ENDEAVOUR ANNOUNCES THE RETIREMENT OF ITS COO, ATTIE ROUX, WHO WILL BE SUCCEEDED BY JEREMY LANGFORD
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Abidjan, July 6, 2 017 - Endeavour Mining (TSX:EDV OTCQX: EDVMF)("Endeavour") is pleased to announce the appointment of Jeremy Langford as Chief Operating Officer, effective from July 17, 2017. Mr. Langford is currently the Executive Vice President of Endeavour's Projects & Technical Services Group and will replace Adriaan "Attie" Roux, who has decided to retire following 7 years with the company. Attie and Jeremy will work together over the coming months to ensure a smooth transition.
Sebastien de Montessus, President & CEO, said: "As part of our succession planning process, I am delighted that Jeremy will be transitioning to the COO role. Like Attie, Jeremy has played a key role in growing the company and has a proven track record with an in-depth technical knowledge of all our operations and projects.
Jeremy will continue to oversee our projects and technical service activities which will allow us to further streamline the group's organization while capturing the synergies from a fully integrated projects and operations team. Given the importance of our project pipeline, we believe that this integration will benefit both the upcoming commissioning of our Houndé Project and the construction of our Ity CIL Project which we anticipate will be built while continuing to run the existing heap leach operation."
"Finally, I would like to also pay tribute to Attie's leadership as he has played an exceptional role in the development of Endeavour over the course of the past 7 years. His outstanding contribution in establishing Endeavour as a strong West African operator is reflected in the improved safety performance, increased production and reduced costs that the company has enjoyed during his time as COO. I wish him all the best for a happy and well deserved retirement after over 41 years in the Mining Industry" added Mr. de Montessus.
ABOUT JEREMY LANGFORD
Jeremy Langford has worked in the gold mining, nickel, iron ore and oil and gas industries for the past 17 years and has held a number of key management positions, which have culminated in his current role of Executive Vice President Projects & Technical Services at Endeavour. Jeremy has been with the company since 2009 and is one our longest serving executives. He has extensive West-African experience and has a long track-record of building projects on-time and on-budget with over 6 projects built and delivered for in the past 12 years. Mr. Langford successfully managed the development and construction of Endeavour's Nzema, Agbaou and Tabakoto expansion projects along with the implementation of the Agbaou Secondary Crushing Circuit Upgrade and Ity CIL DFS delivery in parallel. Currently he is managing the Houndé Project construction, the Karma plant optimization, along with managing technical due diligence duties and overseeing the pre-development of the Ity CIL Project. Prior to joining Endeavour, Jeremy served as Project Director at Ampella Mining, Adamus Resources, and Ausenco Services where he planned, managed and oversaw a number of successful projects in West Africa, including the Sabodala project construction in Senegal. He has previously held senior project construction roles with a number of other resources companies including Northern Iron and Icon Engineering. Jeremy began his career as an engineer with the Royal Australian Navy.
He holds an honours degree in Mechanical Engineering from RMIT University in Melbourne, Australia.
ENDEAVOUR CONTACT INFORMATION
| Martino De Ciccio VP - Strategy & Investor Relations +44 203 640 8665 mdeciccio@endeavourmining.com | DFH Public Affairs in Toronto John Vincic, Senior Advisor (416) 206-0118 x.224 jvincic@dfhpublicaffairs.com Brunswick Group LLP in London Carole Cable, Partner +44 7974 982 458 ccable@brunswickgroup.com |
ABOUT ENDEAVOUR
Endeavour Mining is a TSX-listed intermediate gold producer, focused on developing a portfolio of high quality mines in the prolific West-African region, where it has established a solid operational and construction track record.
Endeavour is ideally positioned as the major pure West-African multi-operation gold mining company, operating 5 mines across Côte d'Ivoire (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2017, it expects to produce between 600koz and 640koz at an AISC of US$860 to US$905/oz. Endeavour is currently building its Houndé project in Burkina Faso, which is expected to commence production in Q4-2017 and to become its flagship low-cost mine with an average annual production of 190koz at an AISC of US$709/oz over an initial 10-year mine life, based on reserves. The development of the Houndé and Ity CIL projects are expected to lift Endeavour's group production to +900kozpa and decrease its average AISC to circa $800/oz by 2019, while exploration aims to extend all mine lives to +10 years.
Corporate Office: 5 Young St, Kensington, London W8 5EH, UK
This news release contains "forward-looking statements" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business. AISC, all-in sustaining costs at the mine level, cash costs, operating EBITDA, all-in sustaining margin, free cash flow, net free cash flow, free cash flow per share, net debt, and adjusted earnings are non-GAAP financial performance measures with no standard meaning under IFRS, further discussed in the section Non-GAAP Measures in the most recently filed Management Discussion and Analysis.
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