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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (69306)	9/13/2010 10:08:54 AM
From: loantech	Read Replies (1) of 78434

Endeavour Financial to sell 45% interest in Crew Gold Ticker Symbol: C:EDV C:CRU Endeavour Financial to sell 45% interest in Crew Gold Endeavour Financial Corp (C:EDV) Shares Issued 97,864,328 Last Close 9/10/2010 $2.73 Monday September 13 2010 - News Release Also Crew Gold Corp (4) (C:CRU) News Release Mr. Stephen Roberts of Endeavour reports ENDEAVOUR AGREES TO SELL 43% INTEREST IN CREW GOLD FOR US$215 MILLION CASH Endeavour Financial Corp.'s wholly owned subsidiary, Endeavour Gold Luxembourg SARL, has signed a binding agreement for the sale of 46,203,403 common shares of Crew Gold Corp., representing a 43-per-cent interest, to Severstal Gold NV for $215-million (U.S.) in cash. Endeavour had acquired its investment in Crew Gold at a total cost of US$134.5 million such that the sale of this investment realizes a profit of US$80.5 million at an annualized return on investment of 124%. Closing of the sale is anticipated to occur within the next forty eight hours.Neil Woodyer, Chief Executive Officer commented: "Endeavour has accepted the opportunity to exit its investment in Crew Gold at a significant profit which is a superior alternative to remaining in a minority shareholder position. The capital derived from monetizing this investment will be used to fund our growth and build value for Endeavour shareholders. Following this transaction Endeavour has approximately US$180 million of cash and access to a US$100 million Acquisition Facility. We are now in a position to aggressively seek acquisition opportunities in the gold sector."

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