Endeavour Silver Corporation has made terrific progress in the last 3 weeks rising from $3.97 to close at $4.40 yesterday.

We expect this stock to rise above its recent high of $5.00 very soon and go on to demonstrate just what a high quality silver stock that it really is.

The tripling of its silver resources at Guanacevi Mines Project, Durango, Mexico, has no doubt played a big part in the stocks recovery. As noted on the chart it was the Chinese wobble that give us the opportunity to pounce and make our first investment. In our opinion it is still cheap so we will continue to accumulate as our cash flow allows.

The old adage of buy the dips certainly applied here. When the gloom comes down it is important not to let your chin drop as most of the others have done and hit the sell button. This selling drove the price down very nicely for us to make the best of a short-term correction. If you sold during this period then not to worry it is still cheap and buying back in now could better than trying to get back in 6 months, just our opinion of course, and we hold the stock so we are bias towards it.

The chart shows the commencement of the recovery and you can see that the volume has increased gently over the last 3 days. Now that the US interest rates have been kept on hold we could see gold going on a little run and silver is sure to join in the fun.

You can locate Endeavour on the TSX: EDR, AMEX: EXK, DBFrankfurt: EJD

08 March 2007