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VANCOUVER, British Columbia, Sept. 08, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) is pleased to announce that first copper-gold concentrate has been produced at its wholly owned Skouries Project in northern Greece, marking a significant milestone in the transition of the project from construction to operations and a major step toward commercial production which is expected to be achieved in the fourth quarter of 2026.

First concentrate was produced on September 8 as part of the ongoing commissioning and ramp-up of the processing plant. This milestone follows the introduction of first ore to the crusher in July and reflects the successful commissioning of key process plant systems, including crushing, grinding, flotation and tailings thickening circuits. The ore stockpile currently exceeds 4.6 million tonnes above reserve grade, providing a strong foundation for ramp-up and underpinning more than seven months of processing throughput and concentrate production.

"This is a defining moment for Eldorado," said George Burns, Chief Executive Officer. "First concentrate at Skouries represents the culmination of years of development, construction and partnership and marks the beginning of a new chapter for our Company. Skouries is not only a transformational asset for Eldorado, but also one of the most significant investments in Greece and one of Europe's largest copper-gold projects. Together with McIlvenna Bay in Saskatchewan, Skouries is expected to transform Eldorado into a larger, more diversified precious metals and critical minerals producer with a stronger production base, meaningful copper and silver exposure and enhanced free cash flow generation. We are proud of what has been accomplished through our partnership with the Greek government and banks, local communities, our workforce and other stakeholders, and we look forward to creating long-term value and benefits for Greece and all stakeholders for decades to come."

Key infrastructure commissioning has steadily progressed with crushing, grinding, flotation, tailings thickening, and concentrate thickening systems operating successfully. Temporary on-site power generation continues to support early operations and ramp-up until connection to the national power grid is achieved, which remains subject to final inspections, testing and installation of metering equipment by the Greek transmission authority and is expected in September 2026.

Stockpile dome and process plant

Semi-autonomous grinding mill (SAG) & Ball mill

Flotation cells and regrind mill (in the foreground)

Skouries is expected to produce on average 140,000 ounces of gold and 67 million pounds of copper annually over the life of mine.

Multimedia

A video showing first concentrate can be found here: https://youtu.be/heLd6g9_tn4Photos of the progress at Skouries can be viewed and downloaded via this link: https://eldoradogold.getbynder.com/web/18d252a9d9d595a6/september-2026-project-progress/ Qualified Person

Simon Hille, FAusIMM, Executive Vice President, Chief Operating Officer, is the Qualified Person under National Instrument 43-101 responsible for preparing and supervising the preparation of the scientific or technical information contained in this news release and for verifying the technical data disclosed in this document relating to Skouries.

About Eldorado Gold

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Türkiye, 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]        

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “estimate”, “expect”, "focus", “forecast”, “foresee”, “future”, “goal”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “potential”, “project”, “prospective”, “schedule”, “strive”, “target”, “underway”, "working" or the negatives thereof or variations of such words and phrases or similar words or statements that certain actions, events or results “can”, “could”, "likely", "may", “might”, “will” or "would" be taken, occur or be achieved.

Forward-looking statements or information contained in this news release include, but is not limited to, statements or information with respect to: the transition of the project from construction to operations; expected commercial production and expected timing thereof; our expectations of the ore stockpile regarding ramp-up, processing throughput, and concentrate production; ongoing commissioning and ramp-up, including energization activities, and expected progress thereof; expected connection to the national power grid and expected timing thereof; expected benefits of the Skouries Project including, together with McIlvenna Bay, transforming us into a larger, more diversified precious metals and critical minerals producer with a stronger production base, meaningful copper and silver exposure and enhanced free cash flow generation; expected benefits of the Skouries Project to Greece and other stakeholders; expected gold production and copper production of the Skouries Project annually over the life of mine; and generally our strategy, plans and goals, including our proposed development, construction, permitting, financing and operating potential, plans and priorities and related timelines and schedules.

Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance, or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning, among other things: timing, costs and results of our construction and development activities, improvements and exploration, including at the Skouries Project, the McIlvenna Bay Project and our other operating mines and development projects; the current or future price of gold, copper and other commodities; the availability of financing for our exploration, development and operating activities and our ability to access existing project funding and remain in compliance with all covenants and contractual commitments related thereto; the geopolitical, economic, permitting and legal climate that we operate in, including recent disruptions to shipping operations in the Strait of Hormuz and Red Sea and any related shipping delays, shipping price increases, or impacts on the global energy market; availability of labour resources, including for construction, development and improvement activities; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom; general business and economic conditions, including interest rates, inflation, commodity and power prices, credit and financial market conditions and the impact of foreign exchange rates and tax rates and related frameworks; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to develop, finalize and execute on our updated five-year strategic plan through 2030; acts of governments and the outcome of any legal or regulatory proceedings or other disputes that we may be involved in; our ability to continue to make purchases under our normal course issuer bid and to pay dividends; the impact of acquisitions, dispositions, suspensions or delays on our business; our ability to manage and mitigate the risks associated with our use of technology and artificial intelligence; the expected vesting and redemption outcomes under our compensation securities; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables; the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the effectiveness of our hedging programs; and our ongoing relations with regulators, communities, and our partners.

More specifically, with respect to the Skouries Project and updates, we have made additional assumptions regarding: our ability to continue executing our plans relating to the Skouries Project on the estimated existing project timeline and consistent with the current planned project scope; labour productivity, rates, and expected hours; inflation rates; the timeliness of shipping for important or critical items; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; our ability to obtain and maintain all required approvals and permits, both overall and in a timely manner; our ability to obtain the requisite inspections and approvals for energization of the power supply from the power authority in a timely manner; the absence of further previously unidentified archaeological discoveries which would delay construction of various portions of the project; the future price of gold, copper, and other commodities; and the broader community engagement and social climate in respect of the Skouries Project.

In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: commodity price risk; construction and development risks at the Skouries Project, the McIlvenna Bay Project and our other construction and development projects; changing political, economic and social conditions, including changes in governments or political systems, ongoing market uncertainty and global or regional geopolitical events, conflicts or disruptions; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom on the timelines expected or at all; delays and risks relating to surface construction, commissioning activities, ramp-up, and commercial production at McIlvenna Bay; our ability to obtain reliable supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables, including risks from volatility and inflationary pressures as a result from the ongoing international conflict in Iran; inflation risk; risks related to fluctuations in the currency markets, including the Euro, Turkish lira, Canadian dollar and United States dollar; community relations and social license; environmental matters; geotechnical and hydrogeological structures, conditions or failures, including our ability to completely understand such structures and to mitigate such conditions or failures at a reasonable cost or at all; regulatory requirements as they relate to mine plan approvals; compliance with the Extractive Sector Transparency Measures Act (Canada); waste disposal; mineral tenure; permits, licenses and other authorizations; non-governmental organizations; reputational issues; climate change, including risks related to forest fires and water management; water collection, treatment and disposal operations at our mines, including the ability to manage unexpectedly large quantities of water; risk of spills or failure from our tailings operations (including circumstances beyond our control such as extreme weather, seismic events, prolonged droughts or heavy rainfall); environmental risks from our heap leaching operations, including hazardous materials management of our use of cyanide; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of Mineral Reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic or similar public health threats; regulated substances; acquisitions, including integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness, including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings; total cash costs per ounce and all in sustaining costs, including in relation to the market price of gold and the Company’s profitability; interest rate risk; credit risk; tax matters; financial reporting, including relating to the carrying value of our assets and changes in reporting standards; the global economic environment; labour risks (availability of labour resources, including for construction, development and improvements activities, and their productivity; and risks relating to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates and contractors, reclamation and long-term obligations); turnover and attrition rates of labour, and related impacts thereto; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks related to title and surface rights; risks relating to environmental, sustainability, health and safety, and governance matters; technology and cybersecurity risks; corruption, bribery, and sanctions; litigation and contracts; conflicts of interest; compliance with applicable laws, legislation and regulations; dividends; tariffs and other trade barriers; and those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

With respect to the Skouries Project, these risks, uncertainties and other factors may cause further delays in the completion of the construction and commissioning at the Skouries Project which in turn may cause delays in the commencement of production and further increases to the costs of the Skouries Project. The specific risks, uncertainties and other factors include, among others: our ability to efficiently manage the transitions from construction to commissioning to operations (including EPCM performance and owner team turn over); our ability to increase productivity by, among other things, adding or modifying labour shifts; rising labour costs or costs of key inputs such as materials, power and fuel; risks related to any unanticipated critical equipment defects or failures during the commissioning and ramp-up of operations; risks related to third-party contractors, including reduced control over aspects of the Company's operations, and/or the ability of contractors to perform at required levels and according to baseline schedules, costs of any engineering rework and any commercial disputes that may arise from a contractor’s failure to meet these requirements; the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality and the impact of any vendor data errors; impacts to overhead costs related to the schedule; our ability to construct key infrastructure within the required timelines, including the process plant, filter plant, substation, waste management facilities, embankments, tailings conveyors, and water management infrastructure; the timely receipt of necessary permits and authorizations and our ability to comply with the terms of existing and future permits and authorizations; differences between projected and actual degree of pre-strip required in the open pit; variability in metallurgical recoveries and concentrate quality due to factors such as extent and intensity of oxidation or presence of transition minerals; presence of additional structural features impacting hydrological and geotechnical considerations; variability in minerals or presence of substances that may have an impact on filtered tails performance and resulting bulk density of stockpiles or filtered tails; distribution of sulfides that may dilute concentrate and change the characteristics of tailings; unexpected disruptions to operations including due to protests, non-routine regulatory inspections, road conditions, on site or labour unrest; unexpected inclement weather and climate events, including wildfires, short and long duration rainfall and floods and other extreme weather events and our site's ability to respond to those events; our ability to meet pre-commercial producing mining or underground development targets; unexpected results from underground stopes; new archaeological discoveries requiring the completion of a regulatory process; changes in support from local communities; and our ability to meet the expectations of communities, governments, and stakeholders related to the Skouries Project. Our project capital and accelerated operational capital costs at Skouries are incurred primarily in Euros but are reported in US dollars and are therefore sensitive to fluctuations in the EUR/USD exchange rate.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.

Empowered Funds LLC reduced its holdings in shares of Eldorado Gold Corporation (NYSE:EGO – Free Report) (TSE:ELD) by 93.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,523 shares of the basic materials company’s stock after selling 90,901 shares during the period. Empowered Funds LLC’s holdings in Eldorado Gold were worth $224,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EGO. Goldman Sachs Group Inc. boosted its stake in shares of Eldorado Gold by 50.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock valued at $13,426,000 after purchasing an additional 266,048 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Eldorado Gold by 6.0% in the second quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock worth $2,318,000 after buying an additional 6,383 shares during the period. JPMorgan Chase & Co. boosted its position in Eldorado Gold by 1,209.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock valued at $6,903,000 after buying an additional 313,449 shares during the period. Jump Financial LLC bought a new stake in Eldorado Gold in the 2nd quarter worth $859,000. Finally, Cerity Partners LLC grew its holdings in Eldorado Gold by 15.2% in the 2nd quarter. Cerity Partners LLC now owns 36,039 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 4,758 shares during the last quarter. 69.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets EGO has been the subject of several recent analyst reports. Stifel Nicolaus raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a research note on Friday, July 31st. Scotiabank cut their target price on Eldorado Gold from $55.00 to $47.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Citigroup downgraded Eldorado Gold to a “sector perform” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce raised Eldorado Gold from a “neutral” rating to an “outperform” rating in a research report on Sunday, August 9th. Finally, Royal Bank Of Canada dropped their price objective on Eldorado Gold from $39.00 to $37.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eldorado Gold presently has an average rating of “Hold” and a consensus target price of $41.83.

View Our Latest Report on EGO Eldorado Gold Trading Up 7.8% NYSE:EGO opened at $41.73 on Thursday. The company has a 50-day moving average price of $33.00 and a 200-day moving average price of $35.18. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.29 and a beta of 0.63. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. Eldorado Gold Corporation has a 12 month low of $22.15 and a 12 month high of $51.16.

Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Eldorado Gold had a net margin of 29.83% and a return on equity of 10.91%. The company had revenue of $487.50 million for the quarter, compared to analysts’ expectations of $529.92 million. Equities analysts predict that Eldorado Gold Corporation will post 3.2 EPS for the current year.

Eldorado Gold Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.075 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. Eldorado Gold’s dividend payout ratio is 10.64%.

Eldorado Gold Profile (Free Report)

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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On August 13, 2026, Eldorado Gold Corp (EGO) shares fell 3.1% today, trading at $38.44. The stock has experienced a notable 52-week range, hitting a high of $51

  (All amounts expressed in U.S. dollars unless otherwise noted)

VANCOUVER, British Columbia, July 30, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (“Eldorado”, "Eldorado Gold" or “the Company”) (TSX: ELD) (NYSE: EGO) today reports the Company’s financial and operational results for the second quarter of 2026. For further information, please see the Company’s Consolidated Financial Statements and Management’s Discussion and Analysis ("MD&A") filed on SEDAR+ at www.sedarplus.com under the Company’s profile.

Second Quarter 2026 Highlights
Operations

Gold production: 104,616 ounces.Gold sales: 102,691 ounces at an average realized gold price per ounce sold(1) of $4,379.Total cash costs(1): $1,432 per ounce sold.All-in sustaining costs ("AISC")(1): $1,926 per ounce sold.Total capital expenditures: $441.3 million, including $154.6 million of project capital and $59.6 million of accelerated operational capital at Skouries, and $78.1 million project capital invested at McIlvenna Bay. Growth capital(1) at the operating mines totalled $91.1 million and sustaining capital(1) at operating mines totalled $35.0 million. Financial

Revenue: $487.5 million.Production costs: $184.8 million.Net cash generated from operating activities from continuing operations: $149.5 million.Cash flow from operating activities before changes in working capital(1): $103.1 million.Cash and cash equivalents: $554.6 million, as at June 30, 2026. Cash decreased by $314.8 million compared to Q4 2025, primarily due to growth capital investment, share buybacks, repayments of the VAT Facility, dividend payments, and income taxes paid. These cash outflows are offset partly by cash generated from operating activities, drawdowns on the Credit Facility and Term Facility as well as cash received on the acquisition of Foran Mining Corporation ("Foran").(2)Net earnings attributable to shareholders: $172.8 million, or $0.69 basic earnings per share.Adjusted net earnings(1): $136.7 million or $0.54 per share in Q2 2026. Adjustments in Q2 2026 include a $47.4 million gain on deferred tax due to changes in the Turkish corporate income tax rate, a net gain on derivative instruments of $19.0 million, and a $13.1 million expense relating to acquisition and integration costs.Adjusted net earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA")(1): $281.1 million in Q2 2026.Free cash flow(1): Negative $334.1 million in Q2 2026 primarily due to continued investment in Skouries and McIlvenna Bay. Free cash flow excluding Skouries and McIlvenna Bay(1) was $40.9 million. Production and Cost Outlook

The Company is updating its consolidated 2026 annual gold production guidance to 495,000 to 600,000 ounces, reflecting the addition of initial gold production from McIlvenna Bay. Gold production in 2026 continues to be weighted to the second half of the year.

Excluding Skouries and McIlvenna Bay, the Company is maintaining its annual gold production guidance of 430,000 to 490,000 ounces, total cash costs per ounce sold of between $1,220 to $1,420 and AISC per ounce sold of between $1,670 to $1,870 per ounce sold.

Post acquisition production at McIlvenna Bay in 2026 is expected to be between 5 to 10 million pounds of copper, 3,000 to 6,000 tonnes of zinc, 5,000 to 10,000 ounces of gold and 100,000 to 200,000 ounces of silver. Operating costs per tonne are expected to range between $90 to $110 by the end of December 2026, and trend lower as the operation reaches steady-state production levels.

Corporate

On July 30, 2026, the Company declared a third quarter dividend of $0.075 per common share, payable on September 15, 2026 to shareholders of record at the close of business on September 1, 2026.Steve Reid stepped down as Chair and from the Board, effective July 30, 2026.Dan Myerson was appointed as Chair of the Board, effective July 30, 2026.Patrick Godin was appointed as Lead Independent Director, effective July 30, 2026.George Burns will retire as Chief Executive Officer of Eldorado Gold, effective September 30, 2026. Following his retirement from management, Mr. Burns will remain on the Company’s Board of Directors.
Christian Milau will assume the role of President and Chief Executive Officer and will join the Board of Directors, effective September 30, 2026.Paul Ferneyhough’s role will expand to Executive Vice President, Strategy and Chief Financial Officer, effective September 30, 2026. Commentary

“Second quarter results reflect continued cash flow generation across the portfolio, supported by a favourable gold price environment and consistent operational performance, despite planned lower production at Kisladag," said George Burns, Chief Executive Officer. "We benefited from a full quarter of production at Ormaque, which contributed to strong output at the Lamaque Complex, while Olympias delivered a third consecutive quarter of steady, plan-aligned performance as the operation continues to demonstrate improved consistency.

We also achieved several key milestones across our growth projects. At Skouries, construction is nearing completion, with first ore successfully crushed on temporary power, marking an important step as we prepare to transition from commissioning into operations. At McIlvenna Bay, following the successful integration of the Foran acquisition, we achieved first copper concentrate during the quarter and first zinc concentrate in July, with the operation now ramping up toward commercial production later in the third quarter.

Overall, these achievements reflect continued execution across our portfolio as we advance our growth projects and position the Company for increasing production and cash flow generation through the second half of the year.”

Skouries Highlights

The Skouries Project, part of the Kassandra Mines Complex, is located within the Halkidiki Peninsula of Northern Greece and is a high-grade copper-gold project. In January 2022, Eldorado published the results of the Skouries Project Feasibility Study with a 20-year mine life and expected average annual production over the life of the mine of 140,000 ounces of gold and 67 million pounds of copper, or approximately 240,000 gold equivalent ounces(3).

First production of the copper-gold concentrate is expected in Q3 2026 and commercial production is expected in Q4 2026, with 2026 gold production projected to be between 60,000 and 100,000 ounces and copper production projected to be between 20 and 40 million pounds.

Skouries site layout

Concentrate Off-Take Agreements

The Company has entered into concentrate sales agreements with several offtakers for all expected 2026 volumes and a portion of 2027 volumes, and is in the final process with other counterparties to conclude agreements covering production through to 2029. The commercial terms agreed to are significantly better than those assumed in the 2022 feasibility study, reflective of the prevailing strong market conditions for copper-gold concentrates.

Capital Estimate and Schedule

The capital cost estimate for Skouries is approximately $1.315 billion to commercial production. The accelerated operational capital estimate is approximately $260.0 million to commercial production. The final capital cost for Skouries will reflect, among other things, completion of remaining project scope and is dependant on the date of commercial production.

The project remains fully funded through operating cash flow, cash and debt financing. The Term Facility totalling €740.4 million ($843.6 million) is fully drawn (including the Contingent Overrun Facility of €60.0 million which was drawn in Q2 2026).(4)

Project capital totalled $154.6 million in Q2 2026 and $290.2 million during the six months ended June 30, 2026. Accelerated operational capital cost totalled $59.6 million in Q2 2026, and $108.2 million during the six months ended June 30, 2026. At June 30, 2026, cumulative project capital invested towards Phase 2 of construction totalled $1.270 billion, and the cumulative accelerated operational capital totalled $201.3 million.

The Company is well positioned for start‑up, with over 3.9 million tonnes of ore stockpiled which is expected to provide the ore feed required through 2026 and supports a lower-risk commissioning and first year of production. Open pit and underground ore mining will continue for the balance of 2026 and will be blended to maximize cash flow with lower value ore being stockpiled for future years.

Construction Activities

As at June 30, 2026 overall project progress was 97% complete.

Primary Crusher Building

The primary crusher has crushed first ore in July in anticipation of mill start-up, marking an important commissioning milestone for the crushing circuit.

The stockpile dome, ancillary feeders and associated chute work is complete and ready for full operations.

Coarse ore stockpile dome

Process Plant

The process plant is substantially complete, with wet commissioning well underway, in preparation for first ore introduction. Water circulation testing through the entire circuit to the tailings thickener/filter feed tanks is underway.

Thickeners

Two of the three tailings thickeners are in the final stages of being commissioned in advance of first ore. Concrete foundation work for the third tailings thickener, which is not required for start-up, has commenced, with completion planned in Q3 2026.

Thickeners

Filtered Tailings Facility

Work continues to progress on the filtered tailings plant which remains on the critical path, with electrical installations and commissioning as the final steps. Work is also advancing on the tailings handling infrastructure which is not required for first concentrate production.

Mechanical and electrical work on two of the six filters has been completed, with both filters ready for commissioning.

Construction of the filter plant tank farm with pump and piping installation and electrical connections are advancing towards commissioning commencement.

