European Goldfields Added to S&P/TSX Composite Index

    WHITEHORSE, YT, March 17 /CNW Telbec/ - European Goldfields Limited
(TSX / AIM: EGU) is pleased to announce that its shares have been added to the
S&P/TSX Composite Index, effective at the open of markets on Monday 24 March
    With a market capitalisation of over US$1.1 billion, a cash balance of
approximately US$220 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 2011.

    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 contain 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 gold concentrates from
Olympias 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. The Company submitted in March 2007 a technical feasibility study
to the Romanian government in support of a permit application to develop the

For further information:

For further information: European Goldfields: David Reading, Chief
Executive Officer,, +44 (0)20 7408 9534; Buchanan
Communications: Bobby Morse / Ben Willey,, +44 (0)20
7466 5000; Renmark Financial Communication: Jason Roy,; Josh Rivard,; Media -
François Trepanier, (514) 939 3989,,, Fax: (514) 939 3717; RBC Capital Markets: Andrew K
Smith,, +44 (0)20 7029 7882

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