)
• US$40 M untapped credit facility
In line to meet 2013 production guidance
• 4.5 M oz Ag
• 23,600 oz Au
Brownfields exploration success
• Trinidad North high‐grade Ag‐Au discovery
at the San Jose Mine, Mexico
1
2
3
4
A leading silver mining company in the Americas
Investment Highlights
23. Appendix
23
Trinidad North discovery drilling highlights
Hole_Id
From To Interval Est. True Ag Au Ag Eq
(m) (m) (m)
Width
(m)
(g/t) (g/t) (g/t)
SJO-261
510.45 528.65 18.20 10.7 241 1.57 325
549.55 553.70 4.15 2.4 1,370 7.89 1,791
SJO-266
469.80 489.00 19.20 12.3 427 2.77 575
494.00 497.80 3.80 2.4 532 3.44 716
513.50 516.30 2.80 1.8 867 4.36 1,100
SJO-268 531.20 545.00 13.80 7.2 320 1.45 397
SJO-275 515.70 537.75 22.05 13.7 510 3.32 687
SJO-276 448.95 465.35 16.40 12.3 520 3.69 717
SJO-279 501.70 513.75 12.05 7.4 406 1.75 499
SJO-283 556.20 569.20 13.00 7.3 1,789 10.10 2,328
SJO-288
551.85 591.10 39.25 19.3 736 4.76 990
596.70 602.80 6.10 3.0 529 4.69 779
SJO-295
515.00 523.80 8.80 5.9 1,240 6.94 1,610
533.20 544.00 10.80 7.2 731 3.84 936
• Average grade and widths in
excess of those found in the San
Jose Mine reserves and
resources
• Estimated true widths of up to
19 meters
• Ag Eq values range to 2.3 kg/t
• Close proximity to existing
operation
• Mineralization open at depth
and to the north
Ag Eq values calculated at Au:Ag ratio of 53.37 based on Au price of US$1572.19 and
Ag price of US$29.46 and metallurgical recoveries of 89 % for both Au and Ag
24. Classification
Tonnes
(000)
Ag
(g/t)
Au
(g/t)
Contained Metal
Ag
(Moz)
Au
(koz)
Proven & Probable Reserves 3,335 190 1.58 20.4 169.5
Inferred Resources 4,257 185 1.57 25.3 214.9
Appendix
24
San Jose Mine NI 43 – 101 Reserves and Resources
Mineral Reserve and Mineral Resource estimates prepared in accordance with NI 43 ‐ 101:
• Mineral Reserves and Mineral Resources are as defined by the CIM Definition Standards on Mineral Resources
and Mineral Reserves
• Mineral Resources are exclusive of Mineral Reserves
• Measured and Indicated Resources exclusive of Mineral Reserves are not material and are not included in table
• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
• San Jose Mineral Resources & Mineral Reserves are reported as of December 31, 2012
• Refer to www.fortunasilver.com for full disclosure
25. Appendix
25
Caylloma Mine NI 43 – 101 Reserves and Resources
Classification
Tonnes
(000)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Contained Metal
Ag
(Moz)
Au
(koz)
Proven & Probable Reserves 4,308 130 0.37 1.52 2.15 17.9 51.1
Measured & Indicated Resources 1,601 79 0.33 0.79 1.43 4.1 17.0
Inferred Resources 6,633 101 0.27 1.84 2.58 21.5 58.5
Mineral Reserve and Mineral Resource estimates prepared in accordance with NI 43 ‐ 101:
• Mineral Reserves and Mineral Resources are as defined by the CIM Definition Standards on Mineral Resources
and Mineral Reserves
• Mineral Resources are exclusive of Mineral Reserves
• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
• Caylloma Mineral Resources and Mineral Reserves are reported as of December 31, 2012
• Refer to www.fortunasilver.com for full disclosure