Endeavour Mining Management Presentation

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INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILTY

Endeavour Mining

Management Presentation

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Disclaimer & Forward Looking Statements

This presentation contains “forward-looking statements” including but not limited to, statements with respect to Endeavour’s plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of

forward-looking terminology such as “expects”, “expected”,

“budgeted”, “forecasts” and “anticipates”. Forward-looking

statements, while based on management’s best estimates and

assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful

integration of acquisitions; risks related

to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible

variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic

developments in countries in which Endeavour operates.

Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on

forward-looking statements. Please refer to Endeavour’s most recent

Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.

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Company Overview

•

A Canadian-based intermediate gold producer

–

4 producing mines across

4 West African countries

–

Fully permitted Houndé project

•

Leading West African producer

–

2015E production of ~500,000 ozs

–

AISC/oz in mid-$900 range

•

Focused on

–

Increasing operating cash flow and profits

–

Replacing and adding reserves & resources

–

Using cash flow to repay debt

–

Running a successful low-cost business

EDV EVR EDVMF

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Investment Case

Track record of reducing costs

and generating cash flow

at current gold prices

Demonstrated exploration

successes that have increased

reserves and extended mine lives

Experienced management team

with successful operating and

project delivery

Significant growth potential

from attractive low-cost

Houndé project

Attractive valuation

compared to

fundamental value

and peers

Market Cap: US$200M Enterprise Value: US$417M AISC/oz has declined from

$1,137 in 2013 to under $1,000 in Q3+Q4 2014

2014 Exploration additions of 870,000 ozs at low cost

of $33/oz at mines and $13/oz at Houndé

Updated Houndé Feb 2015 +34% reserves to 2.1 Mozs

IRR of 31% at $1,250 Extended credit facility to

March 2020, ~3.5 years to first required repayment

Built Agbaou Mine under-budget and ahead of schedule

Valuation gap from peers created during 2013 gold price decline – market yet to recognize

Endeavour’s growth and accomplishments Exceeded 2014 production

guidance and achieved AISC/oz cost guidance

2P Reserves increased to 4.5Mozs (Dec 2014) from

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Leading Intermediate Producer in West Africa

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

Based on Company reports. AngloGold Ashanti and IAMGOLD presented on an attributable ounce basis for JV interests. West African gold production only.

Seniors

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With Near-term Production Growth

80,000 ozs

+700,000 ozs

Youga:

1st_{acquisition, great performer,}

now a mature mine

Nzema:

2nd_{acquisition, recapitalized}

Tabakoto:

3rd_{acquisition, mill expanded,}

converted to owner mining, improved mill feed

Agbaou:

FS in 2012, construction and start up in 2013, low-cost operations

Houndé:

FS in 2013, fully permitted, potential mid-2017 production

Expect to finance from cash flow, corporate credit facility, and leasing of mining fleet

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Growing Mineral Reserves

MINERAL RESERVES & RESOURCES1

As of: 2P Reserves Resources (M&I)

Dec 31, 2014 4.5Mozs at 2.3 g/t 7.9Mozs at 2.0 g/t

Dec 31, 2013 4.1Mozs at 2.3 g/t 7.2Mozs at 1.9 g/t

Dec 31, 2012 3.0Mozs at 2.5 g/t 7.8Mozs at 1.9 g/t

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

MINERAL RESERVES – Mining Depletion & Reserve Additions

Reserve additions of 2.3Mozs

over 2013 & 2014

During 2014:

•

$2.1M at Agbaou, exploration

additions almost all oxides

•

$9.2M at Tabakoto, drilling

below development is

successfully upgrading Inferred

•

$6.7M at Houndé, 34% increase

in reserves at only $13 per

discovered ounce

2015 program: $15M focused at

Agbaou and Tabakoto

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2015 AISC Guidance and Margin at $1,200/oz

•

2015 guidance of 475,000 to 500,000 ozs

at AISC/oz of $930 to $980

•

At $1,200 gold, approx. $100 million of free

cash flow

•

Significant declines in fuel costs and FX

rates lead to savings

–

Fuel cost saving of ~$60/oz at

Tabakoto

–

FX savings of ~$50/oz (all production)

