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Below is a list of institutions that provide research coverage of Fortuna Silver Mines Inc. Fortuna does not provide analyst coverage reports nor endorses or approves any opinions, estimates or forecasts made by the analysts who cover the Company. Please contact the analyst directly if you want to receive a copy of their report or discuss their views.

Banco de Crédito del Perú
Gonzalo La Rosa
Initiated coverage November 25, 2009
Tel. +51.1.313.2000, ext. 3055
BMO Capital Markets
Andrew Kaip
Initiated coverage July 12, 2010
Tel. 416.359.7224
Canaccord Adams
Nicholas Campbell
Initiated coverage November 2009
Tel. 604.643.7027
CIBC World Markets
Brian Quast
Initiated coverage March 2, 2010
Tel. 416.594.7000
Cormark Securities Inc.
Matthew O'Keefe
Initiated coverage October 14, 2009
Tel. 416.943.6705
PI Financial Corp.
Wayne Hewgill
Initiated coverage July 6, 2009
Tel. 604.718.7552
Salman Partners
Haytham Hodaly
Initiated coverage February 1, 2010
Tel. 604.622.5279
Mark Turner (Independent analyst)
Versant Partners
Anthona Curic
Initiated coverage December 2009
Tel. 416.849.5009