Endeavour Silver is building its next growth engine.

Key Concepts

• Pitarrilla Project: A major mining development project.
• Feasibility Study (FS): A comprehensive analysis to determine the economic and technical viability of a mining project.
• Capital Expenditure (CapEx): Funds used by a company to acquire, upgrade, and maintain physical assets.
• Detailed Engineering: The phase of project design that provides the technical specifications required for construction.
• Infill Drilling: A drilling method used to increase the density of data points in a mineral deposit to improve resource confidence.

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2026 Strategic Roadmap for Pitarrilla

The company has allocated a significant budget of $68 million for the Pitarrilla project in 2026, focusing on two primary pillars: finalizing the feasibility study and advancing project engineering.

1. Feasibility Study Completion

• Budget Allocation: $15 million.
• Objective: To provide the market with definitive data regarding the total cost of construction, projected capital expenditure over the mine's life, and the total duration of the mine's operations.
• Timeline: The study is scheduled for release by July or August 2026.
• Projected Mine Life: The company anticipates a mine life spanning 15 to 20 years.

2. Project Advancement and Engineering

• Budget Allocation: $53 million.
• Engineering Milestones: The company aims to have 25% of detailed engineering completed by the end of 2026. This follows the completion of basic engineering phases.
• Infrastructure and Procurement:
  • Construction Camp: Initiation of the construction of a dedicated camp to support on-site operations.
  • Equipment Acquisition: Procurement of mobile fleets and plant equipment, which are essential for conducting accurate, detailed engineering and site preparation.
• Exploration: Continued infill drilling is being conducted to further validate the resource model and increase confidence in the deposit's geological data.

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Synthesis and Conclusion

The 2026 strategy for Pitarrilla is heavily focused on de-risking the project and transitioning from conceptual planning to tangible infrastructure development. By investing $68 million, the company is prioritizing the delivery of a robust feasibility study to provide market transparency while simultaneously building the physical and technical foundation—through engineering, camp construction, and equipment procurement—necessary for long-term operations. The ultimate goal is to confirm the project's viability for a 15–20 year production cycle.