–

Combined 2015 cost savings of $30

to $35 million

2015 AISC Margin and Free Cashflow (US$ million, forecast)

Revenue $585

Less: AISC Costs ($930-$980/oz) 465

All-in sustaining margin (mid-guidance) 120

Add: 2015 fuel and FX cost savings 30 to 35

All-in sustaining margin (adjusted) 150 to 155

Non-sustaining capital:

Projects include completion of Kofi C open pit access (Q1 2015) and Cement Rock Fill (CRF) plant for Segala (Q1 2015)

5

Non-sustaining exploration 15

Free cash flow (before tax & financing) $130 to 135

Less: Interest costs -22

Less: Tax -10

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AISC/ounce – Cost trend versus Medium Producer AISC

Low Operating and Corporate Costs

* Mid-point of 2015 AISC/oz guidance of $930-$980, including potential FX and fuel cost savings estimated at $30-$35 million

1_{Source: BMO Capital Markets}_{– Gold Pages, 30 March 2015 – Medium Producers (production in 2014 >200kozs)} 2_{Based on company reports; 12 months ended December 31, 2014}

CORPORATE EFFICIENCY RATIO2

Peer 2014 G&A and share-based compensation (US$ million) % of 2014 gross revenue $ per 2014 ounce sold ($/Au-eq oz) Centamin $12 2.5% $31 Endeavour $23 3.9% $49 Acacia $41 4.4% $58 New Gold $33 4.5% $56 Centerra $35 4.6% $56 Golden Star $16 5.0% $63 Oceanagold $35 6.1% $79 Teranga $17 6.3% $80 SEMAFO $21 7.1% $90 Aurico $26 8.9% $114 Alamos $16 9.6% $122 Dundee Prec. $32 10.0% $136 Perseus $23 10.5% $122 B2Gold $54 11.1% $140 Primero $37 13.4% $167

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

Running a low cost business by reducing AISC/oz

and efficient Corporate G&A cost structures

$980

2015E Guidance $930

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Commitment to Strong Capitalization

•

$300 million drawn on $350 million

credit facility (“RCF”)

•

Maintained significant covenant headroom,

even during Agbaou construction

•

The RCF with cash flow from operations

and mining fleet equipment leasing,

provides expectation to internally fund

construction of Houndé with a start date in

early 2016

•

The leverage ratio forecast continues to

improve at $1,100 gold price, if we delay

Houndé construction

•

Debt maturity is long-dated to March 2020

with no repayment for ~3.5 years

•

Regardless of strong debt position, we will

reduce debt during 2015 from free cash

flow

Note: Actual Leverage Ratio based on bank compliance certificate values, which include adjustments such that they may not agree with ratios calculated from Financial Statement values. Forecast Leverage Ratio based on Management projections.

Agbaou construction

period

Incl. Houndé and $1,250/oz (Q1/2016 construction)

Without Houndé and $1,100/oz Potential

Houndé construction

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Agbaou Mine – A construction and operating success story

•

Demonstrated strong, sustained performance in 2014

−

Produced 146,757 ozs

−

Cash cost of $523/oz

−

AISC of $621/oz

−

Strong cash flow generator

•

Successful resource definition program

–

2014 replaced mined ounces and extended life

–

Expanded West pit and identified opportunity to

southwest

–

Easy-milling oxides now 50% of reserves

–

Successful 2014 exploration continues in 2015

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Tabakoto Mine – Investment phase completed

•

Three sources of lower cost ore

•

New Kofi C open pit commenced

production in January 2015

•

Tabakoto plant at sustainable levels above

4,000 tonnes per day

•

Demonstrating potential for steady

replacement of reserves

−

2014 net gain in 2P reserves

−

Drilling below development upgrading

Inferred

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Developing the Houndé Project

•

34% increase in reserves in Dec 2014

•

Received mining permit in Feb 2015

•

Updated mine plan and economics:

–

2P Reserve

1

of 2.1 million ozs at 2.1 g/t

–

240,000 ozs/yr for first 3 years with 10

year mine life

–

Upfront capital of $325M including

owner mining fleet ($55 million)

–

At $1,250/oz gold price:

•

AISC/oz of $714

•

IRR 31.4% (after tax)

•

NPV

_5%

$359 million (after tax)

