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  | | Jan 06, 2010
Fortuna signs commitment letter for US $20 Million credit facility | | |
January 6, 2010: Fortuna Silver Mines Inc. (TSX.V: FVI / Lima Exchange: FVI) is pleased to announce that the Company has signed a commitment letter to enter into a US $20 million senior secured revolving credit facility with The Bank of Nova Scotia. The facility will have a 2.5 year maturity. The proceeds of the facility may be used for general corporate purposes, including the development of the San Jose Project in Mexico.
The facility is intended to complement Fortuna's strong cash position and provide additional financing flexibility during the construction stage at San Jose. On December 14, 2009 the Company announced it had obtained all the required construction and environmental permits for the operation of a 1500 tonne per day underground mine. The San Jose pre-feasibility study is scheduled to be completed in the first quarter of 2010, with construction activities to commence shortly thereafter.
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 Project in Mexico. The Company is selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
Jorge Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.
Symbol: TSX.V: FVI / Lima Exchange: FVI
Investor Relations:
Lima office: Carlos Baca - Tel: 51.1.616.6060
Vancouver office: Erin Ostrom - Tel: 604.484.4085 |
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| | You can view the Next News Releases item: Sun Jan 17, 2010, Fortuna to Trade on the Toronto Stock Exchange, January 18, 2010
You can view the Previous News Releases item: Mon Dec 14, 2009, Fortuna receives final permit for the construction and operation of the San Jose Project, Mexico
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