Endeavour Silver Corp.
TSX VENTURE : EDR
FRANKFURT : EJD

Endeavour Silver Corp.

November 07, 2005 19:53 ET

Endeavour Silver Corp.: Underground Sampling Outlines High Grade Silver Mineralization at North Porvenir Mine, Guanacevi Project, Durango, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2005) - Endeavour Silver Corp. (TSX VENTURE:EDR)(FWB:EJD) announces that underground sampling in fiscal Q2 (June-July-August) outlined high-grade silver mineralization in four Stopes at the North Porvenir Mine, Guanacevi Project in Durango Mexico.

A total of 80 channel samples were taken across the Santa Cruz vein over an area 60 m long x 40 m up-dip in the northwest end of Stope 101.

The weighted average grade of 14 channel samples across the vein in the northwestern end of Sill 2308 (the original exploration ramp driven on the vein in Q4, 2004) returned 708 gpt silver and 1.29 gpt gold (785 gpt Ag equivalent or 22.9 oz per ton) over 3.09 m (10.1 feet). This area is located on Level 100, approximately 750 m northwest of the North Porvenir mine entrance immediately down-dip North Porvenir boundary. Seventeen of the 80 channel samples returned sub-samples grading 1000 gpt silver or higher five of which are shown in Table 1:



Table 1: Stope 101 Channel Samples
Width Silver Gold Ag Equivalent
Location (m) (ft) (gpt) (gpt) (gpt) (opt)
--------------------------------------------------------------------
Sill 2308 3.09 10.1 708 1.29 785 22.9
(Weighted average for 70 m along the vein)
US1376 2.40 7.9 1510 1.63 1608 46.9
Incl. 0.80 2.6 3814 3.20 4006 116.8
US1463 2.00 6.6 1524 1.96 1642 47.9
Incl. 0.20 0.7 4874 2.88 5047 147.1
And 1.00 3.3 1674 2.40 1818 53.0
US1538 2.80 9.2 1351 1.97 1469 42.8
Incl. 1.10 3.6 1822 1.50 1912 55.7
And 0.80 2.6 1065 2.35 1206 35.2
US1549 2.50 8.2 4516 3.92 4751 138.5
Incl. 1.35 4.4 8165 7.00 8585 250.3
US1561 4.05 13.3 1000 1.30 1078 31.4
Incl. 1.15 3.8 1325 1.80 1433 41.8
And 0.90 3.0 1712 2.00 1832 53.4


Stope 101 (developed from Sill 2308) was mined using shrinkage from Level 100 up-dip to within 10m of the North Porvenir property boundary with the recently acquired El Porvenir property (see Long Section and Cross Section attached). This part of Stope 101 produced 12,500 dry tonnes grading 505 gpt silver and 0.93 gpt gold (561 gpt Ag equivalent or 16.4 oz per ton in fiscal Q2, 2005).

A total of 26 channel samples were taken across the Santa Cruz vein in the first 3 cuts over the first 35m along the veins in Stope 113, located approximately 70 m northwest of Stope 101 on Level 100. The weighted average grades of the 26 channel samples across the vein in Stope 113 returned 369 gpt silver and 0.66 gpt gold (409 gpt Ag equivalents or 11.9 oz per ton) over 2.24 m (7.3 feet). Stope 113 produced 9000 dry tonnes grading 313 gpt silver and 0.52 gpt gold. (344 gpt Ag equivalent or 10.0 oz per ton) in fiscal Q2, 2005. Two of the 26 channel samples returned sub-samples grading 1000 gpt silver or higher, the top five of which are shown in Table 2:



Table 2: Stope 113 Channel Samples
Width Silver Gold Ag Equivalent
Location (m) (ft) (gpt) (gpt) (gpt) (opt)
--------------------------------------------------------------------
Sill 100 N 2.24 7.3 369 0.66 409 11.9
(Weighted average for 105 m along the vein)
US 1639 2.90 9.5 441 0.85 492 14.3
US 1656 2.50 8.2 933 1.37 1015 29.6
Incl. 1.10 3.6 1204 1.60 1300 37.9
US 1659 1.80 5.9 1421 2.38 1564 45.6
Incl. 0.90 3.0 2523 4.20 2775 80.9
US 1669 2.80 9.2 433 0.75 478 13.9
US 1676 2.90 9.5 454 0.91 509 14.8


A total of 46 channel samples were taken in Sill 200S and Stope 201 (first 4 cuts) over a length of 25 m along the vein. This area is located approximately 150 m southeast of Stope 101 on Level 200.

The weighted average grade of these samples returned 607 gpt silver and 0.92 gpt gold (662 gpt Ag equivalent or 19.3 oz per ton) over an average width of 2.18 m (7.2 feet). Sixteen of the 46 channel samples returned subs-samples grading 1000 gpt silver or higher, the top five of which are shown in Table 3.



