Mr. Sebastien de Montessus reports

ENDEAVOUR UPSIZES AND EXTENDS ITS RCF UNTIL 2021, PROVIDING SIGNIFICANT HEADROOM TO FUND GROWTH PROJECTS

Endeavour Mining Corp. has refinanced its previous revolving credit facility (RCF) on improved terms and upsized it to $500-million from $350-million, thereby providing significant headroom to finance its growth projects.

Sebastien de Montessus, president and chief executive officer, stated: "We are delighted to increase and extend the RCF on significantly improved terms with strong endorsements from our existing bank group, and the addition of three new lenders to our syndicate who are global leaders in mining finance. Our ability to fund our growth projects is further strengthened with this upsized RCF which complements our existing cash position, future cash flow generation from our operating mines as well as the expected proceeds from the Nzema mine sale. With project payback periods of less than two years at both Hounde and Ity, we expect to quickly repay any drawn portion of the RCF while preserving our flexibility to fund future projects."

On Sept. 19, 2017, Endeavour entered into an amended and restated facility agreement with a syndicate of international banks for an upsized and extended RCF with improved terms compared to its previous RCF, which was established in March, 2015.

The key terms of the upsized RCF include:

• Principal amount of $500-million, representing a $150-million increase from the principal amount of $350-million under the 2015 RCF;
• The new RCF will bear interest on a sliding scale of between London interbank offered rate plus 2.95 per cent to 3.95 per cent based on the company's leverage ratio, a decrease compared with its previous RCF interest rate of LIBOR plus 3.75 per cent to 5.75 per cent;
• Commitment fees for the undrawn portion of the facility of 1.03 per cent, compared to 1.31 per cent to 2.01 per cent (depending on the applicable margin) with its previous RCF;
• Lower maintenance costs, which are expected to represent savings of approximately $5-million per year compared to the previous RCF;
• The term of the new RCF is four years, maturing in September, 2021, representing an extension of the previous RCF which matures in March, 2020;
• The principal outstanding on the upsized RCF is repayable as a single bullet payment on the maturity date, compared to semi-annual reductions/repayments starting September, 2018, for the 2015 RCF;
• The new RCF can be repaid at any time without penalty, and offers Endeavour a corporate style covenant package, which enhances the flexibility to run its business from day to day.

Proceeds from the loan will be utilized to finance Endeavour's project pipeline, repay the existing RCF and may be used for general corporate purposes. The enlarged bank syndicate includes Citibank, ING Bank, Investec and Societe Generale as continuing lenders, and Barclays, HSBC and Macquarie as new lenders.

Conference call and live webcast for Ity CIL project

Endeavour Mining intends to publish the optimization study for its Ity CIL project before the Toronto Stock Exchange market open tomorrow (Sept. 20, 2017) and host a conference call and live webcast on the same day at 9:30 a.m. Toronto time.

The conference call and live webcast are scheduled on Wednesday Sept. 20, at 9:30 a.m. Toronto time.

The live webcast can be accessed through the internet.

Analysts and interested investors are also invited to participate and ask questions using the dial-in numbers below:

• International: 1-646-254-3360;
• North American toll-free: 1-877-280-2342;
• UK toll-free: 0-800-279-4992;
• Confirmation code: 5815693.

The conference call and webcast will be available for playback on Endeavour's website.

About Endeavour Mining Corp.

Endeavour Mining is a TSX-listed intermediate gold producer, focused on developing a portfolio of high-quality mines in the prolific West African region, where it has established a solid operational and construction record. Endeavour is ideally positioned as the major pure West African multioperation gold mining company, operating five mines across Ivory Coast (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto) and Ghana (Nzema). In 2017, it expects to produce between 500,000 ounces and 530,000 ounces at an AISC of $855 (U.S.) per ounce to $900 (U.S.) per ounce, following the full-year deconsolidation of the discontinued Nzema mine. Endeavour is currently building its Hounde project in Burkina Faso, which is expected to commence production in the fourth quarter of 2017 and to become its flagship low-cost mine with an average annual production of 190,000 ounces at an all-in sustaining cost of $709 (U.S.) per ounce over an initial 10-year mine life, based on reserves.

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