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June 3, 2025
Endeavour Silver Continues to Confirm High-Grade Structures During its 2024/2025 Drill Program at Pitarrilla
VANCOUVER, British Columbia, June 03, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to report positive drill results from its exploration program at its 100% owned Pitarrilla project in Durango, Mexico. The focus of the drill program is to further define the geometry of multiple, sub-vertical, mineralized feeder structures and the mineralized manto that was initially outlined by historical drilling. Drilling from surface and underground has been successful in intersecting high-grade silver, zinc and lead mineralization and provides additional confidence required to upgrade existing mineral resources.
Highlighted Drill Results from Casas Blancas Vein
- 1,127 gpt Ag, 1.40% Pb and 4.36% Zn for for 1,319 gpt AgEq over 2.08 m ETW , including 4,630 gpt Ag, 2.26% Pb and 3.49% Zn for for 4,814 gpt AgEq over 0.20 m ETW in hole BPD-505
- 893 gpt Ag, 2.06% Pb and 2.56% Zn for for 1,038 gpt AgEq over 3.97 m ETW , including 5,090 gpt Ag, 9.22% Pb and 0.84% Zn for for 5,363 gpt AgEq over 0.23 m ETW in hole BPD-506
- 232 gpt Ag, 1.05% Pb and 8.79% Zn for for 573 gpt AgEq over 4.10 m ETW, including 973 gpt Ag, 2.47% Pb and 33.94% Zn for for 2,246 gpt AgEq over 0.46 m ETW in hole BPD-501
Highlighted Drill Results from Danna Vein
- 2,481 gpt Ag, 2.39% Pb and 4.57% Zn for for 2,707 gpt AgEq over 1.03 m ETW , including 4,520 gpt Ag, 4.35% Pb and 7.96% Zn for for 4,918 gpt AgEq over 0.54 m ETW in hole BPU-005
- 307 gpt Ag, 2.11% Pb and 2.26% Zn for for 443 gpt AgEq over 5.22 m ETW , including 1,020 gpt Ag, 14.30% Pb and 14.25% Zn for for 1,904 gpt AgEq over 0.52 m ETW in hole BPU-014
- 322 gpt Ag, 1.57% Pb and 3.65% Zn for for 493 gpt AgEq over 7.37 m ETW , including 922 gpt Ag, 6.43% Pb and 12.55% Zn for for 1,538 gpt AgEq over 0.55 m ETW in hole BPU-019
Highlighted Drill Results from Victoria Vein
- 221 gpt Ag, 2.98% Pb and 6.39% Zn for for 527 gpt AgEq over 2.34 m ETW , including 495 gpt Ag, 6.91% Pb and 15.75% Zn for for 1,238 gpt AgEq over 0.30 m ETW in hole BPU-017
- 643 gpt Ag, 5.81% Pb and 6.93% Zn for for 1,043 gpt AgEq over 1.51 m ETW , including 1,015 gpt Ag, 9.15% Pb and 8.78% Zn for for 1,569 gpt AgEq over 0.91 m ETW in hole BPU-018
Highlighted Drill Results from Manto Pitarrilla
- 129 gpt Ag, 0.84% Pb and 2.55% Zn for for 242 gpt AgEq over 247 m , including 716 gpt Ag, 4.19% Pb and 6.61% Zn for for 1,062 gpt AgEq over 1.00 m and 2,680 gpt Ag, 24.03% Pb and 18.90% Zn for for 3,987 gpt AgEq over 0.60 m in hole BPU-022
Abbreviations include: gpt: grams per tonne; Ag: silver; Pb: lead; Zn: zinc; ETW: estimated true width; m: metre. Silver equivalents are calculated using prices of $26/oz for silver, $1.00/lb for lead and $1.35/lb for zinc. Variable amounts of gold and copper occur but have not been included in the AgEq calculation.
Drilling Context
The simplified geology of the Pitarrilla deposit includes three mineralized domains (Figure 5).
