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www.edrsilver.com TSX: EDR | NYSE: EXK July, 2020 Guadalupe Y Calvo Gold - Silver Project Chihuahua State, Mexico 2 GUADALUPE Y CALVO OVERVIEW • Well located property, excellent road access, good local infrastructure • Historic gold - silver mining district, multiple vein structures 3 km long • Low sulfidation epithermal veins, high grade “bonanza” orebodies • Prolific production history, 2 million oz gold, 28 million oz silver • Encouraging historic drill results 4 . 12 gpt gold, 281 gpt silver over 2 . 5 m • Historic Indicated Resource of 142 , 500 oz gold, 7 . 1 million oz silver • 1 . 86 million to

2 nnes @ 2 . 4 gpt gold, 120 gpt silver â€
nnes @ 2 . 4 gpt gold, 120 gpt silver • Resource wide open beneath post - mineral tuffs • Exploration targets untested and open along strike, at depth • Endeavour is seeking a partner or buyer for the project 3 GUADALUPE Y CALVO PROPERTY LOCATION AND ACCESS • Located in the town of Guadalupe y Calvo, southwestern Chihuahua State, México, approximately 300 km south of Chihuahua City . • The Project is accessible by highway from Chihuahua City through the city of Hidalgo de Parral , a major mining center about a 3 hour drive from GyC 4 GUADALUPE Y CALVO CONCESSIONS Concession Name Title Number Term of Mineral Concession Hectar

3 es Guadalupe 159362 29/10/73 to 28/10/
es Guadalupe 159362 29/10/73 to 28/10/23 100.0000 Ampl. de Guadalupe 211461 31/05/00 to 30/05/50 28.0000 Guadalupe Tres 224250 22/04/05 to 21/04/55 148.7341 Guadalupe Tres 224430 10/05/05 to 09/05/55 159.8364 La Bufa 219036 31/01/03 to 30/01/53 1,040.7594 La Bufa 1 222724 27/08/04 to 26/08/54 485.0000 La Bufa 2 223165 28/10/04 to 27/10/54 765.5000 El Chapito 164161 05/03/79 to 04/03/29 20.0000 Guadalupe Tres Fraccion Dos 240131 13/04/12 to 12/04/62 0.4049 Guadalupe Tres Fraccion Dos 240132 13/04/12 to 12/04/62 2.2650 Total 2,750.4998 • In July, 2012 , Endeavour Silver completed the acquisition of the Guadalupe y Ca

4 lvo Project from AuRico Gold Inc . , whi
lvo Project from AuRico Gold Inc . , which consisted of eight mineral concessions covering 54 , 856 . 1 hectares . • In 2014 , Endeavour Silver acquired four concessions controlled by Minera Lincoln de Mexico, S . A . de C . V . (Lincoln), with 2 , 311 . 2594 hectares . These concessions cover the extensions of the Rosario vein, both to the northwest and to the southwest . • In July, 2018 , Endeavour reduced the San Luis and San Luis NW claims (with 18 , 391 . 5 and 36 , 025 . 3177 hectares respectively) which were part of the original acquisition • Currently, the Guadalupe y Calvo Project consists of ten mineral concessions cover

5 ing 2 , 750 . 4998 hectares, including s
ing 2 , 750 . 4998 hectares, including several old adits and shafts . Endeavour Silver and its subsidiaries control 100 % of the mineral properties comprising the Project and there are no underlying royalty agreements on the mineral properties . 5 GUADALUPE Y CALVO EARLY HISTORY 1554 Spanish exploration of northern Mexico begins . 1567 First significant mineral discovery in Chihuahua State . 1600 - 1700 Other major mineral discoveries in Mexico include : Parral , Batopilas , Santa Eulalia, Marguarichi , Dolores and Naica districts . 1820 Mexico gains independence from Spain and Mexican government encourages foreign investment to develop

6 the economy – a revival of mining beg
the economy – a revival of mining begins 1835 Bonanza gold was discovered on the site of the Rosario vein outcrop and in a short time the town of Zorrilla was founded Guadalupe y Calvo) . 1835 - 1838 Ochoa family begin consolidating district and by 1928 have sole ownership of the northern Zorrilla and Pertenencia portions of the Rosario breccia/vein complex . The southern San Francisco portion of Rosario remains in the hands of local small miners for many years . 1838 - 1949 Ochoa family lease their holdings to two English mining companies . During this time bonanza graded ores were produced from both open pit and underground working

