About Endeavour Silver

Endeavour Silver Corp. operates as a Canadian mineral company. The company engages in the evaluation, acquisition, exploration, development, and exploitation of precious metal properties in Mexico and Chile and the U.S.A. The company conducts its business primarily in Mexico through subsidiary companies. The company has two producing silver-gold mines in Mexico, such as the Guanaceví Mine in Durango acquired in 2004 and the Bolañitos Mine in Guanajuato acquired in 2007. In addition to operating these two mines, the company is advancing one development and three exploration projects in Mexico: The Terronera property in Jalisco acquired in 2010 that is in the development stage, the prospective Pitarrilla property in Durango State acquired in 2022 and the Parral properties in Chihuahua acquired in 2016. Mineral Projects Guanaceví Mines Project, Durango State, Mexico The Guanaceví Project is in the northwest portion of the Mexican state of Durango, approximately 3.6 km west of the town of Guanaceví and 260 km northwest of the capital city of Durango. The Project consists of 51 mineral concessions for a total property area of 4,171.5546 ha. The company controls the Guanaceví Project through its 100% owned Mexican subsidiary, Endeavour Gold Corporation S.A. de C.V. (Endeavour Gold). Endeavour Gold holds the project through its two 100% owned subsidiaries, Minera Plata Adelante S.A. de C.V. (Minera Plata Adelante) and Refinadora Plata Guanaceví S.A. de C.V. (Refinadora Plata Guanaceví). Bolañitos Mines Project, Guanajuato State, Mexico The Bolañitos Project is in the state of Guanajuato, Mexico. The mine consists of three operating mines: the Bolañitos, Lucero, and Asuncion mines, which are located near the town of La Luz, about 12 km to the northeast of Guanajuato. The company also owns the inactive Cebada mine, located about 5 km north of the city of Guanajuato, and the inactive Golondrinas mine, which is 3.5 km to the southwest of Cebada. Terronera Project, Jalisco State, Mexico The Terronera Project is located 50 km northeast of Puerto Vallarta in Jalisco State, Mexico. Endeavour Silver holds the Terronera Project through its 100% owned Mexican subsidiary, Endeavour Gold Corporation S.A. de C.V. (Endeavour Gold). Endeavour Gold holds the Terronera Project through its 100% owned subsidiaries Terronera Precious Metals S.A. de C.V. (TPM) and Minera Plata Adelante S.A. de C.V. (MPA). The Terronera Project consists of 24 mineral concessions, totalling 17,369 ha all of which are valid and in good standing. Non-Material Properties The company continually evaluates additional silver and gold prospects in Mexico, Chile and the U.S.A., which includes acquiring and disposing of rights to greenfield and brownfield mineral concessions. Four exploration projects are being advanced - Parral (Mexico), Bruner (the U.S.A.), Paloma (Chile) and Aida (Chile) and one exploration project, Guadalupe y Calvo (Mexico) has been optioned to a third party. Parral Properties, Chihuahua State, Mexico In October 2016, the company acquired a 100% interest in the Parral properties located in the historic silver mining district of Hidalgo de Parral in southern Chihuahua state, Mexico. SGM, the Mexican Geological Survey, estimates historic production of approximately 250 million oz of silver from this district. The properties cover 3,432 ha, across three large properties, Veta Colorada, La Pamilla and San Patricio. These properties are accessible by paved highway and a well maintained gravel road only five km north of the city of Hidalgo Del Parral. The area has excellent infrastructure, including grid power, water, labour, services and three nearby 500 tpd (tonnes per day) plants. Paloma Project, Chile The Paloma project is a high-sulphidation, epithermal-style hydrothermal system located in the Chilean Miocene deposit belt, 180 km southeast of the city of Calama, 5,000 metres (m) above sea level. The company has an option to acquire up to 70% ownership of 5,100 hectares (ha) from Compañía Minera del Pacifico. The company's 2021 drill program confirmed widespread alteration and low-grade gold mineralization at its Paloma project. The exploration team analyzed drill results and commenced a second drill program to test targets for higher grade mineralization. The second phase of drilling to test for the possibility of higher grade mineralization and interpretation was completed in the second half of 2022. Aida Project, Chile The Aida project is located in northern Chile Region II along the Argentina border, 180 km southeast of Calama and 60 km southwest of SSR's Pirquitas mine in northern Argentina, accessible by paved highway and dirt road. The town of San Pedro de Atacama is about 110 km west of Aida and has modern infrastructure with a natural gas pipeline that follows the highway, within 22 kilometres (km) of the property. The project concessions cover 7,900 ha total, consisting of three 100% optioned mineral concessions which cover a small historic mine, surrounded by 30 new mineral concessions staked by the company. The project covers a 4 km long x 2 km wide, argillic-phyllic-silicic alteration zone within dacite-andesite tuffs, breccias, flows, siltstones, sandstones and conglomerates intruded by a Miocene rhyo-dacite dome. A drilling program is planned for 2023. Guadalupe y Calvo Project, Chihuahua State, Mexico On February 1, 2021, the company granted an option to purchase a 100% interest in its Guadalupe y Calvo gold-silver exploration project in Chihuahua, Mexico to Ridgestone Mining Inc. (Ridgestone). Pitarrilla Acquisition, Durango State, Mexico On July 6, 2022, the company acquired Pitarrilla project in Durango State, Mexico from SSR Mining Inc (SSR). Pitarrilla is a large undeveloped silver, lead, and zinc project located 160 kilometres north of Durango City, in northern Mexico. The Pitarrilla property consists of 4,950 hectares across five concessions and has significant infrastructure in place with direct access to utilities. History The company was incorporated under the laws of the province of British Columbia in 1981 under the name Levelland Energy & Resources Ltd. and changed its name to Endeavour Gold Corp. in 2002. Further, the company changed its name to Endeavour Silver Corp. in 2004.