Eldorado Gold Enters into Project Alliance with G Mining Services Strengthens Project Execution Through a Preferred Engineering and Construction Partnership
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NEWS RELEASE
TSX: ELD NYSE: EGO March 25, 2026
Eldorado Gold Enters into Project Alliance with G Mining Services
Strengthens Project Execution Through a Preferred Engineering and Construction
Partnership
VANCOUVER, BC – Eldorado Gold Corporation (TSX: ELD, NYSE American: EGO ) (“Eldorado” or the
“Company”) today announced that it has entered into a project alliance in the form of a Memorandum of
Understanding (“MoU”) with G Mining Services Inc. (“G Mining”), establishing a strategic engineering and construction
alliance to support project delivery across Eldorado’s portfolio.
Under the M oU, G Mining will provide engineering and construction services in support of Eldorado’s project
development and execution activities, including early project definition, engineering support, constructability reviews,
and planning. The agreement is intended to enhance project readiness, delivery certainty, and capital efficiency
across a range of current and future projects, including:
• Perama Hill;
• the Lamaque Complex, including the Sigma Mill expansion;
• Skouries, including construction support to complete mill start -up and ramp up , as well as underground
project infrastructure;
• Olympias, including the mill filtration modernization project and supporting facility upgrades; and
• McIlvenna Bay, including studies and potential implementation of projects to increase throughput, improve
value, and optimize materials handling (subject to completion of the proposed acquisition of Foran Mining).
“The MoU aligns with Eldorado’s strategy to maximize value from our sector-leading growth projects by leveraging G
Mining’s integrated owners team approach and proven engineering and execution capabilities,” said Simon Hille,
Chief Operating Officer of Eldorado Gold . “G Mining has demonstrated its ability to deliver high -quality projects on
time and on budget, most notably through the successful delivery of the Tocantinzinho project in Brazil. That
experience is directly relevant as they continue to advance and de-risk opportunities such as Mc Ilvenna Bay toward
first production. Establishing a preferred engineering and construction partner strengthens our project delivery model
through consistent teams, aligned ways of working, and a strong track record of safe reliable execution , positioning
Eldorado to maximize cash flow per share from our high-quality internal growth pipeline.”
“G Mining’s delivery model is built around engage d planning, talented and empowered teams, and our disciplined
execution model,” said Mathieu Gignac, President and CEO of G Mining Services Inc. “ The approach has delivered
strong outcomes across a range of projects, including our recent work at McIlvenna Bay. We are pleased to establish
this alliance with Eldorado Gold and look forward to supporting the successful delivery of projects across their
portfolio.”
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About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada,
Greece and Türkiye. 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).
Contact
Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
Cautionary Note about Forward-looking Statements and Information
Certain of the statements made and information provided in this news release are forward -looking statements or
forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian secu rities laws. Often, these forward -looking statements and forward -looking information
can be identified by the use of words such as “anticipates”, “believes”, “budgets”, "committed", “continue”, “estimates”,
“expects”, "focus", “forecasts”, "foresee", "forw ard", "future", "goal", “guidance”, “intends”, "opportunity", "outlook",
“plans”, “potential”, "schedule", "strategy", "target", “underway”, "working" or the negatives thereof or variations of
such words and phrases or statements that certain actions, even ts or results “can”, “could”, "likely", "may", “might”,
“will” or "would" be taken, occur or be achieved. Forward -looking statements and forward -looking information
contained in this news release includes, but is not limited to, statements or information with respect to: Eldorado’s
intent to enter into future business arrangements with G Mining, the range of projects which may be the subject of
those arrangements; management’s beliefs in the benefits of the engineering and construction alliance; future
statements with respect to the closing of the proposed acquisition with Foran Mining and generally our strategy, plans
and goals, including our proposed exploration, development, construction, permitting, financing and operating
potential, plans and priorities and related timelines and schedules.
Forward-looking statements and forward-looking information are by their nature based on a number of assumptions,
that management considers reasonable. However, such assumptions involve both known and unknown risks,
uncertainties, and other factors which, if proven to be inaccurate, may cause actual results, activities, performance or
achievements may be materially different from those described in the forward -looking statements or information.
