Guidance for 2011

--  Silver production forecast of 3.7 million oz
--  Gold production forecast of 19,000 oz
--  Silver and equivalents production forecast of 4.7 million oz

--  Cash cost forecast of less than $5.70 per oz of silver produced, net of
    by-product gold credits
--  Capital cost forecast of $36.7 million and exploration budget of $9.2
    million
--  Revenue forecast of $113.9 million assuming $24 silver and $1,320 gold

Bradford Cooke, Chairman and CEO, commented, "Endeavour delivered yet another year of record financial and operating performance in 2010 and as a result, the Company has never been in a better financial position. We finished last year with robust earnings, more than $100 million in working capital, no debt, falling cash costs, rising silver production and higher precious metals prices."

"In 2011, management is forecasting Endeavour's seventh consecutive year of organic silver production growth by expanding the Guanajuato plant from 600 up to 1000 tonnes per day. Cash costs are expected to continue declining into the mid-$5 per oz range and if we assume a US$30 average silver price in 2010, our mine operating profit margin will be around $24 per oz - remarkable by any standards."

"We remain focused on the continuous expansion and improvement of our two operating mines, the organic growth of our reserves and resources, and last but not least, we continue to seek opportunities to grow through mergers and acquisitions that are accretive to our shareholders. 2011 promises to be another great year for Endeavour Silver."

To view a video of Chairman Bradford Cooke commenting on today's results, please visit our website or click here: http://www.edrsilver.com/i/video/pressreleases/2011-03-22/2010_Financial_Results.html

The financial results are expressed in US dollars ("US$") and are based on Canadian generally accepted accounting practices (Canadian "GAAP"). For a more detailed review, shareholders are referred to the 2010 Audited Financial Statements, Management Discussion and Analysis ("MD&A") and Annual Information Form ("AIF") at the Company's website, www.edrsilver.com or on the SEDAR website, http://www.sedar.com/ and to the SEC Form 40F filed on EDGAR at http://www.sec.gov/edgar.shtml.

Financial Results (Consolidated Statement of Operations appended below)

For the year ended December 31, 2010, the Company generated Revenues totalling $86.5 million (2009 - $50.8 million) at an average sale price of $19.62 per oz (2009 - $15.49 per oz) for its silver production. After Costs of Sales of $41.5 million (2009 - $29.5 million), Mine Operating Cash-flows amounted to $45.0 million (2009 - $21.3 million) from its mining and milling operations in Mexico. After Depreciation and Depletion of $15.5 million (2009 - $11.3 million), Mine Operating Earnings were $29.6 million (2008 - $10.0 million) in 2010. Operating Earnings were $14.0 million (2009 - break even) and the Company incurred Net Earnings for the year ended December 31, 2010 of $7.1 million (2009 - loss of $1.9 million). Cash operating costs were $5.71 per oz silver produced (2009 - $6.04), net of gold by-product credits.

Endeavour invested US$30.1 million on capital projects in 2010, including US$18.7 million on mine development, US$6.8 million on plant improvements and US$4.6 million on equipment, vehicles and buildings. The main focus was at Guanacevi ($19.4 million) where over six kilometers of mine development were completed, including the new Santa Cruz and Porvenir Cuatro mines, and the plant was expanded to 1,000 tonnes per day. At Guanajuato, capital expenditures ($10.7 million) focused on completing over five kilometers of mine development, including the new Lucero South access ramp.

Endeavour is well-positioned for both organic and acquisition growth in 2011, with year-end working capital of $102 million, including $88 million in cash and short term investments. Working capital and 2011 mine operating cash flows will be used to fund an aggressive 2011 capital investment program focused on accelerating mine development ($21.8 million), additional Guanacevi plant improvements ($6.1 million) including a new dry stack tailings facility, a major plant expansion at Guanajuato to 1,000 tonnes per day ($5.3 million) and an upgrade to our fleet of Guanajuato mining equipment ($3.0 million).

Operating Results (Consolidated Table of Operations appended below)

In 2010, Endeavour achieved two important milestones in its silver mining operations: the Company recorded its sixth consecutive year of growing silver production, up 26% from 2009 to 3,285,634 payable ounces (oz) silver; and cash costs declined for the third consecutive year, down 5% to $5.71 per oz silver.

Similar to 2009, silver production in 2010 was relatively flat in the first two quarters, as management focused primarily on the capital investment programs at the Guanacevi Mines in Durango State, and the Guanajuato Mines in Guanajuato State. As a result of completing the 2010 capital projects, consolidated throughput rose from 113,000 tonnes in Q1, 2010 to 144,000 tonnes in Q4, 2010. Consolidated cash operating costs of production fell from US$6.39 per oz silver in Q1, 2010 to US$4.71 per oz silver in Q4, 2010.

