Parral, Mexico

Parral Mine

Acquisition Optioned the El Cometa concession in 2006; purchased 100% interest for less than $1 million in 2011; acquired the Veta Colorada, La Palmilla and San Patricio concessions in 2016 for US$6 million in shares (1.2 million shares valued at US$5 per share)
Location Five km north of the city of Hidalgo de Parral in the state of Chihuahua
Access Paved road to the city of Hidalgo de Parral
Property Three large properties (Veta Colorada, La Palmilla and San Patricio) covering 3,450  hectares, plus the 37-hectare El Cometa property
Infrastructure State power; water, local labour, supplies, and services
Geology Large veins traceable for over eight km. Veta Colorada is up to 40 metres thick, and includes a higher-grade footwall vein 1-10 metres thick and a lower grade hanging wall breccia with stock-work up to 30 metres thick
Resources 2.6 million ounces of indicated silver; 47,200 ounces of indicated gold; 2.7 million ounces of inferred silver; 36,900 ounces of inferred gold; significant lead; and zinc at the El Cometa property
Historic Resources 32.1 million oz silver contained in 4.0 million tonnes grading 248.5 gpt estimated by Industrial Minera Mexico, S.A. de C.V. (“IMMSA”) at the Veta Colorada property (note: Endeavour is not treating the historical estimate as a current mineral resource or mineral reserve, has not verified the historical resource estimate, and is not relying on it)
Outlook Verify the historic resources; expand known mineralization through drilling; initiate PEA, and evaluate opportunities for near-term production

Parral is an attractive advanced exploration project with near-term resource and production potential, located in Chihuahua state, Mexico, about five km north of the city of Hidalgo de Parral in the historic silver mining district of the same name. IMMSA mined in the Veta Colorada at Parral until 1990 and estimated a 32 million ounce historic silver resource adjacent to their old mines.

In September 2016 Endeavour acquired the old IMMSA/Parral property, which covers 3,450 hectares. Parral has abundant, high-grade exploration targets and the potential to grow through exploration, consolidation, and development. Parral offers positive synergies with Endeavour’s existing silver-gold-lead-zinc resources on the Cometa property in the area, hosted in medium-grade polymetallic epithermal veins.

In 2017 Endeavour plans to verify the historic resources and find new resources by drilling 18,000 metres for a budget of $3.0 million. Parral is in the final stages of environmental assessment and permitting, and a PEA will get under way by the end of 2017.

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