These include assumptions concerning: timing, cost and results o f our construction and development activities,
improvements and exploration; the future price of gold, copper and other commodities; receipt of all required permits
on the timelines we expect; the global concentrate market; exchange rates; anticipated valu es, costs, expenses and
working capital requirements; our ability to continue accessing our project funding and remain in compliance with all
covenants and contractual commitments related thereto; availability of labour resources, including for constructio n,
development and improvements activities; production and metallurgical recoveries; Mineral Reserves and Mineral
Resources; our ability to effectively use invested capital and unlock potential expansion opportunities across the
portfolio; our ability to a ddress the negative impacts of climate change and adverse weather; consistency of
agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential
consumables (including fuel, explosives, cement, and cyanide); the impact and effectiveness of productivity initiatives;
the time and cost of shipping for important or critical items for construction, development and improvements activities
or necessary for anticipated overhauls of equipment; expected by -product grade s; the use, and impact or
effectiveness, of growth capital; the impact of acquisitions, dispositions, suspensions or delays on our business; the
sustaining capital required for various projects; and the geopolitical, economic, permitting and legal climate that we
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operate in. In addition, except where otherwise stated, Eldorado has assumed a continuation of existing business
operations on substantially the same basis as exists at the time of this news release. Even though we believe that the
assumptions and expecta tions 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.
Forward-looking statements and forward -looking information are subject to known and unknown risks, uncertainties
and other important factors that may cause actual results, activities, performance or achievements to be materially
different from those described in the forward-looking statements or information. These risks, uncertainties and other
factors include, among others: commodity price risk; development risks including the ability of key suppliers to meet
key contractual commitments in terms of schedul es, amount of product delivered, cost, or quality and our ability to
construct key infrastructure within the required timelines, and unexpected inclement weather and climate events that
may delay timelines; risks relating to our operations in foreign jurisdictions; risks related to production and processing;
risks related to our improvement projects; our ability to secure supplies of power and water at a reasonable cost;
prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on
infrastructure, commodities and consumables; inflation risk; community relations and social license; environmental
matters; our ability to completely understand geotechnical structures, geotechnical and hydrogeological conditions or
failures; regulatory requirements as they relate to mine plan approvals; waste disposal; mineral tenure; permits; non-
governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders;
estimation of Mineral Reserves and Mineral Resources; risks related to replacement of mineral reserves; regulatory
reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating
to any pandemic, epidemic, endemic, or simi lar public health threats; regulated substances; the acquisition of Foran
Mining Corporation, including timing, risks and benefits thereof; acquisitions, including integration risks; dispositions;
co-ownership of our properties; investment portfolio; volat ility, volume fluctuations, and dilution risk in respect of our
shares; competition; reliance on a limited number of smelters and off -takers; information and operational technology
systems; liquidity and financing risks; indebtedness (including current and future operating restrictions, implications
of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and
changes in credit ratings); total cash costs per ounce and AISC (particularly in relation to the market price of gold and
the Company’s profitability); currency risk; interest rate risk; credit risk; tax matters; financial reporting (including
relating to the carrying value of our assets and changes in reporting standards); the global economic envir onment;
labour (including in relation to availability of labour resources, including for including for construction, development
and improvements activities, and their productivity employee/union relations, employee misconduct, key personnel,
skilled workf orce, expatriates, and contractors); commodity price risk; default on obligations; current and future
operating restrictions; reclamation and long -term obligations; credit ratings; change in reporting standards; the
unavailability of insurance; Sarbanes -Oxley Act, applicable securities laws, and stock exchange rules; risks relating
to environmental, sustainability, and governance practices and performance; corruption, bribery, and sanctions;
employee misconduct; litigation and contracts; conflicts of intere st; compliance with privacy legislation; dividends;
tariffs and other trade barriers; and those risk factors discussed in our most recent Annual Information Form & Form
40-F. The reader is directed to carefully review the detailed risk discussion in our mo st recent Annual Information
Form & Form 40 -F filed on SEDAR+ and EDGAR under our Company name, which discussion is incorporated by
reference in this news release, for a fuller understanding of the risks and uncertainties that affect our business and
operations.
The inclusion of 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 United States.