- Upper volcanics, primarily of andesitic composition
- Conglomerate (Manto Pitarrilla), flat lying, strata-bound with massive replacement mineralization
- Lower marine sediments
In addition, at least four sulphide mineralized veins (Casas Blancas, Victoria, Danna, and Palmito) and two sulphide mineralized dykes (Cuchara and Pena) have been identified. Drilling has confirmed that all structures originate below the marine sediments, extend through Manto Pitarrilla, and into the upper volcanics. These feeder structures remain open at depth.
Between September 2024 and April 2025, an additional 31 drill holes totaling 11,200 metres have been completed. 4,360 metres from 12 holes collared from surface and 6,839 metres from 19 holes from underground drill stations. The Danna vein returned the widest mineralized interval with results up to 7.4 metres in estimated true width from hole BPU-019, while two of three holes that intersected Casas Blancas returned economic grades over 4.0 metres in estimated true width (BPD-501 and BPD-506).
Drill hole BPU-022 was drilled at a low angle (-22.5 degrees) through the horizontal lying Manto Pitarrilla and returned 247 m (apparent width) of 254 gpt AgEq (see figure 5). Due to the irregular geometry of the Manto Pitarrilla, true width is variable, however drill data estimates the dimensions to be approximately 400 metres wide and up to 100 metres high in some parts.
Table 1. Surface Diamond Drill Results
Hole Structure From To True Width Au Ag Cu Pb Zn AgEq (m) (m) (m) (gpt) (gpt) (%) (%) (%) (gpt) BPD-501 Casas Blancas 361.50 367.20 4.10 0.05 232 0.04 1.05 8.79 573 Including 362.75 363.35 0.46 0.12 973 0.08 2.47 33.94 2,246 Norma 406.80 410.10 2.84 0.10 302 0.04 1.72 1.75 410 Including 407.90 408.50 0.52 0.07 442 0.08 2.66 3.05 621 BPD-505 Hw Casas Blancas 211.65 218.30 3.43 0.06 272 0.04 0.46 5.77 489 Including 216.90 217.30 0.21 0.72 641 0.05 0.83 28.00 1,660 Casas Blancas 224.00 228.00 2.08 0.13 1,127 0.05 1.40 4.36 1,319 Including 225.70 226.10 0.20 0.07 4,630 0.18 2.26 3.49 4,814 Norma Projection 305.80 309.95 3.08 0.06 235 0.04 1.01 1.41 311 Including 307.30 308.00 0.52 0.08 354 0.04 0.94 0.54 398 Victoria 374.55 377.10 1.08 0.02 65 0.10 0.99 1.55 146 Including 375.55 376.00 0.19 0.04 72 0.12 1.37 1.71 169 BPD-506 Casas Blancas 209.00 218.40 3.97 0.04 893 0.04 2.06 2.56 1,038 Including 212.00 212.55 0.23 0.15 5,090 0.08 9.22 0.84 5,363 Norma Projection 362.55 364.35 1.20 0.17 188 0.01 0.65 0.46 221 Including 362.55 363.20 0.43 0.41 319 0.02 1.39 0.69 380 Victoria 436.50 444.00 3.64 0.17 565 0.05 1.30 1.47 652 Including 439.50 441.00 0.73 0.28 1,350 0.11 2.15 3.22 1,521 *Drill holes BPD-502, BPD-503, BPD-504, BPD-507, BPD-508, BPD-509, BPD-510, BPD-511 and BPD-512 returned no significant results
