Endeavour Silver Corp reports third quarter 2025 production of 1,766,926 silver ounces (oz), 7,286 gold oz, and in combination with base metal production, a silver equivalent total production of 3.0 million oz.
“We are pleased to deliver another strong quarter, marked by consistent performance across our portfolio,” said Dan Dickson, Chief Executive Officer. “Our legacy mines continue to provide steady results, Kolpa is meeting expectations and integrating smoothly, and with Terronera nearing commercial production, we are entering the next phase of growth with significant momentum.”
According to the Q3 2025 Production Overview, 1: Guanacev í Maintains Reliable Production. Production of silver and gold was within the planned range with throughput slightly above and grade slightly below plan. 2: Bolañitos Continues to Perform, due to the lower grades in Q3 2025, silver and gold production were both slightly below plan.
While Kolpa Delivers Consistent Results. Throughput and metal production was in-line with historical performance and management expectations, & Terronera Approaching Commercial Production! Average mill recoveries reaching 82.8% for silver and 72.3% for gold during the month of September, while throughput exceeds 1,800 tonnes per day.
Metal Sales and Inventories, that sold 1,762,484 silver ounces and 7,478 gold ounces during the third quarter. A total of 207,512 silver ounces and 600 gold ounces of bullion inventory and 19,381 silver ounces and 175 gold ounces in concentrate inventory were held at September 30, 2025.
Q3 2025 Mine Operations Consolidated silver production was 1,766,926 oz in Q3 2025, in line with plan and 102% higher than Q3 2024, due to the addition of Kolpa, Bolañitos is producing higher grades of silver and lower gold grades in 2025, and lower production in the comparative period at Guanacevi due to the trunnion failure in August 2024.
Excluding Kolpa, consolidated silver production was 34% higher than Q3 2024. Consolidated gold production was 7,286 oz in Q3 2025, 22% lower than Q3 2024. Lower gold production was due to 37% less gold produced at the Bolañitos mine, partially offset by 13% higher gold production at the Guanaceví mine.
In Q3 2025, Guanaceví throughput was 48% higher than Q3 2024 as Guanaceví’s Q3 2024 production was impacted by the August 2024 trunnion failure. Despite silver and gold grades being 15% and 27% lower, respectively, silver production was 33% higher and gold production was 13% higher due to higher mill throughput.
Throughput and gold grades were in line with plan. Supplies of local third-party feed continued to supplement mine production, amounting to 19% of quarterly mill throughput. The higher precious metal prices have increased the available third-party ore purchased from local mines in the Guanacevi district.
Bolañitos’ Q3 2025 mill throughput was 3% lower than in Q3 2024. Silver grades were 39% higher than the comparative period, driving 36% higher silver production, while gold grades were 32% lower, driving 37% lower gold production. Throughput was slightly below plan, silver grades were consistent with plan, while gold grades were below plan. The grade variation is due to mining from different locations in the ore body.
In Q3 2025, Kolpa processed 195,752 tonnes averaging 105 grams of silver per tonne, 3.07% lead, 2.20% zinc and 0.21% copper. During the quarter, Kolpa produced 598,689 oz of silver for silver equivalent production of 1,286,139 oz, including base metals. These results are in line with management expectations.
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