Reserves and Resources

Mineral Reserves - Proven and Probable

PropertyClassificationTonnes
(000)
Au
(g/t)
Cu
(%)
Contained Metal
Au
(koz)
Lindero Project, ArgentinaProven25,3520.760.11618
 Probable58,8750.580.111,096
 Proven +
Probable
84,2260.630.111,714

Mineral Resources - Measured and Indicated

PropertyClassificationTonnes
(000)
Au
(g/t)
Cu
(%)
Contained Metal
Au
(koz)
Lindero Project, ArgentinaMeasured2,0920.550.1237
 Indicated16,7740.490.10265
 Measured +
Indicated
18,8660.500.11302

Mineral Resources - Inferred

PropertyClassificationTonnes
(000)
Au
(g/t)
Cu
(%)
Contained Metal
Au
(koz)
Lindero Project, ArgentinaInferred8,6000.380.10106

Notes:

  1. Mineral Reserves and Mineral Resources are as defined by the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves
  2. Mineral Resources are exclusive of Mineral Reserves
  3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
  4. Factors that could materially affect the reported Mineral Resources or Mineral Reserves include; changes in metal price and exchange rate assumptions; changes in local interpretations of mineralization; changes to assumed metallurgical recoveries, mining dilution and recovery; and assumptions as to the continued ability to access the site, retain mineral and surface rights titles, maintain environmental and other regulatory permits, and maintain the social license to operate
  5. Mineral Resources and Mineral Reserves are reported as of March 31, 2019
  6. Mineral Reserves for Lindero are reported based on open pit mining within designed pit shells based on variable gold internal cut-off grades and gold recoveries by metallurgical type. Met type 1 cut-off 0.27 g/t Au, recovery 75.4%; Met type 2 cut-off 0.26 g/t Au, recovery 78.2%; Met type 3 cut-off 0.26 g/t Au, recovery 78.5%; and Met type 4 cut-off 0.30 g/t Au, recovery 68.5%. The cut-off grades and pit designs are considered appropriate for long term gold prices of US$1,320/oz. Assumptions used in the pit design are the same as those for the resources
  7. Lindero Mineral Resources are reported within a conceptual pit shell above a 0.2 g/t Au cut-off grade using a long-term gold price of US$1,320/oz, mining costs at US$1.28 per tonne of material, with total processing and process G&A costs of US$8.29 per tonne of mineralized material and an average process recovery of 75 %. The refinery costs net of pay factor were estimated to be US$6.90 per ounce gold. Slope angles are based on 3 sectors (39°, 42°, and 47°) consistent with geotechnical consultant recommendations
  8. Eric Chapman, P. Geo. (APEGBC #36328) is the Qualified Person for resources and Amri Sinuhaji (APEGBC #48305) is the Qualified Person for reserves, both being employees of Fortuna Silver Mines Inc.
  9. Totals may not add due to rounding procedures

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Effective Date: October 31, 2017

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