Endeavour advises it is over 20% in cash and debt-free



    Toronto Stock Exchange: EDV

    GEORGE TOWN, Grand Cayman, Aug. 17 /CNW/ - Endeavour Mining Capital Corp.
("Endeavour" or "Corporation") advised today that it does not have any debt or
borrowings and has not made use of broker margin or other forms of leverage in
making its investments. The Corporation's cash balances are generally held as
cash on deposit with a broad range of financial institutions or as investments
in highly liquid sovereign treasury notes. The Corporation has not invested in
the asset-backed commercial paper market.
    Commenting, Frank Holmes, Chairman stated "In response to equity market
volatility arising from uncertainty in the credit markets and several investor
queries, we felt it appropriate to explain to the market that Endeavour does
not have any debt on its balance sheet and our cash balances are liquid and
secure. In fact, Endeavour is currently over 20% in cash and times of
challenging equity market conditions can create great opportunities for those
with liquidity. Difficult capital market conditions can also increase the need
for the financial advisory services offered by our recently acquired Endeavour
Financial unit.
    Endeavour has approval from the TSX in accordance with a normal course
issuer bid to acquire its shares in the market. Endeavour maintains a
discipline of buying back stock in the market when there has been a dramatic
decrease in the EDV share price. The recent volatile markets provided an
opportunity for EDV to buy back its shares at less than 3 times trailing 12
month earnings. During the current week Endeavour bought back a total of
25,000 shares.
    Endeavour Mining Capital Corp. is a publicly-traded merchant banking
company offering integrated capital investment and financial advisory services
to the global natural resources sector. The Corporation offers a unique
combination of financial and intellectual capital to help build companies and
create shareholder value. Our shares are listed on the Toronto Stock Exchange
under the symbol EDV and offer a distinctly different way to invest in the
natural resources sector.
    For additional information, please visit our corporate website,
www.endeavourminingcapital.com.
    On behalf of Endeavour Mining Capital Corp.

    "Bill Koutsouras"

    Chief Financial Officer, Director & Secretary

    The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The foregoing
information may contain forward-looking statements relating to the future
performance of Endeavour Mining Capital Corp. Forward-looking statements,
specifically those concerning future performance, are subject to certain risks
and uncertainties, and actual results may differ materially. These risks and
uncertainties are detailed from time to time in the Corporation's filings with
the appropriate securities commissions.





For further information:

For further information: Phone: Vanguard Shareholder Solutions,
1-866-801-0779 or (604) 608-0824, email: investor@endeavourminingcapital.com

Organization Profile

ENDEAVOUR FINANCIAL CORPORATION

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