Endeavour Silver Corp (EXK)

[Entendance]

Endeavour Silver Produces 1,510,065 oz Silver and 15,960 oz Gold (2.7 Million oz Silver Equivalents) in the First Quarter, 2016

VANCOUVER, BC--(Marketwired - April 08, 2016)

Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK) reports its production results for the First Quarter, 2016 from the Company's three operating silver mines in Mexico: the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato State.
Silver production in the First Quarter, 2016 was 1,510,065 ounces (oz) and gold production was 15,960 oz resulting in silver equivalent production of 2.7 million oz using a 75:1 silver gold ratio. Quarterly production was lower both quarter-on-quarter and year-on-year as per the Company's 2016 guidance.
Production Highlights for First Quarter, 2016 (Compared to First Quarter, 2015)
• Silver production decreased 17% to 1,510,065 oz
• Gold production increased 1% to 15,960 oz
• Silver equivalent production was 2.7 million oz (at a 75:1 silver: gold ratio)
• Silver oz sold down 19% to 1,511,319 oz
• Gold oz sold down 3% to 15,255 oz
• Bullion inventory at quarter-end included 88,609 oz silver and 188 oz gold
• Concentrate inventory at quarter-end included 67,690 oz silver and 1,316 oz gold

Endeavour CEO Bradford Cooke commented, "Our plan for 2016 is to focus on profit margin by minimizing all-in sustaining costs and improving after-tax free cash flow at each mine. That means investing less on exploration and development, primarily at El Cubo and Bolañitos, as well as evaluating new opportunities to reduce operating costs at each mine.

"For example, we are encouraged by the initial test results to significantly improve ore grade at El Cubo by reducing waste going into the plant using an optical sorting technology. A pilot test using this technology on El Cubo ore will be completed in the second quarter. We will reconsider investing in exploration and development at El Cubo and Bolañitos once we know operating costs can be lowered further and/or metal prices are materially higher. Until then, we think it is better to produce less metal at a profit than more metal at a loss."

At Guanaceví, throughput in Q1 was slightly behind plan due to reduced mine development as a result of a change in the mining contractor in January. A new mining contractor has been hired and is now on site. Management expects Guanaceví operations will catch up to plan over the next few months. At Bolañitos and El Cubo, throughput, grades and recoveries were generally on plan for Q1.

Infill drilling of the existing resource area at Terronera began in Q1 and is scheduled to be completed this month, at which time the exploration group will turn their attention to aggressive step-out drilling along the Terronera vein and other highly prospective subparallel veins. Further engineering work will also get under way in Q2 as part of the Terrronera pre-feasibility study.

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