October 6, 2008
Fortuna Appoints Mario Szotlender and Rick Clark to the Board/Grants Stock Options
Fortuna Silver Mines Inc. (TSX VENTURE: FVI)(BVL: FVI): Mr. Simon Ridgway, Chairman of the Board, is pleased to announce the appointment of Mr. Mario Szotlender and Mr. Rick Clark to the Board of Directors of Fortuna.
Mr. Clark is a lawyer who practiced mining and securities law in British Columbia from 1987 to 1993. For the past ten years Mr. Clark has been a senior executive with the Lundin Group of Companies. In 2004 he became President and CEO of Red Back Mining Inc. and under his leadership, the company has grown into an intermediate gold producer with a production profile of over 500,000 oz. per annum. Mr. Clark has successfully guided Red Back through all facets of growth including discovery, feasibility, financing and production coupled with successful corporate acquisitions.
Mr. Szotlender is a financier and businessman with a Bachelors degree in International Relations, Universidad Central de Venezuela, Caracas, Venezuela. He has successfully directed Latin American affairs for numerous private and public companies over the past 19 years, specializing in developing new business opportunities and establishing relations with the investment community. Mr. Szotlender has also headed several alluvial mineral operations in Venezuela, including Las Cristinas in the 1980's. Recently he was CEO of Rusoro Mining Ltd. and guided the Company through its acquisition of Mena Resources. He is a director of Radius Gold Inc. and Endeavour Silver Corp.
Jorge Ganoza Durant, President, CEO and Director of Fortuna, said: "Fortuna has evolved rapidly into a silver producing mining company operating in Peru and Mexico. We welcome Rick and Mario, two seasoned industry executives, who bring a wealth of experience to the Board."
The Company also announces that it has granted incentive stock options to its directors and employees to purchase up to 1,405,000 shares exercisable for ten years at a price of $0.85 per share, and has amended a total of 385,000 options currently held by employees and consultants to reduce the exercise price thereof to $0.85 per share. The Company has set a vesting restriction on all of the new and amended options to the effect that no portion of the options may be exercised during the first four months.
Fortuna Silver Mines Inc.
Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma Silver Mine in southern Peru and the San Jose Silver-Gold Project in Mexico. The Company is aggressively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.
ON BEHALF OF THE BOARD
Simon Ridgway, Chairman of the Board
Fortuna Silver Mines Inc.
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
Contacts: Fortuna Silver Mines Inc. Carlos Baca Investor Relations - Lima Office (511) 616-6060 Fortuna Silver Mines Inc. Erin Ostrom Investor Relations - Vancouver Office (604) 484-4085 (604) 484-4029 (FAX) Email: [email protected] Website: www.fortunasilver.com
SOURCE: Fortuna Silver Mines Inc.