Name and Location
Agbaou gold project, Côte d’Ivoire.

Client
Endeavour Mining.

Project Description
Agbaou has proven and probable reserves of 11.075-million tons, with a grade of 2.54 g/t of gold. The project will involve the development of an openpit mine and a gold plant designed to treat 1.6-million tons a year of saprolite ore or 1.34-million tons a year of bedrock ore. The plant design incorporates a conventional gravity and carbon-in-leach circuit for a recovery rate of 92.5%. Average gold production of 103 000 oz/y over an eight-year mine life is expected.

Value
A total of $159-million, which includes construction capital costs of $121-million and preproduction mining costs, working capital and contingencies of $38-million.

Duration
Gold production is expected in the first quarter of 2014.

Latest Developments
The project is 52% complete.

About 62% of the $159-million construction cost budget has been committed, with $45-million spent.

All major contracts, including the engineering, procurement and construction management (EPCM) contract with Lycopodium and the mining contract with BCM International, have been finalised and are within the cost estimates of the June 2012 feasibility study.

Major component deliveries for the semiautogenous and ball mills are on schedule.

Camp construction is nearly complete, with about 900 workers on site.

Preparations for connection to the power grid are well advanced, with transformer delivery expected in July 2013 and the overhead power-line contractor mobilised. Construction of the high-voltage substation started on March 1.

The 8 km access road has been completed within the June 2012 feasibility estimate.

The tailings storage facility and water-storage dam construction are proceeding well, with embankments being raised, and grading and compacting continuing.

Endeavour has also begun recruiting key operations personnel.

Key Contracts and Suppliers
Lycopodium Minerals (EPCM), BCM International (mining contract) and SRK (mineral resource and reserve estimate).

On Budget and on Time?
None stated.

Contact Details for Project Information
Endeavour Mining VP: investor relations Marla Gayle, tel +1 604 609 6117 or
email investor@endeavourmining.com.
Lycopodium Minerals, tel +61 8 6210 5222 or fax +61 8 6210 5201.
SRK, tel +27 21 659 3060 or fax +27 21 685 7105.
BCM International, tel +233 30 7010300, fax +233 302 777452 or email info@bcmgh.com.