Sale Of The Non-Core Nzema Mine

GEORGETOWN – Endeavour Mining Corporation reported the sale of its 90% interest in the non-core Nzema Mine in Ghana to BCM International Ltd (BCM), as previously announced. Endeavour received a payment of US$38.5 million upon closing, corresponding to the first two payments less adjustments. Additional deferred payments of up to US$25 million are expected to be received over the course of 2018 and 2019, based upon reaching certain agreed upon milestones related to mine free cash flow generation.