Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) reports full year 2024 production of 4,471,824 silver ounces and 39,047 gold oz, for silver equivalent⁽¹⁾ production of 7.6 million oz. Fourth quarter production was 824,529 silver oz and 9,075 gold oz for 1.6 million AgEq oz.

“After operating at reduced capacity due to the Guanaceví trunnion failure in August, and subsequently resuming full capacity in December, we are satisfied with our production performance in Q4 and producing at the top range of our updated production guidance,” said Dan Dickson, Chief Executive Officer. “The team demonstrated exceptional diligence and commitment throughout the 15 week recovery period, ensuring the timely fabrication and installation of the trunnion while maintaining seamless operations and bringing Guanaceví’s plant back to its historical levels of 1,200 tonnes per day.”

Q4 2024 Overview

• Production At Higher End of Updated Guidance: Lower Guanaceví production from August to December due to a trunnion failure of the primary ball mill (see news release from December 17, 2024). Production resumed to full capacity in December and Q4 2024 production amounted to 718,797 silver ounces and 2,622 gold ounces.
• Bolañitos Provides Strong Results: With throughput remaining steady, silver equivalent oz produced were in line with plan. Gold production remained above plan, driven by higher gold grades. Conversely, silver production remained below plan due to lower silver grades.
• Metal Sales and Inventories: Sold 654,519 silver oz and 8,343 gold oz during the fourth quarter. A total of 276,477 silver oz and 1,220 gold oz of bullion inventory and 4,216 silver ounces and 296 gold oz in concentrate inventory were held at year end.
• Bought Deal Financing of US$73 Million: Proceeds to be used for general working capital and the advancement of the Pitarrilla Project (see news release from November 27, 2024).

Q4 2024 Mine Operations

In December, Guanaceví processing resumed to full capacity after the trunnion failure in August. After a 15 week period of operating at a reduced capacity averaging 620 tonnes per day (“tpd”), the newly fabricated trunnion was installed on schedule on November 30, with alignment testing occurring over the ensuing two weeks, restoring the plant to its designed capacity of 1,200 tpd. The total cost of fabrication and installation was US$400,000.

Consolidated silver production decreased 41% to 824,529 ounces in Q4 2024 compared to Q4 2023, primarily driven by 25% lower throughput caused by reduced operating capacity at Guanaceví after the trunnion failure in August. Gold production decreased by 6% to 9,075 ounces in Q4 2024 compared to Q4 2023, primarily due to the decrease in throughput, partially offset by higher gold grades mined at both Guanaceví and Bolañitos as well as higher gold recoveries.

¹ Silver equivalent (AgEq): AgEq is calculated using an 80:1 silver:gold ratio. Ounces are troy ounces.

Production Highlights for the Three and Twelve Months Ended December 31, 2024

Production Tables for the Three Months Ended December 31, 2024 by Mine

Production Tables for the Twelve Months Ended December 31, 2024 by Mine

gpt = grams per tonne
Totals may not add up due to rounding

About Endeavour Silver

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.

Qualified Person

Dale Mah, P.Geo., Vice President Corporate Development, a qualified person under NI 43-101, has approved the scientific and technical information related to operations matters in this news release.