Geodrill announces USD $31M contract with Endeavour Mining 

Geodrill announces USD $31M contract with Endeavour Mining 
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TORONTO – Geodrill Limited (TSX: GEO), a leading West African based drilling company announces the Company has been awarded significant multi-rig long-term drilling contracts with Endeavour Mining PLC (TSX: EDV), a West African-based mining company with gold production and exploration activities across West Africa.

The contracts with Endeavour Mining Corp Plc are for a total 350,000 meters of exploration and mine reserve drilling across Endeavour Mining’s key West African operations for a period of two years drilling utilizing up to 10 drill rigs from the Company’s existing fleet.  The contracts are expected to generate revenues of US$31 million over the term of the contracts. Geodrill currently has a rig fleet of 71 drill rigs operating in West AfricaEgypt and Peru.

“This third significant contract win, within a relatively short time frame, and again with a key valued top tier gold producer, underscores the strength of our reputation and an endorsement of our drilling expertise in our core geographic region and beyond,” said Geodrill President and CEO Dave Harper. “Most importantly, these contracts add top-line revenue growth this year extending through to 2024 which will provide an even stronger base to build on.”

Endeavour Mining Corp Plc is one of the world’s senior gold producers and the largest in West Africa, with operating assets across SenegalCote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa. A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London and Toronto Stock Exchanges, under the symbol EDV.

Geodrill has been successful in establishing a leading market position in GhanaBurkina FasoCote d’Ivoire and Mali. The Company is also expanding its geographic presence into Egypt in North Africa, and Peru in South America. With the largest fleet of multi-purpose rigs, Geodrill provides a broad selection of diverse drilling services, including exploration, delineation, underground and grade control drilling, to meet the specific needs of its clients. The Company’s client mix is made up of senior mining, intermediate and junior exploration companies.

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