Endeavour Silver Produces 5,672,703 Oz Silver and 37,858 Oz Gold (8.7 Million

, (GLOBE NEWSWIRE) — (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) (“Endeavour” or the “Company”) reports full year 2023 production of 5,672,703 silver ounces (oz) and 37,858 gold oz, for silver equivalent ⁽¹⁾ (“AgEq”) production of 8.7 million oz. Fourth quarter production was 1,396,315 silver oz and 9,440 gold oz for 2.2 million silver equivalent oz.

“We are extremely pleased with our strong Q4 production results, which have been driven by initiatives our Operations team implemented to improve both mine and mill productivity” commented , Chief Executive Officer. He further added, “Implementing these initiatives allowed us to successfully overcome the challenges that affected Q3 production. Not only did Guanaceví’s production return to historical levels, which is expected to be continue into 2024, our recovery plan more than met expectations, allowing us to achieve our annual production guidance with strong fourth-quarter performance. We have now delivered three consecutive years of meeting or exceeding our annual production guidance.”

Q4 Highlights

• Production In-Line with Guidance: Consolidated production in-line with guidance, representing the Company’s third consecutive year of meeting or exceeding production guidance.
• Guanaceví Improved Performance: Silver grades, gold grades and plant throughput slightly exceeded plan. The plant refurbishments and modifications enhance operational flexibility to exceed the historical throughput of 1,200 tonne per day.
• Bolañitos Performance Remained Steady: Increased silver production from higher silver grades with similar throughput was offset by lower gold production due to lower gold grades. The variations in grades quarter from quarter is expected, while annual ore grades were within 2% of annual planned grades.
• Metal Sales and Inventories: Sold 1,332,648 oz silver and 9,417 oz gold during the quarter. Held 476,015 oz silver and 1,411 oz gold of bullion inventory and 11,869 oz silver and 300 oz gold in concentrate inventory at quarter end.
• Encouraging Brownfields Exploration Results from Guanaceví and Bolañitos: Drilling continued to intersect high-grade silver-gold mineralization in the vein at Guanaceví (see news release dated ) and intersected multiple mineralized structures near current workings at Bolañitos (see news release dated ).
• Positive Greenfields Exploration Results from the : Drilled over 6,500 metres testing the San Patricio vein and other regional targets (see news release dated ).
• Appointment of Chief Financial Officer: brings over 20 years’ of experience in accounting, corporate finance, and corporate treasury (see news release dated ).
• At-The-Market Offering for up to : Proceeds to be used for funding development of the Terronera project and other growth initiatives (see news release dated ).

Q4 2023 Mine Operations

Consolidated silver production decreased 23% to 1,406,423 ounces in Q4 2023 compared to Q4 2022, primarily driven by lower silver production at the Guanaceví mine due to a reduction…