Endeavour Silver (EXK) 2025 Precious Metals Summit - Beaver Creek summary

Market environment and strategic positioning

• Silver prices have surged to $41, creating a favorable environment for growth and expansion.

• The company is transitioning from mature, high-cost assets to new projects with longer mine lives and lower costs.

• Positioned to benefit from further increases in silver prices over the next several years.

• Organic growth strategy includes exploration at core assets, advancing the growth pipeline, and opportunistic M&A.

Key strategic developments and production growth

• Acquired Kolpa Mine in Peru, adding a third producing asset and expanding annual production by 5.0 Moz AgEq, with integration progressing smoothly.

• Terronera Project in Mexico commenced commissioning in Q2 2025, ramping up to 1,900–2,000 tpd and expected to deliver 4.0 Moz Ag and 38,000 oz Au annually over a 10-year mine life.

• Annual production is set to rise from 8 million silver equivalent ounces in 2024 to 20 million in 2026, targeting 30 million+ by 2030.

• Pitarrilla Project, one of the world’s largest undeveloped silver deposits, is advancing with a $25.7M budget for feasibility, development, and exploration in 2025.

• 2025 consolidated outlook targets 4.5–5.2 Moz silver, 31–34 koz gold, and 7.0–7.9 Moz silver equivalent production, with all-in sustaining costs of $25–$26/oz net of gold credit.

Asset integration, resource highlights, and exploration

• Kolpa integration is underway, with significant exploration upside across 30,000 ha and 50 identified veins.

• Kolpa's historical resource is 118 million silver equivalent ounces, with plans to prove this up by 2026.

• Terronera holds probable reserves of 88.8 Moz AgEq, with a 10-year mine life and high-grade mineralization.

• Pitarrilla contains 600 Moz Ag defined by NI 43-101, with both open pit and underground mining potential and key permits in place.

• Exploration and development continue at Parral and other greenfield projects, supporting long-term growth.