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

Mineral Reserve and Resource Estimates at December 31, 2016

Silver-Gold Proven and Probable Reserves
Tonnes Ag g/t Au g/t Ag Eq g/t Ag oz Au oz Ag Eq oz
Guanaceví 87,000 247 0.49 284 686,200 1,400 789,000
Bolañitos 157,000 90 2.84 311 456,700 14,300 1,531,200
El Cubo 409,000 154 1.99 295 2,028,900