Eldorado Gold Provides Update on Lamaque Operations and Expansion Permit Approval

VANCOUVER, British Columbia, March 24, 2020 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation, (“Eldorado” or “the Company”) reports that, in accordance with the Quebec provincial government-mandated restrictions to address the COVID-19 situation in the province announced on March 23, 2020, it will temporarily minimize operations at its Lamaque mine until April 13, 2020.  The Company also reports that it has today received a Certificate of Authorization from the Quebec Ministry of Environment to allow for the expansion of underground production from the Triangle deposit at Lamaque from 1,800 tonnes per day (“tpd”) to 2,650 tpd, once operations resume.

Effective March 25, 2020, Eldorado will ramp down operational activity and maintain only essential personnel on site responsible for maintaining appropriate health, safety, security and environmental systems. The Company remains committed to resuming operations in a timely manner once the suspension is lifted.

George Burns, President and CEO, said: “Our focus and number one priority is our people and supporting local families and communities.  While we are temporarily suspending operations at Lamaque, we continue to run our global operations at modestly reduced manpower levels at this time.  This is a result of us putting people first and taking proactive steps to mitigate potential risk to our workforce and mandating work from home where possible.  We remain focused on ensuring that these temporary disruptions to our business do not impact long-term value.  Inventories of key suppliers, trade routes and delivery times have been reviewed and remain unaffected at this time.  Today’s receipt of the expansion permit at Lamaque will create jobs and increase value for local communities, Quebec and our shareholders once the temporary suspension is lifted and we are safe to return to normal operations.”

The Company continues to monitor the operating environment closely in the jurisdictions where it operates.  Eldorado has implemented additional controls at all its operations and offices around the globe to further protect the health and safety of its workforce, their families and neighboring communities, which include:

• Restricting site access and conducting employee screening measures, such as thermometric testing;
• Putting social-distancing protocols in place and encouraging increased hand-washing;
• Educating workforce and local communities about symptoms and transmission of the virus with clear instructions to stay home if one feels unwell;
• Halting all non-essential travel; and
• Liaising with governments, regulators and other external stakeholders to closely monitor developments.

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