Eldorado Gold and Foran Mining Combine to Create a Leading Gold and Copper Producer

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[{"type":"text","content":" Combination strengthens Eldorado’s exceptional growth profile Pro-Forma Company to generate sector-leading free cash flow and profit margins Long-life assets with near-term organic expansion and scale Diversifies portfolio with addition of a project of Canadian national importance Dan Myerson to join Board of Directors (All amounts expressed in U.S. dollars unless otherwise noted) VANCOUVER, British Columbia, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Eldorado Gold Corporation (TSX:ELD) (NYSE:EGO) (“Eldorado”) and Foran Mining Corporation (TSX:FOM, OTCQX: FMCXF) (“Foran”) are pleased to announce that they have entered into an agreement whereby Eldorado will acquire Foran to create a sector-leading gold-copper mining company with significant near‑term growth, strong cash flow generation, long‑life assets, and a diversified portfolio. This positions Eldorado to benefit from robust metal prices and rising demand for critical minerals. By bringing together two high-quality, fully financed development assets – Skouries in Greece and McIlvenna Bay in Saskatchewan, Canada – which are both on budget and on schedule to achieve commercial production in mid-2026, the combined company will offer a clear and compelling re-rate opportunity. With a diversified asset base anchored in Canada and a peer-leading exploration pipeline, the combined company is designed to generate resilient, long-term cash flows capable of self-funding sustained growth. Transaction Overview Eldorado and Foran have entered into a definitive agreement (the “Arrangement Agreement”) pursuant to which Eldorado will acquire all of the issued and outstanding common shares of Foran (the “Foran Common Shares”), including those Foran Common Shares to be issued on conversion of the non‑voting shares of Foran (the “Foran Non-Voting Shares”, and together with the Foran Common Shares, the “Foran Shares”), other than the Foran Shares already owned by Eldorado or its affiliates, by way of a court‑approved plan of arrangement (the “Transaction”). Pursuant to the terms of the Arrangement Agreement, Foran shareholders will receive 0.1128 common shares of Eldorado (each whole share, an “Eldorado Share”) and $0.01 in cash for each Foran Share held (the “Consideration”), representing an 8.0% premium to the 20-day volume-weighted average trading price (“VWAP”) of the Foran Common Shares, based on ...

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