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Fortuna Silver Reports 26% Increase in Gold Reserves, 38% in Silver

Fortuna Silver Mines Inc. (FVI.TO) announced an updated Mineral Reserve and Mineral Resource estimates as of December 2012 for the Caylloma Mine located in Arequipa, Peru and for the San Jose Mine located in Oaxaca, Mexico.

Combined Inferred Resources for Caylloma and San Jose increased to 10.9 Mt containing an estimated 46.8 Moz silver and 273.4 koz gold, reflecting year-over-year increases of 38.5 % in contained silver ounces and 26.6 % in contained gold ounces.

FVI was up 6% to $4.14, trading near the lower end of 52-week range $3.03 - $6.82.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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