Filtered Tailings Facility

Powerline and Substations

Power infrastructure construction at Skouries has continued to advance and construction of all 12 towers and conductors is now complete. In July, the Company coordinated a successful eight-hour power suspension on the transmission line to enable installation of the final transmission tower. Initial tests of the sub-station have been completed by an independent third-party testing group. Final site energization and receipt of final sign-off remains contingent on inspection, which includes final testing and installation of metering equipment by the relevant Greek authority.

In the interim, the Company is proactively adding additional gensets to support commissioning activities and maintain progress where practical, including readiness and commissioning activities within the process plant. Full operation of major process plant systems, crushing, grinding, flotation, concentrate handling and tailings disposal, requires final site energization by the power authority.

Process plant substation

Commissioning Activities

The plant continues to progress towards commissioning readiness across the major process and utility systems. The majority of the site’s electrical distribution network has been energized using temporary power, enabling the testing and commissioning of equipment prior to startup. Critical air and water utility systems are being progressively transferred to the commissioning team, supporting equipment flushing, functional testing, and wet commissioning. Equipment supplier specialists are on-site to support the commissioning of the SAG mill and ball mill, and work is ongoing. Successful integrated water testing of the process water, rougher flotation, and tailings thickening systems confirmed system performance and enabled expanded wet commissioning activities. Commissioning of the primary crushing and conveying system has begun, with extended runs of main equipment.

Integrated Extractive Waste Management Facility

The initial filtered tailings placement areas are well advanced. The platform for the tailings stacker is complete and ready for assembly, while the access ramp and platform for the mobile (grasshopper) conveyors have been excavated and prepared for placement of the conveyor units. Construction of the rock buttress supporting the downstream embankment of the first filtered tailings placement area in the Karatza Lakkos ("KL") valley is progressing and will be completed ahead of tailings placement.

Foundation preparation for the first phase of the KL filtered tailings embankment is substantially complete, and placement of engineered fill is underway across the full footprint.

Construction of the low-grade ore stockpile continued advancing. The lower section has been completed and construction is now focusing on the upper section.

Open Pit Mining

The open pit mine continued to ramp up during Q2 2026 and remains ahead of plan in building ore stockpiles for the process plant start-up. During the quarter, 1.28 million tonnes of ore were delivered to the stockpiles. At the end of Q2 2026, the stockpiles contained approximately 3.6 million tonnes of open pit and underground ore, representing an estimated 134,000 ounces of gold and 44 million pounds of copper.

Underground Development

The underground mine delivered 131 kt of ore to stockpiles during Q2 2026. Underground access development rates continued to accelerate, with a total of 2,191 metres of development completed during the quarter. Monthly advance rates reached a project record of 900 metres in May 2026, and the ventilation drive connecting the east and west ramps was also completed during the quarter.

Drilling of the third test stope commenced in Q2 2026 in preparation for blasting and extraction of a larger test stope (approximately 100 kt), which is expected to support improved productivity.

Processing

The processing operations and maintenance teams have successfully completed their theoretical training and are now completing job familiarization training at both the Skouries and Olympias sites.

Twelve highly experienced process plant ramp-up experts have been contracted to support the operations team during the first three months of operations.

Workforce

As at June 30, 2026, there were approximately 2,948 personnel working on site, including 515 Skouries employees.

Skouries Multimedia

A progress update video can be found here: https://youtu.be/jMpdM-m6vY4Photos of the construction progress at Skouries can be viewed and downloaded via this link:
https://eldoradogold.getbynder.com/share/303E6589-7229-4764-9BAC8F7299A7E887/ McIlvenna Bay Highlights

The McIlvenna Bay Mine, located in Saskatchewan, Canada, is a copper-zinc-gold-silver project that Eldorado acquired through its acquisition of Foran, which closed on April 14, 2026. In March 2025, Foran published a McIlvenna Bay Project Feasibility Study, with an 18-year mine life and expected average annual production over the life of the mine of 41 million pounds of copper, 20,000 ounces of gold, 444,000 ounces of silver and 54 million pounds of zinc.

First production of copper concentrate from McIlvenna Bay was achieved on June 7, 2026 with production of first zinc concentrate achieved in July. The focus is on optimizing current operations and increasing throughput to full design capacity, with a ramp up to commercial production expected in Q3 2026. In Q2 2026, plant throughput was 5,405 tonnes resulting in 65,398 payable copper pounds produced.

The mine is expected to have a long life and is supported by a robust resource base, with highly prospective exploration upside across the broader district, including the nearby Tesla Zone. The initial Mineral Resource for Tesla is expected to be published in the fourth quarter of 2026. An updated Technical Report is expected to be released in the first quarter of 2027.

Located in one of the world’s most attractive mining jurisdictions, the project benefits from established infrastructure and is designated by the Government of Canada as a project of national significance to support critical mineral development.

Production at McIlvenna Bay in 2026 is expected to be 5 to 10 million pounds of copper, 3,000 to 6,000 tonnes of zinc, 5,000 to 10,000 ounces of gold and 100,000 to 200,000 ounces of silver. Operating costs per tonne are expected to range between $90 to $110 by the end of December 2026, and trend lower as the operation reaches steady-state production levels.

The total project capital cost estimate from June 1, 2024 to commercial production is expected to be $952 million. Project capital totalled $78.1 million during Q2 2026 (reported from the date of acquisition of April 14, 2026). During the third quarter the remaining spend is expected to be $90 million and relates to completion of the paste plant, water treatment plant, underground development and process optimization, together with additional scope and the final commissioning and ramp-up activities required to support commercial production.

McIlvenna Bay Mine Site Overview

Operating Activities

Primary Crusher Building

More than 400 kt of copper and zinc mineralized material is available on surface for processing. The primary crusher is operating at design capacity, material transfer to the fine ore bin is as expected, and ore-sorting and metal separation practices continue to be refined.

Process Plant

The SAG and ball mill circuits are ramping up well and continue to demonstrate increasing throughput as commissioning advances. As expected for a new processing plant, we continue to work through equipment, instrumentation and other availability-related challenges associated with ramp-up. Throughput is expected to continue increasing through the third quarter as the operation progresses toward commercial production.

Flotation

All flotation circuits are fully commissioned and have successfully produced copper, zinc and pyrite concentrates. Final commissioning of the regrind circuit is underway and expected to be completed in early August, supporting further improvements in concentrate quality as ramp-up progresses.

Thickening & Filtration

The thickening and filtration circuits are key to the ramp up of production. The teams are working to optimize the sequence of filtration and the thickening control circuit.

Tailings filtration within the process plant

Underground Development

Underground development continues to advance well. In addition to the 400 kt of ore stockpiled on surface, the mine has approximately 20 kt of blasted inventory, more than 330 km of drilling, and approximately 2 million tonnes of fully developed reserves within Block 1.

Mucking out a stope

Study Commenced on Processing Expansion, Including Throughput Increase and Silver-Lead Circuit

The Company has commenced a study to evaluate an expansion of the processing facility, which includes an increase in throughput as well as the incorporation of a silver‑lead circuit. The expansion will evaluate a potential increase of processing capacity at McIlvenna Bay from 4,900 tonnes per day to approximately 7,000 tonnes per day. The addition of a dedicated silver‑lead circuit into the flowsheet is expected to enable recovery of lead into a separate concentrate and improve payable silver recoveries relative to the current design.

This initial study will assess the technical, economic, environmental and permitting considerations associated with the expansion. Any future development would be subject to completion of the project evaluation, receipt of required permits, Indigenous and Stakeholder engagement, and a positive final investment decision. The Company is targeting commissioning of the silver‑lead circuit in 2028 and the expansion in 2030.

Positioned as the Foundation for Long-Term District Growth

The McIlvenna Bay Mine is core to our view of the district-scale geological potential to deliver future satellite development opportunities. Ongoing exploration will target additional resources, which could support further expansion or a separate processing facility over time. The 2026 exploration program includes approximately 14,000 metres of diamond drilling focused on resource expansion, high grade extensions, and advancing regional targets.                        

In parallel, core scanning programs will enhance geological modelling and orebody characterization. Airborne and ground geophysical surveys are expected to help refine known deposit footprints and identify new targets across the broader land package.

McIlvenna Bay Multimedia

Photos of the McIlvenna Bay site can be viewed and downloaded via this link:
https://eldoradogold.getbynder.com/share/9751B411-8FE0-4543-B224904FFB39B6DC/ Consolidated Financial and Operational Highlights

 3 months ended June 30, 6 months ended June 30,  2026  2025   2026  2025 Revenue$487.5 $451.7  $1,019.9 $807.0 Gold produced (oz) 104,616  133,769   204,974  249,662 Gold sold (oz) 102,691  131,489   203,310  247,752 Average realized gold price ($/oz sold)(2)$4,379 $3,270  $4,632 $3,112 Production costs 184.8  162.2   373.0  310.5 Total cash costs ($/oz sold)(2,3) 1,432  1,064   1,451  1,106 All-in sustaining costs ($/oz sold)(2,3) 1,926  1,520   1,934  1,538 Net earnings for the period(1) 172.8  138.0   309.2  210.4 Net earnings per share – basic ($/share)(1) 0.69  0.67   1.38  1.03 Net earnings per share – diluted ($/share)(1) 0.68  0.67   1.36  1.02 Net earnings for the period continuing operations(1,4) 172.8  139.0   309.2  211.0 Net earnings per share continuing operations – basic ($/share)(1,4) 0.69  0.68   1.38  1.03 Net earnings per share continuing operations – diluted ($/share)(1,4) 0.68  0.67   1.36  1.02 Adjusted net earnings(1,2,4) 136.7  90.1   325.0  146.5 Adjusted net earnings per share - basic ($/share)(1,2,4) 0.54  0.44   1.45  0.72 Net cash generated from operating activities(4) 149.5  158.2   290.9  288.6 Cash flow from operating activities before changes in working capital(2,4) 103.1  202.0   290.2  338.5 Free cash flow(2,4) (334.1) (61.6)  (463.2) (91.0)Free cash flow excluding Skouries and McIlvenna Bay(2,4,5) 40.9  61.5   103.8  129.4 Cash and cash equivalents(4) 554.6  1,078.6   554.6  1,078.6 Total assets 10,252.2  6,303.8   10,252.2  6,303.8 Debt 1,749.9  1,157.1   1,749.9  1,157.1  (1) Attributable to shareholders of the Company.
(2) These financial measures or ratios are non-IFRS financial measures or ratios. See the section 'Non-IFRS and Other Financial Measures and Ratios' of our MD&A for explanations and discussions of these non-IFRS financial measures or ratios.   
(3) Includes costs allocated to by-products.
(4) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.
(5) Amounts presented add back cash-basis capital expenditure on the Skouries Project in the respective periods and the McIlvenna Bay Mine only in 2026.

In Q2 2026, we produced 104,616 ounces of gold, a decrease from Q2 2025 production of 133,769 ounces. The decrease was driven by decreases at Kisladag, due to the planned lower tonnes and ore grade stacked, and at Efemcukuru, due to lower ore grade and recoveries, partially offset by higher production at Lamaque as a result of higher throughput and recoveries, which includes the positive impact of Ormaque ore following receipt of the operating authorization in March.

Gold sales in Q2 2026 were 102,691 ounces, a decrease from 131,489 ounces sold in Q2 2025. The lower sales volume reflects lower production at Kisladag and Efemcukuru, partially offset by higher production at Lamaque.

The average realized gold price was $4,379 per ounce sold in Q2 2026, an increase from $3,270 per ounce sold in Q2 2025.

Total revenue increased to $487.5 million in Q2 2026 from $451.7 million in Q2 2025 and to $1,019.9 million in the six months ended June 30, 2026, from $807.0 million in the six months ended June 30, 2025. The increases in both periods were due to the higher average realized gold price, partially offset by lower volumes sold.

Production costs increased to $184.8 million in Q2 2026 from $162.2 million in Q2 2025 and to $373.0 million in the six months ended June 30, 2026 from $310.5 million in the six months ended June 30, 2025. Increases in both periods were driven by higher royalties in Turkiye and Greece, which accounted for approximately 23% and 53% of the increase to production costs for Q2 2026 and the six months ended June 30, 2026, respectively. The remainder relates primarily to increases in labour, contractors and maintenance in both the Turkiye operations, due to inflation and planned maintenance, as well as Lamaque due to deepening the production centre of the Triangle Mine.

Production costs include royalty expense, which increased to $33.8 million in Q2 2026 from $28.7 million in Q2 2025 and increased to $83.9 million in the six months ended June 30, 2026 from $50.9 million in the six months ended June 30, 2025. Increases in both periods were due to higher average realized gold prices and higher royalty rates, partially offset by lower volumes sold.

Total cash costs(5) averaged $1,432 per ounce sold in Q2 2026, an increase from $1,064 in Q2 2025, and $1,451 in the six months ended June 30, 2026 from $1,106 in the six months ended June 30, 2025. The increases in both the three and six-month periods were primarily due to higher production costs and lower volumes sold, partially offset by higher costs allocated to by-products.

AISC per ounce sold(5) averaged $1,926 in Q2 2026, an increase from $1,520 in Q2 2025, and $1,934 in the six months ended June 30, 2026 from $1,538 in the six months ended June 30, 2025. The increases in both periods were driven by higher total cash costs and lower volumes sold, partially offset by lower sustaining capital expenditures.

The Company reported net earnings attributable to shareholders from continuing operations of $172.8 million ($0.69 earnings per share) in Q2 2026 compared to net earnings of $139.0 million ($0.68 earnings per share) in Q2 2025 and net earnings of $309.2 million ($1.38 earnings per share) in the six months ended June 30, 2026 compared to net earnings of $211.0 million ($1.03 earnings per share) in the six months ended June 30, 2025. The increase in net earnings in both periods were driven by higher average realized gold prices, foreign exchange gains and lower depreciation, partially offset by lower volumes sold, higher production costs and higher income tax expense.

Adjusted net earnings(5) was $136.7 million ($0.54 adjusted earnings per share) in Q2 2026 compared to adjusted net earnings of $90.1 million ($0.44 adjusted earnings per share) in Q2 2025. Adjustments of non-recurring items in Q2 2026 include a reversal of $116.6 million of unrealized losses on derivative instruments, a $97.6 million realized loss on gold and copper commodity swaps relating to the Term Facility, a $47.4 million gain on deferred tax due to changes in the Turkish corporate income tax rate, and a $13.1 million expense relating to acquisition and integration costs.

Adjusted net earnings(5) was $325.0 million ($1.45 adjusted earnings per share) in the six months ended June 30, 2026 compared to adjusted net earnings of $146.5 million ($0.72 adjusted earnings per share) in the six months ended June 30, 2025. Adjustments of non-recurring items in the six months ended June 30, 2026 include a reversal of $96.6 million of unrealized losses on derivative instruments, a $97.6 million realized loss on gold and copper commodity swaps relating to the Term Facility, a $34.1 million loss on foreign exchange due to the translation of deferred tax balances, a $47.4 million gain on deferred tax due to changes in the Turkish corporate income tax rate, and a $20.8 million expense relating to acquisition and integration costs.

Quarterly Operations Update

 3 months ended June 30,6 months ended June 30, 2026202520262025Consolidated    Gold produced (oz) 104,616 133,769 204,974 249,662Gold sold (oz) 102,691 131,489 203,310 247,752Production costs$184.8$162.2$373.0$310.5Total cash costs ($/oz sold)(1,2)$1,432$1,064$1,451$1,106All-in sustaining costs ($/oz sold)(1,2)$1,926$1,520$1,934$1,538Sustaining capital expenditures(2)$35.0$44.1$67.9$76.9Kisladag    Gold produced (oz) 19,108 46,058 47,447 90,377Gold sold (oz) 19,389 45,290 47,700 89,628Production costs$41.6$52.7$98.3$100.2Total cash costs ($/oz sold)(1,2)$2,050$1,133$1,958$1,086All-in sustaining costs ($/oz sold)(1,2)$2,407$1,324$2,201$1,232Sustaining capital expenditures(2)$5.6$6.5$9.0$8.8Lamaque    Gold produced (oz) 52,340 50,640 94,646 91,078Gold sold (oz) 50,060 49,447 94,667 91,652Production costs$44.2$36.1$86.0$71.9Total cash costs ($/oz sold)(1,2)$865$721$884$774All-in sustaining costs ($/oz sold)(1,2)$1,192$1,231$1,276$1,305Sustaining capital expenditures(2)$16.1$25.4$36.3$48.1Efemcukuru    Gold produced (oz) 18,019 21,093 33,413 40,400Gold sold (oz) 18,345 20,779 33,518 38,569Production costs$38.7$28.5$76.3$53.2Total cash costs ($/oz sold)(1,2)$1,926$1,335$2,053$1,345All-in sustaining costs ($/oz sold)(1,2)$2,252$1,667$2,377$1,613Sustaining capital expenditures(2)$5.7$6.4$10.3$9.4Olympias    Gold produced (oz) 15,125 15,978 29,444 27,807Gold sold (oz) 14,897 15,973 27,425 27,903Production costs$60.3$44.8$112.4$85.1Total cash costs ($/oz sold)(1,2)$1,923$1,578$1,788$1,929All-in sustaining costs ($/oz sold)(1,2)$2,465$1,967$2,267$2,341Sustaining capital expenditures(2)$7.6$5.8$12.2$10.7 (1) Includes costs allocated to by-products.
(2) These financial measures or ratios are non-IFRS financial measures or ratios. See the section 'Non-IFRS and Other Financial Measures and Ratios' of our MD&A for explanations and discussions of these non-IFRS financial measures or ratios.
 

Kisladag

Kisladag produced 19,108 ounces of gold in Q2 2026 compared to 46,058 ounces in Q2 2025, with the decrease due to the planned lower tonnes while the operation continues accelerated waste removal from phase 6 and the western area. Ore grade decreased to 0.40 grams per tonne in Q2 2026 from 0.74 grams per tonne in Q2 2025, which, combined with the lower tonnage, resulted in lower recoverable ounces stacked during the quarter.

Production is expected to increase in the third quarter compared to the second quarter benefitting from increased throughput and grades.

Revenue decreased to $88.6 million in Q2 2026 from $150.4 million in Q2 2025, reflecting a decrease in gold ounces sold that was partially offset by the higher average realized gold price.

Production costs decreased to $41.6 million in Q2 2026 from $52.7 million in Q2 2025, driven by lower tonnes placed on the pad and gold produced, resulting in lower sales and royalty costs. This was partially offset by higher royalty rates, labour and contractor costs, maintenance and reagents used in water management. Lower gold production was primarily responsible for the increase in total cash costs per ounce sold to $2,050 in Q2 2026 from $1,133 in Q2 2025.

AISC per ounce sold increased to $2,407 in Q2 2026 from $1,324 in Q2 2025, primarily due to lower volumes sold and higher total cash costs.

Sustaining capital expenditures were $5.6 million in Q2 2026 and $9.0 million in the six months ended June 30, 2026, which primarily included planned equipment rebuilds and geometallurgical drilling. Growth capital investment of $32.6 million and $83.8 million in the three and six months ended June 30, 2026 was primarily waste stripping and associated equipment costs and continued construction of the North Heap Leach Pad ("NHLP") Phase 3, as well as one-time land purchases totalling $23.9 million required for the construction of the NHLP and North Rock Dump.

Kisladag incurred higher reagent costs as a result of increased water management activities following a period of higher‑than‑average precipitation that resulted in elevated water levels within site ponds. The Company continues to actively manage water balances across the operation, with a focus on continuing to maximize on‑site water capture and reuse in support of its sustainability objectives, and has constructed additional water storage capacity to enhance operational flexibility.

The current higher metal price environment has enabled further optimization of the Kisladag open pit. The Company is evaluating a pit shell based on a higher reserve gold price assumption of $2,100 per ounce, compared to the prior $1,700 pit shell, which is expected to open up the western area of the pit and support resource expansion in that area. To facilitate this opportunity and address ongoing geotechnical considerations within the open pit, waste stripping is expected to increase by approximately six to eight million tonnes in 2026 over initial plans.

Progress on construction of the whole ore agglomeration circuit, which is expected to increase permeability and reduce leach time, is on track with earthworks well underway and all long-lead items procured. Commissioning and ramp-up are expected in H1 2027.

The geometallurgical study, which characterized future mining phases and evaluated the benefits of additional screening for the high‑pressure grinding rolls, has been completed and the financial evaluation is underway. An investment decision on the additional screening is expected to be considered before year-end. Results from the associated drilling program have increased confidence in grade, ore classifications and recovery variability.

Overall, this mine optimization plan is expected to support improved sequencing of ore and waste movement and with implementation of whole ore agglomeration is expected to contribute to more consistent year‑over‑year operating performance over the longer term.

Lamaque

Lamaque produced 52,340 ounces of gold in Q2 2026, an increase of 3% from 50,640 ounces in Q2 2025. The increase was due to higher throughput, benefiting from strong mill performance and the receipt of the Ormaque operating authorization in March.

Production in the third quarter is expected to be similar to the second quarter.

