Endeavour Silver Corp. (NYSE:EXK)(TSX:EDR) announced today its financial results
for the year ended December 31, 2013, based on the Company's ninth consecutive
year of growing silver and gold production. Endeavour owns and operates three
underground silver-gold mines in Mexico: the Guanacevi mine in Durango state,
and the Bolanitos and El Cubo mines in Guanajuato state.


The complete financial statements and Management's Discussion & Analysis can be
viewed on the Company's website, on SEDAR at www.sedar.com and EDGAR at
www.sec.gov. All amounts are reported in US$.


Highlights of Fiscal 2013 (Compared to Fiscal 2012)

Financial



--  Net loss of $89.5 million ($0.90 per share) compared to net earnings of
    $42.1 million ($0.45 per share) 
--  Adjusted earnings(1)decreased 72% to $11.1 million ($0.11 per share)
    compared to $40.2 million ($0.43 per share) 
--  EBITDA(1)increased 10% to $100.0 million 
--  Cash flow from operations before working capital changes decreased 2% to
    $81.6 million 
--  Mine operating cash flow(1)increased 2% to $116.9 million 
--  Revenue increased 33% to $276.8 million 
--  Realized silver price fell 25% to $23.10 per ounce (oz) sold (consistent
    with 2013 average spot price) 
--  Realized gold price fell 18% to $1,375 per oz sold (consistent with 2013
    average spot price) 
--  Cash costs(1)rose 8% to $7.92 per oz silver payable (net of gold
    credits) 
--  All-in sustaining costs fell 21% to $18.31 per oz silver payable (net of
    gold credits) 
--  Cash and equivalents rose 88% to $35 million at year-end compared to $19
    million 



Operations



--  Silver production increased 52% to 6,813,069 oz 
--  Gold production jumped 95% to 75,578 oz 
--  Silver equivalent production escalated 67% to 11.3 million oz (at a 60:1
    silver:gold ratio) 
--  Bullion inventory at year-end included 51,000 oz silver and 198 oz gold 
--  Concentrate inventory available for sale at year-end was nil 
--  Successfully completed the El Cubo plant reconstruction on time and
    budget 
--  Plant throughputs, ore grades and metal recoveries were higher at all
    three mines 



Highlights of Fourth Quarter 2013 (Compared to Fourth Quarter 2012)

Financial



--  Net loss of $115.8 million ($1.16 per share) compared to net earnings of
    $14.8 million ($0.15 per share) 
--  Adjusted loss of $12.1 million ($0.12 per share) compared to adjusted
    earnings of $12.9 million ($0.13 per share) 
--  EBITDA(1) fell 18% to $23.0 million 
--  Cash flow from operations before working capital changes decreased 12%
    to $18.0 million 
--  Revenue increased 2% to $67.9 million on 2,155,326 silver oz sold and
    18,960 gold oz sold 
--  Realized silver price fell 38% to $20.52 per oz sold 
--  Realized gold price fell 28% to $1,246 per oz sold 
--  Cash costs(1) fell 39% to $7.46 per oz silver payable (net of gold
    credits) 
--  El Cubo cash costs(1) fell 83% to $6.65 per oz silver payable (net of
    gold credits) 
--  All-in sustaining costs fell 49% to $14.24 per oz silver payable (net of
    gold credits) 



Operations



--  Silver production up 56% to 1,931,717 oz 
--  Gold production up 37% to 17,686 oz 
--  Silver equivalent production up 49% to 3.0 million oz (at a 60:1
    silver:gold ratio) 
--  Plant throughputs, ore grades and metal recoveries were higher at all
    three mines 



(1) Adjusted earnings, mine operating cash flow, EBITDA and cash costs are
non-IFRS measures. Please refer to the definitions in the Company's Management
Discussion & Analysis. 


Endeavour CEO Bradford Cooke stated: "We delivered another record year of silver
and gold production and revenue in 2013. In spite of achieving higher
throughput, grades and recoveries at all three mines, our earnings were hit by
lower metal prices and reduced carrying values at El Cubo and Guanacevi plus a
deferred tax liability related to the new mining taxes in Mexico.


"Nonetheless, significant progress was made in 2013, particularly in the El Cubo
mine performance and operating costs. The single digit cash costs are what
management originally modelled long term for El Cubo when it acquired the mine
in 2012. The operating turn-around at El Cubo still has two quarters to
completion but the transformation thus far has been very satisfying."