7 s . Operations were restricted by lease
s . Operations were restricted by lease agreements to approximately 100 meters below surface and above . 1844 Output from these mining operations was large enough that the Mexican government erected a mint to coin the mines output . 1849 Properties reverted back to the Ochoa family, as mutually agreed terms for new leasehold agreements on the properties could not be reached . 1849 - 1865 District was worked primarily by small miners and gambosinos under agreements with the Ochoas . 1865 Henry Holderness, an American of British decent, purchases one half interest in the Ochoa properties . Holderness utilized the exploration shafts and tu

8 nnels constructed by the English compani
nnels constructed by the English companies to develop and mine the Pertenencia and Zorrilla portions of the Rosario breccias/vein complex down to approximately 200 meters below the surface . At this depth, dewatering the mine became too much of a problem so mining halted there 1871 Holderness deeded his interests back to the Ochoa family . 1871 - 879 Ochoas leased ground to gambosinos and mining and production continued in a haphazard fashion . 6 GUADALUPE Y CALVO LATER HISTORY 1879 - 1888 Ochoas leased properties to various U . S . politicians and mining promoters ; however, all these ventures failed due to the demands of the Ochoas fa

9 mily . 1888 Ochoa family lost claims by
mily . 1888 Ochoa family lost claims by failure to perform minimal work requirements . 1889 - 1894 American mining group consolidated district and mining activities were limited to repossessing dump materials, a highly profitable venture . 1895 Tiburcio Garcia, a local merchant acquired all interests in district and sold them to Rosario Mining Company of Ft . Worth, Texas . 1895 - 1910 Rosario Mining operated the property and undertook extensive underground sampling programs until the property was sold to West Mexican Mines Ltd . 1910 - 1939 West Mexican operated a 50 - ton per day mill with a cyanide recovery circuit and reported recov

10 eries of 90 percent . In 1930 s operatio
eries of 90 percent . In 1930 s operations shifted from the main Rosario breccias/vein complex to the east west striking Nankin structure . Known for almost 100 years, this was the first time any diligent exploration and development has been taken on the structure . 1940 West Mexican continued production until they left the district in 1940 . 1940 - 1978 Small miners and gambisinos operated mines at Guadalupe y Calvo . 1978 Compañia Minera Los Maples S . A . de C . V . acquired claims encompassing both the Rosario and Nankin structure, rehabilitated the old mill building and installed a treatment plant with a flotation circuit, and used

11 the recovery process Merrill Crowe circ
the recovery process Merrill Crowe circuit on a small heap leach . Production by Los Maples was derived from a small open cut at the top of the Rosario outcrop and underground workings in the Nankin . Grades in the open cut were reported to be 4 . 3 g/t gold and 312 g/t silver . 1980 s CRM performed studies as part of the Mexican government’s program to stimulate mining . No exploration work was performed . Contrastista Tormex S . A . , a subsidiary of Lacana reviewed data with no actual exploration work performed . 1996 V - Fund Investments Ltd . acquired an option from Los Maples and performed limited mapping, sampling and bottle r

12 oll leach tests on surface samples . 199
oll leach tests on surface samples . 1997 Minera Glamis S . A . de C . V . , subsidiary of Glamis Gold Ltd . , performed limited work of mapping and a surface and underground sampling program 1998 - 2000 Augusta Resource Corp . of Vancouver, BC, entered into an agreement with V - Fund and completed a small 9 - hole RC drill program in 2000 . 2006 Gammon Gold acquires Guadalupe y Calvo project in the context of an acquisition of Mexgold . 7 GUADALUPE Y CALVO ENDEAVOUR EXPLORATION • Exploration activities commenced in 2013 and concluded in 2018 , focused on regional exploration to add resources to those already detected in El Rosario mi

13 ne . • In 2016 , an interpretation of
ne . • In 2016 , an interpretation of ASTER - type satellite images was performed . • At the end of 2016 , an Aerial Flight of Geophysics was carried out over 3 , 000 linear kilometers (including Magnetometry, Gamma Ray Spectrometry and VLF) . • Both surveys generated anomalies that were partially followed up by geological prospecting • Approximately 4 , 600 geochemical samples were collected with respect to the properties . • From these activities are highlighted the following prospective areas : San Carlos, Las Truchas, Canoas, Nabogame , Milpillas , Mesa de la Reforma , Gallinas and El Chapito . 8 GUADALUPE Y CALVO ASTER AN