Revenue increased to $223.4 million in Q2 2026 from $164.8 million in Q2 2025, primarily due to the higher average realized price combined with an increase in gold ounces sold during the quarter.

Production costs increased to $44.2 million in Q2 2026 from $36.1 million in Q2 2025, reflecting higher costs and higher volume sold. As the centre of production at the Triangle Mine deepens, additional costs are incurred for haulage, equipment (including maintenance) and personnel requirements. Total cash costs per ounce sold increased to $865 in Q2 2026 from $721 in Q2 2025 due to higher costs, including mining costs for Ormaque, partially offset by modestly higher ounces sold.

AISC per ounce sold was $1,192 in Q2 2026 compared to $1,231 in Q2 2025, primarily due to lower sustaining capital, partially offset by the increase in total cash costs per ounce sold.

Sustaining capital expenditures of $16.1 million in Q2 2026 and $36.3 million in the six months ended June 30, 2026 primarily included underground development, equipment rebuilds, delineation drilling and purchases. Growth capital investment of $38.3 million in Q2 2026 and $66.1 million in the six months ended June 30, 2026 was primarily related to Ormaque development, construction of the paste plant, construction of the north basin water management structure, and continued ramp development at the Triangle Mine.

Efemcukuru

Efemcukuru produced 18,019 ounces of gold in Q2 2026 compared to 21,093 ounces in Q2 2025. The decrease was primarily due to lower ore grade, which decreased to 4.64 grams per tonne in Q2 2026 from 5.75 grams per tonne in Q2 2025, partially offset by higher mill throughput.

Production in the third quarter is expected to be similar to the second quarter.

Revenue increased to $76.8 million in Q2 2026 from $70.7 million in Q2 2025. The increase was driven by the higher average realized gold price, partially offset by lower gold ounces sold.

Production costs increased to $38.7 million in Q2 2026 from $28.5 million in Q2 2025, primarily due to higher royalty expense as a result of higher gold prices, as well as increased labour and maintenance costs. On a per ounce sold basis, higher royalties and direct operating costs combined with lower gold production resulted in an increase total cash costs per ounce sold to $1,926 in Q2 2026 from $1,335 in Q2 2025.

AISC per ounce sold increased to $2,252 in Q2 2026 from $1,667 in Q2 2025, primarily due to higher total cash costs.

Sustaining capital expenditures of $5.7 million in Q2 2026 and $10.3 million in the six months ended June 30, 2026 were primarily underground development and equipment rebuilds. Growth capital investment of $5.8 million in Q2 2026 and $8.2 million in the six months ended June 30, 2026 related to development costs at Bati, portal development at Kokarpinar, and construction of a water pond and mine rock storage facility.

Olympias

Olympias produced 15,125 ounces of gold in Q2 2026 compared to 15,978 ounces in Q2 2025, driven by lower gold grades, partially offset by a stable ore blend and flotation performance which resulted in increased metal recoveries.

Production in the third quarter is expected to increase, benefitting from increased throughput over the second quarter.

Revenue increased to $98.6 million in Q2 2026 from $65.9 million in Q2 2025, due to the higher average realized gold price, partially offset by lower ounces sold.

Production costs increased to $60.3 million in Q2 2026 from $44.8 million in Q2 2025 driven by higher labour costs and royalties as a result of higher gold prices, partially offset by lower gold sales. On a per ounce sold basis, higher royalties and higher direct operating costs, partially offset by higher by-product credits, increased total cash costs per ounce sold to $1,923 in Q2 2026 from $1,578 in Q2 2025.

AISC per ounce sold increased to $2,465 in Q2 2026 from $1,967 in Q2 2025 primarily due to higher total cash costs combined with higher sustaining capital expenditures.

Sustaining capital expenditures of $7.6 million in Q2 2026 and $12.2 million in the six months ended June 30, 2026 primarily included underground development, underground resource classification drilling, filter press refurbishment, and mobile mining equipment rebuilds and purchases. Growth capital investment of $14.3 million in Q2 2026 and $22.3 million in the six months ended June 30, 2026 was primarily related to the mill expansion project and to a lesser extent underground development.

At Olympias, production has stabilized over the past three quarters, with flotation recoveries returning to modelled levels. Completion of the 650 ktpa expansion is expected by the end of 2026, with ramp‑up anticipated in the first quarter of 2027.

For further information on the Company's operating results for the second quarter of 2026, please see the Company’s MD&A filed on SEDAR+ at www.sedarplus.com under the Company’s profile.

Conference Call

A conference call to discuss the details of the Company’s Second Quarter 2026 Results will be held by senior management on Friday, July 31, 2026 at 11:30 AM ET (8:30 AM PT). The call will be webcast and can be accessed at Eldorado’s website: www.eldoradogold.com or via this link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=KlTNaz6C.

Participants may elect to pre-register for the conference call via this link: https://dpregister.com/sreg/10209854/10438a8dd8a.

Upon registration, participants will receive a calendar invitation by email with dial in details and a unique PIN. This will allow participants to bypass the operator queue and connect directly to the conference. Registration will remain open until the end of the conference call.

Conference Call Details Replay (available until Sept. 11, 2026)Date:July 31, 2026 Vancouver:+1 412 317 0088Time:11:30 AM ET (8:30 AM PT) Toll Free:+1 855 669 9658Dial in:+1 647 846 2782 Access code:6422557Toll free:+1 833 752 3325         About Eldorado

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Turkiye. 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).

Contact

Investor Relations

Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media

Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Non-IFRS and Other Financial Measures and Ratios

Certain non-IFRS financial measures and ratios are included in this news release, including earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"), adjusted net earnings/(loss) attributable to shareholders, adjusted net earnings/(loss) per share attributable to shareholders, total cash costs and total cash costs per ounce sold, all-in sustaining costs ("AISC") and AISC per ounce sold, sustaining and growth capital, average realized gold price per ounce sold, free cash flow, free cash flow excluding Skouries and McIlvenna Bay, and cash flow from operating activities before changes in working capital.

Please see the June 30, 2026 MD&A for explanations and discussion of these non-IFRS and other financial measures and ratios. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards (“IFRS”), provide investors an improved ability to evaluate the performance of our gold mining operations and its ability to generate positive cash flow. These non-IFRS and other financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.

We believe that our use of total cash costs per ounce sold and all-in sustaining costs per ounce sold will assist analysts, investors and other stakeholders of the Company in understanding the costs associated with producing gold, assessing our operating performance, and our ability to generate free cash flow from gold operations. Due to the capital-intensive nature of the industry and the long useful lives over which these assets are depreciated, there can be a significant timing difference between net earnings calculated in accordance with IFRS and the amount of free cash flow that is generated by a mine, and therefore we believe these measures are useful non-IFRS operating metrics and supplement our IFRS disclosures. These measures are not representative of all of our cash expenditures as they do not include income tax payments, interest costs or dividend payments. These measures do not include depreciation or amortization. Certain additional disclosures for these and other financial measures and ratios have been incorporated by reference and can be found in the section 'Non-IFRS and Other Financial Measures and Ratios' in the June 30, 2026 MD&A available on SEDAR+ at www.sedarplus.com and on the Company's website under the 'Investors' section.

EBITDA, Adjusted EBITDA

Our reconciliation of EBITDA and Adjusted EBITDA to earnings from continuing operations before income tax, the most directly comparable IFRS measure, is presented below.

 Q2 2026Q2 2025YTD 2026YTD 2025Earnings before income tax(1)$227.2 $172.2 $473.9 $214.5 Depreciation and amortization(2) 54.7  66.4  109.1  127.0 Interest income (5.4) (9.0) (13.1) (17.2)Finance costs 10.2  0.7  24.1  12.9 EBITDA$286.6 $230.3 $594.1 $337.2 Realized loss on gold and copper derivative instruments 97.6  —  97.6  — Unrealized (gain) loss on derivative instruments (116.6) (18.7) (96.6) 44.7 Acquisition and integration costs 13.1  —  20.8  — Loss (gain) on disposal of assets 0.2  0.2  0.6  (7.1)Share of loss from associate 0.2  —  0.4  — Adjusted EBITDA$281.1 $211.8 $616.8 $374.8  (1) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.
(2) Includes depreciation within general and administrative expenses.

Adjusted Net Earnings Attributable to Shareholders

Our reconciliation of adjusted net earnings (loss) and adjusted net earnings (loss) per share to net earnings (loss) from continuing operations attributable to shareholders of the Company, the most directly comparable IFRS measure, is presented below.

 Q2 2026Q2 2025YTD 2026YTD 2025Net earnings attributable to shareholders of the Company(1)$172.8 $139.0 $309.2 $211.0 Loss (gain) on foreign exchange translation of deferred tax balances 15.8  (22.8) 34.1  (26.3)Decrease (increase) in fair value of redemption option derivatives 1.5  (7.3) 7.3  (7.9)Realized loss on gold and copper derivative instruments 97.6  —  97.6  — Unrealized (gain) loss on derivative instruments (116.6) (18.7) (96.6) 44.7 Acquisition and integration costs 13.1  —  20.8  — Gain on deferred tax due to changes in tax rates (47.4) —  (47.4) — Tax recovery on recognition of deferred tax asset —  —  —  (73.5)Discount on sale of marketable securities —  —  (0.1) 5.1 Gain on sale of mining licenses —  —  —  (6.5)Share of loss from associate 0.2  —  0.4  — Tax effect on adjustments (0.2) —  (0.2) — Total adjusted net earnings$136.7 $90.1 $325.0 $146.5 Weighted average shares outstanding (thousands) 251,453  204,907  224,741  204,835 Adjusted net earnings per share ($/share)$0.54 $0.44 $1.45 $0.72  (1) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.

Reconciliation of Total Cash Costs, Total Cash Cost per Ounce Sold, AISC, and AISC per Ounce Sold to Production Costs

Our reconciliation of total cash costs, total cash costs per ounce sold, AISC, and AISC per Ounce Sold to production costs, the most directly comparable IFRS measure, is presented below.

For the three months ended June 30, 2026:

 KisladagLamaqueEfemcukuruOlympiasCorporate(3)TotalDirect operating costs$51.1 $42.4 $23.0 $43.3  $—$159.6 Transportation and selling costs 0.2  0.1  3.2  3.1  —$6.7 Inventory change(1) (17.2) (1.3) 0.2  3.0  — ($15.3)Royalty expense 7.5  3.0  12.3  11.0  —$33.8 Production costs$41.6 $44.2 $38.7 $60.3  $—$184.8 Costs allocated to by-products (1.8) (0.9) (3.3) (33.3) — ($39.4)Treatment and refining costs(2) —  —  —  1.7  —$1.7 Total cash costs$39.7 $43.3 $35.3 $28.7  $—$147.0 Corporate & allocated G&A —  —  —  —  13.4$13.4 Exploration costs —  0.1  —  —  —$0.1 Reclamation costs and amortization 1.3  0.2  0.3  0.4  —$2.3 Sustaining capital 5.6  16.1  5.7  7.6  —$35.0 All-in sustaining costs$46.7 $59.7 $41.3 $36.7 $13.4$197.8 Gold oz sold 19,389  50,060  18,345  14,897  — 102,691 Total cash costs/oz$2,050 $865 $1,926 $1,923  $—$1,432 AISC/oz$2,407 $1,192 $2,252 $2,465 $130$1,926  (1) Inventory change adjustments result from timing differences between when inventory is produced and when it is sold.
(2) Included in revenue.
(3) Excludes general and administrative expenses related to business development activities and projects. Includes share based payments expense and defined benefit pension plan expense. AISC per ounce sold has been calculated using total consolidated gold ounces sold.

For the six months ended June 30, 2026:

 KisladagLamaqueEfemcukuruOlympiasCorporate(3)TotalDirect operating costs$90.4 $80.4 $43.7 $82.4  $—$296.8 Transportation and selling costs 0.3  0.2  6.0  5.6  —$12.2 Inventory change(1) (20.3) (0.3) —  0.6  —($20.0)Royalty expense 27.9  5.6  26.6  23.8  —$83.9 Production costs$98.3 $86.0 $76.3 $112.4  $—$373.0 Costs allocated to by-products (4.9) (2.3) (7.5) (65.3) —($80.0)Treatment and refining costs(2) —  —  —  2.0  —$2.0 Total cash costs$93.4 $83.7 $68.8 $49.0  $—$294.9 Corporate & allocated G&A —  —  —  —  25.5$25.5 Exploration costs —  0.5  —  —  —$0.5 Reclamation costs and amortization 2.5  0.4  0.6  0.9  —$4.4 Sustaining capital 9.0  36.3  10.3  12.2  —$67.9 All-in sustaining costs$105.0 $120.8 $79.7 $62.2 $25.5$393.2 Gold oz sold 47,700  94,667  33,518  27,425  — 203,310 Total cash costs/oz$1,958 $884 $2,053 $1,788  $—$1,451 AISC/oz$2,201 $1,276 $2,377 $2,267 $125$1,934  (1)   Inventory change adjustments result from timing differences between when inventory is produced and when it is sold.
(2)   Included in revenue.
(3)   Excludes general and administrative expenses related to business development activities and projects. Includes share based payments expense and defined benefit pension plan expense. AISC per ounce sold has been calculated using total consolidated gold ounces sold.

For the three months ended June 30, 2025:

 KisladagLamaqueEfemcukuruOlympiasCorporate(3)TotalDirect operating costs$40.9 $35.5 $19.6 $38.5  $—$134.5 Transportation and selling costs 0.3  0.1  2.7  2.3  —$5.4 Inventory change(1) (1.8) (1.4) (0.3) (3.0) —($6.5)Royalty expense 13.3  1.9  6.5  6.9  —$28.7 Production costs$52.7 $36.1 $28.5 $44.8  $—$162.2 Costs allocated to by-products (1.4) (0.5) (1.8) (21.4) —($25.0)Treatment and refining costs(2) —  —  1.0  1.8  —$2.8 Total cash costs$51.3 $35.6 $27.7 $25.2  $—$139.9 Corporate & allocated G&A 0.4  —  0.3  —  13.0$13.7 Exploration costs —  (0.2) —  —  —($0.2)Reclamation costs and amortization 1.8  0.1  0.2  0.4  —$2.5 Sustaining capital 6.5  25.4  6.4  5.8  —$44.1 All-in sustaining costs$60.0 $60.9 $34.6 $31.4 $13.0$199.9 Gold oz sold 45,290  49,447  20,779  15,973  — 131,489 Total cash costs/oz$1,133 $721 $1,335 $1,578  $—$1,064 AISC/oz$1,324 $1,231 $1,667 $1,967 $99$1,520  (1)   Inventory change adjustments result from timing differences between when inventory is produced and when it is sold.
(2)   Included in revenue.
(3)   Excludes general and administrative expenses related to business development activities and projects. Includes share based payments expense and defined benefit pension plan expense. AISC per ounce sold has been calculated using total consolidated gold ounces sold.

For the six months ended June 30, 2025:

 KisladagLamaqueEfemcukuruOlympiasCorporate(3)TotalDirect operating costs$82.9 $66.8 $37.4 $73.0  $—$260.2 Transportation and selling costs 0.4  0.2  5.4  4.2  —$10.2 Inventory change(1) (7.0) 1.5  (1.7) (3.6) —($10.8)Royalty expense 23.9  3.3  12.2  11.5  —$50.9 Production costs$100.2 $71.9 $53.2 $85.1  $—$310.5 Costs allocated to by-products (2.9) (0.9) (3.3) (34.3) —($41.4)Treatment and refining costs(2) —  —  1.9  3.0  —$4.9 Total cash costs$97.4 $70.9 $51.9 $53.8  $—$274.0 Corporate & allocated G&A 0.7  —  0.7  —  23.5$24.9 Exploration costs —  0.4  —  —  —$0.4 Reclamation costs and amortization 3.6  0.2  0.3  0.8  —$4.9 Sustaining capital 8.8  48.1  9.4  10.7  —$76.9 All-in sustaining costs$110.4 $119.6 $62.2 $65.3  $23.5$381.1 Gold oz sold 89,628  91,652  38,569  27,903  — 247,752 Total cash costs/oz$1,086 $774 $1,345 $1,929  $—$1,106 AISC/oz$1,232 $1,305 $1,613 $2,341  $95$1,538  (1)   Inventory change adjustments result from timing differences between when inventory is produced and when it is sold.
(2)   Included in revenue.
(3)   Excludes general and administrative expenses related to business development activities and projects. Includes share based payments expense and defined benefit pension plan expense. AISC per ounce sold has been calculated using total consolidated gold ounces sold.

Reconciliations of adjustments within AISC to the most directly comparable IFRS measures are presented below.

Reconciliation of general and administrative expenses included in All-in Sustaining Costs:

 Q2 2026Q2 2025YTD 2026YTD 2025General and administrative expenses (from consolidated statement of operations)$12.1 $10.6 $23.3 $18.7 Add:    Share-based payments expense 2.8  4.2  6.4  8.5 Less:    Integration costs (1.1) —  (1.1) — Depreciation in general and administrative expenses (0.5) (0.5) (0.9) (0.9)Business development 0.5  (0.2) (1.1) (0.5)Development projects (0.6) (0.4) (1.1) (0.9)Corporate and allocated general and administrative expenses per AISC$13.4 $13.7 $25.5 $24.9 
Reconciliation of exploration and evaluation costs included in All-in Sustaining Costs:

 Q2 2026Q2 2025YTD 2026YTD 2025Exploration and evaluation expense (from consolidated statement of operations)(1)$15.0 $7.3 $24.3 $14.2 Add:    Capitalized exploration cost related to operating gold mines 0.1  (0.2) 0.5  0.4 Less:    Exploration and evaluation expenses related to non-gold mines and other sites (15.0) (7.3) (24.3) (14.2)Exploration and evaluation costs per AISC$0.1 ($0.2)$0.5 $0.4  (1) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.

Reconciliation of reclamation costs and amortization included in All-in Sustaining Costs:

 Q2 2026Q2 2025YTD 2026YTD 2025Asset retirement obligation accretion (from notes to the consolidated financial statements)(1)$1.5 $1.5 $3.0 $3.0 Add:    Depreciation related to asset retirement obligation assets 1.0  1.2  1.9  2.4 Less:    Asset retirement obligation accretion related to non-gold mines and other sites (0.2) (0.2) (0.5) (0.5)Reclamation costs and amortization per AISC$2.3 $2.5 $4.4 $4.9  (1) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.

Sustaining and Growth Capital

Our reconciliation of growth capital investment and sustaining capital expenditure at operating gold mines to additions to property, plant and equipment, the most directly comparable IFRS measure, is presented below.

 Q2 2026Q2 2025YTD 2026YTD 2025Additions to property, plant and equipment
(from segment note in the consolidated financial statements)(1)$441.3 $240.9 $759.3 $414.1 Growth and development project capital investment - gold mines (93.2) (47.0) (185.6) (85.7)Growth and development project capital investment - other (308.9) (148.8) (499.1) (248.5)Sustaining capital exploration (0.1) 0.2  (0.5) (0.4)Sustaining capitalized depreciation (3.4) —  (6.1) — Sustaining leases (0.7) (1.2) (0.2) (2.5)Sustaining capital expenditure at operating gold mines$35.0 $44.1 $67.9 $76.9  (1) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.

Average Realized Gold Price per Ounce Sold

Our reconciliation of average realized gold price per ounce sold to revenue, the most directly comparable IFRS measure, is presented below.

For the three months ended June 30, 2026:

 RevenueAdd concentrate deductions(1)Less non-gold revenueGold revenue(2)Gold oz soldAverage realized gold price per ounce soldKisladag$88.6 $—($1.8)$86.819,389$4,477Lamaque 223.4 — (0.9) 222.550,060 4,445Efemcukuru 76.8 — (3.3) 73.418,345 4,003Olympias 98.6 1.7 (33.3) 67.014,897 4,494Total consolidated$487.5$1.7($39.4)$449.7102,691$4,379 (1) Treatment charges, refining charges, penalties and other costs deducted from proceeds from gold concentrate sales.
(2) Includes the impact of provisional pricing adjustments on concentrate sales.

For the six months ended June 30, 2026:

 RevenueAdd concentrate deductions(1)Less non-gold revenueGold revenue(2)Gold oz soldAverage realized gold price per ounce soldKisladag$234.3 $—($4.9)$229.447,700$4,810Lamaque 443.0 — (2.3) 440.794,667 4,655Efemcukuru 155.4 — (7.5) 147.933,518 4,413Olympias 187.1 2.0 (65.3) 123.827,425 4,513Total consolidated$1,019.9$2.0($80.0)$941.8203,310$4,632 (1) Treatment charges, refining charges, penalties and other costs deducted from proceeds from gold concentrate sales.
(2) Includes the impact of provisional pricing adjustments on concentrate sales.

