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Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today

1. Endeavour Silver demonstrated strong Q2 performance with increased production. 2. Revenue grew 46% YoY to $85.3 million, reflecting higher silver prices. 3. Cash costs rose 14% to $15.35 per ounce due to operational challenges. 4. Minera Kolpa acquisition strengthens growth profile as Terronera approaches production. 5. Terronera's production ramp-up continues, expected to boost future revenues.

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FAQ

Why Bullish?

Endeavour's significant revenue growth and production increase position it favorably in the market, reminiscent of past growth surges seen when similar results were achieved by mining companies. The ongoing transition to commercial production at the Terronera suggests a strengthening pipeline that may enhance EXK’s performance due to potential silver price correlativity.

How important is it?

The article details essential financial metrics and operational updates that could affect EXK's market position, especially as Endeavour's performance can often be correlated with sector price movements. Given Endeavour's positioning and recent achievements, the findings are highly relevant for predicting EXK's price movements, indicating notable investor interest.

Why Short Term?

The immediate operational updates regarding revenue and production can influence stock prices quickly, similar to past instances where operational performance led to spikes in stock valuation within short time frames. As Endeavour begins commercial production at Terronera, the positive sentiment is likely to manifest in price movements in the weeks following these reports.

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VANCOUVER, British Columbia, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three and six months ended June 30, 2025. All dollar amounts are in US dollars ($). “We are pleased with Endeavour’s strong performance this quarter, highlighted by increased silver equivalent production, robust revenue growth, and the successful integration of Minera Kolpa into our portfolio,” said Dan Dickson, Chief Executive Officer. “Our team delivered solid operating results, achieving higher sales at favorable market prices while maintaining costs below guidance. The completion of the Minera Kolpa acquisition has enhanced the Company’s growth profile, and with Terronera nearing commercial production, we are transforming our operational landscape with an expanded resource base and increased production capacity. These milestones, combined with a steadfast commitment to operational efficiency and disciplined capital management, position the company to leverage future opportunities and deliver sustainable growth for our shareholders well into the future.” Q2 2025 Highlights Strong and Consistent Production: 1,483,736 ounces (“oz”) of silver and 7,755 oz of gold for 2.5 million oz silver equivalent (“AgEq”)(1) with the addition of Kolpa, 13% higher than the same period in 2024.Higher oz Sold with Higher Realized Prices: $85.3 million from the sale of 1,455,680 oz of silver and 7,706 oz of gold at average realized prices of $32.95 per oz silver and $3,320 per oz gold. Revenue from operations is 46% higher than in the same period in 2024.Positive Mine Operating Cash Flow: $22.9 million in operating cash flow before working capital changes(2), 21% higher than the same period in 2024.Operating Costs Below Guidance: Cash costs(2) of $15.35 per oz payable silver and all-in sustaining costs(2) of $25.16 per oz, net of by-product credits.Solid Cash Position: Ended the second quarter with a robust consolidated cash balance of $52.5 million.Completed Acquisition of Minera Kolpa: On May 1, 2025, the Company completed the acquisition of Minera Kolpa, including a $50 million bought deal equity financing, used to fund the cash component of the Kolpa Acquisition (See news release dated April 16, 2025 here), and commenced payments on the US$35 million copper stream with Versamet Royalties Corporation (See news release dated May 1, 2025 here). Additional Credit Facility of US$15 Million: The Company amended and restated the Terronera credit facility to