ELD.TO · 2019-09-05 12:00:00

Eldorado Gold Provides an Exploration Update on the Lower Triangle Deposit

Exploration Programs

NEWS RELEASE

TSX: ELD NYSE: EGO September 5, 2019

VANCOUVER, BC - Eldorado Gold Corporation ("Eldorado" or the "Company") is pleased to provide results

of its exploration activities completed since Q4 2018 at the Lamaque Project in Quebec, Canada . These

results have successfully expanded high grade mineralization beyond the 2018 resource model in the lower

portion of the deposit as well as an expanded bulk stockwork zone below 1,250 metres.

Highlights*

• Multiple high grade step-out intersections at the Triangle Deposit significantly expand the resource

potential of the C7, C9, C9b, and C10 shear zones, including intercepts of:

o 3.85m at 19.33 g/t Au; 32.53 g/t Au uncapped (C7; TM-16-191M01)

o 9.30m at 10.72g/t Au (C7; TM-18-327W02)

o 5.30m at 12.22g/t Au; 17.23 g/t Au uncapped (C9b; TM-18-327W01)

• Large vein stockwork zones potentially amenable to bulk mining further defined in the lower Triangle

Deposit area, including:

o 64.50m @ 3.00 g/t Au; 6.38 g/t Au uncapped (zone below C9, TM-15-020W03M01)

• Step-out drilling at the Plug 4 Deposit expanded the depth extent of mineralization for an additional

500 vertical metres down-plunge of the previous resource

*All assays capped at 40.0 g/t Au unless otherwise noted.

George Burns, President and CEO of Eldorado Gold said, “Over the last 12 months our surface exploration

drilling at Lamaque has focused on better defining the resource potential in the less-explored lower portion

of the Triangle Deposit with a view to expa nding mineral resources in 2020 . At the same time our

underground drilling continues to focus on conversion of existing resources to reserves in the C5 and lower

C4 mineralized zones.”

“These exciting results significantly increase the resource potential of the lower Triangle Deposit, which now

shows continuity of mineralization to similar depths as the nearby historic Sigma mine. This asset continues

to underpin our vision of building a long-term business in the eastern Abitibi and growing value for our

shareholders.”

Triangle Deposit Exploration Summary

Exploration drilling at the Triangle Deposit from Q4 2018 to date targeted the area below the C5 ore zone at

depths of 1,000-1,800 metres from surface. Results shown here are based on 35,526 metres of diamond

drilling, of which 22,650 metres targeted the lower Triangle Deposit, with the remainder testing other zones

in the Sigma-Lamaque project area. This drilling was completed from surface platforms, with most holes at

the Triangle Deposit wedged from previous exploration drillholes.

High gold grades within this interval occur in both steep shear zone-hosted veins and in irregular networks

of extensional veins peripheral to the shear zones.

Mineralized shear zones in the lower deposit include C6, C7, C8, C8b, C9, C9b, and C10 as well as numerous

secondary splays either parallel to , or branching off , these primary structures (Figure 1) . Through this

interval, t he main shear zones steepen gradually with depth, accompanied by an increase in density of

mineralized secondary splays and extensional vein networks. At depth, the combination of the steep shear

zones and extensional vein networks represent potential bulk mining targets, similar to areas mined at the

nearby historic Lamaque Mine. Both styles of mineralization are localized within and peripheral to diorite

plugs, the most significant of which is the Triangle diorite.

Figure 1: Cross sectional view of the Triangle Deposit looking west, showing traces of drillhole completed since early Q4 2018,

outline of the Triangle diorite, and mineralized zones referred to in this news release.

Assays have been received from 17 drillholes completed in the lower Triangle Deposit since early Q4 2018,

all of which intersected significant zones of mineralization. Table 1 (below) lists significant intercepts ,

including estimated true widths where possible and both actual assay composites and values calculated with

a 40 g/t cap applied to individual assays. References to intercepts in the text represe nt actual drillhole

lengths while those on figures 2-4 are true widths of mineralized zones.

