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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001199073-10-000142.txt : 20100304
<SEC-HEADER>0001199073-10-000142.hdr.sgml : 20100304
<ACCEPTANCE-DATETIME>20100303200006
ACCESSION NUMBER:		0001199073-10-000142
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100303
FILED AS OF DATE:		20100304
DATE AS OF CHANGE:		20100303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENDEAVOUR SILVER CORP
		CENTRAL INDEX KEY:			0001277866
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33153
		FILM NUMBER:		10655146

	BUSINESS ADDRESS:	
		STREET 1:		700 WEST PENDER STREET
		STREET 2:		SUITE 301
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1G8
		BUSINESS PHONE:		604-685-9775

	MAIL ADDRESS:	
		STREET 1:		700 WEST PENDER STREET
		STREET 2:		SUITE 301
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1G8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ENDEAVOUR GOLD CORP
		DATE OF NAME CHANGE:	20040128
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d6k.htm
<DESCRIPTION>ENDEAVOUR SILVER CORP. FORM 6-K
<TEXT>
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20549</font></font></div>
      <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">___________________</div>
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6-K&#160;</font></font></font></div>
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OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</font></div>
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THE SECURITIES EXCHANGE </font></div>
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<tr bgcolor="#ffffff">
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                  <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For
      the month of&#160;March 2010</font></div>
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      File Number 001-33153</font></div>
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        <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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CORP</font>.</font></font></font></div>
        <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
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of registrant's name into English)</font></div>
      </div>
      <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
        <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
          <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
          <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Suite
301 - 700 West Pender Street</font></div>
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British Columbia, Canada, V6C 1G8</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
            <hr style="COLOR: black" align="left" noshade size="1" width="100%">
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of principal executive offices)</font></div>&#160;</div>
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          <div style="TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.</font></div>
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<tr bgcolor="#ffffff">
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                      <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Form
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                      <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></div>
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      40-F</font></div>
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                      <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings">x</font></font></div>
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by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): <font style="DISPLAY: inline; FONT-SIZE: 10pt" face="Wingdings">o</font></font>

          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): <font style="DISPLAY: inline;" face="Wingdings">o</font></font></div>
          <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
          <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </font></div>
          <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        </div>
        <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
            <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="29%" style="FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr bgcolor="#ffffff">
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                    <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Yes&#160;&#160;&#160;&#160;&#160;
      </font></div>
                  </td>
                  <td width="18%">
                    <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o </font></font></div>
                  </td>
                  <td width="22%">
                    <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;No</font></div>
                  </td>
                  <td width="32%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-FAMILY: wingdings">x</font></font></td>
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          </div>
        </div>
        <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If "Yes"
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________ </font></div>
        <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        <div>
          <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
          <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
        </div>
        <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="TEXT-ALIGN: center; WIDTH: 100%">
              <hr style="COLOR: gray" align="left" noshade size="2" width="100%">
            </div>
          </div>
          <div id="HDR" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
            <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
              <div align="left">
                <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-DECORATION: underline">EXHIBIT
INDEX</font></div>
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </div>
            </div>
            <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
              <div style="LINE-HEIGHT: 1.1" align="left">
                <div align="center">
                  <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="TEXT-INDENT: 0pt; FONT-FAMILY: times new roman; MARGIN-LEFT: 0pt; FONT-SIZE: 9pt; MARGIN-RIGHT: 0pt; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr bgcolor="white">
                        <td width="9%" style="BORDER-BOTTOM: black 2px solid">
                          <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit</font></div>
