Endeavour Silver Achieves Fourth Consecutive Year of Record Silver Production in 2008, Targets Substantial Growth in 2009

VANCOUVER, BRITISH COLUMBIA - Endeavour Silver Corp. (TSX: EDR)(NYSE Alternext US: EXK)(DBFrankfurt: EJD) announces that the Company achieved its fourth consecutive year of record silver production in 2008, totaling 2.34 million ounces silver, up 9% over 2007.

Silver production in Q4, 2008 from the Company's two operating silver mines in Mexico, Guanacevi and Guanajuato, was a record 691,347 oz silver, up 10% over the Third Quarter, 2008 and up 8% over Q4, 2007. The new all-time high silver production can largely be attributed to the successful rehabilitation and re-commissioning of the Guanajuato Mines project, which was acquired in May 2007 but only re-commenced commercial production in June, 2008 after completion of major mine rehabilitation and safety upgrade programs.

To view the Guanajuato Mines Project, please click here: .

In addition, gold production rose sharply in 2008 to 8,187 oz gold, up 27% compared to 2007. The increased gold production can also be attributed to re-commissioning of the Guanajuato Mines project as it has significantly higher gold grades compared to Guanacevi. Expressed as silver equivalents based on a silver: gold ratio of 75: 1, Endeavour's combined silver and gold production amounted to 881,397 oz silver equivalents in Q4, 2008 and 2.95 million oz silver equivalents in 2008, up 19% over 2007.

To view the Guanacevi Mines Project, please click here: http://www.edrsilver.com/s/Guanacevi.asp.

Endeavour plans to release an overview of its 2008 exploration activities by the end of January, 2009 and a more detailed review of its 2008 mining operations and 2009 production forecast in February, 2009. The 2008 year-end financial results and 2009 financial outlook will be released in late March, 2009.

Bradford Cooke, Chairman and CEO, commented, "We are pleased to announce that Endeavour beat its revised production forecast of 2.3 million oz silver for 2008, notwithstanding our decision in September to slow production growth so long as the silver price remains depressed. Management is of the belief that the silver price will rebound in 2009 so we plan to use this time of lower silver prices to accelerate the development of new ore-bodies that will facilitate our next phase of production growth."

"Once the silver price bounces back, and our accelerated mine development projects are well underway, we plan to resume our aggressive production growth so as to achieve our 5th consecutive year of record silver production. Endeavour's two operating silver mines should be able to more than double their silver production over the next two and a half years in order to fill the two process plants to their operating capacities. Management will also continue to seek opportunities for growth by acquisitions in 2009."

Endeavour Silver Corp. (TSX: EDR)(NYSE Alternext US: EXK)(DBFrankfurt: EJD) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato State, should propel Endeavour into the ranks of mid-tier primary silver producers.

ENDEAVOUR SILVER CORP.

Bradford Cooke, Chairman and CEO

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

Certain statements contained herein constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian and United States securities agencies. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.



The TSX Exchange has neither approved nor disapproved the contents of this news release.


Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
© MarketWire 2009

Pan American Silver Announces Third Quarter Results

Silver Production Increases, Manantial Espejo Commissioning Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2008) -

(All amounts in US dollars unless otherwise stated and all production figures are approximate)

Pan American Silver Corp. (TSX:PAA)(NASDAQ:PAAS) today reported unaudited financial and operating results for the quarter ended September 30, 2008. The Company also provided an update on its mining operations as well as its project development activities, which includes the startup of its new Manantial Espejo mine in Argentina and the expansion of its San Vicente mine in Bolivia.

This earnings release should be read in conjunction with the Company's MD&A, Financial Statements and Notes to Financial Statements for the corresponding period, which are available on the Company's website at www.panamericansilver.com, and have been posted on SEDAR at www.sedar.com.

