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VANCOUVER, British Columbia, December 02, 2021 (GLOBE NEWSWIRE) – This press release is issued by Endeavor Silver Corp. (TSX: EDR, NYSE: EXK) (“Effort”) In accordance with Regulation 62-103 The early warning system and issues with takeover bids and insider reports, in connection with the acquisition by Endeavor of certain securities of Guanajuato Silver Company Ltd. (“Money”), A British Columbia company headquartered at 578-999 Canada Place, Vancouver, British Columbia, V6C 3E1.

On November 30, 2021, Endeavor acquired 5,750,000 units (“Units“) of GSilver at a purchase price of $ 0.55 per Unit in a non-middleman private placement (the”Private placement“) for an aggregate purchase price of $ 3,162,500. Each unit consists of one common share (a”Ordinary share“) of GSilver and one-half common share purchase warrant (each entire warrant, a”To guarantee“). Each warrant entitles its holder to purchase one common share at a price of $ 0.75 per common share at any time no later than November 30, 2023.

In addition, on November 30, 2021, in connection with the prepayment by GSilver of a promissory note of US $ 2.5 million (the “”To note“) issued to Endeavor in connection with GSilver’s acquisition of the El Cubo mine and mill complex (“El Cubo“) as announced by GSilver on November 16, 2021, Endeavor acquired 901,224 common shares (the”Settlement actions”) At a deemed price of $ 0.55 per Settlement Share. The Settlement Shares were issued by GSilver to settle Mexican value added tax (“VAT“) payable on the purchase price of El Cubo represented by the ticket (the”Settlement of grades“).

Prior to the completion of the private placement and settlement of the Notes, Endeavor held 21,331,058 Common Shares. These Common Shares represented approximately 10.37% of the issued and outstanding Common Shares prior to the completion of the Private Placement and settlement of the Notes.

Immediately after the completion of the private placement and settlement of the Notes, Endeavor held 27,982,282 common shares and 2,875,000 warrants. The common shares held by Endeavor following the completion of the private placement and settlement of the Notes represent approximately 12.63% of the issued and outstanding common shares. If exercised, the 2,875,000 warrants as well as the 27,982,282 ordinary shares held by Endeavor would represent approximately 13.75% of the issued and outstanding ordinary shares (after taking into account the exercise of these warrants. subscription, but not the exercise of any other warrants to purchase common shares or convertible securities issued by GSilver).

The acquisition by Endeavor of the securities of GSilver was made for long-term investment purposes and Endeavor will continue to monitor the business, prospects, financial condition and potential capital requirements of GSilver. Endeavor may from time to time increase or decrease its ownership, control or direction, direct or indirect, over the common shares or other securities of GSilver through market transactions, private agreements, dilution through third party subscriptions of cash or otherwise.

About Endeavor Silver – Endeavor Silver Corp. is a mid-level precious metals mining company that operates two underground high-grade silver and gold mines in Mexico. Endeavor is currently advancing the Terronera mining project towards a development decision, pending funding and final permits, and is exploring its portfolio of exploration and development projects in Mexico, Chile and the United States to facilitate its goal of becoming a leading silver producer. Our corporate social integrity philosophy creates value for all stakeholders.

SOURCE Endeavor Silver Corp.

Endeavor will file an alert report in connection with the transactions mentioned herein on SEDAR at www.sedar.com. A copy of the report can be obtained by contacting Galina Meleger at:

Contact details
Galina Meleger, Vice President, Investor Relations
Toll free: (877) 685-9775
Phone. : (604) 640-4804
Email: [email protected]
Website: www.edrsilver.com

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