Eldorado Gold Corporation · TSX:ELD
Eldorado Gold — Investor Presentation (October 2011)
34 slides from Eldorado Gold's investor presentation, October 2011
Slide 1: Continuing to Build a High Quality Gold Company
Continuing to Build a High g QQualityy Gold Company p y October 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. The
Slide 3: Worldwide Operations
Worldwide Operations Eldorado Gold is a Canadian gold producer with six operating mines, one mine under construction,, two development p projects p j and an extensive 2011 exploration p p program. g We p presently y 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 from fully operating mines to approx. 650,000 oz at $400/oz cash operating cost Process approx. 40,000 oz of gold in flotation and gravity concentrate from Efemçukuru Construct two new mines Advance development pr
Slide 5: 2011 Operating Highlights
2011 Operating Highlights (amounts in US$ unless otherwise stated) Year-to- Q1 2011 Q2 2011 Date Gold Production (oz) 148,577 162,429 311,006 Gold Sales (oz) 148,530 162,164 310,694 Realized Gold Price $1,397 $1,510 $1,456 Cash Operating Cost $410 $397 $403 Total Cash Cost $462 $477 $470 Cash flow f
Slide 6: 2011 Operating Highlights
2011 Operating Highlights (amounts in US$ unless otherwise stated) Year-to- Q1 2011 Q2 2011 Q3 2011 Date Gold Production ((oz)) 148,577 , 162,429 , 179,195 , 490,201 , Cash Operating Cost $410 $397 $397 $401 Dividend C$0.05* C$0.06** C$0.11 * Attributable to 2010 performance ** Paid to shareholders
Slide 7: Expanding Margins
Expanding Margins 1600 1400 1200 1000 $986 $/oz 800 $800 $658 600 $587 $279 $411 400 200 0 2006 2007 2008 2009 2010 H1 2011 Total Cash Cost Cash Margins Realized Gold Price www.eldoradogold.com 7
Slide 8: Annual Gold Production
Annual Gold Production (in x1,000 x1 000 oz) 800 700 600 500 400 300 200 100 0 2006 2007 2008 2009 2010 2011 (E)* (E) * Gradient area: 40,000 oz of gold in flotation and gravity concentrate from Efemçukuru www.eldoradogold.com 8
Slide 9: Gold Resources and Reserves
Gold Resources and Reserves 32,000 28,000 24,000 oz) Gold In-Situ (x1,000 o 20,000 16,000 12,000 8,000 4,000 0 2006 2007 2008 2009 2010 M+I Inferred P+P www.eldoradogold.com 9
Slide 10: Experienced Technical Team
Experienced Technical Team Norm Pitcher, Chief Operating Officer Mining geologist with 25+ years 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 exp
Slide 11: Experienced Technical Team
Experienced Technical Team Peter Lewis, VP, Exploration Geologist g with 20 yyears’ experience p in mineral exploration, p , specializing p g in the structural controls of mineral deposits in worldwide geological settings. As a consultant, previous clients included Teck Resources, Barrick Gold, Newm
Slide 12: Gold Production Profile
Gold Production Profile 1,500 $500 1,200 $400 TZ 900 Perama Hill $300 x 1,000 oz Eastern Dragon $/oz Efemçukuru 600 White Mountain $200 Tanjianshan Jinfeng 300 $100 Kişladağ 0 $0 2009A 2010A 2011E 2012E 2013E 2014E 2015E Cash Operating Cost ($/oz) www.eldoradogold.com 12
Slide 13: Expansion Opportunities
Expansion Opportunities Annualized Planned Anticipated Expansion Expansion Mine Production Increase Production Completed (oz/yr) (o /y ) (oz/yr) (o /y ) ( / ) (oz/yr) Kisladag 275,000 175,000 - 225,000 475,000 2014 Efemcukuru 120,000 35,000 - 45,000 160,000 2014 White Mountain 70,000 25,000 - 35,000
Slide 14: Enhanced Gold Production Profile
Enhanced Gold Production Profile 1,500 $500 1,200 $400 900 $300 x 1,000 oz $/oz 600 $200 300 $100 0 $0 2009A 2010A 2011E 2012E 2013E 2014E 2015E Cash Operating Cost ($/oz) www.eldoradogold.com 14
Slide 15: Diversifying our Gold Production
Diversifying our Gold Production Percentage of Eldorado’s gold production Gold Production 2011 (E) Gold Production 2015 (E) 10% 11% Turkey Turkey * 53% 47% China China 49% 30% Brazil * Includes 40,000 oz of gold in flotation and Greece gravity concentrate from Efemcukuru www.eldoradogold.com 15
Slide 16: Kişladağ Mine, Turkey
Kişladağ Mine, Turkey Location Uşak Province, Western Turkey Deposit Gold porphyry Ownership 100% Type Open pit, heap leach gold mine Commercial July 2006 production d ti 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 • Received supplemental EIA Positi
Slide 17: Kişladağ Mine Expansion (Phase IV)
Kişladağ Mine Expansion (Phase IV) Highlights Current production rate (crushing, screening, stacking) 12.5 million tonnes / year Expanded production rate (crushing, screening, stacking) 25.0 million tonnes / year Expanded production rate, average 475,000 ounces / year LOM strip ratio 1.4:1 ROM ore t
Slide 18: Kişladağ Expanded Production
