Mr. Jorge Ganoza reports

FORTUNA PROVIDES UPDATE ON SAN JOSE'S ENVIRONMENTAL IMPACT AUTHORIZATION

The Mexican Federal Administrative Court has granted a provisional injunction to Compania Minera Cuzcatlan, Fortuna's Mexican subsidiary, which allows the San Jose mine to continue to operate under the terms of the 12-year environmental impact authorization (EIA).

Minera Cuzcatlan initiated legal proceedings (the "Legal Proceedings") to contest and revoke the annulment of the EIA in response to the resolution issued by the Secretaria de Medio Ambiente y Recursos Naturales ("SEMARNAT"). SEMARNAT is re-assessing the 12-year extension to the EIA for the San Jose Mine that it granted to Minera Cuzcatlan in December 2021 (refer to Fortuna news releases dated December 20, 2021 and January 5, 2023).

The Court has admitted the Legal Proceedings, and as a first step has granted a provisional injunction in favor of Minera Cuzcatlan. It is expected that the Court will decide on the grant of a permanent injunction, within the coming weeks, which would continue in effect until the Court has ruled on the revocation of the EIA.

Minera Cuzcatlan is in full compliance with all material environmental laws and continues to operate under the terms of the EIA. The Company continues to work with communities from the surrounding area in relation to the mine to enhance and expand the social benefits of the mine in the region. The mine is the single largest employer in the region of Valles Centrales and provides direct employment to over 1,200 people. The Company has sustainable development initiatives with various neighboring communities and works with over 150 small local enterprises.

About Fortuna Silver Mines Inc.