January 4, 2004
Granting of Incentive Stock Options

Endeavour Gold Corp. (EDR: TSX-V) announces that it has granted 270,000 incentive stock options for directors, officers, and employees at an exercise price of $0.66 for a five-year period.

Endeavour Gold Corp. (EDR: TSX-V) is a 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,


"Bradford J. Cooke"

Bradford J. Cooke
President and CEO