AMN - COTE D’IVOIRE: Maiden 415,000-ounce Le Plaque reserve

Endeavour Mining has released a maiden probable reserve of 5.5 million tonnes at 2.34 g/t gold for 415,000 ounces for the Le Plaque discovery at its flagship Ity mine in Cote d'Ivoire. There has been a high conversion rate of 91% for the measured and indicated resources to the probable reserve category.

The maiden reserve, which has a 51% higher grade than the Ity mine reserve grade of 1.55 g/t, is based on the resource published in July 2019 with an updated reserve and resource estimate expected to be published late in the June quarter of 2020.

This will incorporate results obtained from the 25,695 metres of additional reverse circulation (RC) and diamond core drilling conducted in the second half of 2019 and the results of the recently initiated 41,000-metre drill program.

Le Plaque is just 6km south of the Ity processing plant and the permitting process is underway with a mining licence expected to be received in the second half of 2020.

Endeavour Mining president and CEO Sebastien de Montessus said: "We are very pleased with the maiden reserve at Le Plaque, which is significantly higher grade than the current reserve grade at Ity.

"Once again, the exploration team has demonstrated the ability to swiftly unlock exploration value by moving from discovery to production in under three years.

"We are currently updating the Ity mine plan to incorporate both the Le Plaque maiden reserve as well as the 25% increase in plant capacity, following last year's volumetric upgrades.

"We expect the updated technical report to be published in Q2-2020, with the goal of demonstrating that Ity has a +10 year mine life at an average production of circa 250,000 ounces/annum.

"The Ity area continues to be highly prospective and we're planning a further $14 million exploration program totalling approximately 100,000 metres in 2020 to grow the Le Plaque, Bakatouo, extend the Daapleu deposits and test other high priority targets such as Floleu and Samuel."

Endeavour Mining is a TSX-listed intermediate African gold producer with a solid track record of operational excellence, project development and exploration in the highly prospective Birimian greenstone belt in West Africa.

Endeavour is focused on offering near-term and long-term growth opportunities with its project pipeline and its exploration strategy while generating immediate cash flow from its operations.

The company operates two mines across Cote d'Ivoire - Agbaou and Ity - and another two in Burkina Faso - Hounde and Karma.

www.endeavourmining.com