Mr. Mark Morcombe reports

ENDEAVOUR ANNOUNCES WET COMMISSIONING IS UNDERWAY AT SABODALA-MASSAWA BIOX EXPANSION

Wet commissioning activities are now under way at Endeavour Mining PLC's Sabodala-Massawa expansion project (BIOX expansion) in Senegal. The BIOX expansion project is on budget, with construction now 91 per cent complete, and the first gold pour is expected on schedule, in May. Ian Cockerill, chief executive officer, commented: "We are extremely pleased with our progress as we start wet commissioning at the BIOX expansion project. Importantly, we have achieved this milestone with no lost-time injuries having worked more than three million man hours, which is a testament to the strong safety culture that is a hallmark of our in-house construction teams.

"At completion, Sabodala-Massawa will become a true top-tier asset with 2024 production of up to 400,000 ounces at an industry-leading AISC [all-in sustaining cost] of less than $850 per oz, with costs expected to improve further in the coming years, embedding the mine firmly in the lowest cost quartile.

"This year, Endeavour is well positioned to transition from a phase of investment in organic growth, to a more cash flow generative phase in the second half of the year. This inflection point will allow us to focus our efforts on increasing our shareholder returns while de-levering our balance sheet, as we continue to execute on our strategy."

Wet commissioning of the BIOX expansion was delivered in less than 23 months after construction was launched in April, 2022. During construction activities, up to 1,300 employees and contractors were on site, 82 per cent of whom were Senegalese nationals, successfully completing over three million man-hours with zero lost time injuries. The addition of the 1.2 Mtpa BIOX expansion, with an initial capital cost of $290-million, is expected to add 194,000 oz per annum of incremental production over the first five years, lifting Sabodala-Massawa to top-tier status with expected production of 360,000 to 400,000 oz at an AISC of between $750 to $850 per oz in FY 2024, increasing to above 400,000 oz from 2025, increasing the capacity of the existing power plant by 50 per cent

Qualified persons

Mark Morcombe, chief operating officer of Endeavour Mining, a fellow of the Australasian Institute of Mining and Metallurgy, is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical information in this news release.

About Endeavour Mining Corp.

Endeavour Mining is one of the world's senior gold producers and the largest in West Africa, with operating assets across Senegal, Ivory Coast and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian greenstone belt across West Africa.

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