increase the principal amount from $120 million to $135 million (See news release dated June 24, 2025 here).Terronera Nearing Commercial Production: Q2 results have been impacted by Terronera’s operating losses during the commissioning phase. On August 5, 2025 the Company announced that the throughput has rapidly increased with milling rates between 1,900 and 2,000 tpd at the end of July and that silver and gold recoveries have averaged 71% and 67%, respectively during second half of the July. (See news release dated August 5, 2025 here). Financial Overview Three Months Ended June 30Q2 2025 HighlightsSix Months Ended June 3020252024% Change 20252024% Change   Production   1,483,7361,312,57213%Silver ounces produced2,689,5292,772,578(3%)7,75510,549(26%)Gold ounces produced16,09320,682(22%)3,503--Lead tonnes produced3,503--2,316--Zinc tonnes produced2,316--2,528,5622,156,45317%Silver equivalent ounces produced(1)4,401,4014,427,130(1%)15.3513.4314%Cash costs per silver ounce(2)15.5913.3017%25.2520.4823%Total production costs per ounce(2)24.7919.6526%25.1623.139%All-in sustaining costs per ounce (2)24.8522.2412%303,828218,98939%Processed tonnes513,335440,78316%142.00140.361%Direct operating costs per tonne(2)142.30137.653%201.24192.684%Direct costs per tonne(2)203.70187.199%   Financial   85.358.346%Revenue from operations ($ millions)148.8122.022%1,455,6801,217,56920%Silver ounces sold2,679,3642,973,663(10%)7,7069,887(22%)Gold ounces sold16,24420,767(22%)32.9528.9414%Realized silver price per ounce32.5225.7126%3,3202,37440%Realized gold price per ounce3,1102,23839%3.3--Pre-production revenue ($ millions)3.3--85,711--Pre-production silver equivalent ounces sold(1)85,711--(20.5)(14.0)(46%)Net earnings (loss) ($ millions)(53.4)(15.2)(251%)(9.2)(1.0)(841%)Adjusted net earnings (loss) ($ millions)(2)(9.4)(0.7)(1,227%)7.710.2(24%)Mine operating earnings ($ millions)20.621.9(6%)22.918.921%Mine operating cash flow before taxes ($ millions)(2)45.039.514%14.48.178%Operating cash flow before working capital changes(2)22.718.324%1.4(2.3)162%EBITDA ($ millions)(2)(16.7)11.3(248%)10.811.9(10%)Adjusted EBITDA ($ millions)(2)25.928.1(8%)(15.3)64.5(124%)Working capital ($ millions) (2)(15.3)64.5(124%)   Shareholders   (0.07)(0.06)(17%)Earnings (loss) per share – basic ($)(0.20)(0.06)(233%)(0.03)(0.00)(100%)Adjusted earnings (loss) per share – basic ($)(2)(0.03)(0.00)(100%)0.050.0367%Operating cash flow before working capital changes per share(2)0.080.080%283,534,276242,889,67917%Weighted average shares outstanding272,987,662235,201,63016%(1) Silver equivalent (AgEq) is calculated using an 80:1 Ag:Au ratio, 60:1 (Ag:Pb) ratio, 85:1 (Ag:Zn) ratio and 300:1 (Ag:Cu) ratio.(2) These are non-IFRS financial measures and ratios. Further details on these non-IFRS financial measures and ratios are provided at the end of this press release and in the MD&A accompanying the Company’s financial statements, which can be viewed on the Company’s website, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Direct operating costs per tonne in Q2 2025 increased to $142.00, slightly higher than $140.36 in Q2 2024. This metric was impacted by: higher costs per tonne at Bolañitos with lower throughput as a result of maintenance of the floatation circuit and crushing area; the addition of Kolpa which has higher direct operating costs per tonne; offset by lower costs at Guanaceví. Consolidated cash costs per oz, net of by-product credits, were 14% higher in Q2 2025 at $15.35 per oz, compared with Q2 2024, driven by an increase in costs at Bolañitos and Guanaceví from lower production, and partially offset by addition of Kolpa which at $11.81 per oz decreases the average cash cost. All-In-Sustaining Costs (“AISC”) in Q2 2025 was $25.16 per silver oz in Q2 2025, 9% higher compared to $23.13 per oz in Q2 2024, predominantly due to the addition of Kolpa which at $25.66 per oz increased the average AISC, and a slight increase of AISC at Guanaceví. In Q2 2025, the Company’s mine operating earnings were $7.7 million (Q2 2024 – $10.2 million) from revenue of $85.3 million (Q2 2024 – $58.3 million) and cost of sales of $80.9 million (Q2 2024 – $48.1 million). The decrease in mine operating earnings is predominantly due to Terronera’s mine