Slide 1: Eldorado
eldorado
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
Slide 3: Olympias Project Location
Olympias Project Location Mine Development Drill ready targets N Road Permit boundary Village Power line Olympias 8.1 km Tunnel 10km Piavitsa Stratoni Operation radius Stratoni Port Facility Fisoka Skouries Tsikara 1 km www.eldoradogold.com 3
Slide 4: Olympias Mine Overview
Olympias Mine Overview Deposit Type Replacement mixed sulphide Mine Life 25 years Initial Capex ~US$165m to achieve Phase II U/G production Mining Rate Phase I –Tailings – 720 ktpa Phase II – Underground – 400-500 ktpa Phase III – Underground Expansion – 850 ktpa Payable Gold Phase I – Tailings – 50
Slide 5: Regional Geology
Olympias Regional Geology Biotite Gneiss Schist Amphibolite Gneiss Marble Intrusive www.eldoradogold.com 5
Slide 6: Orebody Plan View
Olympias Orebody Plan View NW Upper West N Mined Out • Deposit is massive sulphide strata bound replacement mineralization at the contact Schist Plunge East between marble and gneiss Amphibolite Gneiss Marble Intermediate West • West Orebody has a width of 200 – 400m, Intrusive average thicknesses o
Slide 7: Orebody Long-Section
Olympias Orebody Long-Section NW SE Schist Amphibolite Gneiss Marble Upper West Intrusive Intermediate West South Extension Ore Gneiss Fault Marble • The ore consists mainly of massive sulphides: pyrite, arsenopyrite, sphalerite and galena www.eldoradogold.com 7
Slide 8: Reserves & Resources
Olympias Reserves & Resources Au Grade Ag Grade Pb Grade Zn Grade Contained Au Contained Ag Contained Pb Contained Zn Location Tonnes (g/t) (g/t) (%) (%) (oz) (oz) (t) (t) Schist Underground Proven 8,886,000 8.7 128.0 4.30% 5.70% Gneiss Amphibolite 2,470,000 36,500,000 380,000 508,000 Probable 4,686
Slide 9: Existing Infrastructure
Olympias Existing Infrastructure Rehabilitated Old Tailings Underground 2.4 Mt @ 3.4 g/t Au Workings Existing plant Waste Olympiada Rock Olympias Mine Site East Orebody West Orebody Shaft 9
Slide 10: Phase I Overview: Tailings Reprocessing
Olympias Phase 1 – Overview Existing Tailings at Olympias Tailings Re-Processing Mill Re-Commissioning Schist Underground Refurbishment Amphibolite Gneiss 720,000 tpa Marble Sale of Concentrate Intrusive • Processing tailings through existing plant • Over 270,000oz gold still in tailings •
Slide 11: Current Status: Olympias Mill
Olympias Phase 1 – Current Status Refurbishing of b. a. Olympias Mill Schist • Flotation plant roof replaced and buildings refurbished Amphibolite Gneiss • Civil works completed Marble • New power substation Intrusive installation complete • Tanks and piping replaced • New equipment installed (inc
Slide 12: Current Status: Underground Workings
Olympias Phase 1 – Current Status cont’d… Underground Workings • Refurbishment of existing Olympias Mine Schist ramp 67% complete with 2,337m of 3,500m rehabilitated Amphibolite Gneiss Marble • Involves removal/refurbishment of steel arches and old timber support, rock-bolting Intrusive and shotcr
Slide 13: Phase II Overview: Underground Production
Olympias Phase 2 - Overview Secondary Access at Olympias Underground Production 400,000 - 500,000 tpa Sale of Concentrates Schist Amphibolite Gneiss • Mining from existing U/G infrastructure Marble Intrusive • Mill throughput of 400,000-500,000 tpa • Producing AsPy, Pb-Ag, and Zn concentrates
Slide 14: Underground Mining Method
Olympias Phase 2 – Underground Mining Method Drift & Fill • Same mining method as Stratoni Schist • Experienced transferrable workforce Amphibolite Gneiss Marble • Low dilution - sharp contact between ore and waste Intrusive OPTION 1 - SMALL WIDTH AREAS OPTION 2 - LARGE WIDTH AREAS Backfill Backfill
Slide 15: Olympias Secondary Access
Olympias Phase 2 –Olympias Secondary Access Secondary Access Portal at Olympias Secondary Access • A 5m x 5m decline adit connecting Olympias Flotation plant to Olympias underground. Schist Amphibolite Gneiss • Delivery of phase 2 ore from Olympias Marble underground directly to the plant for proces
