Endeavour announces positive DFS results for the Assafou project that underpins the next phase of organic growth

Abidjan, 23 April 2026 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) is pleased to announce the results of the Definitive Feasibility Study (“DFS”) for the Assafou-Dibibango (“Assafou”) project on the Tanda-Iguela property in Côte d’Ivoire.

We are pleased with the results of the Assafou project DFS, which confirms the quality and scale of the asset that will underpin the next phase of Endeavour’s organic growth.
Assafou has the potential to become another cornerstone asset for Endeavour, adding 320koz of production per year at a first quartile AISC of $1,026/oz, over the first eight years of its 16-year mine life. It will be our lowest-cost and longest-life mine, further improving our portfolio quality while bolstering the resilience of the business.
The impressive project economics demonstrate our ability to rapidly generate value through the drill bit. Assafou was discovered for $13 million in 2022 and only four years later has a value of $5.1 billion at a $4,000/oz gold price. As we continue to de-risk the project and grow its resource base through exploration, we expect to unlock even more value.
Since its discovery, the Assafou M&I resource has grown 470%, to over 5 million ounces, and we are increasingly excited by more than 20 highly prospective satellite targets, in close proximity to the deposit.
Working closely with our supportive in-country stakeholders, we are advancing the project’s mining convention, and we are targeting a final investment decision before the end of the year. Simultaneously, we have launched early works, detailed engineering and design, key tenders and long-lead orders to expedite construction. 
As we advance Assafou, we will remain disciplined and prioritise maximising free cash flow from every ounce of gold we produce, ensuring that we continue to deliver sector leading shareholder returns, while we organically grow production to 1.5 million ounces by 2030.

Ian Cockerill

Chief Executive Officer

Table 1: Assafou Project Highlights

 The key operational and economic highlights of the Assafou DFS are summarised in Tables 2 and 3 below.

Table 2: Assafou DFS Summary

 ¹Based on a reserves gold price of $1,500/oz and a resource gold price of $1,900/oz. Reserves and Resources relates to the Assafou Project and are exclusive of Pala Trend 3 Resources. ²Based on a gold price of $2,500/oz.  ³GHG Emissions Intensity considers only Scope 1 and 2 emissions.

Table 3: Assafou DFS Project Economics

Endeavour expects to file a Technical Report pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“the NI 43-101”) in respect of the Assafou DFS within 45 days of this news release.

Attachment

• Full Press Release PDF
• Assafou DFS - NR Appendix
• Assafou Project - Drill results

CONTACT INFORMATION

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