# ENDEAVOUR ANNOUNCES POSITIVE DFS RESULTS FOR THE ASSAFOU PROJECT THAT UNDERPINS THE NEXT PHASE OF ORGANIC GROWTH Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede Original source: https://money.tmx.com/en/quote/EDV/news/6134815533040677/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins- Publisher: tmx Original announcement: 2026-04-23T13:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Endeavour Mining plc - Ticker: EDV - Exchange: TSX - Region: Côte d’Ivoire - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Economic study, Metallurgy - Extracted: 2026-09-19 19:40:42 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Endeavour Mining announced positive Definitive Feasibility Study \(DFS\) results for its Assafou project in Côte d’Ivoire, confirming robust economics with a post-tax NPV \(5%\) of $2.1 billion and an IRR of 28% at a $2,500/oz gold price. The study outlines a 16-year mine life producing 320kozpa at a first quartile AISC of $1,026/oz over the first eight years. While the DFS shows a 6% increase in P&P reserves and an 8% increase in M&I resources, including maiden Proven and Measured categories, the upfront capital cost increased by 45% and the after-tax NPV and IRR decreased by 17% and 30% respectively compared to the prior PFS. Reasoning: The DFS results for the Assafou project confirm strong economics with a post-tax NPV of $2.1 billion and an IRR of 28% at a $2,500/oz gold price, supporting a 16-year mine life with 320kozpa production over the first 8 years at a first quartile AISC. The resource update shows a 6% increase in P&P reserves and an 8% increase in M&I resources, including maiden Proven and Measured categories, indicating de-risking and increased confidence. However, the upfront capital cost increased by 45% and the after-tax NPV and IRR decreased by 17% and 30% respectively compared to the prior PFS, which are notable negative changes. The project benefits from high gold recovery and good infrastructure. - Positive factor: DFS confirms robust economics with strong IRR and NPV - Positive factor: Significant increase in P&P reserves and M&I resources, including maiden Proven and Measured categories - Positive factor: High gold recovery rate demonstrated by metallurgical test work - Positive factor: Project benefits from good existing infrastructure and planned upgrades - Positive factor: Low AISC positions the project in the first quartile of the cost curve - Negative factor: Upfront capital cost increased significantly \(45%\) compared to the prior PFS - Negative factor: After-tax NPV and IRR decreased compared to the prior PFS, despite higher gold price assumption - Negative factor: Inferred resources decreased significantly, indicating conversion to higher categories but also less exploration upside in that category - Negative factor: Payback period increased compared to the prior PFS - Negative factor: Operating costs \(processing, G&A\) increased compared to the prior PFS Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 38 ## Classification and evidence **DFS Bankable** Polarity: positive Definition: AACE Class 2-1 study complete and within the staleness window. Why it applies: The document announces the results of a Definitive Feasibility Study \(DFS\), which is an AACE Class 2-1 study, indicating a high level of engineering maturity. Evidence · text > ENDEAVOUR ANNOUNCES POSITIVE DFS RESULTS FOR THE ASSAFOU PROJECT THAT UNDERPINS THE NEXT PHASE OF ORGANIC GROWTH **High IRR** Polarity: positive Definition: Post-tax real unlevered IRR in the strong tier or better. Why it applies: The post-tax IRR of 28% at a $2,500/oz gold price is above the strong tier threshold for economic studies. Evidence · table > 28 Context: Post-tax IRR, % **Fast Payback** Polarity: positive Definition: Payback in the strong tier or better, on the required basis. Why it applies: The post-tax payback period of 3.52 years at a $2,500/oz gold price is within the strong tier for economic studies. Evidence · table > 3.52 Context: Payback Period, yr **Bottom Quartile Cost** Polarity: positive Definition: P0-25 of the relevant commodity cost curve. Why it applies: The project is expected to have a first quartile AISC of $1,026/oz over the first 8 years and $1,062/oz over the life of mine. Evidence · table > 1st quartile Context: AISC, $/oz **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: P&P Reserves increased by 6% \(from 4,115 koz to 4,379 koz\) and M&I Resources increased by 8% \(from 4,604 koz to 4,972 koz\) compared to the prior estimate. Evidence · table > +6% Context: P&P Reserves, koz **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The updated estimate includes maiden Proven reserves of 1.3Moz and maiden Measured resources of 1.4Moz, reflecting increased resource confidence. Evidence · text > reflected by the addition of maiden Proven reserves of 21.5Mt at 1.87g/t for 1.3Moz alongside maiden Measured resources of 20.8Mt at 2.05g/t for 1.4Moz **Long Reserve Life** Polarity: positive Definition: Reserve life index in the top tier of the single ladder. Why it applies: The project has a mine life of 16 years, which is in the long-life tier for reserve life. Evidence · table > 16 Context: Mine life, years **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: Metallurgical test work demonstrated an overall gold recovery rate of 94% over the life of mine, which is in the exceptional band for gold CIL processing. Evidence · table > 94 Context: Average recovery rate, % **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: Extensive metallurgical test work demonstrated that the ore contains free-milling gold. Evidence · text > Extensive multiphase metallurgical test work has demonstrated that ore from the Assafou