Enduro Reports Q2 2021 Financial Results
Enduro Reports Q2 2021 Financial Results
May 31st, 2021, Kelowna, British Columbia – Enduro Metals Corporation (TSXV: ENDR OTCQB:
ENDMF FSE: SOG-FF) (“Enduro Metals” or the “Company”) is pleased to report its unaudited interim
consolidated financial results for the second quarter ended March 31, 2021. These Interim Consolidated
Financial Statements and Management and Discussion and Analysis (MD&A) are available on the
Company’s website at www.endurometals.com/financials and on SEDAR at www.sedar.com.
Second Quarter ended March 31, 2021 - Financial Highlights
Cash balance of $3.9 million ()
Working capital of $4.0 million
BC Mining Exploration Tax Credit refund of $1.5 million (subsequent to March 31, 2021)
Total assets of $22.1 million
Reduction in total liabilities by $1.5 million compared to $1.9 million at September 30, 2020
Reduction in operating costs by $0.25 million compared to Q2 2020.
“I am pleased with our financial position at the end of Q2 2021. Our team of professionals share a
passion for moving our projects forward which requires carefully managing our financial resources to
provide us with the best chance of finding our next big discovery,” stated Cole Evans,” President and CEO
of Enduro. We have achieved a strong balance sh eet and managed our operat ing expenses carefully.
With Q2 behind us, we are now well positioned to commence an exciting 2021 exploration season.”
About Enduro Metals
Enduro Metals is an exploration company focused on it’s flagship Newmont Lake Project; a total
638km2 property located between Eskay Creek, Sn ip, and Galore Creek within the heart of
northwestern British Columbia’s Golden Triangle. Enduro entered into an option agreement to
acquire 436km2 from Romios Gold Resources who has ca refully amalgamated the area since 2005
from numerous smaller operators. Remaining te rms on the option agreement are a $1,000,000 CAD
cash payment, and issuance of 4 million Common Shares to Romios Gold Resources. Romios will
retain a 2% Net Smelter Returns Royalty (an “NSR ”) on the Newmont Lake Project, or on any after-
acquired claims within a 5 km radius of the origin al boundary of the project, which may be reduced
at any time to a 1% NSR on the payment of $2 million per 0.5% NSR.
The remaining 202km 2 is owned 100% by Enduro and was acquired via staking or cash purchase.
Building on prior results, the Company’s geological team have outlined 4 deposit environments of
interest across the Newmont Lake Project includin g high-grade epithermal/skarn gold with the
recent discovery of porphyry mineralization underneath the deposit along the McLymont Fault,
copper-gold alkalic porphyry mineralization a t B u r g u n d y a n d 7 2 Z o n e s , h i g h - g r a d e
epithermal/skarn silver/zinc at Cuba, and a larg e 9km x 4km geochemical anomaly hosting various
gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi
Corridor.
On Behalf of the Board of Directors,
ENDURO MET ALS CORPORATION
“Cole Evans”
President/CEO
For further information please contact:
Sean Kingsley – Director of Communications
Tel: +1 (604) 440-8474
Email: [email protected]
As a continued effort to keep investors, interested parties and stakeholders updated, we have launched
new communication initiatives. If you have any qu estions online (Twitter, Facebook, LinkedIn, or
Instagram) feel free to send direct messages or a post and include the hashtag #askENDR.
To book a one-on-one 30-minute Zoom video call directly click here:
https://endurometals.youcanbook.me
Website: https://www.endurometals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning of
applicable Canadian and United States securities legislation (collectively herein referred to as “forward-looking
information”). Such forward looking statements invo lve known and unknown risks, uncertainties and other
factors that may cause Enduro’s actual results, performance or achievements, or developments in the industry
to differ materially from the anticipated results, perf ormance or achievements expressed or implied by such
forward-looking statements. Forward looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may,"
"could" or "should" occur.
Forward-looking statements in this document includes st atements, but is not limited to results, analyses and
interpretations of exploration and drilling programs ; our grassroots exploration program, our mining
(including mining methods), expansion, exploration, and development activities, geological and mineralization
interpretations and the plans, results, costs, and timing thereof. Although Enduro believes the forward-looking
information contained in this news release is reasonable based on information available on the date hereof, by
their nature forward-looking statements involve assu mptions, known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements.
Examples of such assumptions, risks and uncertaintie s include, without limitation, assumptions, risks and
uncertainties associated with general economic conditions the effect of a pandemic and particularly the COVID-
19 outbreak as a global pandemic on the Company’s business, financial condition and results of operations and
the impact of the COVID-19 outbreak on our workforce, suppliers and other essential resources and what effect
those impacts, if they occur, would have on our bu siness, financial condition and results of operations;
assumptions regarding expected capital costs, operat ing costs and expenditures, production schedules,
economic returns and other projections; ; adverse in dustry events; future legislative and regulatory
developments in the mining sector; the Company’s ability to access sufficient capital from internal and external
sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada
and generally; the ability of Enduro to implement its business strategies; competition; and other assumptions,
risks and uncertainties.
This list is not exhaustive of the factors that may affe ct any of our forward-looking information. Although we
have attempted to identify important factors that could cause actual results, actions, events, conditions,
performance, or achievements to differ materially from those contained in forward-looking information, there
may be other factors that cause results, actions, events, conditions, performance, or achievements to differ from
those anticipated, estimated or intended.
The forward-looking information contained in this news release represents the expectations of the company
as of the date of this news release and, accordingly, is subject to change after such date. Readers should not
place undue importance on forward-looking information and should not rely upon this information as of any
other date. While the Company may elect to, it does not undertake to update this information at any particular
time except as required in accordance with applicable laws.
For US Investors
Enduro Metals cautions that this release has been prepared in accordance with the requirements of the
securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Information
included in this media release have been prepared in accordance with Canadian National Instrument 43-101
Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the Canadian
Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and
technical information concerning mineral projects. Canadian standards, including NI 43-101, differ
significantly from the requirements of the United St ates Securities and Exchange Commission (SEC) and
information contained herein may not be comparable to similar information disclosed by U.S. companies.