Endeavour Mining initiates mining at Agbaou and completes power line installation

 

VANCOUVER, Oct. 15, 2013 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces that mining has begun at its Agbaou Gold Mine in Côte d'Ivoire. Construction continues on-plan for initial production in Q1 2014, with recent progress in power line installation, process plant infrastructure and recruitment.

Agbaou Gold Mine Construction Highlights:

  • The project is more than 90% physically complete and remains on budget
  • Power line tower construction and stringing of the 15 km 91KV line is complete. The high voltage transformer has been installed at Agbaou substation
  • Delivery of mining equipment has been ongoing, including two D9 dozers, seven of the 777 haul truck fleet, and both Liebherr 9350 excavators. Mining of the South Pit began earlier this week
  • ROM starter pad and Mine Services Area construction is complete
  • Process plant construction is 94% complete
  • Major reagents have arrived on-site. In addition, commissioning, operational and insurance spares are on-site.
  • Recruitment of staff and contract workers is progressing well and includes a focused effort towards hiring from local communities. All management positions have been secured
  • Recent community projects include construction of a local primary school and teachers' quarters (completed in August) and rehabilitation of the maternity health center and midwife housing.

About Endeavour Mining Corporation
Endeavour is a gold producer delivering growth.  Endeavour owns three gold mines producing more than 300,000 ounces per year in Mali, Ghana and Burkina FasoEndeavour's annual gold production is forecast to exceed 400,000 ounces per year during 2014, including the start-up of production at the Agbaou Gold Mine in Cote d'Ivoire scheduled for Q1 2014.  In addition, a January 2013 PEA shows potential for approximately 150,000 ounces per year from the Houndé Project in Burkina Faso, which is being assessed by a feasibility study during 2013.

Endeavour Mining Corporation is listed on the TSX (symbol EDV) and ASX (symbol EVR), and also trades on the OTCQX (symbol EDVMF).

On behalf of Endeavour Mining Corporation

Neil Woodyer
Chief Executive Officer

This 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 www.sedar.com for further information respecting the risks affecting Endeavour and its business.

Image with caption: "Clearing for Agbaou Process Plant, September 2012 (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32061.jpg

Image with caption: "Agbaou Gold Mine process plant aerial, October 2013 (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32062.jpg

Image with caption: "91KV transformer being lifted into place (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32063.jpg

Image with caption: "Process plant 91KV substation (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32064.jpg

Image with caption: "Crushing vault and conveyor (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32065.jpg

Image with caption: "Mining commences on South Pit (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32066.jpg

Image with caption: "CAT 777s on South Pit haul road (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32067.jpg

Image with caption: "New Agbaou Primary School (CNW Group/Endeavour Mining Corporation)". Image available at: http://photos.newswire.ca/images/download/20131015_C4015_PHOTO_EN_32068.jpg

SOURCE: Endeavour Mining Corporation

For further information:

Marla Gale
Vice President - Investor Relations

+1 604 609 6117
mgale@endeavourmining.com

UK/Europe: Bobby Morse Buchanan

+44 20 7466 5000
bobbym@buchanan.uk.com


Endeavour Mining Corporation
Regatta Office Park
Windward 3, Suite 240, PO Box 1793
West Bay Road, Grand Cayman
KY1-1109, Cayman Islands

Tel: +1 345 769 7250
Fax: +1 345 769 7256

www.endeavourmining.com

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Endeavour Mining Corporation

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