Endeavour Silver Corp. provided a first quarter of 2024 construction progress update for its Terronera Project in Jalisco state, Mexico. First quarter 2024 Construction and Development Highlights: As of March 31, 2024, site works and activities included: Safety ?

A strong onsite safety focus has enabled a notable 60% reduction in the lost-time injury frequency rate since Second Quarter 2023, during a substantial increase in the workforce. Ongoing initiatives such as mandatory certification for working-at-heights, frequent field audits and inspections, rescue-team training, and regular emergency drills continue. Progress ?

Overall project progress reached 53% completion, with more than $158 million of the project?s budget spent to date. Project commitments total $225 million which is 83% of the $271 million capital budget. Engineering ?

Efforts have been transitioning over to construction support. Detail design was completed for the Tailing Storage Facility (?TSF?), Portal 2 waste dump, and Lower Platform excavation. Mine Development ?

During the quarter, over 1,000 metres of underground mine development was completed, bringing the total to over 3,200 metres. Mine crews continue working in Portal 1, 2, and 4 declines with excavations well advanced for the explosives magazines and the main pump-station sump system. Upper Platform Plant Site ?

Surface mill and infrastructure construction is 56% complete and progressing on schedule. Concrete work is 83% complete, and structural steel erection is 80% complete. Primary Crusher ?

Structural and mechanical construction was initiated on the conveyor and apron feeder support steel, and the apron feeder was placed in position. Course Ore Stockpile and Reclaim (?COS?) Tunnel ? Two apron feeders were installed in the COS tunnel along with structural steel support, which opened the area to install the SAG feed conveyor.

Grinding ? All major SAG and Ball Mill components were assembled. The high-pressure hydraulic pump was used for mounting the main bearings (spherical roller bearings), and all four bearings were installed under vendor supervision.

Structural steel and pump installations continued. Flotation ? All flotation cell tanks were set in place and installation of the drive decks and structural steel installation continued.

Several drive decks were assembled on the ground and lifted as complete units for each flotation cell tank. The regrind mill was set in place. Tailing Thickener ?

The floor foundation and wall concrete were completed and erection of steel commenced together with the installation of the thickener tank floor. Lower Facilities Platform and TSF ? Excavation for the TSF embankment key trench was nearly 60% complete, and the lower platform area was nearly 45% complete, with the excavated material suitable to use in the TSF key trench and as embankment fill.

Concrete work on the lower platform is anticipated to start in second quarter. Procurement ? Bulk materials procurement purchase orders have been released and lead times are aligned with the current schedule.

The Procurement team has focused on critical path purchases, such as electrical components and transfer chutes, and reducing bulk material lead times to increase schedule float. Onsite Personnel ? The workforce increased to 150 employees and over 400 contractor workers.

Community Relations ? Supporting the local municipality continues to be a major commitment. A new miner training program for local community members was established to provide training and employment.

The Company also sponsored English and computer skills for local communities. Environmental ? Environmental and social assessment initiatives continue according to schedule as outlined under the Equator Principal requirements for project loan financing.

Next Steps and Planning: The Terronera Project is on track for commissioning in fourth quarter 2024. For second quarter 2024, surface construction will continue focusing on mechanical installations and initial electrical work for the crushing, coarse-ore stockpile, grinding, flotation and tailing thickener areas. Excavation of the Lower Platform is anticipated to be complete in the coming months.

Concrete work is expected to be initiated for the LNG and power generation and concentrate and tailing filtration. Concentrate and tailing filtration structural, mechanical, and electrical installations will commence in early third quarter. Mine development in Portal 1, 2 and 4 declines will continue with first ore development anticipated in second quarter.

Initial long-hole mining is planned for third quarter followed by cut-and-fill mining; ore will be stockpiled for mill ramp up. Development activities at La Luz are anticipated to begin in second quarter with portal construction and ramp advance to ore access anticipated in fourth quarter. The critical path remains.