Table 2. Underground Diamond Drill Results, Vein InterceptsHole Structure From To True Width Au Ag Cu Pb Zn AgEq (m) (m) (m) (gpt) (gpt) (%) (%) (%) (gpt) BPU-004 Casas Blancas Projection 181.25 183.50 1.69 0.07 170 0.91 0.05 0.89 203 Including 181.45 182.00 0.41 0.01 243 1.56 0.07 2.92 349 Palmito 248.90 251.00 1.46 0.48 76 0.02 0.30 0.82 113 Including 249.80 250.05 0.17 0.20 583 0.08 2.24 6.37 869 Hw Danna 269.25 271.00 1.69 0.00 103 0.24 0.63 1.89 187 Including 269.25 269.95 0.68 <0.005 135 0.44 0.63 1.95 221 Danna Projection 316.15 317.70 1.25 0.00 82 0.01 0.18 0.24 96 Victoria 359.80 361.10 1.10 0.00 84 0.01 0.29 0.12 95 BPU-005 Palmito 163.55 164.95 1.32 0.31 134 0.01 0.56 0.80 177 Including 163.55 164.20 0.61 0.63 170 0.01 1.17 0.86 232 Danna 340.35 341.40 1.03 0.13 2,481 1.18 2.39 4.57 2,707 Including 340.85 341.40 0.54 0.22 4,520 2.14 4.35 7.96 4,918 BPU-006 Palmito Projection 184.45 185.95 1.30 0.01 31 0.02 0.18 0.76 63 Hw Danna 246.85 248.50 1.65 0.02 175 0.03 1.89 3.28 342 Including 247.75 248.50 0.75 0.05 124 0.07 1.47 6.58 397 Danna 278.20 280.50 2.22 0.03 189 0.14 2.09 2.84 345 Including 280.30 280.50 0.19 0.23 1,780 1.03 21.00 14.35 2,845 Victoria 348.65 350.50 1.37 0.02 132 0.03 1.27 1.43 216 Including 350.30 350.50 0.17 0.13 915 0.24 9.30 9.07 1,483 BPU-007 Palmito Projection 85.10 90.40 3.04 0.01 150 0.11 1.72 4.77 365 Including 90.05 90.40 0.33 0.03 579 0.07 7.25 6.41 998 Danna 170.00 171.50 0.96 0.04 78 0.10 0.37 0.61 110 Including 171.20 171.50 0.19 0.17 354 0.43 1.66 2.72 494 Victoria Projection 327.85 333.60 3.69 0.13 214 0.03 0.62 1.11 270 Including 327.85 329.05 0.88 0.35 364 0.07 1.18 2.24 475 BPU-008 Palmito 78.70 80.45 1.60 0.18 403 0.02 3.15 2.09 561 Including 79.45 80.45 0.91 0.15 555 0.02 5.00 2.20 765 Danna Projection 122.80 123.75 0.95 0.03 53 0.01 0.35 2.63 156 Including 122.80 123.75 0.95 0.03 53 0.01 0.35 2.63 156 BPU-009 Palmito 60.90 62.45 1.55 0.00 13 0.02 0.02 8.51 317 Including 61.70 61.90 0.20 <0.005 21 0.02 0.03 14.40 535 Danna 187.05 188.20 1.08 1.05 126 0.00 0.44 0.16 144 Including 187.60 188.20 0.56 1.28 208 0.00 0.67 0.28 236 Victoria 222.35 223.50 1.08 0.12 304 0.04 3.54 3.04 506 Including 222.55 222.75 0.19 0.44 1,605 0.17 19.58 9.01 2,442 Fw Victoria 279.35 281.25 1.22 0.51 34 0.02 0.22 2.65 134 Including 280.35 281.25 0.58 1.04 46 0.02 0.41 3.27 173 BPU-010 Palmito 59.05 60.55 1.36 0.00 9 0.01 0.03 6.05 225 Including 59.05 59.70 0.59 <0.005 11 0.01 0.04 6.76 253 Danna 166.65 167.75 1.00 0.36 11 0.00 0.05 0.03 13 Including 166.65 166.95 0.27 0.86 26 0.00 0.11 0.02 29 BPU-011 Palmito 47.60 51.00 3.06 0.02 58 0.02 0.19 9.64 407 Including 47.60 48.20 0.54 0.03 61 0.06 0.21 34.75 1,303 Danna 182.20 184.05 1.09 0.97 13 0.00 0.08 0.04 17 Including 183.45 184.05 0.35 2.85 23 0.00 0.03 0.03 25 Victoria 302.65 304.30 1.48 0.04 317 0.04 4.84 3.30 562 Including 302.65 303.00 0.31 0.09 1,000 0.10 15.25 7.52 1,670 BPU-012 Palmito 92.10 93.85 1.15 0.47 69 0.02 0.45 5.80 288 Including 