Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today

VANCOUVER, British Columbia, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three and six months ended June 30, 2025. All dollar amounts are in US dollars ($). “We are pleased with Endeavour’s strong performance this quarter, highlighted by increased silver equivalent production, robust revenue growth, and the successful integration of Minera Kolpa into our portfolio,” said Dan Dickson, Chief Executive Officer. “Our team delivered solid operating results, achieving higher sales at favorable market prices while maintaining costs below guidance. The completion of the Minera Kolpa acquisition has enhanced the Company’s growth profile, and with Terronera nearing commercial production, we are transforming our operational landscape with an expanded resource base and increased production capacity. These milestones, combined with a steadfast commitment to operational efficiency and disciplined capital management, position the company to leverage future opportunities and deliver sustainable growth for our shareholders well into the future.” Q2 2025 Highlights Strong and Consistent Production: 1,483,736 ounces (“oz”) of silver and 7,755 oz of gold for 2.5 million oz silver equivalent (“AgEq”)(1) with the addition of Kolpa, 13% higher than the same period in 2024. Higher oz Sold with Higher Realized Prices: $85.3 million from the sale of 1,455,680 oz of silver and 7,706 oz of gold at average realized prices of $32.95 per oz silver and $3,320 per oz gold. Revenue from operations is 46% higher than in the same period in 2024. Positive Mine Operating Cash Flow: $22.9 million in operating cash flow before working capital changes(2), 21% higher than the same period in 2024. Operating Costs Below Guidance: Cash costs(2) of $15.35 per oz payable silver and all-in sustaining costs(2) of $25.16 per oz, net of by-product credits. Solid Cash Position: Ended the second quarter with a robust consolidated cash balance of $52.5 million. Completed Acquisition of Minera Kolpa: On May 1, 2025, the Company completed the acquisition of Minera Kolpa, including a $50 million bought deal equity financing, used to fund the cash component of the Kolpa Acquisition (See news release dated April 16, 2025 here), and commenced payments on the US$35 million copper stream with Versamet Royalties Corporation (See news release dated May 1, 2025 here). Additional Credit Facility of US$15 Million: The Company amended and restated the Terronera credit facility to increase the principal amount from $120 million to $135 million (See news release dated June 24, 2025 here). Terronera Nearing Commercial Production: Q2 results have been impacted by Terronera’s operating losses during the commissioning phase. On August 5, 2025 the Company announced that the throughput has rapidly increased with milling rates between 1,900 and 2,000 tpd at the end of July and that silver and gold recoveries have averaged 71% and 67%, respectively during second half of the July. (See news release dated August 5, 2025 here). Financial Overview Three Months Ended June 30 Q2 2025 Highlights Six Months Ended June 30 2025 2024 % Change   2025 2024 % Change       Production       1,483,736 1,312,572 13% Silver ounces produced 2,689,529 2,772,578 (3%) 7,755 10,549 (26%) Gold ounces produced 16,093 20,682 (22%) 3,503 - - Lead tonnes produced 3,503 - - 2,316 - - Zinc tonnes produced 2,316 - - 2,528,562 2,156,453 17% Silver equivalent ounces produced(1) 4,401,401 4,427,130 (1%) 15.35 13.43 14% Cash costs per silver ounce(2) 15.59 13.30 17% 25.25 20.48 23% Total production costs per ounce(2) 24.79 19.65 26% 25.16 23.13 9% All-in sustaining costs per ounce (2) 24.85 22.24 12% 303,828 218,989 39% Processed tonnes 513,335 440,783 16% 142.00 140.36 1% Direct operating costs per tonne(2) 142.30 137.65 3% 201.24 192.68 4% Direct costs per tonne(2) 203.70 187.19 9%       Financial       85.3 58.3 46% Revenue from operations ($ millions) 148.8 122.0 22% 1,455,680 1,217,569 20% Silver ounces sold 2,679,364 2,973,663 (10%) 7,706 9,887 (22%) Gold ounces sold 16,244 20,767 (22%) 32.95 28.94 14% Realized silver price per ounce 32.52 25.71 26% 3,320 2,374 40% Realized gold price per ounce 3,110 2,238 39% 3.3 - - Pre-production revenue ($ millions) 3.3 - - 85,711 - - Pre-production silver equivalent ounces sold(1) 85,711 - - (20.5) (14.0) (46%) Net earnings (loss) ($ millions) (53.4) (15.2) (251%) (9.2) (1.0) (841%) Adjusted net earnings (loss) ($ millions)(2) (9.4) (0.7) (1,227%) 7.7 10.2 (24%) Mine operating earnings ($ millions) 20.6 21.9 (6%) 22.9 18.9 21% Mine operating cash flow before taxes ($ millions)(2) 45.0 39.5 14% 14.4 8.1 78% Operating cash flow before working capital changes(2) 22.7 18.3 24% 1.4 (2.3) 162% EBITDA ($ millions)(2) (16.7) 11.3 (248%) 10.8 11.9 (10%) Adjusted EBITDA ($ millions)(2) 25.9 28.1 (8%) (15.3) 64.5 (124%) Working capital ($ millions) (2) (15.3) 64.5 (124%)       Shareholders       (0.07) (0.06) (17%) Earnings (loss) per share – basic ($) (0.20) (0.06) (233%) (0.03) (0.00) (100%) Adjusted earnings (loss) per share – basic ($)(2) (0.03) (0.00) (100%) 0.05 0.03 67% Operating cash flow before working capital changes per share(2) 0.08 0.08 0% 283,534,276 242,889,679 17% Weighted average shares outstanding 272,987,662 235,201,630 16% (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 Q2 2025 increased to $142.00, slightly higher than $140.36 in Q2 2024. This metric was impacted by: higher costs per tonne at Bolañitos with lower throughput as a result of maintenance of the floatation circuit and crushing area; the addition of Kolpa which has higher direct operating costs per tonne; offset by lower costs at Guanaceví. Consolidated cash costs per oz, net of by-product credits, were 14% higher in Q2 2025 at $15.35 per oz, compared with Q2 2024, driven by an increase in costs at Bolañitos and Guanaceví from lower production, and partially offset by addition of Kolpa which at $11.81 per oz decreases the average cash cost. All-In-Sustaining Costs (“AISC”) in Q2 2025 was $25.16 per silver oz in Q2 2025, 9% higher compared to $23.13 per oz in Q2 2024, predominantly due to the addition of Kolpa which at $25.66 per oz increased the average AISC, and a slight increase of AISC at Guanaceví. In Q2 2025, the Company’s mine operating earnings were $7.7 million (Q2 2024 – $10.2 million) from revenue of $85.3 million (Q2 2024 – $58.3 million) and cost of sales of $80.9 million (Q2 2024 – $48.1 million). The decrease in mine operating earnings is predominantly due to Terronera’s mine operating loss of $5.9 million as the mine ramped-up towards commercial production. The increase in the cost of sales compared to the prior period was driven by $21.5 million from Kolpa and $9.2 million increase from Terronera. In Q2 2025, the Company had operating loss of $4.8 million (Q2 2024 – earnings of $1.7 million) after exploration, evaluation and development costs of $4.9 million (Q2 2024 – $4.3 million), and general and administrative expense of $7.6 million (Q2 2024 – $4.2 million). The increase in general and administrative expense is primarily due to the $3.6 million acquisition costs of Minera Kolpa. The loss before taxes for Q2 2025 was $14.6 million (Q2 2024 – loss of $11.3 million) after loss on derivative contracts of $10.0 million (Q2 2024 – $9.2 million) and partially offset by a foreign exchange gain of $0.7 million (Q2 2024 – loss of $4.0 million), investment and other income of $0.7 million (Q2 2024 – $0.6 million), and finance costs of $1.1 million (Q2 2024 – $0.3 million). The Company realized a net loss for the period of $20.5 million (Q2 2024 – net loss of $14.0 million) after an income tax expense of $5.9 million (Q2 2024 – $2.7 million). The deferred tax recovery was realized as a result of recognizing previously unutilized losses during the period. Adjusted net loss was $9.2 million compared to adjusted net loss of $1.0 million in Q2 2024, largely due to the operating loss from Terronera during the commissioning phase and higher depreciation and tax costs. This news release should be read in conjunction with the Company’s condensed consolidated interim financial statements for the period ended June 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 Q2 2025 financial results today at 10:00am Pacific (PST)/ 1:00pm Eastern (EST). Date: Wednesday, August 13, 2025     Time: 10:00am Pacific (PDT) / 1:00pm Eastern (EDT)     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 6575935     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. Management Update Endeavour is pleased to announce the promotion of Allison Pettit as Vice President, Investor Relations, joining the company’s management team, effective August 1, 2025. With over a decade of experience in the mining sector, Ms. Pettit has a proven track record working in investor relations, corporate communications, and stakeholder engagement. She joined Endeavour in 2024 after six years at NOVAGOLD Resources Inc., where she played a key role in enhancing corporate visibility and strengthening shareholder relationships. Ms. Pettit will continue to lead Endeavour’s investor relations and communications strategies, supporting the company’s growth and strategic objectives. She