Table 3: Stope 201 Channel Samples
Width Silver Gold Ag Equivalent
Location (m) (ft) (gpt) (gpt) (gpt) (opt)
--------------------------------------------------------------------
Sill 200S 2.18 7.2 607 0.92 662 19.3
(Weighted average for 25 m along the veins)
US 1711 2.20 7.2 1085 2.42 1230 35.9
0.80 2.6 1120 3.20 1312 38.3
US1734 2.90 9.5 1411 2.87 1583 46.2
0.80 2.6 3473 8.30 3971 115.8
US1751 2.10 6.9 1728 1.61 1825 53.2
0.90 3.0 1885 2.10 2011 58.6
US2531 1.20 3.9 1658 1.50 1748 51.0
0.60 2.0 2297 2.00 2417 70.5
US2642 1.9 6.2 1202 2.47 1350 39.4
0.4 1.3 2087 3.00 2267 66.1


A total of 73 channel samples were taken in Sill 200 N and Stope 202 (first 2 cuts) over a length of 20 m along the vein. This area is the down-dip extension of high-grade mineralization in Sill 2308 and Stope 101.


The weighted average grade of these samples returned 985 gpt silver and 1.57 gpt gold (1079 Ag equivalents or 31.5 oz per ton) over 2.00 m (6.6 ft in average width). Fifty-one of the 73 channel samples returned sub-samples grading 1000 gpt silver or higher, the top five of which are shown in Table 4.



Table 4: Stope 202 Channel Samples
Width Silver Gold Ag Equivalent
Location (m) (ft) (gpt) (gpt) (gpt) (opt)
--------------------------------------------------------------------
Sill 200 N 2.00 6.6 985 1.57 1079 31.5
(Weighted average for 20 m along the veins)
US1995 1.75 5.7 2637 3.67 2857 83.3
Incl. 0.70 2.3 4534 6.80 4942 144.1
US2256 1.65 5.4 2654 6.77 3060 89.2
Incl. 0.70 2.3 5176 14.80 6064 176.8
US2382 2.10 6.9 2717 2.27 2853 83.2
Incl. 0.70 2.3 6278 4.00 6518 190.0
US2472 2.40 7.9 2108 2.42 2253 65.7
Incl. 0.65 2.1 4789 5.70 5131 149.6
US2512 2.40 7.9 1642 2.93 1818 53.0
Incl. 1.00 3.3 2217 5.00 2517 73.4


In all tables, the location refers to the first sample number in each of the channel samples, which typically consisted of 4 sub-samples but ranged from 2 to 8. Channel samples were collected perpendicular to the vein, spaced every 4 to 5 meters along the vein, and then surveyed into the mine grid.

Now that Endeavour has secured the mining lease on the El Porvenir property a program of exploration drilling and underground development has commenced to evaluate the potential for Stopes 101 and 113 mineralization to continue up-dip in the Santa Cruz vein from North Porvenir onto El Porvenir. A fourth diamond drill rig is now onsite to drill approximately 3000 m of core in 20 holes on El Porvenir by year-end (see attached Long Section). The 95 Sill is now being driven down on the vein and the 88 Ramp is being driven up in the footwall in order to provide access for mining above Stope 101 in November.

Godfrey Walton, M.Sc, P.Geo., is the Qualified Person supervising the Phase 1 surface drilling and underground sampling programs on the Santa Cruz property. He has instituted a Quality Control sampling program of blanks and duplicates to monitor the integrity of all assay results. All samples are split by Endeavour personnel at the Guanacevi camp, assayed at the Guanacevi plant, and the blanks and duplicates are then driven to Durango where they are couriered to the Chemex lab in Hermosillo. Samples are dried, crushed and split and a 30 gram sub sample is taken for analysis. Gold and silver at both Guanacevi and Chemex are determined by fire assay with an atomic absorption (AA) finish.

The silver results from the Guanacevi lab average 1% lower than the Chemex results and the gold results are up to 50% higher than those from Chemex. The silver values represent an excellent correlation and demonstrate that the silver results from the Guanacevi lab can be relied upon, whereas the gold values cannot. The majority of the economic value of the vein is in silver.

Endeavour Silver Corp. (TSX VENTURE:EDR)(FWB:EJD) is a silver mining company focused on growth of its silver resources and production in Mexico. The expansion program now underway at the high grade, producing Santa Cruz silver mine in Durango, Mexico, should allow Endeavour to become one of the top primary silver producers worldwide.

On Behalf of the Board of Directors,

ENDEAVOUR SILVER CORP.

Bradford J. Cooke, Chairman and CEO

To view the attached map please click on the following link: http://www.ccnmatthews.com/docs/EDR1107.pdf

CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS

Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements.


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