Abidjan - Endeavour Mining (TSX: EDV) (OTCQX: EDVMF) is pleased to announce that it has increased its stake in the Fetekro Project in Cote d'Ivoire, ahead of a Pre-Feasibility Study ('PFS') which is due to be published in Q1-2021.

Under the terms of the agreement, once the mining permit is granted, Endeavour will be entitled to an 80% stake in the Fetekro Project, compared to 65% currently, while SODEMI (the state-owned mining company) and the Government of Cote d'Ivoire will each have a 10% stake. Endeavour will retain the full ownership of the Fetekro exploration license until such time as it is converted into a mining license.

Sebastien de Montessus, President and CEO, commented: 'We are delighted to have concluded this agreement with our long-standing government partners, in a manner which allows all stakeholders to benefit from the value we expect to continue to unlock at Fetekro.

We believe that we have the opportunity to develop Fetekro into a cornerstone asset for Endeavour, which we define as assets with the potential to produce more than 200,000 ounces per annum over 10 years at low AISC. Fetekro has significant exploration potential, an already defined large-scale deposit with straightforward metallurgy and high gold recovery. It also benefits from being located close to existing infrastructure and requires only minimal relocation. We are eager to complete the PFS, which is expected to build on the PEA we recently published based on only half of the current resource, to demonstrate further the robust economics of the project.'

Endeavour acquired the additional stake from SODEMI for a consideration of $19 million plus contingent payments of $3 per ounce for future Proven and Probable reserves defined outside of the existing Measured and Indicated resource boundary. The contingent payment is based on a gold price of $1,450 per ounce and will be adjusted upwards or downwards in a linear relationship with the gold price.

ABOUT THE FETEKRO PROJECT

Located in north-central Cote d'Ivoire, within the northern end of the Oume-Fetekro Greenstone Belt, the Fetekro Project is approximately 500km from Abidjan and close to existing infrastructure, including sealed roads and grid power.

Endeavour began exploration at Fetekro in March 2017, with the Lafigue deposit as the primary target. A maiden resource for Lafigue was published on October 29, 2018 and was updated on September 3, 2019 and again on August 18, 2020.

Mineral Reserve Estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum ('CIM') definitions standards for mineral resources and reserves and have been completed in accordance with the Standards of Disclosure for Mineral Projects as defined by National Instrument 43-101. Minor variations may occur during the addition of rounded numbers. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Resources were constrained by MII Pit Shell and based on a cut-off of 0.5 g/t Au.

Contact:

Martino De Ciccio

Tel: +44 203 640 8665

Email: mdeciccio@endeavourmining.com

ABOUT ENDEAVOUR MINING CORPORATION

Endeavour Mining is a multi-asset gold producer focused on West Africa, with two mines (Ity and Agbaou) in Cote d'Ivoire, four mines (Hounde, Mana, Karma and Boungou) in Burkina Faso, four potential development projects (Fetekro, Kalana, Bantou and Nabanga) and a strong portfolio of exploration assets on the highly prospective Birimian Greenstone Belt across Burkina Faso, Cote d'Ivoire, Mali and Guinea.

As a leading gold producer, Endeavour Mining is committed to principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the Toronto Stock Exchange, under the symbol EDV.

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