deposit contains free-milling gold **NPV Cut vs Prior Study** Polarity: negative Definition: A restated study reduces NPV materially against its own predecessor on the same asset. Why it applies: The after-tax NPV \(5%\) decreased by 17% from $2,485m in the PFS to $2,059m in the DFS at a $2,500/oz gold price. Evidence · table > \(17\)% Context: NPV 5%, $m **Low IRR** Polarity: negative Definition: IRR below the moderate tier. Why it applies: The after-tax IRR decreased by 30% from 40% in the PFS to 28% in the DFS at a $2,500/oz gold price. Evidence · table > \(30\)% Context: IRR, % **High Capital Intensity** Polarity: negative Definition: Above the benchmark for its project type. Why it applies: Upfront capital cost increased by 45% from $734m in the PFS to $1,061m in the DFS. Evidence · table > +45% Context: Upfront capital cost, $m **Grade Decline** Polarity: negative Definition: Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: Indicated Resources \(incl. reserves\) grade decreased from 1.95 g/t Au in the 2024 estimate to 1.89 g/t Au in the 2025 estimate. Evidence · table > 1.89 Context: Indicated Resources \(incl. reserves\) **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The source explicitly discloses a revised resource estimate Evidence · text > increased resource **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("CIL"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 36. Some facts used in scoring do not have a stored record. ## Resource Estimates (35) ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-2) Assafou Deposit \(DFS\) · gold #### Identity - Project: Assafou Deposit \(DFS\) - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: reserve - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:e3fc69fb5b584699a8bf - Deposit or zone: Assafou Deposit - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 21500000 - Grade: 1.87 - Grade Unit: g/t - Contained Metal: 1295 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The establishment of maiden Proven Reserves is a significant de-risking event, demonstrating a high level of confidence in the economic viability and geological understanding of this portion of the deposit. The contained ounces are substantial. - Positive factor: Maiden Proven Reserves established, indicating high confidence - Positive factor: Significant contained gold ounces in the highest reserve category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,295 Context: Proven Reserves #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-3) Assafou Deposit \(DFS\) · gold #### Identity - Project: Assafou Deposit \(DFS\) - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: reserve - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:3b2752252fde50dafdfd - Deposit or zone: Assafou Deposit - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 55900000 - Grade: 1.72 - Grade Unit: g/t - Contained Metal: 3085 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 72800000 - Prior Grade: 1.76 - Prior Contained Metal: 4115 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: While still a substantial reserve, the decrease in Probable Reserves compared to the prior estimate suggests either conversion to Proven or removal of material, which is a mixed signal. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Significant contained gold ounces in the Probable category - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Probable Reserves decreased in tonnage, grade, and contained metal compared to the prior estimate, indicating conversion to Proven or removal from reserves. Evidence · table > 3,085 Context: Probable Reserves #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 55900000 against 72800000 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 3085 against 4115 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-4) Assafou Deposit \(DFS\) · gold #### Identity - Project: Assafou Deposit \(DFS\) - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: reserve - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:24ba0d32b7941504a519 - Deposit or zone: Assafou Deposit - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 77400000 - Grade: 1.76 - Grade Unit: g/t - Contained Metal: 4379 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 72800000 - Prior Grade: 1.76 - Prior Contained Metal: 4115 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The increase in P&P Reserves, driven by the addition of Proven Reserves, is a positive signal for the project's economic viability and confidence. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Overall increase in P&P Reserves \(6%\) compared to prior estimate - Positive factor: Significant contained gold ounces in the P&P category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 4,379 Context: P&P Reserves #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 4379 against 4115 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-5) Assafou Deposit \(DFS\) · gold #### Identity - Project: Assafou Deposit \(DFS\) - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:33268bed7b77d78a711c - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 20800000 - Grade: 2.05 - Grade Unit: g/t - Contained Metal: 1367 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The declaration of maiden Measured Resources is a strong positive, signifying a high degree of geological confidence and de-risking for the project. The contained ounces are substantial. - Positive factor: Maiden Measured Resources established, indicating very high confidence - Positive factor: Significant contained gold ounces in the highest resource category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,367 Context: Measured Resource \(incl. reserves\) #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-6) Assafou