07:06 EST Tuesday, March 08, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2011) - Endeavour Silver Corp. (TSX:EDR)(NYSE Amex:EXK)(DBFrankfurt:EJD) announced today that for the seventh consecutive year, the Company has grown its silver and gold resources in Mexico.

Endeavour released today its updated NI 43-101 reserve and resource estimates to December 31, 2010 (see table below) for its two producing silver mines (the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State) and two exploration projects (the Parral Project in Chihuahua and Arroyo Seco Project in Michoacán) in Mexico.

Endeavour's reserves dipped by year-end as a result of mine production exceeding forecast targets and mine development falling behind schedule. Notwithstanding the decrease in reserves the Company's Indicated Resources gained 16% to 27.4 million oz. and Inferred Resources increased by 62% to 29.7 million oz. In addition, the Company plans to accelerate mine development this year in order to once again expand the reserves in 2011. The reserve and resource highlights are as follows:

2010 Reserve/Resource Highlights

• Silver Proven and Probable Reserves down 19% to 13.4 million ounces (oz); Guanacevi 12.0 million oz and Guanajuato 1.4 million oz.
  
  
• Gold Proven and Probable Reserves down 9% to 40,000 oz; Guanacevi 22,000 oz and Guanajuato 18,000 oz.
  
  
• Silver Equivalent Proven and Probable Reserves down 18% to 15.9 million oz; Guanacevi 13.4 million oz and Guanajuato 2.5 million oz.
  
  
• Silver Indicated Resources up 16% to 27.4 million oz; Guanacevi 17.2 million oz, Guanajuato 7.6 million oz and Parral 2.6 million oz.
  
  
• Gold Indicated Resources up 53% to 182,000 oz; Guanacevi 34,000 oz, Guanajuato 101,00 oz and Parral 47,000 oz.
  
  
• Silver Equivalent Indicated Resources up 19% to 37.3 million oz; Guanacevi 19.2 million oz, Guanajuato 13.1 million oz and Parral 5.0 million oz.
  
  
• Silver Inferred Resources up 62% to 29.7 million oz; Guanacevi 14.5 million oz, Guanajuato 7.3 million oz, Parral 2.7 million oz and Arroyo Seco 5.2 million oz.
  
  
• Gold Inferred Resources up 52% to 169,000 oz; Guanacevi 30,000 oz, Guanajuato 100,000 oz, Parral 37,000 oz, Arroyo Seco 2,000 oz.
  
  
• Silver Equivalent Inferred Resources up 52% to 38.9 million oz; Guanacevi 16.3 million oz, Guanajuato 12.8 million oz, Parral 4.5 million oz, Arroyo Seco 5.3 million oz.
  
  
  • Mineral resources are exclusive of the mineral reserves.
    
    
  • Proven Reserves are determined as being with 10 meters of development while Probable reserves are a further 15 meters. In both cases mine plans have been developed on the reserves.
    
    
  • Mine plans are developed on the Reserves and Indicated Resources but the Resources are discounted in the mine plan.
    
    
  • Mineral reserves have demonstrated economic viability whereas mineral resources do not.
    
    
  • 2009 silver equivalents based on 65:1 silver:gold ratio, base metals not included.
    
    
  • 2010 silver equivalents based on 50:1 silver:gold ratio for exploration and 65:1 for the mines, base metals not included.
    
    
  • All assumptions used are listed at the bottom of the reserve and resource summary table.

Bradford Cooke, Chairman and CEO, commented, "We are gratified to see our combined reserves and resources rise once again to a record high last year, notwithstanding our 6th consecutive year of production growth. The numbers speak to the ability and success of our exploration team at discovering new, high grade silver-gold deposits year after year within these historic Mexican silver districts."

"Last year, it was our Epsilon/La Blanca/Noche Buena discoveries in the San Pedro area of Guanacevi, the Lucero/Karina/Fernanda/Daniela discoveries in Guanajuato and the San Juanico extension in Parral that helped drive our resource growth. In 2011, Endeavour will continue to focus on the organic growth of its reserves/resources in Guanacevi and Guanajuato through its ongoing strategic acquisition and exploration programs within these districts."

"However, we are also looking to new acquisitions such as the San Sebastian properties in Jalisco and other pending property deals to help fuel our resource growth this year. Management will continue to evaluate M&A opportunities as a means to accelerate Endeavour's growth profile."

Barry Devlin, M.Sc., P. Geo., the Vice President of Exploration for Endeavour, is the Qualified Person who reviewed this news release and supervised the updated reserve and resource estimates. Endeavour mine and exploration personnel prepared the updated reserves and resources to December 31, 2010 for the Guanacevi and Guanajuato mines.

Endeavour retained Micon International Limited (Micon) to independently audit the updated reserves and resources for the Guanacevi and Guanajuato mines and also for the Parral project. The Qualified Persons for Micon are William J. Lewis, B.Sc., P.Geo., Charley Murahwi, M.Sc., P.Geo, MAusIMM, Dibya Kanti Mukhopadhyay, MAusIMM, Robert J. Leader, P.Eng.,. Micon's report for the Parral project has been filed on Sedar and the reports for Guanacevi and Guanajuato will be filed on SEDAR before the end of March once they have been completed. The Arroyo Seco report was authored by David St Clair Dunn B.Sc.,P.Geo and Barry Devlin M.Sc., P. Geo, who are both Qualified Persons and it will be filed on Sedar at the same time as the Guanacevi and Guanajuato reports.

These reserve and resource statements were classified following the definitions and guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum CIM standards and definitions on Mineral Resources and Reserves and the guidelines of NI 43-101.

ENDEAVOUR SILVER CORP.

Bradford Cooke, Chairman and CEO

About Endeavour Silver Corp. – Endeavour Silver is a mid-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted six consecutive years of growing silver production, reserves and resources. The organic expansion programs now underway at Endeavour's two operating silver mines in Mexico combined with its strategic acquisition and exploration programs should help Endeavour achieve its goal to become the next premier mid-tier silver mining company.