holds a Bachelor of Business Administration and serves as a Board member for the BC Chapter of the Canadian Investor Relations Institute. Endeavour warmly welcomes Ms. Pettit to its management team as the company advances its growth strategy and commitment to long-term shareholder value. About Endeavour Silver Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier 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 June 30, 2025 MD&A for explanations and a 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 June 30, 2025 MD&A available on SEDAR+ at www.sedarplus.com. ReconciliationofWorkingCapital           Expressed in thousands of US dollars As at June 30, 2025   As at December 31, 2024   Current assets $197,877   $157,647   Current liabilities 220,043   78,866   Working capital ($22,166)   $78,781     Reconciliation of Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share       ExpressedinthousandsUS dollars Three Months Ended June 30 Six Months Ended June 30   2025 2024 2025 2024 Net earnings (loss) for the period per financial statements ($20,455)   ($14,007)   ($53,362)   ($15,201)   Unrealized foreign exchange (Gain) loss (2,802)   2,196   (2,527)   2,332   (Gain) loss on derivatives & copper stream valuation 10,088   9,253   42,019   9,253   Acquisition costs 3,602   -   3,602   -   Change in fair value of investments (178)   425   (321)   1,286   Change in fair value of cash settled DSUs 582   1,159   1,220   1,624   Adjusted net earnings (loss) ($9,163)   ($974)   ($9,369)   ($706)   Basic weighted average share outstanding 283,534,276   242,889,679   272,987,662   235,201,630   Adjusted net earnings (loss) per share ($0.03)   ($0.00)   ($0.03)   ($0.00)     Reconciliation of Mine Operating Cash Flow Before Taxes       ExpressedinthousandsUS dollars Three Months Ended June 30 Six Months Ended June 30   2025 2024 2025 2024 Mine operating earnings per financial statements $7,744   $10,196   $20,586   $21,852   Share-based compensation 136   74   170   153   Depreciation 15,010   8,639   24,216   17,516   Mine operating cash flow before taxes $22,890   $18,909   $44,972   $39,521                   Reconciliation of Operating Cash Flow Before Working Capital Changes and Operating Cash Flow Before Working Capital Changes Per Share       ExpressedinthousandsUS dollars Three Months Ended June 30 Six Months Ended June 30 (except for per share amounts) 2025 2024 2025 2024 Cash from (used in) operating activities per financial statements $21,564   $12,367   $24,927   $16,950   Net changes in non-cash working capital per financial statements 7,192   4,301   2,207   (1,350)   Operating cash flow before working capital changes $14,372   $8,066   $22,720   $18,300   Basic weighted average shares outstanding 283,534,276   242,889,679   272,987,662   235,201,630   Operating cash flow before working capital changes per share $0.05   $0.03   $0.08   0.08                     Reconciliation of EBITDA and Adjusted EBITDA       ExpressedinthousandsUS dollars Three Months Ended June 30 Six Months Ended June 30   2025 2024 2025 2024 Net earnings (loss) for the period per financial statements ($20,455)   ($14,007)   ($53,362)   ($15,201)   Depreciation – cost of sales 15,010   8,639   24,216   17,516   Depreciation – exploration, evaluation and development 4   188   254   347   Depreciation – general & administration 102   106   207   205   Finance costs 846   103   1,030   238   Current income tax expense 9,094   2,878   14,373   8,545   Deferred income tax expense (recovery) (3,199)   (163)   (3,413)   (396)   EBITDA $1,402   ($2,256)   ($16,695)   $11,254   Share based compensation 1,681   1,162   2,197   2,332   Unrealized foreign exchange (gain) loss (2,802)   2,196   (2,527)   2,332   (Gain) loss on derivatives & copper stream valuation 10,088   9,253   42,019   9,253   Change in fair value of investments (178)   425   (321)   1,286   Change in fair value of cash settled DSUs 582   1,159   1,220   1,624   Adjusted EBITDA $10,773   $11,939   $25,893   $28,081   Basic weighted average shares outstanding 283,534,276   242,889,679   272,987,662   235,201,630   Adjusted EBITDA per share $0.04   $0.05   $0.09   $0.12     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 June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Direct production costs per financial statements $23,058   $11,594   $16,301   $50,953   Purchase of the third-party material (9,988)   -   -   (9,988)   Smelting and refining costs included in revenue -   345   1,088   1,433   Opening finished goods (4,763 ) (1,328)   (610)   (6,701)   Closing finished goods 5,939   935   574   7,448   Direct