Eldorado Gold Confirms Filing of Application for Payment in Greece
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NEWS RELEASE
TSX: ELD NYSE: EGO September 18, 2018
Eldorado Gold Confirms Filing of Application for Payment in Greece
VANCOUVER, BC – Eldorado Gold Corporation ( “Eldorado” or “the Company”) confirms that its Greek
subsidiary, Hellas Gold S.A. (“Hellas Gold”), has filed an A pplication for Payment (the “Application”) with
the Hellenic Republic (the “Greek State”). The Application requests payment of approximately €750 million
for damages suffered by the Company arising from delays in the issuance of permits for the Skouries project,
including damages for out of pocket costs and loss of profits . The Application is a non-judicial request for
payment and does not initiate legal proceedings.
George Burns, Eldorado Gold’s President and CEO said, “The Application represents a good-faith attempt
to resolve the matter with the Greek State as it relates to costs incurred resulting from permit delays to our
Skouries project. Eldorado has always acted in a manner consistent with finding a mutually-agreeable
solution to responsibly developing Skouries . We hope that this matter can be resolved in an amicable
manner without needing to go down the route of arbitration.”
About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in
Turkey, Greece, Romania, Canada 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).
Cautionary Note about Forward-looking Statements and Information
Certain of the statements made and information provided in this press release are forward -looking statements or information within the meaning
of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. O ften, these forward -looking
statements and forward-looking information can be identified by the use of words such as "plans", “goals”, "expects", "is expected", "budget",
“continue”, “projected”, "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", "might" or "will" be taken, occur or be achieved.
Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to
filing of an application for payment in Greece.
Forward-looking statements and forward -looking information by their nature are based on assumptions and in volve 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, including assumptions about the geopolitical, economic,
permitting and legal climate that we operate in; the future price of gol d and other commodities; exchange rates; anticipated costs and expenses;
production, mineral reserves and resources and metallurgical recoveries, the impact of acquisitions, dispositions, suspension s or delays on our
business and the ability to achieve our goals. In particular, except where otherwise stated, we have assumed a continuation of existing business
operations on substantially the same basis as exists at the time of this release.
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. Many assumptions may be
difficult to predict and are beyond our control.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions pr ove 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: geopolitical and economic climate (global and local), risks related to mineral tenure and permi ts; gold and other
commodity price volatility; recoveries of gold and other metals; results of test work; revised guidance; risks regarding potential and pending litigation
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and arbitration proceedings relating to the Company’s, business, properties and operations; expected impact on reserves and the carrying value; the
updating of the reserve and resource models and life of mine plans; mining operational and development risk; foreign country operational risks; risks
of sovereign investment; regulatory risks and liabilities including, regulatory environment and restrictions, and environmental regulatory restrictions
and liability; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical testing and recoveries; risks
related to the impact of the sale of our Chinese assets and the acquisition and integration of Integra on the Company’s operations; additional funding
requirements; currency fluctuations; community and non-governmental organization actions; speculative nature of gold exploration; dilution; share
price volatility; competition; loss of key employees; and defective title to mineral claims or properties, as well as those risk factors discussed in the
sections titled “Forward-Looking Statements” and "Risk factors in our business" in the Company's most recent Annual Information Form & Form 40-
F. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Information Form filed o n SEDAR under our
Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.
Forward-looking statements and information is designed to help you understand management’s current views of our near and longer term prospects,
and it may not be appropriate for other purposes. 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 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 Company's reports filed with the securities regulatory authorities in Canada and the U.S.
Contact
Investor Relations
Peter Lekich, Manager Investor Relations
604.687.4018 or 1.888.353.8166
Media
Louise Burgess, Director Communications and Government Relations
604.601.6679 or 1.888.363.8166