Resources

As of October 31, 2014

Category Tonnes Ag g/t Au g/t Ag oz Au oz Aq Eq
Indicated 1,631,000 49 0.90 2,589,900 47,200 5,421,900
Inferred 1,303,000 63 0.88 2,658,900 36,900 4,872,900

Notes:
1. Minimum width is 2.0 metres
2. Dilution is 15% after it has been diluted to a minimum mining width if required
3. Silver equivalents are calculated using a 60:1 ratio of silver to gold
4. A cut-off using NSR of $40 is used with the prices listed below

The Qualified Person for the Mineral Resource and Reserve Estimates was Mike Munroe, BSc, MSc, SME Registered Member 4151306RM.  The reports for Guanaceví, Bolañitos, El Cubo and San Sebastián will be completed and filed on SEDAR by April 10, 2014. The Guadalupe y Calvo report was authored by Charley Murahwi, M.Sc., P.Geo, FAusIMM and Alan San Martin, MAusIMM(CP) and previously filed on SEDAR in March 2013. The Arroyo Seco report was authored by David St. Clair Dunn B.Sc., P.Geo and Barry Devlin M.Sc., P. Geo, both of whom are Qualified Persons, and the report was previously filed on SEDAR in March 2011.

Godfrey Walton, M.Sc., P.Geo. President and COO of Endeavour, is the Qualified Person who reviewed and approved the technical information contained here.

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 on Mineral Resources and Reserves and the guidelines of NI 43-101.