Endeavour Mining Corporation announced that the Agbaou Gold Mine has achieved commercial production following the successful commissioning of the processing plant. Commercial production at Agbaou has been declared as the process plant achieved approximately 125% of design throughput and gold recovery exceeding 94% over the prior 30 days. Agbaou is forecast to produce between 85,000 and 95,000 ounces in its first 12 months of the current 8 year mine life.

The value of the gold produced prior to commercial production will be deducted from capitalized construction costs, rather than recorded as revenue. The Mining convention governs important aspects of the relationship between the State and Agbaou Gold Operations SA, Endeavour's 85%-owned subsidiary. The negotiated terms are similar to those of other operating gold mines in Côte d'Ivoire and consistent with Endeavour's expectations when the decision to proceed with construction was taken in June 2012, including: Royalties: A sliding scale from 3% to 5%, depending on gold price Corporate Tax Holiday: Agbaou mine is eligible for a corporate tax holiday for years from commencement of commercial gold production Stability: A strong stability clause defining fiscal parameters for the duration of the mining permit.