Endeavour Silver Announces Q3 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today

VANCOUVER, British Columbia, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three and nine months ended September 30, 2025. All dollar amounts are in US dollars ($). “Endeavour Silver delivered a strong third quarter, highlighted by a significant increase in production and robust revenue growth,” commented Dan Dickson, Chief Executive Officer. “With silver equivalent production up 88% year-over-year and operating cash flow more than doubling, we continue to demonstrate the strength of our mining operations and our team’s commitment to operational excellence. With the recent achievement of commercial production at Terronera in October, we are excited about the Company’s future growth and the combined performance of our four operating mines in the coming quarters.” Q3 2025 Highlights Increased Production Output and Capacity: 1,766,926 ounces (“oz”) silver and 7,285 oz gold for 3.0 million oz of silver equivalent (“AgEq”)(1). Production was 88% higher than the same period in 2024 and excludes Terronera. Higher oz Sold with Higher Realized Prices: $94.5 million from the sale of 1,762,484 oz of silver and 7,478 oz of gold at average realized prices of $38.58 per oz silver and $3,550 per oz gold. Revenue from operations is 77% higher than in the same period in 2024. Strong Mine Operating Cash Flow: $39.7 million in operating cash flow before working capital changes(2), 102% higher than the same period in 2024. Operating Costs Impacted by Higher Realized Prices: Cash costs(2) of $18.09 per oz payable silver and all-in sustaining costs(2) of $30.53 per oz, net of by-product credits were 59% and 18% higher, respectively, than the same period in 2024, partially driven by the impact of higher royalties, higher profit participation and higher cost of third-party mineralized material. Strong Cash Position: $57.0 million in cash as of September 30, 2025. Higher Adjusted EBITDA: Adjusted EBITDA of $28.2 million compared to $13.9 million in the same quarter in 2024 due higher metal prices, the new contribution from Kolpa and the negative impact of the Trunnion failure in Q3 2024. Terronera Declares Commercial Production: During the third quarter, the plant experienced only eight days of downtime, while consistently exceeding an average of 90% of the designed nameplate capacity of 2,000 tonnes per day, and metal recoveries of at least 90% projected, therefore commercial production was announced effective October 1, 2025.  (See news release dated October 16, 2025 here). Financial Overview Three Months Ended September 30 Q3 2025 Highlights Nine months Ended September 30 2025 2024 % Change   2025 2024 % Change       Production       1,766,926 874,717 102% Silver ounces produced 4,456,455 3,647,295 22% 7,285 9,290 (22%) Gold ounces produced 23,379 29,972 (22%) 5,664 - - Lead tonnes produced 9,167 - - 3,666 - - Zinc tonnes produced 5,982 - - 3,037,156 1,617,925 88% Silver equivalent ounces produced(1) 7,438,645 6,045,055 23% 18.09 11.35 59% Cash costs per silver ounce(2) 16.58 12.83 29% 28.95 18.65 55% Total production costs per ounce(2) 26.43 19.41 36% 30.53 25.82 18% All-in sustaining costs per ounce(2) 27.19 23.10 18% 400,245 175,065 129% Processed tonnes 913,580 615,848 48% 144.88 138.54 5% Direct operating costs per tonne(2) 145.91 137.90 6% 192.78 189.85 2% Direct costs per tonne(2) 198.92 187.95 6%       Financial       111.4 53.4 109% Revenue from operations ($ millions) 260.2 175.4 48% 1,762,484 1,017,392 73% Silver ounces sold 4,441,848 3,991,055 11% 7,478 9,412 (21%) Gold ounces sold 23,722 30,179 (21%) 38.58 29.63 30% Realized silver price per ounce 35.07 26.71 31% 3,550 2,528 40% Realized gold price per ounce 3,308 2,328 42% 31.5 - - Pre-operating production revenue ($ millions) 34.8 - - 722,130 - - Pre-operating production silver equivalent ounces sold(1) 807,841 - - (42.0) (17.3) (143%) Net earnings (loss) ($ millions) (95.3) (32.5) (193%) (2.1) 1.6 (231%) Adjusted net earnings (loss) ($ millions)(2) (11.5) 0.9 (1,384%) 15.6 12.5 25% Mine operating earnings ($ millions) 36.2 34.3 5% 39.7 19.6 102% Mine operating cash flow before taxes ($ millions)(2) 84.6 59.1 43% 13.6 4.5 205% Operating cash flow before working capital changes(2) 36.3 21.5 69% (12.6) (5.6) (126%) EBITDA ($ millions)(2) (29.3) 5.7 (617%) 28.2 13.9 103% Adjusted