operating costs 14,246   11,546   17,353   43,145   Purchase of the third-party material 9,988   -   -   9,988   Royalties 6,197   164   -   6,361   Special mining duty (1) 1,079   423   148   1,650   Direct costs 31,510   12,133   17,501   61,144   By-products sales (11,635)   (13,962)   (13,275)   (38,872)   Opening by-products inventory fair market value 2,232   1,410   544   4,186   Closing by-products inventory fair market value (2,302)   (1,310)   (526)   (4,138)   Cash costs net of by-products 19,805   (1,729)   4,244   22,320   Depreciation 6,315   2,747   5,157   14,219   Share-based compensation 66   46   24   136   Opening finished goods depreciation (1,618)   (384)   (134)   (2,136)   Closing finished goods depreciation 1,843   214   125   2,182   Total production costs $26,411   $894   $9,416   $36,721                     Expressed in thousands of US dollars Three Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Direct production costs per financial statements $23,001   $10,702   -   $33,703   Purchase of the third-party material (5,043)   -   -   (5,043)   Smelting and refining costs included in revenue -   447   -   447   Opening finished goods (2,314)   (651)   -   (2,965)   Closing finished goods 4,038   557   -   4,595   Direct operating costs 19,682   11,055   -   30,737   Purchase of the third-party material 5,043   -   -   5,043   Royalties 5,556   92   -   5,648   Special mining duty(1) 129   637   -   766   Direct costs 30,410   11,784   -   42,194   By-products sales (8,622)   (14,852)   -   (23,474)   Opening by-products inventory fair market value 871   851   -   1,722   Closing by-products inventory fair market value (2,187)   (751)   -   (2,938)   Cash costs net of by-products 20,472   (2,968)   -   17,504   Depreciation 5,965   2,674   -   8,639   Share-based compensation 60   14   -   74   Opening finished goods depreciation (771)   (219)   -   (990)   Closing finished goods depreciation 1,326   144   -   1,470   Total production costs $27,052   ($355)   -   $26,697                       Expressed in thousands of US dollars Three Months Ended June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 96,834   88,098   118,896   303,828   Payable silver ounces 994,882   100,183   359,347   1,454,412                     Cash costs per silver ounce $19.91   ($17.26)   $11.81   $15.35   Total production costs per ounce $26.55   $8.92   $26.20   $25.25   Direct operating costs per tonne $147.11   $131.06   $145.95   $142.00   Direct costs per tonne $325.40   $137.72   $147.20   $201.24                       Expressed in thousands of US dollars Three Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 112,897   106,092   -   218,989   Payable silver ounces 1,192,165   111,296   -   1,303,461                     Cash costs per silver ounce $17.17   ($26.67)   -   $13.43   Total production costs per ounce $22.69   ($3.19)   -   $20.48   Direct operating costs per tonne $174.34   $104.20   -   $140.36   Direct costs per tonne $269.36   $111.07   -   $192.68                       Expressed in thousands of US dollars Six Months Ended June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Direct production costs per financial statements $48,502   $21,323   $16,301   $86,126   Purchase of the third-party material (15,854)   -   -   (15,854)   Smelting and refining costs included in revenue -   781   1,088   1,869   Opening finished goods (5,448)   (485)   (610)   (6,543)   Closing finished goods 5,939   935   574   7,448   Direct operating costs 33,139   22,554   17,353   73,046   Purchase of the third-party material 15,854   -   -   15,854   Royalties 12,263   341   -   12,604   Special mining duty (1) 2,063   854   148   3,065   Direct costs 63,319   23,749   17,501   104,569   By-products sales (24,426)   (25,954)   (13,275)   (63,655)   Opening by-products inventory fair market value 3,185   772   544   4,501   Closing by-products inventory fair market value (2,302)   (1,310)   (526)   (4,138)   Cash costs net of by-products 39,776   (2,743)   4,244   41,277   Depreciation 12,884   5,384   5,157   23,425   Share-based compensation 86   60   24   170   Opening finished goods depreciation (1,188)   (92)   (134)   (1,414)   Closing finished goods depreciation 1,843   214   125   2,182   Total production costs $53,401   $2,823   $9,416   $65,640                       Expressed in thousands of US dollars Six Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Direct production costs per financial statements $49,887   $20,521   $   -   $70,408   Purchase of the third-party material (7,435)   -   -   (7,435)   Smelting and refining costs included