Shear Zone Hosted Mineralization

The most continuous and consistently mineralized shear zones in the lower Triangle deposit include C7, C9,

C9b, and C10. These shear zones are similar in character to the main ore-bearing shear zones in the upper

Triangle Deposit (C1-C5), with strongly foliated wall rock margins overprinted by sericite -albite-carbonate-

Existing

Ramp

pyrite alteration and enclosing variably deformed quartz-carbonate-tourmaline veins. Gold is contained

within both the vein and deformed wall rock.

C7: The C7 mineralized zone is hosted within a large ductile -brittle shear zone, which offset s the Triangle

intrusion approximately 100m. Drilling to date has delineated the C7 mineralized zone over a strike length

of approximately 600 metres and a dip extent of 500 metres. The thickness of the shear zone in this area

measures up to 20 metres.

Significant new drill intercepts from C7 include:

• 3.85m @ 19.33 g/t Au; 32.53 g/t Au uncapped (TM-16-191M01)

• 3.08m @ 10.93 g/t Au (TM-18-321AW04M02)

• 9.30m @ 10.72 g/t Au (TM-18-327W02)

• 5.60m @ 9.40 g/t Au (TM18-327W03)

All of these intercepts are from the easternmost area tested on C7, well outside of the 201 8 inferred

resource outline (Figure 2). These are some of the best grades and thicknesses obtained to date on C7, and

the zone remains open further to the east. Current drilling is testing the updip extension of the C7 Zone,

above where thick, high grade intercepts have been defined at elevations roughly equivalent to the lower

limit of the C5 zone resource.

Figure 2: Longitudinal section through the C7 mineralized zone, showing piercing points of drillholes and grade x true thickness

contours, Au capped at 40 g/t.1

1 Labeled piercing points are limited to new intercepts exceeding 10.0 g/t x m. For all zones, best new results are from the eastern portion of the

zone, well outside the limits of the current inferred resource. The mineralized zones remain open to the east outside of these new intercepts.

C9/C9b/C10: The C9, C9b, and C10 shear zones collectively define a tabular, steeply south dipping to

subvertical corridor ranging from 70 metres to over 120 metres wide. The C10 shear zone is a ductile-brittle

fault zone similar to the C7 zone, and displaces the Triangle diorite by at least 100m. This corridor is steeper

than the shear zones above, and contains numerous splay structures and extension vein arrays defining large

zones of veining and alteration. High gold grades in this corridor occur within the principa l shear zones, as

well as in secondary splays and extensional vein arrays flanking shear-hosted zones, and are concentrated

near the contacts of and within diorite intrusions. Drilling to date has tested this structural corridor over a

strike length of approximately 600 metres and a vertical extent of 500 metres . Within the drilled area, C9b

and C10 show best continuity and grade of shear-hosted mineralization.

Significant new drill intercepts from C9, C9b, and C10 include:

• 6.00m @ 10.11 g/t Au (C9; TM-15-020W01)

• 3.40m @ 13.47 g/t Au (C9, TM-18-321AW05)

• 4.80m @ 5.06 g/t Au (C9, TM-18-327W01)

• 5.30m @ 17.23 g/t Au (C9b, TM-18-327W01)

• 3.40m @ 10.32 g/t Au (C9b, TM-18-327W03)

• 6.60m @ 4.89 g/t Au (C10, TM-15-020W02)

• 4.00m @ 10.17 g/t Au (C10, TM-16-220W05)

Similar to C7, most of the best grades and thicknesses were obtained from the easternmost drillholes testing

the system, outside of the current inferred resource . The mineralized shear zones remain open updip and

to the east along a shallow ly east-plunging axis (Figures 3 and 4), parallel to the intersection of the shear

zones and the Triangle diorite.