Financial Results (Consolidated Statement of Operations appended below)

For the year ended December 31, 2013, the Company generated revenue totaling
$276.8 million (2012 - $208.1 million). During the year, the Company sold
7,151,963 oz silver and 81,119 oz gold at realized prices of $23.10 and $1,375
per oz respectively, compared to sales of 4,815,073 oz silver and 35,167 oz gold
at realized prices of $30.99 and $1,674 per oz respectively in 2012.


After cost of sales of $219.9 million (2012 - $130.1 million), mine operating
earnings amounted to $56.9 million (2012 - $78.0 million) from mining and
milling operations in Mexico.


Excluding depreciation and depletion of $53.6 million (2012 - $29.7 million),
stock-based compensation of $0.5 million (2012- $0.5 million), and a write-down
of inventory of $5.9 million (2012 - $6.2), mine operating cash flow before
taxes was $116.9 million (2012 - $114.4 million) in 2013. Operating loss was
$102.9 million (2012 - earnings of $53.6 million) driven by impairment charges
of $95.8 million on the Guanacevi and El Cubo mines and a $39.2 million
impairment of El Cubo goodwill.


At December 31, 2013, the Company determined there were several indicators of
potential impairment of its producing mineral properties which include the
sustained decline in precious metal prices, the Mexican tax reform and a
reduction of the Guanacevi estimated reserves and resources. The net after-tax
impairment totaled $104.3 million. As a result, net earnings fell from $42.1
million to a loss of $89.5 million in 2013.


Net earnings also included a mark-to-market derivative liabilities gain related
to share purchase warrants issued in 2009 denominated in Canadian dollars, while
the Company's functional currency is the US dollar. Under IFRS, these warrants
are classified and accounted for as financial liability at fair market value
with adjustments recognized through net earnings. The appreciation of these
warrants resulted in a derivative liability gain of $3.8 million (2012 - loss of
$1.9 million).


Excluding the net impairment charges and the mark-to market derivative
liabilities gain, adjusted earnings were $11.1 million ($0.11 per share)
compared to $40.2 million ($0.43 per share) in 2012. The drop in precious metal
prices was the primary reason for the decrease in the Company's earnings year
over year.


In December 2013, the Mexican President passed tax reform legislation that took
effect January 1, 2014. The tax reform includes, among other items, an increase
of the Mexican corporate tax rate from 28% to 30%, removal of the flat tax
regime, a Special Mining Duty of 7.5% on taxable mine revenue, less allowable
deductions excluding interest and capital depreciation, and an 0.5%
Environmental Tax on gold and silver revenue. The tax reform is expected to have
a material impact on the Company's future earnings and cash flow.


Consolidated operating costs increased 5% to $97 per tonne due to rising wage
pressures, significant restructuring costs, additional use of contractors and
higher refining costs, partly offset by the additional economies of scale with
the higher output. Cash cost per ounce, net of by-product credits, which is a
non- IFRS measure and a standard of the Silver Institute, rose 8% to $7.92 per
ounce of payable silver compared to $7.33 per ounce in 2012. The lower
by-product credit because of the lower gold price was the primary contributor to
the higher cash costs, offset by higher consolidated grades and recoveries. All-
in sustaining costs fell 21% as mine development and exploration expenditures
were curtailed in response to falling precious metal prices and these costs were
allocated over more ounces of silver production.


The Company invested a total of $88.6 million in property, plant and equipment
during 2013. Of this, $48.5 million was invested at El Cubo, $21.4 million at
Bolanitos, and $15.9 million at Guanacevi. The El Cubo plant refurbishment was
completed on time and budget, while the 10.6 kilometres of accelerated mine
development should allow the El Cubo mine output to rise to the 1,550 tonnes per
day plant capacity by year-end. The Guanacevi and Bolanitos capital investments
continued to focus primarily on sustaining mine development and tailings dam
expansions.


2014 Outlook

Endeavour plans to hold silver production relatively steady in the range of
6.5-6.9 million oz in 2014 compared to the 6.8 million oz silver produced in
2013. Gold production is expected to be in the 65,000-69,000 oz range and silver
equivalent production is anticipated to be 10.4-11.0 million oz (at a
silver:gold ratio of 60:1) as shown in the table below.




