Endeavour Silver Reports Record Production in 2025

Endeavour Silver Corp. announced a remarkable production achievement for the year 2025, yielding a total of 6,486,661 ounces of silver and 37,164 ounces of gold. This impressive output translates to a silver equivalent production of 11.2 million ounces, underscoring the company’s robust operational performance. The fourth quarter of 2025 alone saw production figures of 2,030,206 ounces of silver and 13,785 ounces of gold, contributing to a total silver equivalent production of 3.8 million ounces.

Dan Dickson, the Chief Executive Officer of Endeavour, highlighted the company’s operational excellence and strategic investments as key factors driving this success. He remarked, “Endeavour delivered another year of strong growth in 2025, highlighted by record silver equivalent production and the successful ramp-up at Terronera.” His comments reflect a commitment to creating value for stakeholders while advancing the company’s portfolio and solidifying its financial foundation.

Fourth Quarter 2025 Production Insights

During the fourth quarter of 2025, the consolidated silver production reached 2,030,206 ounces, marking a significant increase of 146% compared to the same quarter in 2024. This surge is attributed to the addition of production from Kolpa and Terronera, as well as a shift towards higher-grade silver production at Bolanitos. In contrast, the Guanacevi mine faced challenges in the previous year due to a trunnion failure, which was resolved by late December 2024.

Excluding the contributions from Kolpa and Terronera, consolidated silver production still showed a 27% increase from the previous year. In gold production, the company achieved 13,785 ounces in Q4 2025, a 52% rise from Q4 2024. This increase was driven by Terronera’s contribution and a 14% boost in gold production at Guanacevi, although it faced a 59% decline at Bolanitos.

Terronera commenced commercial production on October 1, 2025, processing 154,180 tonnes of material during the fourth quarter, resulting in 352,002 ounces of silver and 8,148 ounces of gold. The average grades for this material were 86 grams per tonne of silver and 2.27 grams per tonne of gold, reflecting a strategic focus on lower-grade areas as part of a planned production ramp-up.

Operational Developments and Future Outlook

Looking ahead, Endeavour Silver plans to shift its operations towards higher-grade zones by the second half of 2026, which is anticipated to significantly enhance grade averages. The company is committed to optimizing plant processes to improve metal recoveries while steadily increasing throughput.

In Q4 2025, Guanacevi reported a throughput increase of 78% compared to Q4 2024, despite lower silver and gold grades. The increase was attributed to higher throughput levels, which were in line with the company’s operational plans. Local third-party feed continued to supplement mine production, accounting for 23% of the quarterly throughput.

Kolpa’s throughput for the quarter reached 198,830 tonnes, producing 631,867 ounces of silver, alongside contributions from lead and zinc. While silver and lead grades met management expectations, zinc grades fell short. The company made significant progress towards increasing plant capacity to 2,500 tonnes per day, commissioning a new crushing circuit and initiating the installation of a new ball mill, expected to be completed in Q1 2026.

At Bolanitos, throughput declined by 12% compared to Q4 2024. Silver production increased by 60%, driven by higher silver grades, while gold production saw a significant drop of 59%. The planned sale of Bolanitos is anticipated to close in January 2026.

Endeavour Silver maintains its position as a mid-tier silver producer, with a portfolio of four operating mines in Mexico and Peru, complemented by a strong pipeline of exploration projects. The company is focused on responsible mining practices and organic growth, aiming to solidify its status as a leading silver producer in the industry.

As Endeavour Silver continues to navigate the complexities of the mining sector, it remains committed to delivering long-term value to its stakeholders while adapting to the ever-evolving market landscape.