Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) announces its financial and operating results for the three and six months ended June 30, 2026.

“Endeavour delivered strong second quarter results, supported by higher production, record ounces sold and improved mine operating cash flow,” said Dan Dickson, Chief Executive Officer. “The successful increase in throughput at Kolpa and our strong cash position provide a solid foundation as we continue to advance our growth initiatives in the second half of the year, while delivering long-term value for our shareholders.”

Q2 2026 Highlights

• Strong Production: Consolidated production of 1,943,955 ounces silver and 10,474 oz gold for a total of 3.4 million oz silver equivalent⁽¹⁾. Q2 production of silver and gold was 31% and 35% higher, respectively, than in the same period in 2025.
• Record Ounces Sold with High Realized Prices: $212.1 million from the sale of 2,054,108 oz of silver and 10,823 oz of gold at average realized prices of $70.16 per oz silver and $4,305 per oz gold as well as from sales of base metals. Revenue from operations was 149% higher than in the same period in 2025.
• Strong Mine Operating Cash Flow: $99.9 million in mine operating cash flow before taxes⁽²⁾, 336% higher than the same period in 2025.
• Steady Operating Costs: Cash costs⁽²⁾ of $23.52 per oz payable silver and all-in sustaining costs (AISC)⁽²⁾ of $36.89 per oz, net of by-product credits, compared to $15.35 and $25.16, respectively, in Q2 2025.

• Strong Cash Position: $236.6 million in cash and $214.4 million in working capital as at June 30, 2026.
• Higher Production Capacity: A significant portion of the plant expansion at Kolpa was commissioned at the end of Q1 2026, resulting in a 36% increase in throughput during Q2 2026 compared to Q1 2026.
• Terronera LNG Plant: The LNG plant began commissioning in June and is now in operation, with mine complex ramp-up through Q3 2026.

Financial Overview

⁽¹⁾ Silver equivalent ratios for 2026 are calculated using 90:1 Ag:Au, 45 silver oz to 1 lead tonne; 61 silver oz to 1 zinc tonne; 238 silver oz to 1 copper tonne. Silver equivalent ratios for 2025 are calculated using 80:1 Ag:Au, 60 silver oz to 1 lead tonne; 85 silver oz to 1 zinc tonne; 300 silver oz to 1 copper tonne.
⁽²⁾ These are non-IFRS financial measures and ratios. Further details on these non-IFRS financial measures and ratios are provided at the end of this press release and in the MD&A accompanying the Company’s financial statements, which can be viewed on the Company’s website, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov.
⁽³⁾ Bolañitos mine was sold January 15, 2026, and the 15-day period from January 1, 2026, to January 15, 2026, is included in the consolidated results above.
⁽⁴⁾ Kolpa was acquired on May 1, 2025. Accordingly, the three- and six-month periods ending June 30, 2025 include two months of operations of the Kolpa mine.

Direct operating costs per tonne in Q2 2026 were $161.73, 14% higher than $142.00 in Q2 2025. The increase in the average cost compared to Q2 2025 was driven by the inclusion of Terronera with higher direct operating costs per tonne than the consolidated average of $169.49 and higher costs at Guanaceví and Kolpa. Underlying costs in Mexico were negatively affected by the Mexican peso being 12% stronger on average during the current period compared to the same period in 2025. In comparison to Q1 2026, which had a similar Mexican peso exchange rate, Q2 2026 costs per tonne were 13% lower. As a result, direct operating costs per tonne in the first half of 2026 were $173.63, compared to $142.30 in 2025.

Consolidated cash costs per silver ounce, net of by-product credits, were $23.52 in Q2 2026, representing a 53% increase from $15.35 in Q2 2025 mainly due to higher metal prices causing higher royalties and third-party material costs. For the three months ended June 30, 2026, cash costs per silver ounce were $22.23 for Kolpa, $40.17 for Guanaceví and $5.07 for Terronera. Cash costs per silver ounce for the six-month period ended June 30, 2026, were $23.03 compared to $15.59 in 2025, a 48% increase driven by the same reasons described above.

Consolidated AISC per silver ounce in Q2 2026 were $36.89, 47% higher than $25.16 in Q2 2025 and in line with Q1 2026. The increase compared to Q2 2025 was predominantly due to higher cash costs and higher sustaining capital expenditures, particularly at Terronera, which was not operating in the comparative period. AISC per silver ounce for the six-month period ended June 30, 2026, were $36.96 compared to $24.85 in 2025, for the same reasons described above.

In Q2 2026, the Company’s mine operating earnings were $74.0 million, higher than the $7.7 million for the same period in 2025, driven by higher metal prices as well as higher volume of silver and gold ounces sold with the addition of Terronera and a full quarter of Kolpa operations. Revenue from operations was $212.1 million, compared to $85.3 million in Q2 2025, while cost of sales, which now include Terronera and a full quarter of Kolpa operations, increased to $138.1 million from $80.9 million.

The Company recorded operating earnings of $64.7 million in Q2 2026 (Q2 2025 – operating loss of $4.8 million) after exploration and evaluation costs of $6.4 million (Q2 2025 – $4.9 million) and general and administrative expenses of $2.9 million (Q2 2025 – $7.6 million). Exploration expenses increased due to additional expenditures on advancing Pitarrilla and exploration work at Kolpa, while general and administrative expenses decreased predominantly due to the $3.6 million acquisition costs ineligible to be capitalized in Q2 2025 and a $1.6 million change in the loss on revaluation of the cash-settled deferred share units liability.

The Company recorded a $21.7 million gain on derivative contract revaluations in Q2 2026 (Q2 2025 – $10.1 million loss). Finance costs increased to $5.7 million (Q2 2025 – $1.1 million), primarily due to a $5.1 million finance charge related to the senior convertible notes issued in December 2025. Investment and other losses of $2.6 million (Q2 2025 – income of $0.7 million) were recorded during the period, largely due to the revaluation of Guanajuato Silver shares received as consideration for the sale of Bolañitos. As a result, earnings before taxes were $79.5 million in Q2 2026, compared to a loss before taxes of $14.6 million in Q2 2025.

This news release should be read in conjunction with the Company’s condensed consolidated interim financial statements for the period ended June 30, 2026, and associated Management’s Discussion and Analysis which are available on the Company’s website, www.edrsilver.com, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov.

About Endeavour Silver 

Endeavour is a mid-tier silver producer with three operating mines in Mexico and Peru and a robust pipeline of exploration projects across Mexico, Chile, and the United States. With a proven track record of discovery, development, and responsible mining, Endeavour is driving organic growth and creating lasting value on its path to becoming a leading senior silver producer.