Eldorado Gold Files Three Separate Technical Reports
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NEWS RELEASE
TSX: ELD NYSE: EGO March 3, 2020
Eldorado Gold Files Three Separate Technical Reports
VANCOUVER, BC – Eldorado Gold Corporation ("Eldorado" or the "Company") today filed three separate
technical reports for its Kisladag, Olympias and Efemcukuru projects (the “Technical Reports”). Further to
the Company’s news release dated February 20, 2020 (Eldorado Announces 15 Year Mine Life at Kisladag;
Provides 2020 Guidance and Long-term Outlook) (“Guidance Release”), these Technical Reports have been
prepared pursuant to Canadian Securities Administrators' National Instrument 43 -101 - Standards of
Disclosure for Mineral Projects (“NI 43 -101”), and may be found on the Company’s website
(www.eldoradogold.com) or under the Company's SEDAR profile (www.sedar.com).
Technical Report, Kisladag Gold Mine, Turkey (the “Kisladag Technical Report”)
The Kisladag Technical Report, with an effective date of January 17, 2020, was prepared by the following
Qualified Persons as defined by NI 43 -101: Stephen Juras, P. Geo., David Sutherland, P.Eng., Paul
Skayman, FAusIMM, Richard Miller, P.Eng., and Sean McKinley, P.Geo., and has been filed to confirm a 15-
year mine life based on the completed long -cycle heap leach testwork and the replacement of the tertiary
crushing circuit with a high-pressure grinding roll circuit and to confirm the Company’s updated disclosure of
mineral reserves contained in its Guidance Release.
Technical Report, Olympias Mine, Greece (the “Olympias Technical Report”)
The Olympias Technical Report, with an effective date of December 31, 2019, was prepared by the following
Qualified Persons as defined by NI 43 -101: David Sutherland, P.Eng., Ertan Uludag, P. Geo., Colm Keogh,
P. Eng., Paul Skayman, FAusIMM, and Sean McKinley, P.Geo, and has been filed to update certain scientific
and technical information regarding the operations at the Olympias Mine.
Technical Report, Efemcukuru Gold Mine, Turkey (the “Efemcukuru Technical Report”)
The Efemcukuru Technical Report, with an effective date of December 31, 2019, was prepared by the
following Qualified Pers ons as defined by NI 43 -101: Ertan Uludag, P. Geo., Imola Gotz, P. Eng., Paul
Skayman, FAusIMM, David Sutherland, P.Eng., and Sean McKinley, P.Geo., and has been filed to update
certain scientific and technical information regarding the operations at the Efemcukuru Gold Mine.
For further information regarding the results of the Technical Reports, please refer to the Company’s material
change report filed under the Company's SEDAR profile (www.sedar.com).
About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey,
Canada, Greece, Romania, 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).
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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 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. Often, these forward -looking statements and
forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", “continue”, “projected”, "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and ph rases 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 r espect to: our guidance
and outlook, including expected production, cost guidance and recoveries of gold, including increased heap leach recoveries through increased leach time
in conjunction with a high pressure grinding roll at Kisladag, favourable economics for our heap leaching plan and the ability to extend mine life at our
projects, including at Kisladag, improved production at Olympias, expanded production, expectations regarding repayment of ou tstanding debt, planned
capital and exploration expenditures; our expectation as to our future financial and operating performance, expected metallurgical recoveries, improved
concentrate grade and quality, gold price outlook and the global concentrate market; and our strategy, plans and goals, including our proposed exploration,
development, construction, permitting and operating plans and priorities and related timelines and schedules and results of litigation a nd arbitration
proceedings.
Forward-looking statements and forward -looking information by their nature are based on assumptions and involve known and unknown risks, market
uncertainties and other factors, which may cause the actual results, performance or achievements of 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, including assumptions about the geopolitical, economic,
permitting and legal climate that we operate in; the future price of gold and other commodities; the global concentrate market; exchange rates; anticipated
costs and expenses; production, mineral reserves and resources and metallurgical recoveries, the impact of acquisitions, disp ositions, suspensions or
delays on our business and the ability to achieve our goals. In particular, except where otherwise stated, we have assumed a continuati on of existing
business operations on substantially the same basis as exists at the time of this release.
Even though our managemen t 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: results of further testwork, recoveries of gold and other metals; geopolitical and economic climate (global an d local), risks related to mineral
tenure and permits; gold and other commodity price volatility; continued softening of the global concentrate market; risks rega rding potential and pending
litigation 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; financing risks, foreign country operational
risks; risks of sovereign investment; regulatory risks and liabilities including, environmental regulatory restrictions and liability; discrepancies between actual
and estimated production, mineral reserves and resources and metallurgical testing and recoveries; additional funding require ments; currency fluctuations;
community and non-governmental organization actions; speculative nature of gold exploration; dilution; share price volatility and the price of the common
shares of the Company; competition; loss of key employees; and defective title to min eral 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 and other regulatory filings filed on SEDAR
under our Company name, which discussion is incorporated by reference in this release, for a fuller understanding of the risk s 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.
Financial Information and condensed statements contained herein or attached hereto may not be suitable for readers that are unfamiliar with the Company
and is not a substitute for reading the Company’s financial statements and related MD&A available on our website and on SEDAR under our Company
name. The reader is directed to carefully review such document for a full understanding of the financial information summarized herein.
Except as otherwise noted, scientific and technical information contained in this press release was reviewed and approved by Paul Skayman, FAusIMM,
Special Advisor to the Chief Operating Officer, a "qualified person" under NI 43-101.