Eldorado Gold Publishes 2024 Sustainability Report; Sustainability From the Ground Up
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NEWS RELEASE
TSX: ELD NYSE: EGO May 13, 2025
Eldorado Gold Publishes 2024 Sustainability Report;
Sustainability From the Ground Up
(All amounts expressed in U.S. dollars unless otherwise noted)
VANCOUVER, BC – Eldorado Gold Corporation (“Eldorado” or “the Company”) is pleased to announce
the publication of its 202 4 Sustainability Report (the “Report”), which provides details of the Company’s
environmental, social and governance (“ESG”) performance over the past year. The Report is available on
Eldorado’s website (https://www.eldoradogold.com/sustainability/reporting).
"At Eldorado, we integrate sustainable practices into every aspect of our business . From prioritizing the
safety and well -being of our employees to fostering lasting relationships with our host communities, our
dedication to doing things the right way is reflected in the achievements we celebrate today ”, said George
Burns, Eldorado’s President and CEO.
“Our sustainability framework embodies our commitment to consider sustainability in everything we do,
from exploration to post-closure, to our relationships with communities, investors, customers, and other
important stakeholders. Our framework is underpinned by our Sustainability Integrated Management
System ( “SIMS”), which sets company -wide performance standards in sustainability. In 2024, we
successfully completed SIMS compliance verifications at Kisladag and Efemcukuru in Turkiye. Notably, this
was also the first time a Mining Association of Canada’s Towards Sustainable Mining (“MAC-TSM”)
verification had been conducted by any company in T urkiye in nearly a decade and we are very proud of
the scores achieved.”
2024 Report Highlights and Achievements:
(Organized by the four pillars of our Sustainability Framework)
Safe, Inclusive and Innovative Operations
At Eldorado, we prioritize a positive culture of health and safety where everyone values their own and
others’ safety and well-being. We have policies, procedures and systems in place to support a safe and
healthy working environment.
• 50% women on our Board of Directors and 40% women on our senior management team as of
December 31, 2024.
• Reduced total recordable injury frequency rate by 30% to 3.24 compared to 4.65 in 2023.
• Zero Fatalities across our global sites – marking the 7th consecutive year. We remain focused on
driving an engaged safety -first culture, as part of our commitment to eliminating fatalities, serious
injuries and occupational diseases.
• Reduced potentially fatal occurrence frequency rate by 27% to 0.54 compared to 0.74 in 2023.
• Successfully introduced a new health and safety initiative , Courageous Safety Leadership . This
initiative is aimed at preventing high -potential incidents and further empower our employees to
promote a positive health and safety culture.
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• Continued to support diversity within our supply chain through partnerships with women -led
businesses, including but not limited to our ongoing sponsorship of the Artemis Project, which
brings together women entrepreneurs connected to the mining industry.
Engaged and Prosperous Communities
The communities near our sites experience the most direct social, environmental and economic impacts
and opportunities resulting from our mining operations . We engage with stakeholders and Indigenous
communities to discuss challenges, share successes and address concerns for better outcomes.
• Committed to local employment and procurement:
o Achieved 98% employment from the countries in which we operate with 82% employment
from the local communities surrounding our global operations.
o Paid over $851 million to domestic suppliers, an increase of 23% compared to 2023.
• Made $4.4 million in community investments, focused in the areas of education and youth, the
environment, community infrastructure, health and well-being and economic development.
Healthy Environments Now and for the Future
As a global company, we are subject to the environmental laws and regulations in each of our operating
jurisdictions. We work closely with our regional teams to understand local regulations and align our
environmental practices to meet these requirements and our SIMS standards . We continue to take steps
to operationalize energy and greenhouse gas ( “GHG”) emissions standards within SIMS in support of our
Climate Change Strategy.
• Zero major environmental incidents and no significant spills across Eldorado’s global sites.
• As part of a multi -year effort, we reclaimed, removed, and properly stored 288,000 tonnes of
historical tailings, pyritic materials, and contaminated soils, originally generated by prior operators,
at the Kokkinolakkas Tailings Management Facility as a part of our commitment to the community.
These materials came from legacy mining activities at Olympias and Stratoni.