Deposit \(DFS\) · gold #### Identity - Project: Assafou Deposit \(DFS\) - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:c9ec271f850f80dcf871 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 59400000 - Grade: 1.89 - Grade Unit: g/t - Contained Metal: 3606 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 73600000 - Prior Grade: 1.95 - Prior Contained Metal: 4604 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The decrease in Indicated Resources, particularly in contained metal, is a mixed signal, likely due to conversion to the Measured category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Significant contained gold ounces in the Indicated category - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Indicated Resources decreased in tonnage, grade, and contained metal compared to the prior estimate, indicating conversion to Measured or removal of material. Evidence · table > 3,606 Context: Indicated Resources \(incl. reserves\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 59400000 against 73600000 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 3606 against 4604 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.4 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-7) Assafou Deposit \(DFS\) · gold #### Identity - Project: Assafou Deposit \(DFS\) - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:7b0edb4d66853e210bb2 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 80100000 - Grade: 1.93 - Grade Unit: g/t - Contained Metal: 4972 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 73600000 - Prior Grade: 1.95 - Prior Contained Metal: 4604 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The increase in M&I Resources, including the new Measured category, is a strong positive for the project's confidence and scale. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Overall increase in M&I Resources \(8%\) compared to prior estimate - Positive factor: Significant contained gold ounces in the M&I category - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Slight decrease in average grade for M&I resources compared to prior estimate. Evidence · table > 4,972 Context: M&I Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 4972 against 4604 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.4 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-8) Assafou Deposit \(DFS\) · gold #### Identity - Project: Assafou Deposit \(DFS\) - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:274c50e8602331a2eca7 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 900000 - Grade: 2.34 - Grade Unit: g/t - Contained Metal: 69 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 3300000 - Prior Grade: 1.97 - Prior Contained Metal: 208 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The substantial decrease in Inferred Resources suggests successful conversion to higher confidence categories, which is positive for project de-risking. However, it also means less immediate exploration upside in the Inferred category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Higher grade in the remaining Inferred resource compared to prior estimate - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Significant decrease in Inferred Resources \(67%\) compared to prior estimate, indicating conversion to higher categories but also reduced exploration upside in this category. Evidence · table > 69 Context: Inferred Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 900000 against 3300000 previously **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: 2.34 against 1.97 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 69 against 208 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.4 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-9) Pala Trend 3 · gold #### Identity - Project: Pala Trend 3 - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:269b779423a2236309ad - Deposit or zone: Pala Trend 3 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 4700000 - Grade: 1.55 - Grade Unit: g/t - Contained Metal: 231 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The declaration of a maiden Indicated Resource at Pala Trend 3 is a significant positive, adding new ounces to the project's overall resource base and demonstrating exploration success. Its proximity to Assafou offers potential for future integration. - Positive factor: Maiden Indicated Resource for a satellite deposit, adding new ounces - Positive factor: Located close to the main Assafou deposit, offering potential synergies - Positive factor: Mineralization starts from surface, potentially supporting early production - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 231 Context: Indicated Resources \(incl. reserves\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-10) Pala Trend 3 · gold #### Identity - Project: Pala Trend 3 - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:269b779423a2236309ad - Deposit or zone: Pala Trend 3 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 4700000 - Grade: 1.55 - Grade Unit: g/t - Contained Metal: 231 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The declaration of a maiden M&I Resource at Pala Trend 3 is a significant positive, adding new ounces to the project's overall resource base and demonstrating exploration success. Its proximity to Assafou offers potential for future integration. - Positive factor: Maiden M&I Resource for a satellite deposit, adding new ounces - Positive factor: Located close to the main Assafou deposit, offering potential synergies - Positive factor: Mineralization starts from surface, potentially supporting early production - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 231 Context: