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Endeavour Silver to acquire 100% stake in San Juanico properties in Mexico

Posted on: Thu, 19 Nov 2009 05:10:00 EST

Symbols: EDR, EXK

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Nov 19, 2009 (M2 EQUITYBITES via COMTEX) --
EXK | Quote | Chart | News | PowerRating -- Silver mining company Endeavour Silver Corp (TSX: EDR | Quote | Chart | News | PowerRating) (TSX:EDR.WT)
(AMEX:EXK) (DBFrankfurt:EJD) said on Wednesday that the company has
acquired an option to purchase a 100% interest in the San Juanico
properties in Chihuahua State, Mexico.
A
The San Juanico properties are located adjacent to the El Cometa
property, which is part of the company's Parral exploration project
near the city of Hidalgo de Parral, Chihuahua State, Mexico.
A
Endeavour can acquire the 100% interest in the San Juanico properties
through cash payments of USD130,000 over 18 months and a final payment
of between a minimum of USD300,000 to a maximum of USD1.9m in 24 months.
A
The company said that the best model for the San Juanico-El Cometa
mineralised vein system may be the La Esmeralda mine located south of
El Cometa along the same Esmeralda vein system.
A
In addition, the company has signed a joint venture agreement with the
current owner of San Juanico and has paid an advance of USD150,000 as a
loan to share the development and production from the San Juanico
properties during the 24 month option period.
A
This phase one exploration drilling programme is expected to begin at
San Juanico in the first quarter 2010.

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