Endeavour Silver Corp.

=Endeavour Silver Corp.=

Endeavour Silver Corp. is a Canadian publicly traded company headquartered in Vancouver, B.C. Canada. Endeavour is a mining company engaged in the exploration for and production of the precious metal silver. Canada is home to several other silver mining companies including ECU Silver Mining, Great Panther Resources and First Majestic Silver [http://prudentinvestor.blogspot.com/2007/07/list-of-silver-mining-companies.html] . The Company was incorporated in 2003. Endeavour’s shares trade on three stock exchanges: under the symbol EDR on the TSX Stock Exchange; EJD on the DBFrankfurt Stock Exchange; EXK on the AMEX Stock Exchange. Hundreds of other mining companies (gold, silver, uranium, zinc...) trade on the TSX Exchange as well. The company is considered a small-cap miner as a result of its market capitalization. A small-cap company is one that has a market capitalization of $1 Billion or lower [http://www.investopedia.com/articles/analyst/010502.asp] .

Mining Operations

Endeavour is one of several Canadian miners focused on silver exploration and production in Mexico. Endeavour has three active silver mining and exploration projects within Mexico: the Guanajuato Mines Project in Guanajuato State; the Parral Exploration Project in Chihuahua State and its flagship Guanacevi Mines in Durango State, which is in the Sierra Madres mountain range and the major mining belt in Mexico where many silver mining companies are active and from where about one third of the silver currently in circulation was produced [http://seekingalpha.com/article/28406-junior-mining-companies-the-treasure-of-the-sierra-madre] . Endeavour's properties contain a total of 41.3 ounces of silver in resources: 14.9 million ounces in proven and probable reserves, 14.3 million ounces in measured and indicated reserves, and 12.1 million ounces in inferred reserves. The company also has some gold resources: total proven, probable, measured, and indicated and inferred resources of 152,600 ounces [http://www.mining-stocks-news.info/endeavour-moneyandmarketsvisit.html] .

Growth of Mining Operations

Endeavour is one of the fastest growing primary producers of silver worldwide. The company produced 2.14 million ounces in 2007, a 58% year-over-year increase and up 600% since 2004 [http://www.edrsilver.com/s/ReservesResources.asp] . Endeavour was one of the first emerging producers in Mexico after it bought up the Guanacevi Project from Industrias Penoles, in 2004. Shortly thereafter, the company initiated exploration and outlined a brand new resource zone within weeks of commencing a drill program. This allowed a rapid development program to support recommencement of mining operations just six months after the project was acquired.

:Analyst Thomas Tan states that ``the Guanacevi project is a miracle from the start. They inspected the old mine in 2004, quickly made the decision to purchase the mine along with neaby properties and the old process plant with only a $7M initial payment. Then they expanded the mining further along the vein into an un-mined area, and discovered high grade silver, and started production in half year from the purchase, which is record time in the industry, and a proud achievement for Endeavour. They did all this in 2004, right at the start of the current silver bull market - talk about perfect timing!`` [http://www.321gold.com/editorials/tan/tan061808.html] .

Endeavour’s management team has conducted an aggressive exploration drilling program over the past three years while building the Guanacevi Mines into a core area of operations, growing the resources through exploration, and expanding the production and processing capacity. Ongoing interpretation of the district geology has led to additional small property acquisitions in close proximity to the known deposit areas. Endeavour is working to assemble control of the most promising holdings to generate more exploration targets in the future [http://www.mining-stocks-news.info/endeavour-mexicomikevisit.html] .

The company completed another acquisition in 2007, adding the Guanajuato Project including several historic mines and a large processing plant. The company is attempting to prove up new silver resources, and has invested in upgrading the infrastructure and refurbishing the plant equipment to support a more efficient development plan. The mill at the Guanajuato Project should be running at 300 tonnes per day by the end of 2008.

The Company's total overall production estimate for 2008 is 2.5 million oz. silver [http://www.mining-stocks-news.info/endeavour-moneyandmarketsvisit.html] .

Endeavour CEO Godfrey Walton says the company's priority this year is boosting the resources at each of its three active projects in Mexico. To do this, the company has five drill rigs working on a 38,000 meter drilling program. Endeavour is investing $15 million over three years at Guancevi and Guanajuato to expand resources to 60 million ounces of silver. According to Hugh Clarke, Endeavour’s aim is to acquire new properties, and new companies, with a view to taking it towards production of the order of 8 million to 12 million ounces annual production [http://www.edrsilver.com/i/pdf/Minesite-Jun2008.pdf] . Analyst Tan estimates annual production of 5 million ounces of silver by mid 2009 to early 2010 [http://www.321gold.com/editorials/tan/tan061808.html] .

In addition to the Guanajuato and Guanacevi projects, Endeavour is also exploring at the Parral area in Chihuahua Parral,_Chihuahua, currently under feasibility evaluation, and at the Arroyo Seco property located in south-eastern Michoacan Michoacan, still under discovery phase.

Mining Climate in Mexico

Mexico is presently the 2nd largest silver producing nation after Peru, with over 400 years of silver mining history, dating back to the Spaniards in the 1500's. [http://www.moneyandmarkets.com/issues.aspx?Grabbing-Mexican-Gold-and-Silver-434] Mexico and Peru are relatively geo-politically safe, with Mexico at an even lower political risk by virtue of being a NAFTA member and especially since 1993, when Mexico revised its mining regulations and codes to become a mining-friendly country. The silver mining area in Mexico is mainly along the Sierra Madre mining belt through the center of Mexico where both of Endeavour`s Guanajuato and Guanacevi mines are located.

Management

"Chairman & CEO"

Bradford Cooke, M.Sc., P.Geo.
*Geologist with 30 years experience in the mining industry.
*M.Sc. Geology degree, University of British Columbia, Vancouver BC, 1984.

"President & COO"

Godfrey Walton, M.Sc., P.Geo.
*Geologist with 32 years experience in the mining sector.
*M.Sc. Geology degree, Queens University, Kingston ON, 1978.

"Vice President, Mexico Operations"

David Howe, M.Sc. Mining Geology
*Geologist with 18 years experience in precious and base metal mines.
*M.Sc. Mining Geology, Camborne School of Mines, England.

"Vice President, Exploration"

Barry Devlin, M.Sc., P.Geo.
*Geologist with 26 years of experience in international exploration programs and production geology.
*M.Sc. Geology, 1987, University of British Columbia, Vancouver, BC.

"Vice President, Corporate Communications"

Hugh Clarke
*Over 30 years experience in financial community including the brokerage industry and director of several public mining companies.
*Since 1974 he has been actively involved in the precious metals sector as an investor and trader.

"Mexico Projects Director and Legal Representative in Mexico"

Miguel A. Ordaz R., Ing.
*Geological engineer with 30 years experience in mineral exploration and mine management in Mexico.
*Ing. Geo. degree, Universidad de Guanajuato, Guanajuato MX, 1968.

External Links

* [http://www.edrsilver.com/ Endeavour Silver Corp. website]
* [http://minerals.usgs.gov/minerals/pubs/commodity/silver/ Silver Statistics and Information]
* [http://www.silverinstitute.org The Silver Institute Industry website]

See Also

* Silver as an investment
* Silver coin
* Silver standard
* Silver mining