Mr. Sebastien de Montessus reports

ENDEAVOUR ANNOUNCES 1 mOZ HIGH-GRADE INDICATED RESOURCE ON KARI PUMP AT HOUNDE

Endeavour Mining Corp. has released a significant maiden resource estimate for the previously announced Kari Pump discovery at its flagship Hounde mine in Burkina Faso.

Highlights:

• Kari Pump one-million-ounce maiden indicated resource increases Hounde's measured and indicated (M&I) resources by 40 per cent:
  • Indicated resource of 11.3 million tonnes at 2.71 grams per tonne Au for 987,000 ounces; inferred resource of 200,000 tonnes at 2.21 grams per tonne Au for 20,000 oz;
  • The mineralization covers an area 1.3 kilometres long by 0.8 km wide and remains open in numerous directions;
  • 98 per cent of maiden resource has been classified to the indicated category;
  • Higher indicated resource grade: 2.71 g/t Au for Kari Pump compared with 2.05 g/t for the Hounde mine;
  • Amenable to open-pit mining as mineralization starts at surface;
  • About 45 per cent of the indicated resource is located within the oxide and transition zones, compared with most of the Hounde indicated resource being located in fresh zones;
  • Low discovery cost of $9 per indicated resource ounce.
• Kari Pump represents only 35 per cent of the large Kari gold-in-soil anomaly:
  • Kari Pump is one of three high-grade discoveries made in the large Kari gold-in-soil anomaly where more than 200,000 metres were drilled over the past 18 months;
  • The Kari Center discovery extends 1.2 km along strike and across a width of over 200 m, while the Kari West discovery extends at least 1.0 km along strike and across a width of 500 m, with both mineralized systems remaining open.
• A second 200,000 m drilling program will start before year-end, focused on extending the mineralization at Kari Pump, and delineating a maiden resource for Kari West and Kari Center.

Kari Pump, located only seven km west of the processing plant, is one of three high-grade discoveries made in the large Kari gold-in-soil anomaly which covers a six km long by 2.5 km wide area. A total of 203,900 metres have been drilled over the past 18 months, covering only 35 per cent of the anomaly, with drill results previously announced on Nov. 13, 2017, and May 24, 2018.

Since May, 2018, efforts have focused mainly on the Kari Pump discovery, with over 71,000 metres drilled to extend and infill its mineralization, which has led to the successful delineation of a maiden resource. In addition, over 20,000 metres were drilled on the Kari Center and Kari West discoveries, for which a maiden resource is expected to be delineated in 2019.

The Kari Pump maiden resource estimate has increased Hounde's measured and indicated resources by 40 per cent, as presented in the attached table, while adding high-grade material. The Kari Pump maiden resource covers an area 1.3 km long by 0.8 km wide and remains open toward the east, north, northwest and southwest. Due to the intensive infill drill program completed, 98 per cent of maiden resource has been classified to the indicated category. As the mineralization starts at surface, it is amenable to open-pit mining. In addition, approximately 45 per cent of the indicated resource is located within the oxide and transition zones, compared with most of the Hounde indicated resource located in fresh zones.

                            KARI PUMP NOVEMBER 2018 MINERAL RESOURCE ESTIMATE
  
On a 100-per-cent      Hounde mine                 Kari pump                   Total
basis resources shown (as at Dec. 31, 2017)       (as at Nov. 1, 2018)        (current as at Dec. 31, 2017) 
inclusive of reserves                                         
                   
                       Tonnage    Grade content    Tonnage     Grade content   Tonnage      Grade content     Var. Au
                           (Mt) (Au g/t)  (Au koz)     (Mt)  (Au g/t)  (Au koz)    (Mt)   (Au g/t)  (Au koz)  Content

Measured resource          3.6     2.40       281                                  3.6       2.40       281        0%
Indicated resources       33.7     2.01     2,178     11.3      2.71       987    45.0       2.19     3,165       45% 
M&I resources             37.3     2.05     2,459     11.3      2.71       987    48.7       2.20     3,446       40%
Inferred resources         3.2     2.64       275      0.3      2.21        20     3.5       2.61       295        7%

