WHITEHORSE, Feb. 18 /CNW/ - European Goldfields Limited (AIM: EGU / TSX: EGU) (the "Company") has noted the recent movement in its share price following
speculation in the market regarding the progress of our Greek permits.
European Goldfields continues to make substantial progress on all of
its assets and is looking forward to announcing the conclusion of the
permitting process for its Business Plan in Greece.
The Company is confident that the permitting process in Greece is coming
to a successful conclusion and expects to be able to make a further
announcement in the near future.
The permitting process involves a detailed Business Plan that covers
several assets and activities and entailed the largest Environmental
Impact Study ("EIS") hitherto submitted in Greece. The Company has complete confidence in
the integrity of what has been a long, complex and detailed evaluation
and approval process.
In preparation for the anticipated receipt of permits, the Company is
finalizing an update to the Business Plan and Reserve and Resource
Statement (NI 43-101) to reflect both prevailing commodity prices and
About European Goldfields
European Goldfields is a developer-producer with globally significant
gold reserves located within the European Union. The Company generates
cash flow from its 95% owned Stratoni operation, a high grade
lead/zinc/silver mine in North-Eastern Greece. European Goldfields will
evolve into a mid-tier producer through responsible development of its
project pipeline of gold and base metal deposits at Skouries and
Olympias in Greece and Certej in Romania. The Company plans future
growth through development of its highly prospective exploration
portfolio in Greece, Romania and Turkey.
SOURCE European Goldfields Ltd.
For further information:
|European Goldfields || ||Liberum Capital Limited|
|Steve Sharpe, SVP Business Development || ||Simon Atkinson|
|e-mail: firstname.lastname@example.org || ||Tom Fyson|
|Tel: +44 (0)20 7408 9534 || ||Tel: +44 (0)20 3100 2000|
| || || |
|Brunswick || ||Evolution Securities Limited|
|Carole Cable / Fiona Micallef-Eynaud || ||Rob Collins|
|e-mail: email@example.com || ||Tim Redfern|
|Tel: +44 (0)20 7404 5959 || ||Tel: +44 (0)20 7071 4300|