EBITDA ($ millions)(2) 54.1 42.0 29% (56.1) 29.4 (291%) Working capital ($ millions)(2) (56.1) 29.4 (291%)       Shareholders       (0.14) (0.07) (100%) Earnings (loss) per share – basic ($) (0.34) (0.14) (143%) (0.01) 0.01 (200%) Adjusted earnings (loss) per share – basic ($)(2) (0.04) 0.00 (100%) 0.05 0.02 150% Operating cash flow before working capital changes per share(2) 0.13 0.09 44% 291,373,472 246,000,878 18% Weighted average shares outstanding 279,183,612 238,827,655 17% (1) Silver equivalent (AgEq) is calculated using an 80:1 Ag:Au ratio, 60:1 (Ag:Pb) ratio, 85:1 (Ag:Zn) ratio and 300:1 (Ag:Cu) ratio. (2) These are non-IFRS financial measures and ratios. Further details on these non-IFRS financial measures and ratios are provided at the end of this press release and in the MD&A accompanying the Company’s financial statements, which can be viewed on the Company’s website, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Direct operating costs per tonne in Q3 2025 increased to $144.88, slightly higher than $138.54 in Q3 2024. This increase was caused by the addition of Kolpa which incurs relatively higher direct operating costs per tonne, and higher direct operating costs per tonne at Bolañitos as a result of lower throughput. Consolidated cash costs per silver ounce, net of by-product credits, were $18.09 in Q3 2025, a 59% increase compared to $11.35 in Q3 2024. The increase was primarily driven by a shift in the ratio of silver to gold production at Bolañitos and Guanaceví, with lower grades of gold leading to lower by-product credits and therefore higher cash costs net of by-product credits. The impact of higher realized prices is also observed as higher royalty costs, higher profit participation costs, and higher costs of purchased third-party material negatively impacted the underlying cash costs. Furthermore, the volume of third-party material purchased was 87% higher in the current period compared to the same period in 2024, which negatively impacts the underlying cash costs, but drives a higher quantity of ounces being produced. All-In Sustaining Costs (AISC) per silver ounce in Q3 2025 were $30.53, 18% higher than $25.82 in Q3 2024. This increase was driven by a higher AISC at Bolañitos, caused by higher cash costs net of by-product credits, as well as higher corporate general and administrative costs which are allocated to the operations based on their share of silver equivalent ounces produced. The higher corporate general and administrative costs in Q3 2025 were caused by the $2.7 million revaluation of the Deferred Share Units (“DSUs”) due to the higher share price that increases the liability value of cash-settled DSUs held by the Company’s independent directors. In Q3 2025, the Company’s mine operating earnings were $15.6 million (Q3 2024 – $12.5 million) from revenue of $142.8 million (Q3 2024 – $53.4 million) and cost of sales of $127.2 million (Q3 2024 – $41.0 million). The improvement in mine operating earnings is due to higher operating earnings at Bolañitos and Guanaceví driven by higher realized metal prices, as well as the additional contribution of $3.9 million in operating earnings from Kolpa. These earnings are offset by Terronera’s operating loss of $3.6 million during the commissioning period. The increase in cost of sales compared to the prior period was driven by an additional $35.1 million from Kolpa, and $35.1 million from Terronera. In Q3 2025, the Company had operating earnings of $1.8 million (Q3 2024 – earnings of $3.8 million) after exploration, evaluation and development costs of $7.3 million (Q3 2024 – $4.7 million), and general and administrative expenses of $6.5 million (Q3 2024 – $4.0 million). Exploration expenses increased as work began post-acquisition at Kolpa in Q2 2025, which was not incurred in the comparative period. As noted above, the increase in general and administrative expenses is primarily due to a $2.7 million revaluation of DSUs, which was $2.1 million higher than Q3 2024. The loss before taxes for Q3 2025 was $37.5 million (Q3 2024 – loss of $13.3 million) after a loss on derivative contracts of $39.0 million (Q3 2024 – $19.4 million), partially offset by a foreign exchange gain of $0.6 million (Q3 2024 – loss of $3.1 million), investment and other income of $0.2 million (Q3 2024 – income of $5.9 million), and finance costs of $1.0 million (Q3 