Endeavour Silver Provides Terronera Progress Update
Endeavour Silver Provides Terronera Progress Update
VANCOUVER, British Columbia, Jan. 08, 2025 -- Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE:
EXK; TSX: EDR) provides an update on the progress at its Terronera project.
The Terronera project experienced delivery delays during December of critical path structural steel components required for the
lower platform construction and tailing filter area installations. This has adversely impacted overall project productivity and
expected commissioning timelines. In light of these delays, management reduced the site workforce over the holiday season
from December 20, 2024 to January 6, 2025 as a cost saving measure. The lower platform construction and filter area
installation is the critical path to wet commissioning, which is now expected in early Q2 2025.
Following Mexico’s lifting of the transport restrictions, critical steel deliveries and installation resumed this week. The
earthworks team has the tailings dam ready for use, and the operational readiness team continues the dry commissioning of
the upper platform. Above ground ore stockpiles, including crushed ore are nearing capacity, while the mine personnel will
continue stope preparation on multiple levels and advancing mine development. Commissioning of the grinding circuit
commenced with SAG and ball mills being successfully tested for multiple hours at full operating speed to check bearing
temperatures, vibrations and lubrication systems under no-load conditions.
Management will provide a Q4 construction update similar to previous quarterly updates later this month, including a photo
gallery and updated site overhead costs to be incurred over Q1 2025.
Don Gray, Chief Operating Officer commented, “Unfortunately, the revised timing of structural steel deliveries coincided with
the holiday season transport restrictions, resulting in supply-chain delivery interruptions and limited availability of key support
technicians. Once it was clear that site productivity would be impacted, we felt it prudent to maintain a smaller workforce and
temporarily reduce manpower costs. This gave our construction team an opportunity to re-charge for the final effort in bringing
Terronera to a successful completion.”
About Endeavour Silver: Endeavour is a mid-tier precious metals company committed 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, which has helped it achieve its goal of becoming a
premier senior silver producer.
Contact Information
Allison Pettit, Director of Investor Relations
Tel: (604) 640 4804
Email: [email protected]
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 applicable Canadian securities legislation. Such forward-looking
statements and information herein include but are not limited to statements regarding the development of the Terronera
project, the anticipated timing of wet commissioning at the Terronera project, the anticipated timing of the Company’s quarterly
construction updates, the Terronera project's forecasted operations, costs and expenditures, and the timing and results of
various related activities. The Company does not intend to and does not assume any obligation to update 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
Endeavor's actual results, level of activity, production levels, performance, or achievements, and its operations to be
materially different from those expressed or implied by such statements. Such factors include but are not limited changes in
production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; national and local
governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA
and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration,
development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature
of mineral exploration and development; risks in obtaining necessary licenses and permits; satisfaction of conditions
precedent to drawdown under the project loan debt facility; the ongoing effects of inflation and supply chain issues on the
Terronera project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the
Mexican peso, Chilean peso, Canadian dollar and US dollar); 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 SEC and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to
the continued operation of the Company's mining operations, no material adverse change in the market price of commodities
forecasted Terronera mine economics as of 2024, mining operations will operate, and the mining products will be completed
under management's expectations and achieve their stated production outcomes, 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, other factors may 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 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.