Endeavour Silver Reports Record EBITDA, Cash-flow, Revenues in Q3, 2010; Silver Production of 797,000 oz Up 20% Compared to Q3, 2009; Conference Call Scheduled for 10:30 AM PDT on Friday, November 12 _____________________________________________________________________

NEWS RELEASE

Endeavour Silver Reports Record EBITDA, Cash-flow, Revenues in Q3, 2010; Silver Production of 797,000 oz Up 20% Compared to Q3, 2009; Conference Call Scheduled for 10:30 AM PDT on Friday, November 12 _____________________________________________________________________

Vancouver, Canada – November 10, 2010 - Endeavour Silver Corp. (TSX: EDR, NYSE-Amex: EXK, DB-Frankfurt: EJD) announced today its financial and operating results for the Third Quarter, 2010, including record quarterly EBITDA, cash-flow and revenues. Endeavour owns and operates two high-grade, underground, silver-gold mines in Mexico, the Guanacevi Mines in Durango State and the Guanajuato Mines in Guanajuato State.

The financial results are expressed in US dollars (“US$”) and are based on Canadian generally accepted accounting practices (Canadian “GAAP”). Shareholders are referred to the Company’s website for more details: Third Quarter 2010 Financial Statements - http://www.edrsilver.com/s/FinancialStatements.asp and Management Discussion and Analysis (“MD&A”) - http://www.edrsilver.com/s/MDA.asp.

Third Quarter 2010 Highlights (Compared to Q3, 2009)

• Net Earnings climbed from $1.5 million loss to $0.1 million gain
• EBITDA rose 826% to $6.5 million
• Mine operating cash-flow escalated 181% to $10.9 million
• Sales revenues increased 105% to $20.1 million
• Cash costs increased 14% to $5.93 per oz silver produced (net of gold credits)
• Silver production climbed 20% to 797,054 ounces (oz)
• Gold production jumped 28% to 4,607 oz
• Silver equivalent production rose 22% to 1,096,509 oz (65:1 silver: gold ratio, no base metals)
• Plant expansion to 1,000 tonnes per day at Guanacevi now substantially complete
• Acquired three new properties and identified three new silver-gold veins at Guanacevi
• Discovered two new silver-gold veins at Guanajuato
• Commenced new Lucero South access ramp to accelerate development and production of Lucero vein
• Became debt-free with conversion of $10.1 million debentures into 5.3 million units
• Launched all-cash bid to acquire Cream Minerals (since amended)

Bradford Cooke, Chairman and CEO, commented, “Endeavour Silver’s record financial performance in Q3, 2010 can be attributed to our growing silver-gold production, improving cash costs and higher metal prices. Once again, our operating team did an excellent job, as Endeavour remains ahead of schedule on our 2010 production targets and our capital expansion projects for 2010 are now substantially complete.”

“Plant production should climb and cash costs should fall once again in Q4, 2010 as our mining operations approach the 1,000 tonne per day capacity at Guanacevi and the 600 tonne per day capacity at Guanajuato. Both mines now have very healthy ore stockpiles (90,000 tonnes at Guanacevi, 5,000 tonnes at Guanajuato) to facilitate the current phase of production growth.”

“Endeavour’s exploration team also “delivered the goods” in the third quarter, with the successful extension of the Lucero vein and the discovery of two new veins, Karina and Fernanda, at Guanajuato. As a result, management is now considering a substantial mine and mill expansion at Guanajuato for next year.”

“Last but not least, Endeavour amended its offer to acquire Cream Minerals yesterday with the support and recommendation of the Cream Board. If successful, our bid to acquire control of Cream is an integral part of our acquisition growth strategy. Management will remain focused on both organic growth and acquisition opportunities in the Fourth Quarter.”

Financial Results (see Consolidated Statement of Operations)

Sales Revenues increased 181% to $20.1 million in Q3, 2010 (Q3, 2009 - $9.8 million) thanks to sharply higher mineral production and metal prices. The Company sold 849,858 silver oz and 3,550 gold oz at average realized prices of $18.47 per oz and $1,241 per oz respectively. Costs of Sales were up 67% to $10.9 million (Q3, 2009 - $6.5 million) primarily due to the increased production rate.

Mine Operating Cash Flows increased 181% to $9.2 million (Q3, 2009 - $3.3 million) and Mine Operating Earnings rose to $5.3 million (Q3, 2009 – $1.3 million). The Company realized a positive Operating Income of $1.3 million (Q3, 2009 – Loss of $1.1 million), primarily due to higher Mine Operating Earnings. Income Before Tax was $2.2 million (Q3, 2009 – Loss of $1.7 million). The Company incurred an Income Tax Expense of $2.1 million (Q3, 2009 – Recovery of $0.3 million) for Net Earnings of $0.1 million (Q3, 2009 – loss of $1.5 million) for the period.

Cash Operating Costs increased 14% to $5.93 per oz silver produced in Q3, 2010 (Q3, 2009 - $5.19 per oz) primarily due to slightly lower grades and recoveries and minor escalations in costs, partially offset by higher gold production and gold prices. Endeavour reports its cash operating costs according to the Gold Institute reporting guidelines so they include offsite costs such as transportation, smelting and refining, net of byproduct credits.

The Company made Capital Investments totalling $9.9 million in property, plant and equipment during the Third Quarter, 2010. The main focus of the capital expansion programs at Guanacevi continued to be the development of the Santa Cruz and Porvenir Cuatro access ramps, and the expansion of the crushing and other plant circuits. At Guanajuato, mine development continued on the South extensions of the Lucero and Bolanitos veins, and work commenced on the new Lucero South access ramp.

At September 30, 2010, the Company held cash and cash equivalents of $19.6 million and working capital totalled $42.4 million, up from $38.8 million at the end of 2009.

