PI Financial Raises Target on FVI

WAYNE HEWGILL, Regulus Resources Inc. (08/30/2010)
"Fortuna Silver released the initial drill results from the Don Luis II vein on the western portion of the Caylloma property in Southern Peru. The new discovery located ~4 km. from the Caylloma mill site, demonstrates the potential of the new area that currently has no mine development land. Highlights include intervals of 3.05m (estimated true width 1.97m) grading 816 g/t Ag and 0.27 g/t Au starting at a depth of 148m and 0.91m grading 255 g/t Ag and 2.58 g/t Au.

We are maintaining our BUY recommendation and are increasing our 12-month target price to $2.70 (from $2.45) to account for the confirmation of the exploration potential on the west side of the Caylloma project."

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