Eldorado Gold Announces First Concentrate Produced at McIlvenna Bay

Key Milestone Ahead of Q3-2026 Commercial Production

Copper Concentrate Production Strengthens Eldorado's Growth Profile
(All dollar figures are in US dollars, unless otherwise stated)

VANCOUVER, British Columbia, June 08, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) is pleased to announce that first copper concentrate has been produced at the Company’s 100%-owned McIlvenna Bay Project in east-central Saskatchewan, Canada. This milestone represents a significant addition to Eldorado's already diversified portfolio and further strengthens the Company's Canadian operating platform.

Wet commissioning of the McIlvenna Bay processing plant was completed recently, and following the commencement of hot commissioning, first copper concentrates were produced on June 7, 2026. The operating team is now focused on ramp-up toward the nameplate capacity of 4,900 tonnes per day. Key activities during the ramp-up period include optimizing the flotation circuit and reagent addition performance, and completing the paste plant and associated underground infrastructure, such as the paste plant reticulation to support ongoing mine and plant production ramp-up. The Company expects to achieve commercial production at McIlvenna Bay in Q3 2026.

“Achieving first concentrate at McIlvenna Bay is a significant milestone, not just for Eldorado but for Canadian mining,” said George Burns, Chief Executive Officer. “This project is a compelling example of Canada's ability to advance critical mineral assets responsibly and with conviction. McIlvenna Bay diversifies our revenue base with substantial copper and zinc production, and alongside our Skouries project in Greece, will transform Eldorado into a high-margin, free cash flow generating business. We are proud to become part of the Saskatchewan mining community and look forward to building lasting relationships with our employees, Indigenous rightsholders and local communities and all levels of government as we advance this exceptional asset together.”

The Honourable Scott Moe, Premier of Saskatchewan commented, “First concentrate at McIlvenna Bay is great news for Saskatchewan and for Canada. This project is a testament to what is possible when responsible resource development, strong Indigenous partnerships, and committed investors come together in a premier mining jurisdiction. McIlvenna Bay will generate jobs, economic activity, and long-term prosperity for communities across Saskatchewan for decades to come. We congratulate Eldorado Gold on reaching this important milestone and look forward to the project's continued success.”

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