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Endeavour Mining Corporation: Endeavour Mining Increases P&P Reserves and M&I Resources by 32% and 39%, respectively

Endeavour Mining Increases P&P Reserves and M&I Resources by 32% and 39%, respectivelyView News Release in PDF Format
> P&P Reserves up 32% to 5.9Moz; M&I Resources up 39% to 11.0Moz

- Ity acquisition added 1.6Moz of P&P reserves and 3.1Moz of M&I

- Successful exploration replenished 93% of M&I resource ounces depleted
in 2015

> Agbaou reserves and resources increased to
above 2014 pre-production levels; free-dig oxide mine life extended by an
additional year

Tabakoto exploration replenished 103% of M&I resource ounces depleted, despite
realizing only 40% of planned campaign

> 2016 exploration budget of $20 million to focus on reserve replacement and
mine life extensions, up from $18 million in 2015

George Town, February 29th, 2016
- Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce that, at
year-end 2015, the Company's Proven and Probable mineral reserves ("P&P
reserves") stood at 5.9Moz of gold (4.7Moz on an attributable basis) and
Measured and Indicated mineral resources ("M&I resources") amounted to
11.0Moz of gold (8.6Moz on an attributable basis), representing a 32% and 39%
increase, respectively, over the previous year on a 100% basis.

Neil Woodyer, CEO of Endeavour, stated: "We are very pleased with our 2015
exploration program as the success achieved through reserve replacement and
mine life extension at both Agbaou and Tabakoto is expected to generate
immediate value.

Furthermore, the value-accretive Ity mine acquisition has added 1.6Moz of
reserves and 3.1Moz of M&I resources, at an implied price of $9 per
attributable M&I resource ounce which compares very favorably to our average
discovery cost.

In light of our expected capacity to increase exploration expenditure in
coming years, in accordance with our anticipated significant increase in cash
flow generation, in 2016 we plan to conduct a strategic review of our
portfolio to establish our long-term exploration strategy and to prioritize

Table 1: YoY Reserve and Resource Variation[1]

| On a 100% basis, As at December 31, As at December 31, Variation |
|in '000 ounces |
| 2014 2015 |
| P&P Reserves 4,505 5,925 +1,420 +32% |
| M&I Resources 7,901 10,973 +3,072 +39% |
| Inferred Resources 2,463 2,443 (20) (1%) |

As shown in Table 2, a total of 494koz were depleted during 2015, with 61% and
93%, respectively, of depleted P&P reserves and M&I resources being
replenished. Exploration additions (excluding the Ity mine acquisition)
amounted to 460koz of M&I resources, which includes the negative impact of
reducing the gold price estimate from US$1,600/oz to US$1,500/oz for the
Agbaou, Nzema and Youga mines. A total of 302koz were added to reserves
(exclusive of depletion), as a result of the resource conversion at the
Agbaou and Tabakoto mines.

Table 2: P&P Reserves and M&I Resources replenished in 2015

| On a 100% basis, 2015 P&P Reserve Depletion/Replacement M&I Resource Depletion/Replacement |
|in '000 ounces |
| Ore Depletion1 |
| Ounces % of depletion Ounces % of depletion |
| |
| added/removed replenished added2 replenished |
| 2 |
| Tabakoto 162 +80 49% +167 103% |
| Nzema3 73 (67) (91%) (27) (37%) |
| Youga 75 +3 4% +64 86% |
| Agbaou 184 +285 155% +256 139% |
| Sub-total 494 +302 61% +460 93% |
| Ity4 7 +1,620 +3,113 |
| Total 501 +1,921 +3,573 |

Depletion on a processed ore contained ounce basis
Includes exploration ounces delineated and changes due to gold price and
cut-off grade. Excludes ore depleted.
Nzema ore depletion is based on EDV ore and excludes purchased ore
Ity is included for the post-acquisition period of November 28 to December 31,

Agbaou Mine

At Agbaou, the $5.8 million exploration program successfully delineated 256koz
of M&I resources, mainly comprised of soft oxide ore from the West pit
extension. Total mineral reserves increased by 11% over the previous year,
from 926koz to 1,027koz, despite the depletion of 184koz following the record
production achieved in 2015. M&I resources increased by 6% over the previous
year, from 1,109koz to 1,181koz, with nearly 90% converted to reserves.

The current reserve is now 13% greater than the 2014 pre-production reserve of
0.9Moz.[2]The exploration program fully replaced the soft material mined
during 2015 and added an additional year of free-dig oxide mine life, which
should allow the mine to maintain its current production level over the next
few years.

In 2016, exploration is expected to focus on the North pit and South pit
extensions, the Agbaou South target, and to generate targets beyond the
current resource boundaries.

