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      Eldorado Acquires Units Of Brazauro
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VANCOUVER,BC - Eldorado Gold Corporation ("Eldorado") is pleased to
announce that effective July 24, 2008 it has purchased 8,800,000 units
(the "Units") of Brazauro Resources Corporation ("Brazauro"), which
Units each comprised one common share (a "Unit Share") of Brazauro and
one half of a whole warrant (a "Warrant") of Brazauro, at a price of
$0.95 per Unit, for a total of $8.36 million. Each Warrant will entitle
Eldorado to acquire one common share of Brazauro at an exercise price
of $1.30 per common share of Brazauro for a period of 18 months
following the date of the completion of the acquisition of the Units.
The 8,800,000 Unit Shares acquired represent approximately 10.32% of
Brazauro's issued and outstanding common shares (as at July 24, 2008).

After completion of the acquisition of the Units, Eldorado will own
10,304,000 common shares representing 12.09% of Brazauro's issued and
outstanding common shares (as at July 24, 2008).  If Eldorado exercises
all of the Warrants, it will own 14,704,000 common shares of Brazauro,
representing approximately 16.4% of Brazauro's issued and outstanding
common shares (as at July 24, 2008).  

The securities were acquired pursuant to a private placement under the
terms of an Option Agreement (the "Option Agreement") dated July 8,
2008 between Eldorado, Brazauro, and two affiliates of Brazauro, Jaguar
Resources Do Brazil LTDA (now named Brazauro Recursos Minerais Ltda.
("Jaguar") and Minercao Cachambix Ltda ("Minercao").  The acquisition
of the Units was a condition precedent to the earn-in option that
Brazauro has granted to Eldorado under the Option Agreement to acquire
up to a 75% interest in certain of Brazauro's properties, including the
Tocantinzinho Project in Para State, Brazil, through the exercise of
three separate options.

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.
The Units were issued to Eldorado pursuant to the accredited investor
exemption in section 2.3 of National Instrument 45-106 to purchase the
securities.

Eldorado's early warning report is available on the SEDAR website
(www.sedar.com) under the Company's name.

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 & 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  
Request for information packages:  

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

View News Release in PDF Format:
http://www.eldoradogold.com/i/pdf/08-20.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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