Day: May 30, 2016

Fred Davidson, President and CEO, stated, “Despite lower average silver prices in Q1 2016 compared to Q1 2015, the Company managed to increase production by 9% and reduce its operating expenses by 6% or $0.2 million over the same period last year. The Company’s strategy of focusing on higher grade mineral on both the exploration and production fronts is proving effective. Our production performance during the first quarter 2016 continues to demonstrate IMPACT Silver’s success and viability as a proven explorer and producer. In combination with stringent cost controls and improving grades, we achieved positive operational cash flow and positive EBITDA of $0.2 million this quarter. Despite lower silver prices persisting in 2016, our focus on profitability and higher grade zones of silver at San Ramon continues to keep IMPACT as a self-sufficient and enviable producer in the Mexican silver space.”

Endeavour Silver Corp. is pleased to announce completion of the acquisition of Oro Silver Resources Ltd., a wholly-owned subsidiary of Canarc, which holds the El Compas gold-silver mine property and a five-year renewable lease on the 500 tonne per day La Plata ore processing plant in Zacatecas, Mexico. Details of the acquisition were previously announced by news release dated May 9, 2016.