Figure 3: Longitudinal section through the C9b mineralized zone, showing piercing points of drillholes and grade x true thickness

contours. Au capped at 40 g/t. 1

Figure 4: Longitudinal section through the C10 mineralized zone, showing piercing points of drillholes and grade x true thickness

contours. Au capped at 40 g/t. 1

C6, C8, and associated splays: The C6 and C8 shear zones have both been defined through drilling over a

vertical extent of approximately 500m. Although both have local wide, high grade intercepts, drilling

completed to date has not established the level of grade continuity found in the C7, C9, C9b, C10, and upper

Triangle shear zones. However, numerous high grade intervals occur within secondary splays associated

with C6, C8, and the deep er shear zones. Where their orientation is constrained, these secondary splays

tend to have shallower dips than the main shear zones. The splays are most abundant near contacts of the

Triangle diorite and other intrusions. Significant new intercepts from C6, C8, and these splays include:

• 4.30m @ 16.63 g/t Au; 20.62 g/t Au uncapped (splay between C8 and C9, TM-15-020W01)

• 2.40m @ 23.76 g/t Au; 78.62 g/t Au uncapped (splay between C9b and C10, TM15-020W03M01)

• 1.70m @ 14.75 g/t Au; 1,038.70 g/t Au uncapped (splay below C10, TM15-020W03M01)

• 4.70m @ 9.57 g/t Au (splay between C9b and C10, TM15-020W04)

• 5.25m @ 9.96 g/t Au; 13.14 g/t Au uncapped (C8, TM-15-053)

• 4.30m @ 21.24 g/t Au; 37.74 g/t Au uncapped (splay between C9b and C10, TM-18-321AW05)

• 3.50m @ 17.26 g/t Au; 22.03 g/t Au uncapped (splay between C9 and C9b, TM-18-327W01)

• 2.30m @ 17.07 g/t Au; 22.19 g/t Au uncapped (splay between C9 and C9b, TM-18-327W02)

Ongoing drilling of the lower Triangle Deposit will better define continuity of mineralized zones h osted by

these shear zones and splays.

Stockwork zones: Stockwork zones in the Triangle Deposit represent vein networks composed of shear-

hosted and extensional veins with associated alteration and mineralization , which combine to form over

10% of the rock volume. These zones vary in size and shape, but can have longest dimensions of over 100m

(Figure 5) . They are similar in structural and minera lization style to the stockwork zones mined at the

historical Lamaque Mine, located 2.5km to the northwest of the Triangle Deposit. Recent stockwork zone

intercepts include:

• 54.00m @ 3.98 g/t Au; 4.78 g/t Au uncapped (zone between C9 and C9B, TM-18-327W01 )

• 64.50m @ 3.00 g/t Au; 6.38 g/t Au uncapped (zone below C9, TM-15-020W03M01)

• 52.80m @ 2.67 g/t Au; 4.94 g/t Au uncapped (zone below C10, TM-15-020W04)

• 37.5m @ 3.62 g/t Au; 4.37 g/t Au uncapped (TM-18-327W03)

Stockwork zones are best developed within and near the Triangle diorite. Extensional veins within them are

mainly subhorizontal to gently dipping, while the shear and shear-extensional veins dip steeply south.

Figure 5: Cross section through the C9/C9b/C10 structural corridor showing extent of stockwork mineralization and intercepts in

several drillholes highlighted in this news release (in red text). Stockwork vein networks, consisting of both shear-hosted veins

and extension veins, are focused within and adjacent to the lower part of the Triangle diorite, which forms a discrete body in the

footwall to the C10 shear zone. Mineralization remains open down-plunge and along strike.

Plug #4 Deposit Exploration Update

Two new drillholes were completed at the Plug 4 deposit, testing for continuity of mineralization below the

extent of the previous drilling. Both drillholes intersected wide mineralized stockwork zones featuring shear

veins flanked by extension vein arrays, similar in style and grade characteristics to those forming the main

deposit area. The host Plug 4 intrusion has now been tested to a depth of 1, 500m from surface, and

mineralization remains open down plunge.