operating loss of $5.9 million as the mine ramped-up towards commercial production. The increase in the cost of sales compared to the prior period was driven by $21.5 million from Kolpa and $9.2 million increase from Terronera. In Q2 2025, the Company had operating loss of $4.8 million (Q2 2024 – earnings of $1.7 million) after exploration, evaluation and development costs of $4.9 million (Q2 2024 – $4.3 million), and general and administrative expense of $7.6 million (Q2 2024 – $4.2 million). The increase in general and administrative expense is primarily due to the $3.6 million acquisition costs of Minera Kolpa. The loss before taxes for Q2 2025 was $14.6 million (Q2 2024 – loss of $11.3 million) after loss on derivative contracts of $10.0 million (Q2 2024 – $9.2 million) and partially offset by a foreign exchange gain of $0.7 million (Q2 2024 – loss of $4.0 million), investment and other income of $0.7 million (Q2 2024 – $0.6 million), and finance costs of $1.1 million (Q2 2024 – $0.3 million). The Company realized a net loss for the period of $20.5 million (Q2 2024 – net loss of $14.0 million) after an income tax expense of $5.9 million (Q2 2024 – $2.7 million). The deferred tax recovery was realized as a result of recognizing previously unutilized losses during the period. Adjusted net loss was $9.2 million compared to adjusted net loss of $1.0 million in Q2 2024, largely due to the operating loss from Terronera during the commissioning phase and higher depreciation and tax costs. This news release should be read in conjunction with the Company’s condensed consolidated interim financial statements for the period ended June 30, 2025, and associated Management’s Discussion and Analysis (“MD&A”) which are available on the Company’s website, www.edrsilver.com, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Conference Call Management will host a conference call to discuss the Company’s Q2 2025 financial results today at 10:00am Pacific (PST)/ 1:00pm Eastern (EST). Date:Wednesday, August 13, 2025  Time:10:00am Pacific (PDT) / 1:00pm Eastern (EDT)  Telephone:Canada & US +1-833-752-3348 International +1-647-846-2804  Replay:Canada/US Toll Free +1-855-669-9658 International +1-412-317-0088 Access code is 6575935   To access the replay using an international dial-in number, please click here. The replay will also be available on the Company’s website at www.edrsilver.com. Management Update Endeavour is pleased to announce the promotion of Allison Pettit as Vice President, Investor Relations, joining the company’s management team, effective August 1, 2025. With over a decade of experience in the mining sector, Ms. Pettit has a proven track record working in investor relations, corporate communications, and stakeholder engagement. She joined Endeavour in 2024 after six years at NOVAGOLD Resources Inc., where she played a key role in enhancing corporate visibility and strengthening shareholder relationships. Ms. Pettit will continue to lead Endeavour’s investor relations and communications strategies, supporting the company’s growth and strategic objectives. She holds a Bachelor of Business Administration and serves as a Board member for the BC Chapter of the Canadian Investor Relations Institute. Endeavour warmly welcomes Ms. Pettit to its management team as the company advances its growth strategy and commitment to long-term shareholder value. 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.  Contact Information Allison PettitVice President, Investor Relations Tel: (877) 685 - 9775Email: apettit@edrsilver.com Website: www.edrsilver.com Endnotes 1 Silver equivalent (AgEq) AgEq is calculated using an 80:1 Ag:Au ratio, 60:1 (Ag:Pb) ratio, 85:1 (Ag:Zn) ratio and 300:1 (Ag:Cu) ratio. 2 Non-IFRS and Other Financial Measures and Ratios Certain non-IFRS and other non-financial measures and ratios are included in this press release, including cash costs per silver ounce, total production costs per ounce, all-in costs per ounce, AISC per ounce, direct operating costs per tonne, direct costs per tonne, silver co-product cash costs, gold co-product cash costs, realized silver price per ounce, realized gold price per ounce, adjusted net earnings (loss) adjusted net earnings (loss) per share, mine operating cash flow before taxes, working capital, operating cash flow before working capital adjustments, operating cash flow before working capital changes per share, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA per share, sustaining and growth capital and adjusted net earnings (loss). Please see the June 30, 2025 MD&A for explanations and a discussion of these non-IFRS and other non-financial measures and ratios. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards (“IFRS”), provide management and investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to other issuers. Certain additional disclosures for these non-IFRS measures have been incorporated by reference and can be found in the section “Non-IFRS Measures” in the June 30, 2025 MD&A available on SEDAR+ at www.sedarplus.com. Reconciliation of Working Capital      Expressed in thousands of US dollars As at June 30, 2025 As at December 31, 2024 Current assets$197,877 $157,647 Current liabilities220,043 78,866 Working capital($22,166) $78,781   Reconciliation of Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share    Expressed in thousands US dollarsThree Months Ended June 30Six Months Ended June 30 2025202420252024Net earnings (loss) for the period per financial statements($20,455) ($14,007) ($53,362) ($15,201) Unrealized foreign exchange (Gain) loss(2,802) 2,196 (2,527) 2,332 (Gain) loss on derivatives & copper stream valuation10,088 9,253 42,019 9,253 Acquisition costs3,602 - 3,602 - Change in fair value of investments(178) 425 (321) 1,286 Change in fair value of cash settled DSUs582 1,159 1,220 1,624 Adjusted net earnings (loss)($9,163) ($974) ($9,369) ($706) Basic weighted average share outstanding283,534,276 242,889,679 272,987,662 235,201,630 Adjusted net earnings (loss) per share($0.03) ($0.00) ($0.03) ($0.00)   Reconciliation of Mine Operating Cash Flow Before Taxes    Expressed in thousands US dollarsThree Months Ended June 30Six Months Ended June 30 2025202420252024Mine operating earnings per financial statements$7,744 $10,196 $20,586 $21,852 Share-based compensation136 74 170 153 Depreciation15,010 8,639 24,216 17,516 Mine operating cash flow before taxes$22,890 $18,909 $44,972 $39,521          Reconciliation of Operating Cash Flow Before Working Capital Changes and Operating Cash Flow Before Working Capital Changes Per Share    Expressed in thousands US dollarsThree Months Ended June 30Six Months Ended June 30(except for per share amounts)2025202420252024Cash from (used in) operating activities per financial statements$21,564 $12,367 $24,927 $16,950 Net changes in non-cash working capital per financial statements7,192 4,301 2,207 (1,350) Operating cash flow before working capital changes$14,372 $8,066 $22,720 $18,300 Basic weighted average shares outstanding283,534,276 242,889,679 272,987,662 235,201,630 Operating cash flow before working capital changes per share$0.05 $0.03 $0.08 0.08           Reconciliation of EBITDA and Adjusted EBITDA    Expressed in thousands US dollarsThree Months Ended June 30Six Months Ended June 30 2025202420252024Net earnings (loss) for the period per financial statements($20,455) ($14,007) ($53,362) ($15,201) Depreciation – cost of sales15,010 8,639 24,216 17,516 Depreciation – exploration, evaluation and development4 188 254 347 Depreciation – general & administration102 106 207 205 Finance costs846 103 1,030 238 Current income tax expense9,094 2,878 14,373 8,545 Deferred income tax expense (recovery)(3,199) (163) (3,413) (396) EBITDA$1,402 ($2,256) ($16,695) $11,254 Share based compensation1,681 1,162 2,197 2,332 Unrealized foreign exchange (gain) loss(2,802) 2,196 (2,527) 2,332 (Gain) loss on derivatives & copper stream valuation10,088 9,253 42,019 9,253 Change in fair value of investments(178) 425 (321) 1,286 Change in fair value of cash settled DSUs582 1,159 1,220 1,624 Adjusted EBITDA$10,773 $11,939 $25,893 $28,081 Basic weighted average shares outstanding283,534,276 242,889,679 272,987,662 235,201,630 Adjusted EBITDA per share$0.04 $0.05 $0.09 $0.12   Reconciliation of Cash Cost Per Silver Ounce, Total Production Costs Per Ounce, Direct Operating Costs Per Tonne, Direct Costs Per Tonne   Expressed in thousands of US dollars Three Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements$23,058 $11,594 $16,301 $50,953 Purchase of the third-party material(9,988) - - (9,988) Smelting and refining costs included in revenue- 345 1,088 1,433 Opening finished goods(4,763)(1,328) (610) (6,701) Closing finished goods5,939 935 574 7,448 Direct operating costs14,246 11,546 17,353 43,145 Purchase of the third-party material9,988 - - 9,988 Royalties6,197 164 - 6,361 Special mining duty (1)1,079 423 148 1,650 Direct costs31,510 12,133 17,501 61,144 By-products sales(11,635) (13,962) (13,275) (38,872) Opening by-products inventory fair market value2,232 1,410 544 4,186 Closing by-products inventory fair market value(2,302) (1,310) (526) (4,138) Cash costs net of by-products19,805 (1,729) 4,244 22,320 Depreciation6,315 2,747 5,157 14,219 Share-based compensation66 46 24 136 Opening finished goods depreciation(1,618) (384) (134) (2,136) Closing finished goods depreciation1,843 214 125 2,182 Total production costs$26,411 $894 $9,416 $36,721           Expressed in thousands of US dollarsThree Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements$23,001 $10,702 - $33,703 Purchase of the third-party material(5,043) - - (5,043) Smelting and refining costs included in revenue- 447 - 447 Opening finished goods(2,314) (651) - (2,965) Closing finished goods4,038 557 - 4,595 Direct operating costs19,682 11,055 - 30,737 Purchase of the third-party material5,043 - - 5,043 Royalties5,556 92 - 5,648 Special mining duty(1)129 637 - 766 Direct costs30,410 11,784 - 42,194 By-products sales(8,622) (14,852) - (23,474) Opening by-products inventory fair market value871 851 - 1,722 Closing by-products inventory fair market value(2,187) (751) - (2,938) Cash costs net of by-products20,472 (2,968) - 17,504 Depreciation5,965 2,674 - 8,639 Share-based compensation60 14 - 74 Opening finished goods depreciation(771) (219) - (990) Closing finished goods depreciation1,326 144 - 1,470 Total production costs$27,052 ($355) - $26,697           Expressed in thousands of US dollars Three Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes96,834 88,098 118,896 303,828 Payable silver ounces994,882 100,183 359,347 1,454,412          Cash costs per silver ounce$19.91 ($17.26) $11.81 $15.35 Total production costs per ounce$26.55 $8.92 $26.20 $25.25 Direct operating costs per tonne$147.11 $131.06 $145.95 $142.00 Direct costs per tonne$325.40 $137.72 $147.20 $201.24           Expressed in thousands of US dollars Three Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes112,897 106,092 - 218,989 Payable silver ounces1,192,165 111,296 - 1,303,461          Cash costs per silver ounce$17.17 ($26.67) - $13.43 Total production costs per ounce$22.69 ($3.19) - $20.48 Direct operating costs per tonne$174.34 $104.20 - $140.36 Direct costs per tonne$269.36 $111.07 - $192.68           Expressed in thousands of US dollars Six Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements$48,502 $21,323 $16,301 $86,126 Purchase of the third-party material(15,854) - - (15,854) Smelting and refining costs included in revenue- 781 1,088 1,869 Opening finished goods(5,448) (485) (610) (6,543) Closing finished goods5,939 935 574 7,448 Direct operating costs33,139 22,554 17,353 73,046 Purchase of the third-party material15,854 - - 15,854 Royalties12,263 341 - 12,604 Special mining duty (1)2,063 854 148 3,065 Direct costs63,319 23,749 17,501 104,569 By-products sales(24,426) (25,954) (13,275) (63,655) Opening by-products inventory fair market value3,185 772 544 4,501 Closing by-products inventory fair market value(2,302) (1,310) (526) (4,138) Cash costs net of by-products39,776 (2,743) 4,244 41,277 Depreciation12,884 5,384 5,157 23,425 Share-based compensation86 60 24 170 Opening finished goods depreciation(1,188) (92) (134) (1,414) Closing finished goods depreciation1,843 214 125 2,182 Total production costs$53,401 $2,823 $9,416 $65,640           Expressed in thousands of US dollarsSix Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Direct production costs per financial statements$49,887 $20,521 $   - $70,408 Purchase of the third-party material(7,435) - - (7,435) Smelting and refining costs included in revenue- 940 - 940 Opening finished goods(7,137) (699) - (7,836) Closing finished goods4,038 557 - 4,595 Direct