93.10 93.85 0.49 0.32 116 0.03 0.74 8.65 443 Danna 182.60 184.60 1.00 0.01 6 0.00 0.07 0.15 14 BPU-013 Palmito 68.50 69.85 1.33 0.22 56 0.03 0.07 2.43 145 Including 69.05 69.85 0.79 0.29 55 0.04 0.08 3.00 164 Danna 155.20 156.55 1.00 0.18 81 0.04 0.62 1.35 146 Including 156.00 156.55 0.41 0.34 136 0.04 1.18 2.49 256 BPU-014 Palmito 94.90 96.00 1.01 0.15 87 0.09 0.37 4.84 270 Including 95.25 96.00 0.69 0.14 84 0.09 0.33 5.60 292 Danna 226.60 232.15 5.22 0.12 307 0.14 2.11 2.26 443 Including 226.60 227.15 0.52 0.93 1,020 0.28 14.30 14.25 1,904 BPU-015 Palmito 85.00 86.20 0.95 0.06 18 0.02 0.06 2.81 120 Including 85.00 85.35 0.28 0.09 18 0.03 0.03 6.61 254 Danna 267.80 272.25 3.41 0.07 368 0.10 1.72 3.33 532 Including 270.40 271.40 0.77 0.11 846 0.28 0.48 6.87 1,103 BPU-016 Palmito 87.50 89.25 1.08 0.28 90 0.04 0.60 7.80 383 Including 87.50 88.25 0.46 0.59 70 0.04 0.48 12.10 514 Danna 271.20 274.15 1.47 0.03 49 0.02 0.99 3.44 197 Including 271.20 271.45 0.13 0.04 74 0.06 1.08 17.75 734 BPU-017 Palmito 68.30 69.90 1.24 0.10 34 0.00 0.05 5.73 239 Including 69.30 69.90 0.47 0.22 47 0.00 0.04 10.35 416 Danna 156.00 157.50 1.15 0.02 206 0.02 3.05 1.80 351 Victoria 305.35 308.05 2.34 0.04 221 0.07 2.98 6.39 527 Including 305.90 306.25 0.30 0.07 495 0.15 6.91 15.75 1,238 BPU-018 Palmito 67.00 68.05 0.96 0.50 12 0.01 0.01 8.20 304 Danna Projection 171.30 172.40 1.03 0.02 265 0.08 1.63 2.51 398 Including 171.90 172.40 0.47 0.04 518 0.18 2.59 4.95 763 Victoria 340.65 342.80 1.51 0.08 643 0.15 5.81 6.93 1,043 Including 341.50 342.80 0.91 0.12 1,015 0.23 9.15 8.78 1,569 BPU-019 Palmito 80.50 82.60 1.22 0.03 31 0.01 0.04 1.52 86 Danna Projection 169.75 179.10 7.37 0.10 322 0.24 1.57 3.65 493 Including 178.40 179.10 0.55 0.27 922 1.39 6.43 12.55 1,538 Victoria Projection 355.65 361.75 4.08 0.03 134 0.03 1.67 1.66 237 Including 356.65 357.65 0.67 0.04 212 0.04 2.65 2.03 354 BPU-020 Palmito 73.20 75.60 1.20 0.01 14 0.00 0.02 13.18 484 Including 75.25 75.60 0.17 <0.005 18 0.01 0.01 15.75 579 Danna 209.50 210.90 1.15 0.16 938 0.37 3.16 4.97 1,198 Including 209.50 209.90 0.33 0.44 2,930 1.07 7.28 11.60 3,535 Victoria Projection 376.45 377.90 1.14 0.13 326 0.10 2.74 6.36 625 Including 376.00 376.45 0.27 0.23 924 0.24 7.78 14.60 1,649 BPU-021 Palmito 67.15 69.10 1.60 0.06 64 0.01 0.11 1.19 109 Including 67.15 68.15 0.82 0.11 99 0.01 0.18 1.63 162 Danna 185.75 188.65 2.56 0.21 558 0.34 1.67 3.16 715 Including 172.70 195.75 20.35 0.11 325 0.12 1.13 1.99 426 BPU-022 Palmito 149.50 151.10 1.28 0.05 199 0.03 1.78 4.44 404 Including 149.50 150.60 0.88 0.08 250 0.02 2.22 3.11 419