Table 1: Significant recent exploration drillhole intercepts from the Triangle deposit. Results are limited to

intervals with grade times thickness exceeding 20 gram/tonne-metres.

Hole ID From

(m)

Width

(m)

Est. true

width (m)

Au, capped

at 40 g/t

Au (g/t)

uncapped Zone / style

TM-15-020W01 1500.90 1563.70 62.80 2.36 2.64 Stockwork Zone

including 1500.90 1505.20 4.30 3.71 16.63 20.62 Splay (C8-9)

also including 1545.00 1551.00 6.00 3.55 - 10.11 C9

and 1607.75 1669.20 61.45 1.10 Stockwork Zone

including 1667.30 1669.20 1.90 17.46 Extension veins

TM-15-020W02 1533.90 1571.00 37.10 - 1.74 Stockwork Zone

including 1561.90 1567.20 5.30 - 5.49 Extension veins

and 1649.20 1675.10 25.90 - 4.30 Stockwork Zone

including 1654.30 1656.70 2.40 - 9.65 Extension veins

also including 1660.00 1667.10 7.10 - 5.67 Extension veins

also including 1669.10 1674.60 5.50 4.99 - 7.09 Splay (C9-10)

and 1700.50 1836.80 136.30 - 1.75 Stockwork Zone

including 1745.00 1751.60 6.60 3.50 - 4.89 C10

also including 1757.00 1766.00 9.00 - 3.79 Extension veins

also including 1833.00 1836.80 3.80 - 13.98 Extension veins

and 1892.00 1922.70 30.70 - 0.96 Stockwork

TM-15-020W03M01 1489.80 1490.40 0.60 0.60 40.00 61.49 Extension vein

and 1503.50 1568.00 64.50 3.00 6.38 Stockwork Zone

including 1503.50 1506.00 2.50 2.27 11.14 11.14 Splay (C8-9)

also including 1507.30 1510.90 3.60 3.28 10.28 10.28 Splay (C8-9)

also including 1513.50 1518.10 4.60 14.54 61.90 Extension veins

also including 1537.40 1539.80 2.40 - 11.01 Extension veins

and 1651.80 1675.40 23.60 3.03 8.61 Stockwork Zone

including 1656.00 1658.40 2.40 2.19 23.76 78.62 Splay (C9b-10)

and 1700.70 1786.50 85.80 1.11 21.79 Stockwork Zone

including 1747.70 1749.40 1.70 1.56 14.75 1,038.70 Splay (below C10)

also including 1782.70 1786.50 3.80 6.05 14.74 Extension veins

and 1812.80 1817.10 4.30 3.93 - 6.74 Splay (below C10)

and 1846.00 1878.40 32.40 - 1.45 Stockwork Zone

including 1860.90 1862.40 1.50 14.65 15.34 Extension veins

TM-15-020W04 1514.40 1515.10 0.70 0.70 40.00 48.21 Extension vein

and 1534.80 1567.00 32.20 2.91 3.00 Stockwork Zone

including 1546.80 1550.70 3.90 11.68 12.38 Extension veins

also including 1562.00 1567.00 5.00 4.52 - 7.05 Splay (C9/9b)

and 1623.00 1627.50 4.50 7.11 8.29 Extension veins

and 1649.60 1669.80 20.20 - 4.55 Stockwork Zone

including 1658.00 1659.20 1.20 - 19.18 Extension vein

also including 1662.30 1667.00 4.70 4.25 - 9.57 Splay

and 1693.50 1696.10 2.60 2.35 - 8.48 Splay

and 1753.70 1796.30 42.60 - 1.04 Stockwork Zone

and 1809.50 1862.30 52.80 2.67 4.94 Stockwork Zone

including 1809.50 1811.50 2.00 14.95 Splay (below C10)

