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Endeavour Mining files Houndé PEA, completes in-fill drilling and advances feasibility study

Endeavour Mining files Houndé PEA, completes in-fill drilling and advances 
feasibility study 
VANCOUVER, March 12, 2013 /CNW/ - Endeavour Mining Corporation ("Endeavour" or 
the "Corporation") (TSX:EDV), (ASX:EVR), (OTCQX:EDVMF) announces that the 
technical report for the Preliminary Economic Assessment ("PEA") of the 
Houndé Gold Project in Burkina Faso has been filed on SEDAR (www.sedar.com). 
In addition, in-fill drilling for the Houndé feasibility study demonstrates 
continued excellent continuity of the mineralized zones and has been completed 
ahead of schedule. 
(All amounts in US dollars unless otherwise indicated) 
The Feasibility Study for Houndé commenced in January 2013. Prior to that, 
Endeavour initiated an infill drilling program in October 2012 with the goal 
of converting the in-pit Inferred mineral resources to Measured and Indicated 
mineral resources. The drilling program was concluded in February 2013, with 
41,365 metres in 369 drill holes completed. New highlights of the drilling 
include 73.9 m of 5.26 g/t gold and 38.0 m of 5.93 g/t gold (further results 
are summarized in Table 1 below). The drill results will be incorporated into 
an updated resource model which will be used in the pit design for the 
Feasibility Study. Metallurgical testing of samples sent in January is also 
well underway and geotechnical drilling is completed. 
Neil Woodyer, CEO, stated 
"The positive Houndé PEA released in January showed potential production of 
161,000 ounces per year over ten years at a cost of less than $600 per ounce. 
Early completion of the infill drilling program supports the completion of the 
Feasibility Study by the end of the year. With Agbaou construction on 
schedule, a seamless transition of our mine-building team from Agbaou to 
Houndé is planned in early 2014. Endeavour's gold production is forecast to 
be over 550,000 ounces per year in 2016, including completion of the Tabakoto 
mill expansion in 2013, and production start-ups at Agbaou in Q1 2014 and 
Houndé in 2016." 
Houndé PEA Highlights, on a 100% basis, include: 


    --  Owner operated open pit mining and a potentially economic
        portion (including dilution and mineable extraction) of the
        resource of 28 million tonnes grading 2.0 g/t Au (at 0.91 g/t
        Au cut-off) yielding 1.78 million ounces of contained gold
    --  Estimated potential average annual production of 161,000 gold
        ozs per year over a 10 year mine life, with total life of mine
        production of 1.61 million ozs
    --  An average 91% process recovery at a milling rate of 8,000
        tonnes per day supplying a conventional gravity/CIL circuit
    --  Initial start-up capital is estimated at $303 million with
        sustaining capital estimated at $57 million (excluding VAT and
        import duties)
    --  Total initial funding requirement is estimated at $345 million
        including start-up capital, VAT, import duties and certain
        first year equipment purchases
    --  Forecast life of mine direct cash cost of $563 per ounce
        (excluding royalties)
    --  The project yields, on an after-tax basis:
                                              
                                              
                 At $1,300/oz Gold            At $1,650/oz Gold
                 Price (Base Case)           Price (Sensitivity)

NPV 0%              $505 million                  $920 million

NPV 5%              $288 million                  $584 million

  IRR                      21%                           34%
                                        

The Houndé PEA is available at www.sedar.com or www.endeavourmining.com.

Feasibility Study Activities
    --  The in-fill drilling program was completed about a month ahead
        of schedule and all drill holes assays have been returned. A
        summary of new drill hole intercepts is presented in Table 1
        with new drill hole locations shown in Figure 1.
    --  Modeling of the mineralization, geology and alteration have
        commenced in preparation for an updated resource estimate as
        part of the feasibility study.
    --  Geotechnical drilling has been carried out over the preferred
        sites for the mill, tailings and water storage facilities and
        test pitting is in progress.
    --  Sterilization augur drilling and IP geophysical surveys are in
        progress; RC drilling will be used to evaluate any targets that
        were developed during the sterilization work.
    --  Pit geotechnical drilling is completed and the data has been
        delivered to the geotechnical consultants.
    --  Environmental base line data collection commenced in the
        beginning of the year and will continue for the rest of the
        year.
    --  Sufficient metallurgical results have been obtained to allow
        for the determination of initial mill sizing and power
        requirements.
    --  All studies are on schedule.

