Endeavour Silver’s Remarkable Year: 4.47 Million Ounces of Silver

Endeavour Silver Reports Impressive Production Results for 2024

Vancouver, British Columbia – Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) has announced a remarkable full-year production of 4,471,824 ounces of silver and 39,047 ounces of gold, equating to a total of 7.6 million ounces of silver equivalent. The fourth quarter was especially strong, accounting for 824,529 ounces of silver and 9,075 ounces of gold, contributing to 1.6 million ounces of silver equivalent.

Chief Executive Officer’s Insights on Production Performance

Dan Dickson, CEO of Endeavour, expressed confidence regarding their recent production performance, particularly in light of the obstacles faced during the year. "Following a setback due to the Guanaceví trunnion failure in August, we are pleased with the fourth quarter outcomes, which ultimately met the upper limit of our production guidance," he stated. The commitment of the team during the 15-week recovery period was paramount to restoring operations and enhancing the mine’s processing capabilities.

Fourth Quarter Production Highlights

Production Achievements

The Guanaceví mine faced production constraints from August to December, yet recovered to full operational capacity by December. In this quarter, silver production reached 718,797 ounces, with gold contributions at 2,622 ounces, indicating a solid recovery trajectory.

Bolañitos Mine Contributions

The Bolañitos mine showed strong production alignment with expectations, maintaining steady throughput while gold grades exceeded plans. However, silver production underperformed due to lower yields.

Sales and Inventory Management

During the fourth quarter, metal sales included 654,519 ounces of silver and 8,343 ounces of gold. Year-end inventories comprised a combination of both bullion and concentrate products.

Financial Strategies and Recovery Plans

New Financing Initiatives

Endeavour secured financing of US$73 million through a bought deal to bolster operational capacities and to progress the Pitarrilla Project. These funds are essential for maintaining general working capital and advancing the company’s future growth initiatives.

Operational Improvements

After addressing the trunnion failure, the Guanaceví plant resumed full operational capacity of 1,200 tonnes per day. The trunnion's fabrication and installation costs came to US$400,000, a necessary investment for ensuring sustainable operations and productivity.

Production Metrics Overview

In December, the consolidation of data showcased a significant decrease in production when compared to the previous year. Silver production declined by 41% to 824,529 ounces, attributed mainly to the performance at Guanaceví. Gold production experienced a milder drop of 6%, yet the company reported higher gold grades that partially offset these declines.

Production Tables for 2024

The tables provided below summarize production figures for the three and twelve months ending on December 31, showing marked changes across various metrics:

Summary of Production

2024 has been a year of challenges yet also an opportunity for growth for Endeavour Silver. With a steady dedication to improving mining practices and overcoming difficulties, the company looks forward to 2025 and beyond.

About Endeavour Silver Corp.

Endeavour Silver is recognized as a mid-tier precious metals producer, emphasizing sustainable mining practices. Their operational footprint spans multiple regions, with a strategic focus on enhancing their production capabilities and engaging with the communities they serve.

2024 Financial Review and Interaction

The company plans to release its annual financial results soon and will follow up with a conference call to discuss these outcomes in detail, underscoring their commitment to transparency and stakeholder engagement.

Contact Information

For further inquiries, please contact Allison Pettit, Director of Investor Relations at Endeavour Silver.
Email: apettit@edrsilver.com
Website: www.edrsilver.com

Frequently Asked Questions

What were Endeavour Silver's total production numbers for 2024?

Endeavour Silver produced 4,471,824 ounces of silver and 39,047 ounces of gold for an equivalent of 7.6 million silver equivalent ounces in 2024.

How did the fourth quarter compare to previous quarters?

The fourth quarter showed resilience with production hitting 824,529 ounces of silver and 9,075 ounces of gold following earlier challenges faced.

What factors contributed to the production adjustments?

A trunnion failure at the Guanaceví mine impacted the production capacity, but operations fully recovered towards the end of the year.

What steps is Endeavour taking to improve production efficiency?

The company engaged in strategic investments to restore operations and is focused on enhancing mining practices to optimize future production outputs.

When can stakeholders expect the next financial results?

The annual financial results for 2024 will be released shortly, followed by a conference call for detailed discussions with management.

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