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VANCOUVER, British Columbia, Might 28, 2021 (GLOBE NEWSWIRE) — Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) is happy to supply an replace on the standing of the royalty declare on one in all its extracting mining concessions on the San Jose Mine situated in Oaxaca, Mexico.
In early February 2020, the Firm started authorized proceedings (the “Amparo Proceedings”) to contest the initiation of a cancellation process taken by the Dirección Normal de Minas (“DGM”) on one of many Firm’s mining concessions, if a royalty claimed by the Mexican Geological Service (the “SGM”) was not paid (check with Fortuna information releases dated January 29 and March 5, 2020).
Efficient Might 27, 2021, the DGM offered discover to the Firm of the termination of the cancellation process, because it has decided that the required trigger for cancellation of the concession was not established. In consequence, the Firm has discontinued the Amparo Proceedings within the Collegiate Courtroom in Mexico.
In mild of those constructive developments, the Firm is now engaged in goodwill discussions with the SGM to achieve an settlement to the satisfaction of each events with respect to the royalty declare.
About Fortuna Silver Mines Inc.
Fortuna Silver Mines Inc. is a Canadian valuable metals mining firm with operations in Peru, Mexico, and Argentina. Sustainability is integral to all our operations and relationships. We produce silver and gold and generate shared worth over the long-term for our shareholders and stakeholders by way of environment friendly manufacturing, environmental safety, and social accountability. For extra info, please go to our web site at www.fortunasilver.com.
ON BEHALF OF THE BOARD
Jorge A. Ganoza
President, CEO, and Director
Fortuna Silver Mines Inc.
Buying and selling symbols: NYSE: FSM | TSX: FVI
Investor Relations:
Carlos Baca
E: info@fortunasilver.com
Ahead-looking Statements
This information launch comprises forward-looking statements which represent “forward-looking info” inside the that means of relevant Canadian securities laws and “forward-looking statements” inside the that means of the “secure harbor” provisions of the Non-public Securities Litigation Reform Act of 1995 (collectively, “Ahead-looking Statements”). All statements included herein, apart from statements of historic reality, are Ahead-looking Statements and are topic to a wide range of recognized and unknown dangers and uncertainties which may trigger precise occasions or outcomes to vary materially from these mirrored within the Ahead-looking Statements. The Ahead-looking Statements on this information launch might embrace, with out limitation, statements concerning the Firm’s discussions with the SGM, and the potential for the Firm to in the end be required to pay the disputed royalty, or how the Firm would fulfill such cost and different issues. Usually, however not all the time, these Ahead-looking Statements will be recognized by means of phrases corresponding to “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “acquire”, “deliberate”, “reflecting”, “will”, “containing”, “remaining”, “to be”, or statements that occasions, “may” or “ought to” happen or be achieved and related expressions, together with adverse variations.
Ahead-looking Statements contain recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any outcomes, efficiency or achievements expressed or implied by the Ahead-looking Statements. Such uncertainties and components embrace, amongst others, that the Firm could also be unsuccessful in its discussions with the SGM and will in the end be required to pay the quantity of the disputed royalty plus VAT; the length and results of COVID-19, and another pandemics on our operations, manufacturing and workforce, and the results on world economies, governments, courts and society, precise outcomes of manufacturing and exploration actions; adjustments normally financial circumstances and monetary markets; adjustments in costs for gold, silver and different metals; fluctuation in overseas change charges; any extension of the forex controls in Argentina; technological and operational hazards in Fortuna’s mining and mine improvement actions; delays in commissioning at Lindero; delays in reaching regular manufacturing and graduation of economic manufacturing at Lindero; dangers inherent in mineral exploration; uncertainties inherent within the estimation of mineral reserves, mineral sources, and steel recoveries; adjustments to present estimates of mineral reserves and sources; adjustments to manufacturing estimates; governmental and different approvals; adjustments in authorities, political unrest or instability in nations the place Fortuna is energetic; labor relations points; in addition to these components mentioned below “Danger Elements” within the Firm’s Annual Data Kind. Though the Firm has tried to determine essential components that would trigger precise actions, occasions or outcomes to vary materially from these described in Ahead-looking Statements, there could also be different components that trigger actions, occasions or outcomes to vary from these anticipated, estimated or meant.
Ahead-looking Statements contained herein are primarily based on the assumptions, beliefs, expectations and opinions of administration, together with however not restricted to expectations concerning success in its authorized and administrative proceedings which relies upon recommendation from unbiased regulation companies, anticipated tendencies in mineral costs and forex change charges; the accuracy of the Firm’s present mineral useful resource and reserve estimates; that the Firm’s actions can be in accordance with the Firm’s public statements and said targets; that there can be no materials opposed change affecting the Firm or its properties; that every one required approvals can be obtained; that there can be no vital disruptions affecting operations and such different assumptions as set out herein. Ahead-looking Statements are made as of the date hereof and the Firm disclaims any obligation to replace any Ahead-looking Statements, whether or not on account of new info, future occasions or outcomes or in any other case, besides as required by regulation. There will be no assurance that the Firm can be profitable in its authorized proceedings or that these Ahead-looking Statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, traders shouldn’t place undue reliance on Ahead-looking Statements.
