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

Client
Endeavour Mining.

Project Description
Agbaou has proven and probable reserves of 11.075-million tonnes, 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 tonnes a year of saprolite ore or 1.34-million tonnes 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 Agbaou gold mine has achieved commercial production, following the successful commissioning of the processing plant.

Commercial production at Agbaou was declared, as the process plant achieved an estimated 125% of design throughput and gold recovery exceeding 94% over the prior 30 days. Agbaou is forecast to produce between 85 000 oz and 95 000 oz in its first 12 months of the current eight-year mine life. The value of the gold produced before commercial production will be deducted from capitalised construction costs, rather than being recorded as revenue.

In addition, on January 27 this year, a mining convention was signed with the State of Côte d'Ivoire that included a strong stability clause outlining fiscal conditions, gold royalty rates and a corporate tax holiday.

Key Contracts and Suppliers
Lycopodium Minerals (engineering, procurement and construction management), 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.