                                                 Ag Eq. Prod.     Tonnes/Day
Mine            Ag Prod. (M oz) Au Prod. (K oz)        (K oz)          (tpd)
----------------------------------------------------------------------------
Guanacevi               2.6-2.7         7.0-8.0       3.0-3.2    1,200-1,300
Bolanitos               2.2-2.4       36.0-38.0       4.4-4.7    1,450-1,600
El Cubo                 1.7-1.8       22.0-23.0       3.0-3.1    1,200-1,550
----------------------------------------------------------------------------
Total                   6.5-6.9       65.0-69.0     10.4-11.0    3,850-4,450
----------------------------------------------------------------------------



In 2014, Bolanitos production will pull back to the 1,600 tpd plant capacity as
management has elected not to continue extra mine production for processing at
the El Cubo plant as it did in 2013. At Bolanitos, production will continue
primarily from the Daniela, Karina, Lana and Bolanitos veins and mine
development will open up the La Luz- Asuncion deposit.


In 2013, El Cubo production will expand to fill the 1,550 tpd plant to capacity
through a steady ramp-up of mine output as mine development opens up the new
Villalpando-Asuncion deposit. At El Cubo, the remaining 2014 production will
continue to come primarily from the Dolores, Villalpando, San Nicolas and Santa
Cecilia veins.


Bolanitos and El Cubo are both producing silver-gold concentrates for sale under
one year contracts to smelters because their attractive terms offer lower costs
and higher profit margins compared to producing dore bars from the El Cubo leach
plant at the current low metal prices.


At Guanacevi, production will continue primarily from the Porvenir Norte,
Porvenir Cuatro and Santa Cruz veins. Underground development of the new Milache
discovery is awaiting permitting for development to start in 2014 and production
to start in 2015.


Operating Costs

Direct operating costs are forecast at $95 per tonne, and consolidated
by-product cash costs of silver production (net of gold credits) are anticipated
to be in the $9-$10 per oz range in 2014. The increase from 2013 is primarily
driven by the lower gold price and reduced gold production. Consolidated co-
product cash costs of silver and gold production are anticipated to be around
$13-14 and $800-850 per oz respectively.


All-in by-product sustaining costs of production (including sustaining capex,
exploration and G&A costs) are forecasted to be approximately $19 per oz of
silver produced.


Capital Budget

Endeavour plans to invest $43.9 million on capital projects in 2014, including
$34.6 million on mine development, infrastructure, equipment and exploration
plus $9.3 million on plant upgrades, infrastructure, equipment and buildings.
The Company has budgeted $20.9 million at El Cubo, $9.9 million at Bolanitos,
$11.7 million at Guanacevi and $1.4 million for general capital, all of which
should be funded by the Company's anticipated 2014 operating cash flow.


Because of Endeavour's reserve depletion last year, management will look for
opportunities to allocate additional funds for accelerated mine development to
convert measured and indicated resources into proven and probable reserves in
2014.


Exploration Expenditures

In 2014, Endeavour plans to spend $10.7 million on exploration. A total of
54,000 metres of drilling in about 120 holes are budgeted to test multiple
exploration targets in addition to the underground mine exploration drilling. As
in previous years, management will look for opportunities to stretch and also
augment this budget in order to fuel accelerated resource expansion.


The Company will focus on brownfields exploration around the three operating
mines in order to replenish reserves and grow resources and mine lives, as well
as expanding and permitting the emerging new high grade silver-gold discovery in
the Terronera vein on the San Sebastian property in Jalisco State.


Conference Call

A conference call to discuss the results will be held Tuesday, March 11 at
8:00am PST (11:00am EST). To participate in the conference call, please dial the
following:




Toll-free in Canada and the US: 1-800-319-4610                              
Local Vancouver: 604-638-5340                                               
Outside of Canada and the US: 1-604-638-5340                                



No pass-code is necessary to participate in the conference call.

A replay of the conference call will be available by dialing 1-800-319-6413 in
Canada and the US (toll- free) or 1-604-638-9010 outside of Canada and the US.
The required pass-code is 4890 followed by the # sign. The replay will also be
available on the Company's website at www.edrsilver.com.


All shareholders can receive a hard copy of the Company's complete audited
financial statements free of charge upon request. To receive this material in
hard copy, please contact Meghan Brown, Director Investor Relations at
604-640-4804 or toll free 1-877-685-9775.


About Endeavour - Endeavour is a mid-tier silver mining company focused on
growing its profits, production, reserves and resources in Mexico. Since
start-up in 2004, Endeavour has posted nine consecutive years of accretive
growth of its silver mining operations. The organic expansion programs now
underway at Endeavour's three silver-gold mines in Mexico combined with its
strategic acquisition and exploration programs should facilitate Endeavour's
goal to become a premier senior silver producer.