14 OMALIES 9 GUADALUPE Y CALVO AEROMAGNETIC
OMALIES 9 GUADALUPE Y CALVO AEROMAGNETIC ANOMALIES 10 GUADALUPE Y CALVO REGIONAL GEOLOGY • The mining district of Guadalupe y Calvo is located within the Sierra Madre Occidental metallogenic province, a north - northwesterly trending linear volcanic belt (Figure 7 . 1 ) . This volcanic field, 1 , 500 km long and 200 km wide, is one of the world’s largest epithermal precious metal terranes, hosting a majority of Mexico’s gold and silver deposits . It extends from south of Oaxaca and Chiapas to Arizona and New Mexico . 11 GUADALUPE Y CALVO REGIONAL MINING DISTRICTS • GyC lies in the heart of the Sierra Madre Occidental gold - silv

15 er belt of low sulfidation, epithermal m
er belt of low sulfidation, epithermal mining districts • Fresnillo’s San Julian mine lies 50 km to the SE and Couer’s Palmerejo mine lies 150 km to the NW 12 GUADALUPE Y CALVO PROPERTY GEOLOGY 13 GUADALUPE Y CALVO CORE TARGETS Rosario San Carlos El Chapito GYC Exploration Targets SAN CARLOS ▸ San Carlos ▸ Silvia SAN CARLOS II ▸ El Martillo ▸ La Paz ▸ El Jabalí ▸ Las Arañas ▸ Los Venados ▸ La Escondida ROSARIO ▸ Rosario - Nankin EL CHAPITO ▸ El Chapito ▸ Santo Niño ▸ El Tejaban ▸ El Encino ▸ El Capulin ▸ La Manzanilla ▸ El Libramiento ▸ El Arroyo ▸ El Pinabete 14 GUADALUPE Y CALVO MINE

16 RALIZATION • The property covers the h
RALIZATION • The property covers the historic Rosario mine, with past production of 2 million ounces of gold and 28 million ounces of silver . Historic operations were hindered by water problems when the mine reached the valley floor which is why mining was not pursued down dip . • Guadalupe y Calvo is a classic gold - silver low sulfidation epithermal deposit with quartz - adularia - sericite veins . The system contains veins, breccias and stockworks hosting economically significant gold and silver sulfide mineralization with open - space textures associated with volcanic related hydrothermal systems . • The mine’s main structu

17 ral feature is the northwest striking Ro
ral feature is the northwest striking Rosario fault complex with a total width of the mineralized zone up to 80 m . Historic underground mining widths of high - grade gold - silver mineralization were up to 10 m . • The second major vein is the east - west striking Nankin vein, which dips shallowly south at 30 ° . This structure has an obvious deflection where it intersects the Rosario vein, creating a complex pattern of stockwork and sheeted veinlets that provides a possibility for bulk - mining either in open pit or large underground stopes . 15 GUADALUPE Y CALVO ROCK SAMPLING 16 GUADALUPE Y CALVO ROSARIO TREND 17 GUADALUPE Y CALVO

18 ROSARIO MINE GEOLOGY • The wide hydro
ROSARIO MINE GEOLOGY • The wide hydrothermal breccia of the Rosario Vein system is covered by the unconformable post - mineral volcanics to the southeast, and is down - thrown by the Bufa Fault on the order of 400 m vertically to the northwest . 18 GUADALUPE Y CALVO ROSARIO VEINS Sc h e m a t i c s ur fa c e ve in m a p of t he P roj e c t , s howing t he m a in Veins. Section 64 - 1 SW - NE (looking NW) - T y pi ca l t r a n s v e r s e s ec t i o n s howing t he t wo m a jor ve in s . The s ec t ion i s dr a w n p e rp e ndi c u l a r t o t he Ro s a rio Ve in, but sk e w t o t he st ri k e of t he N a n k in V e in w hi

19 c h is a n E - W v e in dipping a p
c h is a n E - W v e in dipping a ppro x im a te ly 3 0 ° s ou t h, t h a t h a s s u ff e r e d dr a g f olding in t he h a ngi n g w a ll of t he Ro s a rio s t ru c t ur e. 19 GUADALUPE Y CALVO ROSARIO AREA Photograph of cliffs formed by ignimbrites of UVS with Exploration Camp shown in valley bottom. T y pi c a l ou t c r o p of t he Ro sa rio Ve in loo k ing NNW a long st ri ke , h e re s howing a n 1 1 m wi d e zo n e of s t rong ve i n ing a nd h y dro t h e rm a l br e c c i a s. Outcrop of the Rosario Vein O p en stop e s at t he su r face of the R osa r io vein, loo k ing S E t o w a r ds to w n. 20 GU

