Endeavour Silver Produces 1,875,375 Oz Silver and 11,740 Oz Gold, for a total of 3.3 Million Silver Equivalent Oz in Q1 2026
Rhea-AI Summary
Endeavour Silver (NYSE: EXK) reported Q1 2026 production of 1,875,375 oz silver, 11,740 oz gold and 3.34 million AgEq oz. Consolidated throughput rose to 456,657 tonnes as Kolpa and Terronera added material, while Bolañitos was sold and some bullion inventory was held amid lower metal prices.
Operational notes: Kolpa commissioned new crushers and a 14'x24' ball mill; Guanaceví suffered a transformer outage; weather and moisture affected Kolpa throughput.
Positive
- Throughput +118% (456,657 t) in Q1 2026 versus Q1 2025
- Silver production +56% (1,875,375 oz) year-over-year
- Gold production +41% (11,740 oz) year-over-year
- Kolpa added 530,118 oz silver and commissioned new crushers and a 14'x24' ball mill
- Silver equivalent production +78% (3,341,943 AgEq oz)
Negative
- Guanaceví silver production -22% versus Q1 2025 due to 18% lower silver grades
- Guanaceví experienced a 2.5-day shutdown from a transformer failure, lowering throughput
- Bolañitos sale reduced company-wide production and contributed only 15 days of Q1 output
- Bullion inventory temporarily held due to downward pressure on silver and gold prices
- Kolpa ramp delayed by heavy rainfall and higher material moisture, reducing Q1 throughput
News Market Reaction – EXK
In the Apr 8 session, EXK gained 2.19%, reflecting a moderate positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 02 | Leadership changes | Neutral | -5.5% | Board and senior management updates tied to growth and project execution. |
| Feb 27 | FY 2025 results | Neutral | -0.9% | Record 2025 revenue and AgEq production but a sizable net loss reported. |
| Jan 16 | 2026 guidance update | Positive | +1.3% | Updated 2026 production, cost and capital outlook across core mines. |
| Jan 16 | 2026 guidance | Positive | +1.3% | Initial 2026 production and AISC guidance for Terronera, Guanaceví and Kolpa. |
| Jan 15 | Asset sale | Positive | +1.3% | Completion of US$40M sale of Bolañitos mine with contingent payments. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent stock reactions often leaned negative or muted even on operational or strategic updates, with board changes and record 2025 results both followed by small declines, while guidance and the Bolañitos sale saw modest gains.
Over the last few months, Endeavour Silver reported record 2025 revenue of $467.5M, ramped up Terronera to commercial production, and integrated the Kolpa acquisition, driving 11.2M AgEq oz in 2025. It also issued $350M of convertible notes, completed the US$40M sale of Bolañitos, and set 2026 guidance of 8.3–8.9M oz silver and 46–48K oz gold. Board and management changes in March 2026 aimed to support this growth phase. The Q1 2026 production update fits into this ramp-up and portfolio-transition narrative.
Key Terms
silver equivalent financial
grams per tonne technical
ni 43-101 regulatory
ball mill technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, British Columbia, April 08, 2026 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) reports first quarter 2026 production of 1,875,375 silver ounces (“oz”), 11,740 gold oz, and in combination with base metals, a silver equivalent (1) (“AgEq”) production of 3.3 million oz. All dollar amounts are in US dollars ($).
"We are pleased to report robust production for the first quarter of 2026, highlighted by steady performance at Terronera, which delivered improved grades and recoveries without any significant shutdowns,” commented Dan Dickson, Chief Executive Officer. “Guanaceví continued to perform consistently, and Kolpa not only enhanced its processing capabilities despite adverse weather but is now set to increase production to 2,500 tonnes per day for the quarters ahead. Our team's dedication and adaptability have been instrumental in navigating market conditions and operational transitions, laying a solid foundation for the rest of the year."
Q1 2026 Production Overview
- Terronera Ramp up and Optimization: Throughput was consistent with plan, while metal recoveries improved through continued process refinement. March recoveries were in line with management targets and are expected to continue going forward.
- Guanaceví Shows Resilience: Due to lower silver grades and lower plant throughput than planned, silver production was slightly below plan with gold grades and recoveries in line with plan.
- Kolpa Plant Expansion: During March 2026, new crushers and a new 14´x 24´ ball mill were commissioned to enable throughput of 2,500 tonnes per day (tpd) in the upcoming quarters. A high intensity of rainfall during the quarter increased moisture content of processed material and caused limited power outages, slowing down crushing and plant operations and reducing throughput and metal production, with continued stable grades and recoveries.
- Bolañitos Sale Finalized: On January 15, 2026 the Company completed the sale of the Bolañitos silver and gold mine (see news release from November 24, 2025 here). The first 15 days of 2026, mine production are included in the Company’s production results.
- Metal Sales and Inventories: Sold 1,642,220 silver ounces and 10,942 gold ounces during the first quarter. A total of 419,699 silver ounces and 1,405 gold ounces of bullion inventory and 72,048 silver ounces and 575 gold ounces in concentrate inventory were held as at March 31, 2026. At the end of the first quarter, silver and gold prices experienced downward pressure and management decided to hold bullion inventory temporarily.
