2004

Endeavour To Raise $9.6 Million In Private Placement Financing

Endeavour Gold Corp. (EDR: TSX-V) announces that it plans to raise CAD$ 9.6 million in private placement financing in order to proceed with the acquisition of the operating Santa Cruz silver mine and the Guanacevi mill.

The Company has engaged Canaccord Capital Corporation and Dundee Securities Corporation to act as Agents in a brokered private placement of up to five million units at CAD$ 1.60 per unit for a total of CAD$ 8 million. Each unit will consist of one common share and one half warrant, each full warrant giving the holder the right to purchase an additional common share at CAD$ 2.00 within an eighteen month period.

Endeavour will also complete a non-brokered private placement of one million units at the same price and the same terms as the brokered placement for an additional CAD$ 1.6 million. The net proceeds of both placements will be used towards the costs of acquisition of the Santa Cruz mine and Guanacevi processing plant, exploration drilling, underground development and production optimization, as well as working capital.

A 7.5% commission and up to 600,000 warrants (having the same terms as the warrants in the units) will be paid to the Agents on closing. A 7.5% finders fee will be paid on a portion of the non-brokered placement. Canaccord will receive a corporate finance fee of 25,000 units.

Endeavour Gold Corp. (EDR: TSX-V) is a small-cap exploration and 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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