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Endeavour Mining Corporation: Endeavour Mining receives US$25.3 million from the sale of its Youga Mine

Endeavour Mining receives US$25.3 million
from the sale of its Youga Mine
View News Release in PDF Format
George Town, February 29th, 2016
- Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce that it has
received US$25.3 million upon simultaneously signing and closing the sale
transaction of its non-core Youga Mine to MNG Gold ("MNG").

The total cash consideration is comprised of US$20 million for the asset and
US$5.3 million for the cash-on-hand. In addition, Endeavour has retained a
1.8% Net Smelter Royalty ("NSR") on production realized beyond the current
reserve from the property sold, and with the inclusion of a buyback

Neil Woodyer, CEO of Endeavour, stated: "This transaction provides upfront
value for Youga's remaining 2 year mine life and gives us greater financial
flexibility to pursue growth opportunities. It is in line with our strategic
objective of actively managing our portfolio to improve its overall quality.

Since MNG's nearby Balogo high-grade deposit will give a second life to the
Youga operation, we firmly believe that this transaction is in the best
interest of all stakeholders, including our employees, the government, and
the local population."

About the Youga Mine

The Youga Gold Mine is located approximately 180 km southeast of Ouagadougou.
Endeavour holds a 90% interest in Burkina Mining Company ("BMC") which has
been granted the rights to exploit the Youga Gold Deposit. The remaining 10%
of BMC is held by the Government of Burkina Faso.

Youga is an open pit mining operation with a 1mtpa gravity/CIL processing
facility. It has recovered a total of over 0.6 million ounces of gold since
operations commenced in 2008. Youga employs approximately 665 workers in
total, including full time Endeavour employees and contractors.

As at December 31, 2015, Measured and Indicated mineral resources (inclusive
of reserves) were 17.8 million tonnes at 1.4 g/t gold containing 0.8 million
ounces and the Proven and Probable mineral reserves were 2.5 million tonnes
at 1.6 g/t gold containing 0.1 million ounces[1].

In 2015, Youga produced 68,407 ounces of gold. Production in 2016 is forecast
to be 40,000 to 45,000 ounces at a mine-level AISC cost of $980 to $1,030 per

About MNG Gold

MNG Gold is a privately owned Turkish gold exploration and development company
focused on West Africa and Turkey. MNG Gold own the high grade gold Balogo
project, located in proximity to the Youga mill, in Burkina Faso and the
Kokoya gold project in Liberia. MNG Gold has a broad capacity to explore,
develop and produce gold in Turkey and abroad. The Company is owned and
financed by Mr Mehmet Nazif Günal, a Turkish entrepreneur.

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

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
anticipated; accidents, labour disputes, title disputes, claims and
limitations on insurance coverage and other risks of the mining industry;
delays in the completion of development or construction activities, changes
in national and local government regulation of mining operations, tax rules
and regulations, and political and economic developments in countries in
which Endeavour operates. Although Endeavour has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Please refer to Endeavour's most recent Annual
Information Form filed under its profile at for further
information respecting the risks affecting Endeavour and its business
---------------------------------------[1]As announced by Endeavour in its Feb 29th, 2016, press release entitled
"Endeavour Mining Increases P&P Reserves and M&I Resources by 32% and 39%,
respectively" available on the Company's website.

View News Release in PDF Format


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Endeavour Mining Corporation via Globenewswire


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