2024 – $0.5 million). The outstanding derivative contracts for gold, silver, and the Mexican peso were revalued at the end of the period and the higher precious metal prices drove a larger derivative liability fair value, thereby generating a $39.0 million derivative loss for the period. The Company realized a net loss for the period of $42.0 million (Q3 2024 – net loss of $17.3 million) after an income tax expense of $4.5 million (Q3 2024 – $4.0 million). The deferred tax recovery was $6.2 million (Q3 2024 – $0.5 million), derived from changes in temporary timing differences between accounting and tax recognition. Adjusted net loss was $2.1 million compared to adjusted net earnings of $1.6 million in Q3 2024, largely due to the largely due to the $5.7 million comparative difference in investment and other category partially offset by the higher mine profitability. This news release should be read in conjunction with the Company’s condensed consolidated interim financial statements for the period ended September 30, 2025, and associated Management’s Discussion and Analysis (“MD&A”) which are available on the Company’s website, www.edrsilver.com, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Conference Call Management will host a conference call to discuss the Company’s Q3 2025 financial results today at 10:00am Pacific (PST)/ 1:00pm Eastern (EST). Date:   Friday, November 7, 2025       Time:   10:00am Pacific (PST) / 1:00pm Eastern (EST)       Telephone:   Canada & US +1-833-752-3348 International +1-647-846-2804       Replay:   Canada/US Toll Free +1-855-669-9658 International +1-412-317-0088 Access code is 8825809 To access the replay using an international dial-in number, please click here. The replay will also be available on the Company’s website at www.edrsilver.com. About Endeavour Silver – Endeavour is a mid-tier silver producer with four operating mines in Mexico and Peru and a robust pipeline of exploration projects across Mexico, Chile, and the United States. With a proven track record of discovery, development, and responsible mining, Endeavour is driving organic growth and creating lasting value on its path to becoming a leading senior silver producer. Contact Information Allison Pettit, Vice President, Investor Relations Tel: (877) 685 - 9775 Email: [email protected] Website: www.edrsilver.com Endnotes 1Silver equivalent (AgEq) AgEq is calculated using an 80:1 Ag:Au ratio, 60:1 (Ag:Pb) ratio, 85:1 (Ag:Zn) ratio and 300:1 (Ag:Cu) ratio. 2Non-IFRS and Other Financial Measures and Ratios Certain non-IFRS and other non-financial measures and ratios are included in this press release, including cash costs per silver ounce, total production costs per ounce, all-in costs per ounce, AISC per ounce, direct operating costs per tonne, direct costs per tonne, silver co-product cash costs, gold co-product cash costs, realized silver price per ounce, realized gold price per ounce, adjusted net earnings (loss) adjusted net earnings (loss) per share, mine operating cash flow before taxes, working capital, operating cash flow before working capital adjustments, operating cash flow before working capital changes per share, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA per share, sustaining and growth capital and adjusted net earnings (loss). Please see the September 30, 2025 MD&A for explanations and discussion of these non-IFRS and other non-financial measures and ratios. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards (“IFRS”), provide management and investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Certain additional disclosures for these non-IFRS measures have been incorporated by reference and can be found in the section “Non-IFRS Measures” in the September 30, 2025 MD&A available on SEDAR+ at www.sedarplus.com. ReconciliationofWorkingCapital Expressed in thousands of US dollars As at September 30, 2025 As at December 31, 2024 Current assets   $207,931   $157,647 Current liabilities   263,989   78,866 Working capital surplus (deficit)   ($56,058)   $78,781 Reconciliation of Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share Expressed in thousands US dollars Three Months Ended September 30 Nine Months Ended September 30   2025 2024 2025 2024 Net earnings (loss) for the period per financial statements ($41,956) ($17,300) ($95,318) ($32,501) Unrealized foreign exchange (Gain) loss (1,325) 1,445 (3,852) 3,777 Gain (loss) on derivatives, copper stream and contingent liabilities revaluations 38,939 17,109 80,958 26,362 Acquisition costs - - 3,602 - Change in fair value of investments (501) (109) (822) 1,177 Change in fair value of cash settled DSUs 2,742 454 3,962 2,078 Adjusted net earnings (loss) ($2,101) $1,599 ($11,470) $893 Basic weighted average share outstanding 291,373,472 246,000,878 279,183,612 238,827,655 Adjusted net earnings (loss) per share ($0.01) $0.01 ($0.04) $0.00 Reconciliation of Mine Operating Cash Flow Before Taxes Expressed in thousands US dollars Three Months Ended September 30 Nine months ended September 30   2025 2024 2025 2024 Mine operating earnings per financial statements $15,609 $12,483 $36,195 $34,335 Share-based compensation 132 73 302 226 Depreciation 23,915 7,032 48,131 24,548 Mine operating cash flow before taxes $39,656 $19,588 $84,628 $59,109 Reconciliation of Operating Cash Flow Before Working Capital Changes and Operating Cash Flow Before Working Capital Changes Per Share Expressed in thousands US dollars Three Months Ended September 30 Nine Months Ended September 30 (except for per share amounts) 2025 2024 2025 2024 Cash from (used in) operating activities per financial statements $27,052 $8,467 $51,978 $23,963 Net changes in non-cash working capital per financial statements 13,443 4,012 15,649 2,480 Operating cash flow before working capital changes $13,609 $4,455 $36,329 $21,483 Basic weighted average shares outstanding 291,373,472 246,000,878 279,183,612 238,827,655 Operating cash flow before working capital changes per share $0.05 $0.02 $0.13 $0.09 Reconciliation of EBITDA and Adjusted EBITDA Expressed in thousands US dollars Three Months Ended September 30 Nine Months Ended September 30   2025 2024 2025 2024 Net earnings (loss) for the period per financial statements ($41,956) ($17,300) ($95,318) ($32,501) Depreciation – cost of sales 23,915 7,032 48,131 24,548 Depreciation – exploration, evaluation and development 133 221 387 568 Depreciation – general & administration 98 99 305 304 Finance costs 684 357 1,714 595 Current income tax expense 10,663 4,523 25,036 13,068 Deferred income tax expense (recovery) (6,166) (512) (9,579) (908) EBITDA ($12,629) ($5,580) ($29,324) $5,674 Share based compensation 942 564 3,139 2,896 Unrealized foreign exchange (gain) loss (1,325) 1,445 (3,852) 3,777 Gain (loss) on derivatives, copper stream and contingent liabilities revaluations 38,939 17,109 80,958 26,362 Change in fair value of investments (501) (109) (822) 1,177 Change in fair value of cash settled DSUs 2,742 454 3,962 2,078 Adjusted EBITDA $28,168 $13,883 $54,061 $41,964 Basic weighted average shares outstanding 291,373,472 246,000,878 279,183,612 238,827,655 Adjusted EBITDA per share $0.10 $0.06 $0.19 $0.18 Reconciliation of Cash Cost Per Silver Ounce, Total Production Costs Per Ounce, Direct Operating Costs Per Tonne, Direct Costs Per Tonne Expressed in thousands of US dollars Three Months Ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements $26,250   $11,681   $26,816   $64,747   Purchase of the third-party material   (7,346)     -     (984)     (8,330)   Smelting and refining costs included in revenue   -     431     1,924     2,355   Opening finished goods   (5,939)     (935)     (574)     (7,448)   Closing finished goods   5,523     541     600     6,664   Direct operating costs   18,488     11,718     27,782     57,988   Purchase of the third-party material   7,346     -     984     8,330   Royalties   7,562     212     630     8,404   Special mining duty(1)   1,356     521     559     2,436   Direct costs   34,752     12,451     29,955     77,158   By-products sales   (11,302)     (14,667)     (20,618)     (46,587)   Opening by-products inventory fair market value   2,302     1,310     526     4,138   Closing by-products inventory fair market value   (2,288)     (666)     (548)     (3,502)   Cash costs net of by-products   23,464     (1,572)     9,315     31,207   Depreciation   8,264     2,948     7,612     18,824   Share-based compensation   48     35     49     132   Opening finished goods depreciation   (1,843)     (214)     (125)     (2,182)   Closing finished goods depreciation   1,707     132     131     1,970   Total production costs $31,640   $1,329   $16,982   $49,951   Expressed in thousands of US dollars Three Months Ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements $18,968   $9,737   $ - $28,705   Purchase of the third-party material   (2,796)     -     -   (2,796)   Smelting and refining costs included in revenue   -     496     -   496   Opening finished goods   (4,038)     (557)     -   (4,595)   Closing finished goods   1,725     718     -   2,443   Direct operating costs   13,859     10,394     -   24,253   Purchase of the third-party material   2,796     -     -   2,796   Royalties   5,060     91     -   5,151   Special mining duty(1)   463     573     -   1,036   Direct costs   22,178     11,058     -   33,236   By-products sales   (8,289)     (15,505)     -   (23,794)   Opening by-products inventory fair market value   2,187     751     -   2,938   Closing by-products inventory fair market value   (1,059)     (1,478)     -   (2,537)   Cash costs net of by-products   15,017     (5,174)     -   9,843   Depreciation   4,656     2,376     -   7,032   Share-based compensation   59     14     -   73   Opening finished goods depreciation   (1,326)     (144)     -   (1,470)   Closing finished goods depreciation   515     184     -   699   Total production costs $18,921   ($2,744)   $ - $16,177   Expressed in thousands of US dollars Three Months Ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes   99,340   105,153     195,752   400,245 Payable silver ounces   1,021,248   137,052     567,017   1,725,317           Cash costs per silver ounce $22.98 ($11.47)   $16.43 $18.09 Total production costs per ounce $30.98 $9.70   $29.95 $28.95 Direct operating costs per tonne $186.11 $111.44   $141.92 $144.88 Direct costs per tonne $349.83 $118.41   $153.03 $192.78 Expressed in thousands of US dollars Three Months Ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes   67,094   107,971   -   175,065 Payable silver ounces   766,599   100,694   -   867,293           Cash costs per silver ounce $ 19.59 ($ 51.38 ) - $ 11.35 Total production costs per ounce $ 24.68 ($ 27.25 ) - $ 18.65 Direct operating costs per tonne $ 206.56 $ 96.27   - $ 138.54 Direct costs per tonne $ 330.55 $ 102.42   - $ 189.85 Expressed in thousands of US dollars Nine Months Ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements $ 74,752   $ 33,004   $ 43,117   $ 150,873   Purchase of the third-party material   (20,313 )   -     (1,606 )   (21,919 ) Smelting and refining costs included in revenue   -     1,212     3,012     4,224   Opening finished goods   (5,448 )   (485 )   (610 )   (6,543 ) Closing finished goods   5,523     541     600     6,664   Direct operating costs   54,514     34,272     44,513     133,299   Purchase of the third-party material   20,313     -     1,606     21,919   Royalties   19,825     553     630     21,008   Special mining duty (1)   3,419     1,375     707     5,501   Direct costs   98,071     36,200     47,456     181,727   By-products sales   (35,728 )   (40,621 )   (33,893 )   (110,242 ) Opening by-products inventory fair market value   3,185     772     544     4,501   Closing by-products inventory fair market value   (2,288 )   (666 )   (548 )   (3,502 ) Cash costs net of by-products   63,240     (4,315 )   13,559     72,484   Depreciation   21,148     8,332     12,769     42,249   Share-based compensation   134     95     73     302   Opening finished goods depreciation   (1,188 )   (92 )   (134 )   (1,414 ) Closing finished goods depreciation   1,707     132     131     1,970   Total production costs $ 85,041   $ 4,152   $ 26,398   $ 115,591   Expressed in thousands of US dollars Nine Months Ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements $ 68,855   $ 30,258   $ - $ 99,113   Purchase of the third-party material   (10,231 )   -       (10,231 ) Smelting and refining costs included in revenue   -     1,436     -   1,436   Opening finished goods   (7,137 )   (699 )   -   (7,836 ) Closing finished goods   1,725     718     -   2,443   Direct operating costs   53,212     31,713     -   84,925   Purchase of the third-party material   10,231     -     -   10,231   Royalties   16,948     259     -   17,207   Special mining duty (1)   2,113     1,270     -   3,383   Direct costs   82,504     33,242     -   115,746   By-products sales   (27,642 )   (42,622 )   -   (70,264 ) Opening by-products inventory fair market value   2,909     619     -   3,528   Closing by-products inventory fair market value   (1,059 )   (1,478 )   -   (2,537 ) Cash costs net of by-products   56,712     (10,239 )   -   46,473   Depreciation   16,436     8,112     -   24,548   Share-based compensation   181     45     -   226   Opening finished goods depreciation   (1,459 )   (197 )   -   (1,656 ) Closing finished goods depreciation   515     184     -   699   Total production costs $ 72,385   ($ 2,095 ) $ - $ 70,290   Expressed in thousands of US dollars Nine Months Ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes   298,612   300,320     314,648   913,580 Payable silver ounces   3,028,411   418,312     926,364   4,373,087           Cash costs per silver ounce $ 20.88 ($ 10.32 ) $ 14.64 $ 16.58 Total production costs per ounce $ 28.08 $ 9.93   $ 28.50 $ 26.43 Direct operating costs per tonne $ 182.56 $ 114.12   $ 141.47 $ 145.91 Direct costs per tonne $ 328.42 $ 120.54   $ 150.82 $ 198.92 Expressed in thousands of US dollars Nine Months Ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes   294,995   320,853   -   615,848 Payable silver ounces   3,290,499   330,563   -   3,621,062           Cash costs per silver ounce $ 17.24 ($ 30.97 ) - $ 12.83 Total production costs per ounce $ 22.00 ($ 6.34 ) - $ 19.41 Direct operating costs per tonne $ 180.38 $ 98.84   - $ 137.90 Direct costs per tonne $ 279.68 $ 103.61   - $ 187.95 (1) Special mining duty is an EBITDA royalty tax presented as a current income tax in accordance with IFRS. Reconciliation of All-In Costs Per Ounce and AISC per ounce Expressed in thousands of US dollars Three Months Ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products $ 23,464 ($ 1,572 ) $ 9,315 $ 31,207 Operations share-based compensation   48   35     49   132 Corporate general and administrative   2,584   954     2,245   5,784 Acquisition costs   -   -     -   - Corporate share-based compensation   218   79     358   655 Reclamation - amortization/accretion   165   93     55   313 Mine site expensed exploration   286   269     1,540   2,095 Equipment loan payments   -   -     104   104 Capital expenditures sustaining   4,989   3,873     3,521   12,383 All-In-Sustaining Costs $ 31,754 $ 3,731   $ 17,187 $ 52,673 Acquisition costs         - Growth exploration, evaluation and development         4,876 Growth capital expenditures         22,266 All-In-Costs       $ 79,815 Expressed in thousands of US dollars Three Months Ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products $ 15,017 ($ 5,174 ) $ - $ 9,843 Operations share-based compensation   59   14     -   73 Corporate general and administrative   2,034   1,154     -   3,188 Corporate share-based compensation   428   267     -   695 Reclamation - amortization/accretion   85   68     -   153 Mine site expensed exploration   313   321     -   634 Equipment loan payments   -   19     -   19 Capital expenditures sustaining   5,696   2,092     -   7,788 All-In-Sustaining Costs $ 23,632 ($ 1,239 ) $ - $ 22,393 Growth exploration, evaluation and development         4,056 Growth capital expenditures         41,008 All-In-Costs       $ 67,457 Expressed in thousands of US dollars Three Months Ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes   99,340   105,153   195,752   400,245 Payable silver ounces   1,021,248   137,052   567,017   1,725,317 Silver equivalent production (ounces)   1,279,860   471,158   1,286,139   3,037,156           All-in-Sustaining cost per ounce $ 31.09 $ 27.22 $ 30.31 $ 30.53 Expressed in thousands of US dollars Three Months Ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes   67,094   107,971   -   175,065 Payable silver ounces   766,599   100,694   -   867,293 Silver equivalent production (ounces)   995,146   622,779   -   1,617,925       -   All-in-Sustaining cost per ounce $ 30.83 ($ 12.31 ) - $ 25.82 Expressed in thousands of US dollars Nine months ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products $ 63,240 ($ 4,315 ) $ 13,559   $ 72,484   Operations share-based compensation   134   95     73     302   Corporate general and administrative   6,334   2,357     7,000     15,692   Acquisition costs   -   -     (3,602 )   (3,602 ) Corporate share-based compensation   1,268   472     681     2,421   Reclamation - amortization/accretion   472   268     96     836   Mine site expensed exploration   855   645     2,576     4,076   Equipment loan payments   -   -     170     170   Capital expenditures sustaining   13,216   