Page 1

EX - 99.5 6 tm2115520d2_ex99-5.htm EXHIBIT 99.5 FORTUNA SILVER MINES INC . CORPORATE OFFICE Suite 650-200 Burrard Street Vancouver , BC Canada V6C 3L6 T : +1.604.484,4085 F : +1.604.484.4029 MANAGEMENT HEAD OFFICE Piso 5. Av . Jorge Chávez # 154 Miraflores , Lima - Perú T : +51.1.616.6060 , ext . O Exhibit 99.5 TRADING SYMBOL NYSE : FSM TSX : FVI info@fortunasilver.com WWW.FORTUNASILVER.COM Fortuna Reports First Quarter 2021 Financial Results ( All amounts expressed in US dollars , tabular amounts in millions , unless otherwise stated ) Vancouver , May 10 , 2021 : Fortuna Silver Mines Inc. ( NYSE : FSM ) ( TSX : FVI ) ( “ Fortuna ” or the “ Company ” ) today reported record first quarter 2021 net income of $ 26.4 million , adjusted net income¹ of $ 27.5 million , and adjusted EBITDA¹ of $ 60.8 million . Jorge A. Ganoza , President and CEO , commented , “ Our record financial performance in the first quarter reflects the combination of strong operating performance at San Jose and Caylloma , Lindero's first full quarter of contribution to sales , and favourable metal prices . " Mr. Ganoza added , " As Lindero continues to ramp up we are pleased with the progress made in Q1 considering the challenges we continue to face in the context of COVID - 19 related restrictions . We remain on track to meet our consolidated guidance of 178,000 to 202,000 ounces of gold and 6.8 million to 7.6 million ounces of silver . " First Quarter 2021 Highlights • • • Record sales of $ 117.8 million , an increase of 148 % from the $ 47.5 million reported in the same period in 2020 ( " Q1 2020 " ) , due to higher realized prices and sales volumes for all metals at all mines , notably sales from the Lindero Mine of $ 36.9 million Record net income of $ 26.4 million or $ 0.14 per share , an increase of $ 30.9 million and $ 0.17 per share , from the $ 4.5 million net loss or $ 0.03 loss per share reported in Q1 2020 Record adjusted net income¹ of $ 27.5 million compared to $ 2.2 million net loss in Q1 2020 • Record adjusted EBITDA¹ of $ 60.8 million compared to $ 15.9 million reported in Q1 2020 • • • • Free cash flow from ongoing operations¹ of $ 17.4 million compared to $ 14.2 million reported in Q1 2020 , the current quarter was impacted by a $ 16.2 million increase in trade receivables due to timing of collections As of March 31 , 2021 , the Company had cash and cash equivalents of $ 145.7 million , an increase of $ 13.8 million from December 31 , 2020 Silver and gold production of 1,913,755 ounces and 34,355 ounces , respectively AISC1,2 per silver equivalent ounce of payable silver sold of $ 13.52 and $ 18.50 for the San Jose Mine and Caylloma Mine , respectively , and AISC¹ per ounce of gold sold of $ 1,055 for the Lindero Mine Announced a business combination transaction with Roxgold Inc. on April 26 , 2021 : creates a low - cost intermediate global precious metals producer with extensive brownfields and greenfields organic growth potential and led by highly experienced management 2 Refer to Non - IFRS Financial Measures . AISC / oz Ag Eq calculated at realized metal prices , refer to mine site results for realized prices and Non - IFRS Financial Measures for silver equivalent ratio .