                        </td>
                        <td width="3%" style="BORDER-BOTTOM: #ffffff solid"><font style="FONT-SIZE: 10pt">&#160;</font></td>
                        <td width="88%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description&#160;</font></td>
                      </tr><tr bgcolor="white">
                        <td width="9%"><font size="2" style="FONT-SIZE: 10pt">&#160;</font></td>
                        <td width="3%"><font style="FONT-SIZE: 10pt">&#160;</font></td>
                        <td width="88%"><font style="FONT-SIZE: 10pt">&#160;</font></td>
                      </tr><tr bgcolor="white">
                        <td valign="top" width="9%">
                          <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-SIZE: 10pt"><font size="2" style="FONT-SIZE: 10pt">99.1</font></font></div>
                        </td>
                        <td width="3%"><font style="FONT-SIZE: 10pt">&#160;</font></td>
                        <td width="88%">
                          <div style="LINE-HEIGHT: 1.2; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
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                                      <div style="LINE-HEIGHT: 1.2; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
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                                                                                                                                <div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font></font></font></font></font></font>
                                                                                                                                  <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Endeavour
      Silver Grows Its Reserves/Resources for 5</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; FONT-WEIGHT: normal">th</font><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">
      Consecutive Year, </font></font><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">2009
      Silver Reserves Up 113%, Gold Reserves Up 87% Compared to
      2008</font></font></font></font></font></div>
                                                                                                                                </div>
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                        </td>
                      </tr></table>
                </div>
              </div>
            </div>
          </div>
          <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
          <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
          <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">
            <div style="TEXT-INDENT: 0pt; DISPLAY: block">
              <div>
                <hr style="COLOR: gray" align="left" noshade size="2" width="100%">
              </div>
            </div>
            <div style="TEXT-INDENT: 0pt; DISPLAY: block">
              <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </div>
            <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; TEXT-DECORATION: underline">SIGNATURES</font></div>
          </div>
        </div>
      </div>
      <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized. </font></div>
      <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
        <table bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 9pt; FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
            </tr><tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
              <td colspan="2">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 11pt; FONT-WEIGHT: bold">Endeavour
      Silver Corp.</font></div>
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(Registrant)</font></div>
                </div>
              </td>
            </tr><tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;<br>&#160;</font></td>
            </tr><tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">Date:&#160;March
      3,&#160;2010&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic"><font style="FONT-SIZE: 10pt">/s/&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Bradford
      Cooke</font></font></font></font></td>
            </tr><tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font size="1" style="FONT-SIZE: 10pt">&#160;</font></td>
              <td align="left">
                <hr style="COLOR: black" align="left" noshade size="1" width="90%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Name:&#160;
      <font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Bradford
      Cooke</font></font></div>
                </div>
              </td>
            </tr><tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font></td>
              <td>
                <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block">
                    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Title:&#160;&#160;&#160;
      <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Chairman
      &amp;
CEO</font></font></div>
                  </div>
                </div>
              </td>
            </tr></table>
      </div>
    </div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.htm
<DESCRIPTION>ENDEAVOUR SILVER GROWS ITS RESERVES/RESOURCES FOR 5TH CONSECUTIVE YEAR, 2009 SILVER RESERVES UP 113%, GOLD RESERVES UP 87% COMPARED TO 2008
<TEXT>
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    <title>ex99_1.htm</title>
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<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font>

    <div>
      <hr style="COLOR: black" align="left" noshade size="1" width="100%">
    </div>
    <div style="TEXT-ALIGN: right"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Exhibits 99.1</font></div>
    <div style="TEXT-ALIGN: right">&#160;</div>
    <div style="TEXT-ALIGN: right">&#160;</div>
    <div style="TEXT-ALIGN: center"><img src="logo.jpg" alt="GRAPHIC"></div>
    <div style="TEXT-ALIGN: left">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">NEWS
RELEASE</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Endeavour Silver Grows Its
Reserves/Resources for 5</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; TEXT-DECORATION: underline">th</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"> Consecutive
Year,</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">2009 Silver Reserves Up
113%, Gold Reserves Up 87% Compared to 2008</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Vancouver, Canada
&#8211; March 3, 2010 - </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Endeavour Silver Corp.
