EURO RESSOURCES REPORTS EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2016

Paris, France, February 28, 2017:  EURO Ressources S.A. ("EURO" or "the Company") (Paris: EUR) today announced its audited statutory financial results prepared in accordance with French Generally Accepted Accounting Principles ("GAAP") and its audited financial results prepared in accordance with International Financial Reporting Standards ("IFRS") for the year ended December 31, 2016.  These audited financial results were approved by the Board of Directors on February 28, 2017.  All financial amounts are expressed in Euros ("€" or "euros") unless otherwise specified.

Under French GAAP, EURO reported a net profit of €16.0 million (€0.256 per share) for the year ended December 31, 2016, compared to €14.1 million (€0.225 per share) for the year ended December 31, 2015.

Under IFRS, EURO reported a net profit of €15.9 million (€0.255 per share) for the year ended December 31, 2016, compared to €12.5 million (€0.201 per share) in 2015. 

Highlights for 2016

EURO recorded revenues of €26.1 million in 2016, an increase of 14% compared to €22.8 million in 2015. 

EURO distributed a dividend in the amount of €12.5 million (€0.20 per share) in June 2016.

Liquidity and capital resources

Cash at December 31, 2016 totaled €11.1 million as compared to €7.5 million at December 31, 2015.  The increase is mainly due to higher cash flow from operating activities partially offset by a dividend paid in 2016.

Comments on financial results for the year ended December 31, 2016 from the French "Rapport de Gestion" (equivalent of Management's Discussion and Analysis)

Under French GAAP, EURO recorded revenues of €26.1 million in 2016, an increase of 14% compared to revenues of €22.8 million during 2015.  Revenues are mainly attributable to the Rosebel royalty for €25.7 million in 2016 (2015: €22.4 million).  The increase in revenues is due to a higher average gold price of US$1,249 per ounce in 2016 compared to US$1,162 per ounce in 2015 (€2.6 million), a higher gold production with 311,808 ounces in 2016 compared to 301,813 ounces during 2015 (€0.6 million), and a weaker euro (€0.1 million).

Operating expenses (excluding amortization and depreciation expenses) totaling €0.76 million in 2016 compared to €1.2 million in 2015.  The decrease is mainly due to lower administrative costs, directors' fees and legal fees during 2016.

The amortization expense for €0.585 million in 2016 was higher than the amortization expense of €0.454 million in 2015 mainly due to lower gold reserves at the Rosebel mine.