1. September 2013

2. Regulatory Disclaimer
2
Certain statements in this presentation constitute forward‐looking statements and as such
are based on an assumed set of economic conditions and courses of action. These include
estimates of future production levels, expectations regarding mine production costs,
expected trends in mineral prices and statements that describe Fortuna’s future plans,
objectives or goals. There is a significant risk that actual results will vary, perhaps materially,
from results projected depending on such factors as changes in general economic conditions
and financial markets, changes in prices for silver and other metals, technological and
operational hazards in Fortuna’s mining and mine development activities, risks inherent in
mineral exploration, uncertainties inherent in the estimation of mineral reserves, mineral
resources, and metal recoveries, the timing and availability of financing, governmental and
other approvals, political unrest or instability in countries where Fortuna is active, labor
relations and other risk factors.
Thomas I. Vehrs, Ph.D., Vice President of Exploration, is the Qualified Person for Fortuna
Silver Mines Inc. as defined by National Instrument 43‐101. Dr. Vehrs is a Founding
Registered Member of The Society for Mining, Metallurgy, and Exploration, Inc. (SME
Registered Member Number 3323430RM) and is responsible for ensuring that the technical
information contained in this presentation is an accurate summary of the original reports
and data provided to or developed by Fortuna Silver Mines Inc.

3. Caylloma Mine, Peru
3
Vision
To be valued by our workers, the community and our shareholders as a leading
silver mining company in Latin America

4. Core Assets
4
Proven mine builders and strong operators in the Americas
Production
• Increasing Ag ‐ Au production profile
• Low cost silver producer
• Decreasing all‐in sustaining cash cost*:
Exploration
• Trinidad North high‐grade Ag‐Au discovery at
the San Jose Mine
• Over 95,000 ha of mining concessions
between Peru and Mexico
2013E 2014‐2016E
US$12.93/oz Ag
US$20.45/oz Ag
(*) All‐in cash cost figures are net of by‐product credits and are based on the guidelines from the World Gold Council

5. ‐40%
‐30%
‐20%
‐10%
0%
10%
20%
30%
40%
50%
60%
70%
2.05
2.45
2.85
3.25
3.65
4.05
4.45
4.85
5.25
5.65
29/06/2012
29/07/2012
28/08/2012
27/09/2012
27/10/2012
26/11/2012
26/12/2012
25/01/2013
24/02/2013
26/03/2013
25/04/2013
25/05/2013
24/06/2013
24/07/2013
23/08/2013
FVI‐T SLV
Capital structure and share performance
5
Solid balance sheet to support disciplined growth strategy
Strong Balance Sheet
• US$48 million in cash (end Q2 2013)
• US$40 million untapped credit facility
• No long term debt
• No hedging
Share Structure (as of July 2013)
Outstanding: 125.3 million
Fully diluted: 132.5 million
Relative Performance (%) of FVI.T and Spot Silver Price (through 9‐3‐13)
Exchanges
NYSE: FSM
TSX: FVI
BVL: FVI
Frankfurt: F4S.F
Share Price
Performance %
3.48
4.43
+27%+27%
‐12%‐12%

6. Key Milestones
6
Foundations of a leading silver mining company
• Fortuna Silver Mines Inc.
established
• Commenced production at
the Caylloma Mine, Peru
on time and on budget
• Acquired 100 % interest in
the San Jose project, Mexico
• Construction and commercial
production at the San Jose
Mine on time and on budget
• Trinidad North high‐grade
Ag‐Au discovery at the
San Jose Mine
• Commissioning of 1,800 tpd
mill expansion at the San
Jose Mine in Q3
2005‐2007 2009‐2011 2013

7. Trinidad North Discovery – San Jose Mine
7
Bonanza‐style Ag‐Au grades and widths
• Initial NI 43‐101
resource
estimation
targeted for
October 2013
• Initial production
from Trinidad
North area
projected for Q1
2015

