Endeavour Mining Announces Results
of Annual General Meeting
View News Release in PDF Format
George Town, June 28, 2016 - Endeavour Mining Corporation (TSX:EDV)(OTCQX:EDVMF) is pleased to announce the voting results of its Annual General Meeting of Shareholders held on Tuesday, June 28, 2016. Shareholders voted to re-elect the nominees for the Company's Board of Directors ("The Board").
Sébastien de Montessus has been appointed as Chief Executive Officer ("CEO"), effective today, replacing Mr. Neil Woodyer who has also decided to step down from the Board. The Board of Directors wishes to thank Mr. Woodyer for his significant contribution to the growth of the Company.
Michael Beckett, Chairman of the Board of Directors commented, "I am pleased that all proposed resolutions have been passed and thank all our shareholders for their continuing support. I would like to pay particular tribute to Neil Woodyer as he steps down as CEO. It was Neil's vision that created Endeavour, and under his leadership the business has grown from a single operating mine to become a leading West African gold producer with 5 mines in operation and 2 advanced development projects. He created a company that has delivered significant value for shareholders and he leaves it well placed to continue its growth trajectory. On behalf of the company and its investors, we thank him for his considerable achievements and wish him every success for the future."
"I would also like to welcome Sebastien de Montessus as CEO. We are very pleased that he will lead the company in the next phase of its development. Sebastien's experience and expertise in the mining industry ensures that Endeavour is in good hands as we continue to pursue our growth strategy. In addition, over the coming months we plan to review and improve our corporate governance to achieve industry best practice," added Mr. Beckett.
Sébastien de Montessus, CEO of Endeavour, said: "Neil should be rightly proud of his achievements. He led the growth of a company that today contains a portfolio of low cost assets with exceptional prospects for future growth, including Hounde, Ity and Karma, and that is backed and supported by a strong balance sheet and a quality team with a first class track record of project construction and operation. I am very excited to lead Endeavour into the next phase of its growth and to generate value for the company's shareholders and stakeholders."
The results for each resolution were as follows:
| Resolution | Votes For | % For | Votes Withheld | % Withheld |
| Elect Michael Beckett | 38,715,255 | 67.49% | 18,652,401 | 32.51% |
| Elect Ian Cockerill | 57,134,342 | 99.59% | 233,314 | 0.41% |
| Elect Frank Giustra | 57,316,574 | 99.91% | 51,082 | 0.09% |
| Elect Ian Henderson | 54,009,767 | 94.15% | 3,357,889 | 5.85% |
| Elect Wayne McManus | 52,869,561 | 92.16% | 4,498,095 | 7.84% |
| Elect Sébastien de Montessus | 57,313,641 | 99.91% | 54,015 | 0.09% |
| Elect Miguel Rodriguez | 56,181,240 | 97.93% | 1,186,416 | 2.07% |
| Elect Naguib Sawiris | 56,032,936 | 97.67% | 1,334,720 | 2.33% |
| Appoint Deloitte LLP | 60,837,119 | 99.73% | 164,748 | 0.27% |
About Endeavour Mining Corporation
Endeavour Mining is a TSX-listed intermediate gold producer, focused on developing a portfolio of high quality mines in the prolific West-African region, where it has established a solid operational and construction track record.
Endeavour is ideally positioned as the major pure West-African multi-operation gold mining company, operating 5 mines in Côte d'Ivoire (Agbaou and Ity), Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2016, it expects to produce between 535koz and 560koz at an AISC of US$870 to US$920/oz, excluding Karma which is in the commissioning stage. Endeavour is currently building its Houndé project in Burkina Faso, which is expected to commence production in Q4-2017 and to become its flagship low-cost mine with an average annual production of 190koz at an AISC of US$709/oz over a 10-year mine life based on reserves. The development of the Houndé project is expected to lift Endeavour's group production +900kozpa and decrease its average AISC to circa $800/oz by 2018, while exploration aims to extend all mine lives to +10 years.
Contact Information
| Vincent Benoit EVP - Strategy & Business Development +33 (0)1 70 38 36 96 vbenoit@endeavourmining.com Martino De Ciccio VP - Strategy & Investor Relations +33 (0)1 70 38 36 95 mdeciccio@endeavourmining.com | DFH Public Affairs in Toronto John Vincic (416) 206-0118 x.224 jvincic@dfhpublicaffairs.com Brunswick Group LLP in London Carole Cable, Partner +44 7974 982 458 ccable@brunswickgroup.com |
Endeavour Mining | Executive Office | Bureau 76, 7 Boulevard des Moulins, Monaco 98000
This news release contains "forward-looking statements" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.
