VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 26, 2008 -- Fortuna Silver Mines Inc. (CDNX:FVI.V - News): Jorge Ganoza, the President of Fortuna Silver Mines, is pleased to announce that, since the beginning of the year 4.37-million outstanding share purchase warrants, with an exercise price of $1.85, have been exercised for cash proceeds to the Company of approximately CDN$8.1-million dollars.

The Company's share structure is now:

 

Incentive Options               6,915,000
Share Purchase Warrants        12,156,779
Issued Shares                  85,321,659
                              -----------
Fully Diluted Shares          104,393,438

The Company is debt free, and is well financed with a cash position of approximately CDN$46-million.

Fortuna Silver

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Principal assets include 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

Jorge Ganoza Durant, President

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.
     Ralph Rushton
     Investor Relations
     (604) 484-4085
     (604) 484-4029 (FAX)
     Email: info@fortunasilver.com
     Website: http://www.fortunasilver.com