12:06 PM EST, 11/24/2025 (MT Newswires) -- (Updates shares.)

Endeavour Silver ( EXK ) on Monday said it signed a definitive agreement to sell the Bolanitos gold-silver mine in Mexico to Guanajuato Silver ( GSVRF ) for up to US$50 million.

Endeavour said the sale is part of its strategy to focus on its core Mexican silver assets, including the Terronera mine and the Pitarrilla project.

"By focusing our resources on our core silver assets, particularly delivering at Terronera and advancing the world-class Pitarrilla project, we are sharpening our operational focus and positioning the company for sustainable growth," Chief Executive Officer Dan Dickson said.

Under the terms, Guanajuato will pay $30 million in cash and $10 million in shares on closing, which is expected in January 2026.

Guanajuato will also pay $5 million upon the mine's production of 2-million silver equivalent ounces. The company will pay an additional $5 million after the mine produces 4 million ounces of silver equivalent.

Endeavour shares were last seen up $0.28 to $10.44 on the Toronto Stock Exchange.

Price: 10.44, Change: +0.28, Percent Change: +2.76