TSX: ELD NYSE: EGO
VANCOUVER, Sept. 18, 2018 /PRNewswire/ - Eldorado Gold
Corporation ("Eldorado" or "the Company") confirms that its Greek
subsidiary, Hellas Gold S.A.
("Hellas Gold"), has filed an Application for Payment (the
"Application") with the Hellenic Republic (the "Greek State"). The
Application requests payment of approximately €750 million for
damages suffered by the Company arising from delays in the issuance
of permits for the Skouries project, including damages for out of
pocket costs and loss of profits. The Application is a non-judicial
request for payment and does not initiate legal proceedings.
George Burns, Eldorado Gold's
President and CEO said, "The Application represents a good-faith
attempt to resolve the matter with the Greek State as it relates to
costs incurred resulting from permit delays to our Skouries
project. Eldorado has always acted in a manner consistent with
finding a mutually-agreeable solution to responsibly developing
Skouries. We hope that this matter can be resolved in an amicable
manner without needing to go down the route of arbitration."
About Eldorado Gold
Eldorado is a gold and base
metals producer with mining, development and exploration operations
in Turkey, Greece, Romania, Canada and Brazil. 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).
Cautionary Note about Forward-looking Statements and
Information
Certain of the statements made and information provided in
this press 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 "plans",
"goals", "expects", "is expected", "budget", "continue",
"projected", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "believes" 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 filing of an application for payment in
Greece.
Forward-looking statements and forward-looking information by
their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information.
We have made certain assumptions about the forward-looking
statements and information, including assumptions about the
geopolitical, economic, permitting and legal climate that we
operate in; the future price of gold and other commodities;
exchange rates; anticipated costs and expenses; production, mineral
reserves and resources and metallurgical recoveries, the impact of
acquisitions, dispositions, suspensions or delays on our business
and the ability to achieve our goals. In particular, 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 release.
Even though our management believes that the assumptions made
and the 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.
Furthermore, should one or more of the risks, uncertainties
or other factors materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
described in forward-looking statements or information. These
risks, uncertainties and other factors include, among others, the
following: geopolitical and economic climate (global and
local), risks related to mineral tenure and permits; gold and other
commodity price volatility; recoveries of gold and other metals;
results of test work; revised guidance; risks regarding potential
and pending litigation and arbitration proceedings relating
to the Company's, business, properties and operations; expected
impact on reserves and the carrying value; the updating of the
reserve and resource models and life of mine plans; mining
operational and development risk; foreign country operational
risks; risks of sovereign investment; regulatory risks and
liabilities including, regulatory environment and restrictions, and
environmental regulatory restrictions and liability; discrepancies
between actual and estimated production, mineral reserves and
resources and metallurgical testing and recoveries; risks related
to the impact of the sale of our Chinese assets and the acquisition
and integration of Integra on the Company's operations; additional
funding requirements; currency fluctuations; community and
non-governmental organization actions; speculative nature of gold
exploration; dilution; share price volatility; competition; loss of
key employees; and defective title to mineral claims or properties,
as well as those risk factors discussed in the sections titled
"Forward-Looking Statements" and "Risk factors in our business" in
the Company's 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 filed on
SEDAR under our Company name for a fuller understanding of the
risks and uncertainties that affect the Company's business and
operations.
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 U.S.
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SOURCE Eldorado Gold Corporation