Eldorado Gold Announces New Senior Secured Credit Facility

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NEWS RELEASE

TSX: ELD NYSE: EGO May 13, 2019

Eldorado Gold Announces New Senior Secured Credit Facility

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

announce that the Company has received commitments from a syndicate of lenders for a US$450 million

Senior Secured Credit Facility (the “Facility”). The Facility consists of a US$200 million term loan (the “Term

Loan”) and a US$250 million revolving credit facility (the “RCF”). The Facility will replace the existing revolving

credit facility established by HSBC Bank Canada and certain other lenders.

The Facility is subject to completion of customary closing conditions, with expected completion of conditions

precedent on or prior to the end of Q2 2019.

Eldorado has received commitments for the Facility from HSBC, Bank of Montreal, National Bank of Canada,

BNP Paribas, Bank of America N.A. Canada Branch, Export Development Canada, and Ressources Québec Inc.

The Joint Lead Arrangers for the Facility were HSBC, BMO Capital Markets and National Bank Financial

Markets.

Term Loan and Revolving Credit Facility

The Company has outstanding approximately US$71 million in letters of credit issued to secure certain

obligations in connection with its operations, which, for the purposes of the Facility, are deemed to be

outstanding under the Facility.

Table 1: Key terms of the Facility

Term Loan Revolving Credit Facility (RCF)

Amount US$200 million US$250 million

Type Senior, secured, and to be fully

drawn at closing

Senior, secured, revolving, and a

portion to be deemed

outstanding at closing

Purpose Together with other proceeds, to

redeem the 6.125% Senior Notes

due 2020

General corporate, working

capital and capital expenditures

Repayments Six equal semi-annual payments

from June 30, 2020

Outstanding amounts due four

years from closing

Interest LIBOR plus margin of 2.25% - 3.25%

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

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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]

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 Canadian 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", "anticipates", or "believes" or the negatives thereof

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

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

connection with the new Senior Secured Credit Facility, the redemption of the existing unse cured notes due 2020.

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

uncertainties and other factors which may cause the actual results, performance or achievements o f the Company to be materially 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 represented by such statements or information are reasonable, there can be no assurance that the forward -looking statement

or information will prove to be accurate. Furtherm ore, should one or more of the risks, uncertainties or other factors materialize, or should

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

These risks, uncertain ties and other factors include, among others, the following: the need to negotiate and execute a [credit agreement] and

related documents; the need for continued cooperation of the lenders; gold price volatility; the need to obtain any required consents and related

documents, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries ; mining

operational and development risk; litigation risks; regulatory restrictions, including environmental regulatory restrictions and liability; risks 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 de fective 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 th at 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 herein. 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 Comp any's reports filed with the

securities regulatory authorities in Canada and the U.S.