8. Trinidad North Discovery – San Jose Mine
8
Northernmost drill holes – Section 1847400N
• Banded ore textures indicate episodic
mineralizing events
• Consistently high‐grade over wide widths
• Robust mineralized system with strong
potential for lateral and vertical extensions
• Vertical extension of Trinidad system
exceeds 500 m ‐ open to depth
• Potential for discovery of additional
mineralized shoots along strike to north

9. Trinidad North Discovery – San Jose Mine
9
Longitudinal section Ag Eq isograde grid Bonanza Vein 745100E (Looking West)

10. Trinidad North Discovery – San Jose Mine
10
Drill hole SJO‐283
556.20 – 569.20 m: 13.00 m averaging 1,789 g/t Ag, 10.10 g/t Au, 2,328 g/t Ag Eq

11. Solid Reserve and Resource Base
11
Consistent resource growth
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2005 2006 2007 2008 2009 2010 2011 2012
Contained Metal ‐Ag Eq(Moz) *
Proven & Probable Reserves
Measured & Indicated Resources
Inferred Resources
* Ag Eq for Resources calculated using Ag = US$25.14/oz and Au = US$1,391.63/oz
Ag Eq for Reserves calculated using Ag = US$29.36/oz and Au = US$1,544.00/oz
Mineral Resources are exclusive of Mineral Reserves

12. 3,300 2,200 2,700 2,600
7,000
20,700
23,600
31,600 32,200 33,200
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2007 2008 2009 2010 2011 2012 2013E 2014E 2015E 2016E
oz
0.4
0.8
1.7 1.9
2.5
3.9
4.5
5.4 5.4
5.7
0.0
1.0
2.0
3.0
4.0
5.0
6.0
2007 2008 2009 2010 2011 2012 2013E 2014E 2015E 2016E
Moz
Increasing Silver and Gold Production
Low cost, organic growth in Peru and Mexico
Ag Production
Au Production
12

13. 24
39
62
46
2010 2011 2012 2013E*
51
74
110
161
142
2009 2010 2011 2012 2013E*
Cash Flow from Operations
(US$ million)
Financial Snapshot
13
Revenue and cash flow performance
Revenue
(US$ million)
(*) 2013 forecast: Ag = US$20/oz, Au = US$1,200/oz, Pb = US$2,100/t and Zn = US$2,000/t

14. 0.16
0.10
0.13
0.05
0.00
0.02
0.04
0.06
0.08
0.10
0.12
0.14
0.16
0.18
Q3 2012 Q4 2012 Q1 2013 Q2 2013
Cash Flow Per Share (US$)
Financial Snapshot
14
Quarterly earnings and cash flow per share performance
0.06
0.07
0.05
0.00
0.00
0.02
0.04
0.06
0.08
0.10
0.12
0.14
Q3 2012 Q4 2012 Q1 2013 Q2 2013
Adjusted Earnings Per Share US$

15. 0.4
1.9
2.4
3.4 3.3
3.7
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
4,600
17,900
20,900
28,400 28,200
30,200
4,000
8,000
12,000
16,000
20,000
24,000
28,000
32,000
San Jose Mine, Mexico
15
Overview
Commodities
Silver, gold
Operation
1,800 tpd underground mine
Reserve Life
5 Years
Location
Taviche Mining District
Oaxaca, Mexico
Ownership
100 %
Deposit Type
High‐grade, low sulphidation
epithermal deposit
2013E All‐In Cash Cost/oz Ag,
net of by‐products Au
US$18.98
2014‐2016E All‐In Cash Cost/oz Ag,
net of by‐product Au
US$11.41
491
1,949
2,403
2,993
0
500
1000
1500
2000
2500
3000
3500
2011 2012 2013E 2014E
Ag Production Au Production
oz
Moz

16. 2.0 2.0 2.0 2.0
2.1
2.0
1.5
1.6
1.7
1.8
1.9
2.0
2.1
2.2
2011 2012 2013E 2014E 2015E 2016E
Caylloma Mine, Peru
16
Overview
16
Commodities
Silver, zinc, lead
Operation
1,300 tpd underground mine
Reserve Life
8 Years
Location
Arequipa, Peru
Ownership
100 %
Deposit Type
Intermediate sulphidation
epithermal deposit
2013E All‐In Cash Cost/oz Ag,
net of by‐products Pb and Zn
US$20.89
2014‐16E All‐In Cash Cost/oz Ag,
net of by‐products Pb and Zn
US$10.68
Ag Production
Moz

