Name and Location
Agbaou gold project, Côte d’Ivoire.

Client
Endeavour Mining.

Project Description
Agbaou has proven and probable reserves of 11.075-million tonnes, with a grade of 2.54 g/t of gold. The project will involve the development of an openpit mine and a gold plant designed to treat 1.6-million tonnes a year of saprolite ore or 1.34-million tonnes a year of bedrock ore. The plant design incorporates a conventional gravity and carbon-in-leach circuit for a recovery rate of 92.5%. Average gold production of 103 000 oz/y over an eight-year mine life is expected.

Value
A total of $159-million, which includes construction capital costs of $121-million and preproduction mining costs, working capital and contingencies of $38-million.

Duration
Gold production is expected in the first quarter of 2014.

Latest Developments
Endeavour Mining has started mining operations at the South pit of the Agbaou mine.

The project is more than 90% complete and remains on budget.

Power line tower construction and stringing of the 15 km 91KV line are complete and the high-voltage transformer at the Agbaou substation has been installed.

Delivery of mining equipment continues, including two D9 dozers, seven of the 777 haul truck fleet, and two Liebherr 9350 excavators.

The run-of-mine starter pad and mine services area construction is complete.

Process plant construction is 94% complete.

Major reagents have arrived on site, with commissioning, operational and insurance spares also on site.

Recruitment of staff and contract workers is progressing well and includes a focused effort to hire from local communities. All management positions have been secured.

Recent community projects include construction of a local primary school and teachers' quarters (completed in August) and the rehabilitation of the maternity health centre and midwife housing.

Key Contracts and Suppliers
Lycopodium Minerals (EPCM), BCM International (mining contract) and SRK (mineral resource and reserve estimate).

On Budget and on Time?
None stated.

Contact Details for Project Information
Endeavour Mining VP: investor relations Marla Gayle, tel +1 604 609 6117 or email investor@endeavourmining.com.
Lycopodium Minerals, tel +61 8 6210 5222 or fax +61 8 6210 5201.
SRK, tel +27 21 659 3060 or fax +27 21 685 7105.
BCM International, tel +233 30 7010300, fax +233 302 777452 or email info@bcmgh.com.