VANCOUVER, British Columbia,
September 21, 2017 /PRNewswire/
--
TSX: ELD NYSE:
EGO
Eldorado Gold Corporation
("Eldorado", "the Company" or
"we") today announced that it has entered into constructive
dialogue with Greece's Ministry of
Energy and Environment ("MoE") in respect to the development of the
Company's subsidiary, Hellas Gold
S.A.'s, Kassandra Mine assets in Halkidiki, Northern Greece. The Kassandra assets, which
include the Skouries and Olympias projects and the Stratoni mine,
were permitted under one single Environment Impact Study ("EIS")
approved in 2011 by the Greek State.
George Burns, President and Chief
Executive Officer of Eldorado,
commented: "We are very pleased with the constructive dialogue that
is underway with the Ministry of Energy and Environment.
Furthermore, last week the Ministry issued a number of long overdue
routine permits for our Olympias project. As a result of these
developments we have decided to temporarily postpone our decision
to place our assets in Halkidiki on care and maintenance."
Mr. Burns concluded: "We preserve the right to place our assets
on care and maintenance and to take prompt legal action to protect
the Company and its assets in Greece should our dialogue with the Ministry
of Energy and Environment prove unsuccessful. At the same time, we
remain confident that the arbitration process initiated last week
by the Greek government will be concluded in a timely and efficient
manner, for the benefit of all stakeholders."
About Eldorado Gold
Eldorado is a leading mid-tier
gold producer with mining, development and exploration operations
in Turkey, Greece, Romania, Serbia, Canada and Brazil. The Company's success to date is based
on a highly skilled and dedicated workforce, safe and responsible
operations, a portfolio of high-quality assets, and long-term
partnerships with the communities where it operates. Eldorado's common shares trade on the Toronto
Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE:
EGO).
Forward Looking Statement
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,
but not always, 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", "projected", "intends",
"anticipates", or "believes" or the negatives thereof or variations
of such words and phrases or statements that certain actions,
events or results "to be", "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Such forward-looking
statements or information include, but are not limited to,
statements or information with respect to this news
release.
Forward-looking statements and forward-looking information by
their nature are based on assumptions and involve known and unknown
risks, 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;
exchange rates; anticipated costs and expenses; production, mineral
reserves and resources and metallurgical recoveries, the impact of
acquisitions, dispositions, suspensions or delays on our business
and the ability to achieve our goals.
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, the
following: geopolitical and economic climate (global and local),
risks related to mineral tenure and permits; gold and other metal
price volatility; mining operational and development risk; foreign
country operational risks; risks of sovereign investment;
regulatory environment and restrictions, including environmental
regulatory restrictions and liability; discrepancies between actual
and estimated production, mineral reserves and resources and
metallurgical recoveries; risks related to impact of the sale of
our Chinese assets on the Company's operations; risks related to
the acquisition of Integra Gold Corporation; additional funding
requirements; currency fluctuations; litigation risks; community
and non-governmental organization actions; speculative nature of
gold exploration; dilution; share price volatility; competition;
loss of key employees; and defective title to mineral claims or
property, as well as those factors discussed in the sections
entitled "Forward-Looking Statements" and "Risk factors in our
business" in the Company's most recent Annual Information Form and
Form 40-F. The reader is directed to carefully review the detailed
risk discussion in our most recent Annual Information Form filed on
SEDAR under our Company name, for a fuller understanding of the
risks and uncertainties that affect the Company's business and
operations.
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.
Investor Relations:
Krista Muhr
Vice President Investor Relations and Corporate Communications
+1-604-601-6701
+1-888-363-8166
kristam@eldoradogold.com
Media:
Louise Burgess
Director Communications and Government Relations
+1-604-616-2296
louiseb@eldoradogold.com