Vancouver, December 16, 2011– Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI) is pleased to announce that it has been added to the S&P/TSX Composite, effective at the market open on Monday, December 19, 2011. The Company joins Canada’s other leading silver producers on the 255-company index, which represents the largest businesses on the Toronto Stock Exchange.

“Fortuna’s addition to the S&P/TSX Composite caps a year of transformation for the Company,” said Jorge A. Ganoza, Fortuna President, CEO and co-founder. “As a new addition to the Index, Fortuna’s management is looking forward to the heightened visibility and exposure that it brings to its constituent companies. With the opening of our San Jose mine in Mexico this fall adding to existing production from the Caylloma mine, our silver production has increased substantially and will continue to increase during 2012 providing our shareholders with growing exposure to the metal.”

About the S&P/TSX Index

The S&P/TSX Composite is the headline index for the Canadian equity market. It is the broadest in the S&P/TSX family and is the basis for multiple sub-indices including but not limited to equity indices, Income Trust Indices, Capped Indices, GICS Indices and market cap based indices. The Toronto Stock Exchange (TSX) serves as the distributor of both real-time and historical data for this index. S&P Indices, the world’s leading index provider, maintains a wide variety of investable and benchmark indices to an array of investor needs. For more information, visit www.standardandpoors.com/indices.

About Fortuna Silver Mines Inc.

Established in 2004, Fortuna is a growth-oriented silver and base metal producer focused on mining opportunities in Latin America. Its primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The Company is also engaged in exploration activities at the Mario property in central Peru and is selectively pursuing additional acquisition opportunities in the region. For more information, please visit our website at www.fortunasilver.com .


ON BEHALF OF THE BOARD

Jorge A. Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.