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Skouries Technical Study approved, Construction to recommence

Gold-Copper Mining Project

Skouries Technical Study approved, Construction to recommence

Eldorado Gold Corporation confirmed that Hellas Gold S.A., a Greek subsidiary of Eldorado, has received from Greece's Ministry of Energy and Environment the approval of the updated Technical Study for the Skouries Project in Halkidiki, Northern Greece. The approval of the Technical Study enables Hellas Gold to recommence construction activities at the Skouries Project site, which were suspended in January 2016.
(ed. WoMaMarcel - 24/5/2016)
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The approval of the Technical Study enables Hellas Gold to recommence construction activities at the Skouries Project site, which were suspended in January 2016.

Vancouver (BC), Canada – Paul Wright, President and Chief Executive Officer of Eldorado, commented:  "We are all very pleased with the receipt of this approval and greatly encouraged by the ongoing interaction between Hellas Gold and the Ministry and its technical services. This constructive engagement has contributed to other recent approvals including the Skouries Building Permit (February 2016), and the Olympias Installation Permit (March 2016). I believe there now exists a greatly improved shared understanding, appreciation and alignment between the Company and the Ministry in regards to the substantial benefits to be gained by the Greek society and economy through the collaborative responsible development of mineral resources in Greece."

Skouries is a high-grade gold-copper porphyry deposit located in the Halkidiki Peninsula in northern Greece. It will operate as an open pit mine for about seven years, followed by approx. 20 years of underground development. The open pit mining method will consist of drilling, blasting, loading and hauling of ore and waste materials for processing and waste disposal. The primary mining equipment fleet will consist of conventional diesel powered open pit mining equipment. The underground mine will consist of the orebody below the base of the open pit at 420 m level (240 m below surface), followed by a SLOS (Sub Level Open Stoping) mining method commencing below the 30 m crown pillar down to the -105 masl level. The deposit will be accessed from surface by a service decline (ramp) and a production shaft.

The process plant is of conventional design comprising surface ore reception facilities and primary crusher, coarse ore stockpile, SAG and ball mill grinding, gold gravity circuit, rougher, cleaning and scavenger flotation stages, filtration and paste thickening of the tailings for disposal.

Skouries is a high-grade gold-copper porphyry deposit located in the Halkidiki Peninsula in northern Greece.

It will operate as an open pit mine for about seven years, followed by approximately 20 years of underground development.

- See more at: http://www.eldoradogold.com/assets/operations-and-projects/europe/projec...

Paul Wright, President and Chief Executive Officer of Eldorado, commented:  "We are all very pleased with the receipt of this approval and greatly encouraged by the ongoing interaction between Hellas Gold and the Ministry and its technical services. This constructive engagement has contributed to other recent approvals including the Skouries Building Permit (February 2016), and the Olympias Installation Permit (March 2016). I believe there now exists a greatly improved shared understanding, appreciation and alignment between the Company and the Ministry in regards to the substantial benefits to be gained by the Greek society and economy through the collaborative responsible development of mineral resources in Greece. - See more at: http://www.eldoradogold.com/news-and-media/news-releases/press-release-d...
Paul Wright, President and Chief Executive Officer of Eldorado, commented:  "We are all very pleased with the receipt of this approval and greatly encouraged by the ongoing interaction between Hellas Gold and the Ministry and its technical services. This constructive engagement has contributed to other recent approvals including the Skouries Building Permit (February 2016), and the Olympias Installation Permit (March 2016). I believe there now exists a greatly improved shared understanding, appreciation and alignment between the Company and the Ministry in regards to the substantial benefits to be gained by the Greek society and economy through the collaborative responsible development of mineral resources in Greece. - See more at: http://www.eldoradogold.com/news-and-media/news-releases/press-release-d...
Paul Wright, President and Chief Executive Officer of Eldorado, commented:  "We are all very pleased with the receipt of this approval and greatly encouraged by the ongoing interaction between Hellas Gold and the Ministry and its technical services. This constructive engagement has contributed to other recent approvals including the Skouries Building Permit (February 2016), and the Olympias Installation Permit (March 2016). I believe there now exists a greatly improved shared understanding, appreciation and alignment between the Company and the Ministry in regards to the substantial benefits to be gained by the Greek society and economy through the collaborative responsible development of mineral resources in Greece. - See more at: http://www.eldoradogold.com/news-and-media/news-releases/press-release-d...

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