TRADING SYMBOL:
TSXV: FVI
Lima Exchange: FVI
VANCOUVER
,
Jan. 6
/PRNewswire-FirstCall/ - Fortuna Silver Mines Inc. (TSX.V: FVI / Lima Exchange: FVI) is pleased to announce that the Company has signed a commitment letter to enter into a US
$20 million
senior secured revolving credit facility with The Bank of
Nova Scotia
. The facility will have a 2.5 year maturity. The proceeds of the facility may be used for general corporate purposes, including the development of the San Jose Project in
Mexico
.
The facility is intended to complement Fortuna's strong cash position and provide additional financing flexibility during the construction stage at
San Jose
. On
December 14, 2009
the Company announced it had obtained all the required construction and environmental permits for the operation of a 1500 tonne per day underground mine. The
San Jose
pre-feasibility study is scheduled to be completed in the first quarter of 2010, with construction activities to commence shortly thereafter.
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 selectively pursuing additional acquisition opportunities. For more information, please visit our website at www.fortunasilver.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of
Canada
accepts responsibility for the adequacy or accuracy of this release.
ON BEHALF OF THE BOARD
Jorge Ganoza
President, CEO and Director
Fortuna Silver Mines Inc.
Symbol: TSX.V: FVI / Lima Exchange: FVI
SOURCE Fortuna Silver Mines Inc.
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