Endeavour Terminates Discussions For Potential Transaction With Acacia

Endeavour Mining Corporation

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Endeavour Terminates Discussions For Potential Transaction With Acacia

posted on Mar 21, 2017 02:03PM

Endeavour Terminates Discussions For Potential Transaction With Acacia

2017-03-21 12:50:00 PM ET (Globe Newswire)

View News Release in PDF Format

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.

Sebastien 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 Hounde 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                  DFH Public Affairs in Toronto
VP - Strategy & Investor Relations John Vincic, Senior Advisor
+33 (0)1 70 38 36 95               (416) 206-0118 x.224
[email protected]      [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 Cote 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 Hounde 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 Hounde 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

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.