Endeavour Silver Corp. (NYSE:EXK) Q4 2024 Earnings Conference Call March 11, 2025 1:00 PM ET Company Participants Allison Pettit - Director, IR Dan Dickson - CEO Conference Call Participants Nick Giles - B. Riley Securities Wayne Lam - TD Securities Heiko Ihle - H.C. Wainwright Craig Stanley - Raymond James Operator Thank you for standing by. This is the conference operator. Welcome to the Endeavour Silver 2024 Year End Conference Call. As a reminder, all participants are in a listen-only mode. And the conf ...

EXHIBIT 99.1 Endeavour Silver Announces Q4 2024 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today VANCOUVER, British Columbia, March 11, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three months and the year ended December 31, 2024. All dollar amounts are in US dollars (US$). "The Company achieved strong financial results in 2024, maintaining a solid balance sheet," said CEO Dan Dickson. ...

Core Viewpoint - Endeavour Silver Corp. reported strong financial results for 2024, driven by higher realized prices and robust revenue, positioning the company for sustained growth and value creation as key projects progress towards completion [2][5]. Financial Performance - Revenue for Q4 2024 was $42.2 million, a decrease of 16% from Q4 2023, while full-year revenue reached $217.6 million, up 6% from 2023 [6][19]. - The company recognized a net loss of $31.5 million for the year, compared to net earnings of $6.1 million in 2023, with adjusted net earnings of $8.0 million, or $0.03 per share [5][22]. - Mine operating cash flow before taxes was $72.3 million for the year, an increase from $64.4 million in 2023 [5][19]. Production Metrics - Silver production in Q4 2024 was 824,529 ounces, down 41% from Q4 2023, with total silver production for the year at 4,471,824 ounces, a decrease of 21% [4][19]. - Gold production for Q4 2024 was 9,075 ounces, a slight decrease of 6% from the previous year, while total gold production for the year increased by 3% to 39,047 ounces [4][19]. Cost Analysis - Cash costs per silver ounce increased by 9% to $13.68 in Q4 2024, while total production costs per ounce rose by 19% to $21.00 [4][10]. - All-in sustaining costs (AISC) per ounce increased by 27% to $27.33 in Q4 2024, reflecting lower silver production [10][18]. Project Developments - The Terronera project is nearing completion, with 89.4% of the project budget spent as of December 31, 2024, and wet commissioning expected in early Q2 2025 [5][19]. - The Pitarrilla project is advancing with ongoing exploration and evaluation efforts, aiming for an economic assessment by Q1 2026 [5][19].

Core Insights - Endeavour Silver (NYSE: EXK) has shown strong performance over the past year, rewarding investors despite stock price volatility [1] Group 1: Company Overview - Endeavour Silver is the largest single holding for the author, indicating significant confidence in the company's prospects [1] - The company has experienced a major hit during the past year, suggesting challenges that may have impacted its operations or market perception [1] Group 2: Analyst Background - The analyst has extensive experience in trading options and stocks since 1980, with a background in oil projects and construction, which may provide valuable insights into investment strategies [1] - The analyst's qualifications include a chartered status in the UK and a Master's Degree in Project Management, indicating a strong foundation in project planning and risk analysis [1]

Core Viewpoint - Endeavour Silver Corp. has announced its consolidated production and cost guidance for 2025, focusing on its Guanaceví and Bolañitos mines, while the Terronera project guidance will be provided separately once commissioning is complete [1][4]. Production and Cost Guidance - In 2025, silver production is expected to range from 4.5 to 5.2 million ounces and gold production is anticipated to be between 30,500 ounces and 34,000 ounces, resulting in total silver equivalent production of 7.0 to 7.9 million ounces [2][5]. - Consolidated cash costs for Guanaceví and Bolañitos are estimated at $16.00-$17.00 per ounce of silver, while all-in sustaining costs (AISC) are projected to be $25.00-$26.00 per ounce of silver [3][9]. Operating Mines Overview - At Guanaceví, plant throughput is estimated to be between 1,000 to 1,100 tonnes per day, with silver production expected to be 3.9 to 4.4 million ounces [5][6]. - At Bolañitos, plant throughput is expected to range from 1,100 to 1,200 tonnes per day, with silver production projected at 0.6 to 0.8 million ounces [5][7]. Capital Expenditures - The company plans to invest a total of $45.3 million in capital expenditures for 2025, with $33.6 million allocated for sustaining capital and $11.7 million for growth capital [11][12]. - Specific investments include $19.3 million at Guanaceví and $14.3 million at Bolañitos for mine development and infrastructure improvements [13][14]. Exploration Plans - Endeavour plans to conduct drilling activities totaling 20,500 meters across various projects, with a total expenditure of $6.5 million for exploration in 2025 [17]. Strategic Focus - The company aims to advance the commissioning of the Terronera project and integrate it into its production profile, with additional growth potential from the Pitarrilla project [4][15].

