"VANCOUVER, British Columbia, June 27, 2023 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces it has entered into a sales agreement dated June 27, 2023 (the “ Sales Agreement ”) with BMO Capital Markets Corp. (the lead agent), CIBC World Markets Inc., TD Securities (USA) LLC, H.C. Wainwright & Co., LLC, B. Riley Securities, Inc., Raymond James (USA) Ltd. and National Bank of Canada Financial, Inc. (collectively, the “ Agents ”) pursuant to which the Company may, at its discretion and from time-to-time during the 25 month term of the Sales Agreement, sell, through the Agents, such number of common shares of the Company (“ Common Shares ”) as would result in aggregate gross proceeds to the Company of up to US$60 million (the “ Offering ”). Sales of Common Shares will be made through “at the market distributions” as defined in the Canadian Securities Administrators’ National Instrument 44-102 - Shelf Distributions, including sales made directly on the New York Stock Exchange (the “ NYSE ”), or any other recognized marketplace upon which the Common Shares are listed or quoted or where the Common Shares are traded in the United States. The Common Shares will be distributed at the market prices prevailing at the time of each sale and, as a result, prices may vary as between purchasers and during the period of distribution. No offers or sales of Common Shares will be made in Canada on the Toronto Stock Exchange (the “ TSX ”) or other trading markets in Canada. All references to dollars ($) in this news release are to United States dollars.

The Offering will be made by way of a prospectus supplement dated June 27, 2023 to the Company’s existing U.S. registration statement on Form F-10 (the “ Registration Statement ”) and Canadian short form base shelf prospectus (the “ Base Shelf Prospectus ”), each dated June 16, 2023. The prospectus supplement relating to the Offering has been filed with the securities commissions in each of the provinces of Canada (other than Québec) and the United States Securities and Exchange Commission (the “ SEC ”). The U.S. prospectus supplement (together with a related Registration Statement) is available on the SEC’s website (www.sec.gov) and the Canadian prospectus supplement (together with the related Base Shelf Prospectus) is available on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com. Alternatively, BMO Capital Markets will provide copies of the U.S. prospectus upon request by contacting BMO Capital Markets Corp. (Attention: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, by telephone: (800) 4143627, or by email: bmoprospectus@bmo.com .

Net proceeds of the Offering, if any, together with the Company’s current cash resources, will be used to fund the construction and development of the Company’s Terronera Mine, to advance the evaluation and development of the Pitarrilla and Parral properties, to assess potential development stage mineral properties for acquisition, to fund the potential acquisition of other development stage mineral properties, for continued exploration on the Company’s existing mineral properties and to add to the Company’s working capital.

The Company will pay the Agents compensation, or allow a discount, of 2.00% of the gross sales price per Common Share sold under the Sales Agreement. Sales under the Sales Agreement remain subject to necessary regulatory approvals, including the approval of the TSX and the NYSE.

This press release does not constitute an offer to sell any securities or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Endeavour Silver – Endeavour is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is advancing construction of the Terronera Project and exploring its portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders."