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Re:   News - Thursday, July 03, 2008
      Eldorado's Bid for Frontier Successful
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News Release ELD No. 08-17

VANCOUVER, BC - Paul N. Wright, President and Chief Executive Officer
of Eldorado Gold Corporation ("Eldorado" or "we") announced that as of
2:00 pm (Vancouver time) on July 2, 2008, approximately 157.3 million
common shares of Frontier Pacific Mining Corporation ("Frontier") had
been validly deposited to Eldorado's offer to purchase all of the
outstanding common shares of Frontier (the "Offer").

Eldorado will give notice to the depositary to take-up and accept for
payment all of the Frontier common shares deposited pursuant to the
Offer.  Eldorado will pay for such shares on or before July 7, 2008.
Together with the 4,871,300 common shares of Frontier held by Eldorado
prior to today's take up, Eldorado will own approximately 162.2 million
common shares of Frontier, representing over 93% 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 12.1 million outstanding common
shares of Frontier pursuant to a compulsory acquisition under the
British Columbia Business Corporations Act, as described in the Offer.
Eldorado expects to complete the compulsory acquisition within the next
90 days.

In order to enable the remaining Frontier shareholders to receive
prompt payment of the same consideration paid to those Frontier
shareholders who have already tendered, Eldorado's Offer has been
extended until 5:00 pm (Toronto time) on July 15, 2008.  A Notice of
Variation and Extension will be filed with applicable securities
regulatory authorities and mailed to Frontier's shareholders.

The price of Eldorado's Offer is 0.1220 Eldorado common shares, Cdn.
$0.0001 in cash and one exchange receipt for each common share of
Frontier.  Subject to the terms of an exchange receipt indenture, each
exchange receipt entitles its holder to receive an additional 0.008
Eldorado common shares if, prior to July 1, 2009, a Joint Ministerial
Resolution is issued in Greece by the Joint Ministerial Council
accepting the Environmental Terms of Reference drafted by the Ministry
of Environment in respect of Frontier's Perama Hill project.

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.

How to Tender

Frontier shareholders wishing to accept the Eldorado Offer are
encouraged to tender their shares by completing the letter of
transmittal accompanying the documents mailed to them and returning it
together with certificates representing their Frontier shares and all
other documents to the offices of Kingsdale Shareholder Services Inc.
in Toronto, Ontario in accordance with the instructions in the letter
of transmittal.  If Frontier shares are held by a broker or other
financial intermediary, Frontier shareholders should contact such
intermediary and instruct it to tender their Frontier shares.

This press release does not constitute an offer to buy or an invitation
to sell, or the solicitation of an offer to buy or invitation to sell,
any of the securities of Eldorado or Frontier. Such an offer may only
be made pursuant to an offer and take-over bid circular filed with the
securities regulatory authorities in Canada.

Eldorado will file the Notice of Variation and Extension with the U.S.
Securities and Exchange Commission ("SEC") upon filing with the
securities regulatory authorities in Canada.  Eldorado has also filed
with the SEC a Registration Statement, which includes the offer and
take-over bid circular, prospectus, notice of change in information and
a previous notice of variation and extension 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 & 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:
Earl W. Price, Chief Financial Officer
Phone: 604.601.6661 or 1.888.353.8166
Fax:  604.687.4026
Email: earlp@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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