M&I Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-11) Pala Trend 3 · gold #### Identity - Project: Pala Trend 3 - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:989b4fbb6d4a0160dc7a - Deposit or zone: Pala Trend 3 - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1000000 - Grade: 1.68 - Grade Unit: g/t - Contained Metal: 53 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The declaration of a maiden Inferred Resource at Pala Trend 3 is a positive, indicating further exploration potential. While Inferred, it adds to the overall resource base and is NI 43-101 compliant. - Positive factor: Maiden Inferred Resource for a satellite deposit, adding new ounces - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 53 Context: Inferred Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-12) Assafou Project · gold #### Identity - Project: Assafou Project - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: reserve - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:be5c2b7e3de22b474337 - Deposit or zone: Total Assafou Project - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: proven - Tonnes: 21500000 - Grade: 1.87 - Grade Unit: g/t - Contained Metal: 1295 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The establishment of maiden Proven Reserves for the total project is a significant de-risking event, demonstrating a high level of confidence in the economic viability and geological understanding of this portion of the deposit. The contained ounces are substantial. - Positive factor: Maiden Proven Reserves established for the overall project, indicating high confidence - Positive factor: Significant contained gold ounces in the highest reserve category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,295 Context: Proven Reserves #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-13) Assafou Project · gold #### Identity - Project: Assafou Project - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: reserve - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:96cd191813d6f8b44573 - Deposit or zone: Total Assafou Project - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 55900000 - Grade: 1.72 - Grade Unit: g/t - Contained Metal: 3085 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 72800000 - Prior Grade: 1.76 - Prior Contained Metal: 4115 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: While still a substantial reserve, the decrease in Probable Reserves compared to the prior estimate suggests either conversion to Proven or removal of material, which is a mixed signal. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Significant contained gold ounces in the Probable category - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Probable Reserves decreased in tonnage, grade, and contained metal compared to the prior estimate, indicating conversion to Proven or removal from reserves. Evidence · table > 3,085 Context: Probable Reserves #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 55900000 against 72800000 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 3085 against 4115 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-14) Assafou Project · gold #### Identity - Project: Assafou Project - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: reserve - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:187922a8f9051fd74ecf - Deposit or zone: Total Assafou Project - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: probable - Tonnes: 77400000 - Grade: 1.76 - Grade Unit: g/t - Contained Metal: 4379 - Contained Unit: koz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 72800000 - Prior Grade: 1.76 - Prior Contained Metal: 4115 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The increase in P&P Reserves, driven by the addition of Proven Reserves, is a positive signal for the project's economic viability and confidence. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Overall increase in P&P Reserves \(6%\) compared to prior estimate - Positive factor: Significant contained gold ounces in the P&P category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 4,379 Context: P&P Reserves #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 4379 against 4115 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-15) Assafou Project · gold #### Identity - Project: Assafou Project - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:dd66bb39c1079f98c6bc - Deposit or zone: Total Assafou Project - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 20800000 - Grade: 2.05 - Grade Unit: g/t - Contained Metal: 1367 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The declaration of maiden Measured Resources for the total project is a strong positive, signifying a high degree of geological confidence and de-risking for the project. The contained ounces are substantial. - Positive factor: Maiden Measured Resources established for the overall project, indicating very high confidence - Positive factor: Significant contained gold ounces in the highest resource category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,367 Context: Measured Resource \(incl. reserves\) #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-16) Assafou Project · gold #### Identity - Project: Assafou Project - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:28c6ec869a8ef578b880 - Deposit or zone: Total Assafou Project - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 64000000 - Grade: 1.86 - Grade Unit: g/t - Contained Metal: 3837 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 73600000 - Prior Grade: 1.95 - Prior Contained Metal: 4604 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The decrease in Indicated Resources, particularly in contained metal, is a mixed signal, likely due to conversion to the Measured