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Endeavour Completes Acquisition of True Gold

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GEORGE TOWN, Grand Cayman, United Kingdom, April 26, 2016 (GLOBE NEWSWIRE) -- Endeavour Mining Corporation ("Endeavour") (TSX:EDV) (OTCQX:EDVMF) and True Gold Mining Inc. ("True Gold") (TSX-V:TGM) are pleased to announce the successful completion of the previously announced acquisition of True Gold.

Pursuant to a court-approved plan of arrangement (the "Arrangement"), shareholders of True Gold received 0.044 of an Endeavour ordinary share for each True Gold common share held. In addition, La Mancha Holding S.àr.l. ("La Mancha") exercised its anti-dilution right to maintain its 30% stake and invested CDN$82.6 million via an equity placement for 7,546,777 Endeavour ordinary shares.

Following the transaction close, Endeavour's issued and outstanding shares totalled approximately 84.3 million and its market capitalization amounted to approximately CDN$1.3 billion, based on Endeavour's closing price on the Toronto Stock Exchange on April 25, 2016.

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


About Endeavour Mining Corporation

Endeavour Mining is a TSX-listed intermediate gold mining company which operates 4 West African mines in Côte d'Ivoire, Mali, and Ghana. In 2016, it expects to produce between 535,000 and 560,000 ounces at an all-in sustaining cost of US$870 to US$920 per ounce, after adjustment of the recent Youga sale and excluding the Karma mine. Endeavour Mining 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.

Endeavour Mining | Executive Office | Bureau 76, 7 Boulevard des Moulins, Monaco 98000                                   

View News Release in PDF Format http://hugin.info/171882/R/2006855/741601.pdf

HUG#2006855

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