Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Investor Presentation (July 2011)
30 slides from Eldorado Gold's investor presentation, July 2011
Slide 1: Continuing to Build a High Quality Gold Company
Continuing to Build a High Quality Gold Company July 2011 www.eldoradogold.com 1
Slide 2: Forward Looking Statement
Forward Looking Statement 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. Thes
Slide 3: Worldwide Operations
Worldwide Operations Eldorado Gold is a Canadian gold producer with six operating mines, one mine under construction, two development projects and an extensive 2011 exploration program. We presently operate in China, Turkey, Brazil and Greece. www.eldoradogold.com 3
Slide 4: 2011 Strategy and Objectives
2011 Strategy and Objectives Focus on organic growth: Increase gold production by 15 - 20% to 715,000 - 770,000 oz at $375 $ - 395/oz cash cost Complete construction of two new mines Advance development projects Maintain production costs in lowest quartile Increase dividend Increase expl
Slide 5: Q1 2011 Operating Highlights
Q1 2011 Operating Highlights (amounts in US$ unless otherwise stated) Produced 148,577 oz of gold (cash operating cost $410/oz, total cash cost $462/oz) Sold 148,530 oz of gold at $1,397/oz $91.7 million cash from operating activities before changes in non-cash working capital ($0.17/share)
Slide 6: Expanding Margins
Expanding Margins 1600 1400 1200 1000 $935 oz 800 $800 $/o $658 600 $587 $279 $411 400 200 0 2006 2007 2008 2009 2010 Q1 2011 Total Cash Cost Cash Margins Realized Gold Price www.eldoradogold.com 6
Slide 7: Annual Gold Production
Annual Gold Production (in x1,000 1 000 oz) 800 700 600 500 400 300 200 100 0 2006 2007 2008 2009 2010 2011 (E) www.eldoradogold.com 7
Slide 8: Gold Resources and Reserves
Gold Resources and Reserves 35,000 30,000 old In-Situ (x1,000 oz) 25,000 20 000 20,000 Inferred 15,000 M+I P+P Go 10,000 5,000 0 2006 2007 2008 2009 2010 www.eldoradogold.com 8
Slide 9: Experienced Technical Team
Experienced Technical Team Norm Pitcher,, Chief Operating p g Officer Mining geologist with 25+ years experience in the exploration, development and operation of open pit and underground mines throughout the world. Paul Skayman, Sr. VP, Operations Metallurgist with 22+ years of mining industry exper
Slide 10: Experienced Technical Team
Experienced Technical Team Peter Lewis,, VP,, Exploration p Geologist with 20 years’ experience in mineral exploration, specializing in the structural controls of mineral deposits in worldwide geological settings. As a consultant, previous clients included Teck Resources, Barrick Gold, Newmont, Ivan
Slide 11: Gold Production Profile
Gold Production Profile 1,500 $500 1,200 $400 TZ 900 Perama Hill $300 0 oz $/oz z x 1,000 Eastern Dragon E D Efemçukuru 600 $200 White Mountain Tanjianshan a ja s a Jinfeng 300 $100 Kişladağ 0 $0 2009A 2010A 2011E 2012E 2013E 2014E 2015E Cash Operating Cost ($/oz) www.eldoradogold.com 11
Slide 12: Expansion Opportunities
Expansion Opportunities Mine Planned Anticipated Increase Anticipated Production (oz/yr) Timeframe (oz/yr) Kisladag 275,000 175,000 – 200,000 2014 Efemcukuru 120,000 35,000 – 45,000 2014 White Mountain 70,000 25,000 – 35,000 2013 E t Eastern D Dragon 80 000 80,000 70 000 – 90,000 70,000 90 000 2015
Slide 13: Enhanced Gold Production Profile
Enhanced Gold Production Profile 1,500 $500 TZ 1,200 $400 Perama Hill Eastern Dragon 900 Efemçukuru $300 0 oz $/oz z x 1,000 White Mountain Whit M t i Tanjianshan 600 $200 Jinfeng 300 Kişladağ $100 0 $0 2009A 2010A 2011E 2012E 2013E 2014E 2015E Cash Operating Cost ($/oz) www.eldoradogold.com 13
Slide 14: Diversifying our Gold Production
Diversifying our Gold Production Percentage of Eldorado’s gold production TZ Gold Production 2011 (E) Perama Hill Gold Production 2015 (E) 10% Eastern Dragon 11% Efemçukuru White Mountain Whit M t i Turkey Turkey Tanjianshan 53% 47% 43% China China Jinfeng Brazil 36% Greece Kişladağ www.eldoradogold
Slide 15: Kişladağ Mine, Turkey
Kişladağ Mine, Mine Turkey Location Uşak Province, Province Western Turkey Deposit Gold porphyry Ownership 100% Type Open pit, heap leach gold mine Commercial July 2006 production P+P reserves 10.2 M oz gold @ 0.74 g/t M+I resources 12.2 M oz gold @ 0.68 g/t 2011 Highlights Inferred resources 4.4 M
Slide 16: Efemçukuru Mine, Turkey