category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Significant contained gold ounces in the Indicated category - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Indicated Resources decreased in tonnage, grade, and contained metal compared to the prior estimate, indicating conversion to Measured or removal of material. Evidence · table > 3,837 Context: Indicated Resources \(incl. reserves\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 64000000 against 73600000 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 3837 against 4604 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.4 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-17) Assafou Project · gold #### Identity - Project: Assafou Project - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:73b3bb98e6ef8ba4dbaa - Deposit or zone: Total Assafou Project - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 84800000 - Grade: 1.91 - Grade Unit: g/t - Contained Metal: 5203 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 73600000 - Prior Grade: 1.95 - Prior Contained Metal: 4604 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The increase in M&I Resources, including the new Measured category, is a strong positive for the project's confidence and scale. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Overall increase in M&I Resources \(8%\) compared to prior estimate - Positive factor: Significant contained gold ounces in the M&I category - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Slight decrease in average grade for M&I resources compared to prior estimate. Evidence · table > 5,203 Context: M&I Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 84800000 against 73600000 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 5203 against 4604 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.4 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-18) Assafou Project · gold #### Identity - Project: Assafou Project - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Francois Taljaard, Kevin Harris, Lucette Hugo - Resource group id: resource:d58b46732f3dcbbdc97e - Deposit or zone: Total Assafou Project - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1900000 - Grade: 2 - Grade Unit: g/t - Contained Metal: 122 - Contained Unit: koz - Cutoff Grade: 0.4 - Cutoff Unit: g/t #### Prior Estimate - Resource Date: 2025-12-31 - Prior Tonnes: 3300000 - Prior Grade: 1.97 - Prior Contained Metal: 208 - Prior Cutoff Grade: 0.5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The substantial decrease in Inferred Resources suggests successful conversion to higher confidence categories, which is positive for project de-risking. However, it also means less immediate exploration upside in the Inferred category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Higher grade in the remaining Inferred resource compared to prior estimate - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Significant decrease in Inferred Resources \(67%\) compared to prior estimate, indicating conversion to higher categories but also reduced exploration upside in this category. Evidence · table > 122 Context: Inferred Resources #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 1900000 against 3300000 previously **Contained Metal Decline** Polarity: negative Definition: Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. Why it applies: 122 against 208 previously **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: 0.4 against 0.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-19) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:06cce15d48e9bbe68062 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 20200000 - Grade: 2.05 - Grade Unit: g/t - Contained Metal: 1334 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Measured Resource remains substantial and high-grade even at a lower gold price, demonstrating the robustness of this high-confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Robust Measured Resource even at a lower gold price sensitivity - Positive factor: High confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,334 Context: Based on a gold price of $1500/oz #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-20) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:2afa70eceaa315a164f3 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 20800000 - Grade: 2.05 - Grade Unit: g/t - Contained Metal: 1367 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Measured Resource remains substantial and high-grade at the resource estimation gold price, demonstrating the robustness of this high-confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Robust Measured Resource at the base gold price for resource estimation - Positive factor: High confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,367 Context: Based on a gold price of $1900/oz #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-21) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:2afa70eceaa315a164f3 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 20800000 - Grade: 2.05 - Grade Unit: g/t - Contained Metal: 1370 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Measured Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this high-confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Robust Measured Resource at a higher gold price sensitivity - Positive factor: High confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,370 Context: Based on a gold price of $2000/oz #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-22) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:7790b9a6cadc7114ac3a - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 20900000 - Grade: 2.04 - Grade Unit: g/t - Contained Metal: 1372 