Mineral reserve estimates follow the Canadian Institute of Mining, Metallurgy and Petroleum definitions standards for
mineral resources and reserves and have been completed in accordance with the Standards of Disclosure for Mineral 
Projects as defined by National Instrument 43-101. Reported tonnage and grade figures have been rounded from raw 
estimates to reflect the relative accuracy of the estimate. Minor variations may occur during the addition of rounded
numbers. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Resources were 
constrained by MII 1,500$/oz pit shell and based on a cut-off of 0.5 g/t Au. For the notes related to the Hounde mine
resource estimate, please consult the March 13, 2018, press release available on the company's website. The Hounde 
mine mineral resource is inclusive of Hounde mine production of 201,390 ounces of gold between Dec. 31, 2017, and 
Sept. 30, 2018. The updated mineral resource has an effective date of Nov. 1, 2018, and is current as of 
Dec. 31, 2017.

Another aggressive 200,000-metre drill program is expected to start before year-end focused on extending the mineralization of Kari Pump and delineating a maiden resource for both the Kari West and Kari Center discoveries, in addition to testing other nearby targets.

Sebastien de Montessus, president and chief executive officer, stated: "The maiden resource announced today at Kari Pump is extremely encouraging. The size and high-grade nature of the resource confirms Hounde as a world-class asset with significant exploration potential to extend its status as a long-life, low-cost flagship mine within our portfolio.

"I would like to congratulate our Hounde exploration team for its commitment, enthusiasm and professionalism, and to thank them for their efforts, which are bearing fruit today. It is impressive to delineate a maiden resource with more than 98 per cent classified in the indicated category and at a discovery cost of just $9/oz."

Patrick Bouisset, executive vice-president, exploration and growth, stated: "We are very pleased with the maiden resource at Kari Pump as it confirms the high potential we see at Hounde. With over 200,000 metres drilled, processed and analyzed in less than 18 months over the Kari area, our team has proven the ability to deliver quickly on high-priority targets.

"Looking ahead, we are excited by the upside potential in the wider Kari area and the other regional targets. As such we have launched another intensive 200,000-metre drill campaign with the goal of quickly delineating more resources.

"More broadly, the exploration success achieved notably at Kari Pump, Ity and Fetekro just two years since the implementation of our five-year strategic exploration plan in late 2016, demonstrates that we remain on track to reach our ambitious discovery target set at a discovery cost lower than $20/oz."

About the Kari area exploration program

Following the decision to develop the Hounde mine, exploration resumed in early 2017 with an initial reconnaissance drilling campaign prioritizing various targets identified during the 2016 exploration strategic review. In 2017, the campaign validated Hounde's significant exploration potential as high-grade mineralization was intercepted at the Kari, Sia/Sianikoui and Bouere extension targets. Given the potential size of the Kari gold-in-soil anomaly, which covers a six km long by 2.5 km wide area, the target was identified as a top priority and an extensive drill campaign was launched.

The Kari area is located only seven km west of the processing plant and in proximity to an existing haul road that will be used to transport ore from Bouere.

Over the past 18 months, a total of 2,237 holes have been drilled (comprising 1,431 air core, 716 reverse circulation and 90 diamond drilling) amounting to 203,900 metres, on an area which represents only 35 per cent of the large Kari gold-in-soil anomaly.

• In 2017, most of the initial reconnaissance drilling focused on the Kari Pump target with a total of 337 AC holes totalling 30,460 metres, 23 RC holes totalling 3,400 metres and few DD holes.
• The follow-up drilling campaign, which started in late December, 2017, and ran until May, 2018, consisted of 1,020 holes totalling 78,400 metres comprising 900 AC reconnaissance holes totalling 63,500 metres and 120 RC holes totalling 14,900 metres. This campaign extended the Kari Pump mineralization and outlined the Kari West and Kari Center discoveries, as published on May 24, 2018. Mineralization at the Kari West discovery extends at least one kilometre along strike and across a width of 500 metres while the mineralization at the Kari Center discovery extends 1.2 kilometres along strike and across a width of over 200 metres.
• Since May, 2018, a follow-up drilling campaign, consisting of 573 RC holes totalling 61,537 metres and 69 DD holes totalling 10,106 metres, has been conducted on Kari Pump. In addition, a follow-up drilling campaign consisting of 205 AC and RC holes totalling 20,074 metres has been conducted on the Kari Center and Kari West discoveries, for which a maiden resource is expected to be delineated in 2019.