</font>(TSX:<font style="DISPLAY: inline; FONT-WEIGHT: bold">EDR</font>)(TSX:<font style="DISPLAY: inline; FONT-WEIGHT: bold">EDR.WT</font>)(NYSE Amex:<font style="DISPLAY: inline; FONT-WEIGHT: bold">EXK</font>)(DBFrankfurt:<font style="DISPLAY: inline; FONT-WEIGHT: bold">EJD</font>) announces that for the
fifth consecutive year, the Company has grown its combined reserves and
resources in Mexico.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Endeavour
released today its updated NI 43-101 reserve and resource estimates to December
31, 2009 (see table below) for its two producing silver mines (the Guanacevi
Mines in Durango State and the Guanajuato Mines in Guanajuato State) and one
exploration project (the Parral project in Chihuahua State) in
Mexico.&#160;&#160;The reserve and resource highlights are as
follows:</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">2009 Reserve/Resource
Highlights</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Silver Proven and Probable
      Reserves up 113% to 16.6 million ounces (oz)</font>;&#160;&#160;Guanacevi
      15.0 million oz and Guanajuato 1.6 million
oz</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Gold Proven and Probable
      Reserves up 87% to 44,000 oz</font>;&#160;&#160;Guanacevi 22,500 oz and
      Guanajuato 21,500 oz</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Silver Equivalent Proven and
      Probable Reserves up 103% to 19.4 million oz</font>;&#160;&#160;Guanacevi
      16.5 million oz and Guanajuato 2.9 million
oz</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Silver Indicated Resources up
      21% to 23.6 million oz</font>;&#160;&#160;Guanacevi 17.8 million oz,
      Guanajuato 4.3 million oz and Parral 1.5 million
  oz</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Gold Indicated Resources up 35%
      to 119,100 oz</font>;&#160;&#160;Guanacevi 37,100 oz, Guanajuato 38,200 oz
      and Parral 43,800 oz</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Silver Equivalent Indicated
      Resources up 20% to 31.3 million oz</font>;&#160;&#160;Guanacevi 20.2
      million oz, Guanajuato 6.8 million oz and Parral 4.3 million
      oz</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Silver Inferred Resources down
      6% to 18.3 million oz</font>;&#160;&#160;Guanacevi 9.6 million oz,
      Guanajuato 7.7 million oz and Parral 1.0 million
  oz</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Gold Inferred Resources up 17%
      to 111,000 oz;</font>&#160;&#160;Guanacevi 16,400 oz, Guanajuato 70,000 oz
      and Parral 24,600 oz</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Silver Equivalent Inferred
      Resources down 4% to 25.6 million oz</font>;&#160;&#160;Guanacevi 10.7
      million oz, Guanajuato 12.3 million oz and Parral 2.6 million
      oz</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
      mineral resources are exclusive of the mineral
  reserves</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mineral
      reserves have demonstrated economic viability whereas mineral resources do
      not</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2009
      silver equivalents based on 65:1 silver:gold ratio, base metals not
      included as equivalents</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2008
      silver equivalents based on 75:1 silver:gold ratio, base metals not
      included as equivalents</font></div>
              </td>
            </tr></table>
      </div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td style="WIDTH: 18pt">
                <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
      </font></div>
              </td>
              <td style="WIDTH: 18pt">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Symbol, serif">&#183;</font></font></div>
              </td>
              <td>
                <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">All
      assumptions used are listed at the bottom of the reserve and resource
      summary table</font></div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div><br>
      <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
          <div style="TEXT-ALIGN: center; WIDTH: 100%">
            <hr style="COLOR: darkgray" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
      </div><br>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Bradford Cooke, Chairman and CEO, commented, &#8220;We are
gratified to see our combined reserves and resources rise once again to a record
high last year, notwithstanding our 5<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; FONT-WEIGHT: normal">th</font>
consecutive year of growing production.&#160;&#160;The numbers speak to the
ability and success of our exploration team at discovering new, high grade
silver-gold deposits year after year within these historic Mexican silver
districts.&#8221;</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;Last
year, it was the discovery of the Porvenir Cuatro ore-body in Guanacevi and the
development of the Lucero ore-body in Guanajuato helped drive our
reserve/resource growth.&#160;&#160;In 2010, Endeavour will continue to focus on
the organic growth of its reserves/resources in Guanacevi and Guanajuato through
its ongoing strategic acquisition and exploration programs within these
districts.&#8221;</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;However,
we are also looking to new acquisitions such as the San Juanico property in the
Hidalgo de Parral district, Chihuahua and the San Sebastian properties in the
San Sebastian del Oeste district, Jalisco to help fuel our resource growth this
year.&#160;&#160;Management will continue to evaluate M&amp;A opportunities as a
means to accelerate Endeavour&#8217;s growth profile.&#8221;</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Barry
Devlin, M.Sc., P. Geo., the Vice President of Exploration for Endeavour, is the
Qualified Person who reviewed this news release and supervised the updated
reserve and resource estimates.&#160;&#160;Endeavour mine and exploration
personnel prepared the updated reserves and resources to December 31, 2009 for
the Guanacevi and Guanajuato mines.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Endeavour
retained Micon International Limited (Micon) to independently audit the updated
reserves and resources for the Guanacevi and Guanajuato mines and also for the
Cometa deposit on the Parral project.&#160;&#160;The Qualified Persons for Micon
are William J. Lewis, B.Sc., P.Geo., Charley Murahwi, M.Sc., P.Geo, MAusIMM,
Dibya Kanti Mukhopadhyay, MAusIMM, Robert J. Leader, P.Eng., Ing. Alan J. San
Martin, MAusIMM and Thomas C. Stubens, M.A.Sc., P.Eng..&#160;&#160;Micon&#8217;s
reports for the three projects will be filed on SEDAR before the end of March
once they have been completed.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
reserve and resource statements for the Guanacevi, Guanajuato and Parral