17. Commitment to Sustainability
17
Forging strategic partnerships
• Programs are based on respect for ethno‐
cultural diversity, open communication and
effective interaction with all stakeholders
• We work with communities towards self‐
development of economically sustainable
activities to improve their quality of life

18. Growth Strategy
18
Three‐pronged approach to create shareholder value
Capitalize on
brownfields exploration
opportunities
• Post discovery,
pre‐development
opportunities in the
Americas
• Below industry median
for cash cost
• Defining high‐grade Ag‐Au
Trinidad North discovery at
the San Jose Mine
• Commanding land packages in
Peru and Mexico
• Commissioning of the San
Jose Mine mill expansion to
1,800 tpd in Q3 2013
• Focus on operational
efficiencies to reduce
cash costs
Pursue selective
M&A opportunities
Maximize production,
profitability and cash
flow of current mines

19. 19
Proven mine developers and strong operators
• Increasing Ag – Au production profile
• Decreasing all‐in sustaining cash costs:
• 2013E = US$20.45/oz Ag
• 2014 – 2016E = US$12.93/oz Ag
Strong treasury
• US$48 M in cash (end of Q2 2013)
• US$40 M untapped credit facility
In line to meet 2013 production guidance
• 4.5 M oz Ag
• 23,600 oz Au
Brownfields exploration success
• Trinidad North high‐grade Ag‐Au discovery
at the San Jose Mine, Mexico
1
2
3
4
A leading silver mining company in the Americas
Investment Highlights

20. 20
MANAGEMENT HEAD OFFICE
Carlos Baca
Investor Relations Manager
T: +51.1.616.6060, ext. 0
info@fortunasilver.com

21. Appendix
21
Senior Management
Jorge A. Ganoza
President, CEO and Director
Co‐founder of Fortuna. Peruvian geological
engineer. Identified and negotiated purchase
of Caylloma, built the Fortuna team. Jorge
also serves as Chairman of the Board of Atico
Mining Corporation.
Dr. Thomas I. Vehrs
Vice President, Exploration
Over 35 years experience managing
exploration programs in the Americas. Tom
also serves as an independent director for
AQM Copper Inc.
Cesar Pera
Vice President,
Human & Organizational Development
Over 25 years experience in organizational
development and change in Latin American
companies.
Luis Dario Ganoza
Chief Financial Officer
Over 15 years experience in the
operations and financial management
of public mining companies. Luis also
serves as a Director of Atico Mining
Corporation.
Manuel Ruiz‐Conejo
Vice President, Operations
Over 25 years experience in the
execution of multi‐million dollar mining
projects and the implementation of
community relations programs.
Robert Brown
Vice President, Corporate Development
20 years experience in exploration,
project development and finance.
Former CEO of Calibre Mining Corp. and
senior manager at Barrick Gold in
exploration and business development.

22. Directors
22
FORTUNA | DIRECTORS
APPENDIX
Simon Ridgway, Chairman of the Board
Co‐founder of Fortuna. Vancouver‐based
mining financier. Also founded Focus
Ventures, Radius Gold, Mar West Resources
and Northland Resources.
Jorge A. Ganoza, President and CEO
Co‐founder of Fortuna. Peruvian geological
engineer. Identified and negotiated purchase
of Caylloma, built the Fortuna team. Jorge
also serves as Chairman of the Board of Atico
Mining Corporation.
Robert R. Gilmore
30 years of experience working with
resource companies and currently serves as
Chairman of the Board for Eldorado Gold
Corporation and as a Director for Layne
Christensen Company.
David Farrell
President of Davisa Consulting, a private
consulting firm working with global mining
companies. Successfully closed over US$25
billion in M&A transactions. Director of
Northern Vertex Mining Corp.
Tomas Guerrero
Geological engineer with over 30 years
experience. Served as Director of
Explorations for the Hochschild Group.
Michael Iverson
Chief Executive Officer of Fortuna from
1998 to January 2005. President and
Director of Niogold Mining Corp. since
1998.
Thomas Kelly
36 years of experience in mine
production, minerals industry consulting
and corporate management in various
Latin American countries. Currently serves
as COO of Atico Mining Corporation.
Mario Szotlender
Co‐founder of Fortuna. Financier,
businessman and Director of Radius Gold,
Endeavour Silver, Magellan, Focus
Ventures and Iron Creek.

