Mr. Dan Dickson reports

ENDEAVOUR SILVER CONTINUES TO INTERSECT HIGH GRADE POLYMETALLIC MINERALIZATION IN THE SAN PATRICIO VEIN SYSTEM ON THE PARRAL PROPERTY

Endeavour Silver Corp. has released positive drill results from its drill program over the past year at its Parral project in the state of Chihuahua, Mexico. The high-grade results show the potential for resource expansion at depth and along strike in the San Patricio area. Since September, 2022, the company has drilled over 6,595 metres (m) in 22 holes from surface, with the aim to expand mineralized zones at San Patricio and test regional targets previously identified.

"We continue to make progress in understanding the mineralization system, growing resources and advancing the project to sufficient scale to support an economic study. This phase of drilling focused on high-grade polymetallic mineralization within the San Patricio vein system, verifying extensions of the mineralized zones at depth and along strike below historic mine workings," stated Dan Dickson, chief executive officer. "For Endeavour, Parral represents a historic silver-producing district with significant district-scale exploration and development potential.

Highlights from recent drill results:

• 508 grams per tonne silver, 0.11 g/t gold, 0.45 per cent lead and 1.60 per cent zinc for 586 g/t silver equivalent over 2.33 metres ETW (estmiated true width), including 1,405 g/t Ag, 0.13 g/t Au, 0.41 per cent Pb and 2.22 per cent Zn for 1,506 g/t AgEq over 0.43 m (SPT-47);
• 336 g/t Ag, 0.28 g/t Au, 1.04 per cent Pb and 2.55 per cent Zn for 477 g/t AgEq over 2.50 m ETW, including 1,760 g/t Ag, 0.40 g/t Au, 0.69 per cent Pb and 3.97 per cent Zn for 1,952 g/t AgEq over 0.29 m (SPT-38);
• 74 g/t Ag, 0.24 g/t Au, 0.77 per cent Pb and 2.57 per cent Zn for 206 g/t AgEq over 9.1 m ETW (SPT-34).

Background information

Endeavour Silver acquired the Parral project from SSR Mining in 2016. Endeavour silver controls four district mineralized veins systems totalling 3,450 hectares. The Parral project is located adjacent to the city of Parral, with paved and gravel road access, on-power grid, readily available water, labour, and services. The company published a mineral resource estimate in March, 2020, and restarted exploration activities in late 2021 following the pandemic. Significant drill results were previously reported in December, 2021, and September, 2022 (see news release dated Dec. 16, 2021, and news release dated Sept. 8, 2022).

Recent drilling in the San Patricio vein system has demonstrated the continuation of mineralization to the south and down dip, which is expected to grow the estimated resources at Parral. The most recent and deepest hole, SPT-53, intersected 198 g/t Ag, 0.3 g/t Au, 1.98 per cent Pb and 7.3 per cent Zn for 536 g/t Ag Eq over 3.9 metres. The company plans to continue testing the extension of this system.

Since recommencement of exploration activities, drilling has been conducted on the Colorada vein, where the company has discovered mineralization in the Sierra Plata, El Verde and San Joaquin areas and the extension of San Patricio vein system. All drilling was outside of the published mineral resource estimate and results are expected to grow the resource estimate. In addition to more drilling, the company plans further metallurgical testing and the commencement of an economic assessment of the Parral project. Social and environmental baseline studies are planned to begin to support future impact assessment studies.

Recent drill results

The significant Parral drill results from September, 2022, to September, 2023, are summarized in the attached table.

During 2023, the company also tested various district targets, drilling 2,433 metres in nine holes. This drilling was designed to test the northern extension of the Colorada vein and other areas north of San Patricio. These targets did not encounter significant mineralization. Endeavour's technical team continued with mapping and sampling of numerous targets for future discovery-focused drilling.

Qualified person and quality assurance/quality control

Dale Mah, PGeo, vice-president, corporate development, of Endeavour Silver, is the qualified person who reviewed and approved the technical information contained in this news release. A quality control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office and shipped to ALS Labs, where they are dried, crushed, split and 250-gram pulp samples are prepared for analysis. Gold is determined by fire assay with an atomic absorption finish and silver by aqua regia digestion with inductively coupled plasma finish, overlimits by fire assay and gravimetric finish.

About Endeavour Silver Corp.

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 achieve its goal of becoming a premier senior silver producer. The company's philosophy of corporate social integrity creates value for all stakeholders.

We seek Safe Harbor.