Eldorado Gold Corporation · TSX:ELD

Eldorado Gold — European Gold Forum April 2013

36 slides from Eldorado Gold's conference presentation, April 2013

  1. Slide 1: Continuing to Build a Quality Business

    Continuing to Build a Quality Business European Gold Forum April 2013

  2. Slide 2: Forward-looking statements

    Certain of the statements made in this Presentation may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities law. These forward-looking statemen

  3. Slide 3: > 650,000 oz gold producer with 20 years of international experience

     > 650,000 oz gold producer with 20 years of international operating experience  Leading low cost operator with solid margins and a strong balance sheet  Experienced management team with a proven ability to safely build and Open Pit, Kişladağ, Turkey operate mines www.eldoradogold.com 3

  4. Slide 4: Track record of value creation and solid reserve base

     Track record of value creation through exploration, development, production and acquisitions  Solid reserve and resource base (P&P gold reserves: 25.7 Moz)  Competitive and transparent dividend Processing Plant, Efemcukuru, Turkey policy www.eldoradogold.com 4

  5. Slide 5: Well-balanced portfolio of high-quality, low-cost assets

     Well-balanced portfolio of high-quality, low-cost assets  Operations in 5 highly prospective countries with well-established mining cultures  5 producing gold mines are the core of our business  6 development projects funded by strong balance sheet www.eldoradogold.com 5

  6. Slide 6: 2013 guidance and priorities

     Gold production of 705,000–760,000 oz  Cash operating costs of $515–$530/oz; estimated total cash costs of ~$585/oz  Capital expenditure of $648m ($410 operations; $238 projects)  Exploration budget increased by 22% to $98.5m  Cash and cash equivalents of $817m at year end 2012  Dividend of C

  7. Slide 7: Our vision: long-term, profitable and sustainable business

    Our vision: to create a long-term, profitable and sustainable business using a disciplined approach to growth Create Value Identify Increase margins Opportunities through high-quality, low cost operations Develop Low CostProjects Disciplined M&A Generate solid cash & Increase approach to acquire flo

  8. Slide 8: Our strategy: low-cost operator of high-quality assets

    Our strategy: to be a low-cost operator of high-quality assets High quality, Low cost Asset Quality long life mines assets Solid margins Doubled Technical 20 years of Built 4 mines production & operating in 3 countries Expertise experience on budget reserves in 5 years Capital Prudent Rigorous Stron

  9. Slide 9: Increasing Gold Production and Reserves & Resources

    Increasing Gold Production and Reserves & Resources  Over the past 5 years we have: Reserves & Resources (Moz) 40 700 Gold Production (Koz) 35 600 30 500  Doubled production 25 400 20 300 15 200  Materially increased reserves 10 5 100 & resources per share 0 0 2008 2009 2010 2011 2012 P+P M+I Pro

  10. Slide 10: Dividend as % of Earnings 2011 & 2012

    Dividend as % of Earnings 2011 & 2012* 35% 30% 25% (% of earnings) 20% 15% 10% 5% 0% Yamana Barrick Eldorado Goldcorp Kinross 2011 2012 Source: Company Q4 2011 & 2012 Results Releases * Adjusted Earnings www.eldoradogold.com 10

  11. Slide 11: Estimated Gold Production 2012-2016

    Estimated Gold Production 2012-2016  Strong production growth (Average Annual Growth Rate: 27%) with decreasing cash costs  Over 1.5 million oz of gold produced in 2016  Cash operating costs (net of by- product) declining to $300-350/oz in 2016  Balance sheet strength maintained  Continue to di

  12. Slide 12: Four projects account for 75% of future production growth

    These four projects account for 75% of Eldorado’s future production growth Kişladağ Olympias Skouries Perama Hill (Expansion) (Expansion) (Construction) (Development) www.eldoradogold.com 12

  13. Slide 13: Kişladağ expansion highlights

    EXPANSION Highlights Current production rate 12.5 million tonnes / year (crushing, screening, stacking) Expanded production rate 25.0 million tonnes / year (crushing, screening, stacking) Expanded production rate, average 475,000 ounces / year LOM strip ratio 1.4:1 ROM ore treatment , average 8MT /