Table 3. Manto PitarrillaHole Structure From To Apparent Width Au Ag Cu Pb Zn AgEq (m) (m) (m) (gpt) (gpt) (%) (%) (%) (gpt) BPU-008 Manto Pitarrilla 78.70 151.00 72.30 0.05 64 0.01 0.49 2.53 167 Including 90.10 90.60 0.50 0.09 719 0.02 7.95 14.65 1,450 Including 141.50 142.50 1.00 0.02 463 0.07 4.78 8.34 886 BPU-009 Manto Pitarrilla 60.90 173.70 112.80 0.05 41 0.08 0.27 1.67 107 Including 133.90 134.30 0.40 0.01 203 0.70 0.91 25.40 1,131 BPU-010 Manto Pitarrilla 57.60 142.00 84.40 0.04 75 0.08 0.34 3.79 219 Including 133.60 134.60 1.00 0.03 387 0.74 0.92 20.60 1,144 BPU-011 Manto Pitarrilla 45.10 132.00 86.90 0.08 36 0.02 0.16 1.77 103 Including 45.10 45.35 0.25 3.62 129 0.03 0.82 5.88 360 Including 69.55 70.30 0.75 0.01 8 0.01 0.00 18.65 672 BPU-012 Manto Pitarrilla 73.50 132.85 59.35 0.15 24 0.01 0.16 3.40 149 Including 86.60 87.60 1.00 0.01 137 0.04 1.10 13.85 659 Including 95.65 96.65 1.00 0.07 76 0.03 0.79 7.98 381 BPU-013 Manto Pitarrilla 60.80 116.95 56.15 0.10 20 0.02 0.06 0.98 57 Including 61.80 62.80 1.00 0.01 47 0.02 0.10 3.15 162 Including 107.60 108.60 1.00 0.16 124 0.03 0.16 0.41 143 BPU-014 Manto Pitarrilla 64.05 115.00 50.95 0.07 39 0.02 0.23 1.90 113 Including 70.85 71.50 0.65 0.06 23 0.01 0.09 11.25 426 Including 114.00 115.00 1.00 0.86 432 0.04 2.23 1.45 542 BPU-015 Manto Pitarrilla 52.35 116.70 64.35 0.09 27 0.01 0.17 2.70 128 Including 62.00 63.00 1.00 <0.005 16 0.01 0.03 13.95 513 Including 99.70 100.60 0.90 <0.005 120 0.01 1.23 2.59 245 BPU-016 Manto Pitarrilla 68.30 105.00 36.70 0.35 46 0.02 0.26 2.02 125 Including 84.00 85.00 1.00 0.04 119 0.04 0.64 3.68 267 Including 92.05 93.00 0.95 0.02 98 0.08 0.62 8.52 417 BPU-017 Manto Pitarrilla 66.70 117.80 51.10 0.08 47 0.04 0.34 1.35 104 Including 66.70 67.50 0.80 <0.005 10 0.01 0.02 5.16 194 Including 102.65 103.35 0.70 0.13 377 0.16 3.85 1.36 527 BPU-018 Manto Pitarrilla 58.80 131.20 72.40 0.07 23 0.02 0.14 1.14 67 Including 64.45 65.45 1.00 0.15 11 0.01 0.04 6.98 261 Including 99.60 100.60 1.00 0.05 116 0.03 0.63 0.89 164 BPU-019 Manto Pitarrilla 62.50 118.55 56.05 0.08 11 0.02 0.03 1.01 48 Including 67.75 68.50 0.75 0.01 45 0.03 0.25 3.08 161 Including 116.00 116.80 0.80 1.20 21 0.03 0.05 2.92 126 BPU-020 Manto Pitarrilla 59.60 127.15 67.55 0.08 32 0.01 0.15 2.03 108 Including 72.20 73.20 1.00 <0.005 12 0.00 0.04 6.88 258 Including 104.30 105.30 1.00 0.35 202 0.05 1.02 6.32 454 BPU-021 Manto Pitarrilla 61.00 127.40 66.40 0.07 24 0.02 0.09 1.64 85 Including 63.00 64.00 1.00 0.01 13 0.01 0.05 14.40 527 Including 105.00 106.00 1.00 0.01 88 0.04 0.69 1.86 173 BPU-022 Manto Pitarrilla 149.50 396.55 247.05 0.05 129 0.09 0.84 2.55 242 Including 154.10 155.10 1.00 0.04 110 0.05 1.05 11.00 529 Including 197.60 198.60 1.00 0.08 142 0.06 1.23 15.55 728 Including 278.50 279.50 1.00 0.03 716 0.63 4.19 6.61 1,062 Including 314.75 315.35 0.60 0.29 2,680 2.38 24.03 18.90 3,987 Including 361.40 362.00 0.60 0.40 604 0.07 3.95 3.74 841 (1) Note: No capping has been applied but high-grade intervals have been highlighted. True width has been calculated from interpreted sections. Gold (Au) and copper (Cu) have been excluded in the AgEq calculation.
