2003

Four High Grade Silver Zones Identified At Santa Cruz Mine, Mexico

Endeavour Gold Corp. (EDR: TSX-V) announces that four high grade silver zones have been identified in a due diligence review of previous drilling at the Santa Cruz mine, Guanacevi district, Durango, Mexico. Endeavour holds an option to acquire a 100% interest in the Santa Cruz mine and Guanacevi processing plant for US $7 million in cash payments and US$ 1 million in work expenditures over a 4 year period.

Each of the four mineralized zones returned high grade silver values over attractive vein widths (true widths are typically 70-80% of core lengths), as follows:


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Ore Zone             Hole(No.)   Core Length  Silver  Gold
                                     (m)      (gpt)   (gpt)
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North El Porvenir     SSC-01         5.36      612    1.27
                      SSC02          5.50      626    0.58
                      SSC-03         7.20      528    1.17
                      SSC-03 dup     7.00      481    0.96
               
Deep Santa Cruz       P13            9.52      659    0.99
                      P14            7.33      328    0.86
                      P15            4.60      457    1.06
                      P40           11.64     1562    2.83
                      P44            4.24      134    0.50
                      P45            1.54      245    0.50
                      P46            2.28      099    0.50
                      P47            7.23     1202    3.62
                      P49            5.73      388    1.13
                      P52            5.00      723    2.19
                      P52            1.52      876    2.10
                      P54            1.58      312    1.90
                      P54            1.30      932    1.70
                      S16            4.50      895    1.08
                      S17            4.00      444    0.83
                      S19            4.00      242    1.00
                      S20            4.80      317    0.82
                      S21            4.00      480    1.00
                      S22            6.00     1696    2.40
                      S23            2.00      235    0.50
                      S24            9.00      921    1.11
                      S25            8.00      579    0.70
                      S26            6.00      328    0.66
                      S41            2.00      245    0.70
                      X458           5.10      212    0.60
                      X473           8.00      631    1.96
                      X495           8.75      317    0.66
                      X555           4.30      824    2.04
                      X565           4.00      728    1.25
             
South La Prieta       PR-1           4.05      326    0.55
                      PR-2           5.10      260    0.33
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The San Guillermo zone is the site of current mining activities at the Santa Cruz mine. This area has never been drilled or placed in ore reserves but is currently producing about 100 tpd of high grade silver ore above Level 6 (the main adit for hauling ore to surface). Two high grade drill holes drilled by Penoles in the 1980's average 572 gpt Ag over a 1.29 m core length below Level 6 confirming that the mineralization continues for at least 100 m along strike and 150 m below surface. 

The Deep Santa Cruz zone was also drilled by Penoles in the 1980's and a trial stope 12 m wide was mined above Level 13 (the deepest mine level, about 200m below surface) by the current owners in the 1990's. However, much of this zone extends below the water table and the Santa Cruz mine has no current pumping capacity. This area is the simple down plunge extension of the prolific Santa Cruz ore zone discovered by the Spaniards, which produced much of the historic high grade silver ore from the mine. Twenty-nine high grade drill holes averaging 669 gpt Ag over a 5.1 core length indicate the Deep Santa Cruz zone spans at least 150 m along strike by an additional 150m in depth, still open to the north and to depth. The Santa Cruz zone on surface was mined for more than 450 m along strike.

The South La Prieta zone located 1.1 km south of the original Santa Cruz mine was the site of mining activities in 2000 and 2001. Two drill holes averaging 292 gpt Ag over a 5.0 core length at a depth of 100 m below surface indicate this zone is wide open along strike and down dip.

The North El Porvenir zone was only discovered last year when three high grade drill holes returned an average of 582 gpt Ag over 6.0 m core length in a completely virgin part of the Santa Cruz vein some 1.1 km northwest of the original Santa Cruz discovery. Check assaying of hole SSC-03 returned 481 gpt Ag over 7.0 m, confirming the previous high grade results. The three holes outline a mineralized zone at least 300 m along strike to 200 m in depth, open in all directions.

Clearly, these four high grade mineralized zones represent attractive targets for Endeavour to build mineral resources through additional drilling and development work. An independent due diligence report on the Santa Cruz mine and Guanacevi mill is anticipated shortly.

Godfrey Walton, M.Sc., P. Geo. acted as the Qualified Person during the review of the previous drill core and drilling data at the Santa Cruz mine, including the check assays of hole SSC-03. This drill core was previously split for assaying and the remaining half was split again by Endeavour. These quarter splits (6 samples) were sent to ALS Chemex who crushed, ground and split the cores to produce 30 gram subsamples which were then fire assayed using an atomic absorption finish.

Endeavour Gold Corp. (EDR: TSX-V) is a small-cap mining company focused on aggressively expanding its portfolio of high grade silver-gold properties, reserves and production in Mexico. Canarc Resource Corp. holds a minority shareholding in the Company and manages the affairs of Endeavour.

On Behalf of the Board of Directors,
ENDEAVOUR GOLD CORP.

/s/ "Bradford J. Cooke"

Bradford J. Cooke
President and CEO

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release."

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