1_{See Appendix for details on Houndé Reserves}

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

Houndé ranks in the top tier of

West African projects

Houndé Updated 2014 Mine Plan Yaramoko (Roxgold) Karma (True Gold) Asanko Phase 1 (Asanko) New Liberty (Aureus) Otjikoto1 (B2Gold) Bombore (Orezone) Esaase (Asanko) Mako3 (Toro) Fekola (B2Gold) Yanfolila (Hummingbird) Kiaka2 (B2Gold) Houndé PEA Houndé FS 0% 10% 20% 30% 40% 50% 60% 70% P roj ec t IRR

Sourced from Company reports with Project IRRs at $1,300 and after-tax as most commonly disclosed with exceptions noted as:

1_{Otjikoto IRR at $1,350/oz and pre-tax} 2 _{Kiaka IRR $1,372/oz and pre-tax} 3_{Toro IRR is pre-tax}

In Construction Production Permitted Feasibility Study PEA/PFS Reserves Resources Peer Projects

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Current Valuation and Analyst Views

Analyst coverage sourced from Bloomberg. Peel Hunt sourced by author. This list is provided for informational purposes only. The opinions, estimates, forecasts or any analysis do not represent opinions, forecasts or analyses of Endeavour Mining Corporation or its Management. Endeavour Mining Corporation does not by its reference above imply any endorsement of or concurrence with such opinions, estimates or forecasts. AUD/CAD conversion rate of 1.00

Analyst Coverage (March 31, 2015)

BMO Capital Markets Andrew Breichmanas C$0.75

Canaccord Genuity Rahul Paul C$1.50

CIBC World Markets Leon Esterhuizen C$1.70

Clarus Securities Nana Sangmuah C$1.75

GMP Securities Brock Salier C$1.30

Haywood Securities Tara Hassan C$1.30

Pareto Securities John McClintock C$1.19

Patersons Securities Matthew Trivett A$0.88

Peel Hunt Michael Stoner C$0.87

Raymond James Chris Thompson C$1.00

UBS Jo Battershill A$1.10

CONSENSUS PRICE OBJECTIVE C$1.21

Potential for +100% investment gains

Enterprise Value

Share price (April 1, 2015) C$0.61

Shares outstanding 413.1

Market capitalization1_(US$M) ₂₀₀

Less: Cash2 ₆₂

Plus: Long-term debt2 ₃₀₀

Plus: Minority interest2 ₍₂₁₎

Enterprise value (US$M) 417

2014 EBITDA2 _(US$M) ₁₄₃

2014 AISC Margin2 _(US$M) ₁₁₇

EV / 2014 EBITDA 2.9 times

Peer average3 _{7.2 times}

EV / 2P reserve ounce $93

Peer average3 _$152

EV / resource ounce (M&I) $53

Peer average3 _$131

1_{CAD-USD exchange rate of 1.26}

2_{Cash, long-term debt, minority interest and adjusted EBITDA based on FY December 31, 2014 financial statements} 3_{Source: BMO Capital Markets}_{– Gold Pages, 30 March 2015 – Medium Producers (production in 2014 >200kozs)}

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•

Produce 475,000 to 500,000 ounces

•

Maintain AISC/oz below $1,000

•

To be profitable

•

Use free cash flow to reduce debt

•

To extend mine life through exploration

success

Summary – 5 key objectives for 2015

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

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Appendices

•

2015 Production and AISC/oz Guidance by Mine

•

Share Price Since 2013 and Subsequent Accomplishments

•

Board of Directors

•

Management

•

Endeavour’s Operating Mines – Summary Table

•

FY 2014 Cash Cost Detail by Mine

•

Resources and Reserves

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2015 Production and AISC/oz Guidance by Mine

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

Production Guidance Range (ozs)

AISC/oz

Guidance Range ($/oz)

Agbaou 150,000 - 155,000 $690 - $740

Nzema 110,000 - 115,000 $1,000 - $1,050

Tabakoto 155,000 - 165,000 $950 - $1,000

Youga 60,000 - 65,000 $975 - $1,025

475,000 - 500,000 $833 - $933

Plus: Corporate G&A (~$18 million) $37

Plus: Exploration (sustaining) & Other (~$5 million) $10

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Share Price Since 2013 and Subsequent Accomplishments

2013

Today

# of mines 3 and building

Agbaou mine 4

Houndé project

FS in progress, unpermitted

Fully permitted; 2P reserve 2.1 Mozs; 10 year mine life

Production 324,275 ozs 475 – 500,000 ozs

AISC/oz (US$) $1,137 < $1,000 in Q3+Q4 2014 2P Reserves 3.0Mozs at 2.5 g/t1 _{4.5Mozs at 2.3 g/t}2