in revenue -   940   -   940   Opening finished goods (7,137)   (699)   -   (7,836)   Closing finished goods 4,038   557   -   4,595   Direct operating costs 39,353   21,319   -   60,672   Purchase of the third-party material 7,435   -   -   7,435   Royalties 11,888   168   -   12,056   Special mining duty(1) 1,650   697   -   2,347   Direct costs 60,326   22,184   -   82,510   By-products sales (19,353)   (27,117)   -   (46,470)   Opening by-products inventory fair market value 2,909   619   -   3,528   Closing by-products inventory fair market value (2,187)   (751)   -   (2,938)   Cash costs net of by-products 41,695   (5,065)   -   36,630   Depreciation 11,780   5,736   -   17,516   Share-based compensation 122   31   -   153   Opening finished goods depreciation (1,459)   (197)   -   (1,656)   Closing finished goods depreciation 1,326   144   -   1,470   Total production costs $53,464   $   649   $   -   $54,113                     Expressed in thousands of US dollars Six Months Ended June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 199,272   195,167   118,896   513,335   Payable silver ounces 2,007,163   281,260   359,347   2,647,770                     Cash costs per silver ounce $19.82   ($9.75)   $11.81   $15.59   Total production costs per ounce $26.60   $10.04   $26.20   $24.79   Direct operating costs per tonne $166.30   $115.56   $145.95   $142.30   Direct costs per tonne $317.75   $121.69   $147.20   $203.70                       Expressed in thousands of US dollars Six Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 227,901   212,882   -   440,783   Payable silver ounces 2,523,900   229,869   -   2,753,769                     Cash costs per silver ounce $16.52   ($22.03)   -   $13.30   Total production costs per ounce $21.18   $2.82   -   $19.65   Direct operating costs per tonne $172.68   $100.14   -   $137.65   Direct costs per tonne $264.70   $104.21   -   $187.19     (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 June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Cash costs net of by-products $19,805   ($1,729)   $4,244   $22,320   Operations share-based compensation 66   46   24   136   Corporate general and administrative 1,074   323   4,755   6,152   Acquisition costs -   -   (3,602)   (3,602)   Corporate share-based compensation 756   274   323   1,353   Reclamation - amortization/accretion 159   90   41   290   Mine site expensed exploration 29   27   1,036   1,092   Equipment loan payments -   -   66   66   Capital expenditures sustaining 4,781   1,675   2,332   8,788   All-In-Sustaining Costs $26,670   $706   $9,219   $36,595   Acquisition costs             3,602   Growth exploration, evaluation and development             3,633   Growth capital expenditures             45,362   All-In-Costs             $89,192                       Expressed in thousands of US dollars Three Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Cash costs net of by-products $20,472   ($2,968)   -   $17,504   Operations share-based compensation 60   14   -   74   Corporate general and administrative 2,263   910   -   3,173   Corporate share-based compensation 684   277   -   961   Reclamation - amortization/accretion 101   73   -   174   Mine site expensed exploration 341   335   -   676   Equipment loan payments 78   67   -   145   Capital expenditures sustaining 5,245   2,199   -   7,444   All-In-Sustaining Costs $29,244   $907   $-   $30,151   Growth exploration, evaluation and development             3,299   Growth capital expenditures             48,367   All-In-Costs             $81,817                       Expressed in thousands of US dollars Three Months Ended June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 96,834   88,098   118,896   303,828   Payable silver ounces 994,882   100,183   359,347   1,454,412   Silver equivalent production (ounces) 1,282,853   440,678   805,032   2,528,562                     All-in-Sustaining cost per ounce $26.81   $7.04   $25.66   $25.16                     Expressed in thousands of US dollars Three Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 112,897   106,092   -   218,989   Payable silver ounces 1,192,165   111,296   -   1,303,461   Silver equivalent production (ounces) 1,535,161   621,292   -   2,156,453                     All-in-Sustaining cost per ounce $24.53   $8.15   -   $23.13                     Expressed in thousands of US dollars Six Months Ended June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Cash costs net of by-products $39,776   ($2,743)   $4,244   $41,277   Operations share-based compensation 86   60   24   170   Corporate general and