Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports production of 4.0 million silver ounces (oz) and 38,907 gold oz in 2019, for silver equivalent production of 7.1 million oz at an 80:1 silver:gold ratio. Silver production in the Fourth Quarter, 2019 was 939,511 oz and gold production was 9,578 oz, for silver equivalent production of 1.7 million oz.

Silver and gold production was lower in Q4, 2019 compared to Q4, 2018 due to the suspension of mining operations at the El Cubo mine during the quarter and lower throughput and grades at Bolanitos, partly offset by higher production at Guanacevi and new production at El Compas. The Company withdrew its revised guidance in Q4, 2019, silver production missed the low range of revised guidance by 4% and gold production missed the low range of revised 2019 production guidance by 2%.

Silver equivalent production was slightly lower in Q4, 2019 compared to Q3, 2019 due to the suspension of mining operations at the El Cubo mine on November 30th, 2019. Management initiated multiple measures at Guanacevi in Q2 and Bolanitos in Q3, 2019 to return the two operations to profitability. Continued improvement of tonnes mined, ore grades and oz produced are anticipated in 2020.

Bradford Cooke, Endeavour CEO, commented, "The Company's performance last year was negatively impacted by operating issues at all four mines. We made sweeping changes to the mining operations in Q2 and Q3 and as a result, we are finally seeing production turning around, led by Guanacevi. Endeavour expects higher production at each of its three mines in 2020."

"We continued to advance our Terronera and Parral projects, with additional engineering trade off studies completed for Terronera and continued exploration drilling at Parral during the Fourth Quarter. A final updated Pre-Feasibility Study for Terronera is being completed this month and an initial Preliminary Economic Assessment at Parral is expected in Q1, 2020."

Production Highlights for Fourth Quarter, 2019 (Compared to Fourth Quarter, 2018)

Highlights for Fiscal 2019 (Compared to Fiscal 2018)

Production Table for 2019

Three Months Ended December 31   2019 Highlights                   Year Ended December 31
2019       2018       % Change                                     2019      2018      % Change
236,531    309,036    (23%)      Throughput (tonnes)               954,886   1,266,831 (25%)
939,511    1,386,505  (32%)      Silver ounces produced            4,018,735 5,522,068 (27%)
9,578      13,117     (27%)      Gold ounces produced              38,907    52,967    (27%)
923,540    1,359,256  (32%)      Payable silver ounces produced    3,951,923 5,417,633 (27%)
9,397      12,821     (27%)      Payable gold ounces produced      38,003    51,826    (27%)
1,705,751  2,435,865  (30%)      Silver equivalent ounces produced 7,131,295 9,759,428 (27%)
1,050,157  1,264,340  (17%)      Silver ounces sold                4,054,652 5,461,197 (26%)
10,803     11,819     (9%)       Gold ounces sold                  39,151    51,318    (24%)

Silver equivalent ounces calculated using 80:1 ratio.

Production Tables for Fourth Quarter, 2019 by Mine

Production   Tonnes   Tonnes  Grade  Grade  Recovery Recovery Silver  Gold
by mine      Produced per day Ag gpt Au gpt Ag  %    Au  %    Oz      Oz
Guanacevi    92,323   1,004   252    0.75   90.0%    91.0%    673,559 2,025
Bolanitos    82,147   893     51     1.81   81.6%    85.5%    109,963 4,088
El Cubo      39,206   426     106    1.16   91.7%    79.8%    122,471 1,167
El Compas    22,855   248     65     4.33   70.2%    72.2%    33,518  2,298
Consolidated 236,531  2,628   140    1.53   88.3%    82.2%    939,511 9,578

