2003

Endeavour Agrees to CA $600,000 Private Placement

Endeavour Gold Corp. (EDR:TSX-V) announces it has agreed to a non-brokered CA $600,000 financing. The private placement is for 2.0 million units at CA $0.30 per unit, each unit consisting of one common share and one -half common share purchase warrant.

Each full warrant can be exercised to purchase an additional common share at CA $0.35 within a two year period. The shares and warrants are subject to the standard four month hold period, and a finders fee may be paid on a part of the offering.

The proceeds will be added to working capital for use in part to fund exploration work on mineral properties in Quebec and Mexico.

Endeavour Gold Corp. (EDR: TSX-V) is a recently re-organized junior exploration company focused on acquiring a portfolio of attractive gold-silver prospects in Mexico and discovering new precious metal deposits. 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 C.E.O.

For more information, please contact Gregg Wilson at tel: (604) 685-9700, fax: (604) 685-9744, email info@canarc.net. 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

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