Exploration Results

In the San Pedro area of Guanacevi, Endeavour made two exciting new discoveries in the Epsilon and La Blanca veins and expanded the Company's land position at Guanacevi with the addition of 3 properties totalling 25 hectares. In the Guanajuato district, the Company identified three significant new veins, the Karina, Fernanda and Daniela veins, and expanded the Company's land position at Guanajuato with the addition of 4 properties totalling 243 hectares.

At the San Juanico property in the Parral district, drilling successfully expanded the NI 43-101 indicated resources to 1.63 million tonnes containing 2.6 million oz silver and inferred resources to 1.30 million tonnes containing 2.7 million ounces plus significant gold, lead and zinc resources. Please visit Endeavour's website or refer to the Company's March 8th, 2011 press release for December 31, 2010 updated reserves and resources table. For more information on the 2010 exploration program and 2011 exploration outlook please refer to the Company's February 1, 2011 press release.

2011 Outlook

In 2011, Endeavour anticipates its financial performance will reflect significantly higher anticipated silver and gold bullion prices, further increases in silver and gold production, continued growth of reserves and resources and a further reduction in cash costs. Cash operating costs should continue to trend downward due to economies of scale resulting from the planned Guanajuato plant expansion. However, this benefit will be partly offset by continued increases in some operating costs such as labour.

Similar to 2010, the first two quarters of silver production in 2011 are scheduled to be relatively flat, as we focus on mine development and plant expansion capital programs. Silver production is expected to rise again in the third quarter, as the expansion at Guanajuato is completed.

The Guanacevi mines are scheduled to produce 1,000 tonnes per day (tpd) for the entire year. Guanacevi currently draws 80% of its ore production from the Porvenir Mine and the balance will be from Porvenir Dos, Porvenir Cuatro and Santa Cruz.

At Guanajuato, the Lucero vein now contributes 80% of ore production with the balance coming from Cebada and Bolanitos. The 2011 expansion of the Guanajuato plant is anticipated to increase capacity from 600 tpd to 1,000 tpd, with completion expected in Q3, 2011. The added plant capacity should be met with increased production from the Bolanitos and Lucero veins and development ore from our 2010 discoveries of the Karina and Fernanda veins.

In 2011 Endeavour plans to push ahead on its exploration programs at several projects. The Company is undertaking an aggressive $9.2 million, 47,000 meter, 175-hole exploration drill program to test multiple exploration targets within three of the mining districts plus some new property acquisitions.

At Guanacevi, a total of 10,000 meters of diamond drilling is planned to test several newly discovered veins in the San Pedro area. At Guanajuato, drilling will continue at Karina, Fernanda and Daniela and other prospective areas, with 14,500 meters planned.

Endeavour will also commence drilling on the San Sebastian properties acquired last year in Jalisco state, Mexico. Surface sampling has identified numerous high-grade silver and gold mineralized zones at San Sebastian with a 6,500 meter program planned for 2011.

A telephone conference call to discuss the results will be held at 10:00 AM PDT (1:00 PM EDT) on Tuesday, March 22, 2011. To participate in the telephone conference call, please dial the following:

--  604-638-5340  Vancouver Dial In

--  1-604-638-5340 Outside of Canada & USA

--  No pass-code is necessary to participate in the conference call

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada & USA (Toll-free) or 1-604-638-9010 outside of Canada & USA. The required pass-code is 4890 followed by the # sign.

To view the Company's Annual Report on Form 40F containing the Company's Annual Audited Financial Statements for the year ended December 31, 2010 plus ancillary documents, please click on the link below. All holders have the ability to receive a hard copy of the Company's complete Audited Financial Statements free of charge upon request. To receive this material in hard copy, please contact Hugh Clarke, VP Corporate Communications by email at 604-685-9775 or toll free 877-685-9775.

ENDEAVOUR SILVER CORP.

BRADFORD COOKE, Chairman and CEO

About Endeavour Silver Corp. - Endeavour Silver is a mid-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted six consecutive years of growing silver production, reserves and resources. The organic expansion programs now underway at Endeavour's two operating silver mines in Mexico combined with its strategic acquisition and exploration programs should help Endeavour achieve its goal to become the next premier mid-tier silver mining company.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include, but are not limited to, statements regarding Endeavour's anticipated performance in 2011, including revenue, cash cost and capital cost forecasts, silver and gold production, timing and expenditures to develop new silver mines and mineralized zones, silver and gold grades and recoveries, cash costs per ounce, capital expenditures and sustaining capital and the use of the Company's working capital. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); fluctuations in the price of consumed commodities, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, reliability of calculation of mineral reserves and resources and precious metal recoveries, diminishing quantities or grades of mineral reserves as properties are mined; the ability to successfully integrate acquisitions; risks in obtaining necessary licenses and permits, global market events and conditions and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll free: 877-685-9775

(604) 685-9744 (FAX)
hugh@edrsilver.com
www.edrsilver.com