For the three months ended June 30, 2025:

 RevenueAdd concentrate deductions(1)Less non-gold revenueGold revenue(2)Gold oz soldAverage realized gold price per ounce soldKisladag$150.4 $—($1.4)$149.045,290$3,289Lamaque 164.8 — (0.5) 164.349,447 3,323Efemcukuru 70.7 1.0 (1.8) 69.920,779 3,364Olympias 65.9 1.8 (20.8) 46.815,973 2,932Total consolidated$451.7$2.8($24.5)$430.0131,489$3,270 (1) Treatment charges, refining charges, penalties and other costs deducted from proceeds from gold concentrate sales.
(2) Includes the impact of provisional pricing adjustments on concentrate sales.

For the six months ended June 30, 2025:

 RevenueAdd concentrate deductions(1)Less non-gold revenueGold revenue(2)Gold oz soldAverage realized gold price per ounce soldKisladag$279.6 $—($2.9)$276.789,628$3,087Lamaque 286.8 — (0.9) 285.991,652 3,119Efemcukuru 128.2 1.9 (3.3) 126.838,569 3,287Olympias 112.4 3.0 (33.7) 81.627,903 2,926Total consolidated$807.0$4.9($40.8)$771.1247,752$3,112 (1) Treatment charges, refining charges, penalties and other costs deducted from proceeds from gold concentrate sales.
(2) Includes the impact of provisional pricing adjustments on concentrate sales.

Free Cash Flow and Free Cash Flow Excluding Skouries and McIlvenna Bay

Our reconciliations of free cash flow and free cash flow excluding Skouries and McIlvenna Bay to net cash generated from operating activities from continuing operations, the most directly comparable IFRS measure, is presented below.

 Q2 2026Q2 2025YTD 2026YTD 2025Net cash generated from operating activities(1)$149.5 $158.2 $290.9 $288.6 Less: Cash used in investing activities (361.1) (217.2) (591.4) (222.0)Less: Proceeds from sale of mining licenses (2.0) (2.5) (2.0) (2.5)Add (less): Purchase (proceeds from sale) of marketable securities 3.1  —  (37.1) (155.1)Less: Cash received from acquisition of subsidiary (159.1) —  (159.1) — Add: Acquisition and integration costs 20.8  —  20.8  — Add: Purchase of investment in associate 14.7  —  14.7  — Free cash flow($334.1)($61.6)($463.2)($91.0)Add: Skouries cash capital expenditures 233.1  112.1  416.7  200.3 Add: McIlvenna Bay cash capital expenditures 119.2  —  119.2  — Add: Capitalized interest paid(2) 22.6  10.9  31.1  20.0 Free cash flow excluding Skouries and McIlvenna Bay$40.9 $61.5 $103.8 $129.4  (1) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.
(2) Includes interest from the Senior Notes, the Term Facility and the Sprott Credit Facility.

Cash Flow from Operating Activities before Changes in Working Capital

Our reconciliation of cash flow from operating activities before changes in working capital to net cash generated from operating activities from continuing operations, the most directly comparable IFRS measure, is presented below.

 Q2 2026Q2 2025YTD 2026YTD 2025Net cash generated from operating activities(1)$149.5 $158.2$290.9 $288.6(Less) add: Changes in non-cash working capital (46.4) 43.8 (0.7) 49.9Cash flow from operating activities before changes in workingcapital$103.1 $202.0$290.2 $338.5 (1) 2025 amounts presented are from continuing operations only and exclude the Romania segment which was carried as a discontinued operation and disposed in Q4 2025.

Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “estimate”, “expect”, "focus", “forecast”, “foresee”, “future”, “goal”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “potential”, “project”, “prospective”, “schedule”, “strive”, “target”, “underway”, "working" or the negatives thereof or variations of such words and phrases or similar words or statements that certain actions, events or results “can”, “could”, "likely", "may", “might”, “will” or "would" be taken, occur or be achieved.

Forward-looking statements or information contained in this news release include, but is not limited to, statements or information with respect to: the Company’s 2026 annual production guidance (both for the Company and by material property) and relative production through the year; cost guidance (including expected total cash costs and average AISC); expected changes to Eldorado's management team and Board and the timing in relation thereto; the payment of regular quarterly dividends under our dividend program, including the third quarter dividend payable date; expected mine life; with respect to Skouries: our expectation of first concentrate production in Q3 and commercial production in Q4 2026; our expectations that we are in the final process with other counterparties to conclude concentrate agreements covering production through 2029; projected gold production and copper production; expected project capital and accelerated operational capital and the timing thereof; our belief that we are well positioned for start up, including our expectations of our ore stockpile to provide the ore feed required through 2026 and support a lower-risk commissioning and first year of production; our expectation that open pit and underground ore mining will continue for the balance of 2026 and will be blended to maximize cash flow with lower value ore being stockpiled for future years; expected progress on construction activities and commissioning activities; expected timing and development of test stopes; expected total workforce and our expectation of labour resources; and expected completion of job familiarization training at both the Skouries and Olympias sites; with respect to Kisladag: our evaluation of a pit shell and expected benefits thereof, and our expectation of increased waste stripping; our expectations and progress of the whole ore agglomeration circuit, including expectations to increase permeability and reduce leach time; expected timing of commissioning and ramp-up; expectations of an investment decision on the additional screening from the geometallurgical study and timing thereof; and our expectations of the mine optimization plan; with respect to Olympias: expected completion of the 650 ktpa expansion by the end of 2026 and anticipated ramp-up in the first quarter of 2027; with respect to McIlvenna Bay: our expectations that operation is ramping up toward commercial production later in the third quarter; our expectations that the mine is expected to have a long life and is supported by a robust resource base, with highly prospective exploration upside across the broader district, including the nearby Tesla Zone; expected costs and capital expenditures; operating and ramp-up activities, and progress thereof; expectations of initial Mineral Resource for Tesla and an updated Technical Report, and expected timing thereof; our expectations relating to jurisdiction and infrastructure and benefits thereof; integration of McIlvenna Bay; expectations of a study to evaluate an expansion of the processing facility and benefits thereof; expected commissioning of the silver-lead circuit and timing thereof; our view of the district-scale geological potential to deliver future satellite development opportunities; and our exploration program, core scanning programs, and geophysical surveys; the date of the conference call on July 31, 2026; and generally our strategy, plans and goals, including our proposed exploration, development, construction, permitting, financing and operating potential, plans and priorities and related timelines and schedules.

Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance, or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning, among other things: timing, costs and results of our construction and development activities, improvements and exploration, including at the Skouries Project, the McIlvenna Bay Project and our other operating mines and development projects; the current or future price of gold, copper and other commodities; the availability of financing for our exploration, development and operating activities and our ability to access existing project funding and remain in compliance with all covenants and contractual commitments related thereto; the geopolitical, economic, permitting and legal climate that we operate in, including recent disruptions to shipping operations in the Strait of Hormuz and Red Sea and any related shipping delays, shipping price increases, or impacts on the global energy market; availability of labour resources, including for construction, development and improvements activities; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom; general business and economic conditions, including interest rates, inflation, commodity and power prices, credit and financial market conditions and the impact of foreign exchange rates and tax rates and related frameworks; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to develop, finalize and execute on our updated five-year strategic plan through 2030; acts of governments and the outcome of any legal or regulatory proceedings or other disputes that we may be involved in; our ability to continue to make purchases under our normal course issuer bid and to pay dividends; the impact of acquisitions, dispositions, suspensions or delays on our business; our ability to manage and mitigate the risks associated with our use of technology and artificial intelligence; the expected vesting and redemption outcomes under our compensation securities; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables; the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the effectiveness of our hedging programs; and our ongoing relations with regulators, communities, and our partners.

More specifically, with respect to the Skouries Project and updates, we have made additional assumptions regarding: our ability and our contractors’ ability to recruit and retain labour resources within the required timeline; labour productivity, rates, and expected hours; inflation rates; the expected scope of project management frameworks; our ability to continue executing our plans relating to the Skouries Project on the estimated existing project timeline and consistent with the current planned project scope; the timeliness of shipping for important or critical items; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; our ability to obtain and maintain all required approvals and permits, both overall and in a timely manner; our ability to obtain the requisite inspections and approvals for energization of the power supply from the power authority in a timely manner; the absence of further previously unidentified archaeological discoveries which would delay construction of various portions of the project; the future price of gold, copper, and other commodities; and the broader community engagement and social climate in respect of the Skouries Project.

In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: commodity price risk; construction and development risks at the Skouries Project, the McIlvenna Bay Project and our other construction and development projects; changing political, economic and social conditions, including changes in governments or political systems, ongoing market uncertainty and global or regional geopolitical events, conflicts or disruptions; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom on the timelines expected or at all; delays and risks relating to surface construction, commissioning activities, ramp-up, and commercial production at McIlvenna Bay; our ability to obtain reliable supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables, including risks from volatility and inflationary pressures as a result from the ongoing international conflict in Iran; inflation risk; risks related to fluctuations in the currency markets, including the Euro, Turkish lira, Canadian dollar and United States dollar; community relations and social license; environmental matters; geotechnical and hydrogeological structures, conditions or failures, including our ability to completely understand such structures and to mitigate such conditions or failures at a reasonable cost or at all; regulatory requirements as they relate to mine plan approvals; compliance with the Extractive Sector Transparency Measures Act (Canada); waste disposal; mineral tenure; permits, licenses and other authorizations; non-governmental organizations; reputational issues; climate change, including risks related to forest fires and water management; water collection, treatment and disposal operations at our mines, including the ability to manage unexpectedly large quantities of water; risk of spills or failure from our tailings operations (including circumstances beyond our control such as extreme weather, seismic events, prolonged droughts or heavy rainfall); environmental risks from our heap leaching operations, including hazardous materials management of our use of cyanide; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of Mineral Reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic or similar public health threats; regulated substances; acquisitions, including integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness, including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings; total cash costs per ounce and all in sustaining costs, including in relation to the market price of gold and the Company’s profitability; interest rate risk; credit risk; tax matters; financial reporting, including relating to the carrying value of our assets and changes in reporting standards; the global economic environment; labour risks (availability of labour resources, including for construction, development and improvements activities, and their productivity; and risks relating to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates and contractors, reclamation and long-term obligations); turnover and attrition rates of labour, and related impacts thereto; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks related to title and surface rights; risks relating to environmental, sustainability, health and safety, and governance matters; technology and cybersecurity risks; corruption, bribery, and sanctions; litigation and contracts; conflicts of interest; compliance with applicable laws, legislation and regulations; dividends; tariffs and other trade barriers; and those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

With respect to the Skouries Project, these risks, uncertainties and other factors may cause further delays in the completion of the construction and commissioning at the Skouries Project which in turn may cause delays in the commencement of production, and further increase to the costs of the Skouries Project. The specific risks, uncertainties and other factors include, among others: our ability, and the ability of our construction contractors to recruit the required number of personnel (both skilled and unskilled) with required skills within the required timelines, and to manage changes to workforce numbers through the construction of the Skouries Project; our ability to recruit personnel having the requisite skills, experience, and ability to work on site; our ability to efficiently manage the transitions from construction to commission to operations; our ability to increase productivity by, among other things, adding or modifying labour shifts; rising labour costs or costs of key inputs such as materials, power and fuel; risks related to any unanticipated critical equipment defects or failures during the commissioning and ramp-up of operations; risks related to third-party contractors, including reduced control over aspects of the Company's operations, and/or the ability of contractors to perform at required levels and according to baseline schedules and any commercial disputes that may arise from a contractor’s failure to meet these requirements; the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality; impacts to overhead costs related to the schedule; our ability to construct key infrastructure within the required timelines, including the process plant, filter plant, substation, waste management facilities, embankments, tailings conveyors, water management infrastructure, and control centre; the timely receipt of necessary permits and authorizations; differences between projected and actual degree of pre-strip required in the open pit; variability in metallurgical recoveries and concentrate quality due to factors such as extent and intensity of oxidation or presence of transition minerals; presence of additional structural features impacting hydrological and geotechnical considerations; variability in minerals or presence of substances that may have an impact on filtered tails performance and resulting bulk density of stockpiles or filtered tails; distribution of sulfides that may dilute concentrate and change the characteristics of tailings; unexpected disruptions to operations due to protests, non-routine regulatory inspections, road conditions, or labour unrest; unexpected inclement weather and climate events, including wildfires, short and long duration rainfall and floods and other extreme weather events; our ability to meet pre-commercial producing mining or underground development targets; unexpected results from underground stopes; new archaeological discoveries requiring the completion of a regulatory process; changes in support from local communities; and our ability to meet the expectations of communities, governments, and stakeholders related to the Skouries Project. Our project capital and accelerated operational capital costs at Skouries are incurred primarily in Euros but are reported in US dollars and are therefore sensitive to fluctuations in the EUR/USD exchange rate.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.

Qualified Persons and Disclosure of Mineral Resources

Except as otherwise noted, Simon Hille, FAusIMM, Executive Vice President and Chief Operating Officer, is the Qualified Person under NI 43-101 responsible for preparing and supervising the preparation of the scientific and technical information contained in this news release and verifying the technical data disclosed in this document relating to our operating mines and development projects.

Jessy Thelland, géo (OGQ No. 758), a member in good standing of the Ordre des Géologues du Québec, is the qualified person as defined in NI 43-101 responsible for, and has verified and approved, the scientific and technical disclosure contained in this news release for the Quebec projects.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

Eldorado Gold Corporation
Condensed Consolidated Interim Statements of Financial Position
     As at June 30, 2026 and December 31, 2025
(Unaudited – in thousands of U.S. dollars)      Note June 30, 2026 December 31, 2025ASSETS     Current assets     Cash and cash equivalents  $554,562  $869,356 Accounts receivable and other5  207,797   279,212 Inventories6  415,636   297,165 Current derivative assets17  1,356   2,051     1,179,351   1,447,784 Deferred tax assets   48,167   37,076 Other assets7  104,514   144,479 Investment in associate   123,799   109,423 Non-current derivative assets17  5,970   10,380 Property, plant and equipment   8,251,616   4,885,564 Goodwill4  538,772   92,591    $10,252,189  $6,727,297 LIABILITIES & EQUITY     Current liabilities     Accounts payable and accrued liabilities  $651,735  $630,310 Current portion of lease liabilities   5,372   6,024 Current portion of debt8  231,749   47,968 Current portion of asset retirement obligation   6,610   7,886 Current derivative liabilities17  2,502   96,879     897,968   789,067 Debt8  1,518,164   1,227,084 Lease liabilities   7,850   8,575 Employee benefit plan obligations   14,595   13,747 Asset retirement obligations   144,287   135,071 Non-current derivative liabilities17  8,669   16,254 Deferred income tax liabilities   796,229   254,420     3,387,762   2,444,218 Equity     Share capital13  5,695,878   3,341,760 Shares held in trust for restricted share units13  (19,087)  (16,035)Contributed surplus   2,493,742   2,537,197 Accumulated other comprehensive loss   (31,302)  (11,553)Deficit   (1,277,628)  (1,572,080)Total equity attributable to shareholders of the Company   6,861,603   4,279,289 Attributable to non-controlling interests   2,824   3,790     6,864,427   4,283,079    $10,252,189  $6,727,297  Commitments and contractual obligations (Note 16)
Events after the reporting date (Note 13(b))

Approved on behalf of the Board of Directors

(signed) Teresa Conway   Director                        (signed) George Burns    Director

