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To: Goose94 who wrote (15805)	2/29/2016 2:29:02 PM
From: Goose94	Read Replies (1) \| Respond to of 203026

Endeavour Mining (EDV-T) Feb 29, '16 is pleased to announce that it has received US$25.3 million upon simultaneously signing and closing the sale transaction of its non-core Youga Mine to MNG Gold ("MNG"). The total cash consideration is comprised of US$20 million for the asset and US$5.3 million for the cash-on-hand. In addition, Endeavour has retained a 1.8% Net Smelter Royalty ("NSR") on production realized beyond the current reserve from the property sold, and with the inclusion of a buyback provision. Neil Woodyer, CEO of Endeavour, stated: "This transaction provides upfront value for Youga's remaining 2 year mine life and gives us greater financial flexibility to pursue growth opportunities. It is in line with our strategic objective of actively managing our portfolio to improve its overall quality. Since MNG's nearby Balogo high-grade deposit will give a second life to the Youga operation, we firmly believe that this transaction is in the best interest of all stakeholders, including our employees, the government, and the local population." About the Youga Mine The Youga Gold Mine is located approximately 180 km southeast of Ouagadougou. Endeavour holds a 90% interest in Burkina Mining Company ("BMC") which has been granted the rights to exploit the Youga Gold Deposit. The remaining 10% of BMC is held by the Government of Burkina Faso. Youga is an open pit mining operation with a 1mtpa gravity/CIL processing facility. It has recovered a total of over 0.6 million ounces of gold since operations commenced in 2008. Youga employs approximately 665 workers in total, including full time Endeavour employees and contractors. As at December 31, 2015, Measured and Indicated mineral resources (inclusive of reserves) were 17.8 million tonnes at 1.4 g/t gold containing 0.8 million ounces and the Proven and Probable mineral reserves were 2.5 million tonnes at 1.6 g/t gold containing 0.1 million ounces[1]. In 2015, Youga produced 68,407 ounces of gold. Production in 2016 is forecast to be 40,000 to 45,000 ounces at a mine-level AISC cost of $980 to $1,030 per ounce. About MNG Gold MNG Gold is a privately owned Turkish gold exploration and development company focused on West Africa and Turkey. MNG Gold own the high grade gold Balogo project, located in proximity to the Youga mill, in Burkina Faso and the Kokoya gold project in Liberia. MNG Gold has a broad capacity to explore, develop and produce gold in Turkey and abroad. The Company is owned and financed by Mr Mehmet Nazif Günal, a Turkish entrepreneur. Contact Information Vincent Benoit EVP - Strategy & Business Development +33 (0)1 70 38 36 96 vbenoit@endeavourmining.com Martino De Ciccio VP - Strategy & Investor Relations +33 (0)1 70 38 36 95 mdeciccio@endeavourmining.com Brunswick Group LLP Carole Cable, Partner +44 7974 982 458 ccable@brunswickgroup.com Qualified Persons Adriaan "Attie" Roux, Pr.Sci.Nat, Endeavour's Chief Operating Officer, is a Qualified Person under NI 43-101, and has reviewed and approved the technical information related to mining operations in this news release. Michael Alyoshin, MAusIMM CP Min, Endeavour's Chief mining engineer, is a Qualified Person under NI 43-101, and has reviewed and approved the information ore depletion information related to mining operations in this news release. Gérard De Hert, EurGeol, Vice President Exploration is the Qualified Person overseeing Endeavour's exploration projects in West Africa and has reviewed and approved the exploration and resource information in this news release About Endeavour Mining Corporation Endeavour Mining is a TSX-listed intermediate gold mining company which operates 5 West African mines in Côte d'Ivoire, Mali, Burkina Faso and Ghana. In 2016, it expects to produce between 575,000 and 600,000 ounces at an all-in sustaining cost of US$875 to US$925 per ounce. Endeavour Mining is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.