Bruner in Nye County was Canamex's flagship asset and the transaction will be put to the junior's shareholders at a special meeting on August 25.
Canamex has said Bruner delivered "some of the best drill intercepts in Nevada" including 110m at 4.08g/t gold.
An updated preliminary economic assessment in 2018 had envisaged initial capex of $37.8 million, an after-tax NPV5 of $69.6 million and IRR of 31% using a $1,280/oz gold price.
It forecast average annual gold production of 43,700oz of gold and 45,400oz of silver over eight years, followed by two years of tailings recovery.
Canamex had flagged the potential sale of Bruner in April as it also announced a forbearance agreement with its debenture holder's agent.
Endeavour CEO Dan Dickson said the company was pleased to add an advanced-stage exploration project in a world-class jurisdiction to its pipeline.
"Bruner represents a good start on building an attractive gold-silver portfolio in Nevada and should be an accretive acquisition for our five-year strategic plan to become a premier senior silver producer, with potential for exploration discoveries, district acquisitions, near-term production and organic growth," he said.
Endeavour planned to initially verify Bruner's historical resource then turn its attention to the property's "many exploration targets".
The company has three underground silver-gold mines in Mexico and intends to deliver a feasibility study for its Terronera project in Jalisco state this quarter.
Having produced 3.9 million ounces silver-equivalent in the first half, Endeavour said its production was continuing to outpace 2021 guidance of 6.1-7.1Moz Ag-eq.
Endeavour shares (TSX: EDR) have ranged between C$4-$9.32 over the past year and closed down 0.3% yesterday to $6.04, valuing it about $1 billion (US$0.8 billion).
Canamex (CSE: CSQ) remains subject to a cease trade order issued in 2019. Its shares last changed hands at 15c.
