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      Eldorado Increases Stake In Frontier To Over 95%
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VANCOUVER, BC -- Paul N. Wright, President and Chief Executive Officer
of Eldorado Gold Corporation ("Eldorado" or "we") announced today that
Eldorado has taken up and accepted for payment an additional 4.9
million common shares of Frontier Pacific Mining Corporation
("Frontier") that were tendered since July 2, 2008 to its offer to
purchase all of the outstanding common shares of Frontier (the
"Offer").  The Offer expired as of 5:00 pm (Toronto time) on July 15,
2008.

Together with the 162.2 million common shares of Frontier taken up by
Eldorado on July 3, 2008 and the 4,871,300 held by Eldorado prior to
its making the Offer, Eldorado will own approximately 167.2 million
common shares of Frontier, representing over 95% of Frontier's
outstanding common shares.

Since the Offer has been accepted by holders of more than 90% of the
Frontier common shares, Eldorado intends to exercise its right to
acquire the remaining approximately 8.8 million outstanding common
shares of Frontier (the "Remaining Shares")  pursuant to a compulsory
acquisition under the British Columbia Business Corporations Act (the
"Business Corporations Act"), as described in the Offer.  Pursuant to
Section 300 of the Business Corporations Act, Eldorado has mailed to
the holders of the Remaining Shares, and has filed with applicable
securities regulatory authorities, a Notice of Compulsory Acquisition
dated July 15, 2008.  Eldorado expects to complete the compulsory
acquisition within the next 90 days.

Eldorado's financial adviser is Macquarie Capital Markets Canada Ltd.
Its legal advisors are Borden Ladner Gervais LLP in Canada and Dorsey &
Whitney LLP in the United States.

Eldorado has filed with the U.S. Securities and Exchange Commission
("SEC") a Registration Statement, which includes the offer and
take-over bid circular, notice of variation and extension, notice of
change in information, a previous notice of variation and extension and
a notice of compulsory acquisition relating to its offer to Frontier
shareholders. ELDORADO URGES INVESTORS AND SECURITY HOLDERS TO READ THE
REGISTRATION STATEMENT, THE OFFER AND TAKE OVER BID CIRCULAR AND ANY
OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC AND CANADIAN
SECURITIES REGULATORY AUTHORITIES, BECAUSE THEY CONTAIN IMPORTANT
INFORMATION. Investors may obtain a free copy of the offer and
take-over bid circular and other documents filed by Eldorado with the
Canadian securities regulators at www.sedar.com and with the SEC at the
SEC's website at www.sec.gov. The offer and take-over bid circular and
other documents may also be obtained for free, from Eldorado's website
or by directing a request to Eldorado's investor relations department
by telephone at 1-888-353-8166, fax 604-687-4026 or e-mail
info@eldoradogold.com or by contacting the Information Agent, Kingsdale
Shareholder Services Inc., toll free at 1-866-581-1513.

About Eldorado
Eldorado is a gold producing, exploration and development company
actively growing businesses in Brazil, Turkey, China, Greece and the
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 Frontier or Eldorado, 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 Eldorado's Annual
Information Form and Form 40 F dated March 31, 2008. Such factors
include, 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 Eldorado'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 Eldorado's
business contained in Eldorado's reports filed with the securities
regulatory authorities in Canada and the U.S.

Eldorado Gold Corporation common 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
Email nancyw@eldoradogold.com
Request for information packages: laurelw@eldoradogold.com

Eldorado Gold Corporation
1188, 550 Burrard Street
Vancouver, BC V6C 2B5
Web site: www.eldoradogold.com

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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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