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Resource World - October-November 2018 - Vol 16 Issue 6

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O C T O B E R / N O V E M B E R 2 0 1 8 www.resourceworld.com 55 MINING g/t silver and 11.40 g/t gold (721,000 oz. contained silver and 52,000 oz. contained gold). The mine plan was also optimized in the 2018 PFS to an initial production rate of 750 tonnes per day (tpd) during the first two years of operations, then expanding to 1,500 tpd in the third year. The cur - rent 9.5-year mine life envisions a total throughput of 4.7 million tonnes with average grades of 224 g/t silver and 2.26 g/t gold. Average recoveries are estimated at 84.6% for silver and 80.4% for gold. Total Life-of-Mine (LOM) production is anticipated to be 27.9 million oz of payable silver and 268,000 oz of payable gold. The story does not end there. According to the 2018 PFS, there is still room for improvement. Specifically, more resources can be added via exploration drilling on the Terronera vein and other nearby veins. Subsequently, a revised mine plan would be required to incorporate new resources. The crushing and grinding circuits can be optimized to improve overall recover - ies and power consumption. Alternative power options are also being examined. Grid power vs. a Liquid Natural Gas facility plus solar and diesel power are being considered to reduce capital costs. Currently the PFS has incorporated grid power into the mine plan. Endeavour has already secured US $35.7 million at the market financing, which is earmarked for the new mine. Once final approvals are in hand, debt financing will be arranged to cover the remaining 2/3 of the capital costs. Endeavour Silver currently has four high-grade, silver-gold mines in Mexico that together are expected to produce 10.2 to 11.2 million ounces of silver equivalent in 2018. The Terronra Project is now in the development stage and Endeavour has three additional promising Mexican precious metal exploration projects – Parral, Lourdes and Guadalupe Y Calvo – in its stable. The company has US $58.9 million in working capital and no debt with a market capital - ization of about US $305 million. n

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