  14. Slide 14: Kişladağ expansion: engineering, procurement, construction

    EXPANSION Engineering  Detailed engineering design initiated Procurement Phase IV Leach Pad Expansion  Continue procurement of major mining and process equipment Phase IV Plant Expansion  Major fabrication initiated Construction  Construction of Phase IV leach pad extension  Installation of Nor

  15. Slide 15: Investment highlights summary

     Low cost operator with solid margins and strong balance sheet  Portfolio of high-quality, long-life mines and development projects  Management team that has built 4 mines in 3 countries since 2005  Track record of growing reserves and resources, expanding production and increasing margins  Com

  16. Slide 16: Thank You

    Thank You TSX: ELD NYSE: EGO Total shares outstanding (as at Dec 31, 2012): 714.3 M Investor Relations: Nancy Woo (604) 601-6650 ⋅ nancyw@eldoradogold.com www.eldoradogold.com 16

  17. Slide 17: Background Information

    Background Information www.eldoradogold.com 17

  18. Slide 18: Five cornerstone gold mines

     Five cornerstone gold mines: Kişladağ Efemçukuru Jinfeng Tanjianshan White Mountain www.eldoradogold.com 18

  19. Slide 19: Kişladağ

    PRODUCTION OVERVIEW Location Uşak Province, Western Turkey Deposit Gold porphyry Ownership 100% Eldorado Open pit Type Heap leach gold mine Expected Life of Mine 15-20 years Recovery 65% Strip Ratio 2013 1.75:1 RESERVES AND RESOURCES (at Dec 31, 2012) Proven + Probable Reserves 10.0 Moz Au @ 0.70 g/

  20. Slide 20: Efemçukuru

    PRODUCTION OVERVIEW Location Izmir Province, Western Turkey Deposit High grade epithermal gold vein Ownership 100% Eldorado Underground gold mine Type Flotation and Carbon in Leach Expected Life of Mine 12 years Recovery 87% RESERVES AND RESOURCES (at Dec 31, 2012) Proven + Probable Reserves 1.3 Moz

  21. Slide 21: Jinfeng

    PRODUCTION OVERVIEW Location Guizhou Province, China Deposit Carlin type 82% Eldorado Ownership 18% Guizhou Lannigou Gold Mine Ltd Open pit and underground gold mine Type Biox and Carbon in Leach Expected Life of Mine 13 years Recovery 85% RESERVES AND RESOURCES (at Dec 31, 2012) Overview  Acquired

  22. Slide 22: Tanjianshan

    PRODUCTION OVERVIEW Location Qinghai Province, China Deposit Orogenic 90% Eldorado 5% First Institute of Geology and Ownership Mineral Exploration of Qinghai Province 5% Dachaidan Gold Mine Open pit gold mine Type Float roast Carbon in Leach Expected Life of Mine 5 years Recovery 81% Overview Strip

  23. Slide 23: White Mountain

    PRODUCTION OVERVIEW Location Jilin Province, China Deposit Orogenic 95% Eldorado Ownership 5% Jilin Tonghua Institute of Geology and Minerals Exploration and Development Underground gold mine Type Carbon in Leach plant Expected Life of Mine 9 years Recovery 80% Overview  Acquired by Eldorado from S

  24. Slide 24: Vila Nova iron ore mine

    PRODUCTION OVERVIEW Location Amapa State, Brazil Ownership 100% Eldorado Type Open pit iron ore mine Expected Life of Mine 9 years RESERVES AND RESOURCES (at Dec 31, 2012) Overview  Commercial production began in 2011 Proven + Probable Reserves 9.7 Mt @ 58.8% Fe 2013 Guidance Measured + Indicated R

  25. Slide 25: Stratoni

    PRODUCTION OVERVIEW Location Chalkidiki Peninsula, Northern Greece Deposit Replacement mixed sulphide 95% Eldorado Ownership 5% Aktor SA Underground drift and fill Type Multi-stage flotation Expected Life of Mine 5 years RESERVES AND RESOURCES (at Dec 31, 2012) 5.3 Moz Ag @ 184 g/t Proven + Probable