23. Appendix
23
Trinidad North discovery drilling highlights
Hole_Id
From To Interval Est. True Ag Au Ag Eq
(m) (m) (m)
Width
(m)
(g/t) (g/t) (g/t)
SJO-261
510.45 528.65 18.20 10.7 241 1.57 325
549.55 553.70 4.15 2.4 1,370 7.89 1,791
SJO-266
469.80 489.00 19.20 12.3 427 2.77 575
494.00 497.80 3.80 2.4 532 3.44 716
513.50 516.30 2.80 1.8 867 4.36 1,100
SJO-268 531.20 545.00 13.80 7.2 320 1.45 397
SJO-275 515.70 537.75 22.05 13.7 510 3.32 687
SJO-276 448.95 465.35 16.40 12.3 520 3.69 717
SJO-279 501.70 513.75 12.05 7.4 406 1.75 499
SJO-283 556.20 569.20 13.00 7.3 1,789 10.10 2,328
SJO-288
551.85 591.10 39.25 19.3 736 4.76 990
596.70 602.80 6.10 3.0 529 4.69 779
SJO-295
515.00 523.80 8.80 5.9 1,240 6.94 1,610
533.20 544.00 10.80 7.2 731 3.84 936
• Average grade and widths in
excess of those found in the San
Jose Mine reserves and
resources
• Estimated true widths of up to
19 meters
• Ag Eq values range to 2.3 kg/t
• Close proximity to existing
operation
• Mineralization open at depth
and to the north
Ag Eq values calculated at Au:Ag ratio of 53.37 based on Au price of US$1572.19 and
Ag price of US$29.46 and metallurgical recoveries of 89 % for both Au and Ag

24. Classification
Tonnes
(000)
Ag
(g/t)
Au
(g/t)
Contained Metal
Ag
(Moz)
Au
(koz)
Proven & Probable Reserves 3,335 190 1.58 20.4 169.5
Inferred Resources 4,257 185 1.57 25.3 214.9
Appendix
24
San Jose Mine NI 43 – 101 Reserves and Resources
Mineral Reserve and Mineral Resource estimates prepared in accordance with NI 43 ‐ 101:
• Mineral Reserves and Mineral Resources are as defined by the CIM Definition Standards on Mineral Resources
and Mineral Reserves
• Mineral Resources are exclusive of Mineral Reserves
• Measured and Indicated Resources exclusive of Mineral Reserves are not material and are not included in table
• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
• San Jose Mineral Resources & Mineral Reserves are reported as of December 31, 2012
• Refer to www.fortunasilver.com for full disclosure

25. Appendix
25
Caylloma Mine NI 43 – 101 Reserves and Resources
Classification
Tonnes
(000)
Ag
(g/t)
Au
(g/t)
Pb
(%)
Zn
(%)
Contained Metal
Ag
(Moz)
Au
(koz)
Proven & Probable Reserves 4,308 130 0.37 1.52 2.15 17.9 51.1
Measured & Indicated Resources 1,601 79 0.33 0.79 1.43 4.1 17.0
Inferred Resources 6,633 101 0.27 1.84 2.58 21.5 58.5
Mineral Reserve and Mineral Resource estimates prepared in accordance with NI 43 ‐ 101:
• Mineral Reserves and Mineral Resources are as defined by the CIM Definition Standards on Mineral Resources
and Mineral Reserves
• Mineral Resources are exclusive of Mineral Reserves
• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability
• Caylloma Mineral Resources and Mineral Reserves are reported as of December 31, 2012
• Refer to www.fortunasilver.com for full disclosure