EDV Vanguard Extended Duration Treasury

ENDEAVOUR UPSIZES AND EXTENDS ITS RCF UNTIL 2021, PROVIDING SIGNIFICANT HEADROOM TO FUND GROWTH PROJECTS

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George Town, September 19, 2017 - Endeavour Mining (TSX:EDV)(OTCQX:EDVMF) is pleased to announce that it has refinanced its previous Revolving Credit Facility ("RCF") on improved terms and upsized it to $500 million from $350 million, thereby providing significant headroom to fund its growth projects.

Sébastien de Montessus, President & CEO, stated: "We are delighted to increase and extend the RCF on significantly improved terms with strong endorsements from our existing bank group, and the addition of 3 new lenders to our syndicate who are global leaders in mining finance.

Our ability to fund our growth projects is further strengthened with this upsized RCF which complements our existing cash position, future cash flow generation from our operating mines as well as the expected proceeds from the Nzema mine sale. With project payback periods of less than two years at both Hounde and Ity, we expect to quickly repay any drawn portion of the RCF while preserving our flexibility to fund future projects."

On September 19, Endeavour entered into an Amended and Restated Facility Agreement with a syndicate of international banks for an upsized and extended RCF with improved terms compared to its previous RCF, which was established in March 2015.

The key terms of the upsized RCF include:

• Principal amount of $500 million, representing a $150 million increase from the principal amount of $350 million under the 2015 RCF.
• The new RCF will bear interest on a sliding scale of between LIBOR plus 2.95% to 3.95% based on the Company's leverage ratio, a decrease compared to its previous RCF interest rate of LIBOR plus 3.75% to 5.75%.
• Commitment fees for the undrawn portion of the facility of 1.03%, compared to 1.31% to 2.01% (depending on the applicable margin) with its previous RCF.
• Lower maintenance costs, which are expected to represent savings of approximately $5 million per year compared to the previous RCF.
• The term of the new RCF is four years, maturing in September 2021, representing an extension of the previous RCF which matures in March 2020.
• The principal outstanding on the upsized RCF is repayable as a single bullet payment on the maturity date, compared to semi-annual reductions/repayments starting September 2018 for the 2015 RCF.
• The new RCF can be repaid at any time without penalty, and offers Endeavour a corporate style covenant package, which enhances the flexibility to run its business from day-to-day.

Proceeds from the loan will be utilized to fund Endeavour's project pipeline, repay the existing RCF, and may be used for general corporate purposes. The enlarged bank syndicate includes Citibank, ING Bank, Investec and Société Générale as continuing lenders, and Barclays, HSBC and Macquarie as new lenders.

CONFERENCE CALL AND LIVE WEBCAST FOR ITY CIL PROJECT

Endeavour Mining intends to publish the Optimization Study for its Ity CIL Project before TSX market open tomorrow (September 20^th, 2017) and host a conference call and live webcast on the same day at 9:30am Toronto time (EST).

The conference call and live webcast are scheduled on Wednesday September 20^th at:
9:30am Toronto time
6:30am in Vancouver
9:30am in Toronto and New York
2:30pm in London
9:30pm in Hong Kong and Perth

The live webcast can be accessed through the following link:
https://edge.media-server.com/m6/p/44r6ckra

Analysts and interested investors are also invited to participate and ask questions using the dial-in numbers below:
International: +1646 254 3360
North American toll-free: 1877 280 2342
UK toll-free: 0800 279 4992

Confirmation code: 5815693

The conference call and webcast will be available for playback on Endeavour's website.

Click here to add Webcast reminder to Outlook Calendar

CONTACT INFORMATION

ABOUT ENDEAVOUR MINING CORPORATION

Endeavour Mining is a TSX-listed intermediate gold producer, focused on developing a portfolio of high quality mines in the prolific West-African region, where it has established a solid operational and construction track record.

Endeavour is ideally positioned as the major pure West-African multi-operation gold mining company, operating 5 mines across Côte d'Ivoire (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2017, it expects to produce between 500koz and 530koz at an AISC of US$855 to US$900/oz, following the full-year deconsolidation of the discontinued Nzema mine. Endeavour is currently building its Houndé project in Burkina Faso, which is expected to commence production in Q4-2017 and to become its flagship low-cost mine with an average annual production of 190koz at an AISC of US$709/oz over an initial 10-year mine life, based on reserves. The development of the Houndé and Ity CIL projects are expected to lift Endeavour's group production to +900kozpa and decrease its average AISC to circa $800/oz by 2019, while exploration aims to extend all mine lives to +10 years.

Corporate Office: 5 Young St, Kensington, London W8 5EH, UK   

This news release contains "forward-looking statements" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business. AISC, all-in sustaining costs at the mine level, cash costs, operating EBITDA, all-in sustaining margin, free cash flow, net free cash flow, free cash flow per share, net debt, and adjusted earnings are non-GAAP financial performance measures with no standard meaning under IFRS, further discussed in the section Non-GAAP Measures in the most recently filed Management Discussion and Analysis.

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