Another intensive 200,000-metre drill program, consisting of air core reconnaissance, reverse circulation and diamond drilling, is expected to start before year-end focused on extending the mineralization of Kari Pump and delineating a maiden resource for both the Kari West and the Kari Center discoveries. In addition, drilling is also expected to be done on new targets in close proximity to the Vindaloo pit (currently being mined) and on other nearby targets.

About Kari Pump

Since May, 2018, exploration efforts at Hounde have mainly been focused on the Kari Pump discovery, with over 71,000 metres drilled to extend and infill its mineralization which led to the successful delineation of a maiden resource. Due to the intensive infill drill program completed, based on a 40 m by 40 m drilling grid, 98 per cent of the maiden resource has been classified to the indicated category. The drilling program was very successful, as over 84 per cent of the drilled RC and DD holes encountered at least one interval of mineralization of 0.5 g/t Au with a minimum width of more than two metres. In addition, the average drill hole intercept amounted to 6.54 metres at 3.01 g/t Au uncapped.

The Kari Pump maiden resource covers an area 1.3 km long by 0.8 km wide and remains open toward the east, north, northwest and southwest. As the mineralization starts at surface, it is amenable to open-pit mining. In addition, approximately 45 per cent of the indicated resource is located within the oxide and transition zones, compared with most of the Hounde indicated resource located in fresh zones.

A sensitivity analysis performed at a gold price of $1,250/ounce demonstrates the robustness of the Kari Pump resources model due to its shallow and high-grade mineralization, as shown in the attached table.

     KARI PUMP NOVEMBER, 2018, MINERAL RESOURCE ESTIMATE
  
                                   Tonnage     Grade   Content 
                                       (Mt)  (Au g/t)  (Au koz)

Indicated resource                                          
Based on a gold price of $1,500/oz   11.33      2.71       987     
Based on a gold price of $1,500/oz    7.86      3.15       796     
Inferred resource                                           
Based on a gold price of $1,500/oz    0.28      2.21        20      
Based on a gold price of $1,500/oz    0.20      2.36        15      

No measure resources have been estimated. Mineral reserve 
estimates follow the Canadian Institute of Mining, Metallurgy 
and Petroleum definitions standards for mineral resources and 
reserves, and have been completed in accordance with the 
Standards of Disclosure for Mineral Projects as defined by 
National Instrument 43-101. Reported tonnage and grade figures
have been rounded from raw estimates to reflect the relative 
accuracy of the estimate. Minor variations may occur during 
the addition of rounded numbers. Mineral resources that are 
not mineral reserves do not have demonstrated economic 
viability. Resources were constrained by MII 1,500$/ounce pit 
shell and for sensitivity purpose by MII 1,250$/oz pit shell 
and based on a cutoff of 0.5 gram per tonne Au.

Some selected best intersects from the second campaign over Kari Pump include (true width uncapped):

