Endeavour Mining reports nine-month gold production of 346,000 ozs

Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) announces gold production of 117,612 ounces during Q3 2014 and nine-month production of 346,041 ounces.

VANCOUVER, Oct. 14, 2014 /CNW/ - Endeavour has achieved ~83% of our full year 2014 production guidance of 400,000 to 440,000 ounces after nine months of operations.  Gold production results by mine are provided in Table 1.  On a year-to-date basis, the Agbaou, Nzema and Youga mines are all ahead of the mid-point of the production guidance ranges for each mine.  The Tabakoto Mine is behind its full year production target and is the focus of our operations team during the on-going ramp up of the new Segala underground mine.  During September, Segala exceeded its ore production target and achieved 1,490 tpd.  The Tabakoto operations will further benefit from the new Kofi C open pit mine in 2015, as a third source of ore, and construction of the Kofi access road commenced during Q3 2014. 

Neil Woodyer, CEO, stated
"With the above-guidance production performance for the Group so far this year, we expect to exceed the upper end of our 400,000 to 440,000 ounce gold production guidance range for 2014. Cash cost and all-in sustaining cost per ounce will be reported in the third quarter 2014 financial results to be released in mid-November, however, it is expected that the group all-in sustaining cost per ounce for the third quarter of 2014 will be similar to the second quarter which was $1,021 per ounce. The cash balance at the end of the third quarter was approximately $55 million."

Agbaou

Agbaou continues to perform strongly and has already exceeded the original guidance of 85,000 to 95,000 ounces for the year. The Agbaou plant throughput is running approximately 37% higher than the original plant design of 1.6 Mtpa in the softer oxide ore and the plant is able to process up to 2.2 Mtpa of this feed. In addition to a higher throughput rate, the density and grades of ore processed to date are higher than anticipated.  Grade control reconciliation to the resource block model is within 7%.  

Tabakoto

Tabakoto continues to ramp up ore production from the new Segala underground mine and improve production and development at the owner operated Tabakoto underground mine. Segala production has ramped up to 1,400 ore tonnes per day and is producing reliably from two stopes with ongoing development ensuring sustainable stoping production in coming months.  Since the conversion to owner mining in April the development has increased from 386 metres per month to 508 metres per month. An increase in ore tonnes from the underground sources at improved grades is expected for Q4.  The continuing Segala ramp-up has resulted in higher costs in Q3 but will see the impact of improved gold production and productivity in Q4 at Tabakoto. 

Grade from the Djambaye open pit was below plan due to excessive dilution especially in the last stages of open pit mining.  The Kofi road construction commenced during the quarter with the alignment survey and clearing is well underway.  Kofi C will commence production in Q1 to replace the Djambaye open pit.

A pebble crusher was commissioned in the Tabakoto mill at the end of the quarter and will help with throughput when processing harder ore.  A new tailings storage dam was completed and deposition commenced during the quarter.

Nzema

Nzema had a temporary decrease in gold production for the quarter.  Issues during the quarter included throughput challenges dealing with the hardness of some of the ore feed from the Adamus pit and grade variances within the planned mine blocks.  Installation of a pebble crusher is underway (85% complete) which will assist in processing harder ores in the future.  Analysis of grade variances indicate higher grades in the mine blocks planned for Q4.

Periodic heavy rainfall and a higher than anticipated water table impacted mining from the Aliva pit.

Youga

Youga delivered another solid quarter in spite of a mill reline and six days of power outages.  Preparations continue for commencement of mining from the A2NE and Zergore pits in Q1 2015.

Qualified Persons

Adriaan "Attie" Roux, Pr.Sci.Nat, Endeavour's Chief Operating Officer, is a Qualified Person under NI 43-101, and has reviewed and approved the technical information related to mining operations in this news release.

About Endeavour Mining Corporation

Endeavour is a Canadian-based gold mining company producing over 450,000 ounces per year from four mines in West Africa.  Endeavour is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.

On behalf of Endeavour Mining Corporation

Neil Woodyer
Chief Executive Officer

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, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such 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.

SOURCE Endeavour Mining Corporation