Endeavour Silver Reports First Quarter, 2017 Financial Results; Conference Call at 9am PDT (12pm EDT) Today

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http://www.edrsilver.com/news/index.php?content_id=592

Vancouver, Canada – May 3, 2017 – Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) released today its financial results for the period ended March 31, 2017. Endeavour owns and operates three underground silver-gold mines in Mexico: the Guanaceví mine in Durango state, and the Bolañitos and El Cubo mines in Guanajuato state.

The Company’s financial performance in the First Quarter, 2017 improved compared to the First Quarter, 2016. Revenue and cost of sales were down due to lower production but earnings were up as a result of higher precious metal prices, foreign exchange gains and tax recoveries.

Highlights of First Quarter 2017 (Compared to First Quarter 2016)

Financial

  • Net earnings increased 230% to $6.0 million ($0.05 per share) compared to $1.8 million ($0.02 per share)
  • EBITDA(1) increased 4% to $9.0 million
  • Cash flow from operations before working capital changes increased 19% to $8.9 million
  • Mine operating cash flow before taxes(1) increased 4% to $12.0 million
  • Revenue decreased 12% to $36.4 million
  • Realized silver price increased 17% to $17.79 per ounce (oz) sold (2% above average spot price)
  • Realized gold price increased 5% to $1,280 per oz sold (5% above average spot price)
  • Cash costs(1) rose 2% to $7.81 per oz silver payable (net of gold credits)
  • All-in sustaining costs(1) rose 64% to $18.24 per oz silver payable (net of gold credits)
  • Cash and cash equivalents dipped 2.5% to $70.5 million
  • Working capital was flat at $81.7 million compared to $81.6 million at year end

Operations

  • Silver production decreased 29% to 1,076,974 oz
  • Gold production decreased 27% to 11,724 oz
  • Silver equivalent production was 1.9 million oz (at a 70:1 silver: gold ratio)
  • Silver oz sold down 18% to 1,235,594 oz
  • Gold oz sold down 26% to 11,290 oz
  • Bullion inventory at quarter-end included 116,108 oz silver and 292 oz gold
  • Concentrate inventory at quarter-end included 32,995 oz silver and 764 oz gold
  • Appointed new VP Operations Tomas Iturriaga
  • Announced high grade drill results for Terronera and La Luz veins on Terronera project
  • Announced a robust Preliminary Economic Assessment on the El Compas project and made a decision to develop the mine to production
  • Announced a robust Pre-Feasibility Study on the Terronera project and continuing work to facilitate a decision to develop the mine to production

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