🕐14.04.10 - 16:12 Uhr
Endeavour Silver Reports Record Silver Production in Q1, 2010 compared to Q1 200
9; Produces 766,210 oz Silver (Up 34%) and 3,775 oz Gold (Up 62%)
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Re: News - Wednesday, April 14, 2010
Endeavour Silver Reports Record Silver Production in Q1, 2010
compared to Q1 2009; Produces 766,210 oz Silver (Up 34%) and
3,775 oz Gold (Up 62%)
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Vancouver, BC, Canada -- April 14, 2010 - Endeavour Silver Corp.
("Endeavour") (EXK: NYSE-Amex) (EJD: DB-Frankfurt) (EDR: TSX) announced
today that silver production for Q1, 2010 from the Companys two
operating silver mines in Mexico, the Guanacevi Mine in Durango State
and the Guanajuato Mine in Guanajuato State, totalled 766,210 ounces
(oz) silver, up 34% compared to Q1, 2009.
Gold production also rose in the Q1, 2010, up 62% to 3,775 oz compared
to Q1, 2009, resulting in silver-equivalent production rising to
1,011,569 oz (assuming a 65:1 silver:gold ratio - base metals not
included as silver-equivalents).
The Q1, 2010 production data is outlined in the table below:
*the throughput (tonnes per day) at Guanajuato are based on a 6 day
work week.
Godfrey Walton, President and COO, stated, "Endeavour posted another
strong quarter of production growth in Q1, 2010.
With tonnage
throughput continuing to improve at both Guanacevi and Guanajuato, we
are already ahead of our production forecast in 2010."
"Like 2009, production is expected to be relatively flat in Q1 and Q2,
but should increase in the second half of the year as a third new mine
is brought into production at Guanacevi.
During the Q1, the Company
completed over 1.3 kilometres (km) of ramp development at Guanacevi in
order to bring Porvenir Cuatro on line this year as scheduled.
The
Guanacevi crushing circuit expansion is now underway and should be
completed on schedule, allowing the plant to increase throughput in the
second half of the year to take advantage of the new Porvenir Cuatro
mine coming online.
"At Guanajuato, the Lucero vein continues to contribute significantly
to production with the balance of ore coming from Cebada and Bolanitos.
During Q1, the Company mined a lower grade portion of the Lucero vein.
However silver grades are expected to return to normal levels (200 g/t
Ag and 1.9 g/t Au) in Q2.
The Company completed over 1.0 km of mine
development at Guanajuato during the quarter."
Godfrey Walton, M.Sc., P.
Geo., the President and COO for Endeavour, is
the Qualified Person who reviewed this news release and oversaw the
mining operations.
Endeavour Silver Corp is a small-cap silver mining company focused on
the growth of its silver production, reserves and resources in Mexico.
Since start-up in 2004, Endeavour has posted five consecutive years of
growing silver production, reserves and resources.
The organic
expansion programs now underway at Endeavours two operating silver
mines in Mexico combined with its strategic acquisition program should
help Endeavour achieve its goal to become the next premier mid-tier
primary silver producer.
ENDEAVOUR SILVER CORP.
Per:
/s/ "Godfrey Walton"
GODFREY WALTON
President and Chief Operating Officer
For more information, please contact Hugh Clarke at Toll free:
877-685-9775, tel: (604) 685-9775, fax: (604) 685-9744, email
or visit our website, www.edrsilver.com.
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 Endeavours anticipated performance in 2009,
including silver and gold production, timing and expenditures to
develop new silver mines and mineralized zones, silver and gold grades
and recoveries, cash costs per ounce, capital expenditures and
sustaining capital and the use of proceeds from the Companys recent
financing.
The Company does not intend to, and does not assume any
obligation to update such forward-looking statements or information,
other than as required by applicable law.
Forward-looking statements or information involve known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Endeavour
and its operations to be materially different from those expressed or
implied by such statements.
Such factors include, among others:
fluctuations in the prices of silver and gold, fluctuations in the
currency markets (particularly the Mexican peso, Canadian dollar and
U.S.
dollar); changes in national and local governments, legislation,
taxation, controls, regulations and political or economic developments
in Canada and Mexico; operating or technical difficulties in mineral
exploration, development and mining activities; risks and hazards of
mineral exploration, development and mining (including environmental
hazards, industrial accidents, unusual or unexpected geological
conditions, pressures, cave-ins and flooding); inadequate insurance, or
inability to obtain insurance; availability of and costs associated
with mining inputs and labour; the speculative nature of mineral
exploration and development, diminishing quantities or grades of
mineral reserves as properties are mined; the ability to successfully
integrate acquisitions; risks in obtaining necessary licenses and
permits, and challenges to the companys title to properties; as well
as those factors described in the section "risk factors" contained in
the Companys most recent form 40F/Annual Information Form filed with
the S.E.C.
and Canadian securities regulatory authorities.
Although the
Company has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking statements or information, there may be other factors
that cause results to be materially different from those anticipated,
described, estimated, assessed or intended.
There can be no assurance
that any forward-looking statements or information will prove to be
accurate as actual results and future events could differ materially
from those anticipated in such statements or information.
Accordingly,
readers should not place undue reliance on forward-looking statements
or information.
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Copyright (c) 2010 ENDEAVOUR SILVER CORP.
(EDR) All rights reserved.
For more information visit our website at http://www.edrsilver.com/ or
send mailto:
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