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Measured Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this high-confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Robust Measured Resource at a higher gold price sensitivity - Positive factor: High confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,372 Context: Based on a gold price of $2100/oz #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-23) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:7790b9a6cadc7114ac3a - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 20900000 - Grade: 2.04 - Grade Unit: g/t - Contained Metal: 1375 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Measured Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this high-confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Robust Measured Resource at a higher gold price sensitivity - Positive factor: High confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,375 Context: Based on a gold price of $2500/oz #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-24) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:bb8bd1a6e6102a6ed25a - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 21000000 - Grade: 2.04 - Grade Unit: g/t - Contained Metal: 1382 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Measured Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this high-confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Robust Measured Resource at a higher gold price sensitivity - Positive factor: High confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 1,382 Context: Based on a gold price of $3000/oz #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-25) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:f74986918db5ab88802c - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 54000000 - Grade: 1.92 - Grade Unit: g/t - Contained Metal: 3328 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Indicated Resource remains substantial and high-grade even at a lower gold price, demonstrating the robustness of this confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Substantial Indicated Resource even at a lower gold price sensitivity - Positive factor: Good confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 3,328 Context: Based on a gold price of $1500/oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-26) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:14e227aef35c00eeb38c - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 59400000 - Grade: 1.89 - Grade Unit: g/t - Contained Metal: 3606 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Indicated Resource remains substantial and high-grade at the resource estimation gold price, demonstrating the robustness of this confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Substantial Indicated Resource at the base gold price for resource estimation - Positive factor: Good confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 3,606 Context: Based on a gold price of $1900/oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-27) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:1731e99296bf86113edd - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 60100000 - Grade: 1.88 - Grade Unit: g/t - Contained Metal: 3635 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Indicated Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Substantial Indicated Resource at a higher gold price sensitivity - Positive factor: Good confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 3,635 Context: Based on a gold price of $2000/oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-28) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:2d7ebc933246bca64cec - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 60300000 - Grade: 1.88 - Grade Unit: g/t - Contained Metal: 3645 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Indicated Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Substantial Indicated Resource at a higher gold price sensitivity - Positive factor: Good confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 3,645 Context: Based on a gold price of $2100/oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-29) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:ba25e83ccdc3f136a711 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 62300000 - Grade: 1.87 - Grade Unit: g/t - Contained Metal: 3738 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Indicated Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Substantial Indicated Resource at a higher gold price sensitivity - Positive factor: Good confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 3,738 Context: Based on a gold price of $2500/oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-30) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:ccb0e35c84e4643a9963 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 63300000 - Grade: 1.86 - Grade Unit: g/t - Contained Metal: 3777 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Indicated Resource remains substantial and high-grade even at a higher gold price, demonstrating the robustness of this confidence category. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Substantial Indicated Resource at a higher gold price sensitivity - Positive factor: Good confidence category - Positive factor: NI 43-101 compliant and QP signed estimate Evidence · table > 3,777 Context: Based on a gold price of $3000/oz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-31) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:667b6570ece9cf85a88b - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 600000 - Grade: 2.46 - Grade Unit: g/t - Contained Metal: 46 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Inferred Resource, while small, maintains a good grade even at a lower gold price, indicating some robustness. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Inferred Resource shows good grade even at lower gold price sensitivity - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Small contained ounces in the Inferred category at this price point. Evidence · table > 46 Context: Based on a gold price of $1500/oz #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-32) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:8abaa1367ca9e4f82eb7 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 900000 - Grade: 2.34 - Grade Unit: g/t - Contained Metal: 69 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Inferred Resource, while small, maintains a good grade at the resource estimation gold price. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Inferred Resource shows good grade at the base gold price for resource estimation - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Small contained ounces in the Inferred category. Evidence · table > 69 Context: Based on a gold price of $1900/oz #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-33) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:992509538e636be6af63 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1000000 - Grade: 2.28 - Grade Unit: g/t - Contained Metal: 72 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Inferred Resource, while small, maintains a good grade even at a higher gold price. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Inferred Resource shows good grade at a higher gold price sensitivity - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Small contained ounces in the Inferred category. Evidence · table > 72 Context: Based on a gold price of $2000/oz #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-34) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:992509538e636be6af63 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1000000 - Grade: 2.25 - Grade Unit: g/t - Contained Metal: 74 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Inferred Resource, while small, maintains a good grade even at a higher gold price. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Inferred Resource shows good grade at a higher gold price sensitivity - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Small contained ounces in the Inferred category. Evidence · table > 74 Context: Based on a gold price of $2100/oz #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-35) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:899f1b5b3430dc1958c6 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1400000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 97 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Inferred Resource, while small, maintains a good grade even at a higher gold price. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Inferred Resource shows good grade at a higher gold price sensitivity - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Small contained ounces in the Inferred category. Evidence · table > 97 Context: Based on a gold price of $2500/oz #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-resource-facts-36) Assafou Deposit · gold #### Identity - Project: Assafou Deposit - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Resource scope - Estimate type: resource - Effective date: 2025-12-31T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Kevin Harris - Resource group id: resource:bb629008a57c59084e64 - Deposit or zone: Assafou Deposit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 1700000 - Grade: 2.14 - Grade Unit: g/t - Contained Metal: 115 - Contained Unit: koz #### Prior Estimate - Resource Date: 2025-12-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The Inferred Resource, while small, maintains a good grade even at a higher gold price. The estimate is NI 43-101 compliant and QP signed. - Positive factor: Inferred Resource shows good grade at a higher gold price sensitivity - Positive factor: NI 43-101 compliant and QP signed estimate - Negative factor: Small contained ounces in the Inferred category. Evidence · table > 115 Context: Based on a gold price of $3000/oz #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## Metallurgical Results (1) ### gravity, CIL [Link to this fact](https://atlas-extractions.minestarters.com/news/endeavour-announces-positive-dfs-results-for-the-assafou-project-that-underpins--6842c648-5f34-4b77-b56e-f5f979c18ede#fact-metallurgical-facts-37) Assafou · gold #### Identity - Project: Assafou - Commodity: gold - Region: côte d’ivoire - Reported Region: Côte d’Ivoire - Ticker: EDV #### Test Work - Program Status: detailed - Test Type: gravity, CIL - Processing Route: gravity / carbon-in-leach - Sample: Assafou deposit ore - Grind P80: 106 µm - Leach Time: 36 hours #### Recovery - Recovery: 94 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-04-23T00:00:00.000Z Reasoning: The reported 94% gold recovery is exceptional for a CIL plant, indicating very favorable metallurgical characteristics for the Assafou ore, which is described as free-milling with high gravity recoverable gold. This significantly de-risks the processing aspect of the project. - Positive factor: High gold recovery rate \(94%\) is exceptional for a CIL plant - Positive factor: Ore is free-milling with high gravity recoverable gold, indicating simple metallurgy - Positive factor: Extensive multiphase metallurgical test work supports the recovery rate - Positive factor: Optimized flowsheet with secondary crushers and HPGR, and a stockpile after HPGR to ensure continuous feed Evidence · text > an overall gold recovery rate of 94% over the life of mine. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the mill\_cil signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.