Eldorado Gold Announces Launch of US$300 Million Senior Secured Second Lien Notes Offering

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NEWS RELEASE

TSX: ELD NYSE: EGO May 13, 2019

Eldorado Gold Announces Launch of US$300 Million Senior Secured Second Lien

Notes Offering

Vancouver, British Columbia – Eldorado Gold Corporation (“Eldorado,” the “Company” or “We”) is pleased to

announce that the Company intends to offer up to US$300 million aggregate principal amount of senior

secured second lien notes due 2024 (the “Notes”), subject to market and other conditions. The interest rate

and other terms of the Notes will be determined based on prevailing market conditions.

Eldorado intends to use the net proceeds of the Notes, together with term loan proceeds incurred under a

new Senior Secured Credit Facility to be entered into in connection with the offering of the Notes and cash

on hand, to redeem its US$600 million 6.125% Senior Notes due December 2020 and to pay fees and expenses

in connection with the forgoing.

The Notes h ave not been registered under the United States Securities Act of 1933, as amended (the

"Securities Act"), or the securities laws of any state and may not be offered or sold absent registration under

the Securities Act or an applicable exemption from the registration requirements thereof. The Notes will be

offered and sold only to persons reasonably believed to be qualified institutional buyers in accordance with

Rule 144A under the Securities Act and to certain “non-U.S. persons” outside the United States in reliance on

Regulation S under the Securities Act and in each case pursuant to available prospectus exemptions from

securities laws of British Columbia. The Notes will be offered and sold outside of the US (including in Canada)

on a private placement basis pursuant to certain exemptions from applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any

sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to

registration or qualification under the securities laws of any such jurisdiction or an exemption therefrom. This

press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration

operations in Turkey, Canada, Greece, Romania, Serbia, and Brazil. The Company has a highly

skilled and dedicated workforce, safe and responsible operations, a portfolio of high -quality

assets, and long-term partnerships with local communities. Eldorado's common shares trade on

the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).

Contacts

Investor Relations

Peter Lekich, Manager Investor Relations

604.687.4018 or 1.888.353.8166 [email protected]

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Media

Louise Burgess, Director Communications & Government Relations

604.687.4018 or 1.888.353.8166 [email protected]

Cautionary Note Regarding Forward -Looking Statements

This news release contains forward looking statements and forward looking information within the meaning of applicable Canadi an and U.S.

securities laws. Often, but not always, forward -looking statements and forward-looking information can be identified by the use of words such as

"plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "antici pates", or "believes" or the negatives thereof

or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might " or "will" be taken,

occur or be achieved. Forward-looking statements or information herein include, but are not limited to the launch of the Notes, and the completion

of the transactions in connection with the offering of Notes and the new Senior Secured Credit Facility.

Forward-looking statements and forward -looking information by the ir nature are based on assumptions and involve known and unknown risks,

uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be material ly different from

any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain

assumptions about the forward -looking statements and information and even though our management believes that the assumptions made and

the expectations repr esented by such statements or information are reasonable, there can be no assurance that the forward -looking statement

or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materi alize, or sh ould

underlying assumptions prove incorrect, actual results may vary materially from those described in forward -looking statements or information.

These risks, uncertainties and other factors include, among others, the following: the need to negotiate and execute a purchase agreement and

related documents; the need for continued cooperation of the initial purchasers; the need to successfully market the offering ; gold price volatility;

the need to obtain any required consents and related documents, discrepan cies between actual and estimated production, mineral reserves and

resources and metallurgical recoveries; mining operational and development risk; litigation risks; regulatory restrictions, i ncluding environmental

regulatory restrictions and liability; ri sks of sovereign investment; currency fluctuations; speculative nature of gold exploration; global economic

climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements; and defective title to mineral claims

or property, as well as those factors discussed in the sections entitled “Forward -Looking Statements” and “Risk Factors” in the Company's Annual

Information Form & Form 40-F dated March 29, 2019.

There can be no assurance that 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. Accordingly, you should not place undue reliance on the forward -looking statements

or information contained her ein. Except as required by law, we do not expect to update forward -looking statements and information continually

as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the

securities regulatory authorities in Canada and the U.S.