  26. Slide 26: Six development projects

     Six development projects: Olympias Skouries Perama Hill Certej Tocantinzinho Eastern Dragon www.eldoradogold.com 26

  27. Slide 27: Olympias construction

    CONSTRUCTION OVERVIEW Location Chalkidiki Peninsula, Northern Greece Deposit Replacement mixed sulfide 95% Eldorado Ownership 5% Aktor Investment Holdings Limited Underground mine Type (previously mined using underground drift and fill) Estimated Development Capital US$165 million (to Phase II UG pr

  28. Slide 28: Skouries construction

    CONSTRUCTION OVERVIEW Location Chalkidiki Peninsula, Northern Greece Deposit Gold-copper porphyry 95% Eldorado Ownership 5% Aktor Investment Holdings Limited Type Open pit and underground Strip Ratio (open pit) 0.7:1 Estimated Development Capital US$340 million (to plant production from open pit) Ov

  29. Slide 29: Perama Hill development

    DEVELOPMENT OVERVIEW Eastern Thrace, northern Location Greece Epithermal gold-silver vein Deposit deposit Ownership 100% Eldorado Type Open pit gold mine Expected Life of Mine 8 years 90% (Gold) Expected Recovery 60% (Silver) Estimated Development Capital US$220 million Production Expected Q1 2015 S

  30. Slide 30: Certej development

    DEVELOPMENT OVERVIEW “Golden Quadrilateral” area Location of the Apuseni Mountains, Western Romania Epithermal gold-silver Deposit deposit Ownership 80% Eldorado Open pit Type (Previously mined via shallow open pit) Expected Life of Mine 12 years Estimated Development Capital US$270 million Overview

  31. Slide 31: Tocantinzinho development

    DEVELOPMENT OVERVIEW Tapajos district, Para State, Location central Brazil Shallow, intrusion-hosted, Deposit non-refractory gold deposit Ownership 100% Eldorado Type Open pit gold mine Expected Life of Mine 11 years RESERVES AND RESOURCES (at Dec 31, 2012) Proven + Probable Reserves 1.9 Moz Au @ 1.

  32. Slide 32: Eastern Dragon development

    DEVELOPMENT OVERVIEW Location Heilongjiang Province, China Deposit High-grade, epithermal, gold-silver vein 95% Eldorado Ownership 5% County (Daxinglanling Yihua Development Company Ltd) Open pit and underground gold mine, Type CIL plant under construction Expected Life of Mine 7 years Expected Reco

  33. Slide 33: 2013 Exploration budget: US$98.5 million

     2013 Exploration budget: US$98.5 million Romania ($12m)  5 projects  34,000 meters Vancouver (Head Office) ($3.5m) Greece ($23m)  6 projects  47,000 meters Turkey ($12m) China ($22m)  4 projects  9 projects  25,000 meters  59,000 meters Brazil ($16m)  4 projects  16,000 meters Other Proj

  34. Slide 34: Summarized Financial Results

    Summarized Financial Results 2012 2011 Revenues (millions) $1,147.5 $1,103.7 Gold sold (ounces) 625,394 658,919 Average realized gold price ($/ounce) $1,674 $1,581 Cash operating costs ($/ounce sold) (1) $483 $405 Total cash cost ($/ounce sold) (1) $554 $472 Gross profit from gold mining operations(

  35. Slide 35: Reserves and resources by project

    Total Proven and Probable Total Measured and Indicated Inferred Resources Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (x1000) (Au g/t) (x1000) (x1000) (Au g/t) (x1000) (x1000) (Au g/t) (x1000) Certej (See Note 5) 106,700 1.27 4,380 24,400 1.01 800 Eastern Dragon 3,090 7.71 764 3,500

  36. Slide 36: TSX: ELD NYSE: EGO

    TSX: ELD NYSE: EGO Total shares outstanding (as at Dec 31, 2012): 714.3 M Investor Relations: Nancy Woo (604) 601-6650 ⋅ nancyw@eldoradogold.com www.eldoradogold.com 36

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