Endeavour Silver Expands Its Property Holdings Near the Bolanitos Mine

VANCOUVER, BC - Endeavour Silver Corp. reported that it has expanded its property holdings near the Company's operating Bolanitos silver mine in the historic silver district of Guanajuato, Guanajuato State, Mexico.
The Company has acquired the Belen II and Ampliacion de Belen properties (192 hectares), located approximately 2.5 kilometers (km) east of Endeavour's recent Lucero silver-gold vein discovery and midway between the Company's operating Bolanitos and Cebada silver-gold mines at Guanajuato. Endeavour has also optioned the Juanita and Tajo de Adjuntas properties (57 hectares), located about 4 km southeast of Lucero at the south end of the La Luz vein system.
The Belen properties cover at least one km of strike length along the little explored Belen silver-gold vein and related parallel veins. These veins received little exploration work historically because they are off the main trends of the Veta Madre and La Luz vein systems, they have minimal surface exposures due to extensive soil cover, and the few surface exposures that existed were quite narrow and low grade.
The Juanita and Tajo properties cover a couple of narrow (up to 0.9 m) unnamed veins that also received minimal historic exploration. Endeavour's sampling of these veins returned only background silver grades but consistently elevated gold grades (up to 0.94 gpt), suggesting that these vein exposures are also above the prospective "bonanza" ore horizon and therefore have high grade mineralization potential.
A Phase 1 exploration program of surface mapping, rock and soil sampling is planned to commence in the third quarter as soon as exploration permits are received. The properties straddle open pastureland with gentle topography and are road accessible so they should be relatively easy to explore and drill.
Endeavour will purchase a 100% interest in the Belen properties by paying 2.5 million Mexican pesos (approximately US$200,000 at current exchange rates) within three months, subject to a 15% advance (already paid) and a 2% NSR royalty on mineral production. Endeavour can also acquire the Juanita and Tajo properties by paying US$50,000 for each over a 3 year period, subject to a 2% NSR royalty.
Bradford Cooke, Chairman and CEO, commented, "These new property acquisitions not only expand our land base at Guanajuato, they hold excellent potential for us to find and develop new high grade silver-gold mineralized zones like our recent discovery at Lucero. Our near-term goal at Guanajuato is to continue boosting our reserves and resources so that management can consider a possible plant expansion to increase production going forward."
The company's address is 301-700 West Pender Street, Vancouver, BC V6C 1G8, 604.685.9775, fax: 604.685.9744.