Slide 16: Product Sold
Olympias Phase 2 –Product Sold Concentrates from Underground Production Mine ROM Schist Amphibolite Gneiss Grinding Marble Intrusive FLOTATION Crushing Sell Py + AsPy CON. Tailings to Backfill Sell ZINC CON. Sell LEAD/SILVER CON. Aggregate and Backfill www.eldoradogold.com 16
Slide 17: Phase III Overview: Underground Expansion
Olympias Phase 3 - Overview Underground schematic of Olylmpias orebody Underground Expansion 850,000 tpa New Mill + Gold Plant Schist Amphibolite Gneiss • New concentrator and gold plant in Stratoni valley Marble • Decline access to mine from Stratoni Intrusive • Mill throughput of 850,000 tpa
Slide 18: Schematic Long-Section U/G
Olympias Phase 3 – Schematic Long-Section U/G Schist Amphibolite Gneiss Marble Intrusive Phase 3 Mining 430 VENT DRIFT • Underground fully developed and mining rate increased to 850,000 tpa • All ore passed to 610 Haulage and conveyed out of the mine 8km through Stratoni decline • Tails from process
Slide 19: Olympias-Stratoni Tunnel
Olympias Phase 3 – Olympias-Stratoni Tunnel Stratoni Tunnel 8.1 km tunnel connecting Olympias U/G to Stratoni • A 7m x 6m decline adit connecting new Stratoni Plant to Olympias underground. Schist • Delivery of phase 3 ore from Olympias underground Amphibolite Gneiss directly to the plant for proces
Slide 20: Gold Plant
Olympias Phase 3 – Gold Plant Flash Smelting Route for Gold Plant Schist Amphibolite Gneiss Marble Intrusive www.eldoradogold.com 20
Slide 21: Environmental Strategy
Olympias Environmental Strategy Rehabilitation of Olympias valley to greenfield state via a phased approach Phase One Schist • Rehabilitation of the historic dumps and tailings site, replanting and re-profiling once Amphibolite Gneiss Before tailings have been processed Marble • Waste material fro
Slide 22: Operating Costs
Olympias Operating Costs On-Site Operating Costs €/t $/t Refurbished Olympias Mill Phase I - Tailings Processing 15.45 20.09 Phase II - ROM 400-500 ktpa 77.10 100.23 Schist Phase III - ROM 850 ktpa 66.10 85.93 Amphibolite Gneiss Phase III - Flash Smelting (per t conc.) 65.00 Marble 84.50 Intrusive O
Slide 23: Capital Costs
Olympias Capital Costs 5 year development capital estimated at $207 mln; including $71 mln for development of new accesses (ie. 8.1km decline from Stratoni required for phase 3 production). Further capital required to achieve Phase 3 production (new concentrator and gold plant at Stratoni) has b
Slide 24: Development Schedule
Olympias Development Schedule 2012 2013 Schist 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Amphibolite Gneiss Olympias Plant Refurbishment Marble Phase I Production - tails treatment Intrusive Plant replumbing Activity Description UG Engineering Design Secondary Access
Slide 25: Future Considerations
Olympias Future Considerations Strong development rates would allow for phase 2 to begin in 2 ½ years. Strong potential to grow current reserve through underground exploration drilling from current Schist Amphibolite Gneiss infrastructure on 210 level. Marble Stratoni decline will provide an e
Slide 26: Photos - Tailings & Plant
Olympias Photos - Tailings & Plant Existing Tailings at Olympias Schist Amphibolite Gneiss Marble Intrusive Olympias Flotation Plant www.eldoradogold.com 26
Slide 27: Photos - Plant Refurbishment
Olympias Photos - Plant Refurbishment Before 1 Before 2 Before 3 Schist Amphibolite Gneiss Marble Intrusive After 1 After 2 After 3 www.eldoradogold.com 27
Slide 28: Photos - Underground Refurbishment
Olympias Photos - Underground Refurbishment Before 1 After 1 Schist Amphibolite Gneiss Marble Intrusive Before 2 After 2 www.eldoradogold.com 28
Slide 29: Thank You
Thank You TSX: ELD NYSE: EGO Total shares outstanding (as of June 30, 2012): 712.9 M Investor Relations: Nancy Woo (604) 601-6650 ⋅ nancyw@eldoradogold.com www.eldoradogold.com 29