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ENDEAVOUR TERMINATES DISCUSSIONS FOR POTENTIAL TRANSACTION WITH ACACIA
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George Town, March 21, 2017 - Endeavour Mining Corporation (TSX:EDV)(OTCQX:EDVMF) announced today that it has terminated discussions with Acacia Mining plc regarding a potential corporate transaction, following the inability to reach an agreement that it believed would create adequate value for Endeavour shareholders. Endeavour confirmed on January 13, 2017, that it was in preliminary discussions with Acacia Mining plc regarding a potential transaction.
Sébastien de Montessus, President & CEO, stated: "Our main focus is to create long-term value for our shareholders by advancing the strong organic growth opportunities within our portfolio, which include both the Houndé and Ity CIL projects and our ambitious five-year exploration program. We will continue to maintain a disciplined approach to business development opportunities and only enter into transactions that we believe are aligned with our long-term strategic objectives and that create value for our shareholders."
CONTACT INFORMATION
| Martino De Ciccio VP - Strategy & Investor Relations +33 (0)1 70 38 36 95 [email protected] | DFH Public Affairs in Toronto John Vincic, Senior Advisor (416) 206-0118 x.224 [email protected] Brunswick Group LLP in London Carole Cable, Partner +44 7974 982 458 [email protected] |
ABOUT ENDEAVOUR MINING
Endeavour Mining is a TSX-listed intermediate gold producer, focused on developing a portfolio of high quality mines in the prolific West-African region, where it has established a solid operational and construction track record.
Endeavour is ideally positioned as the major pure West-African multi-operation gold mining company, operating 5 mines in Côte d'Ivoire (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2017, it expects to produce between 600koz and 640koz at an AISC of US$860 to US$905/oz. Endeavour is currently building its Houndé project in Burkina Faso, which is expected to commence production in Q4-2017 and to become its flagship low-cost mine with an average annual production of 190koz at an AISC of US$709/oz over an initial 10-year mine life based on reserves. The development of the Houndé project is expected to lift Endeavour's group production +900kozpa and decrease its average AISC to circa $800/oz by 2018, while exploration aims to extend all mine lives to +10 years.
Corporate Office: 5 Young St, Kensington, London W8 5EH, UK
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