Tabakoto Mine

At Tabakoto, the $7.8 million exploration program focused primarily on the
underground drilling of mineralized zones below development in the Tabakoto
and Segala mines. Despite realizing only 40% of the planned underground
exploration campaign due to the lack of drilling access and flooding,
exploration successfully replenished 103% of the M&I resources depleted,
however only 49% of reserves were replenished due to the delays encountered.
Surface exploration delineated an open pit M&I resource of 0.9Mt at 3.45g/t
Au containing 105koz at the Tabakoto Northwest deposit.

In 2016, the focus will be directed towards delineating additional underground
resources and resource-to-reserve conversion. Furthermore, exploration is
expected to test the potential extension of the Kofi B deposit and to
generate new open pit targets on the Kofi trend, which lies immediately north
of Randgold's Loulo property.

Ity Mine

Following the acquisition of the Ity mine in November 2015, the short-term
exploration objective was to add heap-leachable resources and subsequently
convert them into reserve. Subsequently, the heap leach reserve now stands at
191koz, up 10% compared to the amount communicated in September 2015.
Furthermore, several targets have been identified and are currently being
drilled, which should allow the mine to continue to extend its heap leach
mine life.

New targets are expected to be drilled on the Ity property in 2016, aimed at
delineating additional resources for the CIL project. Furthermore, Endeavour
has strategically applied for adjacent exploration tenements in light of the
exploration success achieved at Ity over the recent years, which allowed its
M&I resources to increase from 0.2Moz[3]to 3.1Moz between 2012 and 2015.

Nzema Mine

Since the mine life of the Adamus pit extends to 2019 based on reserves, no
significant exploration capital was allocated in 2015. Consequently, the
reserve and resource variances are due to mining depletion and a lower gold
price used for the resource estimate.

Youga Mine

Youga reserve and resource variances are mainly due to mining depletion as no
significant exploration capital was allocated in 2015. The resource depletion
was partially offset by changes in technical parameters used to estimate the
resources (increased pit-shell due to lower mining cost estimates which more
than compensated for the lower gold price used).

Houndé Project

The reserve and resource estimates for Houndé remain unchanged.

Contact InformationVincent Benoit

EVP - Strategy&Business Development
+33 (0)1 70 38 36 96

Martino De Ciccio

VP - Strategy&Investor Relations
+33 (0)1 70 38 36 95

Brunswick Group LLP

Carole Cable, Partner
+44 7974 982 458

Qualified PersonsAdriaan "Attie" Roux
, Pr.Sci.Nat, Endeavour's Chief Operating Officer, is a Qualified Person under
NI 43-101, and has reviewed and approved the technical information related to
mining operations in this news release.Michael Alyoshin
, MAusIMM CP Min, Endeavour's Chief mining engineer, is a Qualified Person
under NI 43-101, and has reviewed and approved the information ore depletion
information related to mining operations in this news release.Gérard De Hert,
EurGeol, Vice President Exploration is the Qualified Person overseeing
Endeavour's exploration projects in West Africa and has reviewed and approved
the exploration and resource information in this news release.

The Qualified Persons for the mineral resources and mineral reserves are
listed as footnotes to the tables provided in the Appendix to this new

About Endeavour Mining CorporationEndeavour Mining is a TSX-listed intermediate gold mining company which
operates 5 West African mines in Côte d'Ivoire, Mali, Burkina Faso and Ghana.
In 2016, it expects to produce between 575,000 and 600,000 ounces at an
all-in sustaining cost of US$875 to US$925 per ounce. Endeavour Mining is
focused on effectively managing its existing assets to maximize cash flow as
well as pursuing organic and strategic growth opportunities that benefit from
its management and operational expertise.

Endeavour Mining | Executive Office | Bureau 76, 7 Boulevard des Moulins, Monaco 98000This news release contains "forward-looking statements" including but not
limited to, statements with respect to Endeavour's plans and operating
performance, the estimation of mineral reserves and resources, the timing and
amount of estimated future production, costs of future production, future
capital expenditures, and the success of exploration activities. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as "expects", "expected", "budgeted",
"forecasts" and "anticipates". Forward-looking statements, while based on
management's best estimates and assumptions, are subject to risks and
uncertainties that may cause actual results to be materially different from
those expressed or implied by such forward-looking statements, including but
not limited to: risks related to the successful integration of acquisitions;
risks related to international operations; risks related to general economic
conditions and credit availability, actual results of current exploration
activities, unanticipated reclamation expenses; changes in project parameters
as plans continue to be refined; fluctuations in prices of metals including
gold; fluctuations in foreign currency exchange rates, increases in market
prices of mining consumables, possible variations in ore reserves, grade or
recovery rates; failure of plant, equipment or processes to operate as

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