Endeavour Silver | Terronera

Portfolio | Operations

Terronera Completion Video m

Operations | Terronera

With our Terronera mine achieving commercial production, Endeavour Silver advances its goal of becoming a premier silver producer.

Terronera Website m Construction Journey m

Quick Facts

Location	San Sebastian del Oeste Municipality, Jalisco, Mexico
Land Package	24 mining concessions in 17,970 hectares
Infrastructure	Underground mine, ramp access, long hole, cut & fill mining Plant: 2,000 tpd capacity floatation plant
Geology	Low sulfidation epithermal vein deposits
Metals Mined	Silver and gold
Mining Method	Sub-level Stoping in the form of long hole long hole drill and blast with backfill
Processing Method	Conventional flotation
2025 Production	average recoveries of 82.6% for silver and 72.5% for gold
Reserves & Resources	Read More

Commercial production commenced on October 1, 2025, at Endeavour Silver’s Terronera underground silver-gold mine in Jalisco, Mexico, now set to become the company’s flagship operation with an expected 10-year mine life.

Terronera is delivering benefits to the local area while reinforcing Endeavour Silver’s commitment to sustainable and responsible economic development and its contribution to Mexico’s silver production.

2026 Outlook

In 2026, plant throughput at Terronera is expected to range from 1,950 to 2,050 tonnes per day (tpd), averaging approximately 2,000 tpd, with material sourced from the Terronera vein. Cash costs per ounce1, AISC per ounce1, and direct costs1 on a per-tonne basis are anticipated to be below the consolidated costs, driven by higher metal production and the efficiency of the newer, more sophisticated mine and processing plant. During H1 2026, mining activities will continue to strategically focus on lower-grade areas of the deposit, including mining lower grade stockwork. This approach aligns with the planned production ramp-up and the mine’s transition through various zones. Looking ahead, operations are scheduled to shift into higher-grade areas by H2 2026, which is expected to significantly improve grade averages. The team also remains committed to optimizing and refining plant processes to stabilize throughput and enhance metal recoveries.

Terronera achieved commercial production on October 1, 2025, therefore three months of results are included in the 2025 data below.

Operating Data	2025
Silver produced (oz)	352,002
Gold produced (oz)	8,148
Silver equivalent metal (oz) 80:1 ratio	1,003,822
Ore processed (t)	154,180
Silver/gold grade (g/t)	86/2.27
Cash operating costs ($/oz sold) ¹	-
All-in sustaining costs ($/oz sold) ¹	-

¹These are examples of Non-IFRS Financial Measures. Please refer to the Non-IFRS Measures section of the Company’s Management’s Discussion & Analysis for further information and definitions of these terms.

Responsible Mining

Mexico is one of the world’s premier mining jurisdictions, with a long history of successful mining. The Terronera mine, an original discovery that has grown in size and scale over the last decade, is now in commercial production. This milestone brings significant employment and business opportunities to the local area, as well as improved infrastructure, while Endeavour Silver remains committed to supporting sustainable economic activity in the region.

Located in the San Sebastian mining district of Jalisco state, Mexico, Terronera sits within the Sierra Madre volcanic belt, which hosts most of Mexico’s gold and silver deposits. It is a low-sulphidation epithermal vein system mined using a combination of long-hole and cut-and-fill techniques. The underground mine consists of two deposits, Terronera and La Luz, which feed a centralized 2,000-tonne-per-day processing plant. Based on the Feasibility Study, Terronera is expected to produce 4 million ounces of silver and 38,000 ounces of gold annually over its 10-year mine life.