Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK) is pleased to announce that, further to its prospectus offering of common shares of the Company which closed on April 8, 2025, the Underwriters (as defined below) have exercised their over-allotment option, in full, to purchase an additional 1,285,000 Common Shares at a price of US$3.88 per Common Share. Upon closing of the Over-Allotment Option, the Company received additional gross proceeds of US$4,985,800, resulting in total gross proceeds from the Offering of approximately US$50.0 million.

The Offering was led by BMO Capital Markets, as sole bookrunner, together with a syndicate of underwriters consisting of TD Securities Inc. and Raymond James Ltd.

As previously announced, the Company plans to use the net proceeds of the Offering to fund part of the purchase price of the previously announced acquisition of all of the outstanding shares of Compañia Minera Kolpa S.A., and its main asset, the Huachocolpa Uno Mine, from subsidiaries of its shareholders Arias Resource Capital Management and Grupo Raffo, in exchange for total consideration of US$145 million. In the event the Transaction is not completed for any reason, the Company will have discretion with respect to the use of net proceeds from the Offering.

Closing of the Transaction remains subject to Toronto Stock Exchange and New York Stock Exchange regulatory approvals, as well as customary closing conditions, and is expected to occur within 60 days.

About Endeavour Silver Corp.

Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco State, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.