operating costs39,353 21,319 - 60,672 Purchase of the third-party material7,435 - - 7,435 Royalties11,888 168 - 12,056 Special mining duty(1)1,650 697 - 2,347 Direct costs60,326 22,184 - 82,510 By-products sales(19,353) (27,117) - (46,470) Opening by-products inventory fair market value2,909 619 - 3,528 Closing by-products inventory fair market value(2,187) (751) - (2,938) Cash costs net of by-products41,695 (5,065) - 36,630 Depreciation11,780 5,736 - 17,516 Share-based compensation122 31 - 153 Opening finished goods depreciation(1,459) (197) - (1,656) Closing finished goods depreciation1,326 144 - 1,470 Total production costs$53,464 $   649 $   - $54,113           Expressed in thousands of US dollars Six Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes199,272 195,167 118,896 513,335 Payable silver ounces2,007,163 281,260 359,347 2,647,770          Cash costs per silver ounce$19.82 ($9.75) $11.81 $15.59 Total production costs per ounce$26.60 $10.04 $26.20 $24.79 Direct operating costs per tonne$166.30 $115.56 $145.95 $142.30 Direct costs per tonne$317.75 $121.69 $147.20 $203.70           Expressed in thousands of US dollars Six Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes227,901 212,882 - 440,783 Payable silver ounces2,523,900 229,869 - 2,753,769          Cash costs per silver ounce$16.52 ($22.03) - $13.30 Total production costs per ounce$21.18 $2.82 - $19.65 Direct operating costs per tonne$172.68 $100.14 - $137.65 Direct costs per tonne$264.70 $104.21 - $187.19  (1) Special mining duty is an EBITDA royalty tax presented as a current income tax in accordance with IFRS.  Reconciliation of All-In Costs Per Ounce and AISC per ounce   Expressed in thousands of US dollars Three Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products$19,805 ($1,729) $4,244 $22,320 Operations share-based compensation66 46 24 136 Corporate general and administrative1,074 323 4,755 6,152 Acquisition costs- - (3,602) (3,602) Corporate share-based compensation756 274 323 1,353 Reclamation - amortization/accretion159 90 41 290 Mine site expensed exploration29 27 1,036 1,092 Equipment loan payments- - 66 66 Capital expenditures sustaining4,781 1,675 2,332 8,788 All-In-Sustaining Costs$26,670 $706 $9,219 $36,595 Acquisition costs      3,602 Growth exploration, evaluation and development      3,633 Growth capital expenditures      45,362 All-In-Costs      $89,192           Expressed in thousands of US dollars Three Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products$20,472 ($2,968) - $17,504 Operations share-based compensation60 14 - 74 Corporate general and administrative2,263 910 - 3,173 Corporate share-based compensation684 277 - 961 Reclamation - amortization/accretion101 73 - 174 Mine site expensed exploration341 335 - 676 Equipment loan payments78 67 - 145 Capital expenditures sustaining5,245 2,199 - 7,444 All-In-Sustaining Costs$29,244 $907 $- $30,151 Growth exploration, evaluation and development      3,299 Growth capital expenditures      48,367 All-In-Costs      $81,817           Expressed in thousands of US dollars Three Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes96,834 88,098 118,896 303,828 Payable silver ounces994,882 100,183 359,347 1,454,412 Silver equivalent production (ounces)1,282,853 440,678 805,032 2,528,562          All-in-Sustaining cost per ounce$26.81 $7.04 $25.66 $25.16           Expressed in thousands of US dollars Three Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes112,897 106,092 - 218,989 Payable silver ounces1,192,165 111,296 - 1,303,461 Silver equivalent production (ounces)1,535,161 621,292 - 2,156,453          All-in-Sustaining cost per ounce$24.53 $8.15 - $23.13           Expressed in thousands of US dollars Six Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products$39,776 ($2,743) $4,244 $41,277 Operations share-based compensation86 60 24 170 Corporate general and administrative3,750 1,403 4,755 9,908 Acquisition costs- - (3,602) (3,602) Corporate share-based compensation1,050 393 323 1,766 Reclamation - amortization/accretion307 175 41 523 Mine site expensed exploration299 201 1,036 1,536 Equipment loan payments- - 66 66 Capital expenditures sustaining8,227 3,600 $2,332 14,159 All-In-Sustaining Costs$53,495 $3,089 $9,219 $65,803 