Date of approval: July 30, 2026

Eldorado Gold Corporation
Condensed Consolidated Interim Statements of Operations
     For the three and six months ended June 30, 2026 and 2025
(Unaudited – in thousands of U.S. dollars except share and per share amounts)        Three months ended Six months ended   June 30, June 30, Note  2026   2025   2026   2025 Revenue         Metal sales9 $487,456  $451,724  $1,019,884  $806,969           Cost of sales         Production costs   184,788   162,158   373,001   310,469 Depreciation and amortization   54,243   65,963   108,237   126,132     239,031   228,121   481,238   436,601           Earnings from mine operations   248,425   223,603   538,646   370,368           Exploration and evaluation expenses   14,983   7,253   24,292   14,243 Mine standby costs   6,050   4,656   10,764   8,787 General and administrative expenses   12,121   10,608   23,285   18,688 Share-based payments expense14  2,827   4,183   6,434   8,545 Write-down of assets   614   2,476   1,103   5,165 Foreign exchange (gain) loss   (13,866)  18,524   (34,233)  24,808 Acquisition costs4  11,470   —   19,164   — Earnings from operations   214,226   175,903   487,837   290,132           Other income (expense)10  23,111   (3,012)  10,208   (62,739)Finance costs11  (10,166)  (669)  (24,129)  (12,913)Earnings from continuing operations before income tax   227,171   172,222   473,916   214,480 Income tax expense12  54,502   33,295   165,509   687 Net earnings from continuing operations   172,669   138,927   308,407   213,793 Net loss from discontinued operations, net of tax   —   (4,123)  —   (5,456)Net earnings for the period  $172,669  $134,804  $308,407  $208,337           Net earnings (loss) attributable to:         Shareholders of the Company   172,817   138,009   309,196   210,411 Non-controlling interests   (148)  (3,205)  (789)  (2,074)Net earnings for the period  $172,669  $134,804  $308,407  $208,337           Net earnings (loss) attributable to shareholders of the Company:         Continuing operations   172,817   138,999   309,196   210,982 Discontinued operations   —   (990)  —   (571)   $172,817  $138,009  $309,196  $210,411           Net (loss) earnings attributable to non-controlling interests:         Continuing operations   (148)  (72)  (789)  2,811 Discontinued operations   —   (3,133)  —   (4,885)   $(148) $(3,205) $(789) $(2,074)          Weighted average number of shares outstanding:         Basic13  251,453,420   204,906,884   224,740,512   204,834,871 Diluted13  253,972,129   206,960,823   227,547,127   206,734,858           Net earnings per share attributable to shareholders of the Company:         Basic earnings per share  $0.69  $0.67  $1.38  $1.03 Diluted earnings per share  $0.68  $0.67  $1.36  $1.02           Net earnings per share attributable to shareholders of the Company - Continuing operations:         Basic earnings per share  $0.69  $0.68  $1.38  $1.03 Diluted earnings per share  $0.68  $0.67  $1.36  $1.02  Eldorado Gold Corporation
Condensed Consolidated Interim Statements of Comprehensive Income     For the three and six months ended June 30, 2026 and 2025
(Unaudited – in thousands of U.S. dollars)        Three months ended Six months ended   June 30, June 30,    2026   2025   2026   2025           Net earnings for the period  $172,669  $134,804  $308,407  $208,337 Other comprehensive (loss) income:         Items that will not be reclassified to earnings or loss:         Change in fair value of investments in marketable securities   (85)  7,418   195   29,937 Income tax recovery (expense) on change in fair value of investments in marketable securities   14   (985)  (31)  (4,006)Actuarial (loss) gain on employee benefit plans   (425)  235   (228)  420 Income tax recovery (expense) on employee benefit plans   102   (57)  55   (101)Total other comprehensive (loss) income for the period   (394)  6,611   (9)  26,250 Total comprehensive income for the period  $172,275  $141,415  $308,398  $234,587           Total comprehensive income (loss) attributable to:         Shareholders of the Company   172,423   144,620   309,187   236,661 Non-controlling interests   (148)  (3,205)  (789)  (2,074)   $172,275  $141,415  $308,398  $234,587  Eldorado Gold Corporation
Condensed Consolidated Interim Statements of Cash Flows     For the three and six months ended June 30, 2026 and 2025
(Unaudited – in thousands of U.S. dollars)        Three months ended Six months ended   June 30, June 30, Note  2026   2025   2026   2025 Cash flows generated from (used in):         Operating activities         Net earnings from continuing operations  $172,669  $138,927  $308,407  $213,793 Adjustments for:         Depreciation and amortization   54,699   66,415   109,147   127,032 Finance costs11  10,166   669   24,129   12,913 Interest income10  (5,399)  (8,964)  (13,093)  (17,221)Share of loss from associate   219   —   355   — Unrealized foreign exchange (gain) loss   (8,176)  18,122   (28,248)  24,685 Income tax expense12  54,502   33,295   165,509   687 Loss (gain) on disposal of assets   219   229   611   (7,059)Unrealized (gain) loss on derivative contracts10  (116,636)  (18,740)  (96,599)  44,650 Write-down of assets   614   2,476   1,103   5,165 Share-based payments expense14  2,827   4,183   6,434   8,545 Employee benefit plan expense   1,234   1,087   2,318   2,101     166,938   237,699   480,073   415,291 Property reclamation payments   (1,217)  (1,609)  (2,395)  (2,404)Employee benefit plan payments   (602)  (369)  (1,065)  (789)Income taxes paid   (67,371)  (42,705)  (199,486)  (90,820)Interest received   5,399   8,964   13,093   17,221 Changes in non-cash operating working capital15  46,395   (43,813)  715   (49,921)Net cash generated from operating activities of continuing operations   149,542   158,167   290,935   288,578 Net cash generated from operating activities of discontinued operations   —   118   —   309 Investing activities         Additions to property, plant and equipment   (469,607)  (191,195)  (780,914)  (349,690)Capitalized interest paid   (22,626)  (10,904)  (31,064)  (20,020)Cash from acquisition of Foran Mining Corporation, net of cash paid4  159,110   —   159,110   — Proceeds from the sale of property, plant and equipment   2,381   2,882   2,381   2,980 Purchase of investment in associate   (14,731)  —   (14,731)  — Value added taxes related to mineral property expenditures, net   (9,207)  (14,357)  44,716   (1,051)(Purchase of) sale of investments in marketable securities   (3,121)  —   37,072   155,078 Increase in deposits and other investments   (3,343)  (3,650)  (8,009)  (9,266)Net cash used in investing activities of continuing operations   (361,144)  (217,224)  (591,439)  (221,969)Financing activities         Issuance of common shares for cash, net of share issuance costs   1,757   5,214   3,791   7,527 Net distributions to non-controlling interests   —   (317)  (177)  (317)Proceeds from Term Facility - Commercial loans and RRF loans8  —   180,610   —   180,610 Proceeds (repayments) from Term Facility - VAT Facility8  —   11,789   (35,757)  9,155 Proceeds from Term Facility - Overrun Facility8  68,364   —   68,364   — Proceeds from Credit Facility8  100,000   —   100,000   — Proceeds on Equipment Finance Facility, net of repayments8  2,686   —   2,686   — Term Facility commitment fees   (474)  (1,372)  (474)  (1,372)Dividends paid   (19,588)  —   (34,484)  — Interest paid   (5,524)  (1,965)  (15,446)  (10,427)Principal portion of lease liabilities   (1,314)  (1,180)  (2,529)  (2,526)Purchase of shares for cancellation13  —   (44,588)  (83,895)  (44,588)Purchase of shares held in trust for restricted share units13  (4,191)  (2,416)  (8,683)  (4,226)Net cash generated from (used in) financing activities of continuing operations   141,716   145,775   (6,604)  133,836 Effect of exchange rates on cash and cash equivalents   (5,276)  13,712   (7,686)  21,330 Net (decrease) increase in cash and cash equivalents   (75,162)  100,548   (314,794)  222,084 Cash and cash equivalents - beginning of period   629,724   978,142   869,356   856,797 Change in cash in disposal group held for sale   —   (118)  —   (309)Cash and cash equivalents - end of period  $554,562  $1,078,572  $554,562  $1,078,572  Eldorado Gold Corporation
Condensed Consolidated Interim Statements of Changes in Equity    For the three and six months ended June 30, 2026 and 2025
(Unaudited – in thousands of U.S. dollars)      Three months ended Six months ended  June 30, June 30, Note 2026   2025   2026   2025 Share capital        Balance beginning of period $3,303,820  $3,442,250  $3,341,760  $3,433,778 Shares issued upon exercise of share options  1,750   6,098   3,791   8,411 Shares issued upon exercise of performance share units  3,086   —   3,086   5,282 Shares issued upon acquisition of Foran Mining Corporation4 2,385,625   —   2,385,625   — Transfer of contributed surplus on exercise of options  962   2,307   1,666   3,184 Shares repurchased and cancelled, net of tax  635   (26,405)  (40,050)  (26,405)Share issuance costs  —   (811)  —   (811)Balance end of period13$5,695,878  $3,423,439  $5,695,878  $3,423,439          Shares held in trust for restricted share units        Balance beginning of period $(16,364) $(12,965) $(16,035) $(12,970)Shares purchased and held in trust for restricted share units  (4,191)  (2,416)  (8,683)  (4,226)Shares released for settlement of restricted share units  1,468   6,219   5,631   8,034 Balance end of period13$(19,087) $(9,162) $(19,087) $(9,162)         Contributed surplus        Balance beginning of period $2,492,674  $2,607,605  $2,537,197  $2,612,762 Shares repurchased and cancelled  —   (19,074)  (42,907)  (19,074)Share-based payment arrangements  3,488   3,042   6,739   5,859 Option consideration on acquisition of Foran Mining Corporation4 3,096   —   3,096   — Shares redeemed upon exercise of restricted share units  (1,468)  (6,219)  (5,631)  (8,034)Shares redeemed upon exercise of performance share units  (3,086)  —   (3,086)  (5,282)Transfer to share capital on exercise of options  (962)  (2,307)  (1,666)  (3,184)Balance end of period $2,493,742  $2,583,047  $2,493,742  $2,583,047          Accumulated other comprehensive (loss) income        Balance beginning of period $(30,463) $(27,681) $(11,553) $56,183 Other comprehensive (loss) income for the period attributable to shareholders of the Company  (394)  6,611   (9)  26,250 Reclassification on derecognition of investments in marketable securities  (445)  —   (19,740)  (103,503)Balance end of period $(31,302) $(21,070) $(31,302) $(21,070)         Deficit        Balance beginning of period $(1,431,302) $(2,017,258) $(1,572,080) $(2,193,163)Dividends paid  (19,588)  —   (34,484)  — Net earnings attributable to shareholders of the Company  172,817   138,009   309,196   210,411 Reclassification on derecognition of investments in marketable securities  445   —   19,740   103,503 Balance end of period $(1,277,628) $(1,879,249) $(1,277,628) $(1,879,249)Total equity attributable to shareholders of the Company $6,861,603  $4,097,005  $6,861,603  $4,097,005          Non-controlling interests        Balance beginning of period $2,972  $(7,012) $3,790  $(8,143)Loss attributable to non-controlling interests  (148)  (3,205)  (789)  (2,074)Net distributions to non-controlling interests  —   (317)  (177)  (317)Balance end of period $2,824  $(10,534) $2,824  $(10,534)Total equity $6,864,427  $4,086,471  $6,864,427  $4,086,471  ______________________
(1) These financial measures or ratios are non-IFRS financial measures or ratios. Certain additional disclosure for non-IFRS financial measures and ratios have been incorporated by reference and additional detail can be found at the end of this news release and in the section 'Non-IFRS and Other Financial Measures and Ratios' in the Company's June 30, 2026 MD&A.
(2) See the section "Financial Condition and Liquidity" in the Company's June 30, 2026 MD&A.
(3) Gold equivalent ounces: Calculated by converting copper pounds produced into gold equivalent using budgeted commodity prices for the relevant period: 2026-2027: $4,000/oz gold and $5.00/lb copper; 2029 and beyond: $3,000/oz gold and $4.50/lb copper.
(4) See the section "Financial Condition and Liquidity - Financing Activities" in the Company's June 30, 2026 MD&A.
(5) These financial measures or ratios are non-IFRS financial measures or ratios. Certain additional disclosure for non-IFRS financial measures and ratios have been incorporated by reference and additional detail can be found at the end of this news release and in the section 'Non-IFRS and Other Financial Measures and Ratios' in the Company's June 30, 2026 MD&A.

Please see the condensed consolidated interim financial statements dated June 30, 2026 for notes to the accounts.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/5f9ca339-f82a-48d3-8a3a-d0ce431b1de4

https://www.globenewswire.com/NewsRoom/AttachmentNg/4c69f139-a3b0-4969-bf07-f8aaf49c516e

https://www.globenewswire.com/NewsRoom/AttachmentNg/08be0b6d-fb7f-47b9-ae75-f5fba81ef441

https://www.globenewswire.com/NewsRoom/AttachmentNg/bce4b385-44f2-4d01-a1c7-7311c70ef9f7

https://www.globenewswire.com/NewsRoom/AttachmentNg/0744814d-9f81-4864-8c2d-3fa35bf6436c

https://www.globenewswire.com/NewsRoom/AttachmentNg/cd0b276f-6b86-4a2a-abf1-6123dedca992

https://www.globenewswire.com/NewsRoom/AttachmentNg/d7b2acb9-4b2c-4133-ab82-36e32db3db79

https://www.globenewswire.com/NewsRoom/AttachmentNg/07e42c13-c278-4ad5-ad0e-22ff6d505dfb

Dan Myerson appointed Chair and Patrick Godin appointed Lead Independent Director July 30, 2026 17:02 ET  | Source: Eldorado Gold Corporation

VANCOUVER, British Columbia, July 30, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) today announced the completion of the Board of Directors leadership transition process previously outlined by the Company.

Effective today, Steven Reid has stepped down as Chair and from the Board after more than five years as Chair and 13 years of service as a director. The Board has appointed Dan Myerson as Chair of the Board and Patrick Godin as Lead Independent Director. The appointments form part of the Board's ongoing and previously announced succession and renewal process and support continuity in governance as Eldorado advances through a period of significant growth.

"On behalf of the Board and management team, I would like to thank Steve for his leadership, strategic guidance and dedication to Eldorado over the past 13 years," said George Burns, Chief Executive Officer. "As Chair, Steve has helped guide the Company through a transformative period, including the advancement of Skouries, the acquisition of Foran and McIlvenna Bay, and the development of a strong governance framework that positions Eldorado for continued success."

"Dan and Patrick bring a highly complementary combination of strategic, operational and governance experience," added Mr. Burns. "Dan has a deep understanding of our business, growth projects and long-term value creation opportunities, while Patrick contributes more than four decades of operational and leadership experience in the mining industry. Together, they will provide strong support and oversight as we enter the next phase of Eldorado's growth."

Mr. Myerson joined Eldorado's Board following the acquisition of Foran Mining Corporation and has served as Deputy Chair since that time. A mining entrepreneur, he most recently served as Chief Executive Officer and Executive Chair of Foran, where he led the development of the McIlvenna Bay Project and helped establish the company as one of the sector's leading growth stories. Prior to Foran, he held senior roles with Glencore's Canadian zinc business and global trading group.

"I look forward to serving as Chair at this important time in Eldorado's evolution," said Mr. Myerson. "With Skouries nearing commercial production, McIlvenna Bay ramping up operations, a strong portfolio of growth opportunities across the business and some of the longest mine lives and progress towards the lowest costs in the global critical minerals and precious metals sectors, Eldorado is positioned to maximize value per share and create incredible value for owners and stakeholders. I look forward to working closely with Patrick and my fellow directors as we continue to support management's focus on disciplined execution, operational excellence and responsible growth and long-term shareholder value creation.”

Mr. Godin brings more than 40 years of mining industry experience and has held executive leadership positions spanning mine construction, operations, safety performance and corporate growth initiatives. His extensive operational experience provides valuable insight as Eldorado continues to advance and optimize its portfolio of assets.

As Lead Independent Director, Mr. Godin will support effective Board governance and serve as a key liaison among the independent directors, the Chair and management.

About Eldorado Gold
Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Türkiye, 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “estimate”, “expect”, “focus", “forecast”, “foresee”, “future”, “goal”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “potential”, “project”, “prospective”, “schedule”, “strive”, “target”, “underway”, "working" or the negatives thereof or variations of such words and phrases or similar words or statements that certain actions, events or results “can”, “could”, "likely", "may", “might”, “will” or "would" be taken, occur or be achieved.

Forward-looking statements or information contained in this news release include, but is not limited to, statements or information with respect to: expected benefits and responsibilities in relation to changes of the Board; our ongoing succession and renewal process and expected benefits thereto; expectations of Skouries nearing commercial production and McIlvenna Bay ramping up operations; expectations of mine lives and low costs; expectations that we have a strong portfolio of growth opportunities and that we are well positioned to maximize value and create value for owners and stakeholders; and generally, Eldorado’s strategy, focus, plans, goals and priorities.

Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance, or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning, among other things: timing, costs and results of our construction and development activities, improvements and exploration, including at the Skouries Project, the McIlvenna Bay Project and our other operating mines and development projects; and general market conditions, including prevailing market prices of our common shares and other available investment and business opportunities. In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: commodity price risk; construction and development risks at the Skouries Project, the McIlvenna Bay Project and our other construction and development projects; general market conditions, including prevailing market prices of our common shares, and other available investment and business opportunities; and those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.

VANCOUVER, British Columbia, July 20, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) is pleased to provide an update on progress at its Skouries copper-gold project in Northern Greece. Skouries is in the final stages of construction and has entered the commissioning phase, with first ore now processed through the crushing circuit. The Company continues to target first production of copper-gold concentrate in the third quarter of 2026 and commercial production targeted for the fourth quarter of 2026, subject to completion of final site energization, integrated commissioning and ramp-up activities.

Highlights

First ore crushed. First ore has been fed through the commissioned crushing circuit, an important demonstration that front-end processing is operating as expected.Commissioning continues across the site. Wet and dry commissioning activities are progressing across the crushing, grinding, flotation, concentrate handling, and tailings circuits, with systems being handed over from construction to the combined commissioning and operations team on a staged basis.
Final site energization remains subject to Greek power authority completion of testing. The final transmission tower has been installed following a coordinated and successful eight-hour power outage on the transmission line. Full site energization remains contingent on final inspection by the relevant Greek authority and receipt of final sign-off. To support commissioning readiness and ongoing process plant activities while final site energization progresses, the Company has proactively added additional gensets to provide interim power as required.Ore stockpile of approximately 3.9 million tonnes. Open pit mining continues to run ahead of schedule, building a run-of-mine stockpile of approximately 3.4 million tonnes to support a steady ramp-up of the plant. Including ore from the underground, total stockpiles have reached approximately 3.9 million tonnes. This stockpile is expected to provide the ore feed required through 2026 and supports a lower-risk commissioning and first year of production. “Crushing first ore is an important milestone for Skouries and reflects the steady, safe progress being made by our team as the project moves through the final stages of construction and staged commissioning,” said George Burns, Chief Executive Officer. “While final site energization remains subject to final inspection and sign-off by the Greek power authority, we are taking proactive steps to maintain momentum, including adding the supplemental generators to support commissioning readiness and activities within the process plant. Full integrated operation of the process plant will require final site energization, and our focus remains on completing the remaining steps safely and methodically as we work toward first concentrate in the third quarter.” 

First Ore Through the Crushing Circuit

First ore has been fed through the commissioned crushing circuit, with ore now being processed as part of staged commissioning. Full handover of the crushing circuit from the commissioning team to the operations team is currently underway. The Company expects to introduce ore to the grinding and flotation circuits as those systems are progressively commissioned, building toward first copper-gold concentrate production in the third quarter of 2026.

A video showing ore being processed through the primary crusher conveyed to the coarse ore stockpile can be found here: Skouries - Crushed Ore.

Crushed ore conveyed from the primary crusher to the coarse ore stockpile

Power and Energization

Power infrastructure construction at Skouries has continued to advance and construction of all 12 towers and conductors is now complete. A coordinated, successful eight-hour power outage on the transmission line enabled installation of the final transmission tower. Initial tests of the sub-station have been completed by a third-party testing group. Final site energization remains contingent on inspection, final testing and installation of metering equipment by the relevant Greek authority and receipt of final sign-off. 

In the interim, Eldorado has proactively added additional gensets to support commissioning activities and maintain progress where practical, including readiness and commissioning activities within the process plant. Full operation of major process plant systems, crushing, grinding, flotation, concentrate handling and tailings disposal, requires final site energization by the power authority.

Final transmission tower

Main substation

Commissioning

Commissioning is progressing on a staged basis across multiple areas at Skouries. Dry, wet and hot commissioning activities are advancing where practical through the crushing, grinding, flotation, concentrate handling and filtered tailings circuits. Individual systems are being tested, verified against design parameters and handed over from the construction team to the operations team in a sequenced manner. 

The Company will continue to advance commissioning of remaining circuits as it works toward integrated plant operation and first concentrate production. 

Mining and Ore Stockpiling

Open pit mining at Skouries continues to perform ahead of schedule. The Company has established an ore stockpile of approximately 3.9 million tonnes, with approximately 3.4 million tonnes from the open-pit, providing ample feed to support a controlled and steady ramp-up of the processing plant through commissioning and into commercial production. Underground development also continues to advance in parallel. This stockpile is expected to provide the ore feed required through 2026 and supports a lower-risk commissioning and first year of production.

Qualified Person

Simon Hille, FAusIMM, Executive Vice President, Chief Operating Officer, is the Qualified Person under National Instrument 43-101 responsible for preparing and supervising the preparation of the scientific or technical information contained in this news release and for verifying the technical data disclosed in this document relating to Skouries.

About Eldorado Gold

Eldorado is a gold, copper and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “deliver”, “estimate”, “expect”, “focus", “forecast”, “foresee”, “future”, “generate”, “goal”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “potential”, “project”, “prospective”, “schedule”, “strive”, “target”, “underway”, "working" or the negatives thereof or variations of such words and phrases or similar words or statements that certain actions, events or results “can”, “could”, "likely", "may", “might”, “will” or "would" be taken, occur or be achieved.

Forward-looking statements or information contained in this news release include, but is not limited to, statements or information with respect to: expected progress of the Skouries Project; our expectations of first concentrate production and commercial production, and expected timing thereof; our belief that front-end processing is operating as expected, including our expectations to introduce ore to the grinding and flotation circuits; progress of wet and dry commissioning activities, including our expectations toward integrated plant operation; our continued addition of supplemental power to maintain commissioning momentum; expectations of final inspections and approvals; progress of open pit mining and underground development, including our expectations that our ore stockpile provides ample feed to support ramp-up of the processing plant; and generally our strategy, plans and goals, including our proposed exploration, development, construction, permitting, financing and operating potential, plans and priorities and related timelines and schedules.

Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance, or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning, among other things: timing, costs and results of our construction and development activities, improvements and exploration, including at the Skouries project, the McIlvenna Bay project and our other operating mines and development projects; the current or future price of gold, copper and other commodities; the availability of financing for our exploration, development and operating activities and our ability to access existing project funding and remain in compliance with all covenants and contractual commitments related thereto; the geopolitical, economic, permitting and legal climate that we operate in, including recent disruptions to shipping operations in the Strait of Hormuz and Red Sea and any related shipping delays, shipping price increases, or impacts on the global energy market; availability of labour resources, including for construction, development and improvements activities; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom; general business and economic conditions, including interest rates, inflation, commodity and power prices, credit and financial market conditions and the impact of foreign exchange rates and tax rates and related frameworks; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to develop, finalize and execute on our updated five-year strategic plan through 2030; acts of governments and the outcome of any legal or regulatory proceedings or other disputes that we may be involved in; our ability to continue to make purchases under our normal course issuer bid and to pay dividends; the impact of acquisitions, dispositions, suspensions or delays on our business; our ability to manage and mitigate the risks associated with our use of technology and artificial intelligence; the expected vesting and redemption outcomes under our compensation securities; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables; the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the effectiveness of our hedging programs; and our ongoing relations with regulators, communities, and our partners.

More specifically, with respect to the Skouries Project and updates, we have made additional assumptions regarding: our ability and our contractors’ ability to recruit and retain labour resources within the required timeline; labour productivity, rates, and expected hours; inflation rates; the expected scope of project management frameworks; our ability to continue executing our plans relating to the Skouries Project on the estimated existing project timeline and consistent with the current planned project scope; the timeliness of shipping for important or critical items; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; our ability to obtain and maintain all required approvals and permits, both overall and in a timely manner; our ability to obtain the requisite inspections and approvals for energization of the power supply from the power authority in a timely manner; the absence of further previously unidentified archaeological discoveries which would delay construction of various portions of the project; the future price of gold, copper, and other commodities; and the broader community engagement and social climate in respect of the Skouries Project.