Operating Results (see Consolidated Table of Operations)

Silver production climbed 20% to 797,054 oz and gold production jumped 28% to 4,607 oz in Q3, 2010 compared to Q3, 2009, thanks to higher plant throughput at both Guanacevi and Guanajuato. As a result, silver and equivalent production rose 22% to 1,096,509 oz (65:1 silver: gold ratio, no base metals).

Plant throughputs in Q3, 2010 totalled 126,599 tonnes, up 36% compared to Q3, 2009 due to the benefits of the 2009-10 mine development programs at both operations and the 20% plant expansion at Guanajuato last year. Guanacevi averaged 815 tonnes per day (tpd) and Guanajuato averaged 560 tpd in Q3, 2010.

Consolidated silver grades averaged 265 grams per tonne (gpt) silver (8.5 oz per ton) and gold grades averaged 1.42 gpt gold (0.05 oz per ton), comparable to Q3, 2009. Consolidated silver and gold recoveries were down slightly as a result of processing new ores from the Porvenir Dos mine at Guanacevi and adjusting the ore blend from the Lucero, Bolanitos and Cebada mines at Guanajuato. Work is now underway to try and increase metal recoveries back to previous levels.

Fourth Quarter 2010 Outlook

In Q4, 2010, Endeavour anticipates its financial performance will continue to improve, to reflect significantly higher silver and gold bullion prices and a moderate increase in production. Cash operating costs should continue to trend downward toward the $5.00-$5.50 per oz range, and our profit margin is expected to rise accordingly. As a result, management expects to record its first year of net earnings in 2010.

Silver production remains slightly ahead of schedule for the year. Similar to 2009, the first two quarters of silver production in 2010 were scheduled to be relatively flat, as we focused on mine development and plant expansion capital programs. Silver production started rising again in the Third Quarter, 2010, as the new orebodies under development during the first half of the year at Guanacevi and Guanajuato entered into production.

Guanacevi mine production is scheduled to reach 1,000 tonnes per day (tpd), and Guanajuato mine production is targeting 600 tonnes per day (tpd) in Q4, 2010. Guanacevi currently draws 80% of its ore from the Porvenir Mine and the balance from Porvenir Dos. Both the Porvenir Cuatro and Santa Cruz access ramps were completed ahead of schedule, and both are now in ore development. Work on the new crushing and other existing circuits at the Guanacevi plant is now substantially complete and the plant is nearing full production.

At Guanajuato, the Lucero vein now contributes 80% of the ore production with the balance coming from Cebada and Bolanitos. With last year’s expansion of the Guanajuato plant capacity to 600 tpd, production is still climbing with the development of the ore zones on the Bolanitos and Lucero veins. Plant capacity is expected to be achieved when the new Lucero South access ramp is completed in Q4, 2010.

Exploration expenses should remain constant into the Fourth Quarter, 2010 as Endeavour pushes ahead on its exploration programs at several projects. A total of 10,000 meters of core drilling is planned during the fourth quarter for Guanajuato, Guanacevi, and San Sebastian, as well as surface surveys and target definition work on other properties.

At Guanacevi, the next phase of diamond drilling will be carried out in the San Pedro area. At Guanajuato, drilling continues at Lucero South and will be initiated in the Bolañitos North area.

At Parral, drill results will be assessed and released shortly. At San Sebastian, a Phase 1 drill program will get underway in the Real Alto area to test several prospective targets.

At El Toro, machine trenching, rock sampling & diamond drilling has been completed and assays are pending. At Arroyo Seco, drill results should be released in during the fourth quarter.

Q3, 2010 Conference Call at 10:30 AM PDT, Friday, November 12, 2010

A conference call to discuss the results will be held at 1:30 PM Eastern Time (10:30 AM Pacific Time) on Friday, November 12, 2010. To participate in the conference call, please dial the following:

• 800-319-4610 Canada and USA (Toll-free)
• 604-638-5340 Vancouver Dial In
• 1-604-638-5340 Outside of Canada & USA
• No pass-code is necessary

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada & USA (Toll-free) or 1- 604-638-9010 outside of Canada and USA. The required pass code is 4890 followed by #.

Godfrey Walton, M.Sc., P.Geo., the President and COO, is the Qualified Person who reviewed this news release and oversaw the mining operations. Barry Devlin, M.Sc., P.Geo., the Vice President of Exploration, is the Qualified Person who reviewed this news release and supervised the exploration programs.

Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted five consecutive years of aggressive silver production, reserve and resource growth. The organic expansion programs now underway at Endeavour’s two operating silver mines in Mexico combined with its strategic acquisition and exploration programs should help Endeavour achieve its goal to become the next premier mid-tier silver mining company.

ENDEAVOUR SILVER CORP.

Per:

/s/ "Dan Dickson"

Dan Dickson

Chief Financial Officer

For more information, please contact Hugh Clarke at Toll free: 877-685-9775, tel: (604) 685-9775, fax: (604) 685- 9744, email [email protected] or visit our website, www.edrsilver.com.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include, but are not limited to, statements regarding Endeavour’s anticipated performance in 2010, including silver and gold production, timing and expenditures to develop new silver mines and mineralized zones, silver and gold grades and recoveries, cash costs per ounce, capital expenditures and sustaining capital and the use of proceeds from the Company’s recent financing. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, diminishing quantities or grades of mineral reserves as properties are mined; the ability to successfully integrate acquisitions; risks in obtaining necessary licenses and permits, and challenges to the company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(expressed in thousands of US dollars, except for shares and per share amounts)

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited – Prepared by Management)

(expressed in thousands of U.S. dollars)

CONSOLIDATED BALANCE SHEETS

(expressed in thousands of US dollars)

CONSOLIDATED MINE OPERATIONS