• H-18-030: 8.91 m at 6.59 g/t Au including 2.48 m at 18.85 g/t Au;
• HA-18-002: Eight m at 18.57 g/t Au including 1.80 m at 77.50 g/t Au;
• RC-18-071: 20.86 m at 17.34 g/t Au including 2.98 m at 112.80 g/t Au;
• RC-18-110: Five m at 16.64 g/t Au including one m at 61.20 g/t Au, and two m at 7.81 g/t Au, and two m at 1.47 g/t Au, and 33.99 m at 5.35 g/t Au, including one m at 10.75 g/t Au, and one m at 9.79 g/t Au, and one m at 8.36 g/t Au, and three m at 12.57 g/t Au, and two m at 7.68 g/t Au, and three m at 7.11 g/t Au;
• RC-18-127: 3.93 m at 2.57 g/t Au including 0.98 m at 7.80 g/t Au, and 19.65 m at 4.30 g/t Au including 0.98 m at 5.39 g/t Au, and 6.89 m at 8.06 g/t Au;
• RC-18-164: 6.94 m at 11.22 g/t Au including 0.99 m at 47.20 g/t Au;
• RC-18-207: 6.96 m at 15.47 g/t Au including 2.98 m at 31.29 g/t Au;
• RC-18-209: 5.94 m at 48.32 g/t Au including 2.97 m at 95.40 g/t Au;
• RC-18-212: 11.89 m at 5.02 g/t Au including 0.99 m at 7.36 g/t Au, and 1.98 m at 12.09 g/t Au;
• RC-18-244: 6.90 m at 28.85 g/t Au including 2.96 m at 66.47 g/t Au;
• RC-18-261: 6.93 mat 8.02 g/t Au including 1.98 m at 24.65 g/t Au;
• RC-18-276: 2.98 m at 17.15 g/t Au including 0.99 m at 50.40 g/t Au;
• RCA-18-086: 9.95 m at 6.31 g/t Au including 2.98 m at 17.09 g/t Au;
• RCB-18-034: 11.81 m at 31.44 g/t Au including 0.98 m at 344.00 g/t Au;
• RCB-18-109: 2.90 m at 44.49 g/t Au including 0.97 m at 126.50 g/t Au;
• RCB-18-112: Five m at 109.25 g/t Au including two m at 270.75 g/t Au;
• RCB-18-114: 8.95 m at 15.29 g/t Au including 1.99 m at 57.90 g/t Au;
• RCB-18-124: Eight m at 25.81 g/t Au including two m at 95.35 g/t Au;
• RCB-18-125: 1.95 m at 2.14 g/t Au, and 18.60 m at 6.34 g/t Au including 6.85 m at 15.02g/t Au;
• RCB-18-128: 16.76 m at 6.94 g/t Au including 4.93 m at 12.85 g/t Au, and 0.99 m at 33.60 g/t Au.

Geologically, Kari Pump is underlain by andesite flows with minor volcano sediment and sediments that are locally intruded by few diorite sills. Gold mineralization occurs within a sheared reverse fault (D2) that appears to be folded and dipping from 0 to 40 degrees to the west-northwest and northwest. Observed clear alteration consists of pervasive creamy sericite, intermittent rhodochrosite, chlorite seams and pyritized quartz/carbonate veining. The laterite and saprolite are relatively thick at Kari Pump with an average thickness which is ranging from 50 to 85 metres.

Kari Pump mineralization has also been significantly extended since May, 2018, and exhibits now some significant intercepts in the oxide section within the saprolite and in some instances very close from surface.

Next steps:

• A 200,000-metre drilling program will be launched in December, 2018, and will continue in 2019, with the main following objectives:
  • Pursue Kari Pump extensions with the goal of delineating additional resources;
  • Delineate a maiden resource for both the Kari West and Kari Center discoveries;
  • Explore other highly ranked targets including notably Vindaloo Deep and South, Dohun/Sia/Sianikoui and Grand Espoir;
• Metallurgical tests on Kari Pump are under way and a reserve calculation will then follow.

Kari Pump resource modelling

The statistical analysis, geological modelling and resource estimation were prepared by Kevin Harris, CPG. Mr. Harris is Endeavour Mining's vice-president, resource manager, and a qualified person as defined by National Instrument 43-101.

The Kari Pump resource model was developed in Geovia's Surpac software. A total of six mineralized zones were defined from the current drilling data and geologic interpretations across Kari Pump. The gold assays from the drill holes were composited to one-metre intervals within the mineralized wireframes and capped at from 10 to 40 g/t Au based on the statistics of each mineralized zone. Spatial analysis of the gold distribution within the mineralized zone using variograms indicated a good continuity of the grades along strike and down dip of the mineralized zones and were used to establish ordinary kriging parameters.

Density was measured in 4,016 core samples within the various rock types then averaged within the model by the weathered zones. The laterite density is 2.0, the saprolite is 1.8, the transition is 2.25 and the fresh rock is 2.74.

The gold grade was estimated with the ordinary kriging method constrained within the mineralized domains. The grade was estimated in multiple passes to define the higher confidence areas and extend the grade to the interpreted mineralized zone extents.

