Endeavour Silver Signs Agreement to Acquire Exploration Properties in Parral District, Chihuahua, Mexico from Silver Standard

VANCOUVER, BC--(Marketwired - September 14, 2016) - Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) announces it has entered into a definitive agreement dated September 13, 2016 (the "Agreement") with Silver Standard Resources Inc. to acquire a 100% interest in Silver Standard's Parral properties, located in the historic silver mining district of Hidalgo de Parral in southern Chihuahua state, Mexico (view maps).

Terms of the Agreement

Pursuant to the Agreement, Endeavour will pay US$6 million in Endeavour common shares, being 1,198,083 common shares at US$5.008 per share, representing the 10-day average closing price of Endeavour's shares on the New York Stock Exchange ("NYSE") prior to the date of the Agreement.

In addition, Endeavour has committed to spend US$2 million on exploration on two of the properties (the San Patricio and La Palmilla properties) over the two-year period following the closing of the transaction. Upon completing this exploration expenditure, Endeavour will have one year to deliver a National Instrument 43-101 ("NI 43-101") technical report, including a resource estimate, and issue an additional US$200,000 in common shares to Silver Standard for each one million ounces of silver delineated in measured and indicated resources on the San Patricio and La Palmilla properties, based on the 10-day average closing price of Endeavour's common shares on the NYSE prior to the earlier of delivery of the NI 43-101 report and the third anniversary of the initial closing date under the Agreement. Silver Standard will also retain a 1% net smelter returns royalty on production from the San Patricio and La Palmilla properties.

Completion of the transactions under the Agreement is subject to customary closing conditions, including NYSE and Toronto Stock Exchange approvals.

Highlights of the Properties

• Acquiring a 100% interest in three large properties: Veta Colorada, La Palmilla and San Patricio, totalling 3,432 hectares, subject to 1% NSR production royalties.

• Ideally located within the historic Hidalgo de Parral silver district, where SGM, the Mexican Geological Survey, estimates historic production of approximately 250 million ounces (oz) of silver. Palmilla was famous for supplying silver to the federal mint of Mexico in the late 1800's.