M&I Resources 7.8Mozs at 1.9 g/t1 _{7.9Mozs at 2.0 g/t}2

Long-term debt

$300M drawn, July 2018 maturity, first repay Jan 2016

$300M drawn, March 2020 maturity,

first repay Sept 2018 Cash flow Funding major

capex programs

2015 non-sustaining capex only $20m; free cash to reduce debt Share price $0.56 (June 28 2013) $0.58

Issued shares 412.8 million 413.1 million

• Significant valuation gap created during 2013 gold price decline

• Since June 2013, Endeavour’s share price highly correlated to the market (S&P TSX Global Gold Index shown)

• Market yet to recognize Endeavour’s growth and accomplishments Market data sourced from Bloomberg LP, last data point: March 31, 2015

$1,700/oz $1,140/oz $1,183/oz $2.05 $0.38 $0.58 Gold price EDV share price $1.07 Near-term objective

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Board of Directors

Michael Beckett, Chairman

Former Chairman, Ashanti Goldfields and former MD, Consolidated Gold Fields

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

Frank Giustra

Founder: Wheaton River, Silver Wheaton and Pacific Rubiales; Former CEO, Yorkton Securities

Wayne McManus

Accounting professor: CPA, CFA, LLM in taxation

Neil Woodyer, CEO

Founded Endeavour in 1988; former mining banker/advisor

Ian Cockerill

Extensive African mining experience, Former CEO, Gold Fields

Ian Henderson

Former Managing Director and natural resources fund manager, JP Morgan

Miguel Rodriguez

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Management

Neil Woodyer, CEO

• Founder of Endeavour, 30+ years experience in natural resources • Project financed and advised on the acquisition of over 30 mines

Attie Roux, COO

• Built / commissioned Nzema processing plant • 34 years as metallurgist at AngloGold

Ota Hally, CFO

• Chartered Accountant and Chartered Financial Analyst

• Previous experience with Pan American Silver

Doug Bowlby, EVP Corporate Development

• Chartered Financial Analyst with corporate finance and M&A background • 19 years experience with mining transactions & growth plans

Doug Reddy, SVP Business Development

• Geologist with 30+ years exploration and mining experience • Manages relationships with analysts and institutional investors Jeremy Langford, EVP Construction Services

• Mechanical engineer with 10+ years experience • Built Agbaou, Nzema and Sabodala gold mines

Richard Thomas, EVP Technical Services

• 20+ years experience in open pit and underground mining • Previously VP Mining for Continental Africa for AngloGold

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Endeavour’s Operating Mines – Summary Table

Agbaou Gold Mine

(85% Endeavour, 10% Côte d’Ivoire, 5% SODEMI)

Nzema Gold Mine

(90% Endeavour, 10% Ghana)

Tabakoto Gold Mine (80% Endeavour, 20% Mali) (Kofi: 90% Endeavour, 10% Mali)

Youga Gold Mine

(90% Endeavour; 10% Burkina Faso) Resources (incl. Reserves, 100%) M&I: 13.9Mt @ 2.5 g/t for 1.109Moz Inferred: 2.1Mt @ 2.3 g/t for 0.154Moz M&I: 36.7Mt @ 1.3 g/t for 1.590Moz Inferred: 7.6Mt @ 1.3 g/t for 0.311Moz M&I: 19.0Mt @ 3.0 g/t for 1.839Moz Inferred: 17.6Mt @ 2.8 g/t for 1.582Moz

Youga & Ouaré

M&I: 17.0Mt @ 1.5g/t for 0.812Moz Inferred: 2.8Mt @ 1.6g/t for 0.141Moz

Reserves (100%) 11.5Mt @ 2.5 g/t for 0.926Moz 7.3Mt @ 2.1 g/t for 0.496Moz 6.7Mt @ 3.7 g/t for 0.807Moz

(~65% U/G @ 3.9 g/t) 3.5Mt @ 1.8g/t for 0.202Moz

Strip Ratio 8 to 1 (2015); 11 to 1 LOM 6.2 to 1 (2015); 5.6 to 1 LOM

Tabakoto & Segala U/G: N/A Kofi B: 6 to 1 LOM

Kofi C: 10 to 1 LOM

4.0 to 1 (2015); 4.2 to 1 LOM

Processing Rate Up to 2.2 Mtpa Gravity/CIL plant

-oxides; 1.6 Mtpa fresh ore 1.6 to 2.1 Mtpa Gravity/CIL plant 1.4 Mtpa Gravity/CIL plant 1.0 Mtpa Gravity/CIL plant