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 forward-looking statements and information herein
include but are not limited to statements regarding Endeavour's anticipated
performance in 2014 and the timing and results of exploration drill programs.
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, performance or achievements of Endeavour and its operations to be
materially different from those expressed or implied by such statements. Such
factors include, among others, changes in national and local governments,
legislation, taxation, controls, regulations and political or economic
developments in Canada and Mexico; 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; fluctuations in the prices
of commodities and their impact on reserves and resources as well as those
factors described in the section "risk factors" contained 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 statements or
information. Accordingly, readers should not place undue reliance on
forward-looking statements or information.




ENDEAVOUR SILVER CORP.                                                      
COMPARATIVE HIGHLIGHTS                                                      
                                                                            
  Three Months Ended Dec. 31                        Year Ended Dec. 31      
                                   Q4 2013                                  
                           %     Highlights                               % 
      2013       2012 Change                         2013       2012 Change 
----------------------------------------------------------------------------
                                 Production                                 
----------------------------------------------------------------------------
                              Silver ounces                                 
 1,931,717  1,235,026     56%  produced         6,813,069  4,485,476     52%
                              Gold ounces                                   
    17,686     12,917     37%  produced            75,578     38,687     95%
                              Payable silver                                
 1,855,108  1,222,705     52%  ounces produced  6,593,805  4,440,619     48%
                              Payable gold                                  
    16,612     12,800     30%  ounces produced     72,562     38,311     89%
                              Silver                                        
                               equivalent                                   
                               ounces produced                              
 2,992,877  2,010,046     49%  (1)             11,347,749  6,806,696     67%
                              Cash costs per                                
                               silver                                       
      7.46      12.25    -39%  ounce(2)(3)           7.92       7.33      8%
                              Total production                              
                               costs per                                    
     14.59      18.88    -23%  ounce(2)(4)          15.69      13.80     14%
                              All-in                                        
                               sustaining                                   
                               costs per                                    
     14.24      28.06    -49%  ounce(2)(5)          18.31      23.06    -21%
   379,480    362,779      5% Processed tonnes  1,148,894  1,065,689      8%
                              Direct                                        
                               production                                   
                               costs per                                    
     90.72      90.39      0%  tonne(2)(6)          97.00      92.74      5%
                              Silver co-                                    
                               product cash                                 
     11.45      18.82    -39%  costs (7)            13.19      14.87    -11%
                              Gold co-product                               
    695.47     987.70    -30%  cash costs (7)      785.01     807.67     -3%
----------------------------------------------------------------------------
                                 Financial                                  
----------------------------------------------------------------------------
                              Revenue ($                                    
      67.9       66.7      2%  millions)            276.8      208.1     33%
                              Silver ounces                                 
 2,155,326  1,345,832     60%  sold             7,151,963  4,815,073     49%
    18,960     13,037     45% Gold ounces sold     81,119     35,167    131%
                              Realized silver                               
     20.52      32.87    -38%  price per ounce      23.10      30.99    -25%
                              Realized gold                                 
     1,246      1,725    -28%  price per ounce      1,375      1,674    -18%
                              Net earnings                                  
                               (loss) ($                                    
    (115.8)      14.8   -881%  millions             (89.5)      42.1   -312%
                              Adjusted net                                  
                               earnings (8) ($                              
     (12.1)      12.9   -194%  millions)             11.1       40.2    -72%
                              Mine operating                                
                               earnings ($                                  
       9.9       17.9    -45%  millions)             56.9       78.0    -27%
                              Mine operating                                
                               cash flow(9) ($                              
      26.4       34.8    -24%  millions)            116.9      114.4      2%
                              Operating cash                                
                               flow before                                  
                               working capital                              
      18.0       20.4    -12%  changes (10)          81.6       82.9     -2%
                              Earnings before                               
      23.0       28.2    -18%  ITDA (11)            100.0       90.5     10%
                              Working capital                               
      32.2       50.9    -37%  ($ millions)          32.2       50.9    -37%
----------------------------------------------------------------------------
Shareholders                                                                
----------------------------------------------------------------------------
                              Earnings (loss)                               
                               per share -                                  
     (1.16)      0.15   -100%  basic                (0.90)      0.45   -300%
                              Adjusted                                      
                               earnings per                                 
                               share - basic                                
     (0.12)      0.13   -193%  (8)                   0.11       0.43    -74%
                              Operating cash                                
                               flow before                                  
                               working capital                              
                               changes per                                  
      0.18       0.20    -12%  share (10)            0.82       0.89     -8%
                              Weighted average                              
                               shares                                       
99,720,704 99,539,282      0%  outstanding     99,770,293 93,266,038      7%
----------------------------------------------------------------------------
                                                                            
