Fortuna Silver Mines Inc. reported production results for the fourth quarter and full year of 2011. For the quarter, the company announced silver production of 913,803 ounces, gold production of 4,153 ounces, lead production of 4.4 million pounds and zinc production of 5.69 million pounds. For the year, the company announced silver production of 2.50 million ounces; 31% increase over 2010, gold production of 7,015 ounces; 174% increase over 2010, lead production of 19.7 million pounds; 8% decrease over 2010 and zinc production of 23.4 million pounds; 10% decrease over 2010. For 2012, the company is scheduled to produce 3.7 million ounces of silver and 17,400 ounces of gold production or 4.6 million Ag Eq ounces plus base metal credits. The company anticipates cost pressures to continue; several productivity and cost control initiatives are included in the 2012 operational and capital budgets. The mine is scheduled to produce 1.7 million ounces of silver and 15,000 ounces of gold. Capital projects for mine and plant expansion and a new concentrate leaching facility to produce dore bars stands at $30.7 million. Exploration at San Jose in 2012 will continue to focus on the evaluation and advancement of multiple mineral occurrences outlined through mapping and stream and soil sampling on the 58,000 hectare land package the Company controls in the area surrounding the San Jose Mine. A 15,000 meter drill program has been budgeted for the year to drill test new targets and follow-up on the results of the 2011 program. Caylloma District exploration for 2012 includes 24,000 meters of diamond drilling and 3,500 meters of underground drifting. The program is focused on the evaluation of high-grade silver targets on the 32,000 hectare land package controlled around the mine. These targets include extensions of bonanza-style mineralization in the Bateas Vein and the northeastern and southwestern extensions of the Animas Vein.