Kişladağ Expanded Production 600 $500 500 $400 400 $300 x 1,000 oz $/oz 300 $200 200 $100 100 0 $0 2012 2013 2014 2015 2016 Cash Operating Cost (US$/oz) www.eldoradogold.com 18
Slide 19: Efemçukuru Mine, Turkey
Efemçukuru Mine, Turkey Location Izmir Province, Western Turkey Deposit High grade epithermal gold vein Ownership 100% yp Type Underground g g gold mine Production Q 2, 2011 P+P reserves 1.5 M oz gold @ 9.10 g/t 2011 Highlights M+I resources 1.7 M oz gold @ 9.55 g/t • Received Trial Operating Permit
Slide 20: Jinfeng Mine, China
Jinfeng Mine, China Location Guizhou Province, China Deposit Carlin type 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 g
Slide 21: Tanjianshan Mine, China
Tanjianshan Mine, China Location Qinghai Province, China Deposit Orogenic 90% Eldorado, 5% Qinghai Ownership Number One Geological Brigade, 5% Dachaidan Gold Mine Type Open pit gold mine mine, float-roast-CIL float roast CIL P+P reserves 587,000 oz gold @ 3.42 g/t 2011 Highlights M+I resources 777,0
Slide 22: White Mountain Mine, China
White Mountain Mine, China Location Jilin Province, China Deposit Orogenic 95% Eldorado, 5% Jilin Tonghua Ownership Institute of Geology and Minerals Exploration and Development T Type U d Underground d gold ld mine, i CIL plant l t P+P reserves 720,000 oz gold @ 3.74 g/t M+I resources 946,000 oz go
Slide 23: Vila Nova Mine, Brazil
Vila Nova Mine, Brazil Location Amapa State, Brazil 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 9.9 (61.5% 5% Fe) Inferred resources 2.0 M tonnes (61.2% Fe) 900,000 ROM Designed annual production capacity 2011 Highlights ore • Signif
Slide 24: Eastern Dragon Project, China
Eastern Dragon Project, China Location Heilongjiang Province, China Deposit High-grade, epithermal, gold-silver vein 95% Eldorado, Ownership 5% County (DaxinglanlingYihua Development Company Limited) Open pit and underground gold mine mine, Type CIL plant under construction Production Q4, 2011 Gold
Slide 25: Perama Hill Project, Greece
Perama Hill Project, Greece Location Eastern Thrace, northern Greece Deposit Epithermal non-refractory oxide Ownership 100% Type Open pit P+P P P reserves 975,000 oz gold @ 3.13g/t M+I resources 1,382,000 oz gold @ 3.46 g/t Inferred resources 554,000 oz gold @ 1.96 g/t 2011 Highlights Strip ratio 0.
Slide 26: Tocantinzinho Project (TZ), Brazil
Tocantinzinho Project (TZ), Brazil Tapajos district, Para State, Location central Brazil shallow, intrusion-hosted, non- Deposit refractory gold deposit Ownership 100% Type Open pit P+P reserves 1.9 M oz gold @ 1.25 g/t 2011 Highlights M+I resources 2.4 M oz gold @ 1.06g/t • Prefeasibility y Studyy
Slide 27: 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 27
Slide 28: Brazil Drilling Programs
Brazil Drilling Programs Brownfields: 15,000 metres Early stage/reconnaissance: 4 500 metres 4,500 Tapajos Region • Tocantinzinho: brownfields targets. 2011 plan includes 15,000 metres of diamond drilling (approx. 50-60 holes) • Agua Branca, Piranhas: early stage exploration Vila Nova iron ore mine
Slide 29: China Drilling Programs
China Drilling Programs Minesite/brownfields: 67,500 metres Early stage: 25 25,500 500 metres Tanjianshan Eastern Dragon Region • 323, QLT deeps resource definition • Lode 5 resource definition • Xijingou, j g , ZXS brownfields targets g White Mountain Region • White Mountain ore body extension • Xi
Slide 30: China Drilling Programs – White Mountain District
China Drilling Programs – White M Mountain i DiDistrict i Intercepts in this area outline a new mineralized zone, open both along strike to the north and down dip p www.eldoradogold.com 30
Slide 31: Turkey Drilling Programs
Turkey Drilling Programs Minesite and brownfields: 12,500 metres Early stage/reconnaissance: 15 15,000 000 metres Kişladağ Minesite Eastern Pontides Brownfields targets Atalan Prospect Şebin, Dölek prospects • Istanbul • Izmir Efemçukuru Minesite Malatya District • Northwest Kestane Beleni MH I0CG p
Slide 32: Efemçukuru Drilling Programs
Efemçukuru Drilling Programs Kestani Beleni Vein 2011 surface exploration program at Efemcukuru includes over 11,000 metres of planned drilling focusing on two main areas: the northwest along-strike extension of the Kestani Beleni vein, and the parallel Kokarpinar vein, located 400 to 500 metres to
Slide 33: Strengths
Strengths Experienced E i d ttechnical h i l tteam Strong balance sheet Growth G th from f currentt assets t in i four f jurisdictions j i di ti Lowest quartile of costs Proven P record d off execution ti www.eldoradogold.com 33
Slide 34: Thank you
Th k you Thank TSX: ELD NYSE: EGO ASX: EAU Shares Outstanding (as of September 30, 2011): 560.3 M Investor Relations: Nancy Woo (604) 601-6650 · nancyw@eldoradogold.com www.eldoradogold.com 34