Endeavour Silver Corp. · TSX:EDR
Endeavour Silver — Merger or Acquisition (April 2025)
22 slides from Endeavour Silver's merger presentation, Apr 1, 2025
Slide 1: Acquisition of Huachocolpa (Kolpa)
Acquisition of Huachocolpa (Kolpa) April 1, 2025 TSE: EDR | NYSE: EXK TSX: EDR | NYSE: EXK www.edrsilver.com
Slide 2: Cautionary Note
Cautionary Note Cautionary Note This presentation is dated April 1,2025. A preliminary prospectus supplement dated April 1,2025 (the “preliminary prospectus supplement”) containing important information relating to the securities described in this presentation has been filed with the securities regu
Slide 3: Cautionary Note
Cautionary Note Cautionary Note to U.S. Investors concerning Estimates of Mineral Reserves and Measured, Indicated and Inferred Mineral Resources This presentation has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of
Slide 4: Non-IFRS Financial Measures
Non-IFRS Financial Measures The Company has included certain performance measures that are not defined under International Financial Reporting Standards (IFRS). The Company believes that these measures, in addition to conventional measures prepared in accordance with IFRS, provide investors an impro
Slide 5: Kolpa Project Overview
Kolpa Project Overview (1) • Huachocolpa District, Huancavelica, Peru • 490 km SE of Lima Location • Avg elevation: 4,400 metres above sea level • 143 mining rights covering 25,177 ha of Land Package effective area and one beneficiation concession covering 366 ha • Silver polymetallic mineralization
Slide 6: Transaction Summary
Transaction Summary TRANSACTION • Endeavour has entered into an agreement to purchase the Kolpa mine in Huancavelica Province, Peru • Acquiring shares of Compañia Minera Kolpa from subsidiaries of Arias Resource Capital Management and Grupo Raffo LLC CONSIDERATION • Total consideration of $145 milli
Slide 7: Strategic Acquisition to Enhance Operating Footprint
Strategic Acquisition to Enhance Operating Footprint CONSISTENT WITH PLAN TO BECOME SENIOR SILVER PRODUCER • Fully funded operating silver asset, expected to increase Endeavour’s production profile by up to 5.1 Moz AgEq, assuming continued production at Kolpa is consistent with 2024 production • Str
Slide 8: Acquisition Rationale and Benefits
Acquisition Rationale and Benefits Strategic Rationale Other Considerations • Adds a third producing underground mine with significant exploration • Expanding footprint into a new country potential • Long operating history • Adds up to approximately 5.1 Moz AgEq to annual production profile, • Exist
Slide 9: Historical Production
Historical Production 2024 2023 5.1 Moz $22.80/oz 4.6 Moz $22.00/oz Silver Equivalent Production (1) (3) All-in Sustaining Costs (AISC) (2) Silver Equivalent Production (1) (3) All-in Sustaining Costs (AISC) (2) 2.0 Moz $9.8M 1.8 Moz $7.8M Sustaining Capital (2) Silver Production (3) Sustaining Capi
Slide 10: Kolpa Geology Overview
Kolpa Geology Overview Regional Geological Map • Huachocolpa mining district located on the eastern flank of Western Cordillera of the Andes (Ag-Pb-Zn-Cu) • 25+ years production, anticipated expansion to 2,500 tpd from 1,800 tpd • Consistent track record of growing resource base net of depletion • H
Slide 11: Kolpa Project Overview
Kolpa Project Overview OPERATIONS • In 2024, the plant processed approximately 686,500t, producing 2.0 Moz of silver, 19,820t of lead, 12,554t of zinc and 518t of copper (5.1 Moz AgEq) (1) • Doubling throughput from 800 tpd in 2016 to approximately 1,800 tpd at the end of 2024 • Mill performs some s
Slide 12: Kolpa Mining Concessions
Kolpa Mining Concessions Total:143 Rights ( 25,177 Ha) • Kolpa holds mining rights to 143 mining concessions and claims covering 25,177 ha, and one beneficiation concession covering 366 ha. 63 of those mining claims comprise the Administrative Economic Unit (UEA) Huachocolpa Uno • 23 mining concessi
Slide 13: District Structural Interpretation
District Structural Interpretation Significant Exploration Potential • Mineralization continues outside of established deposits in many areas, and remains open along strike and at depth providing the opportunity to significantly grow known deposits • Focus on numerous in-mine and near-mine targets •
Slide 14: District Cross-Section
District Cross-Section Fault • Recent high-grade tensional vein structures discovered parallel to main vein systems (e.g. Gladys Projected Veins. TSX: EDR | NYSE: EXK and Jessica) may indicate existence of “third corridor” parallel to Bienaventurada Recognized Veins Volcanic, pyroclastic, lavas, vol
Slide 15: Versamet Royalties Copper Stream
Versamet Royalties Copper Stream • Copper Stream – US$35M • Refined copper in concentrates produced by Kolpa for a 10-year term, subject to 10-year extensions in certain circumstances • Receive 10% of spot price of copper streamed until deposit is reduced to zero • Deliver refined copper warrants eq
Slide 16: Appendix
Appendix Endeavour Silver Suite 1130-609 Granville St. Vancouver, BC Canada V7Y 1G5 TF: 1 877 685 9775 TSX: P: 604 685 9775 TSX: info@edrsilver.com EDR EDR | NYSE: Allison Pettit | NYSE: Director, Investor Relations apettit@edrsilver.com EXK EXK 16
Slide 17: Non-IFRS Financial Measures
Non-IFRS Financial Measures Consolidated Production - Cash Costs, AISC and Direct Costs TSX: EDR | NYSE: EXK 1. Please see the Kolpa Technical Report for more information. 17
Slide 18: Non-IFRS Financial Measures
Non-IFRS Financial Measures Income Statement, Revenue & Cost Reconciliation (2) INCOME STATEMENT EXTRACTS Twelve Months Ended December 31, REVENUE BY METAL TYPE Twelve Months Ended December 31, Expressed in thousands US dollars 2024 2023 Expressed in thousands US dollars 2024 2023 Sales & Services 1
Slide 19: Historical Mine Production
Historical Mine Production (1) Mine Production Year Ag (opt) Cu (%) Pb (%) Zn (%) (Tonnes) 2012 325,143 2.60 0.38 4.27 3.7 2013 356,090 2.62 0.44 4.98 4.42 2014 393,415 2.14 0.43 3.79 3.99 2015 318,439 2.48 0.44 4.06 4.35 2016 283,962 3.83 0.42 4.22 3.97 2017 337,768 4.37 0.34 3.52 3.8 2018 353,035
Slide 20: Processing Plant Historical Performance
Processing Plant Historical Performance (1) 2025 Var. (%) Concept. 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 / 2024 (Budget) TMS - Ore Processing. 283,714 283,445 326,005 400,117 455,564 593,545 631,455 661,535 686,503 801,000 17% Head grade Ag (Oz/TM) 3.39 3.80 3.99 3.40 2.26 2.04 2.66 3.06
Slide 21: Kolpa Concentrate Overview Logistics
Kolpa Concentrate Overview Logistics • Three types of concentrate are produced by Kolpa: • Current contracts with main traders in the market • Zinc-silver concentrate • Transportation companies bring concentrates in trucks from mine to port, • Lead-silver concentrate where product is sold locally •
Slide 22: TSX: EDR | NYSE: EXK
22 TSX: EDR | NYSE: EXK
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