Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production and resources in Mexico. The expansion plan now underway at the high grade, producing Santa Cruz silver mine should propel Endeavour into the ranks of the top 5 primary silver producers in the world.

Endeavour stands out from other primary silver companies for its high silver grades (+15 oz. per ton), its high silver leverage (+90%), the substantial exploration upside of the Santa Cruz property (+30 million oz), the significant un-used capacity of the Guanacevi plant (up to 1400 tpd) and the organic growth potential of these core assets.

Project Highlights

Mine Acquisition - Endeavour acquired a 51% interest in the Santa Cruz silver mine and Guanacevi process plant (the "Guanacevi Project") for US$3 million in cash payments and US$1 million in work expenditures in January 2005, and holds the option to purchase the remaining 49% interest for US$4 million in cash payments by January 2008.

New Discovery - Within 6 months of optioning the Guanacevi Project in 2004, Endeavour successfully discovered high-grade silver mineralization in the new North Porvenir zone, drove a 400 m access ramp into it, estimated an initial 4.8 million oz inferred silver resource still open for expansion in all directions, and commenced production.

Current Production - In 2005, Endeavour tripled production to 950,000 oz. and reduced the cash costs from US$ 7.10 per oz. down to US$ 4.90 per oz..

Growth Plans - Endeavour is investing US$10 million over 3 years at Guanacevi to expand resources to +30 million oz. silver and production to 3.6 million oz. silver per year, just to fill the existing capacity of the plant. The Company can capture future growth through acquiring and exploring additional properties in Guanacevi and further silver mine acquisitions in Mexico.

Investment Potential - The top four primary silver mining companies each produce between 6.8 and 14.8 million oz silver per year, have market capitalizations of US$500 million to US$1 billion and are valued at around US$60 to US$90 per oz of annual silver production. If Endeavour grows to 3.6 million oz per year by 2007 and captures similar market valuations, the investment potential should be a multiple of the current market cap.

Website: http://www.edrsilver.com