20 ADALUPE Y CALVO ROSARIO RESOURCE ( Auric
ADALUPE Y CALVO ROSARIO RESOURCE ( Aurico Long Section) Longi t udin a l sec t ion of t h e Ro sa rio Ve in, loo k ing N or t h eas t , s howing t he S i l v e r / Gold R a t io of min e r a l i z e d in t e r c e p t s in t he Ro sa rio V e in drilled by Aurico . Al t hough t h e re i s no di s t r i c t - wide t r e nd, t here a pp e a rs t o be “feeders” a s s o c i a te d wi t h high e r Ag / Au r a t io s . O re d e po s i t s in t he S i e r ra M a d re t e nd t o h a v e Ag – b ase m e t al roo t s, a nd t his c ou l d be e v id e n c e of s u ch a r oot t o t he sys t em h e r e . 21 GUADALUPE Y CALVO ROSARIO RESOURCES (

21 Aurico ) Longitudinal Section of Rosario
Aurico ) Longitudinal Section of Rosario Vein, showing indicated resources blocks Longitudinal Section of Rosario Vein, showing inferred resources blocks Longitudinal Section of Nankin Vein, showing indicated resources blocks Longitudinal Section of Nankin Vein, showing inferred resources blocks Classification Ton Ag Au Ag Oz Au Oz Indicated Resources 1,861,000 119.5 2.4 7,147,300 142,500 Classification Ton Ag Au Ag Oz Au Oz Inferred Resources 154,000 93.8 2.1 464,600 10,600 22 GUADALUPE Y CALVO SAN CARLOS AREA 23 GUADALUPE Y CALVO SAN CARLOS TARGETS 24 GUADALUPE Y CALVO EL CHAPITO AREA 25 GUADALUPE Y CALVO EL CHAPITO TA

22 RGETS 26 GUADALUPE Y CALVO EL CHAPITO AR
RGETS 26 GUADALUPE Y CALVO EL CHAPITO AREA (Lincoln Drilling Program) 27 GUADALUPE Y CALVO EL CHAPITO AREA (Lincoln Significant Drill Intercepts) hole id dip from to intercept core rec Au Ag Cu Pb Zn (m) (m) (m) dia % gpt gpt ppm or % ppm or % ppm or % LB - DDH - 001 - 45 89.20 90.00 0.80 NTW 100 0.166 11.3 172 236 502 91.50 93.00 1.50 NTW 100 0.178 11.4 145 222 304 94.50 97.00 2.50 NTW 100 4.12 281 397 561 764 122.20 123.50 1.30 NTW 98 0.427 23.7 0.40% 0.23% 0.31% 256.03 259.08 3.05 NTW 99 0.513 2.29 65 75 306 348.73 351.73 3.00 BTW 99 0.775 5.1 11 434 74 LB - DDH - 002 - 45 65.50 68.60 3.05 NTW 100 0.257 17.4 138 505 415 73.15 76.

23 20 3.05 NTW 100 1.067 5 161 96 309 82.30
20 3.05 NTW 100 1.067 5 161 96 309 82.30 83.80 1.50 NTW 100 0.188 7 74 362 528 89.21 94.50 5.28 NTW 100 0.186 7.8 305 0.11% 0.11% 107.68 108.60 0.92 NTW 100 0.266 13.7 86 0.13% 0.16% LB - DDH - 003 - 45 172.22 173.72 1.50 NTW 97 10.7 516 0.50% 2.54% 2.42% 175.26 176.76 1.50 NTW 98 0.115 7.8 161 0.16% 0.26% LB - DDH - 004 - 45 198.40 199.90 1.50 HQ 92 0.295 2.8 31 180 486 199.90 201.35 1.45 HQ 82 0.727 33.8 129 631 881 201.35 202.85 1.50 HQ 89 0.187 11 59 368 912 352.70 355.75 3.05 NTW 97 0.288 1.7 30 44 118 LB - DDH - 005 - 60 133.95 135.30 1.35 HQ 90 0.169 6.6 331 0.18% 0.33% 152.40 153.93 1.53 NTW 100 1.37 10.7 289 0.27% 0.41% 153.93

24 155.45 1.52 NTW 100 0.211 11.2 663 0.63%
155.45 1.52 NTW 100 0.211 11.2 663 0.63% 0.87% LB - DDH - 006 - 45 32.00 33.50 1.50 HQ 97 0.203 2.7 19 92 88 48.74 50.29 1.55 HQ 97 0.148 19.1 235 379 462 50.29 51.79 1.50 HQ 93 3.91 110 868 510 413 65.53 67.05 1.52 HQ 98 0.109 32.7 222 612 0.12% LB - DDH - 007 - 60 128.59 130.30 1.71 NTW 100 0.015 5.4 971 0.24% 0.36% 251.82 252.98 1.16 NTW 94 0.014 7.5 775 0.56% 0.91% 278.00 279.40 1.40 BTW 98 0.007 4 336 0.47% 1.14% 279.40 281.10 1.70 BTW 100 0.02 6.8 759 0.35% 0.40% 286.51 287.71 1.20 BTW 100 0.015 5.5 411 0.60% 0.56% hole id dip from to intercept core rec Au Ag Cu Pb Zn (m) (m) (m) dia % gpt gpt ppm or % ppm or % ppm or % LB - D