and 1823.30 1826.60 3.30 17.94 53.68 Extension veins

and 1870.40 1905.10 34.70 - 1.69 Stockwork

including 1899.60 1905.10 5.50 - 4.90 Extension vein

and 1972.60 1996.90 24.30 1.17 Stockwork

TM-15-053W01 1222.25 1225.35 3.10 2.75 - 9.15 C7

TM-15-053 1426.00 1431.25 5.25 4.30 9.96 13.14 C8

and 1623.50 1624.25 0.75 40.00 55.82 Extension vein

TM-16-182AW02 917.70 920.20 2.50 2.26 - 11.77 C5

Hole ID From

(m)

Width

(m)

Est. true

width (m)

Au, capped

at 40 g/t

(g/t) Zone / style

TM-16-191M01 1195.40 1199.25 3.85 3.06 19.33 32.53 C7

TM-16-220W04 727.80 730.50 2.70 2.57 - 14.76 C4-40

TM-16-220W05 1627.15 1631.15 4.00 2.66 - 10.17 C10

TM-16-233W01 788.40 791.60 3.20 2.51 10.04 27.98 Splay (C4/5)

TM-18-321AW04M02 1322.70 1331.20 8.50 7.45 11.79 15.98 C6-20

and 1502.45 1505.50 3.05 2.02 - 10.93 C7

TM-18-321AW05 1644.50 1647.20 2.70 2.09 - 10.08 Splay (C8b/9)

and 1701.00 1704.40 3.40 2.74 - 13.47 C9

and 1788.50 1792.80 4.30 3.30 21.24 37.74 Splay (C9b/10)

and 1912.00 1917.60 5.60 4.27 - 5.69 Splay (below C10)

and 1945.00 1945.50 0.50 40.00 46.78 Extension vein

TM-18-326M01 506.32 510.31 3.99 2.77 - 6.34 C2

and 843.34 853.16 9.82 8.42 - 4.10 C4

TM-18-327 976.15 982.00 5.85 4.20 - 6.20 C5

TM-18-327W01 1540.20 1563.90 23.70 - 1.61 Stockwork Zone

and 1627.20 1681.20 54.00 3.98 4.78 Stockwork Zone

including 1629.40 1634.20 4.80 3.47 - 5.06 C9

also including 1661.50 1665.00 3.50 2.94 17.26 22.03 Splay (C9/9b)

also including 1670.20 1675.50 5.30 3.59 12.22 17.23 C9B

and 1751.90 1758.20 6.30 - 3.19 Extension veins

TM-18-327W02 1338.90 1348.20 9.30 7.72 - 10.72 C7

and 1501.50 1503.40 1.90 1.55 13.24 23.27 Splay (C8/C8b)

and 1626.20 1685.00 58.80 2.48 3.00 Stockwork Zone

including 1638.50 1640.80 2.30 1.82 17.07 22.19 Splay (C9/9b)

also including 1647.40 1655.10 7.70 - 2.91 Extension veins

also including 1674.50 1685.00 10.50 5.21 7.02 Extension veins

and 1795.00 1814.00 19.00 - 1.60 Stockwork Zone

TM-18-327W03 1321.20 1326.80 5.60 4.50 - 9.40 C7

and 1428.80 1431.10 2.30 1.89 - 11.02 C8

and 1484.40 1488.20 3.80 2.91 13.96 17.46 C8b

and 1526.50 1553.30 26.80 - 3.82 Stockwork Zone

including 1526.50 1528.50 2.00 - 19.12 Splay (C8b-C9)

also including 1535.00 1543.30 8.30 - 3.45 Extension veins

and 1670.50 1708.00 37.50 3.62 4.37 Stockwork Zone

including 1670.50 1673.20 2.70 19.14 29.56 Splay (C9/C9b)

also including 1678.60 1682.00 3.40 2.10 - 10.32 C9B

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