Add-on Acquisition • Metals/Mining

Fortuna Silver Mines Acquires Chesser Resources

On September 20, 2023, Fortuna Silver Mines acquired metals/mining company Chesser Resources

Acquisition Context

This is Fortuna Silver Mines’ 2nd transaction in the Metals/Mining sector.
This is Fortuna Silver Mines’ 1st transaction in Australia.

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M&A Deal Summary
Date	September 20, 2023
Target	Chesser Resources
Sector	Metals/Mining
Buyer(s)	Fortuna Silver Mines
Deal Type	Add-on Acquisition

Target Company

Chesser Resources

Brisbane, Australia

Chesser Resources currently holds ~1,000km2 of highly prospective ground in this underexplored gold region. The Company has corporate offices located in Brisbane and Perth, Australia and a corporate and technical team based in Dakar, Senegal. Diamba Sud, covers an area of 53.2km2 and is located ~2km to the west of the Senegal Mali Shear Zone (“SMSZ”), a major regional structure that host numerous multimillion-ounce world class gold deposits including: B2Gold’s 7.6Moz Fekola mine, Barrick’s 18Moz Loulo-Gounkoto complex and Allied Gold’s Sadiola and Yatela mines.

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Buyer Overview 1

Buyer

Fortuna Silver Mines

Vancouver, British Columbia, Canada

Category	Company
Founded	1990
Sector	Metals/Mining
Revenue	1.1B USD (2024)

DESCRIPTION

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Company primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas. Fortuna Silver Mines was founded in 1990 and is headquartered in Vancouver, British Columbia.

Deal Context for Buyer	#
Overall	2 of 2
Sector: Metals/Mining	2 of 2
Type: Add-on Acquisition	2 of 2
Country: Australia	1 of 1
Year: 2023	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2016-06-07	Goldrock Mines Vancouver, British Columbia, Canada Goldrock Mines Corp. is an emerging gold producer focused on the development of its 100% owned Lindero gold deposit located in Salta province, northwestern Argentina. The company has been granted the primary mining permit by the Salta provincial government allowing the Company to develop the Lindero open pit, heap leach gold mine. The company also has secondary permits in place for process water extraction, road construction, building and electrical permits. In addition, the company has received formal public declaration of support for the Lindero development by a Salta provincial government decree recognizing Lindero as the priority development project for Salta province.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2016-06-07

Goldrock Mines

Vancouver, British Columbia, Canada

Goldrock Mines Corp. is an emerging gold producer focused on the development of its 100% owned Lindero gold deposit located in Salta province, northwestern Argentina. The company has been granted the primary mining permit by the Salta provincial government allowing the Company to develop the Lindero open pit, heap leach gold mine. The company also has secondary permits in place for process water extraction, road construction, building and electrical permits. In addition, the company has received formal public declaration of support for the Lindero development by a Salta provincial government decree recognizing Lindero as the priority development project for Salta province.

Buy

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