Endeavour to combine with Semafo to create a leading West African gold producer

Endeavour Mining Corporation (“Endeavour”) and SEMAFO Inc. (“SEMAFO”) are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”) whereby Endeavour will acquire all of the issued and outstanding securities of SEMAFO by way of a Plan of Arrangement under the Business Corporations Act (Québec) (the “Transaction”). The Transaction will create a top 15 global gold producer and the largest in West Africa with six operations and an attractive growth pipeline.

Due to the strong strategic rationale for local consolidation, both sets of Board of Directors have unanimously approved the Transaction.

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