Fortuna Amends and Expands $40 Million Credit Facility

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 30, 2015) -

(All amounts expressed in US dollars, unless otherwise stated)

Fortuna Silver Mines Inc. (TSX:FVI)(NYSE:FSM) is pleased to announce that it has amended and expanded its existing $40 million revolving credit facility with the Bank of Nova Scotia. The new credit facility consists of a $40 million non-revolving term loan and a $20 million revolving credit facility. The $40 million term loan has a four year duration.

Along with the $40 million term loan, the company is entering into an interest rate hedge that will result in an expected effective rate between 4.0% and 4.5%, depending on the facility's pricing arrangement based on the company's leverage ratio.

The proceeds of the credit facility may be used for working capital requirements and general corporate purposes. The facility is intended to complement Fortuna's strong cash position and provide additional financing flexibility during the 50% expansion to 3,000 tpd of the San Jose mine.

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 acquisition opportunities throughout the Americas. For more information, please visit our website at www.fortunasilver.com.

ON BEHALF OF THE BOARD

Jorge A. Ganoza, President, CEO and Director

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 (collectively, "Forward looking Statements"). All statements included herein, other than statements of historical fact, are Forward looking Statements and are subject to a variety of known and unknown risks and uncertainties which could cause actual events or results to differ materially from those reflected in the Forward looking Statements. The Forward looking Statements in this news release may include, without limitation, statements about the Company's plans for its mines and mineral properties; the Company's business strategy, plans and outlook; the merit of the Company's mines and mineral properties; mineral resource and reserve estimates; timelines; the future financial or operating performance of the Company; expenditures; approvals and other matters. Often, but not always, these Forward looking Statements can be identified by the use of words such as "will", "will be" or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.