Endeavour Mining Corporation

ENDEAVOUR NOTES EXTENSION OF PUSU DEADLINE AT THE REQUEST OF CENTAMIN

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER PURSUANT TO RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”). IT DOES NOT REPRESENT A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL ULTIMATELY BE MADE.

FOR IMMEDIATE RELEASE.

ENDEAVOUR NOTES EXTENSION OF PUSU DEADLINE
AT THE REQUEST OF CENTAMIN

George Town, December 23, 2019 – Endeavour Mining Corporation (TSX:EDV) (OTCQX:EDVMF) (“Endeavour”) notes the announcement of Centamin plc (“Centamin”) made earlier today, confirming that, following the reciprocal exchange of certain due diligence information, Centamin made a request to the Panel on Takeovers and Mergers (the “Panel”) to grant an extension to the deadline by which Endeavour is required to either announce a firm intention to make an offer for Centamin under Rule 2.7 of the City Code on Takeovers and Mergers (the “Code”) or announce that it does not intend to make an offer for Centamin. The requested extension has been granted by the Panel to January 14, 2020.

Accordingly, Endeavour is now required, by not later than 5.00pm on January 14, 2020, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be further extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

On December 19, 2019, Endeavour announced that it had executed a standstill undertaking in favour of Centamin, pursuant to which it has agreed, among other things, not to announce a firm intention to make an offer for Centamin under Rule 2.7 of the Code unless the offer is consented to or recommended by the Board of Centamin.

Endeavour continues to believe in the strategic merits of a merger with Centamin for both sets of shareholders, and welcomes the extension of the PUSU deadline announced by Centamin, which will allow both parties to commence their due diligence investigations.

A further announcement will be made when appropriate.

CONTACT INFORMATION

Martino De Ciccio VP – Strategy & Investor Relations [phone] [e-mail]

Brunswick Group LLP in London