No Golden Parachute 💸 Just a $29M Crash Landing! 💥

The total value of remuneration forfeited and being clawed back is USD 29.1 million.

The total value forfeited is USD 17.6 million, based on:

› Mr Montessus’ expected 2023 annual bonus, which was c. USD 2 million, and

› Unvested share awards (USD 15.6 million2).

In addition, the Remuneration Committee has exercised its discretion to apply clawback in full to the USD 10 million one-off award granted to Mr de Montessus in 2021 and the USD 1.5 million cash portion of the bonus received for 2022. Part of the USD 11.5 million will be set off against Mr de Montessus’ remaining vested 2020 LTIP award and the vested portion of his 2021 LTIP award (worth c. USD 8.8 million in aggregate based on yesterday’s share price) and he will be required to repay the remainder.

The total value of remuneration forfeited and being clawed back is USD 29.1 million.

The Board of Directors of Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) today announces the termination of the President and Chief Executive Officer, Sébastien de Montessus, for serious misconduct with immediate effect. This follows an investigation by the Board into an irregular payment instruction issued by him in relation to an asset disposal undertaken by the Company. The amount of this irregular payment instruction is US$5.9 million. The Board recently became aware of this in the course of a review of acquisitions and disposals, which is ongoing. Sébastien de Montessus has been removed from the Company’s Board of Directors with immediate effect.

The 2024 OTCQX Best 50 is a ranking of top performing companies on the OTCQX Best Market based on 2023 total return and average daily dollar volume growth. Congratulations to our top performers.

Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports production results for the fourth quarter and full year 2023 from its five operating mines in Latin America and West Africa. For the full year 2023, Fortuna produced a record 326,638 ounces of gold and 5,883,691 ounces of silver or a record 452,389 gold equivalent ounces, including lead and zinc by-products1. All references to dollar amounts in this news release are expressed in US dollars.

Cash cost and AISC:

The Company expects a 2024 cash cost between $865 and $965 per ounce of gold, an increase of approximately 29 percent over 2023 at the upper range, and 16 percent at the lower range of guidance. The increase is due primarily to the reallocation of fixed mining costs from capex to opex and  lower processed ore.

The Company expects a 2024 AISC between $1,220 and $1,320 per ounce of gold, a decrease of approximately 7 percent under 2023 at the upper range, and 14 percent at the lower range of guidance. The decrease is explained by lower capex year over year of approximately $250 per ounce of gold.

About Benjamin Hill Mining Corp.

Benjamin Hill Mining Corp. is a Canadian-listed junior exploration company focused on exploring and developing the Alotta project in the Canadian Yukon Territory, and holds a 20% interest in Aion Mining Corp. that is developing La Estrella, a permitted coal project located in Santander, Colombia.

The Alotta project is a prospective porphyry copper-gold-molybdenum project, located 50 km south of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt. The Aion Mining Corp. La Estrella project is fully permitted and contains eight known seams of metallurgical and thermal coal.