Met. Recovery Achieving 97% at present; 92.5%

design 91% to 75% depending on ore type 92% - 95% 94%

Production 2014 – 146,757 ozs 2015e – 150,000 to 155,000 ozs 2013 – 103,464 ozs 2014 – 115,129 ozs 2015e – 110,000 to 115,000 ozs 2012 – 110,301 ozs 2013 – 125,231 ozs 2014 – 127,323 ozs 2015e – 155,000 to 165,000 ozs 2013 – 89,448 ozs 2014 – 76,561 ozs 2015e – 60,000 to 65,000 ozs Cash Costs ($/oz) 2014 – $523 2013 - $918 2014 - $880 2013 - $981 2014 - $1,172 2013 - $732 2014 - $742 All-in Sustaining Costs (Mine Level) 2014 – $621/oz 2015e $690 - $740/oz 2014 - $1,036/oz 2015e $1,000 - $1,050/oz 2014 – $1,335/oz 2015e $950 - $1,000/oz 2014 - $824/oz 2015e $975 - $1,025/oz Expected Mine

Life 7 years from current Reserves 5 years from current Reserves 5 years from current Reserves

2 years at current grade (potential for 5 years with satellite deposits and Ouaré)

Royalty 3% - 5% sliding scale 5% (+1% 3rd_{party at Adamus pits)} _6% _{3% - 5% sliding scale}

Corporate Tax 25% (5 year corporate tax holiday) 35% 25% 17.5%

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FY 2014 Cash Cost Detail by Mine

Agbaou Nzema Tabakoto Youga Total

Mining Physicals

Total tonnes mined - Open pit 000t 19,560 8,769 7,046 4,993 Total ore tonnes - Open pit 000t 2,741 1,366 638 1,161 Total ore tonnes - Underground 000t - - 807 -Total tonnes milled 000t 2,241 1,587 1,485 991

Gold sold ozs 143,7722 114,044 127,357 76,582 461,757

Unit cost analysis

Mining costs - Open pit1 $/t mined 2.61 4.56 4.55 4.98 Mining costs - Underground1 $/t ore - - 57.90 -Processing and maintenance $/t milled 7.66 17.90 30.11 24.24 Site G&A $/t milled 3.84 7.87 17.62 10.88

Cash cost details

Mining costs - Open pit $000s $46,395 $34,821 $32,035 $24,887 $138,138 Mining costs - Underground $000s - - 40,956 - 40,956 Processing and maintenance $000s 17,175 28,410 44,696 24,022 114,303 Site G&A $000s 8,601 12,491 26,164 10,783 58,039 Purchased ore at Nzema $000s - 24,409 - - 24,409 Inventory adjustments $000s 2,999 231 5,376 (2,882) 5,725 Cash costs for ounces sold $000s $75,170 $100,362 $149,227 $56,810 $381,570

Royalties $000s $6,399 $8,014 $9,665 $4,229 $28,307 Sustaining capital $000s $7,650 $9,795 $11,078 $2,057 $30,580 Cash cost per ounce sold $/oz $523 $880 $1,172 $742 $826 Mine-level AISC per ounce sold $/oz $621 $1,036 $1,335 $824 $954

Other costs used to derive unit mining cost

Capitalized mining costs $000s $4,609 $5,147 $5,759

-Numbers may not add due to rounding

1

Includes capitalized mining costs and partial year of lower cost owner-mining

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Mineral Reserves as at December 31, 2014

Mine / Project

Reserves

Proven Probable Proven & Probable Gold

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Price

Mt g/t k Ozs Mt g/t k Ozs Mt g/t k Ozs US$/oz

Nzema1_{- Total} _5.2 _2.0 ₃₃₉ _2.1 _2.3 ₁₅₆ _7.3 _2.1 ₄₉₆ _{US$ 1,350}

Attributable - 90% 305 141 446

Youga2_{- Total} _2.5 _1.7 ₁₃₉ _1.0 _2.0 ₆₃ _3.5 _1.8 ₂₀₂ _{US$ 1,250}

Agbaou3_{- Total} _2.7 _2.7 ₂₃₆ _8.8 _2.4 ₆₉₀ _11.5 _2.5 ₉₂₆ _{US$ 1,350}

Tabakoto 4_{– Total} _2.3 _3.3 ₂₄₉ _4.4 _4.0 ₅₅₈ _6.7 _3.7 ₈₀₇ _{US$ 1,350}

Attributable – 80%-90% 202 470 672

Houndé5 _{– Total} _3.7 _2.5 ₂₉₅ _26.9 _2.1 _1,780 _30.6 _2.1 _2,073 _{US$ 1,300}