25 DH - 008 - 45 134.11 137.16 3.05 HQ 97 0
DH - 008 - 45 134.11 137.16 3.05 HQ 97 0.094 7.6 0.10% 0.19% 0.38% 137.16 138.66 1.50 HQ 95 0.028 7.6 522 0.44% 0.64% 141.71 143.26 1.55 HQ 95 0.035 9.7 699 0.18% 0.22% 143.26 144.76 1.50 HQ 95 0.118 5.2 252 0.14% 780 147.80 149.35 1.55 HQ 98 0.402 6.6 555 0.24% 0.14% 210.31 213.36 3.05 HQ 97 0.237 1.6 42 80 120 213.36 216.41 3.05 HQ 98 0.043 4.7 116 0.13% 0.17% LB - DDH - 009 - 60 86.80 89.85 3.05 HQ 99 0.106 5 27 130 283 262.25 263.55 1.30 HQ 100 0.261 8.5 373 0.15% 0.21% LB - DDH - 010 - 60 10.64 12.19 1.55 HQ 99 0.123 7.6 27 83 48 19.79 21.34 1.55 HQ 100 0.985 25.8 39 126 66 51.82 54.86 3.04 HQ 98 0.186 1.7 33 69 77 192.02 193.52 1.

26 50 HQ 88 0.014 7.7 19 0.82% 625 288.51 2
50 HQ 88 0.014 7.7 19 0.82% 625 288.51 290.06 1.55 NTW 62 0.064 23.6 1.13% 3.69% 6.48% 294.13 297.18 3.05 NTW 98 0.016 2.5 100 375 0.12% 409.85 411.28 1.43 NTW 100 0.136 1.7 7 311 566 LB - DDH - 011 - 60 51.82 53.32 1.50 NTW 100 0.549 37.8 44 260 458 102.08 103.63 1.55 NTW 93 0.268 1.1 11 49 81 170.69 172.19 1.50 NTW 100 0.121 10.1 437 0.56% 0.47% 181.33 182.88 1.55 NTW 98 0.032 9.7 0.18% 0.28% 0.89% 182.88 183.99 1.11 NTW 97 0.03 23.6 0.42% 0.82% 3.27% 323.08 324.58 1.50 NTW 99 0.036 5.8 22 107 95 LB - DDH - 012 - 45 38.10 39.60 1.50 HQ 100 1.125 28.9 10 71 54 39.60 41.14 1.54 HQ 100 4.07 75 137 114 49 123.44 124.94 1.50 HQ 100 0.046 4

27 .4 645 648 0.34% 124.94 126.49 1.55 HQ 1
.4 645 648 0.34% 124.94 126.49 1.55 HQ 100 0.088 10.9 0.21% 0.11% 0.39% 126.49 127.99 1.50 HQ 100 0.386 26.4 0.13% 0.22% 0.24% 217.93 219.43 1.50 HQ 99 0.023 2.2 304 624 0.15% 28 GUADALUPE Y CALVO CONCLUSIONS • The Guadalupe y Calvo project area is a famous and highly prospective high grade gold - silver district in the Sierra Madres . • The property contains the historic Rosario mine, with historic resources estimated by Aurico in the Rosario and Nankin veins of 1 . 861 million tonnes indicated, grading 120 gpt silver and 2 . 4 gpt gold for 7 . 1 million ounces of silver and 142 , 000 ounces of gold ; plus 0 . 154 million tonnes in

28 ferred grading 94 gpt silver and 2 , 1 g
ferred grading 94 gpt silver and 2 , 1 gpt gold for 0 . 5 million oz silver and 11 , 000 oz gold • There is strong evidence of mineralization in other areas of the project, mainly in San Carlos and El Chapito , that have not been drilled . • Along the Rosario trend, there are another areas that need to be evaluated with more field work, supported by the large database of the project and the region, including geology, geochemistry, geophysics and drill core, which give a good potential to locate more resources . • A 20 hole, 5 , 000 m drill program is recommended to test for bonanza mineralization along strike and at depth from the