Cream Board of Directors Recommends Acceptance of Amended Endeavour Offer Endeavour Reminds Cream Shareholders of Deadline (2pm, December 6) to Accept the Amended Offer

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/01/10 -- Endeavour Silver Corp. (TSX: EDR)(NYSE Amex: EXK)(DBFrankfurt: EJD) announced on November 19, 2010 an amended offer ('Amended Offer') to purchase all of the outstanding common shares ('Cream Shares') of Cream Minerals Ltd. ('Cream') on the following basis:

a. Cdn.$0.14 in cash per Cream Share; or

b. 0.02575 of a common share of Endeavour per Cream Share.

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 THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 2:00 P.M. (PACIFIC TIME) ON DECEMBER
                                  6, 2010.
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  CREAM SHAREHOLDERS ARE URGED TO TENDER THEIR SHARES TO THE AMENDED OFFER
                               WITHOUT DELAY.
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 IN THE EVENT THE 'MINIMUM TENDER CONDITION' OF AT LEAST 50.1% OF THE CREAM
SHARES BEING TENDERED BY THE EXPIRY OF THE AMENDED OFFER ON DECEMBER 6, 2010
 IS NOT MET, THERE IS NO ASSURANCE THAT THE AMENDED OFFER WILL BE EXTENDED,
              IN WHICH EVENT THE AMENDED OFFER WILL TERMINATE.
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On November 23, 2010, the Board of Directors of Cream ('Board') announced that it had filed a Notice of Change ('Cream Notice of Change') in relation to the Amended Offer, amending and supplementing its supplementary directors' circular of October 29, 2010. The Cream Notice of Change stated the following:

--  Capital West Partners had delivered to the independent committee
    ('Independent Committee') of the Board a fairness opinion that the
    consideration offered to shareholders of Cream ('Cream Shareholders')
    under the Amended Offer is fair, from a financial point of view, to the
    Cream Shareholders.
--  The Independent Committee delivered to the Board its unanimous
    recommendation that the Board recommend to Cream Shareholders who wish
    to realize upon their investment to accept the Amended Offer and tender
    their Cream Shares to the Amended Offer.
--  The Board, by majority vote, concluded that the Amended Offer is fair,
    from a financial point of view, to Cream shareholders, and recommends
    that Cream Shareholders who wish to realize upon their investment in
    Cream Shares at this time accept the Amended Offer.

Cream Shareholders should note the following from the Cream Notice of Change:

--  The Amended Offer is the only offer for 100% of the Cream Shares that is
    available for acceptance by the Cream Shareholders and offers Cream
    Shareholders an opportunity for immediate liquidity and certainty of
    value. No superior proposal is currently expected by the Board.
--  Cream's ability to continue as a going concern is dependent on its
    ability to obtain additional financing. If the Amended Offer is not
    successful and for any reason Cream cannot or does not complete the
    transaction contemplated by the purchase and joint venture offer of
    Minco Silver Corporation ('Minco Offer'), Cream will have an immediate
    need for additional financing.
--  There are significant risks and uncertainties related to the Minco Offer
    which are described in further detail below.
--  The technical report prepared on the Nuevo Milenio property was prepared
    by F. Holcapek who is a 'Qualified Person' but is not independent of
    Cream within the meaning of NI 43-101, Standards of Disclosure for
    Mineral Projects. It is possible that an independently prepared mineral
    resource estimate could be materially different from the inferred
    mineral resource estimates contained in the Report.

Market Considerations

--  The recent increases in the share price of Cream were solely the result
    of the Amended Offer, in the absence of which Cream Shares can be
    expected to return to lower historic trading prices.
--  In the event the 'Minimum Tender Condition' of at least 50.1% of the
    Cream Shares (on a fully diluted basis) being deposited under the
    Amended Offer and not withdrawn by the expiry of the Amended Offer on
    December 6 is not met, there is no assurance that the Amended Offer will
    be extended, in which event the Amended Offer will lapse.

The Minco Offer is not a viable alternative

There are significant risks and uncertainties related to the Minco Offer including:

--  The Minco Offer is not irrevocable and can be withdrawn by Minco at any
    time. It is also subject to governmental, regulatory and stock exchange
    approvals which may include shareholder approval.
--  There is no obligation for Minco to incur work expenditures and earn an
    additional 20% in the Nuevo Milenio project or to develop the property
    at all. Cream will be required to contribute its share of expenses on
    the Nuevo Milenio project, either on the basis of 50% if Minco fails to
    exercise its option, or on the basis of 30% if Minco exercises its
    option.
--  There is no assurance that Cream will have sufficient funds to maintain
    its interest in the Nuevo Milenio project and if its interest is diluted
    to less than 10%, Cream's interest will convert to a 1% net smelter
    returns royalty.
--  Minco is a non-producing mineral exploration company whose principal
    mineral property is located in China. Minco has no experience operating
    in Mexico and holds no mineral interests in Mexico.
--  If Cream cannot implement the transaction contemplated by the Minco
    Offer, it will require additional financing. Current market conditions,
    the challenging funding environment and the recent low trading price of
    the Shares may make it difficult for Cream to raise sufficient funds
    through equity financings. There can be no assurance that the required
    funding will be available to the Company on acceptable terms, or at all,
    and completion of future financings may result in substantial dilution
    for Shareholders.

Shareholders are encouraged to review the Offer material for full details and act quickly. If you require additional copies of the Offer materials or require assistance tendering your shares, please contact Endeavour's Information Agent, Laurel Hill Advisory Group toll free at 1-877-304-0211 (416-304-0211 collect) or by email at assistance@laurelhill.com. A copy of these materials can also be accessed on SEDAR at www.sedar.com or the company's website at www.edrsilver.com.

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THE OFFER IS OPEN FOR ACCEPTANCE UNTIL 2:00 P.M. (PACIFIC TIME)

ON DECEMBER 6, 2010.

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Endeavour Silver Corp. is a small-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 five consecutive years of growing silver production 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.

ENDEAVOUR SILVER CORP.

BRADFORD COOKE, Chairman and Chief Executive Officer

Contacts:

Endeavour Silver Corp.

Hugh Clarke

Toll free: 877-685-9775 or (604) 685-9775

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