In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: commodity price risk; construction and development risks at the Skouries project, the McIlvenna Bay project and our other construction and development projects; changing political, economic and social conditions, including changes in governments or political systems, ongoing market uncertainty and global or regional geopolitical events, conflicts or disruptions; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom on the timelines expected or at all; delays and risks relating to surface construction, commissioning activities, ramp-up, and commercial production at McIlvenna Bay; our ability to obtain reliable supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables, including risks from volatility and inflationary pressures as a result from the ongoing international conflict in Iran; inflation risk; risks related to fluctuations in the currency markets, including the Euro, Turkish lira, Canadian dollar and United States dollar; community relations and social license; environmental matters; geotechnical and hydrogeological structures, conditions or failures, including our ability to completely understand such structures and to mitigate such conditions or failures at a reasonable cost or at all; regulatory requirements as they relate to mine plan approvals; compliance with the Extractive Sector Transparency Measures Act (Canada); waste disposal; mineral tenure; permits, licenses and other authorizations; non-governmental organizations; reputational issues; climate change, including risks related to forest fires and water management; water collection, treatment and disposal operations at our mines, including the ability to manage unexpectedly large quantities of water; risk of spills or failure from our tailings operations (including circumstances beyond our control such as extreme weather, seismic events, prolonged droughts or heavy rainfall); environmental risks from our heap leaching operations, including hazardous materials management of our use of cyanide; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of Mineral Reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic or similar public health threats; regulated substances; acquisitions, including integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness, including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings; total cash costs per ounce and all in sustaining costs, including in relation to the market price of gold and the Company’s profitability; interest rate risk; credit risk; tax matters; financial reporting, including relating to the carrying value of our assets and changes in reporting standards; the global economic environment; labour risks (availability of labour resources, including for construction, development and improvements activities, and their productivity; and risks relating to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates and contractors, reclamation and long-term obligations); turnover and attrition rates of labour, and related impacts thereto; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks related to title and surface rights; risks relating to environmental, sustainability, health and safety, and governance matters; technology and cybersecurity risks; corruption, bribery, and sanctions; litigation and contracts; conflicts of interest; compliance with applicable laws, legislation and regulations; dividends; tariffs and other trade barriers; and those risk factors discussed in the section titled “Managing Risk” above, as well as those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

With respect to the Skouries Project, these risks, uncertainties and other factors may cause further delays in the completion of the construction and commissioning at the Skouries Project which in turn may cause delays in the commencement of production, and further increase to the costs of the Skouries Project. The specific risks, uncertainties and other factors include, among others: our ability, and the ability of our construction contractors to recruit the required number of personnel (both skilled and unskilled) with required skills within the required timelines, and to manage changes to workforce numbers through the construction of the Skouries Project; our ability to recruit personnel having the requisite skills, experience, and ability to work on site; our ability to efficiently manage the transitions from construction to commission to operations; our ability to increase productivity by, among other things, adding or modifying labour shifts; rising labour costs or costs of key inputs such as materials, power and fuel; risks related to any unanticipated critical equipment defects or failures during the commissioning and ramp-up of operations; risks related to third-party contractors, including reduced control over aspects of the Company's operations, and/or the ability of contractors to perform at required levels and according to baseline schedules and any commercial disputes that may arise from a contractor’s failure to meet these requirements; the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality; impacts to overhead costs related to the schedule; our ability to construct key infrastructure within the required timelines, including the process plant, filter plant, substation, waste management facilities, embankments, tailings conveyors, water management infrastructure, and control centre; the timely receipt of necessary permits and authorizations; differences between projected and actual degree of pre-strip required in the open pit; variability in metallurgical recoveries and concentrate quality due to factors such as extent and intensity of oxidation or presence of transition minerals; presence of additional structural features impacting hydrological and geotechnical considerations; variability in minerals or presence of substances that may have an impact on filtered tails performance and resulting bulk density of stockpiles or filtered tails; distribution of sulfides that may dilute concentrate and change the characteristics of tailings; unexpected disruptions to operations due to protests, non-routine regulatory inspections, road conditions, or labour unrest; unexpected inclement weather and climate events, including wildfires, short and long duration rainfall and floods and other extreme weather events; our ability to meet pre-commercial producing mining or underground development targets; unexpected results from underground stopes; new archaeological discoveries requiring the completion of a regulatory process; changes in support from local communities; and our ability to meet the expectations of communities, governments, and stakeholders related to the Skouries Project. Our project capital and accelerated operational capital costs at Skouries are incurred primarily in Euros but are reported in US dollars and are therefore sensitive to fluctuations in the EUR/USD exchange rate.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/c01298d4-7437-4409-8ed2-714bed5d0e22
https://www.globenewswire.com/NewsRoom/AttachmentNg/9d56a687-d3d1-47ec-9c26-f13337315f2f
https://www.globenewswire.com/NewsRoom/AttachmentNg/165e475b-3a87-402e-83c4-3420dd38d688

Eldorado Gold is rated Buy, driven by the near-completion of its transformational Skouries copper-gold project in Greece. Skouries will diversify EGO's product mix, enhance cash flow, and reduce single-commodity dependency, with commercial production targeted for Q4 2026. EGO's robust balance sheet, existing mine cash flows, and non-recourse project financing significantly mitigate execution and financial risks.

Eldorado Gold is transitioning from a mid-sized gold producer to a diversified gold-copper miner, driven by the Skouries and Mcllvenna Bay projects. EGO trades at a discount, reflecting execution risk and cautious market pricing ahead of key project milestones, despite strong gold prices and attractive margins. Skouries is a transformative asset, expected to deliver 140,000 ounces of gold and 67 million pounds of copper annually, with first concentrate in Q3 2026.

Underscores Commitment to Sustainability, Governance and Long-Term Value Creation June 23, 2026 09:42 ET  | Source: Eldorado Gold Corporation

VANCOUVER, British Columbia, June 23, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) is pleased to announce that it has been named to Corporate Knights’ Best 50 Corporate Citizens in Canada.

The annual ranking by Corporate Knights evaluates leading Canadian companies on a broad range of environmental, social and governance (“ESG”) criteria, recognizing organizations that demonstrate strong performance across sustainability, resource management, corporate governance and social impact.

“We are honored to be recognized as one of Canada’s Best 50 Corporate Citizens,” said George Burns, Chief Executive Officer. “This recognition reflects the consistent efforts of our people across our global operations to operate responsibly, prioritize safety, and deliver long-term value for our stakeholders. At Eldorado, sustainability is embedded across the business from exploration through development and operations guided by a focus on safe, inclusive workplaces, responsible production, environmental stewardship and meaningful engagement with host communities. It underscores our continued commitment to integrating responsible practices into our strategy as we advance a pipeline of long-life assets and deliver disciplined, sustainable growth.”

The Best 50 Corporate Citizens in Canada are each evaluated on a set of up to 25 environmental, social and governance indicators including board diversity, resource efficiency, financial management, sustainable revenue and sustainable investment. For more information about the Best 50 Corporate Citizens in Canada and the full rankings, visit https://corporateknights.com/rankings/best-50-rankings/.

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “deliver”, “estimate”, “expect”, “forecast”, “foresee”, “future”, “goal”, “generate”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “project”, “potential”, “prospective”, “scheduled”, “strive”, or “target” or the negatives thereof or variations of such words and phrases or similar words or statements that certain actions, events or results “can”, “could”, “likely”, “may”, “might”, “will”, or “would” be taken, occur or be achieved. Forward-looking statements or information contained in this news release include, but are not limited to, statements or information with respect to: our strategy and commitments related to responsible practices, safety and sustainability; and our expectations to advance a pipeline of long-life assets and deliver disciplined, sustainable growth.

Forward-looking statements and forward-looking information are by their nature based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control. Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information. Those risk factors are discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.

June 16, 2026 17:05 ET  | Source: Eldorado Gold Corporation

Reminds Shareholders to Vote; Proxies must be returned by 10:00 a.m. (Pacific time) on Friday, June 19, 2026

Provides Update on Board Leadership Transition

VANCOUVER, British Columbia, June 16, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) reminds its shareholders that the Company’s 2026 annual meeting of shareholders will be held at 10:00 a.m. (Pacific time) on Tuesday, June 23, 2026 in a physical and virtual hybrid format. Registered shareholders and duly appointed proxyholders may attend in person at 550 Burrard Street, Suite 2900, Vancouver, BC, V6C 0A3 or online at https://meetnow.global/MKZ9Z9W. To be valid, proxies for the meeting must be completed and returned by 10:00 a.m. (Pacific time) on Friday, June 19, 2026. The meeting represents the Company’s first annual meeting since the completion of its acquisition of Foran Mining in April 2026 and provides Eldorado’s resulting expanded shareholder base with an opportunity to engage with directors and management.

The Company is also providing an update on the status of its previously announced Board of Directors transition.  In keeping with its commitment to a responsible board succession and renewal process, Eldorado’s Board is currently advancing its leadership succession process to identify a successor to Steven Reid as Chair.  The appointment of Eldorado’s successor Chair is expected to occur no later than September 30, 2026.

For additional details about Eldorado’s upcoming annual meeting of shareholders or if shareholders have any questions or need assistance completing the form of proxy or voting instruction form, please refer to the Company’s management proxy circular dated May 7, 2026 for more information or contact Laurel Hill Advisory Group by telephone at 1 877 452 7184 toll-free in North America, or 1 416 304 0211 outside of North America, or text message by texting the word “INFO” to +1 877 452 7184 or +1 416 304 0211, or by email at [email protected].

About Eldorado Gold
Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Türkiye, 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budgets”, "committed", “continue”, “estimates”, “expects”, “focus”, “forecasts”, “foresee”, “forward”, “future”, “goal”, “guidance”, “intends”, “opportunity”, “outlook”, “plans”, “potential”, “schedule”, “strategy”, “target”, “underway”, “working” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “can”, “could”, "likely", "may", “might”, “will” or "would" be taken, occur or be achieved. Forward-looking statements and forward-looking information contained in this news release includes, but is not limited to, statements or information with respect to: the appointment of a successor Chair of the Eldorado Board and the timing thereof. Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning: the process to identify and appoint a successor Chair. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control. Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States.

Your vote is important. Vote in advance of the proxy voting deadline on Thursday, April 2, 2026 at 10:00 a.m. (Vancouver time).Shareholder questions or need voting assistance? Please contact Laurel Hill Advisory Group by email at [email protected], or by texting INFO to, or calling, 1-877-452-7184 (North American toll-free) or 1-416-304-0211 (outside North America). VANCOUVER, British Columbia, April 01, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX:ELD) (NYSE:EGO) (“Eldorado”) reminds its shareholders to vote FOR the ordinary resolution approving the issuance of common shares of Eldorado (the “Share Issuance Resolution”) in connection with the previously announced proposed plan of arrangement (the “Arrangement”) with Foran Mining Corporation (TSX:FOM, OTCQX: FMCXF) (“Foran”), and Foran reminds its securityholders to vote FOR the resolution approving the Arrangement (the “Arrangement Resolution”).

Eldorado’s special meeting of shareholders (the “Eldorado Meeting”) to consider and vote on the Share Issuance Resolution will be held in person on April 7, 2026 at 10:00 a.m. (Vancouver time) at the offices of Blake, Cassels & Graydon LLP, Suite 3500, 1133 Melville Street, The Stack, Vancouver, British Columbia.

Foran’s special meeting of securityholders (the “Foran Meeting”) to consider and vote on the Arrangement is scheduled for Tuesday, April 7, 2026 at 1:00 p.m. (Toronto time) at the offices of McCarthy Tétrault LLP located at Suite 5300, 66 Wellington Street West, Toronto, Ontario.

The Board of Directors of each of Eldorado and Foran has unanimously approved the proposed Arrangement and unanimously recommends that Eldorado shareholders vote FOR the Share Issuance Resolution and that Foran securityholders vote FOR the Arrangement Resolution, respectively.

The proposed Arrangement will bring together Eldorado’s established operating platform and financial strength with Foran’s highly attractive copper growth profile. Under the terms of the Arrangement, Foran shareholders will receive 0.1128 of an Eldorado common share plus C$0.01 in cash for each Foran common share held. Upon completion of the Arrangement, Foran will become a wholly-owned subsidiary of Eldorado.

Why Vote FOR 

The Boards of Directors of Eldorado and Foran believe the proposed arrangement is in the best interests of their respective companies and stakeholders. In recommending that Eldorado shareholders vote FOR the Share Issuance Resolution and Foran securityholders vote FOR the Arrangement Resolution, the respective boards considered and relied upon the following strategic rationale for the proposed arrangement: 

Peer-leading near-term growth: Positioned to deliver a leading growth profile, underpinned by two fully financed development projects – Skouries and McIlvenna Bay advancing toward commercial production in Q3 2026 and mid-2026, respectively. Substantial EBITDA & free cash flow: Expected to generate approximately $2.1 billion of EBITDA1 and $1.5 billion in free cash flow2 in 2027. This robust long-term cash flow will fund growth initiatives, strengthen the balance sheet and support continued shareholder returns through dividend and share buyback programs, while maintaining financial flexibility through commodity cycles. Long-life, diversified asset base: Combined portfolio delivers balanced gold-copper exposure (~77% gold, ~4% silver, ~15% copper, and ~4% other metals) across attractive mining jurisdictions in Canada, Greece, and Türkiye, providing jurisdictional and commodity diversification. Significant exploration upside: Eldorado will continue to accelerate high-value organic growth opportunities. This includes advancing Foran’s high-grade polymetallic Tesla zone as well as maximizing the exploration potential surrounding Eldorado’s existing operating and development assets. Compelling re-rate opportunity: With increased scale and trading liquidity, near-term growth and enhanced Canadian exposure the combination will support a valuation re-rate opportunity. Sustainability-focused operations: Strong alignment across sustainability principles, carbon efficient practices, and a shared commitment to responsible mining will enable the combined company to focus on transparent sustainability performance and continued advancement in GHG emissions mitigation.  Questions & Voting Assistance

Eldorado and Foran encourage all Eldorado shareholders and Foran securityholders, respectively, to vote in advance of the Eldorado Meeting and Foran Meeting, as applicable. Every vote is important, regardless of the number of securities held. The proxy voting deadline is 10:00 a.m. (Vancouver time) on Thursday, April 2, 2026.

Shareholders with questions or who require assistance in voting are encouraged to contact Eldorado’s and Foran’s proxy solicitation agent and shareholder communications advisor:

Laurel Hill Advisory Group

North American Toll-Free: 1-877-452-7184

Outside North America (Collect): 1-416-304-0211

Email: [email protected]

Shareholders may also text INFO to 1-877-452-7184 or 1-416-304-0211 for assistance.

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. Eldorado 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).

About Foran Mining

Foran is a near-term critical minerals producer, committed to supporting a greener future and empowering communities while creating value for its stakeholders. The McIlvenna Bay project is located within the documented traditional territory of the Peter Ballantyne Cree Nation, comprises the infrastructure and works related to development and exploration activities of Foran, and hosts the McIlvenna Bay Deposit and Tesla Zone.

The McIlvenna Bay Deposit is a copper-zinc-gold-silver rich deposit intended to be the centre of a new mining camp in a prolific district that has already been producing for 100 years. The McIlvenna Bay Property sits just 65 km West of Flin Flon, Manitoba, and is part of the world-class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran’s ground in eastern Saskatchewan, a distance of over 225 km.

Eldorado Gold Contacts:

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Foran Mining Contact

Investor Relations
Jonathan French, Vice President, Capital Markets & External Affairs
306-808-4051
[email protected]

1 EBITDA calculated as revenue based on public disclosure less cash operating costs based on street consensus analyst estimates as per S&P CapIQ. 

2 Based on street consensus estimates as per FactSet, calculated as operating cash flow less capex. 

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budget”, “continue”, “deliver” “estimates”, “expects”, “forecasts”, “generate” “guidance”, “intends”, “plans”, “projected” or “scheduled” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to: Eldorado and Foran’s intent to complete the Transaction and specifically Eldorado’s intent to acquire all the outstanding Foran common shares; approval of the Transaction by Eldorado shareholders and Foran securityholders; the date and time of the Eldorado shareholder meeting and the Foran securityholder meeting; management’s views on the positive impacts of the proposed Transaction and the strategic rationale for the Transaction; management’s belief that the combined entity is a re-rate opportunity; views on the life of assets; expectations of benefits from metal prices and demand for critical minerals; management’s view of the exploration potential of the combined entity; the combined company’s focus on its commitment to transparent performance and GHG mitigation; management’s belief that the combined company will be capable of organically funding sustained growth; expected weightings of the combined portfolio; expectations that the Skouries and McIlvenna Bay projects will enter into production in Q3 2026 and mid‑2026, respectively; and the expected EBITDA and free cash flow of the combined entity in 2027. Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, market uncertainties and other factors, which may cause the actual results, performance or achievements of Eldorado, Foran and the combined company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements and forward-looking information are by their nature based on a number of assumptions, that management considers reasonable. However, such assumptions involve both known and unknown risks, uncertainties, and other factors which, if proven to be inaccurate, may cause actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. These include, for Eldorado and the combined company, assumptions concerning: timing, cost and results of our construction and development activities, improvements and exploration; the future price of gold, copper and other commodities; exchange rates; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; mineral reserves and resources; our ability to effectively use invested capital and unlock potential expansion opportunities across the portfolio; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables (including fuel, explosives, cement, and cyanide); the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the use, and impact or effectiveness, of growth capital; the impact of acquisitions, dispositions, suspensions or delays on our business; the sustaining capital required for various projects; and the geopolitical, economic, permitting and legal climate that Eldorado operates in; and for Foran, these assumptions include the availability of funds for the McIlvenna Bay project; trading access and market prices related to the Eldorado common shares issuable upon completion of the Arrangement; the expected percentage ownership of former Foran securityholders of the Eldorado common shares on a non-diluted basis immediately following completion of the Arrangement; the delisting of the Foran’s common shares from the TSX and OTCQX and Foran ceasing to be a reporting issuer; success of the McIlvenna Bay Project; successful initiation of commercial production at McIlvenna Bay project and the results thereof; prices for zinc, copper, gold and silver remaining as estimated; currency exchange rates remaining as estimated; tonnage of ore to be mined and processed; ore grades and recoveries; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. In addition, except where otherwise stated, we have assumed completion of the Transaction on the contemplated timeline and, except where otherwise stated, a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements or information. These risks, uncertainties and other factors include, among others: receipt of approval from Eldorado shareholders and Foran securityholders, and the required court, regulatory and other consent and approvals to complete the Transaction; the potential of a third party making a superior proposal to the Transaction and the possibility that the Arrangement Agreement could be terminated as a result of a superior proposal; commodity price risk; development risks at Skouries and other construction and development projects including the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality and our ability to construct key infrastructure within the required timelines, and unexpected inclement weather and climate events that may delay timelines; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to secure supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables; inflation risk; community relations and social license; environmental matters; our ability to completely understand geotechnical structures, geotechnical and hydrogeological conditions or failures; regulatory requirements as they relate to mine plan approvals; waste disposal; mineral tenure; permits; non-governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of mineral reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic, or similar public health threats; regulated substances; the acquisition of Foran Mining Corporation, including timing, risks and benefits thereof; acquisitions, including integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness (including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings); total cash costs per ounce and AISC (particularly in relation to the market price of gold and Eldorado’s profitability); currency risk; interest rate risk; credit risk; tax matters; financial reporting (including relating to the carrying value of our assets and changes in reporting standards); the global economic environment; labour (including in relation to availability of labour resources, including for including for construction, development and improvements activities, and their productivity employee/union relations, the Greek transformation, employee misconduct, key personnel, skilled workforce, expatriates, and contractors); default on obligations; current and future operating restrictions; reclamation and long-term obligations; credit ratings; change in reporting standards; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks relating to environmental, sustainability, and governance practices and performance; corruption, bribery, and sanctions; employee misconduct; litigation and contracts; conflicts of interest; compliance with privacy legislation; dividends; tariffs and other trade barriers; and those risk factors discussed in Eldorado’s most recent Annual Information Form & Form 40-F. The reader is directed to carefully review the detailed risk discussion in Eldorado’s most recent Annual Information Form & Form 40-F filed on SEDAR+ and EDGAR which discussion provides a fuller understanding of the risks and uncertainties that affect Eldorado’s business and operations.

In respect of Foran, risks, uncertainties and other factors include Foran’s reliance on the McIlvenna Bay Property; Foran has a history of losses and may not be able to generate sufficient revenue to be profitable or to generate positive cash flow on a sustained basis; Foran is exposed to risks related to mineral resources exploration and development; risks related to the Arrangement, including the Arrangement not being completed, failure to realize the anticipated benefits of the Arrangement, risks related to Foran and Eldorado, the Arrangement Agreement’s restrictions on Foran and Eldorado in respect of taking certain actions, expected costs incurred in connection with the Arrangement and the diversion of Foran’s management as a result of the Arrangement, and the anticipated impacts resulting therefrom; failure to comply with covenants under Foran’s amended credit facility or its equipment finance facility may have a material adverse impact on Foran’s operations and financial condition; Foran may require additional financing and future share issuances may adversely impact share prices; Foran has no history of mineral production; uncertainties and risks relating to the McIlvenna Bay 2025 Technical Report; and the additional risks identified in Foran’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Although Foran has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, each of Eldorado and Foran does not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of Eldorado’s business contained in its respective reports filed with the securities regulatory authorities in Canada and the U.S., as applicable, and to the additional information contained in Foran’s filings with the securities regulatory authorities in Canada.

Non-IFRS Measures

This news release contains certain forward-looking non-IFRS financial measures, including earnings before interest, taxes, depreciation and amortization (“EBITDA”) and free cash flow. The historical non‑IFRS financial measures that are equivalent to such forward‑looking non‑IFRS financial measures, and the most directly comparable IFRS financial measures, together with reconciliations between such measures and explanations of their composition, are disclosed in the section entitled “Non‑IFRS and Other Financial Measures and Ratios” in the annual management discussion and analysis of Eldorado for the financial year ended December 31, 2025, which is available under Eldorado’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov and which section in incorporated by reference in this new release.

Posted by Defense World Staff on Apr 6th, 2026

Shares of Eldorado Gold Corporation (NYSE:EGO – Get Free Report) (TSE:ELD) have been assigned an average recommendation of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $43.7143.

