Endeavour Mining Investor Presentation Deck
EXPLORATON METHODOLOGY AND STRATEGY
Selection, ranking and risk evaluation of exploration targets
ENDEAVOUR
MINING
Step 4: Final selection of targets, with higher PoO and priority, which can be physically be included in the 5 year exploration plan
Since Endeavour cannot feasibly explore the 110 targets, defined in Step 3, during the next 5-year period, the 110 targets were further assessed,
classified and ranked against near term mine priorities. This resulted in the final selection of the top 70 targets deemed to better fit the overall
strategy.
The final output of the strategic exploration analysis is a quantitative, multi-screened and filtered estimate of the total potential ounces hosted in
the Group's portfolio, where 15 to 20Moz of Indicated resources are expected to be discovered within the next five years.
The applied approach does not mean that all selected and explored targets will be successful when taken individually, as some are likely to fail to
deliver a deposit while others will outperform individual expectations. However, there can be reasonable confidence in achieving the total global
estimated Indicated resources within the 5-year exploration programme. As such, it's reasonable to expect the achievement of the global target, but
the individual successes that drive the global achievement may differ, sometimes significantly from the original estimate.
Step 5: Strategic prioritisation to establish 5-year programme
Finally, an individual risked budget was established for each target in order to reach an Indicated resource status level. To develop the execution
plan, most selected exploration targets were then set within the 5-year exploration programme, according to corporate and mine priorities, license
duration, sequencing of required activities and available exploration budget.
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