Figure 1. Casas Blanca Longitudinal Section
Figure 2. Victoria Longitudinal Section
Figure 3. Danna Longitudinal Section
Figure 4. Palmito Longitudinal Section
Figure 5. Cross Section – Manto Pitarrilla
Since acquiring the Pitarrilla Project in July 2022, Endeavour has undertaken an extensive re-logging of historical drill core to enhance its understanding of the deposit’s geology and mineralization controls. The Company has prioritized the identification and delineation of multiple high-grade feeder structures, which are believed to be the primary conduits for the silver, lead, and zinc sulphide mineralization. These structures are interpreted to extend into the high-grade manto, initially outlined by the previous owner. A Technical Report supporting updated Mineral Resource Estimates was published on November 21, 2022 ( refer to news release dated December 8, 2022 ).Pitarrilla is a large undeveloped silver, lead, and zinc project located 160 kilometres north of Durango City, in northern Mexico. The project is within the Municipality of Santa María del Oro and Indé on the eastern flank of the Sierra Madre Occidental mountain range. The property comprises 4,752 hectares across five concessions and has significant infrastructure in place with direct access to utilities. A significant resource has been defined with over 240,000 metres of exploration drilling incurred to date. A number of key permits are already in place for underground mining and development, including permits for water use and discharge, general use of explosives, change use of soil, as well as underground mining and development which are permitted under an Environmental Impact Statement.
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.
Quality Assurance / Quality Control
Drill core samples were shipped to ALS Limited in Zacatecas, Mexico for sample preparation and then for analysis at the ALS laboratory in North Vancouver and rock samples were shipped to SGS Lab in Durango, Mexico for sample preparation and analysis. The ALS Zacatecas, North Vancouver facilities and SGS lab are ISO 9001 and/or ISO/IEC 17025 certified. Silver and base metals were analyzed using a four-acid digestion with an ICP-AES / ICP-OES finish and gold was assayed by 30-gram fire assay with atomic absorption (“AA”) spectroscopy finish. Over limit analyses for silver were re-assayed by 30-gram fire assay and gravimetric finish and for lead and zinc re-assayed using an ore-grade four-acid digestion with ICP-AES / ICP-OES finish.
Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s quality assurance / quality control protocol.
Qualified Person
Dale Mah, P.Geo., Vice President Corporate Development, a qualified person under NI 43-101, has approved the scientific and technical information contained in this news release.
Contact Information
Allison Pettit
Director, Investor Relations
Email: moc.revlisrde@tittepa
Website: www.edrsilver.comCautionary 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 anticipated work program at Pitarrilla, areas of focus and priorities for the work program at Pitarrilla, a future economic study at Pitarrilla, Pitarrilla’s potential to create shareholder value, and 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 changes in production and costs guidance; the reliability of Mineral Resource Estimates; results of the work program at Pitarrilla; the ongoing effects of inflation and supply chain issues on mine economics; changes in national and local governments’ legislation, taxation, controls, regulations and political or economic developments in Canada 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 input and labour; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Peruvian sol, Mexican peso, Chilean peso, Canadian dollar and U.S. dollar); 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 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, the reliability of Mineral Resource Estimates; anticipated results of the work program at Pitarrilla, work programs will continue and will be completed in accordance with management’s expectations and achieve their stated 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.
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