Resources

Terronera Mineral Resource Estimates at March 25, 2015

Resources
 
Tonnes
Ag g/t
Au g/t
Ag Eq g/t
Ag oz
Au oz
Ag Eq oz
Indicated
2,938,000
211
1.65
327
19,912,000
156,000
30,832,000
Inferred
1,213,000
218
1.39
315
8,500,000
54,400
12,308,000
  1. Indicated resource cut-off grades 100 g/t silver equivalent
  2. Inferred resource cut-off grades are 100 g/t silver equivalent
  3. Silver equivalents are based on a 70:1 silver:gold ratio
  4. Price assumptions are $18 per ounce for silver and $1,200 per ounce for gold
  5. Mineral resources are estimated exclusive of and in addition to mineral reserves
  6. Proven Reserves are defined within 10 metres of underground development while Probable Reserves extend a further 15 metres from underground development

Godfrey Walton, M.Sc., P.Geo., President and COO of Endeavour, is the Qualified Person who reviewed and approved the technical information contained in this mineral resource estimate. The Qualified Person for the Mineral Resource and Reserve Estimates was Mike Munroe, BSc, MSc, SME Registered Member 4151306RM. A technical report is available on SEDAR.

These reserve and resource statements were classified following the definitions and guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum CIM standards and definitions of Mineral Resources and Reserves and the guidelines contained in National Instrument 43-101.