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Endeavour Silver Grants Option to Purchase Guadalupe y Calvo Project in Chihuahua, Mexico to Ridgestone Mining
VANCOUVER, British Columbia, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) has granted an option to purchase a 100% interest in
About this update from Endeavour Silver Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) has granted an option to purchase a 100% interest in its Guadalupe y Calvo gold-silver exploration project in Chihuahua, Mexico to Ridgestone Mining Inc. Under the terms of the option agreement, Ridgestone has the right to acquire a 100% interest in the project through payments over a four-year period of US$1.5 million in cash and US$1.75 million in shares based on the 20 day volume weighted average price of the shares preceding each issuance, plus US$0.75 million in exploration expenditures, for a total commitment of US$4 million. Ridgestone will grant a 2% net smelter return royalty (NSR) to Endeavour, with the option to buy back the 2% NSR for US$2 million prior to the commencement of commercial production. About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders. SOURCE Endeavour Silver Corp. Contact Information: Galina Meleger, Director, Investor RelationsToll free: (877) 685-9775Tel: (604) 640-4804Email: [email protected] Website: www.edrsilver.com Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn Cautionary Note Regarding Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the impact of suspension of mining operations, Endeavour’s anticipated performance in 2021, including production forecasts, cost estimates and metal price estimates, and the timing and results of mine expansion and development and receipt of various permits. The Company does not intend to and does not assume any obligation to update such forwa...