01:43 PM EDT, 08/30/2018 (MT Newswires) -- Endeavour Silver Corp. (EDR.TO) has completed an updated Pre-Feasibility Study for its Terronera mine project located 40 kilometres northeast of Puerto Vallarta in the state of Jalisco, Mexico. All currency references in US$.

The updated Terronera Mineral Resource and Reserve Estimates that form the basis for the updated 2018 PFS reflect significantly higher tonnes, grades and contained silver, gold and silver equivalent ounces (oz) in each category due to positive exploration drill results in 2017 and the inclusion of the high grade La Luz vein compared to the previous estimates that were the basis for the 2017 Pre-Feasibility Study.

Highlights of Updated Mineral Reserve and Resource Estimate and Updated PFS for Terronera

Silver equivalent Probable Mineral Reserves increased 32% to 59.5 million oz with increases in tonnes (16%), silver grades (8%) and gold grades (17%);

Silver equivalent Indicated Mineral Resources increased 23% to 60 million oz with increases in tonnes (10%) silver grades (3%) and gold grades (16%);

Silver equivalent Inferred Mineral Resources increased 55% to 14.8 million oz with increases in tonnes (49%) and gold grades (61%);

The higher Mineral Reserve and Resource Estimates support a longer Mine life of 9.5 years with average annual production of 5.1 million silver equivalent oz in phase 2 (year 3 and onwards).

Reduced costs due to higher grades and optimized engineering: Cash cost of $0.15 per Ag oz, net of gold by-product credits;

All in sustaining cost of $1.36 per Ag oz, net of gold by-product credits.

After-tax 5% NPV of $117.8 million (51% increase from 2017 PFS), Internal Rate of Return of 23.5% and Payback period of 5.4 years

Price: 2.99, Change: +0.05, Percent Change: +1.70