7,473   $ 5,853     26,542   All-In-Sustaining Costs $ 85,519 $ 6,995   $ 26,406   $ 118,921   Acquisition costs         3,602   Growth exploration, evaluation and development         11,839   Growth capital expenditures         103,842   All-In-Costs       $ 238,204   Expressed in thousands of US dollars Nine months ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products $ 56,712 ($ 10,239 ) $ - $ 46,473 Operations share-based compensation   181   45     -   226 Corporate general and administrative   6,501   2,865     -   9,366 Corporate share-based compensation   1,802   794     -   2,596 Reclamation - amortization/accretion   288   218     -   506 Mine site expensed exploration   776   970     -   1,746 Equipment loan payments   206   306     -   512 Capital expenditures sustaining   15,657   6,557     -   22,214 All-In-Sustaining Costs $ 82,123 $ 1,516   $ - $ 83,639 Growth exploration, evaluation and development         10,879 Growth capital expenditures         127,280 All-In-Costs       $ 221,798 Expressed in thousands of US dollars Nine months ended September 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes   298,612   300,320   314,648   913,580 Payable silver ounces   3,028,411   418,312   926,364   4,373,087 Silver equivalent production (ounces)   3,897,142   1,450,287   2,091,217   7,438,645           All-in-Sustaining cost per ounce $ 28.24 $ 16.72 $ 28.51 $ 27.19 Expressed in thousands of US dollars Nine months ended September 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes   294,995   320,853   -   615,848 Payable silver ounces   3,290,499   330,563   -   3,621,062 Silver equivalent production (ounces)   4,196,000   1,849,055   -   6,045,055           All-in-Sustaining cost per ounce $ 24.96 $ 4.59   - $ 23.10 Reconciliation of Sustaining Capital and Growth Capital Expressed in thousands of US dollars Three Months Ended September 30 Nine months ended September 30   2025   2024   2025   2024 Capital expenditures sustaining $ 12,383 $ 7,788 $ 26,542 $ 22,214 Growth capital expenditures   22,266   41,008   103,842   127,280 Property, plant and equipment expenditures per Consolidated Statement of Cash Flows $ 34,649 $ 48,796 $ 130,384 $ 149,494 Expressed in thousands of US dollars Three Months Ended September 30 Nine months ended September 30   2025   2024     2025   2024 Mine site expensed exploration $ 2,095 $ 634   $ 4,076 $ 1,746 Growth exploration, evaluation and development   4,876   4,056     11,839   10,879 Total exploration, evaluation and development   6,971   4,690     15,915   12,625 Exploration, evaluation and development depreciation   133   221     387   568 Exploration, evaluation and development share-based compensation   154   (204 )   416   74 Exploration, evaluation and development expense $ 7,258 $ 4,707   $ 16,718 $ 13,267 Reconciliation of Realized Silver Price Per Ounce and Realized Gold Price Per Ounce Expressed in thousands of US dollars Three Months Ended September 30 Nine months ended September 30   2025   2024   2025   2024 Gross silver sales $ 76,194 $ 30,145 $ 164,218 $ 106,601 Silver ounces sold   1,975,175   1,017,392   4,682,170   3,991,055 Realized silver price per ounce $ 38.58 $ 29.63 $ 35.07 $ 26.71 1)   inclusive of 212,691 oz of silver from pre-operating production at Terronera during three months and 240,321 oz during the nine months ended September 30, 2025 Expressed in thousands of US dollars Three Months Ended September 30 Nine months ended September 30   2025   2024   2025   2024 Gross gold sales $ 49,158 $ 23,794 $ 101,930 $ 70,264 Gold ounces sold   13,847   9,412   30,816   30,179 Realized gold price per ounce $ 3,550 $ 2,528 $ 3,308 $ 2,328 1)   inclusive of 6,368 oz of gold from pre-operating production at Terronera during three months and 7,094 oz during the nine months ended September 30, 2025 Cautionary Note Regarding Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar, Peruvian sol, and U.S. dollar); fluctuations in interest rates; effects of inflation; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Peru and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including, but not limited to environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the Debt Facility; and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form and the Prospectus dated July 10, 2025 filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.