• Continued to implement our Climate Change Strategy
• Recognized as one of 30 companies in the Globe & Mail’s ‘Road to Net Zero’ for the Globe’s Report
on Business Magazine, based on research from Sustainalytics, which highlights Canadian
companies that are taking concrete steps towards their net-zero emissions.
• Planted over 118,000 indigenous plants over an area of 106 hectares at Kisladag (Turkiye),
including complete reclamation of the South Waste Rock Dump, and thousands more for local
villages, proudly contributing to revegetation and reforestation of the surrounding region.
Responsibly Produced Products
The metals we produce are essential in today’s world. They contribute to and store value for economies,
societies and governments and are an integral part of modern financial systems.
• Received external verification of the implementation of the MAC-TSM standard at both Kisladag
and Efemcukuru (Turkiye).
o Efemcukuru received:
▪ Level AAA performance across all indicators in: Tailings, Health & Safety,
Biodiversity Conservation Management and Indigenous and Community
Relations; and
▪ A, AA or AAA scores across all other applicable indicators.
o Kisladag received:
▪ Level AAA performance across all indicators in: Health & Safety; and
▪ A, AA or AAA scores across all other applicable indicators.
• Received assurance of full conformance with the World Gold Council Responsible Gold Mining
Principles requirements.
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Feedback
Eldorado Gold welcomes feedback from all stakeholders and communities regarding the Company’s
sustainability reporting. Please direct comments or requests for further information to Investor Relations.
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: EL D) and the New
York Stock Exchange (NYSE: EGO).
Contact
Investor Relations
Lynette Gould, VP, Investor Relations, Communications and 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 securities
laws. Often, these forward -looking statements and forward -looking information can be identified by the u se of words such as
“advance”, “aim”, “anticipates”, “become”, “believes”, “budget”, “committed”, “continue”, “estimates”, “expects”, “exploring” , “focus”,
“forecasts”, “foresee”, “forward”, “future”, “goal”, “guidance”, “intends”, “objective”, “opportunit y”, “outlook”, “plans”, “potential”,
“priority”, “project”, “prospective”, “scheduled”, “seek”, “strategy”, “strive”, “target”, “underway”, “vision”, “working” or the negatives
thereof or variations of such words and phrases or statements that certain acti ons, events or results “can”, “continuously”, “could”,
“likely”, “may”, “might”, “periodically”, “regularly”, “will” or “would” be taken, occur or be achieved.
Forward-looking information includes, but is not limited to, statements or information with respect to: sustainability commitments, both
generally in the pillars of our Sustainability Framework and in specific initiatives developed within each pillar; our beliefs with respect
to our impact; our commitment to continually improving; our intentions towards best practices and industry standards; our ong oing
efforts towards our climate change strategy ; and generally our strategy, plans and goals. 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: t iming, cost and results of our
construction and development activities, improvements and exploration; the future price of gold and other commodities; excha nge
rates; anticipated values, costs, expenses and working capital requirements; ; our ability to ad dress the negative impacts of climate
change and adverse weather; and the geopolitical, economic, permitting and legal climate that we operate in. 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 press 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: development risks at Skouries and other development projects;
risks relating to our operations in foreign jurisdictions; risks related to production and processing; 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
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equipment; our reliance on infrastructure, commodities and consumables; inflation risk; community relations and social licens e;
environmental matters; geotechnical and hydrogeological conditions or failures; 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; regulatory reviews and different standards used to prepare and report Mineral Reserve s
and Mineral Resources; risks relating to any pandemic, epidemic, endemic, or similar public health threats; regulated substan ces;
acquisitions, including integration risks; dispositions; co -ownership of our properties; investment portfolio; volatility, vol ume
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 op erating 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 p rice of gold and the Company’s
profitability); currency risk; interest rate risk; credit risk; tax matters; financial reporting (including relating to the c arrying value of our
assets and changes in reporting standards); the global economic environment; la bour (including in relation to employee/union
relations, the Greek transformation, employee misconduct, key personnel, skilled workforce, 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 governan ce practices and performance; corruption, bribery, and sanctions; employee
misconduct; litigation and contracts; conflicts of interest; compliance with privacy legislation; dividends; tariffs and other trade barriers,
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, MD&A & Form 40-F filed on SEDAR+ and EDGAR under our Company name,
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 a nticipated
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 fi led with the
securities regulatory authorities in Canada and the United States.