Third Quarter 2008 Highlights(1)

- Quarterly silver production of 4.9 million ounces, up 9% from Q3 2007

- Cash costs(2) increased to $6.61 per payable ounce of silver

- Sales of $79.5 million

- Cash flow from operations of $22.7 million.

- Mine operating earnings(2) of $15.5 million.

- Net income of $6.4 million or $0.08 per share

- Adjusted net income(3) of $11.3 million or $0.14 per share

- Commissioning of Manantial Espejo mine in Argentina is underway, with first silver and gold production expected approximately 5 weeks from today

- Discovery of a significant new high grade silver zone at the Morococha mine in Peru

- Production forecast for 2008 maintained at 18.8 million ounces of silver

(1) Financial information in this news release is based on Canadian GAAP

(2) Mine operating earnings and cash costs are non-GAAP measures. For a detailed description of these measures please refer to page 3 and page 8 of the MD&A.

(3) Adjusted net income is equal to net income, excluding an unrealized loss of $2.9 million on currencies held in denominations other than US dollars and a loss of $2.0 million on re-pricing of previously recognized concentrate sales.

"There is no question that our financial results were negatively impacted by the sharp decline in base metal and silver prices that started in the middle of the third quarter and gathered speed towards the end of September" said Geoff Burns, President and CEO. "However, we increased our silver production, still generated net earnings for a 10th consecutive quarter, delivered a respectable $22.7 million in operating cash flow, maintained a healthy working capital position with no debt and are now starting up our newest and lowest cost silver and gold mine. In short, we are well positioned to continue to deliver growth, weather the difficult price environment we have just entered and at the same time take advantage of the strategic opportunities that are becoming more prevalent."

Financial Results

Pan American posted sales of $79.5 million during the third quarter of 2008, a 10% decline year over year. Although the realized silver price increased 19% relative to the same period last year, this was offset by significantly lower realized base metal prices. Zinc prices were 45% lower than in the third quarter of last year while lead prices declined 39% over the same period.

Mine operating earnings for the quarter decreased to $15.5 million from $29.1 million in the comparable period in 2007, while consolidated net income decreased to $6.4 million or $0.08 per share. Included in net income for the quarter was an unrealized $2.9 million loss on currencies held in denominations other than US dollars and $2.0 million in negative pricing adjustments on concentrates previously included in sales. Excluding these two items, adjusted net income was $11.3 million or $0.11 per share. The lower net income and lower mine operating earnings during the current quarter were primarily caused by the decline in base metal prices, largely zinc and higher cash production costs and depreciation charges.

During the quarter the Company generated $22.7 million in cash flow from operating activities, while investing $33.6 million in construction of the new Manantial Espejo mine and $14.2 million in the expansion of the San Vicente mine. The Company also incurred capital expenditures of $11.8 million at its other operations.

At September 30, 2008 Pan American's cash and short term investments totalled $90.9 million and the Company had in excess of $167 million in working capital. The Company remains debt-free and fully funded to complete its short term growth projects. Additionally, in October the Company secured a $70 million revolving credit facility, which is intended to fund general corporate purposes and strategic business development activities. To date, the Company has not drawn from this facility.

Production And Operations

Pan American produced 4.9 million ounces of silver during the third quarter of 2008, which was 9% higher than in the third quarter of 2007 and 0.2 million ounces more than during the second quarter of this year. Alamo Dorado was the Company's best producing operation, contributing 1.7 million ounces of silver during the quarter. The La Colorada and Huaron operations also had good production quarters, contributing 1.0 and 0.9 million ounces of silver respectively.

Consolidated cash costs for the quarter rose to $6.61 per ounce of silver from $3.32 in the third quarter of 2007. The increase was a direct result of lower base metal by-product credits, and increased energy and labour costs, mainly at the Company's Peruvian operations.

Exploration

In October, Pan American announced the discovery of the high grade Morro Solar vein at its Morococha mine in Peru. The Morro Solar vein was identified during surface exploration and has been mapped over a continuous distance of more than 2.5 km along strike.