Endeavour Silver Corp (EXK)

[Entendance]

***EXK Endeavour Silver Updates Reserves and Resources for Operating Mines
Vancouver, Canada - January 19, 2017 - Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports updated NI 43-101 silver and gold reserve and resource estimates for its three producing mines in Mexico: the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato State, as of December 31, 2016, and restates the 2015 silver and gold resource estimates for its exploration projects. Updated mineral reserve and resource estimates for Endeavour’s Terronera and El Compas properties will be published in conjunction with their respective economic studies in March, 2017.

Proven and probable silver reserves decreased 12% in 2016 compared to 2015, reflecting mining depletion and reduction in mine development capital investments at the three mines last year due to low metal prices early in the year. Measured and indicated silver resources decreased 2% and inferred silver resources declined 18% due to reduced exploration spending at the operations and dropping the Arroyo Seco project. Exploration programs and budgets were focused on the advancement of the Terronera project, where mineral resources are expected to increase compared to 2015. An initial mineral resource estimate is also being prepared for El Compas in an upcoming preliminary economic assessment.

Bradford Cooke, CEO of Endeavour, stated, “The dip in reserves and resources at our three operating mines was a result of our reduced capital and exploration spending last year. Now that metal prices are recovering, we have resumed our investments to find and develop new reserves and resources. Our exploration efforts at the development projects last year were successful in identifying new mineralization, so we anticipate Terronera and El Compas should add to our total resources to be released in March.”

2016 Mineral Reserve and Resource Highlights (Compared to December 31, 2015)
•Silver proven and probable reserves decreased 12% to 10.6 million ounces (oz)
•Gold proven and probable reserves decreased 18% to 91,100 oz
•Silver equivalent proven and probable reserves decreased 12% to 17.4 million oz (75:1 silver:gold ratio)
•Silver measured and indicated resources decreased 2% to 64.2 million oz
•Gold measured and indicated resources increased 1% to 533,700 oz
•Silver equivalent measured and indicated resources increased 2% to 105.1 million oz
•Silver inferred resources decreased 18% to 37.2 million oz
•Gold inferred resources are unchanged at 336,000 oz
•Silver equivalent inferred resources decreased 8% to 64.7 million oz
Godfrey Walton, M.Sc., P.Geo., President and COO of Endeavour, is the Qualified Person who reviewed and approved the technical information contained in these mineral resource estimates. The Independent Qualified Persons for the mineral resource and mineral reserve estimates at Guanaceví, Bolañitos, and El Cubo were Zachary Black, SME-RM, and Jeffery Choquette, P.E., MMSA, of Hard Rock Consulting. Technical reports for Guanaceví, Bolañitos, and El Cubo will be completed and filed on SEDAR in March, 2017.

The mineral resource estimate for Terronera was undertaken by Independent Qualified Persons Eugene Puritch, P.Eng., and Richard Routledge, P.Geo., of P&E Mining Consultants Inc. Mr. Puritch has reviewed and approved the technical content of this press release with respect to Terronera.

The mineral reserve and mineral resource estimates within this press release were classified following the definitions and guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum CIM standards and definitions of mineral resource estimates and mineral reserve estimates as referenced in National Instrument 43-101.

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