Production up 6% and AISC flat • Operating Cash Flow doubled • Net Debt reduced by $52m
OPERATIONAL AND FINANCIAL HIGHLIGHTS
(for continuing operations)
• Q3-2019 production increased by 10koz over Q2-2019 to 181koz (+6%) and AISC remained flat at $803/oz
(+2%) despite the severe rainy season
• FY-2019 Group guidance adjusted to 650-695koz, reflecting Ity’s stronger production performance, at an
AISC of $795-845/oz
• Operating Cash Flow, before non-cash working capital, for Q3-2019 doubled to $115 million or $1.05/share
compared to Q2-2019
• Strong Net Free Cash Flow before debt and lease repayment of $52 million achieved for Q3-2019, following
nearly four years of intensive growth-capital spend
• Net Debt was reduced from $660 million to $608 million over the previous quarter-end, resulting in the Net
Debt/Adjusted EBITDA ratio decreasing sharply from 2.8x to 1.9x
• Q3-2019 Adjusted Net Earnings increased by 267% to $33 million or $0.30/share compared to $9 million or $0.08/share in Q2-2019

Sébastien de Montessus, President & CEO of Endeavour, commented:
“The strong net free cash flow generated this quarter marks an important milestone for Endeavour as it demonstrates
that we have de-risked and repositioned the group as a cash-generating business, after nearly four years of intensive
growth-capital spend. Our business is now strategically diversified across multiple assets with stronger long-term
planning capabilities. This provides greater comfort in our ability to generate stable cash flows, as demonstrated by
the strong third quarter results achieved despite the severe rainy season.
2
Having successfully built our Ity and Houndé mines with minimal equity dilution, our priority now is to quickly deleverage the business, underpinned by our short investment payback periods. During this debt reduction phase, we expect to benefit from low capital-intensive growth with Ity’s 25% volumetric upgrade nearly complete and the expected upcoming integration of recently discovered higher grade deposits at our flagship Ity and Houndé mines.
Looking ahead, we continue to focus on building optionality within the portfolio through our aggressive exploration program – a good example of this is the recently announced 1.2Moz Indicated resource at 2.5g/t at our Ivorian
greenfield Fetekro property, discovered for less than $9/oz.”

George Town, November 5, 2019 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the third quarter of 2019, with highlights provided in the table below.
see & read more on
https://s21.q4cdn.com/954147562/files/doc_financials/2019/q3/191105-EDV-NR-Q3-Results_vFINAL.pdf