AMN - COTE D’IVOIRE: Fetekro indicated resource up 141%

Endeavour Mining has increased indicated gold resources for the Fetekro greenfield exploration property in Cote d'Ivoire by 141% to 1.2 million ounces. This boosts confidence in the company's ability to achieve its objective of discovering a standalone project through exploration.

There were 35,000 metres drilled on the Lafigue target following the maiden resource estimate in October 2018 which was based on 32,000 metres of drilling.

The indicated resource now stands at 14.6 million tonnes at 2.54 g/t gold for 1.19 million ounces and the grade has improved by 13%. The inferred resource is 900,000 tonnes at 2.17 g/t for 60,000 ounces.

Lafigue deposit extends over an area 2.2km long by 0.6km wide and remains open at depth and towards the southeast and south.

This deposit is amenable to open-pit mining as mineralisation starts at the surface while preliminary metallurgical tests indicate high gold recovery rates of above 95% with a significant portion recoverable by gravity.

At least 30,000 metres of additional drilling is scheduled to begin later this quarter with an updated resource expected to be published in Q2 2020.

Endeavour's president and CEO Sebastien de Montessus said, "We are excited at the value we have created through exploration as we have effectively deployed circa $10 million to generate a resource in excess of 1 million ounces of gold at an attractive grade of over 2.5 g/t.

"Fetekro's resource scale has reached an important milestone as it is now similar in size and grade to that of our Agbaou mine when it started production in 2014. We are therefore eager to advance our exploration efforts to continue to grow the resource base while initiating various environmental and technical studies.

"From a broader perspective, while our immediate focus is on cash flow generation, we are very excited with the internal growth optionality being generated in parallel through our exploration success as it leaves us well poised for future growth."

Endeavour began exploration on the Fetekro property in March 2017, following a strategic assessment of its exploration tenements which ranked the property as a top priority target.

The majority of drilling to-date has focused on the Lafigue target.

A 20,000-metre drilling program is expected to be launched in early 2020 over the nearby Fetekro targets.

www.endeavourmining.com