Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) is pleased to report second quarter 2024 production of 1,312,572 silver ounces and 10,549 gold oz, for silver equivalent ⁽¹⁾ production of 2.2 million oz. Total year-to-date production of 4.4 million AgEq oz is tracking towards the upper range of the full year 2024 production guidance of 8.1 million to 8.8 million silver equivalent ounces.

“Our safe, reliable and consistent production from operations has been key as capital expenditures increase at Terronera. As construction activities are beginning to peak, we have been implementing our business readiness strategy to smoothly transition into operations.” stated Dan Dickson, Chief Executive Officer. “We remain focused on the commissioning of the Terronera mine in Q4 2024 and production in 2025.”

Q2 2024 Highlights

• Guanaceví Reliably Delivering: Throughput and silver production were consistent with plan, while higher gold grades mined and from third-party feed contributed to higher gold production than planned.
• Bolañitos Results Remain Consistent: Strong gold production continued following on from the first quarter of 2024. Silver production continues to be slightly below plan due to lower silver grades and lower silver recovery, while throughput remains steady. Milled grades are expected to have similar variation for the second half of the year.
• Metal Sales and Inventories: Sold 1,217,569 oz silver and 9,887 oz gold during the quarter. A total of 262,160 oz silver and 939 oz gold bullion inventory and 5,860 oz silver and 322 oz gold in concentrate inventory were held at quarter end.
• Published 2023 Sustainability Report entitled “Transformation In Motion”: The Company highlighted progress during the second year of our 2022-2024 Sustainability Strategy (see news release dated May 16, 2024).
• Newly Appointed Director, Angela Johnson: Ms. Johnson is a Professional Geologist, MBA, who brings over thirteen years of experience in the mining industry in both technical and corporate development roles as well as extensive knowledge in ESG best practices (see news release dated April 18, 2024).
• First Drawdown of the Terronera Senior Secured Debt Facility: Proceeds of USD $60M are being used to develop the Terronera mine. An additional USD $60M remains committed and available for future drawdowns during the second half of 2024 (see news release dated April 10, 2024).

Q2 2024 Mine Operations

Consolidated silver production decreased 12% to 1,312,572 ounces in Q2 2024 compared to Q2 2023, primarily driven by variations in grades, specifically lower silver grades at the Guanaceví mine. Gold production increased by 7% to 10,549 ounces in Q2 2024 compared to Q2 2023, primarily due to higher gold grades mined at both Guanaceví and Bolañitos as well as higher gold content in third-party feed processed at the Guanaceví mine.

Local third-party feed continued to supplement Guanaceví mine production, totaling 15% of quarterly throughput. With current prices, management expects local third-party feed to remain above 10% of throughput going forward. The Guanaceví operations are benefiting from the significant plant improvements and modifications made in 2023, as plant throughput and recoveries have been in line with plan and consistent throughout Q2 and year-to-date 2024.

Production Highlights for the Three and Six Months Ended June 30, 2024

Production Tables for Q2 2024 by Mine

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

Production Tables for the Six Months Ended June 30, 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.