European Goldfields Added to S&P/TSX Global Gold Index



    WHITEHORSE, YT, Sept. 20 /CNW Telbec/ - European Goldfields Limited   
(TSX / AIM: EGU) is pleased to announce that its shares have been added to the
S&P/TSX Global Gold Index, effective after markets close on Friday 21
September 2007.
    With a market capitalisation of approximately US$1 billion, a cash
balance of over US$200 million, an operating mine and a pipeline of three
further development-stage projects in Greece and Romania, European Goldfields
expects to become a mid-tier gold producer by the year 2010.

    About European Goldfields

    European Goldfields Limited is a resource company involved in the
acquisition, exploration and development of mineral properties in Greece,
Romania and South-East Europe.

    Greece - European Goldfields holds a 95% interest in Hellas Gold S.A.
Hellas Gold owns three major gold and base metal deposits in Northern Greece.
The deposits are the polymetallic operation at Stratoni, the Olympias project
which contains gold, zinc, lead and silver, and the Skouries copper/gold
porphyry project. Hellas Gold commenced production at Stratoni in September
2005 and commenced selling an existing stockpile of Olympias gold concentrates
in July 2006. Hellas Gold is applying for permits to develop the Skouries and
Olympias projects.

    Romania - European Goldfields owns 80% of the Certej gold/silver project
in Romania. European Goldfields submitted in March 2007 a technical
feasibility study to the Romanian government, in support of a permit
application to develop the project.

    Forward-looking statements

    Certain statements and information contained in this document, including
any information as to the Company's future financial or operating performance
and other statements that express management's expectations or estimates of
future performance, constitute forward-looking information under provisions of
Canadian provincial securities laws. When used in this document, the words
"anticipate", "expect", "will", "intend", "estimate", "forecast", "planned"
and similar expressions are intended to identify forward-looking statements or
information. Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. The Company cautions the reader that such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual financial results, performance or
achievements of the Company to be materially different from its estimated
future results, performance or achievements expressed or implied by those
forward-looking statements and the forward-looking statements are not
guarantees of future performance. These risks, uncertainties and other factors
include, but are not limited to: changes in the price of gold, base metals or
certain other commodities (such as fuel and electricity) and currencies;
uncertainty of mineral reserves, resources, grades and recovery estimates;
uncertainty of future production, capital expenditures and other costs;
currency fluctuations; financing and additional capital requirements; the
successful and timely permitting of the Company's Skouries, Olympias and
Certej projects; legislative, political, social or economic developments in
the jurisdictions in which the Company carries on business; operating or
technical difficulties in connection with mining or development activities;
the speculative nature of gold and base metals exploration and development,
including the risks of diminishing quantities or grades of reserves; the risks
normally involved in the exploration, development and mining business; and
risks associated with internal control over financial reporting. For a more
detailed discussion of such risks and material factors or assumptions
underlying these forward-looking statements, see the Company's Annual
Information Form for the year ended 31 December 2005, filed on SEDAR at
www.sedar.com. The Company does not intend, and does not assume any
obligation, to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise, except as required by
law.




For further information:

For further information: European Goldfields: David Reading, Chief
Executive Officer, info@egoldfields.com, +44 (0)20 7408 9534; Buchanan
Communications: Bobby Morse / Ben Willey, bobbym@buchanan.uk.com, +44 (0)20
7466 5000; Renmark Financial Communication: Neil G. Murray-Lyon,
nmurraylyon@renmarkfinancial.com; Barbara Komorowski,
bkomorowski@renmarkfinancial.com, Media - Eva Jura,
ejura@renmarkfinancial.com; (514) 939 3717, Fax: (514) 939 3989,
www.renmarkfinancial.com; Evolution Securities: Simon Edwards / Neil Elliot,
simon.edwards@evosecurities.com, +44 (0)20 7071 4300

Organization Profile

EUROPEAN GOLDFIELDS LTD.

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