Endeavour Silver Acquires San Fernando Property Adjacent to Milache Discovery Near Guanacevi Mine, Durango, Mexico

Wed Nov 28, 2012 8:00am EST

* Reuters is not responsible for the content in this press release.

Endeavour Silver Corp. (TSX:EDR)(NYSE:EXK)(FRANKFURT:EJD) announces that
it has purchased the San Fernando mineral property located about 1.5
kilometers northwest of Endeavour's Guanacevi Mine properties in Durango
State, Mexico.

    San Fernando is a small property (20 hectares) strategically located
adjacent to Endeavour's emerging new high grade silver-gold discovery on
the Milache property. The property covers the upper portion of the Santa
Cruz vein which hosts the Milache mineralization, and holds good
potential to host any northern extensions of the Milache discovery.
Exploration drilling is planned at the San Fernando property in 2013.

    Endeavour also announces that its exploration drilling program at Milache
continues to extend the recently discovered high grade silver-gold
mineralized zone in the Santa Cruz vein to more than 300 meters (m) long
by 250 m deep, still open for expansion to the north and at depth. 

    The latest drilling highlights at Milache include 308 grams per tonne
(gpt) silver and 1.76 gpt gold over 2.81 m true width (11.5 ounces per
ton (opT) silver equivalents over 9.2 feet (ft)) in hole MCH-24 based on
a silver: gold ratio of 50:1; including a very high grade interval of
1,885 gpt silver and 6.8 gpt gold over 0.19 m true width (64.9 opT silver
equivalents over 0.6 ft). 

    Drilling highlights are as follows: Click here to view Longitudinal
Section: http://www.edrsilver.com/i/maps/Longitudinal-Section-SCV-and-FWS

Milache Drill Highlights                                                    
                                    From    Width       Au       Ag    Ag Eq
Hole    Vein                         (m)      (m)    (gpt)    (gpt)    (gpt)
MCH-20  Santa Cruz                351.75     1.55     0.73      241      278
        Including                 351.75     0.44     1.73      622      709
MCH-21  Santa Cruz                389.75     2.26     0.48      198      222
        FW Santa Cruz             399.00     3.38     0.51      312      338
        Including                 399.55     0.30     1.83    1,325    1,417
MCH-22  Santa Cruz                445.15     2.09     1.81      559      649
        Including                 445.15     0.25     3.87    1,235    1,429
        Vein                      479.40     1.41     0.84      264      306
MCH-23  FW Santa Cruz             474.30     3.05     0.88      386      430
        Including                  477.8     0.17     2.30    1,040    1,155
MCH-24  FW Santa Cruz             548.35     2.81     1.76      308      396
        Including                 551.20     0.19     6.80    1,885    2,225
MCH-26  Silicified Zone           374.55     2.04     0.66      249      283
        Santa Cruz                382.75     3.83     0.65      180      212
MCH-27  FW Santa Cruz             424.85     3.68     0.72      216      252
        Including                 429.05     0.46     2.98      535      684

    Luis Castro, Endeavour's Vice President of Exploration, commented, "Our
exploration drilling continues to extend the high grade silver-gold
mineralization at Milache to the north and to depth. This timely
acquisition of the San Fernando mineral property will allow us to
continue drilling to the north onto the San Fernando property next year."

    "The high grade mineralization at Milache is turning out to be one of our
best new discoveries at Guanacevi in recent years. We hope to complete an
initial resource estimate at year-end, add the project to our long term
mine plan and commence development of a mine access ramp in 2013."

    Godfrey Walton, M.Sc., P.Geo. President and COO, is the Qualified Person
who reviewed and approved this news release and supervised the drilling
programs on the Milache property. A Quality Control sampling program of
reference standards, blanks and duplicates has been instituted to monitor
the integrity of all assay results. All samples were split at the
Guanajuato field office and shipped to ALS-Chemex Labs, where they are
dried, crushed, split and 50 gram pulp samples are prepared for analysis.
Gold and silver are determined by fire assay with an atomic absorption
(AA) finish and other elements are determined by AA.


    Bradford Cooke, Chief Executive Officer

    About Endeavour Silver Corp. 

    Endeavour Silver is a premier mid-tier silver mining company focused on
the growth of its silver production, reserves and resources in Mexico.
Since start-up in 2004, Endeavour has posted seven consecutive years of
growing silver production, reserves and resources. The organic expansion
programs now underway at Endeavour's three operating silver mines in
Mexico combined with its strategic acquisition and exploration programs
should facilitate Endeavour's goal to become the next premier senior
silver mining company. 

    Cautionary Note Regarding Forward-Looking Statements

    This news release contains "forward-looking statements" within the
meaning of the United States private securities litigation reform act of
1995 and "forward-looking information" within the meaning of applicable
Canadian securities legislation. Such forward-looking statements and
information herein include, but are not limited to, statements regarding
Endeavour's anticipated performance in 2011, including revenue, cash cost
and capital cost forecasts, 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 the Company's working
capital. The Company does not intend to, and does not assume any
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);
fluctuations in the price of consumed commodities, 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, reliability of calculation
of mineral reserves and resources and precious metal recoveries,
diminishing quantities or grades of mineral reserves as properties are
mined; the ability to successfully integrate acquisitions; risks in
obtaining necessary licenses and permits, global market events and
conditions and challenges to the Company's title to properties; as well
as those factors described in the section "risk factors" contained in the
Company's most recent form 40F/Annual Information Form filed with the
S.E.C. and Canadian securities regulatory authorities.

    Forward-looking statements are based on assumptions management believes
to be reasonable, including but not limited to: the continued operation
of the Company's mining operations, no material adverse change in the
market price of commodities, mining operations will operate and the
mining products will be completed in accordance with management's
expectations and achieve their stated production outcomes, and such other
assumptions and factors as set out herein.

    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

Endeavour Silver Corp.
Lana McCray
Manager, Corporate Communications
(604) 685-9775 or Toll free at 877-685-9775
(604) 685-9744 (FAX)

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