Endeavour Mining Unveils 2026-2030 Exploration Outlook

(RTTNews) - Endeavour Mining plc (EDV.L, EDV.TO, EDVMF) announced a new exploration outlook that aims to discover between 12 and 15 million ounces (Moz) of mineral resources over the five-year period from 2026 to 2030, at an average discovery cost of less than $40 per ounce.

The company's 2026-2030 Exploration Programme will involve a total expenditure of approximately $540 million. The discovery target includes 6-9Moz through near-mine exploration and a further 6Moz through greenfield discoveries, with expectations of identifying two to three new greenfield projects that could evolve into cornerstone assets for Endeavour.

The new programme builds on the success of Endeavour's two previous exploration campaigns conducted between 2016 and 2025, which delivered 20.7Moz of measured and indicated resources. That achievement represented 2.4 times production depletion at an industry-leading discovery cost of less than $25 per ounce.

Exploration continues to underpin Endeavour's organic growth strategy and remains a core capital allocation priority. The company expects its average annual exploration spend to exceed $100 million over the 2026-2030 period, reinforcing its commitment to resource replacement and long-term growth.

As part of the programme, Endeavour's brownfield exploration is targeting 6-9Moz of mineral resources at a discovery cost of less than $40 per ounce. This will involve screening approximately 50 targets across 7,000km² of exploration tenure in Côte d'Ivoire, Senegal, and Burkina Faso. Focused on areas surrounding existing operations, the brownfield programme is designed to replace ounces depleted through production, extend mine lives, and maintain or improve reserve and resource grades to ensure consistently high ore quality.