projects were classified following the definitions and guidelines of the
Canadian Institute of Mining, Metallurgy and Petroleum CIM standards and
definitions on Mineral Resources and Reserves and the guidelines of NI
43-101.</font></div>
      <div align="left">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="8" valign="bottom" width="82%" style="TEXT-ALIGN: left; MARGIN-LEFT: 9pt; BORDER-RIGHT: medium none"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Reserves and Resources
    2009</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">      </font>
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reserves
      Proven &amp; </font></div>
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Probable</font></div>
                </td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 0.5pt solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 0.5pt solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>
                </td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 0.5pt solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-LEFT: black 0.5pt solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Description&#160;</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Tonnes</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag
      g/t</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Au
      g/t</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag-Eq
      g/t</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag
      ounces</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Au
      ounces</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag-Eq</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Proven</font></div>
                </td>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanacevi</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">368</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.62</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">408</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,706,000</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,600</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,001,800</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanajuato</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">111,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">184</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.58</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">352</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">656,800</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,200</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,257,000</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total
      Proven</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">340,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">308</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.26</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">390</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,362,700</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13,800</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,258,800</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Probable</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanacevi</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,083,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">354</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.51</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">388</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,329,200</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">17,900</font></div>
                </td>
                <td valign="middle" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13,494,200</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanajuato</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">159,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">175</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.41</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">332</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">897,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,300</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,696,300</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total
      Probable</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,242,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">331</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.76</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">380</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13,226,200</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">30,200</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15,190,500</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total
      Proven &amp; Probable</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1,582,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">326</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">0.87</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">382</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">16,589,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">44,000</font></div>
                </td>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1pt solid">
                  <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">19,449,200</font></div>
                </td>
              </tr></table>
        </div>
        <div>&#160;</div>
        <div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cut-off
grade for Proven &amp; Probable Reserves is 222 g/t Ag for Guanacevi &amp; 202
Ag-Equivalent for Guanajuato</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Silver-Equivalencies
in the table are calculated using a 65:1 ratio based on prices of USD$ 17 per
ounce of silver and USD$1,100 per ounce of gold; no base metal credits are used
for calculating Silver-Equivalencies</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
          <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
              <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
            </div>
            <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
              <div style="TEXT-ALIGN: center; WIDTH: 100%">&#160;</div>
              <div style="TEXT-ALIGN: center; WIDTH: 100%">
                <hr style="COLOR: darkgray" noshade size="2">
              </div>
            </div>
            <div id="HDR">
              <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
            </div>
          </div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
        </div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr>
                <td align="left" colspan="7" valign="bottom" width="46%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Resources
      Indicated</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Description</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Tonnes</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag
      g/t</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Au
      g/t</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag-Eq
      g/t</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Ag
      ounces</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Au
      ounces</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag-Eq
      Ounces</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pb
      (%)</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Zn
      (%)</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Resources
      Indicated</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanacevi</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;2,173,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">255</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.53</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">290</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;17,830,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,100</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;20,244,100</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanajuato</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;624,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">215</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.90</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">339</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;4,319,500</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;38,200</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,804,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Parral
      (Cometa)</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;934,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">49</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.46</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">144</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;1,471,400</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;43,800</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,321,100</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3.18</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3.20</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total
      Indicated</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;3,731,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">197</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">0.99</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">262</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;23,620,900</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;119,200</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;31,369,300</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr></table>
        </div>
        <div>&#160;</div>
        <div>&#160;</div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr>
                <td colspan="10" valign="bottom" width="64%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Resources
      Inferred</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Description
      &#160;</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Tonnes</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag
      g/t</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Au
      g/t</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag-Eq
      g/t</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Ag
      ounces</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Au
      ounces</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ag-Eq
      Ounces</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Pb
      (%)</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 4px double; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Zn
      (%)</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanacevi</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;1,431,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">209</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0.36</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">232</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;9,607,200</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,400</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;10,674,800</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Guanajuato</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;1,131,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">212</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.93</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">338</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;7,714,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;12,262,600</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Parral
      (Cometa)</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;528,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">61</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1.45</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">155</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;1,035,500</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;24,600</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,635,500</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3.00</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2.74</font></div>
                </td>
              </tr><tr>
                <td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total
      Inferred</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;3,089,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">185</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1.12</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">257</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;18,356,700</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;111,000</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 0.5pt solid">
                  <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;25,572,800</font></div>
                </td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-LEFT: black 1px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                <td valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; BORDER-RIGHT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              </tr></table>
        </div>
        <div>&#160;</div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 9pt; FONT-FAMILY: times new roman">
<tr>
              <td align="left" colspan="22" valign="top" width="77%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cut-off
      grade for Indicated &amp; Inferred Resources for Guanacevi is 129 g/t Ag
      for Alex Breccia, Santa Cruz, North Porvenir and Porvenir Dos, 190 g/t
      AgEq for Porvenir Cuatro and 200 g/t AgEq or 50 g/t AgEq + 3.5% Pb + Zn
      combined for Noche Buena and Buena Fe.</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr>