Core Viewpoint - Endeavour Silver Corporation experienced significant declines in silver and gold production in the fourth quarter of 2024, primarily due to reduced operating capacity at the Guanaceví mine, impacting overall performance and sales figures [1][2][4]. Production Performance - The company produced 1.6 million silver-equivalent ounces in Q4 2024, a 29% decline year-over-year [1]. - Consolidated silver production fell 41% year-over-year to 824,529 ounces, attributed to decreased operating capacity at Guanaceví following a trunnion breakdown [2]. - Gold production decreased by 6% year-over-year to 9,075 ounces, with Guanaceví's output down 29.5% to 2,622 ounces, while Bolañitos saw a 9.6% increase to 6,453 ounces [3]. Yearly Overview - For the full year 2024, Endeavour Silver produced 7.6 million silver-equivalent ounces, a 13% decline from 2023 [4]. - Total silver production for 2024 was 4,471,824 ounces, down 21% year-over-year, while gold production increased by 3% to 39,047 ounces [4]. Sales Performance - In Q4 2024, silver sales dropped 51% year-over-year to 654,519 ounces, while gold sales rose 11% to 8,343 ounces [5]. - At year-end, the company held 276,477 ounces of silver and 1,220 ounces of gold in bullion inventory, along with 4,216 ounces of silver and 296 ounces of gold in concentrate inventory [5]. Project Updates - The Terronera project faced delays due to late delivery of critical structural steel components, impacting productivity and commissioning, with wet commissioning now expected in early Q2 2025 [6]. Stock Performance - Endeavour Silver's stock price increased by 88.8% over the past year, outperforming the industry average growth of 39.2% [7].

Core Points - Endeavour Silver Corp. provided an update on the progress of its Terronera project, highlighting delays in the delivery of critical structural steel components which have impacted project productivity and commissioning timelines [1][4] - The company reduced its site workforce during the holiday season as a cost-saving measure due to the delays, with wet commissioning now expected in early Q2 2025 [1][4] - Following the lifting of transport restrictions in Mexico, critical steel deliveries and installations have resumed, and the operational readiness team is continuing dry commissioning of the upper platform [2] Project Progress - The tailings dam is ready for use, and above-ground ore stockpiles are nearing capacity, while mine personnel are preparing multiple levels for stope and advancing mine development [2] - The commissioning of the grinding circuit has commenced, with successful testing of SAG and ball mills at full operating speed [2] Future Updates - Management plans to provide a Q4 construction update later this month, which will include a photo gallery and updated site overhead costs for Q1 2025 [3]

Core Points - Endeavour Silver Corp. successfully fabricated and installed its primary ball mill trunnion at the Guanaceví mine, restoring operations to full capacity [1][2] - The Guanaceví processing plant resumed full capacity of 1,200 tonnes per day after a 15-week period of reduced capacity averaging 620 tonnes per day due to a trunnion failure [2] - The total cost for the fabrication and installation of the trunnion was just over US$400,000 [2] - The CEO of Endeavour Silver expressed satisfaction with the return to full capacity and highlighted the team's dedication and ingenuity in minimizing financial and social impacts during the operational challenges [3] Company Overview - Endeavour Silver is a mid-tier precious metals company committed to sustainable and responsible mining practices [3] - The company operates in Mexico and is developing a new cornerstone mine in Jalisco state, aiming to positively contribute to the mining industry and local communities [3] - Endeavour also has a portfolio of exploration projects in Mexico, Chile, and the United States, with the goal of becoming a premier senior silver producer [3]

Group 1 - Endeavour Silver Corp. completed a prospectus offering for 15,825,000 common shares at a price of US$4.60 per share, raising aggregate gross proceeds of US$72,795,000 [1] - The offering was led by BMO Capital Markets along with a syndicate of underwriters including CIBC World Markets Inc., TD Securities Inc., Ventum Financial Corp., and H.C. Wainwright & Co., LLC [1] - The net proceeds from the offering will be used for advancing the Pitarrilla project in Durango State, Mexico, and for general working capital [2] Group 2 - Endeavour Silver Corp. is a mid-tier precious metals company focused on sustainable and responsible mining practices [3] - The company operates in Mexico and is developing a new cornerstone mine in Jalisco State, aiming to positively impact the mining industry and local communities [3] - Endeavour has a portfolio of exploration projects in Mexico, Chile, and the United States, positioning itself as a premier senior silver producer [3]

Core Viewpoint - Endeavour Silver Corp. has entered into a bought-deal agreement to raise approximately $73 million for its Pitarrilla project in Mexico by offering 15,825,000 common shares at $4.60 per share [1] Group 1: Financing and Project Development - The offering is expected to close around November 27, 2024, pending regulatory approvals, with underwriters having a 30-day option to purchase an additional 10% of shares [2] - The Pitarrilla project is a large undeveloped silver, lead, and zinc project covering 4,950 hectares, located 160 kilometers north of Durango City, Mexico, with significant infrastructure and necessary permits for underground mining [3] - Since acquiring the project in July 2022, Endeavour Silver has re-logged historic drill core and refurbished an underground ramp, extending it over 1.3 kilometers to test high-grade feeder structures [4] Group 2: Exploration and Geological Insights - Endeavour Silver has confirmed the presence of at least four high-grade feeder structures during the ramp development, including the Palmito, Danna, Victoria, and Casas Blancas veins, and identified additional mineralized structures [6] - The company has drilled nine diamond drill holes since August 2024, successfully encountering the target deposit and confirming the viability of underground bulk tonnage mining [7] Group 3: Financial Performance - In Q3 2024, Endeavour Silver produced 1.6 million silver equivalent ounces, a 14% decline year-over-year, with consolidated silver production falling 24% to 874,717 ounces, although gold production improved by 2% to 9,290 ounces [8] - The company reported adjusted earnings per share of 1 cent, surpassing the Zacks Consensus Estimate of breakeven earnings, and the top line grew 8.2% year-over-year to $53 million, though it missed the consensus estimate of $55 million [9] Group 4: Market Performance - Endeavour Silver shares have gained 100% over the past year, significantly outperforming the industry's growth of 38.8% [10]