administrative 3,750   1,403   4,755   9,908   Acquisition costs -   -   (3,602)   (3,602)   Corporate share-based compensation 1,050   393   323   1,766   Reclamation - amortization/accretion 307   175   41   523   Mine site expensed exploration 299   201   1,036   1,536   Equipment loan payments -   -   66   66   Capital expenditures sustaining 8,227   3,600   $2,332   14,159   All-In-Sustaining Costs $53,495   $3,089   $9,219   $65,803   Acquisition costs             3,602   Growth exploration, evaluation and development             7,408   Growth capital expenditures             81,576   All-In-Costs             $158,389                     Expressed in thousands of US dollars Six Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Cash costs net of by-products $41,695   ($5,065)   $-   $36,630   Operations share-based compensation 122   31   -   153   Corporate general and administrative 4,467   1,711   -   6,178   Corporate share-based compensation 1,374   527   -   1,901   Reclamation - amortization/accretion 203   150   -   353   Mine site expensed exploration 463   649   -   1,112   Equipment loan payments 206   287   -   493   Capital expenditures sustaining 9,961   4,465   -   14,426   All-In-Sustaining Costs $58,491   $2,755   $-   $61,246   Growth exploration, evaluation and development             6,823   Growth capital expenditures             86,272   All-In-Costs             $154,341                     Expressed in thousands of US dollars Six Months Ended June 30, 2025   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 199,272   195,167   118,896   513,335   Payable silver ounces 2,007,163   281,260   359,347   2,647,770   Silver equivalent production (ounces) 2,617,300   979,070   805,032   4,401,401                     All-in-Sustaining cost per ounce $26.65   $10.98   $25.66   $24.85                     Expressed in thousands of US dollars Six Months Ended June 30, 2024   Guanaceví   Bolañitos   Kolpa   Total   Throughput tonnes 227,901   212,882   -   440,783   Payable silver ounces 2,523,900   229,869   -   2,753,769   Silver equivalent production (ounces) 3,200,854   1,226,276   -   4,427,129                     All-in-Sustaining cost per ounce $23.17   $11.98   -   $22.24                     Reconciliation of Sustaining Capital and Growth Capital       Expressed in thousands of US dollars Three Months Ended June 30 Six Months Ended June 30   2025 2024 2025 2024 Capital expenditures sustaining $8,788   $7,444   $14,159   $14,426   Growth capital expenditures 45,362   48,367   81,576   86,272   Property, plant and equipment expenditures per Consolidated Statement of Cash Flows $54,150   $55,811   $95,735   $100,698                     Expressed in thousands of US dollars Three Months Ended June 30 Six Months Ended June 30   2025 2024 2025 2024 Mine site expensed exploration $1,092   $676   $1,536   $1,112   Growth exploration, evaluation and development 3,633   3,299   7,408   6,823   Total exploration, evaluation and development 4,725   3,975   8,944   7,935   Exploration, evaluation and development depreciation 4   188   254   347   Exploration, evaluation and development share-based compensation 193   127   262   278   Exploration, evaluation and development expense $4,922   $4,290   $9,460   $8,560                     Reconciliation of Realized Silver Price Per Ounce and Realized Gold Price Per Ounce       Expressed in thousands of US dollars Three Months Ended June 30 Six Months Ended June 30   2025   2024   2025   2024   Gross silver sales $48,873   $35,234   $88,024   $76,456   Silver ounces sold 1,483,311   1,217,569   2,706,995   2,973,663   Realized silver price per ounce $32.95   $28.94   $32.52   $25.71   inclusive of 27,631 oz of silver from pre-production at Terronera                   Expressed in thousands of US dollars Three Months Ended June 30 Six Months Ended June 30   2025   2024   2025   2024   Gross gold sales $27,989   $23,474   $52,772   $46,470   Gold ounces sold 8,431   9,887   16,969   20,767   Realized gold price per ounce $3,320   $2,374   $3,110   $2,238    inclusive of 725 oz of gold from pre-production at Terronera 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 Company’s forecasted operations, costs and expenditures, the Company’s exploration programs, extensions of mineralisation and publishing of future resource estimates; and the timing and results of various related activities, including achieving commercial production at Terronera. 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; challenges to the Company’s title to properties; May 27, 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.