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Re: 2008 - Monday, June 02, 2008
Eldorado Gold Commences Efem�ukuru Construction
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VANCOUVER, BC -- Paul N. Wright, President and Chief Executive Officer
of Eldorado Gold Corporation ("Eldorado", the "Company", or "we") is
pleased to announce that the Company is in receipt of all permits and
approvals necessary to construct its Efem�ukuru mine ("Efem�ukuru" or
the "mine") in Turkey.
Site preparation activities are now underway with work initially
focused on providing upgraded access to the site and the necessary site
clearing.
The Company has received notice that the Fourth Administrative Court in
Izmir has ruled in favour of the Environmental Positive Opinion issued
by the Ministry of Environment and Forestry for the Project.
The 2008 Exploration Programme has commenced on site with the
initiation of surface exploration work aimed at identifying new targets
outside of the presently defined resource. Crews have been conducting
soil sampling over an extended grid and preparations are being made for
a detailed magnetic survey. Initial soil sampling has identified
extensions to anomalies at the north end of the system and we will be
following up with detailed mapping and sampling to better understand
the significance of the extensions.
"We are excited to have commenced construction activities on our second
mine in Turkey and are particularly pleased with the recent court
decision confirming the integrity of the Efem�ukuru Environmental
Impact Assessment", commented Paul N. Wright, President and Chief
Executive Officer.
Eldorado is a gold producing and exploration company actively growing
businesses in Brazil, Turkey, China and surrounding regions. With our
international expertise in mining, finance and project development,
together with highly skilled and dedicated staff, we believe that
Eldorado is well positioned to grow in value as we create and pursue
new opportunities.
ON BEHALF OF
ELDORADO GOLD CORPORATION
"Paul N. Wright"
Paul N. Wright
President and Chief Executive Officer
Certain of the statements made herein may contain forward-looking
statements or information within the meaning of the United States
Private Securities Litigation Reform Act of 1995, and forward looking
statements or information within the meaning of the Securities Act
(Ontario) . Such forward looking statements or information include,
but are not limited to statements or information with respect to
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements or information
are subject to a variety of risks and uncertainties, which could cause
actual events, or results to differ from those reflected in the
forward-looking statements or information. Should one or more of these
risks and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
described in forward looking statements. Specific reference is made to
"Forward Looking Statements and Risk Factors" in the Company's Annual
Information Form and Form 40-F dated March 31, 2008. Forward-looking
statements herein include statements regarding the expectations and
beliefs of management. Such factors included, amongst others the
following: gold price volatility; impact of any hedging activities,
including margin limits and margin calls; discrepancies between actual
and estimated production, between actual and estimated reserves, and
between actual and estimated metallurgical recoveries; mining
operational risk; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign investment;
speculative nature of gold exploration; dilution; competition; loss of
key employees; additional funding requirements; and defective title to
mineral claims or property, as well as those factors discussed in the
section entitled "Risk Factors" in the Company's Annual Information
Form and Form 40-F dated March 31, 2008. We do not expect to update
forward-looking statements 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.
Eldorado Corporation shares trade on the Toronto Stock Exchange (TSX:
ELD) and the American Stock Exchange (AMEX: EGO). The TSX has neither
approved nor disapproved the form or content of this release.
Contact:
Nancy E. Woo, Manager Investor Relations
Phone: 604.601.6650 or 1.888.353.8166
Fax: 604.687.4026
Eldorado Gold Corporation
1188, 550 Burrard Street
Vancouver, BC V6C 2B5
Web site: www.Eldoradogold.com
Email: nancyw@Eldoradogold.com
Request for information packages: laurelw@eldoradogold.com
View News Release in PDF Format:
Associated File:
http://www.eldoradogold.com/i/pdf/08-11.pdf
22 KB in size, approx. 5 seconds to download at 56.6Kbps
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Copyright (c) 2008 ELDORADO GOLD CORP. (ELD) All rights reserved. For
more information visit our website at http://www.eldoradogold.com/ or
send mailto:info@eldoradogold.com
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