Drill Results at Terronera Extend High-Grade Mineralization

Research evidence excerpt

Drill Results at Terronera Extend High-Grade Mineralization

June 18, 2026 | 09:41 ET~

Endeavour Silver Silver

Kevin O'Halloran, CFA Analyst

kevin.ohalloran@bmo.com (416) 278-7023

EDR-TSX Rating Price: Jun-17 Target Total Rtn

Outperform $12.49 $21.50 72% Jacob Pinter Associate

jacob.pinter@bmo.com (437) 230-2798

Legal Entity: BMO Nesbitt Burns Inc.

Drill Results at Terronera Extend High-Grade

Mineralization

Bottom Line:

This morning, Endeavour Silver reported drill results for the Terronera mine in Jalisco,

Mexico, highlighted by 2,607 g/t AgEq over 1.06m true width. Since 2025, Endeavour 25 2YR Price Volume Chart

has completed 43 drill holes on the La Luz system and 10 drill holes on the Terronera

vein, extending mineralization along strike and to depth. Grade at Terronera is expected

to rise in H2/26, and management noted that mining of the La Luz deposit is expected 15

to begin in 2027. 10

5 987654321Key Points 0 0

Dec Jun Dec Jun

Terronera structure continues to return high-grade results. Endeavour reported LHS: Price (C$) / RHS: Volume (mm) Source: FactSet

multiple high-grade intercepts within the Terronera system, supporting the continuity

and quality of mineralization. The 10 holes (1,904m) drilled at Terronera since 2025 infill

and extend mineralized vein continuity along strike and to depth. Highlights included:

• 435 g/t AgEq over 8.11m (282 g/t Ag, 1.80 g/t Au);

• 686 g/t AgEq over 5.32m (150 g/t Ag, 6.30 g/t Au).

La Luz results highlight exploration potential beyond the current mine plan. Since

2025, Endeavour has drilled 45 holes (7,015m) at the La Luz system, several of which

are below the published resource, extending mineralization along strike and to depth.

The drilling also targeted definition of the historically mined areas at La Luz to better