Endeavour Silver Corp. has announced the acquisition of the Pitarrilla Project in Mexico from SSR Mining Inc.

The Pitarrilla is an undeveloped silver deposit located 160 km north of Durango City, in northern Mexico. The deposit comprises 4,950 ha across five concessions and has a significant infrastructure with direct access to utilities.

Endeavour purchased Pitarrilla by acquiring all the issued and outstanding shares of SSR Durango, S.A. de C.V. from SSR Mining and Silver Standard Ventures Inc. for total consideration of approximately US$70 million, comprising US$34.90 million in Endeavour common shares and a further US$35.06 million in cash, and a 1.25% net smelter returns royalty on Pitarrilla. As a result, 8,577,380 Endeavour common shares were issued based on a deemed price of US$4.07 per share. The shares are subject to a hold period of four months and one day following the date of closing. Following the transaction, SSR Mining owns 4.52% of the issued and outstanding common shares of Endeavour.