Attributable - 90% 266 1,602 1,866

Total 1,258 3,247 4,503

Total Attributable 1,098 2,856 3,952

Note: Percent attributable at Tabakoto–Kofi is weighted by contribution to reserves.

Notes to Mineral Resources and Reserves available at www.endeavourmining.com/s/reserves.asp

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Mineral Resources as at December 31, 2014

Mine / Project

Resources (including reserves) Lower

cutoff Measured Indicated Measured & Indicated Inferred

Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces

Mt Au g/t koz Mt Au g/t koz Mt Au g/t koz Mt Au g/t koz Au g/t

Nzema1_{- Total} _23.7 _1.4 _1,040 _13.0 _1.3 ₅₅₀ _36.7 _1.3 _1,590 _7.6 _1.3 ₃₁₁ _0.5 Attributable - 90% 936 495 1,431 280 Youga2_{- Total} _7.3 _1.3 ₃₁₇ _9.7 _1.6 ₄₉₄ _17.0 _1.5 ₈₁₂ _2.8 _1.6 ₁₄₁ _0.5 Attributable - 90% 285 444 730 127 Agbaou3_{- Total} _2.9 _2.8 ₂₅₅ _11.1 _2.4 ₈₅₄ _13.9 _2.5 _1,109 _2.1 _2.3 ₁₅₄ _0.5 Attributable - 85% 216 726 942 131 Tabakoto4_{- Total} _5.6 _2.9 ₅₂₉ _13.4 _3.0 _1,310 _19.0 _3.0 _1,839 _17.6 _2.8 _1,582 _{0.5 to 1.5} Attributable – 80%-90% 433 1,110 1,543 1,315 Houndé5_{- Total} _3.7 _2.6 ₃₀₅ _34.1 _2.1 _2,242 _37.8 _2.1 _2,546 _3.2 _2.6 ₂₇₃ _0.5 Attributable - 90% 274 2,017 2,291 246 Total 2,446 5,449 7,896 2,462 Total Attributable 2,146 4,792 6,938 2,099

Note: Percent attributable at Tabakoto–Kofi is weighted by contribution to resources.

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Company Profile

Capitalization Summary (March 31, 2015)

Shares in Issue 413,143,668

Options 30,796,868

Warrants none

Fully Diluted 443,940,536

Share Price (March 31, 2015)

Recent Share Price CDN$0.58

AUD$0.60

Market Cap CDN$240 million

Av. daily shares in March 2015

Canada TSX:EDV Australia ASX:EVR USA OTCQX:EDVMF 2.9 million 0.3 million 0.1 million Shareholder Base Institutions 60-65% Retail 25-35% Insiders/Management 3%

Balance Sheet (December 31, 2014)

Cash position $62 million

Drawn down from $350 million debt facility $300 million

INTERMEDIATE GOLD PRODUCER DELIVERING PROFITABILITY

Top Shareholders (million of shares)1

Van Eck Associates 31.9

Ruffer Investment Management 18.4

Fidelity Management 8.3

Sprott Asset Management 7.5

Frank Giustra, Non-executive Director 2 _6.8

JP Morgan Asset Management 5.3

Dimensional Fund Advisors 1.9

Wells Fargo Management 1.1

AGF Precious Metals Fund 1.1

Neil Woodyer, CEO and Director3 _1.0

1 _{Source from Bloomberg LP, as of March 31, 2015}

2 _{Includes 1,500,000 Endeavour shares held by Radcliffe Foundation, a charitable foundation} 3 _{Ashdell Ltd., a company beneficially owned by a Woodyer family trust holds 2.8 million} Endeavour shares

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[email protected]

+1 604 609 6114

Doug Reddy, SVP Business Development

Neil Woodyer, CEO

[email protected]

+377 97 98 7130