Endeavour Silver Corp. announce the successful completion of its acquisition of the Pitarrilla Project (“Pitarrilla”) from SSR Mining Inc. Pitarrilla, one of the largest undeveloped silver deposits in the world1, is located 160 kilometres north of Durango City, in northern Mexico. Pitarrilla comprises 4,950 hectares across five concessions and has significant infrastructure in place with direct access to utilities.

Endeavour purchased Pitarrilla by acquiring all the issued and outstanding shares of SSR Durango, S.A. de C.V. from SSR Mining and Silver Standard Ventures Inc. for total consideration of approximately $70 million, comprising $34,909,936.60 in Endeavour common shares and a further $35,066,829.58 in cash, and a 1.25% net smelter returns royalty on Pitarrilla. As a result, 8,577,380 Endeavour common shares were issued based on a deemed price of $4.0700 per share. The shares are subject to a hold period of four months and one day following the date of closing.

Following the closing of this transaction, SSR Mining owns 4.52% of the issued and outstanding common shares of Endeavour. Endeavour will have matching rights to purchase the NSR Royalty in the event SSR Mining proposes to sell it. Management plans to invest $1.8 million for drilling and exploration activities to verify the historical data and define a current resource in 2022.