Eldorado Gold Provides Update on Tax Impacts in Turkiye Related to the Weakening Lira; and Provides Conference Call Details

VANCOUVER, British Columbia, July 07, 2023 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado” or the “Company”) today provides the following updates on the tax impacts in Turkiye related to the weakening of the Turkish Lira.

Tax Impacts in Turkiye Related to the Weakening Turkish Lira

The Company’s profits from mining operations in Turkiye are taxed at an enacted rate of 20% and the resulting current income tax expense may be increased or reduced by other items. In the second quarter, the Company expects the Turkish current income tax expense on mining profits to be higher by $5.5 to $6.5 million. This increase is expected to be primarily related to the weakening of the Lira in the quarter and the resulting generation of taxable unrealized foreign exchange gains, partly offset by reductions related to the investment tax credit relating to Kisladag and Efemcukuru.

Q2 2023 Financial and Operational Results Call Details

Eldorado will release its 2023 Second Quarter Financial and Operational Results after the market closes on Thursday, July 27, 2023, and will host a conference call on Friday, July 28, 2023, at 11:30 AM ET (8:30 AM PT).

Conference Call Details		Replay (available until September 1, 2023)
Date:	July 28, 2023	Vancouver:	[phone]
Time:	11:30 AM ET (8:30 AM PT)	Toll Free:	1 800 319 6413
Dial in:	[phone]	Access code:	0279
Toll free:	1 800 319 4610

The call will be webcast and can be accessed at Eldorado Gold’s website: www.eldoradogold.com, or via: https://services.choruscall.ca/links/eldoradogold2023q2.html

About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkiye, Canada and Greece. The Company has a highly skilled and dedicated workforce, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (TSX: ELD) and the New York Stock Exchange (NYSE: EGO).