              <td align="left" colspan="22" valign="bottom" width="77%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cut-off
      grade for Indicated &amp; Inferred Resources for Guanajuato is 150 g/t
      AgEq</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr>
              <td align="left" colspan="22" valign="bottom" width="77%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cut-off
      grade for Indicated &amp; Inferred Resources for Parral (Cometa) is USD$40
      Net Smelter Return (NSR)</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr>
              <td align="left" colspan="22" valign="top" width="77%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">The
      NSR for Parral (Cometa) was calculated using metal prices of USD$12 per
      ounce of silver, USD$900 per ounce of gold, USD$0.50 per pound of lead,
      USD$0.50 per pound of zinc; metallurgical recoveries used were 71% for
      silver, 75% for gold, 80% for lead and 74% for zinc.</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr>
              <td align="left" colspan="22" valign="top" width="77%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Silver-equivalencies
      in the table were calculated using a 65:1 ratio based on prices of USD$ 17
      per ounce of silver and USD$1,100 per ounce of gold; no base metal credits
      are used for calculating silver-equivalencies.</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr>
              <td align="left" colspan="22" valign="top" width="77%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Calculations
      or estimations inherently involve a degree of rounding and consequently
      introduce a margin of error.&#160;&#160;Where these occur, they are not
      considered to be material.</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr><tr>
              <td align="left" colspan="22" valign="top" width="77%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">NOTE</font>: Mineral Resources
      that are not Mineral Reserves do not have demonstrated economic
      viability.</font></div>
              </td>
              <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Endeavour
Silver Corp is a small-cap silver mining company focused on the growth of its
silver production, reserves and resources in Mexico. Since start-up in 2004,
Endeavour has posted five consecutive years of growing silver production and
resources. The organic expansion programs now underway at Endeavour&#8217;s two
operating silver mines in Mexico combined with its strategic acquisition program
should help propel Endeavour to become the next premier mid-tier primary silver
producer.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ENDEAVOUR
SILVER CORP.</font></div>
      <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Per:</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">/s/
"Bradford J. Cooke"</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Bradford
Cooke</font></div>
      <div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Chairman
and CEO</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For
more information, please contact Hugh Clarke Toll free: 877-685-9775, tel: (604)
685-9775, fax: (604) 685-9744, email <font style="DISPLAY: inline; TEXT-DECORATION: underline">hugh@edrsilver.com</font> or
visit our website, <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.edrsilver.com</font>.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">CAUTIONARY DISCLAIMER &#8211;
FORWARD LOOKING STATEMENTS</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This
news release contains &#8220;forward-looking statements&#8221; within the meaning of the
United States private securities litigation reform act of 1995 and
&#8220;forward-looking information&#8221; within the meaning of applicable Canadian
securities legislation. Such forward-looking statements and information herein
include, but are not limited to, statements regarding Endeavour&#8217;s anticipated
performance in 2010, including silver and gold production, timing and
expenditures to develop new silver mines and mineralized zones, silver and gold
grades and recoveries, cash costs per ounce, capital expenditures and sustaining
capital and the use of proceeds from the Company&#8217;s recent financing. The Company
does not intend to, and does not assume any</font></div><br>
      <div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
          <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
          <div style="TEXT-ALIGN: center; WIDTH: 100%">
            <hr style="COLOR: darkgray" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160;
</font></div>
        </div>
      </div><br>
      <div align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">obligation
to update such forward-looking statements or information, other than as required
by applicable law. Forward-looking statements or information involve known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Endeavour and its
operations to be materially different from those expressed or implied by such
statements. Such factors include, among others: fluctuations in the prices of
silver and gold, fluctuations in the currency markets (particularly the Mexican
peso, Canadian dollar and U.S. dollar); changes in national and local
governments, legislation, taxation, controls, regulations and political or
economic developments in Canada and Mexico; operating or technical difficulties
in mineral exploration, development and mining activities; risks and hazards of
mineral exploration, development and mining (including environmental hazards,
industrial accidents, unusual or unexpected geological conditions, pressures,
cave-ins and flooding); inadequate insurance, or inability to obtain insurance;
availability of and costs associated with mining inputs and labour; the
speculative nature of mineral exploration and development, diminishing
quantities or grades of mineral reserves as properties are mined; the ability to
successfully integrate acquisitions; risks in obtaining necessary licenses and
permits, and challenges to the company&#8217;s title to properties; as well as those
factors described in the section &#8220;risk factors&#8221; contained in the Company&#8217;s most
recent form 40F/Annual Information Form filed with the S.E.C. and Canadian
securities regulatory authorities. Although the Company has attempted to
identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements or information, there may be
other factors that cause results to be materially different from those
anticipated, described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements or information will prove to be
accurate as actual results and future events could differ materially from those
anticipated in such statements or information. Accordingly, readers should not
place undue reliance on forward-looking statements or information.</font></div>
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