Fortuna Silver Mines (FVI.TSX) announced consolidated production figures for the third quarter of 2011 from its San Jose mine in Mexico and its Caylloma mine in Peru.  With the start of commercial operations at the San Jose mine in September, Fortuna is on pace to generate sustained quarterly production growth to the planned annual rate of 4.9 million ounces of silver and 26,000 ounces of gold by Q4 2013.

The Company is also conducting an optimization study at the Caylloma mine.  This study is based on the 4 million tonnes of reserves, and the results – expected in Q1 2012 – could lead to production expansions beyond the current 1,270 tonnes per day (tpd).

Highlights:

* Silver production of 673,137 ounces; 42% increase over Q3 2010

* Gold production of 1,623 ounces; 157% increase over Q3 2010

* Fortuna Silver Mines affirmed its full-year 2011 guidance of 2.4 million ounces of silver and 7,530 ounces of gold

Jorge Ganoza , President & CEO:

“This is the first quarter where we see an initial contribution to our silver and gold production from San Jose . Over the next twenty four months we plan to continue deriving quarterly growth from San Jose as we expand the mine to the designed rate of 1500 tpd and we access production panels below level 1400, where we have an increasing grade profile with depth.”

Scott Cutler, Executive Vice President, NYSE Euronext:

“We welcome Fortuna Silver Mines Inc. to the NYSE Euronext family of listed companies and to New York Stock Exchange. Fortuna Silver Mines and its shareholders will benefit from superior market quality and technology, a broad array of issuer and investor services and a global brand association.