Mr. Dan Dickson reports

ENDEAVOUR SILVER DELIVERS STRONG PRODUCTION IN Q1 2024

Endeavour Silver Corp. has released first quarter 2024 production of 1,460,006 silver ounces and 10,133 gold ounces for silver equivalent production of 2.3 million ounces.

"Across our portfolio, the operations performed largely in-line with our expectations to deliver our annual production guidance of 8.1- 8.8 million silver equivalent ounces in 2024," commented Dan Dickson, Chief Executive Officer. "The infrastructure upgrades in pumping and ventilation have stabilized production at Guanacevi, and the impact from these improvements is being realized by our strong start to the year. Gold and silver prices have strengthened considerably, which will improve future revenues. I look forward to building upon the success of this quarter."

Q1 2024 Highlights

• Guanacevi Continues to Deliver: Silver and gold production were consistent with plan showing higher gold grades and overall recoveries, offset by lower silver grades. Throughput slightly exceeded plan due to plant refurbishments and mining efficiencies that were implemented in 2023.
• Bolanitos Performance Remains Steady: Strong gold production continued from the fourth quarter of 2023. Silver production continued to trend down as lower silver grades were encountered; variations in grades quarter to quarter are expected.
• Metal Sales and Inventories: Sold 1,756,094 oz silver and 10,880 oz gold during the quarter. Held 174,759 oz silver and 394 oz gold bullion inventory and 7,369 oz silver and 385 oz gold in concentrate inventory at quarter end.

Q1 2024 Mine Operations

• Consolidated silver production decreased by 10 per cent to 1,460,006 ounces in Q1 2024 compared to Q1 2023, driven by 7 per cent lower silver production at the Guanacevi mine and 32 per cent lower silver production at the Bolanitos mine. Gold production increased by 8 per cent to 10,133 ounces in Q1 2024 compared to Q1 2023 due to 17 per cent higher gold production at the Bolanitos mine, offset by 2 per cent lower gold production at the Guanacevi mine.
• In Q1, 2024, Guanacevi throughput was 12 per cent higher than Q1 2023 and silver grades and gold grades were 21 per cent and 12 per cent lower, respectively, which drove the lower silver and gold output. Guanacevi throughput was slightly above plan due to plant refurbishments and modifications implemented last year, while grades were slightly lower due to typical variations in the resource model. Supplies of local third-party feed continued to supplement mine production, amounting to 11 per cent of quarterly throughput and contributing to the higher grades.
  • Bolanitos Q1 2024 throughput was 2 per cent lower than Q1 2023 with 31 per cent lower silver grades offset by 14 per cent higher gold grades. Silver production was 32 per cent lower while gold production was 17 per cent higher at the Bolanitos mine.

Qualified Person

Dale Mah, P.Geo., Vice President Corporate Development, a qualified person under NI 43-101, has approved the scientific and technical information related to operations matters in this news release.

Q1 2024 Financial Results and Conference Call

Q1 2024 financial results will be released before market open on Thursday, May 9, 2024 and Management will host a conference call the same day at 1:00 pm Eastern time to discuss the results.

Date: Thursday, May 9, 2024

Time: 10:00am Pacific / 1:00pm Eastern

Telephone: Canada & US +1-844-763-8274 International +1-647-484-8814

Replay: Canada & US +1-604-674-8052 International +1-855-669-9658 Passcode is 0771#; audio replay will be available on Company's website

About Endeavour Silver

Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.

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