                                                                            
ENDEAVOUR SILVER CORP.                                                      
CONSOLIDATED STATEMENTS OF CASH FLOWS                                       
(expressed in thousands of U.S. dollars)                                    
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                         Years Ended        
                                                  December 31, December 31, 
                                                          2013         2012 
----------------------------------------------------------------------------
                                                                            
Operating activities                                                        
Net earnings (loss) for the year                    $  (89,465)  $   42,117 
Items not affecting cash:                                                   
  Share-based compensation                               3,544        4,724 
  Impairment of non-current assets                      95,815            - 
  Impairment of goodwill                                39,245            - 
  Depreciation and depletion                            53,898       29,952 
  Deferred income tax provision                        (20,464)       2,135 
  Unrealized foreign exchange loss (gain)                  682       (1,208)
  Mark-to-market loss (gain) on derivative                                  
   liability                                            (3,750)      (1,928)
  Mark-to-market loss (gain) on contingent                                  
   liability                                            (8,398)         589 
  Finance costs                                          1,513          484 
  Write down of inventory to net realizable value        5,874        6,221 
  Loss (gain) on marketable securities                   3,091         (158)
Net changes in non-cash working capital                 (5,041)      (6,907)
----------------------------------------------------------------------------
Cash from operating activities                          76,544       76,021 
----------------------------------------------------------------------------
                                                                            
Investing activites                                                         
  Property, plant and equipment expenditures           (88,518)     (66,236)
  Acquisition of Mexgold Resources Inc.                      -     (100,000)
  Investment in short term investments                    (130)     (28,267)
  Proceeds from sale of short term investments           5,328       50,373 
  Investment in long term deposits                         (65)        (190)
----------------------------------------------------------------------------
Cash used in investing activities                      (83,385)    (144,320)
----------------------------------------------------------------------------
                                                                            
Financing activities                                                        
  Proceeds from revolving credit facility               30,000        9,000 
  Repayment of revolving credit facility                (6,000)           - 
  Debt issuance costs                                     (144)        (732)
  Interest paid                                         (1,101)        (381)
  Common shares issued on exercise of options and                           
   warrants                                                528        2,591 
  Share issuance costs                                       -         (204)
----------------------------------------------------------------------------
Cash from financing activites                           23,283       10,274 
----------------------------------------------------------------------------
                                                                            
Effect of exchange rate change on cash and cash                             
 equivalents                                               (55)       1,208 
Increase (decrease) in cash and cash equivalents        16,442      (58,025)
Cash and cash equivalents, beginning of year            18,617       75,434 
----------------------------------------------------------------------------
Cash and cash equivalents, end of year              $   35,004   $   18,617 
----------------------------------------------------------------------------



This statement should be read in conjunction with the audited consolidated
financial statements for the year ended December 31, 2013 and the related notes
contained therein.




ENDEAVOUR SILVER CORP.                                                      
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)                      
(expressed in thousands of US dollars, except for shares and per share      
amounts)                                                                    
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                       Years Ended          
                                                December 31,   December 31, 
                                                        2013           2012 
----------------------------------------------------------------------------
                                                                            
Revenue                                         $    276,783   $    208,079 
Cost of sales:                                                              
  Direct production costs                            158,582         91,800 
  Royalties                                            1,328          1,866 
  Share-based compensation                               515            545 
  Depreciation and depletion                          53,569         29,694 
  Write down of inventory to net realizable                                 
   value                                               5,874          6,221 
----------------------------------------------------------------------------
                                                     219,868        130,126 
                                                                            
Mine operating earnings                               56,915         77,953 
                                                                            
Expenses:                                                                   
  Exploration                                         13,168         11,185 
  Impairment of non-current assets                    95,815              - 
  Impairment of goodwill                              39,245              - 
  General and administrative                          11,605         13,136 
----------------------------------------------------------------------------
                                                     159,833         24,321 
                                                                            