gpt = grams per tonne

Production Tables for 2019 by Mine

Production   Tonnes   Tonnes  Grade  Grade  Recovery Recovery Silver    Gold
by mine      Produced per day Ag gpt Au gpt Ag  %    Au  %    Oz        Oz
Guanacevi    322,988  885     234    0.65   90.6%    90.2%    2,202,592 6,087
Bolanitos    316,708  868     73     1.69   84.1%    85.9%    624,942   14,779
El Cubo      245,418  672     155    1.54   88.9%    86.1%    1,086,824 10,464
El Compas    69,772   345     75     4.37   62.0%    77.3%    104,377   7,577
Consolidated 954,886  2,770   149    1.50   88.0%    84.7%    4,018,735 38,907

gpt = grams per tonne

Results are as of commercial production achieved March 16, 2019

Guanacevi

Production increased compared to Q4, 2018 primarily due to higher throughput and higher ore grades. Throughput and ore grades increased year-on-year as a result of the operational changes made to improve mine output, while increased access to the higher grade ores in the Milache and Porvenir Cuatro Extension (P4E) orebodies replaced production from the lower grade Porvenir Norte and Santa Cruz orebodies, which are now closed. Fourth quarter throughput and grades were the highest for the year as the operating improvements implemented in Q2 started to deliver results. Mine development of the Milache and P4E orebodies were on plan but development of the SCS orebody lagged behind plan. Silver production attained the low range of revised 2019 guidance and gold production exceeded the high range of the revised guidance by 1%.

Bolanitos

Production decreased compared to Q4, 2018 primarily due to lower throughput and lower silver and gold grades. Mine output declined year-on-year because the mine plan had to be re-sequenced to allow for blending of high and low arsenic ores, equipment availability issues and mine development fell behind plan which resulted in lack of access to ore. The Company initiated operational measures in Q3, 2019 to improve mine output which should benefit production in 2020. Silver and gold production did not meet revised 2019 guidance, missing by 11% and 1%, respectively.

El Compas

Production has no prior year for comparison but decreased compared to Q3, 2019 primarily due to lower grades, partly offset by slightly higher throughput. The grade variation reflects different parts of the Orito orebody. In Q4, 2019, throughput was on plan, however silver and gold production were below plan. During the first three quarters of commercial production, throughput was 95% of plan, while gold grades exceeded plan by 7% and silver grades were below plan by 10%. Silver recoveries over this period exceeded plan by 8%, while gold recoveries fell short of plan by 3%. Final refining settlements on Q3 concentrate production resulted in lower gold contained than estimated. These adjustments are recognized in Q4 production results and impact reported recoveries. Going forward recoveries are expected to be higher than 80%. Silver and gold production met revised 2019 guidance.

El Cubo

The Company suspended mining operations at the El Cubo underground mine on November 30, 2019 as reserves were exhausted. The mine, plant and tailings facilities are on short term care and maintenance, while management conducts an evaluation of the alternatives including final closure. During October and November, the mine processed 39,206 tonnes grading 106 Ag g/t and 1.16 Au g/t producing 122,780 silver oz and 1,161 gold oz, a significant decrease from both prior year and the previous quarter. Silver and gold production did not meet revised 2019 guidance, missing by 9% and 13%, respectively.

Suspension costs are estimated to be approximately $3.5-4.0 million, primarily expensed in Q4, 2019, the bulk of which is final severance payments for most of the employees. Company management and contract personnel continue to maintain the security of the mine, plant and tailings facilities. Management is evaluating alternatives for the plant and related facilities including moving certain components to other mines or development projects such as Terronera and Parral to reduce their future capital costs. The mining equipment will be relocated to Endeavour's other operating mines, particularly Bolanitos, to help facilitate increasing the mine output to fill the plants to their capacities.

Sustainability Highlights for 2019

Upcoming News

Endeavour expects to release the following news in Q1, 2020:

About Endeavour Silver - Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information:

Galina Meleger, Director, Investor Relations

Toll free: (877) 685-9775

Tel: (604) 640-4804

Fax: (604) 685-9744

Email: [email protected]

Website: www.edrsilver.com

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Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forwardâ?'looking statements and information herein include but are not limited to statements regarding Endeavour's anticipated performance in 2020 including changes in mining operations and production levels, and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" containe d in the Company's most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statem ents or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.