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Eldorado Gold Corp
Symbol C : ELD
Shares Issued 794,010,680
Close 2017-09-12 C$ 2.41
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Eldorado Gold receives two permits in Greece

2017-09-13 11:22 ET - News Release

Mr. George Burns reports


Eldorado Gold Corp. has received the Olympias operating permit and the modified electromechanical installation permit for the tailings management facility at Kokkinolakkas from the Ministry of Energy and Environment. The Olympias operating permit is valid for a period of three years from the date of issue.

At this time, remaining outstanding is:

  • Approval of the technical study for the old Olympias mine closure and the installation permits for the paste plants at Olympias;
  • The amended electromechanical installation permit for the Skouries flotation plant;
  • As well as other matters including, but not limited to, the relocation of antiquities at the Skouries site.

The company is also awaiting additional detail from the Greek government regarding the pending arbitration process, which the government has publicly indicated that formal notification will be issued on Sept. 15, 2017. Eldorado is confident that any potential arbitration will again demonstrate the company's adherence to all applicable laws and regulations.

Upon approval and receipt of all the required permits, clarity around the arbitration process and a supportive government open to discussions surrounding the use and implementation of best available technologies, the company will then be in a position to reassess its investment options in Greece.

George Burns, president and chief executive officer for Eldorado Gold, said: "This is a positive step forward; however, we are still waiting on other permits. Open dialogue with the government would be the company's preference rather than legal recourse and arbitration but we are confident that any potential arbitration will again demonstrate Eldorado's adherence to all applicable laws and regulations and its commitment to developing its Greek assets safely, responsibly and with utmost care for the environment."

About Eldorado Gold Corp.

Eldorado is a leading intermediate gold producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia, Canada and Brazil.

We seek Safe Harbor.

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