Endeavour Silver Corp. Announces US$40 Million Bought Deal Financing

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Endeavour Silver Corp. Announces US$40 Million Bought Deal

Financing

Vancouver, Canada – March 15, 2022 – Endeavour Silver Corp. (“Endeavour” or the “Company”)

(TSX: EDR, NYSE: EXK) is pleased to announce that it has entered into an agreement with a syndicate

of underwriters (the “Underwriters”) led by BMO Capital Markets and PI Fi nancial Corp., pursuant to

which the U nderwriters have agreed to buy on a bought -deal basis 8,081,000 common shares of the

Company (the “Common Shares”), at a price of US$ 4.95 per Common Share for aggregate gross

proceeds of approximately US$40 million (the “Offering”). The Company has granted the Underwriters an

option, exercisable in whole or in part for a period of 30 days following the closing of the Offering, to

purchase up to an additional 15% of the Common Shares offered under the Offering to cove r over -

allotments, if any.

The principal objectives for use of the net proceeds of the Offering are to pay the US$35 million cash

consideration payable to SSR Mining Inc. at closing in respect of the Company’s acquisition of the

Pitarrilla project in Durango State, Mexico and for the Company’s general corporate purposes and

working capital.

The Offering is ex pected to close on or about March 21, 2022 and is subject to Endeavour receiving all

necessary regulatory approvals and the approval of the Toronto Stock Exchange and the New York Stock

Exchange.

The Common Shares will be offered in all provinces of Canada (except Québec) pursuant to a short form

base shelf prospectus as accompanied by a prospectus supplement and will be offered in the United

States pursuant to a supplement to the Company’s registration state ment on Form F -10 registering the

Common Shares under the United States Securities Act of 1933, as amended, pursuant to the Multi -

Jurisdictional Disclosure System adopted by the United States and Canada. The Common Shares may

also be offered on a private p lacement basis in certain jurisdictions outside of Canada and the United

States pursuant to applicable prospectus exemptions. However, there will not be any sale of Common

Shares in any province, state or jurisdiction in which such offer, solicitation or s ale would be unlawful prior

to registration or qualification under the applicable securities laws of such province, state or jurisdiction.

A final base shelf prospectus containing important information relating to the securities described in this

document has been filed with the securities regulatory authorities in all provinces of Canada (except

Québec). Copies of the final base shelf prospectus, and any applicable shelf prospectus supplement, may

be obtained from BMO Capital Markets for which contact details are provided below. This document does

not provide full disclosure of all material facts relating to the Common Shares. Investors should read the

final base shelf prospectus, the accompanying prospectus supplement and any amendments thereto for

disclosure of those facts, especially risk factors relating to the Common Shares, before making an

investment decision. Investing in the Common Shares involves risk. See “Risk Factors” in the final base

shelf prospectus and in the prospectus supplement. Endeavour has filed a registration statement on Form

F-10 (including a base shelf prospectus) with the U.S. Securities and Exchange Commission (“SEC” for

the Offering. Before you invest, you should read the prospectus supplement relating t o the O ffering, the

base shelf prospectus in that registration statement and other documents Endeavour has filed with the

SEC for more complete information about Endeavour and the Offering. You may get these documents for

free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company, any

Underwriter, or any dealer participating in the Offering will arrange to send you the prospectus or you may

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request it, in Canada from BMO Capital Markets, Brampton Distribution Centre C/O The Data Group of

Companies, 9195 Torbram Road, Brampton, Ontario L6S 6H2 by telephone at 905 -791-3151 Ext 4020 or

by email at [email protected] and in the United States from BMO Capital Markets Corp.

at 3 Times Square, 27 th Floor, New York, NY 10036 (Attn. Equity Syndicate), or toll-free at 800-414-3627

or by email at [email protected]. No securities regulatory authority has either approved or

disapproved of the contents of this news release.

About Endeavour Silver Corp.

Endeavour is a mid -tier precious metals mining com pany that operates two high -grade underground

silver-gold mines in Mexico: the Guanaceví Mine in Durango and the Bolañitos Mine in Guanajuato.

Endeavour is currently advancing the Terronera mine project towards a development decision, pending

financing and final permits and exploring its portfolio of exploration and development projects in Mexico,

Chile and the United States to facilitate its goal to become a premier senior silver producer.

Contact Information

Trish Moran

Interim Head of Investor Relations

Toll free: (877) 685-9775

Tel: (416) 564-4290

Email: [email protected]

Website: www.edrsilver.com

Follow Endeavour Silver Corp. on Facebook, Twitter, Instagram and LinkedIn

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 the intended use of proceeds and the scheduled closing date of the

Offering. 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 ac tual 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, uncertainty of the ultima te impact of the COVID -19 pandemic on

operations, 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 mini ng activities; risks and hazards of mineral exploration, development

and mining; metal prices; the speculative nature of mineral exploration and development, risks in

obtaining necessary licenses and permits, and challenges to the Company’s title to proper ties; as well as

those fact ors described in the section “Risk F actors” contained in the Company’s most recent form

40F/Annual Information Form filed with the SEC and Canadian securities regulatory authorities.

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Forward-looking statements are based on assumptions management believes to be reasonable, including

but not limited to: the continued operation of t he Company’s mining operations, the impact of the COVID -

19 pandemic on mining operations in Mexico generally, and the Company’s operations specifica lly, no

material adverse change in the market price of commodities, mining operations will operate and the

mining products will be completed in accordance with management’s expectations and achieve their

stated production outcomes, resource and reserve est imates, metal prices, and such other assumptions

and factors as set out herein. 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.