Acquisition costs      3,602 Growth exploration, evaluation and development      7,408 Growth capital expenditures      81,576 All-In-Costs      $158,389           Expressed in thousands of US dollars Six Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Cash costs net of by-products$41,695 ($5,065) $- $36,630 Operations share-based compensation122 31 - 153 Corporate general and administrative4,467 1,711 - 6,178 Corporate share-based compensation1,374 527 - 1,901 Reclamation - amortization/accretion203 150 - 353 Mine site expensed exploration463 649 - 1,112 Equipment loan payments206 287 - 493 Capital expenditures sustaining9,961 4,465 - 14,426 All-In-Sustaining Costs$58,491 $2,755 $- $61,246 Growth exploration, evaluation and development      6,823 Growth capital expenditures      86,272 All-In-Costs      $154,341           Expressed in thousands of US dollars Six Months EndedJune 30, 2025 Guanaceví Bolañitos Kolpa Total Throughput tonnes199,272 195,167 118,896 513,335 Payable silver ounces2,007,163 281,260 359,347 2,647,770 Silver equivalent production (ounces)2,617,300 979,070 805,032 4,401,401          All-in-Sustaining cost per ounce$26.65 $10.98 $25.66 $24.85           Expressed in thousands of US dollars Six Months EndedJune 30, 2024 Guanaceví Bolañitos Kolpa Total Throughput tonnes227,901 212,882 - 440,783 Payable silver ounces2,523,900 229,869 - 2,753,769 Silver equivalent production (ounces)3,200,854 1,226,276 - 4,427,129          All-in-Sustaining cost per ounce$23.17 $11.98 - $22.24           Reconciliation of Sustaining Capital and Growth Capital    Expressed in thousands of US dollarsThree Months Ended June 30Six Months Ended June 30 2025202420252024Capital expenditures sustaining$8,788 $7,444 $14,159 $14,426 Growth capital expenditures45,362 48,367 81,576 86,272 Property, plant and equipment expenditures per Consolidated Statement of Cash Flows$54,150 $55,811 $95,735 $100,698           Expressed in thousands of US dollarsThree Months Ended June 30Six Months Ended June 30 2025202420252024Mine site expensed exploration$1,092 $676 $1,536 $1,112 Growth exploration, evaluation and development3,633 3,299 7,408 6,823 Total exploration, evaluation and development4,725 3,975 8,944 7,935 Exploration, evaluation and development depreciation4 188 254 347 Exploration, evaluation and development share-based compensation193 127 262 278 Exploration, evaluation and development expense$4,922 $4,290 $9,460 $8,560           Reconciliation of Realized Silver Price Per Ounce and Realized Gold Price Per Ounce    Expressed in thousands of US dollarsThree Months Ended June 30Six Months Ended June 30 2025 2024 2025 2024 Gross silver sales$48,873 $35,234 $88,024 $76,456 Silver ounces sold1,483,311 1,217,569 2,706,995 2,973,663 Realized silver price per ounce$32.95 $28.94 $32.52 $25.71  inclusive of 27,631 oz of silver from pre-production at Terronera           Expressed in thousands of US dollarsThree Months Ended June 30Six Months Ended June 30 2025 2024 2025 2024 Gross gold sales$27,989 $23,474 $52,772 $46,470 Gold ounces sold8,431 9,887 16,969 20,767 Realized gold price per ounce$3,320 $2,374 $3,110 $2,238   inclusive of 725 oz of gold from pre-production at Terronera Cautionary 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 Company’s forecasted operations, costs and expenditures, the Company’s exploration programs, extensions of mineralisation and publishing of future resource estimates; and the timing and results of various related activities, including achieving commercial production at Terronera. 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 unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar, Peruvian sol, and U.S. dollar); fluctuations in interest rates; effects of inflation; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Peru 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 inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the Debt Facility; challenges to the Company’s title to properties; May 27, 2025 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, forecasted mine economics, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production 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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