Eldorado Gold Provides Update on First Quarter 2024 Tax Impacts in Turkiye; and Provides Conference Call Details
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NEWS RELEASE
TSX: ELD NYSE: EGO April 9, 2024
Eldorado Gold Provides Update on First Quarter 2024 Tax Impacts in Turkiye; and
Provides Conference Call Details
VANCOUVER, BC – Eldorado Gold Corporation (“Eldorado” or the “Company”) today provides the following
updates on the tax impacts in Turkiye related to the weakening of the Turkish Lira in Q1 2024.
Tax Impacts in Turkiye for Q1 2024 Related to the Weakening Turkish Lira
The Company’s profits from mining operations in Turkiye are taxed at the enacted rate and the resulting current
income tax expense can be further increased or reduced by other items. For the first quarter, the Company expects
the Turkish current income tax expense on mining profits, at an enacted rate of 25%, to be further decreased by $9 to
$12 million. The estimated decrease is primarily attributable to investment tax credit s relating to Kisladag and
Efemcukuru, and the effects of inflation accounting, partly offset by taxable unrealized foreign exchange gains due to
the weakening of the Lira, against the US dollar, in the quarter.
Q1 2024 Financial and Operational Results Call Details
Eldorado will release its 2024 First Quarter Financial and Operational Results after the market closes on Thursday,
April 25, 2024, and will host a conference call on Friday, April 26, 2024, at 11:30 AM ET (8:30 AM PT). The call will
be webcast and can be accessed at Eldorado Gold’s website: www.eldoradogold.com, or via:
https://services.choruscall.ca/links/eldoradogold2024q1.html
Participants may elect to pre -register for the conference call via this link:
https://services.choruscall.ca/DiamondPassRegistration/register?confirmationNumber=10023172&linkSecurityString
=1f37ca0204. Upon registration, participants will receive a calendar invitation by email with dial in details and a unique
PIN. This will allow participants to bypass the operator queue and connect directly to the conference. Registration will
remain open until the end of the conference call.
Conference Call Details Replay (available until May 31, 2024)
Date: April 26, 2024 Vancouver: +1 604 638 9010
Time: 11:30 AM ET (8:30 AM PT) Toll Free: 1 800 319 6413
Dial in: +1 604 638 5340 Access code: 0758
Toll free: 1 800 319 4610
About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Türkiye,
Canada and Greece. 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
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Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
Media
Chad Pederson, Director, Communications
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 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 “anticipates”, “believes”, “budget”, “continue”, “estimates”, “expects”, “forecasts”,
“guidance”, “intends”, “plans”, “projected” or “schedu led” 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 the expected tax expense in Turkiye and the expected cause thereof. 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 re sults, 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 weakening of the Turkish Lira and the resulting generation of taxable unrealized foreign exchange gains in
Turkiye. In addition, 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 prove incorrect, actual results may vary materially from those described in forward -looking statements
or information. These risks, uncertainties and other factors include, among others: inability to assess taxes in Turkiye
or depreciation expenses; as well as those risk factors discussed in the sections titled “Forward -looking information
and risks” and “Risk factors in our business” in our 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 & Form 40-F filed
on SEDAR+ and EDGAR under our Company name, which discussion is incorporated by reference in this 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 U.S.