Re: News Release - Monday, July 27, 2009
Title: Eldorado Closes Acquisition Of Stake In
Sino Gold
Eldorado
Gold Corporation ("Eldorado" or "Company") is
pleased to announce the closing of its acquisition of 57,968,029 shares (the
"Sino Gold Shares") in the capital of Sino Gold Mining Limited
("Sino Gold"), pursuant to a Share Purchase and Sale Agreement
(the "Share Purchase Agreement") dated June 3, 2009, as
amended on July 10, 2009, with Gold Fields Australasia (BVI) Limited ("Gold
Fields").
Following completion of the transaction, Eldorado holds directly 57,968,029
Sino Gold Shares, which represent 19.83% of the issued and outstanding shares
of Sino Gold. Eldorado acquired the Sino Gold Shares for investment purposes
and may acquire further shares of Sino Gold or dispose of some or all of its
shares of Sino Gold as conditions warrant.
Under the terms of the Share Purchase Agreement, Gold Fields acquired
27,824,654 common shares of Eldorado as consideration for the Sino Gold Shares.
These Eldorado common shares were qualified by a prospectus (the
"Prospectus") dated July 20, 2009, filed in Ontario and British
Columbia, and are not subject any statutory hold period. The Prospectus also
qualified the Top-up Adjustment Right (as defined in the Prospectus). For
further information see the Prospectus.
Sino Gold is an Australian public company focused on the exploration and
production of gold in China and is listed on the Australian Securities Exchange
and Hong Kong Stock Exchange. It has two operating mines, Jinfeng and White
Mountain.
Eldorado is a gold producing, exploration and development company actively
growing businesses in Brazil, China, Greece, and Turkey and surrounding
regions. We are one of the lowest cost pure gold producers. 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
For additional information or for a copy of Eldorados early warning report,
please contact:
Nancy Woo, Vice President Investor Relations, at 604 601-6650 or e-mail nancyw@eldoradogold.com
Eldorado Gold Corporation
1188 - 550 Burrard Street
Vancouver, BC V6C 2B5
Eldorado Gold Corporations common shares trade on the Toronto Stock Exchange
(TSX: ELD) and the NYSE-Amex US (NYSE-A: EGO).
Contact:
Nancy Woo, VP Investor Relations
Eldorado Gold Corporation
Phone: 604.601.6650 or 1.888.353.8166
Fax: 604.687.4026
1188, 550 Burrard Street
Vancouver, B.C. V6C 2B5
Website: www.eldoradogold.com
Email: nancyw@eldoradogold.com
Request for information packages: laurelw@eldoradogold.com
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Copyright �
2009 ELDORADO GOLD CORP. (ELD) All rights reserved. For more information visit
our website at http://www.eldoradogold.com/ or send email to info@eldoradogold.com ..
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