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Re: 2008 - Tuesday, August 05, 2008
Eldorado Acquires Shares of Brazauro
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VANCOUVER, BC -- Eldorado Gold Corporation announced the purchase of
an additional 2,000,000 shares of Brazauro Resources Corporation
("Brazauro") (representing approximately 2.3% of Brazauro's issued and
outstanding common shares at July 31, 2008) in several market
transactions on the TSX Venture Exchange at a price per share of $0.42.
After completion of the purchase of the shares, Eldorado will own
12,304,000 common shares representing 14.4% of Brazauro's issued and
outstanding common shares (as at July 31, 2008). In addition, Eldorado
owns 4,400,000 Warrants. If Eldorado exercises all of the Warrants, it
will own 16,704,000 common shares of Brazauro, representing
approximately 18.6% of Brazauro's issued and outstanding common shares
(inclusive of the shares issued upon the exercise of the warrants and
assuming no additional shares have been issued by Brazauro).
Eldorado acquired the securities for investment purposes and may
acquire further common shares or dispose of its holdings of commons
shares both as investment conditions warrant.
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.
For a copy of the early warning report, please contact Nancy Woo,
Manager Investor Relations at (604) 601-6650.
ON BEHALF OF
ELDORADO GOLD CORPORATION
"Paul N. Wright"
Paul N. Wright
President & 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; risks from litigation; 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 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
Eldorado Gold Corporation
1188, 550 Burrard Street
Vancouver, BC V6C 2B5
Web site: www.eldoradogold.com
Request for information packages: laurelw@eldoradogold.com
View News Release in PDF Format:
http://www.eldoradogold.com/i/pdf/2008-08-05_NR.pdf
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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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