A number of analysts have recently commented on the stock. Royal Bank Of Canada lowered shares of Eldorado Gold from an “outperform” rating to a “sector perform” rating and set a $48.00 price objective on the stock. in a research report on Tuesday, February 17th. Zacks Research lowered shares of Eldorado Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Cowen cut their price target on shares of Eldorado Gold from $47.00 to $45.00 and set a “hold” rating on the stock in a research report on Tuesday, February 24th. Canaccord Genuity Group cut Eldorado Gold from a “buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Scotiabank lowered their target price on Eldorado Gold from $59.00 to $58.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, February 25th.

Read Our Latest Report on Eldorado Gold

Eldorado Gold Stock Up 0.1% NYSE:EGO opened at $35.83 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.46 and a current ratio of 1.83. The company has a market cap of $7.12 billion, a PE ratio of 14.45, a PEG ratio of 0.15 and a beta of 0.66. Eldorado Gold has a 52-week low of $15.30 and a 52-week high of $51.16. The stock has a 50-day simple moving average of $40.70 and a 200 day simple moving average of $34.90.

Eldorado Gold (NYSE:EGO – Get Free Report) (TSE:ELD) last released its earnings results on Thursday, February 19th. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $575.14 million during the quarter, compared to the consensus estimate of $500.42 million. Eldorado Gold had a net margin of 27.89% and a return on equity of 8.63%. On average, sell-side analysts expect that Eldorado Gold will post 1.5 EPS for the current fiscal year.

Eldorado Gold Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 27th. Eldorado Gold’s dividend payout ratio (DPR) is currently 12.10%.

Institutional Investors Weigh In On Eldorado Gold Several large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in Eldorado Gold by 50.0% during the first quarter. Goldman Sachs Group Inc. now owns 798,205 shares of the basic materials company’s stock worth $13,426,000 after buying an additional 266,048 shares during the last quarter. Geode Capital Management LLC lifted its stake in Eldorado Gold by 6.0% in the second quarter. Geode Capital Management LLC now owns 113,368 shares of the basic materials company’s stock valued at $2,318,000 after acquiring an additional 6,383 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Eldorado Gold by 1,209.2% in the second quarter. JPMorgan Chase & Co. now owns 339,370 shares of the basic materials company’s stock valued at $6,903,000 after acquiring an additional 313,449 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Eldorado Gold in the 2nd quarter valued at about $1,038,000. Finally, Jump Financial LLC acquired a new position in shares of Eldorado Gold during the 2nd quarter worth about $859,000. Institutional investors and hedge funds own 69.58% of the company’s stock.

Eldorado Gold Company Profile (Get Free Report)

Eldorado Gold Corporation is a Canada‐based gold producer engaged in the acquisition, exploration, development and operation of mineral properties. The company’s core focus is on gold, silver and select base metals, with an emphasis on advancing projects through feasibility and into production. Eldorado Gold maintains a diversified portfolio of both producing mines and advanced‐stage development projects.

Operationally, Eldorado Gold manages multiple gold mining operations across Turkey, Canada and Greece.

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Strong Shareholder Support for Transaction with Foran, with Over 84% Approval April 07, 2026 14:39 ET  | Source: Eldorado Gold Corporation

VANCOUVER, British Columbia, April 07, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE American: EGO) (“Eldorado” or the “Company”) today announced the voting results from its special meeting of shareholders held on Tuesday, April 7, 2026 (the “Meeting”). Eldorado shareholders voted to approve the issuance of common shares of Eldorado in connection with the proposed plan of arrangement (the “Arrangement”) with Foran Mining Corporation (TSX: FOM, OTCQX: FMCXF) (“Foran”). 84.21% of the votes cast by the common shareholders at the Meeting were in favour of the resolution to approve the issuance of Eldorado common shares in connection with the Arrangement.

“This strong level of shareholder support marks an important milestone in progress towards completion of the Arrangement with Foran,” said George Burns, Chief Executive Officer. “The addition of McIlvenna Bay will enhance our portfolio with a high-quality, long-life Canadian asset that complements our existing operations and strengthens our position as a disciplined, growth-oriented gold and copper producer. This transaction reinforces our ability to deliver long-term value through a combination of operational expertise, a strong balance sheet, and a pipeline of high-quality growth opportunities. We look forward to satisfying the remaining closing conditions and completing the transaction for the benefit of our shareholders, employees, communities, and partners.”

The issuance of Eldorado common shares in connection with the Arrangement required approval of a simple majority of the votes cast by the holders of Eldorado Shares. A total of 149,602,115 common shares, representing 75.31% of the votes attached to all outstanding common shares, were voted at the meeting. Detailed voting results for the Meeting will be available under Eldorado’s profiles on SEDAR+ (www.sedarplus.ca) and Edgar (www.sec.gov).

As announced earlier today by Foran, shareholders of Foran voted to approve the Arrangement at the special meeting of securityholders of Foran held on April 7, 2026.

In addition to the securityholder approvals that have been obtained, the Arrangement is subject to final court approval and the satisfaction of certain other customary closing conditions for transactions of this nature. The hearing of the Supreme Court of British Columbia for the final order to approve the Arrangement is expected to take place on April 9, 2026, and Eldorado expects the Arrangement to close on or about April 14, 2026.

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budgets”, "committed", “continue”, “estimates”, “expects”, "focus", “forecasts”, "foresee", "forward", "future", "goal", “guidance”, “intends”, "opportunity", "outlook", “plans”, “potential”, "schedule", "strategy", "target", “underway”, "working" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “can”, “could”, "likely", "may", “might”, “will” or "would" be taken, occur or be achieved. Forward-looking statements and forward-looking information contained in this news release includes, but is not limited to, statements or information with respect to: Eldorado’s intent to complete the arrangement with Foran (including the expected timing thereof) and specifically Eldorado’s intent to acquire all the outstanding shares of Foran; management’s beliefs with respect to the positive impacts of adding the McIlvenna Bay asset to Eldorado’s portfolio and the strategic rationale for the transaction; the timing of the hearing of the Supreme Court of British Columbia for the final order to approve the Arrangement; and generally Eldorado’s strategy, plans and goals.

Forward-looking statements and forward-looking information are by their nature based on a number of assumptions, that management considers reasonable. However, such assumptions involve both known and unknown risks, uncertainties, and other factors which, if proven to be inaccurate, may cause actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning: the receipt of the final order approving the Arrangement from the Supreme Court of British Columbia; timing, cost and results of our construction and development activities, improvements and exploration; the future price of gold, copper and other commodities; receipt of all required permits on the timelines we expect; the global concentrate market; exchange rates; anticipated values, costs, expenses and working capital requirements; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; availability of labour resources, including for construction, development and improvements activities; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to effectively use invested capital and unlock potential expansion opportunities across the portfolio; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables (including fuel, explosives, cement, and cyanide); the impact and effectiveness of productivity initiatives; the time and cost of shipping for important or critical items for construction, development and improvements activities or necessary for anticipated overhauls of equipment; expected by-product grades; the use, and impact or effectiveness, of growth capital; the impact of acquisitions, dispositions, suspensions or delays on our business; the sustaining capital required for various projects; and the geopolitical, economic, permitting and legal climate that we operate in. In addition, except where otherwise stated, Eldorado has assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements or information. These risks, uncertainties and other factors include, among others: the required court, regulatory and other consents and approvals required to complete the Arrangement; the potential of a third party making a superior proposal to the Arrangement and the possibility the agreement governing the Arrangement could be terminated as a result of a superior proposal; commodity price risk; development risks including the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality and our ability to construct key infrastructure within the required timelines, and unexpected inclement weather and climate events that may delay timelines; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to secure supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables; inflation risk; community relations and social license; environmental matters; our ability to completely understand geotechnical structures, geotechnical and hydrogeological conditions or failures; regulatory requirements as they relate to mine plan approvals; waste disposal; mineral tenure; permits; non-governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of mineral reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic, or similar public health threats; regulated substances; the acquisition of Foran Mining Corporation, including timing, risks and benefits thereof; acquisitions, including integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness (including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings); total cash costs per ounce and AISC (particularly in relation to the market price of gold and the Company’s profitability); currency risk; interest rate risk; credit risk; tax matters; financial reporting (including relating to the carrying value of our assets and changes in reporting standards); the global economic environment; labour (including in relation to availability of labour resources, including for including for construction, development and improvements activities, and their productivity employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates, and contractors); commodity price risk; default on obligations; current and future operating restrictions; reclamation and long-term obligations; credit ratings; change in reporting standards; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks relating to environmental, sustainability, and governance practices and performance; corruption, bribery, and sanctions; employee misconduct; litigation and contracts; conflicts of interest; compliance with privacy legislation; dividends; tariffs and other trade barriers; and those risk factors discussed in our most recent Annual Information Form & Form 40-F. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Information Form & Form 40-F filed on SEDAR+ and EDGAR under our Company name, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect our business and operations.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States.

VANCOUVER, British Columbia, April 14, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX:ELD) (NYSE:EGO) (“Eldorado”) is pleased to announce the completion of Eldorado’s acquisition of all of the outstanding shares of Foran Mining Corporation (“Foran”) pursuant to a plan of arrangement (the “Transaction”).

“Closing this transaction marks an important milestone for Eldorado,” said George Burns, Chief Executive Officer. The acquisition of Foran enhances our portfolio with the addition of McIlvenna Bay a high-quality, long-life asset in a premier mining jurisdiction, further strengthening the balance and resilience of our existing asset base. McIlvenna Bay also provides Eldorado with additional exposure to copper, a recognized critical mineral, and offers exceptional exploration potential, enhancing the long‑term growth of our portfolio. We look forward to working alongside the Foran team to advance the McIlvenna Bay project responsibly and deliver sustainable, long-term value for our shareholders and stakeholders.”

With Foran now a wholly-owned subsidiary of the Company, Eldorado intends to de-list the Foran shares from the TSX and OTCQX as soon as practicable. Eldorado also intends to submit an application to the applicable securities regulators to have Foran cease to be a reporting issuer and terminate its public reporting obligations under Canadian securities laws.

Information for Former Foran Shareholders

In order to receive the Transaction consideration in exchange for their Foran shares, registered shareholders of Foran must complete, sign, date and return the letter of transmittal that was mailed to each registered Foran shareholder prior to the Effective Time. The letter of transmittal is also available under Foran’s profile on SEDAR+ at www.sedarplus.ca.

For those shareholders of Foran whose Foran shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their Foran shares and should follow the instructions of such intermediary or nominee.

Additional Information

Full details of the Arrangement are set out in the joint management information circular of Eldorado and Foran dated March 11, 2026 (the “Circular”) prepared in connection with the special meetings of Eldorado and Foran held separately on April 7, 2026 and filed on www.sedarplus.ca.

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. Eldorado 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).

About the McIlvenna Bay Project
The McIlvenna Bay project is located within the documented traditional territory of the Peter Ballantyne Cree Nation, comprises the infrastructure and works related to development and exploration activities of Foran, and hosts the McIlvenna Bay Deposit and Tesla Zone.

The McIlvenna Bay Deposit is a copper-zinc-gold-silver rich deposit intended to be the centre of a new mining camp in a prolific district that has already been producing for 100 years. The McIlvenna Bay Property sits just 65 km West of Flin Flon, Manitoba, and is part of the world-class Flin Flon Greenstone Belt that extends from Snow Lake, Manitoba, through Flin Flon to Foran’s ground in eastern Saskatchewan, a distance of over 225 km.

Contacts:

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]        

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budget”, “continue”, “deliver”, “estimates”, “expects”, “forecasts”, “generate”, “guidance”, “intends”, “plans”, “projected” or “scheduled” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to: management’s views on the impact and strategic implications of the Transaction, delisting of the Foran shares from the TSX and OTCQX; Foran ceasing to be a reporting issuer under Canadian securities laws; Eldorado’s plans and expectations for its properties and operations, including with respect to the McIlvenna Bay Project; views on the life of assets; and generally our strategy, plans, and goals. Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, market uncertainties and other factors, which may cause the actual results, performance or achievements of Eldorado to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements and forward-looking information are by their nature based on a number of assumptions that management considers reasonable. However, such assumptions involve both known and unknown risks, uncertainties, and other factors which, if proven to be inaccurate, may cause actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. These include, for Eldorado, assumptions concerning: timing, cost and results of our construction and development activities, improvements and exploration; the future price of gold, copper and other commodities; exchange rates; anticipated values, costs, expenses and working capital requirements; production and metallurgical recoveries; mineral reserves and resources; our ability to effectively use invested capital and unlock potential expansion opportunities across the portfolio; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables (including fuel, explosives, cement, and cyanide); the impact and effectiveness of productivity initiatives; the time and cost necessary for anticipated overhauls of equipment; expected by-product grades; the use, and impact or effectiveness, of growth capital; the impact of acquisitions, dispositions, suspensions or delays on our business; the sustaining capital required for various projects; and the geopolitical, economic, permitting and legal climate that Eldorado operates in. In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements and forward-looking information are subject to known and unknown risks, uncertainties and other important factors that may cause actual results, activities, performance or achievements to be materially different from those described in the forward-looking statements or information. These risks, uncertainties and other factors include, among others: commodity price risk; development risks at Skouries, the McIlvenna Bay Project and other construction and development projects including the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality and our ability to construct key infrastructure within the required timelines, and unexpected inclement weather and climate events that may delay timelines; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to secure supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables; inflation risk; community relations and social license; environmental matters; our ability to completely understand geotechnical structures, geotechnical and hydrogeological conditions or failures; regulatory requirements as they relate to mine plan approvals; waste disposal; mineral tenure; permits; non-governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of mineral reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic, or similar public health threats; regulated substances; integration risks related to the Transaction; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness (including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings); total cash costs per ounce and AISC (particularly in relation to the market price of gold and Eldorado’s profitability); currency risk; interest rate risk; credit risk; tax matters; financial reporting (including relating to the carrying value of our assets and changes in reporting standards); the global economic environment; labour (including in relation to availability of labour resources, including for construction, development and improvements activities, and their productivity employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates, and contractors); default on obligations; current and future operating restrictions; reclamation and long-term obligations; credit ratings; change in reporting standards; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks relating to environmental, sustainability, and governance practices and performance; corruption, bribery, and sanctions; employee misconduct; litigation and contracts; conflicts of interest; compliance with privacy legislation; dividends; tariffs and other trade barriers; and those risk factors discussed in Eldorado’s most recent Annual Information Form & Form 40-F. The reader is directed to carefully review the detailed risk discussion in Eldorado’s most recent Annual Information Form & Form 40-F filed on SEDAR+ and EDGAR which discussion provides a fuller understanding of the risks and uncertainties that affect Eldorado’s business and operations.

In respect of the McIIvenna Bay Project, risks, uncertainties and other factors include; McIlvenna Bay has no history of mineral production; uncertainties and risks relating to the McIlvenna Bay 2025 Technical Report; and the additional risks in relation to the McIIvenna Bay project identified in Foran’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Although Foran has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, Eldorado does not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of Eldorado’s business contained in its respective reports filed with the securities regulatory authorities in Canada and the U.S., as applicable, and to the additional information contained in Foran’s filings with the securities regulatory authorities in Canada.

Key Takeaways EGO is expected to post a 168% YoY earnings jump in Q1 2026, driven by sharply higher gold prices.Lower Q1 production, with output below last year, may weigh on volumes despite strong pricing gains.Higher royalties and labor costs are likely to lift expenses, partly offset by efficiency efforts. Eldorado Gold Corporation (EGO - Free Report) is slated to report first-quarter 2026 results on April 30, after market close. The company is expected to post a strong year-over-year earnings increase, supported by a sharp rise in gold prices.

The Zacks Consensus Estimate for EGO’s first-quarter 2026 earnings has moved down 31.8% over the past 60 days to 75 cents per share. Despite the revision, the consensus mark suggests a 168% surge from the year-ago actual.

Image Source: Zacks Investment Research

Eldorado Gold’s Solid Earnings Surprise HistoryThe company’s earnings missed the Zacks Consensus Estimates in the last four quarters. It has a trailing four-quarter earnings surprise of a negative 11% on average.

Image Source: Zacks Investment Research

What the Zacks Model Unveils for the EGO StockOur proven model does not conclusively predict an earnings beat for Eldorado Gold this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.

Earnings ESP: EGO has an Earnings ESP of 0.00%. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

Zacks Rank: The company currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Factors Likely to Have Shaped Eldorado Gold’s Q1 PerformanceIn 2025, EGO produced 488,268 ounces of gold, at the high end of its production guidance, attributed to strong output at Lamaque and steady contributions from Kisladag and Efemcukuru. For 2026, production is guided at 490,000–590,000 ounces, implying 11% growth at the midpoint.

For Lamaque, production is expected between 185,000 and 200,000 ounces, suggesting a 3% year-over-year rise at the midpoint. Efemcukuru’s production guidance for 2026 is at 70,000-80,000 ounces. This suggests a 3% increase at the midpoint. Production at Kisladag for 2026 is projected at 105,000-130,000 ounces, lower than the 168,701 ounces of gold produced in 2025. For 2026, the production guidance at Olympias is 70,000-80,000 ounces of gold, indicating a 25% year-over-year increase at the mid point.

The full-year guidance includes a contribution from the Skouries project, at 60,000-100,000 ounces of gold. Skouries’ first concentrate production has been slightly delayed and is now expected in the early part of the third quarter of 2026, with commercial production in the fourth quarter.

The 2026 production is expected to be heavily weighted toward the second half, with roughly 65% of output expected later in back half of the year. This reflects the ramp-up at Olympias and the impact of mine waste stripping and grade profile at Kisladag and the contribution from Skouries. As a result, only about 35% of the annual production is anticipated in the first half of 2026, a sharp drop from roughly 51% delivered in the same period last year.

Against this backdrop, first-quarter production is likely to have come in below the 115,893 ounces reported in the year-ago quarter.  However, gold prices averaged $4,875 per ounce in the first quarter, up 69% from the prior-year level. Higher realized gold prices are likely to have offset the impact of lower production in the quarter on its revenues.

Meanwhile, higher gold prices are likely to have elevated royalty expenses in Greece and Türkiye as the royalty structures are calculated on a sliding scale linked to the gold price. This, combined with increased labor costs, particularly in Turkiye, is anticipated to have led to higher production costs for Eldorado Gold in the first quarter of 2026. Even so, Eldorado’s ongoing focus on efficiency and productivity improvements is expected to have helped mitigate these cost headwinds.

EGO Stock’s Price PerformanceEGO shares have gained 67% in the past year, compared with the industry’s growth of 80.1%.

Image Source: Zacks Investment Research

A Quick Look at How a Gold Mining Stock Fared in Q1Newmont Corporation (NEM - Free Report) reported adjusted earnings surged 132% year over year to $2.90 per share and topped the Zacks Consensus Estimate of $2.07. Including one-time items, Newmont reported earnings of $3 per share compared with $1.68 in the year-ago quarter. 

Newmont’s revenues for the first quarter were $7.31 billion, up roughly 45.9% year over year. The figure beat the Zacks Consensus Estimate of $6.36 billion. Average realized prices were up 66% to $4,900 per ounce, which helped offset the impact of a 15% drop in sales volumes to 1.232 million ounces.  

Stocks to ConsiderHere are some Basic Material stocks with the right combination of elements to post an earnings beat in their upcoming releases.

CF Industries (CF - Free Report) , scheduled to release first-quarter 2026 earnings on May 6, has an Earnings ESP of +1.07% and a Zacks Rank of 1 at present. 

The Zacks Consensus Estimate for earnings for CF Industries for the first quarter of 2026 is $2.35 per share, indicating a 27% year-over-year increase. CF Industries has a trailing four-quarter average earnings surprise of 13.15%.

Carpenter Technology (CRS - Free Report) , scheduled to release first-quarter 2026 earnings on April 29, has an Earnings ESP of +1.94% and a Zacks Rank of 3 at present.

The Zacks Consensus Estimate for Carpenter Technology’s earnings for the first quarter of 2026 is pegged at $2.59 per share, indicating 38% growth from the year-ago quarter’s reported figure. Carpenter Technology has a trailing four-quarter average earnings surprise of 9.23%.

Eldorado Gold Corporation (ELD:CA) Q1 2026 Earnings Call Transcript

On May 01, 2026, Eldorado Gold Corp EGO shares fell 4.0% to a current price of $29.86. This decline is part of a broader trend, with the stock down 17.4% over the past month and 16.7% year-to-date. The stock has traded within a 52-week range of $17.18 to $51.16.