Table 1 - Highlighted new drill hole intercepts (see 
http://www.endeavourmining.com/i/pdf/2013-03-12_NR-DR.pdf for complete 
intercept table)
                                                                               
                                                                               
            Mineralized interval
                     (m)
                       To   Width   Estimated
                                         true


                                    width      Au        Au* 
Hole #    From                         (m)   (ppm)   (capped)       Zone   Section 
           92                                                  Vindaloo     48900
 HE-13-17           113.3    21.3        14.9    3.16       3.16       Main 
          7.5                                                  Vindaloo     49875
 HA-12-58              56    48.5        33.6    2.59       2.59       Main 
           42                                                  Vindaloo     51000
 HA-12-61           115.9    73.9        51.1    5.26       5.26         NE 
           29                                                  Vindaloo     48800
 HA-13-01            50.7    21.7        15.1    3.34       3.34       Main 
          287                                                  Vindaloo     49400
 HA-13-04             300      13         8.7    5.95       5.69       Main 
        276.4                                                  Vindaloo     49550
 HA-13-07             305    28.6        18.3    3.57       3.33       Main 
        153.3                                                  Vindaloo     48950
 HA-13-11             166    12.7         9.4    5.99       5.99       Main 
           64                                                  Vindaloo     51125
HD-13-011              85      21        14.5    3.31       3.31         NE 
           74                                                  Vindaloo     51050
HD-13-019              90      16        10.7    9.22       3.72         NE 
           24                                                  Vindaloo     51025
HD-13-021              49      25        16.7    4.61       4.61         NE 
           58                                                  Vindaloo     50975
HD-13-024              74      16        11.7    3.96       3.96         NE 
           87                                                  Vindaloo     50975
HD-13-026             113      26        17.3    3.24       3.24         NE 
           83                                                  Vindaloo     50775
HD-13-036              90       7         4.7   10.66      10.43         NE 
           44                                                  Vindaloo     50650
HD-13-057              57      13         8.9   10.79      10.79         NE 
           36                                                  Vindaloo     50125
HD-13-091              55      19        13.2    3.98       3.72         NE 
           37                                                  Vindaloo     50075
HD-13-092              54      17        11.9     6.5       5.03       Main 
           18                                                  Vindaloo     49950
HD-13-099              66      48        31.4    3.52       3.52       Main 
           18                                                  Vindaloo     49925
HD-13-101              40      22        15.5    5.44       5.44       Main 
           36                                                  Vindaloo     49875
HD-13-102              66      30        20.7    2.83       2.83       Main 
           43                                                  Vindaloo     49825
HD-13-103              71      28        19.8    3.28       3.28       Main 
           15                                                  Vindaloo     49800
HD-13-104              61      46        23.6    3.62       3.62       Main 
           49                                                  Vindaloo     49775
HD-13-105              84      35        24.4    2.23       2.23       Main 
           25                                                  Vindaloo     49750
HD-13-107              76      51        26.6    3.31       3.31       Main 
           51                                                  Vindaloo     49725
HD-13-108              99      48        33.5    3.15       3.15       Main 
         31.0                                                  Vindaloo     49725
HD-13-143            69.0    38.0        26.9    4.69       4.69       Main 
         14.0                                                  Vindaloo     49775
HD-13-144            52.0    38.0        27.0    5.93       5.71       Main 
* Assays are capped at 30 g/t Au 
Qualified Persons 
Don Dudek, P.Geo, Senior Vice-President, Technical Services of Endeavour is a 
Qualified Person within the definition of that term in NI 43-101 and has 
supervised the preparation of the technical information contained in this news 
release. 
Endeavour's RC and core sampling practices and preparation is in accordance 
with standard industry practices, including a rigorous quality control and 
assurance program comprising regular insertion of certified reference 
standards, blanks and duplicates. Sample preparation and fire assays were 
performed by SGS Laboratories in Ouagadougou. 
About Endeavour Mining Corporation 
Endeavour is a gold producer delivering growth. Endeavour owns three gold 
mines producing more than 300,000 ounces per year in Mali, Ghana and Burkina 
Faso that are generating significant operating cash flows to fund further 
expansion. Endeavour's gold production is forecast to be over 550,000 ounces 
per year in 2016, including the Tabakoto mill expansion in 2013, completion of 
construction of Agbaou Gold Mine in Côte d'Ivoire scheduled for Q1 2014 and a 
recently completed PEA that shows potential for 160,000 ozs per year from the 
Houndé Project in Burkina Faso in 2016. 
Endeavour Mining Corporation is listed on the TSX (symbol EDV) and ASX (symbol 
EVR), and also trades on the OTCQX (symbol EDVMF). 
On behalf of Endeavour Mining Corporation 
Neil Woodyer 
Chief Executive Officer 
This news release 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. 
contact: 
Marla Gale Vice President - Investor Relations +1 604 609 6117 
mgale@endeavourmining.com 
UK/Europe: Bobby Morse Buchanan +44 20 7466 5000 bobbym@buchanan.uk.com 
Australia: David Ikin Professional Public Relations +61 8 9388 0944 
david.ikin@ppr.com.au 
Image with caption: "Figure 1: Drill hole locations and highlighted drill 
intercepts shown relative to planned pits at Houndé Project (CNW 
Group/Endeavour Mining Corporation)". Image available at:  
http://photos.newswire.ca/images/download/20130312_C4129_PHOTO_EN_24472.jpg 
SOURCE: Endeavour Mining Corporation 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2013/12/c4129.html 
CO: Endeavour Mining Corporation
ST: British Columbia
NI: MNG FIELD  
-0- Mar/12/2013 12:30 GMT
 
 
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