Fortuna Mining : 2024 ESTMA Report (175 KB) (2024 ESTMA Report)

UNCLASSIFIED - NON CLASSIFIÉ

Extractive Sector Transparency Measures Act - Annual Report

Reporting Entity Name			Fortuna Silver Mines Inc.
Reporting Year	From	1/1/2024	To:	12/31/2024	Date submitted
Reporting Entity ESTMA Identification Number	E929085		Original Submission
			Amended Report
Other Subsidiaries Included
(optional field)
Not Consolidated
Not Substituted

Attestation by Reporting Entity

In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above.

Full Name of Director or Officer of Reporting Entity	Kevin O'Reilly
Position Title	VP Finance and Administration

Date

4/15/2025

UNCLASSIFIED - NON CLASSIFIÉ

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

1/1/2024

To:

12/31/2024

CAD

Reporting Entity Name

Fortuna Silver Mines Inc.

Currency of the Report

Reporting Entity ESTMA

E929085

Identification Number

Subsidiary Reporting Entities (if

necessary)

Payments by Payee

Departments, Agency, etc…

Infrastructure

Total Amount paid to

Country

Payee Name1

within Payee that Received

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Notes34

Payments2

Improvement Payments

Payee

Côte d'Ivoire

Government of Cote d'Ivoire

Tax authority

32,091,295

26,608,537

575,937

402,806

59,678,574

Payments made in XOF, refer to

Additional notes for conversion

assumptions

Burkina Faso

Government of Burkina Faso

Tax authority

3,633,488

30,386,990

3,743,213

436,778

920,530

39,121,000

Payments made in XOF, refer to

Additional notes for conversion

assumptions

Mexico

National Government of

Mexican Geological Service

0.00

2,788,279 0.00

0.00

0.00

0.00

0.00

2,788,279

Payments relate to royalties

Mexico

Payments relate to 7.5% mining

Mexico

National Government of

Ministry of Economy

2,103,303

1,009,204

1,535,341

0.00

0.00

0.00

0.00

4,647,848

royalty (Taxes);

0.5% extraordinary mining duty

Mexico

(Royalties); and

mining concessions (Fees)

Mexico

Municipality of San Jose del

0.00

0.00

0.00

0.00

766,678

1,149,673

1,916,352

Payments for infrastructure and

community projects at San Jose del

Progreso

Progreso township

Mexico

Municipality of Magdalena

0.00

0.00

0.00

0.00

0.00

0.00

399,302

399,302

Payments for infrastructure and

community projects at Magdalena

Ocotlán

Ocotlán

Argentina

National Government of

Ministry of Environment and

236,089

236,089

Water canon. Reportable under the

Argentina

Production

ESTMA.

Argentina

National Government of

Mining and energy resources

2,792

2,792

Inspection expenses and exploration

Argentina

secretary

canon. Lower than CA$ 100,000

Argentina

Municipality of Tolar Grande

283,396

283,396

Construction fee. Safety, health and

hygiene fee, other minor. Reportable

under the ESTMA.

Grand Treasury of the Province

Stamp taxes not related to

Argentina

Province of Salta

19,848

19,848

Commercial Development.

of Salta

Reportable under the ESTMA. Lower

than CA$ 100,000

National Government of

Federal Public Revenue

Custom taxes includes VAT

Argentina

12,220,556

-

12,220,556

(consumption tax specifically

Argentina

Administration

excluded), and customs fees. Not

reportable under the ESTMA.

Argentina

National Government of

Federal Public Revenue

898,182

-

898,182

Wealth tax (on behalf of the

shareholders). Reportable under the

Argentina

Administration

ESTMA.

Argentina

National Government of

Federal Public Revenue

1,472,280

-

1,472,280

Export duties. Reportable under the

Argentina

Administration

ESTMA

Argentina

Province of Salta

Grand Treasury of the Province

5,862,116

-

5,862,116

Royalties.Reportable under the

of Salta

ESTMA

UNCLASSIFIED - NON CLASSIFIÉ

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year

From:

1/1/2024

To:

12/31/2024

CAD

Reporting Entity Name

Fortuna Silver Mines Inc.

Currency of the Report

Reporting Entity ESTMA

E929085

Identification Number

Subsidiary Reporting Entities (if

necessary)

Payments by Payee

Departments, Agency, etc…

Infrastructure

Total Amount paid to

Country

Payee Name1

within Payee that Received

Taxes

Royalties

Fees

Production Entitlements

Bonuses

Dividends

Notes34

Payments2

Improvement Payments

Payee

Payments related to:

- Income Tax

National Superintendency of Tax

12,257,494

378,367

-

12,635,860

- Net Assets tax

Peru

Federal Govemement of Peru

- Mining workers Retirement Plan

Administration

contribution

- Mining Royalty

- Special Mining Tax

Peru

Federal Govemement of Peru

Agency for Environmental

109,154

-

109,154

Assessment and Enforcement

Peru

Federal Govemement of Peru

Department of Investments in

187,121

-

187,121

Mining and Energy

Peru

Federal Govemement of Peru

Institute of Geological, Mining

316,818

-

316,818

Payments related to mining

and Metallurgy

concessions

Agriculture Minister - Peruvian Water

Peru

Federal Govemement of Peru

Water Resources Commission

253,053

-

253,053

Authority includes fees and

contribution, calculated from water

consumption.

Additional Notes:

The amounts above are all reflected in CAD, the functional currency of the reporting entity - the average exchange rates for 2024 to convert local currency amounts to CAD were as follows:

ARS 681.434; MXN 13.356; PEN 3422.; and XOF 0.002257

UNCLASSIFIED - NON CLASSIFIÉ

Extractive Sector Transparency Measures Act - Annual Report

Reporting Year	From:	1/1/2024	To:		12/31/2024			CAD
Reporting Entity Name			Fortuna Silver Mines Inc.				Currency of the Report
Reporting Entity ESTMA			E929085
Identification Number
Subsidiary Reporting Entities (if
necessary)
					Payments by Project
Country	Project Name1	Taxes	Royalties		Fees	Production Entitlements	Bonuses	Dividends	Infrastructure	Total Amount paid by	Notes23
									Improvement Payments	Project
Côte d'Ivoire	Seguela Mine	32,091,295	26,608,537		575,937	-	402,806	-	-	59,678,574	Payments made in XOF,
											refer to Additional notes for
											conversion assumptions
Burkina Faso	Yaramoko Mine	3,633,488	30,386,990		3,743,213	-	436,778	920,530	-	39,121,000	Payments made in XOF,
											refer to Additional notes for
											conversion assumptions
Mexico	SAN JOSE MINE	2,103,303	3,797,484		1,535,341		766,678		1,548,976	9,751,781
Argentina	Lindero	14,591,018	5,862,116		542,126	-	-	-	-	20,995,259	Payments made in ARS,
											refer Additional notes for
											conversion assumptions
Peru	Caylloma	12,553,768	378,367		569,871	-	-	-	-	13,502,006
Additional Notes3:	The amounts above are all reflected in CAD, the functional currency of the reporting entity - the average exchange rates for 2024 to convert local currency amounts to CAD were as follows:
	ARS 681.434; MXN 13.356; PEN 3422.; and XOF 0.002257