VANCOUVER, Jan. 15 /CNW/ - Endeavour Silver Corp. (EDR: TSX, EXK: AMEX,
and EJD: Frankfurt) announces that silver production from its two operating
silver mines in Mexico, Guanacevi and Bolanitos, hit a new all-time high of
636,866 oz in the 4th quarter, 2007. Silver production was up 10% over the 3rd
quarter and jumped 72% compared to the 369,295 oz produced in Q4, 2006.
The robust 4th quarter production increased Endeavour's output to
2.14 million oz silver in 2007, enabling the Company to beat its revised
production forecast of 2.0 million oz for the year by 7%. In 2007, silver
production rose 58% over the 1.35 million oz produced in 2006, thereby
continuing the Company's track record for aggressive production growth.
In addition, gold production amounted to 2100 oz in Q4, 2007, up 15% from
the 3rd quarter and up 387% compared to the 431 oz produced in Q4, 2006.
Endeavour's gold production climbed to 6427 oz in 2007, a 158% jump compared
to the 2493 oz gold produced in 2006. Expressed as silver equivalents (based
on a 55 silver : 1 gold ratio), Endeavour's combined silver and gold
production amounted to 752,366 silver equivalent oz in Q4, 2007 and 2,488,485
oz silver equivalent for the year using 55:1 for the Ag: Au ratio based upon
the current silver and gold values.
Endeavour plans to release a more detailed review of its 2007 mining
operations and its production forecast for 2008 by the end of January. An
exploration overview and outlook will also be provided in January and the
annual financial review and forecast is scheduled for mid-April.
Bradford Cooke, Chairman and CEO, commented, "We are thrilled with these
latest production results, especially given the operating challenges
management dealt with over the past year. Once our Guanacevi plant
improvements and Bolanitos mine development and exploration projects are
successfully completed, these two mines should be able to more than double
their production over the next two years as they approach their new operating
Endeavour Silver Corp. (EDR: TSX, EDR.WT: TSX, EXK: AMEX, EJD:
DBFrankfurt) is a small-cap silver mining company focused on the growth of its
silver production, reserves and resources in Mexico. The expansion programs
now underway at Endeavour's two operating mines, Guanacevi in Durango and
Bolanitos in Guanajuato, coupled with the Company's aggressive acquisition and
exploration programs in Mexico should enable Endeavour to join the ranks of
top primary silver producers worldwide.
ENDEAVOUR SILVER CORP.
/s/ "Bradford J. Cooke"
Bradford J. Cooke
Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its
operations constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995. All statements
that are not historical facts, including without limitation statements
regarding future estimates, plans, objectives, assumptions or expectations of
future performance, are "forward-looking statements". We caution you that such
"forward looking statements" involve known and unknown risks and uncertainties
that could cause actual results and future events to differ materially from
those anticipated in such statements. Such risks and uncertainties include
fluctuations in precious metal prices, unpredictable results of exploration
activities, uncertainties inherent in the estimation of mineral reserves and
resources, fluctuations in the costs of goods and services, problems
associated with exploration and mining operations, changes in legal, social or
political conditions in the jurisdictions where the Company operates, lack of
appropriate funding and other risk factors, as discussed in the Company's
filings with Canadian and American Securities regulatory agencies. Resource
and production goals and forecasts may be based on data insufficient to
support them. Godfrey Walton, M.Sc., P.Geo., President and COO is the
Qualified Person for the Company as required by NI 43-101. The Company
expressly disclaims any obligation to update any forward-looking statements.
We seek safe harbour.
For further information:
For further information: Hugh Clarke, Toll free: (877) 685-9775, tel:
(604) 685-9775, fax: (604) 685-9744, email: firstname.lastname@example.org,
or visit our website, www.edrsilver.com