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Vancouver,
Canada -- September 8, 2008 - Endeavour Silver Corp. (EDR: TSX, EJD:
DBFrankfurt and EXK: AMEX) announces that exploration drilling on its
Bolanitos properties at the Guanajuato Mines project in Guanajuato State,
Mexico has encountered four new zones of high grade silver-gold mineralization.
The best results to date are in drill hole SJS-1, which intersected 374
grams per tonne silver and 3.14 gpt gold over 9.50 m (15.9 oz per ton
silver equivalent over 31.2 feet), including 1147 gpt silver and 0.84 gpt
gold over 1.90 m (34.8 opT silver equivalent over 6.2 ft).
Bradford Cooke, Chairman and CEO, stated, "We are thrilled to see such
positive initial drill results from the Bolanitos exploration drilling
program. The Bolanitos vein system extends for several kilometres on
Endeavour's properties and the potential for additional high grade
silver-gold discoveries appears to be very good. We now have two drills
working around the clock at Bolanitos."
High grade silver-gold mineralization has been intersected in six drill
holes on four separate veins to the south of Endeavour's operating
Bolanitos mine at Guanajuato, as follows:
Bolanitos Drill Results
|
Hole
|
Vein
|
From
|
Core Length
|
True Width
|
Silver
|
Gold
|
|
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
|
|
|
|
|
|
|
BUV-2
|
Santa Maria Vein
|
71.80
|
1.20
|
0.42
|
544
|
0.52
|
BUV-4
|
Santa Maria Vein
|
75.35
|
2.00
|
1.73
|
345
|
0.48
|
MV-1
|
Periquitas Vein
|
68.95
|
1.80
|
1.15
|
312
|
2.03
|
SJS-1
|
Unnamed Vein
|
184.95
|
1.00
|
0.57
|
661
|
0.07
|
|
Unnamed Vein
|
191.60
|
0.40
|
0.23
|
647
|
0.13
|
|
San Jos� Vein Zone
|
197.45
|
1.90
|
0.84
|
1147
|
1.33
|
|
FW San Jos� Vein
|
203.95
|
1.40
|
0.73
|
315
|
0.39
|
|
FW San Jos� Vein
|
226.00
|
9.50
|
3.62
|
374
|
3.14
|
|
Including
|
229.05
|
0.60
|
0.21
|
1160
|
3.97
|
|
Including
|
234.45
|
0.60
|
0.39
|
917
|
15.6
|
BSV-1
|
FW Bola�itos Vein
|
201.20
|
2.65
|
2.03
|
126
|
1.36
|
BSV-2
|
FW Bola�itos Vein
|
252.05
|
3.45
|
2.27
|
178
|
0.48
|
|
|
|
|
|
|
|
Silver-Equivalents
based on 55:1 Ag:Au ratio.
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Endeavour acquired the Guanajuato Mines project in May, 2007 and commenced
systematic drilling of the numerous veins on the property late last year in
order to boost the silver-gold resources and increase mine production to
the Bolanitos plant. In February, 2008, Endeavour announced its first new
silver-gold discovery in the district at the "3785"zone on the
Veta Madre to the north of Endeavour's Cebada mine.
Endeavour is currently mining ore from the Bolanitos and Santa Maria veins
at the operating Bolanitos mine, part of the Guanajuato Mines project. The
new high grade drill intercepts are close to existing mine workings and
they can be readily accessed for mining by extending the existing ramps a
short distance.
The SJS-1 drill hole (see
Bolanitos drill hole location map and longitudinal sections) is
important because it intersected multiple, parallel, high grade silver-gold
mineralized veins and represents Endeavour's first new discovery within the
San Jose vein which is a splay of the Bolanitos vein system that hosts the
Bolanitos mine. The San Jose vein intercepts are also close to existing
mine workings and they can simply be extended in order to access this high
grade area for mining.
The Periquitas vein is a new blind discovery, not originally recognized at
surface, but subsequent surface trenching has since located the vein in
sub-crop and sample assays from surface trenches are pending. The
mineralized zone intersected in the Periquitas vein is shallow and
development is possible if Endeavour drives a short new ramp from surface.
Further drilling is planned for each of these four discovery areas. With
2,400 m of diamond drilling already completed, Endeavour has now commenced
an additional 2,100 m of core drilling to follow up on these new
discoveries through the rest of the year.
Barry Devlin, M.Sc., P.Geo. Vice President Exploration is the Qualified
Person who reviewed this news release and supervised the surface drilling
and sampling programs at the Parral, Guanacevi and Guanajuato Projects. A
Quality Control sampling program of reference standards, blanks and
duplicates has been instituted to monitor the integrity of all assay
results. All core samples are split at the Parral, Guanajuato, or Guanacevi
field offices and shipped to ALS-Chemex Labs, where they are dried,
crushed, split and 50 gram pulp samples are prepared for analysis. Gold and
silver are determined by fire assay with an atomic absorption (AA) finish
and lead, zinc and copper are determined by AA.
Endeavour Silver Corp. (EDR: TSX, EXK: AMEX, EJD: DBFrankfurt) is a
small-cap silver mining company focused on the growth of its silver
production, reserves and resources in Mexico. The expansion programs now
underway at Endeavour's two operating mines, Guanacevi in Durango State and
Guanajuato in Guanajuato state, coupled with the Company's acquisition and
exploration programs in Mexico should enable Endeavour to join the ranks of
top primary silver producers worldwide.
ENDEAVOUR SILVER CORP.
Per:
/s/ "Bradford J. Cooke"
Bradford Cooke
Chairman and CEO
For more information, please contact Hugh Clarke Toll free: 877-685-9775,
tel: (604) 685-9775, fax: (604) 685-9744, email hugh@edrsilver.com or visit our
website, www.edrsilver.com.
The TSX Exchange has neither approved nor disapproved the contents of this
news release.
CAUTIONARY DISCLAIMER -- FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its
operations constitute "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of
1995. All statements that are not historical facts, including without
limitation statements regarding future estimates, plans, objectives,
assumptions or expectations of future performance, are
"forward-looking statements". We caution you that such
"forward looking statements" involve known and unknown risks and
uncertainties that could cause actual results and future events to differ
materially from those anticipated in such statements. Such risks and
uncertainties include fluctuations in precious metal prices, unpredictable
results of exploration activities, uncertainties inherent in the estimation
of mineral reserves and resources, fluctuations in the costs of goods and
services, problems associated with exploration and mining operations,
changes in legal, social or political conditions in the jurisdictions where
the Company operates, lack of appropriate funding and other risk factors,
as discussed in the Company's filings with Canadian and American Securities
regulatory agencies. Resource and production goals and forecasts may be
based on data insufficient to support them. Godfrey Walton, P.Geo. and/or
Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required
by NI 43-101. The Company expressly disclaims any obligation to update any
forward-looking statements. We seek safe harbour.
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