EURO Ressources REPORTS EARNINGS FOR THE YEAR ENDED DECEMBER 31, 2017

Paris, France, February 23, 2018:  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, 2017.  These audited financial results were approved by the Board of Directors on February 23, 2018.  All financial amounts are expressed in Euros ("€" or "euros") unless otherwise specified.

Under French GAAP, EURO reported a net profit of €15.9 million (€0.255 per share) for the year ended December 31, 2017, compared to €16.0 million (€0.256 per share) for the year ended December 31, 2016.

Under IFRS, EURO reported a net profit of €18.7 million (€0.299 per share) for the year ended December 31, 2017, compared to €15.9 million (€0.255 per share) in 2016. 

Highlights for 2017

EURO recorded revenues of €26.1 million in 2017 similar to revenues reported in 2016. 

EURO distributed a dividend in the amount of €9.4 million (€0.15 per share) in June 2017.

Liquidity and capital resources

Cash at December 31, 2017 totaled €15.5 million as compared to €11.1 million at December 31, 2016.  The increase was mainly due to cash flow from operating activities partially offset by a dividend paid in 2017.

Comments on financial results prepared in accordance with French GAAP for the year ended December 31, 2017

EURO recorded revenues of €26.1 million in 2017 similar to revenues reported in 2016. Revenues were mainly attributable to the Rosebel royalty for €25.7 million in 2017 (2016: €25.7 million).  Revenues were similar but included the impact of a higher average gold price of US$1,258 per ounce in 2017 compared to US$1,249 per ounce in 2016 (€0.3 million), and higher gold production with 318,117 ounces in 2017 compared to 311,808 ounces during 2016 (€0.2 million), offset by the negative impact of a stronger euro (€0.5 million).

Under French GAAP, operating expenses (excluding amortization and depreciation expenses) totaled €1.08 million in 2017 compared to €0.76 million in 2016.  The increase was mainly due to higher administrative costs in 2017 following the accounting of a credit adjustment in 2016, and higher legal fees during 2017 mainly related to the claim of prior years' tax on dividends.