ENDEAVOUR APPOINTS NEW
CHIEF OPERATING OFFICER
Abidjan, February 21, 2019 - Endeavour Mining (TSX:EDV OTCQX: EDVMF) ("Endeavour") announces the appointment of Mark Morcombe as Chief Operating Officer, with effect from May 6, 2019. He will take over from Jeremy Langford who will be leaving Endeavour on February 28, 2019.
Mr. Morcombe has more than 25 years of experience in the mining industry with extensive expertise in leading cost and productivity initiatives. Prior to joining Endeavour, Mark was Chief Operating Officer of Centamin Plc and has previously held senior roles at several Africa-focused mining groups, including Acacia Mining, AngloGold Ashanti and Gold Fields.
Sébastien de Montessus, President and CEO of Endeavour Mining, said: "We are very pleased to welcome Mark to Endeavour as he has a strong operating track record, notably with Tier 1 African mines.
We would like to thank Jeremy for his contribution to Endeavour, notably for leading the design and build of most of our operating assets, and for training and assembling a core construction team. He has played a key role in successfully building Houndé and de-risking the Ity CIL construction with its main milestones now complete and wet commissioning underway. As our near-term construction focus is expected to shift from large builds to asset optimizations, which marks the end of several years of large capital-intensive project builds, we support Jeremy's decision to pursue other opportunities and wish him success."
ABOUT MARK MORCOMBE
Mr. Morcombe has more than 25 years of experience in the mining industry with extensive expertise in leading safety, environment, mine planning, cost and productivity initiatives. Prior to joining Endeavour, Mark was Chief Operating Officer of Centamin Plc, operator of the Sukari Mine in Egypt, since joining in January 2018. Before this, he held the same role at Acacia Mining, which operates three mines in Tanzania. From late 2010 to April 2016 he held several senior roles at AngloGold Ashanti, including Senior Vice President, Planning and Business Development, followed by more than three years as SVP Ghana, leading the Obuasi gold mine turnaround project.
He holds a degree in Mining Engineering from the Western Australian School of Mines.
Martino De Ciccio
Brunswick Group LLP in London
ABOUT ENDEAVOUR MINING CORPORATION
Endeavour Mining is a TSX listed intermediate African gold producer with a solid track record of operational excellence, project development and exploration in the highly prospective Birimian greenstone belt in West Africa. Endeavour is focused on offering both near-term and long-term growth opportunities with its project pipeline and its exploration strategy, while generating immediate cash flow from its operations.
Endeavour operates 4 mines across Côte d'Ivoire (Agbaou and Ity) and Burkina Faso (Houndé, Karma) which are expected to produce 615-695koz in 2019 at an AISC of $760-810/oz.
For more information, please visit www.endeavourmining.com.
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.