Operating earnings (loss)                           (102,918)        53,632 
                                                                            
Mark-to-market loss/(gain) on derivative                                    
 liabilities                                          (3,750)        (1,928)
Mark-to-market loss/(gain) on contingent                                    
 liability                                            (8,398)           589 
Finance costs                                          1,513            484 
                                                                            
Other income (expense):                                                     
  Foreign exchange                                    (2,597)         3,447 
  Investment and other income                         (1,079)         2,152 
----------------------------------------------------------------------------
                                                      (3,676)         5,599 
                                                                            
Earnings (loss) before income taxes                  (95,959)        60,086 
                                                                            
Income tax expense:                                                         
  Current income tax expense                          13,970         15,834 
  Deferred income tax expense (recovery)             (20,464)         2,135 
----------------------------------------------------------------------------
                                                      (6,494)        17,969 
----------------------------------------------------------------------------
Net earnings (loss) for the year                     (89,465)        42,117 
----------------------------------------------------------------------------
Other comprehensive income (loss), net of tax                               
  Net change in fair value of available for                                 
   sale investments                                    1,250         (3,631)
----------------------------------------------------------------------------
                                                                            
Comprehensive income (loss) for the year        $    (88,215)  $     38,486 
----------------------------------------------------------------------------
                                                                            
Basic earnings (loss) per share based on net                                
 earnings                                       $      (0.90)  $       0.45 
----------------------------------------------------------------------------
Diluted earnings (loss) per share based on net                              
 earnings                                       $      (0.90)  $       0.42 
----------------------------------------------------------------------------
                                                                            
Basic weighted average number of shares                                     
 outstanding                                      99,720,704     93,266,038 
----------------------------------------------------------------------------
Diluted weighted average number of shares                                   
 outstanding                                      99,720,704     95,728,031 
----------------------------------------------------------------------------



This statement should be read in conjunction with the audited consolidated
financial statements for the year ended December 31, 2013 and the related notes
contained therein.




ENDEAVOUR SILVER CORP.                                                      
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION                               
(expressed in thousands of US dollars)                                      
----------------------------------------------------------------------------
                                                  December 31, December 31, 
                                                          2013         2012 
----------------------------------------------------------------------------
ASSETS                                                                      
Current assets                                                              
  Cash and cash equivalents                       $     35,004 $     18,617 
  Investments                                            1,463        8,520 
  Accounts receivable                                   23,749       20,526 
  Inventories                                           23,647       40,797 
  Prepaid expenses                                       3,341        9,940 
----------------------------------------------------------------------------
Total current assets                                    87,204       98,400 
Non-current deposits                                     1,186        1,451 
Mineral property, plant and equipment                  278,533      338,431 
Goodwill                                                     -       39,245 
----------------------------------------------------------------------------
Total assets                                      $    366,923 $    477,527 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
LIABILITIES AND SHAREHOLDERS' EQUITY                                        
Current liabilities                                                         
  Accounts payable and accrued liabilities        $     17,221 $     34,631 
  Income taxes payable                                   3,259        3,854 
  Derivative liabilities                                 1,491            - 
  Revolving credit facility                             33,000        9,000 
----------------------------------------------------------------------------
Total current liabilities                               54,971       47,485 
                                                                            
Provision for reclamation and rehabilitation             6,652        6,496 
Derivative liabilities                                       -        5,336 
Contingent liability                                        99        8,497 
Deferred income tax liability                           49,053       69,517 
----------------------------------------------------------------------------
Total liabilities                                      110,775      137,331 
----------------------------------------------------------------------------
                                                                            
Shareholders' equity                                                        
Common shares, unlimited shares authorized, no par                          
 value, issued and outstanding 99,784,409 shares                            
 (Dec 31, 2012 - 99,541,522 shares)                    358,408      357,296 
Contributed surplus                                     14,836       12,828 
Accumulated comprehensive income (loss)                 (4,081)      (5,331)
Retained earnings (deficit)                           (113,015)     (24,597)
----------------------------------------------------------------------------
Total shareholders' equity                             256,148      340,196 
----------------------------------------------------------------------------
Total liabilities and shareholders' equity        $    366,923 $    477,527 
----------------------------------------------------------------------------



This statement should be read in conjunction with the audited consolidated
financial statements for the year ended December 31, 2013 and the related notes
contained therein.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Endeavour Silver Corp.
Meghan Brown
Director Investor Relations
Toll free: 1-877-685-9775 Tel: 604-640-4804
604-685-9744 (FAX)
mbrown@edrsilver.com
www.edrsilver.com

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