Efemçukuru Mine Mine, Turkey L Location ti I i Province, Izmir P i W Western t Turkey T k Deposit High grade epithermal gold vein Ownership 100% Type Underground gold mine Production Q 2, 2011 P+P P P reserves 1.5 M oz gold @ 9.10 g/t M+I resources 1.7 M oz gold @ 9.55 g/t 2011 Highlights Inferred r
Slide 17: Jinfeng Mine, China
Jinfeng Mine Mine, China Location Guizhou Province Province, China Deposit Carlin-type 82% Eldorado, 18% Guizhou Ownership Lannigou Gold Mine Limited Type Open pit and underground gold mine P+P reserves 1.9 M oz gold @ 4.03 g/t M+I resources 2.6 M oz gold @ 3.55 g/t Inferred 2011 Highlights 1.0 M oz
Slide 18: Tanjianshan Mine, China
Tanjianshan Mine, Mine China Location Qinghai Province Province, China Deposit Orogenic 90% Eldorado, 5% Qinghai Ownership Number One Geological Brigade, 5% D Dachaidan h id G Goldld Mi Mine Open pit gold mine, float-roast- Type CIL 2011 Highlights P+P reserves 587,000 oz gold @ 3.42 g/t • Mine and
Slide 19: White Mountain Mine, China
White Mountain Mine, Mine China L Location ti Jili P Jilin Province, i Chi China Deposit Orogenic 95% Eldorado, 5% Jilin Tonghua Ownership p Institute of Geology gy and Minerals Exploration and Development Type Underground gold mine, CIL plant P+P reserves 720,000 oz gold @ 3.74 g/t M+I resources 94
Slide 20: Vila Nova Mine, Brazil
Vila Nova Mine, Mine Brazil L Location ti A Amapa State, St t Brazil B il Ownership 100% Type Open pit iron ore mine P+P reserves 9.2 M tonnes (61.0% Fe) M+I resources 9.9 M tonnes (61.5% Fe) Inferred resources 2.0 M tonnes (61.2% Fe) Designed annual production capacity 900,000 ROM ore 2011 Highligh
Slide 21: Eastern Dragon Project, China
Eastern Dragon Project Project, China L Location ti H il Heilongjiang ji P Province, i Chi China Deposit High-grade, epithermal, gold-silver vein 95% Eldorado, Ownership 5% private joint venture partner Open pit and underground gold mine, Type CIL plant under construction Production Q4, 2011 Gold Si
Slide 22: Perama Hill Project, Greece
Perama Hill Project Project, Greece Location Eastern Thrace, northern Greece Deposit Epithermal non-refractory oxide Ownership 100% T Type O Open pit i P+P reserves 975,000 oz gold @ 3.13g/t M+I resources 1,382,000 oz gold @ 3.46 g/t I f Inferred d resources 554 000 oz ggold 554,000 ld @ 1 1.96 96 g
Slide 23: Tocantinzinho Project (TZ), Brazil
Tocantinzinho Project (TZ), (TZ) Brazil Tapajos district, district Para State, State Location central Brazil shallow, intrusion-hosted, non- Deposit refractory gold deposit Ownership 100% Type Open pit P+P reserves 1.9 M oz g gold @ 1.25 g g/t 2011 Highlights M+I resources 2.4 M oz gold @ 1.06g/t •
Slide 24: Where we Explore
Where we Explore 2011 Exploration budget: $54 million Allocation: 58% minesite and brownfield ($31 million) 42% greenfield ($23 million) www.eldoradogold.com 24
Slide 25: Brazil Drilling Programs
Brazil Drilling Programs Brownfields: 15,000 15 000 metres Early stage/reconnaissance: 4,500 metres Tapajos Region • Tocantinzinho: brownfields targets targets. 2011 plan includes 15,000 metres of diamond drilling (approx. 50-60 holes) • Agua Branca, Piranhas: early stage exploration Vila Nova i iro
Slide 26: China Drilling Programs
China Drilling Programs Minesite/brownfields: 67,500 metres Early stage: 25,500 metres Tanjianshan Eastern Dragon Region • 323, QLT deeps resource definition • Lode 5 resource definition • Xijingou, ZXS brownfields targets White Mountain Region • White Mountain ore body extension • Xiaoshiren, Dongd
Slide 27: Turkey Drilling Programs
Turkey Drilling Programs Minesite and brownfields: 12,500 metres Early stage/reconnaissance: 15,000 metres Kişladağ Minesite Eastern Pontides B Brownfields fi ld targets Atalan Prospect Şebin Dölek prospects Şebin, • Istanbul • Izmir I i Efemçukuru Minesite Malatya District • Northwest Kestane Belen
Slide 28: Efemçukuru Drilling Programs
Efemçukuru Drilling Programs Kişladağ Minesite Brownfields targets Northwest Extension Target • Istanbul • Izmir Efemçukuru Minesite • Northwest Kestane Beleni • Kokarpinar Geological map of the Efemcukuru deposit area, showing surface traces of mineralized veins, locations of 2010 Kokarpinar vein d
Slide 29: Strengths
Strengths Experienced technical team Strong balance sheet Growth from current assets in four jurisdictions Lowest L t quartile til off costs t Proven record of execution www.eldoradogold.com 29
Slide 30: Thank you
Thank you TSX: ELD NYSE: EGO ASX: EAU Shares Outstanding (as of June 30, 2011): 560.4 M Investor Relations: Nancy Woo (604) 601-6650 · nancyw@eldoradogold.com www.eldoradogold.com 30