The grade estimation was validated with visual analysis by comparison with the drilling data on sections, comparing with inverse distance squared estimation and with swath plots comparing the block grades with the composites.

The mineralized domains were classified as indicated and inferred resource classifications depending on the sample spacing, number samples, confidence in mineralized zone continuity and geostatistical analysis. Indicated classification was generally applied to blocks within the mineralized zoned defined by a minimum of six samples from at least three drill holes with a 50-metre search. Inferred classification is defined by a minimum of three samples within a 75-metre search from two drill holes.

The resource was constrained by a $1,500 and a $1,250 pit shell and 0.50 g/t cut-off. The Whittle pit shell optimization assumed a base mining cost of $2 per tonne, and an adjusted ore mining cost of $3/tonne for oxide, $3.8/tonne for transition and $3.85/tonne for fresh rock. Mining recovery of 95 per cent, mining dilution of 20 per cent, pit slope of 40 degree, gold recovery of 90 per cent in oxide, transition and fresh rock, and processing and general and administrative cost of $16.20 per tonne for oxide, $17.50/tonne for transition and $20.50 for fresh rock.

Assays and quality assurance/quality control/drilling and assay procedures

Reverse circulation drill samples were collected at one-metre intervals using dual tube, a percussion hammer and drop centre bit. Samples were split at the drill site using a three-tier riffle splitter with both total and laboratory sample weights recorded. Wet samples were minimized, however, if they occurred the entire sample was dried and split using the same method and equipment as the rest of the samples. A split of the sample was taken and kept for reference. Representative samples for each interval were collected with a spear, sieved into chip trays during the course of geological logging and stored in a secure location.

Drill core (PQ, HQ and NQ size) samples are selected by geologists and sawn in half with a diamond blade at the project site. Half of the core is retained at the site for reference purposes. The average sample interval is approximately one metre in length and two kilograms to three kg in weight.

All samples are transported by road to ALS Burkina SARL in Ouagadougou (Burkina Faso). A record of all stages of the sample transportation is documented for chain of custody purposes. Sample preparation includes, crushing the entire sample to two millimetres at 80 per cent passing and pulverizing a one kg split to 75 micro metres at 85 per cent passing.

Samples are analyzed for gold using standard fire assay technique with a 50-gram charge and an atomic absorption (AA) finish. Assay results over five and 10 g/t Au are analyzed by gravimetric and screen fire assay methods, respectively. Coarse blanks, field duplicates and certified reference material are inserted by geologists in the sample stream for quality control and to ensure there are adequate quality control samples in each fire assay batch.

All aspects of sampling and assaying at Kari is monitored through the implementation of a quality assurance/quality control program, compliant with National Instrument 43-101 standards. Kari drill and QA/QC programs were audited in 2017 and the primary laboratory was audited in Q2 2018.

Qualified persons

The scientific and technical content of this news release has been reviewed, verified and compiled by Gerard de Hert, EurGeol, senior vice-president, exploration, for Endeavour Mining. Mr. de Hert has more than 20 years of mineral exploration and mining experience and is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. The resource estimation was completed by Kevin Harris, CPG, VP, Resources, for Endeavour Mining and qualified person as defined by National Instrument 43-101.

About Endeavour Mining Corp.

Endeavour Mining is a Toronto Stock Exchange-listed intermediate African gold producer with a solid record of operational excellence, project development and exploration in the highly prospective Birimian greenstone belt in West Africa. Endeavour is focused on offering both near-term and long-term growth opportunities with its project pipeline and its exploration strategy, while generating immediate cash flow from its operations.

Endeavour operates five mines across the Ivory Coast (Agbaou and Ity), Burkina Faso (Hounde, Karma) and Mali (Tabakoto), which are expected to produce 670,000 to 720,000 ounces in 2018 at an AISC of $840 to $890/oz. Endeavour's high-quality development projects (recently commissioned Hounde, Ity CIL and Kalana) have the combined potential to deliver an additional 600,000 oz per year at an AISC well below $700/oz between 2018 and 2020.

We seek Safe Harbor.