GF Value™ verdict: The current price is $29.86, which is 2.0% below the GF Value™ of $30.46.GF Score™ of 92/100 indicates a strong overall performance in key financial metrics.No insider transactions have occurred in the last three months, which may suggest a lack of bullish sentiment from insiders. Is EGO Overvalued or Undervalued? The current price of Eldorado Gold Corp at $29.86 is slightly below the GF Value™ of $30.46, marking the stock as 2.0% undervalued. This valuation indicates a margin of safety for potential investors, suggesting that the stock could appreciate towards its intrinsic value as calculated by GuruFocus. The GF Valuation label indicates that the stock is fairly valued, which aligns with the minor undervaluation indicated by the GF Value™. Investors should note, however, that while the stock appears to be undervalued, market volatility and external factors affecting the metals and mining industry could pose risks to its performance.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

How Does EGO's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 10.7x 17.8x Forward P/E 7.0x N/A The current P/E ratio of 10.7x is significantly below Eldorado Gold's 5-year median P/E of 17.8x, indicating that the stock is trading at a substantial discount compared to its historical valuation. Furthermore, the forward P/E of 7.0x further emphasizes this undervaluation. This P/E analysis supports the GF Value™ verdict, suggesting that EGO shares may be undervalued based on historical performance metrics.

What Does EGO's GF Score™ Tell Us? Metric Rating GF Score™ 92 Financial Strength 7/10 Profitability 7/10 Growth 10/10 Valuation 9/10 Momentum 6/10 The GF Score™ of 92/100 indicates that Eldorado Gold Corp exhibits strong characteristics across various metrics. The highest rating is in Growth at 10/10, reflecting robust potential for future earnings expansion. However, the Momentum score of 6/10 suggests some weakness, as recent price performance has been declining. Overall, while EGO shows strong financial and valuation performance, its momentum may warrant caution.

What Are Insiders Doing with EGO Stock? There have been no insider transactions in the last three months, indicating a lack of recent buying or selling activity among executives and board members. This absence of insider activity could suggest a neutral sentiment regarding the stock's short-term prospects, as insiders often buy shares when they are optimistic about the company's future performance or sell when they foresee downturns.

What This Means for Investors Based on the GF Value™ assessment, Eldorado Gold Corp is currently undervalued at $29.86 compared to its intrinsic value of $30.46. This presents an opportunity for potential investors, yet it is essential to remain aware of market conditions and any developments in the metals and mining sector that may impact the stock's performance moving forward.

For the complete analysis, visit the Eldorado Gold Corp EGO stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is EGO's GF Score™?

EGO's GF Score™ is 92/100, indicating strong overall performance across key financial metrics, suggesting it could generate higher long-term returns.

Is EGO overvalued or undervalued?

EGO is currently undervalued, with a GF Value™ of $30.46 compared to its current price of $29.86, indicating a potential for appreciation towards its intrinsic value.

What is EGO's P/E ratio?

EGO's P/E ratio is 10.7x, which is significantly below its 5-year median P/E of 17.8x, supporting the assessment of the stock being undervalued based on historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Emphasizes Sustainability as a Foundation for Safe, Responsible and Resilient Growth
(All dollar figures are in US dollars, unless otherwise stated)

VANCOUVER, British Columbia, May 26, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) is pleased to announce the publication of its 2025 Sustainability Report (the “Report”), which provides details of the Company’s environmental, social and governance (“ESG”) performance for the period January 1 to December 31, 2025, unless otherwise stated. The Report also includes historical data for 2023–2025 for greenhouse gas (“GHG”) emissions and other multi-year indicators. The 2025 Sustainability Report is available on Eldorado’s website (https://www.eldoradogold.com/sustainability/reporting).

“At Eldorado, sustainability starts with our people,” said George Burns, Chief Executive Officer. “The publication of our 2025 Sustainability Report reflects the dedication of our teams across Canada, Greece and Türkiye, and their commitment to operating safely, responsibly and with care for one another and the communities around us. In 2025, we continued to strengthen our health and safety culture through programs that encourage our people to speak up, support one another and take personal ownership of safety every day. We also advanced important initiatives to foster a more inclusive, connected and equitable workplace, because we know that strong performance begins with engaged and supported teams. I am proud of the progress we have made and grateful to our employees and contractors whose efforts continue to move us forward. As we build the next chapter of Eldorado’s growth, we remain focused on creating long-term value through responsible mining, with safety and sustainability at the core of everything we do.”

2025 Report Highlights and Achievements:
(Organized by the four pillars of our Sustainability Framework)

Safe, Inclusive and Innovative Operations

At Eldorado, we prioritize a positive culture of health and safety where everyone values their own and others’ safety and well-being. Protecting the health and safety of our employees, contractors, suppliers and communities is a cornerstone of our operating philosophy. We are focused on driving an engaged positive culture, as part of our continued efforts to eliminate fatalities, serious injuries and occupational diseases.

50% women on our Board of Directors and 38% women across our Officers and Senior Management(1);25% global female hire rate achieved;57% decrease in potentially fatal occurrence frequency rate; and25% global completion of Courageous Safety Leadership workshops. Engaged and Prosperous Communities

From the initial stages of exploration to the eventual reclamation and rehabilitation of a mine site, we rely on the relationships with our stakeholders and Indigenous peoples to work toward socially inclusive and sustainable development. By maintaining open and transparent communication, providing competitive wages and benefits, prioritizing local hiring and procurement, contributing our fair share of taxes and royalties, and investing in community programs and infrastructure, we work hard to support the development goals of our host communities and governments.

81% of our employees reside in local and host communities;77% of our contractors are sourced from countries of operations;$7.6 million in community investment, representing a 68% increase year over year; and$1.2 billion spent on local/national procurement with suppliers, representing a 47% increase year over year. Healthy Environments Now and for the Future

As a global company, we are subject to the environmental laws and regulations in each of our operating jurisdictions. We work closely with our regional teams to understand local regulations and align our environmental practices to meet these requirements and our Sustainability Integrated Management System (“SIMS”) standards. Our Climate Change Strategy sets out how we identify, assess, manage, and disclose climate-related risks, opportunities, and impacts across our operations and development projects.

0.42 tCO2e/oz Au average Scope 1 and Scope 2 GHG emissions intensity for operating mines(2);46% of our GHG emissions mitigation target achieved(3);76% water recycled and reused; and48,280 indigenous plants established across 9,036 hectares to advance biodiversity and reclamation. Responsibly Produced Products

The products we produce, primarily gold today and copper-gold concentrate in the future, play an essential role in the global economy and modern society. Gold serves as a store of value, supports financial systems, and contributes to a wide range of applications, including technology, medicine and innovation. Copper is a critical material for electrification and the energy transition, supporting the shift to a lower-carbon economy. With first copper concentrate expected in 2026, our entry into copper production is expected to contribute to these global outcomes.

Continuous improvement of our sustainability management system framework, SIMS, including the rollout of new training for our workforce;Completed a Mining Association of Canada’s Towards Sustainable Mining verification at the Lamaque Complex, with Level AAA scores for all applicable protocols;Full conformance with World Gold Council’s Responsible Gold Mining Principles and Conflict-Free Gold Standard; andIndependent Human Rights and Voluntary Principles on Security assessments completed across all operating sites.
Sustainability Data Centre

Eldorado Gold is pleased to announce, new for the 2025 reporting cycle, a new sustainability data centre, which is a centralized hub for sustainability data, alongside financial and operational data. The data centre is available on Eldorado’s website via this link: Data Centre.

Feedback

Eldorado Gold welcomes feedback from all stakeholders and communities regarding the Company’s sustainability reporting. Please direct comments or requests for further information to Investor Relations.

Notes:

(1)Data as at December 31, 2025 and may therefore differ from those disclosed in Eldorado’s other reports published in 2026, which use different reporting timeframes. (2)GHG emissions intensity per ounce of gold includes only those operations that produced gold during the year (Lamaque Complex, Kışladağ, Efemçukuru and Olympias). This figure is calculated in alignment with the GHG Protocol Corporate Accounting and Reporting Standard. (3)This figure represents Eldorado’s estimated Scope 1 and Scope 2 GHG emissions mitigated from mines included in the GHG emissions mitigation target (Lamaque Complex, Kışladağ, Efemçukuru, Olympias and Stratoni) as at the end of 2025, as compared to an unmitigated “business-as-usual” scenario. The GHG emissions mitigation target does not include Skouries and is distinct from our corporate Scope 1 and Scope 2 GHG emissions measured on an absolute basis.   About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Greece and Türkiye. 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]        

Cautionary Note about Forward-looking Statements and Information

Certain of the statements made and information provided in this news release are forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipate”, “believe”, “budget”, “continue”, “commitment”, “confident”, “deliver”, “estimate”, “expect”, “forecast”, “foresee”, “future”, “goal”, “generate”, “guidance”, “intend”, “opportunity”, “outlook”, “plan”, “project”, “potential”, “prospective”, “scheduled” “strive”, or “target” or the negatives thereof or variations of such words and phrases or similar words or statements that certain actions, events or results “can”, “could”, “likely”, “may”, “might”, “will”, or “would” be taken, occur or be achieved.

Forward-looking statements or information contained in this news release include, but are not limited to, statements or information with respect to: sustainability commitments, both generally in the pillars of our Sustainability Framework and in specific initiatives developed within each pillar; our beliefs with respect to our impact and approach to sustainability; our initiatives to foster a more inclusive, connected and equitable workplace; our focus on creating long-term value through responsible mining; our ongoing efforts towards our climate change strategy; and generally our strategy, plans and goals. 

Forward-looking statements and forward-looking information are by their nature based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning, among other things: the current or future price of gold, copper and other commodities; anticipated values, costs, expenses and working capital requirements; the geopolitical, economic, permitting and legal climate that we operate in; general business and economic conditions, including interest rates, inflation, commodity and power prices, credit and financial market conditions and the impact of foreign exchange rates and tax rates and related frameworks; our ability to address the negative impacts of climate change and adverse weather; and our ongoing relations with regulators, communities, and our partners. In addition, except where otherwise stated, we have assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: prices of commodities and consumables; construction and development risks at the Skouries project, the McIlvenna Bay project and our other construction and development projects; changing political, economic and social conditions, including changes in governments or political systems, ongoing market uncertainty and global or regional geopolitical events, conflicts or disruptions; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; our ability to integrate the assets of Foran Mining Corporation, advance its exploration and development assets and to realize anticipated synergies and benefits therefrom on the timelines expected or at all; delays and risks relating to surface construction, commissioning activities, ramp-up, and commercial production at McIlvenna Bay; our ability to obtain reliable supplies of power and water at a reasonable cost; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables; inflation risk; risks related to fluctuations in the currency markets, including the Euro, Turkish lira, Canadian dollar and United States dollar; community relations and social license; environmental matters; geotechnical and hydrogeological structures, conditions or failures, including our ability to completely understand such structures and to mitigate such conditions or failures at a reasonable cost or at all; regulatory requirements as they relate to mine plan approvals; compliance with the Extractive Sector Transparency Measures Act (Canada); waste disposal; mineral tenure; permits, licenses and other authorizations; non-governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of Mineral Reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic or similar public health threats; regulated substances; acquisitions, including integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness, including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings; total cash costs per ounce and all in sustaining costs, including in relation to the market price of gold and the Company’s profitability; interest rate risk; credit risk; tax matters; financial reporting, including relating to the carrying value of our assets and changes in reporting standards; the global economic environment; labour risks (availability of labour resources, including for construction, development and improvements activities, and their productivity; and risks relating to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates and contractors, reclamation and long-term obligations); turnover and attrition rates of labour, and related impacts thereto; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks related to title and surface rights; risks relating to environmental, sustainability, health and safety, and governance matters; technology and cybersecurity risks; corruption, bribery, and sanctions; litigation and contracts; conflicts of interest; compliance with applicable laws, legislation and regulations; dividends; tariffs and other trade barriers; and those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein.

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.”

The Honourable Tim Hodgson, federal Minister of Energy and Natural Resources commented, “This milestone at McIlvenna Bay demonstrates how Canada is seizing this moment, and the momentum of this project following its referral to the Major Projects Office by the Prime Minister in 2025. It is a perfect example of how we are moving quickly, responsibly, and in partnership with provinces and Indigenous Peoples to become an energy and mining superpower. Copper and zinc underpin clean energy, national security, and industrial supply chains – and now, Canada is delivering them, for ourselves and our allies. I congratulate Eldorado Gold, the Province of Saskatchewan, and all the partners who made this milestone possible. This is how we build Canada Strong for all.”

Following the completion of the acquisition of Foran Mining Corporation on April 14, 2026, the Company is advancing a focused exploration and growth strategy at McIlvenna Bay, building on a strong operational and geological foundation. The Company has committed approximately $17 million of additional exploration spending on McIlvenna Bay and its wider mineral claims in 2026, reflecting the highly prospective, district-scale nature of the land package and the opportunity to further extend mine life and support further growth.

The adjacent Tesla Zone, a high-grade polymetallic discovery located near existing infrastructure, represents a compelling longer-term expansion opportunity at McIlvenna Bay. Beyond testing for copper-rich extensions at Tesla, the exploration team will be drilling the Bigstone deposit with the objective of expanding that resource, drilling several advanced and early-stage targets and undertaking large-scale airborne and target-scale geophysical surveys to identify new and refine known targets for future drill testing. In addition, the team will be undertaking various ore body characterization studies to support both exploration vectoring and future resource development. These have the potential to increase scale, extend mine life, and enhance the long-term value of the asset. McIlvenna Bay is situated within a mineral-rich belt extending over 225 kilometres that has supported base metal production for over a century, underscoring the significant exploration potential across the broader district, much of which remains largely untested.

McIlvenna Bay meaningfully diversifies Eldorado's asset base across both geography and commodity. The project provides the Company with significant copper exposure, adding a critical mineral in global demand to a portfolio that is well-balanced. With operations spanning Canada, Greece, and Türkiye, the combined portfolio delivers jurisdictional diversification alongside attractive long-term cash flow generation. The Company's increased scale and enhanced Canadian exposure are expected to support a compelling valuation re-rate for shareholders.

Qualified Person

Simon Hille, FAusIMM, Executive Vice President, Chief Operating Officer, is the Qualified Person under National Instrument 43-101 responsible for preparing and supervising the preparation of the scientific or technical information contained in this news release and for verifying the technical data disclosed in this document relating to McIlvenna Bay.

About Eldorado Gold

Eldorado is a gold and base metals producer with mining, development and exploration operations in Canada, Türkiye, 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).

Contact

Investor Relations
Lynette Gould, VP, Investor Relations, Communications & External Affairs
647 271 2827 or 1 888 353 8166
[email protected]

Media
Chad Pederson, Director, Communications and Public Affairs
236 885 6251 or 1 888 353 8166
[email protected]        

Cautionary Note about Forward-looking Statements and Information
Certain of the statements made and information provided in this news release are forward-looking statements or forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements and forward-looking information can be identified by the use of words such as “anticipates”, “believes”, “budgets”, "committed", “continue”, “estimates”, “expects”, “focus”, “forecasts”, “foresee”, “forward”, “future”, “goal”, “guidance”, “intends”, “opportunity”, “outlook”, “plans”, “potential”, “schedule”, “strategy”, “target”, “underway”, “working” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “can”, “could”, "likely", "may", “might”, “will” or "would" be taken, occur or be achieved.

Forward-looking statements and forward-looking information contained in this news release includes, but is not limited to, statements or information with respect to: our focus on ramp-up toward the nameplate capacity of 4,900 tonnes per day and our expected key activities during the ramp-up period; our expectation to achieve commercial production at McIlvenna Bay in Q3 2026; our expectations regarding McIlvenna Bay, including expected benefits, alongside Skouries, to the Company; our expectations of the adjacent Tesla Zone, including expected activities from the exploration team and the potential to increase scale, extend mine life, and enhance the long-term value of the asset; our belief that the combined portfolio of the Company delivers jurisdictional diversification alongside attractive long-term cash flow generation, and that the increased scale and enhanced Canadian exposure are expected to support a compelling valuation re-rate for shareholders; and generally our strategy, plans and goals, including our proposed exploration, development, construction, permitting, financing and operating potential, plans and priorities and related timelines and schedules.

Forward-looking statements and forward-looking information by their nature are based on a number of assumptions that management considers reasonable. However, if such assumptions prove to be inaccurate, then actual results, activities, performance or achievements may be materially different from those described in the forward-looking statements or information. These include assumptions concerning: timing, cost and results of our construction and development activities, improvements, and exploration; the future price of gold, copper, and other commodities; receipt of all required permits on the timelines we expect; the global concentrate market; exchange rates; anticipated values, costs, expenses and working capital requirements; the successful integration of the assets and operations from the acquisition of Foran Mining Corporation, and the realization of benefits derived therefrom; our ability to continue accessing our project funding and remain in compliance with all covenants and contractual commitments related thereto; availability of labour resources, including for construction, development and improvements activities; production and metallurgical recoveries; Mineral Reserves and Mineral Resources; our ability to effectively use invested capital and unlock the potential expansion opportunities across the portfolio; our ability to address the negative impacts of climate change and adverse weather; consistency of agglomeration and our ability to optimize it in the future; the cost of, and extent to which we use, essential consumables (including fuel, explosives, cement, and cyanide); the impact and effectiveness of productivity initiatives; the time and cost necessary of shipping for important or critical items for construction, development and improvements activities or for anticipated overhauls of equipment; expected by-product grades; the use, and impact or effectiveness, of growth capital; the impact of acquisitions, dispositions, suspensions or delays on our business, and the sustaining capital required for various projects; and the geopolitical, economic, permitting and legal climate that we operate in. In addition, except where otherwise stated, Eldorado has assumed a continuation of existing business operations on substantially the same basis as exists at the time of this news release. Even though we believe that the assumptions and expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are beyond our control.

Forward-looking statements or information contained in this news release are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements or information, including, but not limited to: commodity price risk; development risks at Skouries, McIlvenna Bay, and other construction and development projects; including the ability of key suppliers to meet key contractual commitments in terms of schedules, amount of product delivered, cost, or quality and our ability to construct key infrastructure within the required timelines, and unexpected inclement weather and climate events that may delay timelines; risks relating to our operations in foreign jurisdictions; risks related to production and processing; risks related to our improvement projects; integration risks relating to the acquisition of Foran Mining Corporation, including the possibility that anticipated benefits from the acquisition are not realized on the timeline expected or at all; delays and risks relating to surface construction, commissioning activities, ramp-up, and commercial production at McIlvenna Bay; our ability to secure supplies of power and water at a reasonable cost; prices of commodities and consumables; our reliance on significant amounts of critical equipment; our reliance on infrastructure, commodities and consumables; inflation risk; community relations and social license; risks related to title and surface rights; environmental, health and safety matters; our ability to completely understand geotechnical structures, geotechnical and hydrogeological conditions or failures, and our ability to mitigate such conditions or failures at a reasonable cost, or at all; regulatory requirements as they relate to mine plan approvals; compliance with the Extractive Sector Transparency Measures Act (Canada); waste disposal; mineral tenure; permits, licences and other authorizations; non-governmental organizations; reputational issues; climate change; change of control; actions of activist shareholders; estimation of Mineral Reserves and Mineral Resources; risks related to replacement of mineral reserves; regulatory reviews and different standards used to prepare and report Mineral Reserves and Mineral Resources; risks relating to any pandemic, epidemic, endemic, or similar public health threats; regulated substances; acquisitions, including general integration risks; dispositions; co-ownership of our properties; investment portfolio; volatility, volume fluctuations, and dilution risk in respect of our shares; competition; reliance on a limited number of smelters and off-takers; information and operational technology systems; liquidity and financing risks; indebtedness (including current and future operating restrictions, implications of a change of control, ability to meet debt service obligations, the implications of defaulting on obligations and changes in credit ratings); total cash costs per ounce and AISC (particularly in relation to the market price of gold and the Company’s profitability); currency risk; interest rate risk; credit risk; tax matters; financial reporting (including relating to the carrying value of our assets and changes in reporting standards); the global economic environment; labour risks (availability of labour resources, including for construction, development and improvements activities, and their productivity; and risks relating to employee/union relations, employee misconduct, key personnel, skilled workforce, expatriates, and contractors); turnover and attrition rates of labour, and related impacts thereto; default on obligations; current and future operating restrictions; reclamation and long-term obligations; credit ratings; change in reporting standards; the unavailability of insurance; Sarbanes-Oxley Act, applicable securities laws, and stock exchange rules; risks relating to environmental, sustainability, and governance practices and performance; corruption, bribery, and sanctions; employee misconduct; litigation and contracts; conflicts of interest; compliance with privacy legislation; dividends; cyber security risk; and international conflict and other geopolitical tensions and events, including war, tariffs and other trade barriers; and those risk factors discussed in the section titled “Risk Factors in Our Business” in the Company’s most recent Annual Information Form and Form 40-F. The reader is directed to carefully review our most recent Annual Information Form, Form 40-F and other regulatory filings filed on SEDAR+ and EDGAR under our Company name for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

The inclusion of forward-looking statements and information is designed to help you understand management’s current views of our near- and longer-term prospects, and it may not be appropriate for other purposes. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada and the United States.