Q1 2026 Mine Operations
Consolidated silver production was 1,875,375 oz in Q1 2026, slightly below plan, and
Consolidated gold production was 11,740 oz in Q1 2026,
Terronera’s production was in line with plan and is expected to increase during the year as mine development accesses higher-grade areas by Q3 2026. The February security events in Jalisco had minimal impact at Terronera. Operations were paused for three days to ensure safety of our employees, with a minor impact on overall throughput. Terronera recoveries averaged
Guanaceví throughput was
In Q1 2026, Kolpa's throughput was 171,727 tonnes producing 530,118 oz of silver. The material processed had average grades of 106 g/t silver and
Consolidated Production Highlights for the Three Months Ended March 31, 2026
| Three Months Ended March 31, 2026 | |||
| 2026 | 2025 | % Change | |
| Throughput (tonnes) | 456,657 | 209,507 | |
| Silver ounces produced | 1,875,375 | 1,205,793 | |
| Gold ounces produced | 11,740 | 8,338 | |
| Lead tonnes produced | 4,939 | - | N/A |
| Zinc tonnes produced | 2,842 | - | N/A |
| Copper tonnes produced | 66 | - | N/A |
| Payable silver ounces produced | 1,815,142 | 1,193,358 | |
| Payable gold ounces produced | 11,375 | 8,188 | |
| Silver equivalent ounces produced1 | 3,341,943 | 1,872,833 | |
| Silver ounces sold | 1,642,220 | 1,223,684 | |
| Gold ounces sold | 10,942 | 8,538 | |
1 Silver equivalent (AgEq) is calculated using 90 silver oz to 1 gold oz; 45 silver oz to 1 lead tonne; 61 silver oz to 1 zinc tonne; 238 silver oz to 1 copper tonne
Totals may not add up due to rounding
Production Tables for the Three Months Ended March 31, 2026 for the Mexican Operating Mines
| Three Months Ended March 31, 2026 | Terronera | Guanacevi | Bolanitos |
| Tonnes processed | 175,418 | 95,524 | 13,988 |
| Tonnes per day | 1,949 | 1,061 | 933 |
| Silver ounces produced | 533,301 | 793,560 | 18,396 |
| Silver grade g/t | 113 | 285 | 47 |
| Silver recovery | |||
| Gold ounces produced | 8,478 | 2,769 | 493 |
| Gold grade g/t | 2.07 | 1.02 | 1.27 |
| Gold recovery | |||
| Silver Equivalent ounces produced(1) | 1,296,348 | 1,042,779 | 62,766 |
Totals may not add up due to rounding
Production Tables for the Three Months Ended March 31, 2026 for the Peruvian Operating Mine
| Three Months Ended March 31, 2026 | Kolpa |
| Tonnes processed | 171,727 |
| Tonnes per day | 1,908 |
| Silver ounces produced | 530,118 |
| Silver grade g/t | 106 |
| Silver recovery % | |
| Lead tonnes produced | 4,939 |
| Lead grade % | |
| Lead recovery % | |
| Zinc tonnes produced | 2,842 |
| Zinc grade % | |
| Zinc recovery % | |
| Copper tonnes produced | 66 |
| Copper grade % | |
| Copper recovery % | |
| Silver Equivalent ounces produced(1) | 940,050 |
Totals may not add up due to rounding
About Endeavour Silver
Endeavour is a mid-tier silver producer with three operating mines in Mexico and Peru and a robust pipeline of exploration projects across Mexico, Chile, and the United States. With a proven track record of discovery, development, and responsible mining, Endeavour is driving organic growth and creating lasting value on its path to becoming a leading senior silver producer.
Qualified Person
Dale Mah, P.Geo., Vice President Corporate Development, a qualified person under NI 43-101, has approved the scientific and technical information related to operations matters in this news release.
Q1 2026 Financial Results and Conference Call
Q1 2026 financial results will be released after market close on Wednesday May 6, 2026, and Management will host a conference call the next day, Thursday May 7, 2026, at 10:00 a.m. Pacific Time / 1:00 p.m. Eastern Daylight Time to discuss the results.
| Date: | Thursday May 7, 2026 |
| Time: | 10:00am Pacific Time / 1:00pm Eastern Daylight Time |
| Telephone: | Canada & US + 1-833-752-3348 |
| International + 1-647-846-2804 | |
| Replay: | Canada & US +1- 855-669-9658 |
| International +1-412-317-0088 | |
| Access code is 7015869; audio replay will be available on the Company’s website | |
Contact Information
Allison Pettit
Vice President, Investor Relations
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include, but are not limited to, statements regarding increased production at Kolpa; operations at the Company’s properties continuing to meet management targets; ramp up of production at Terronera; mining operations; improvement of recoveries; the Company’s plans to drive organic growth, create lasting value and become a leading senior silver producer; and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on mine economics; changes in national and local governments’ legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA, Mexico and Peru; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including, but not limited to environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits; fluctuations in the prices of silver and gold; fluctuations in currency markets (particularly the Mexican peso, Peruvian sol, Chilean peso, Canadian dollar and U.S. dollar); and challenges to the Company’s title to properties; as well as those factors described in the section “Risk Factors” contained in the Company’s most recent form 40F/Annual Information Form Dated March 27, 2026 filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
