Name of the Project
Skouries gold/copper project.

Location
Halkidiki peninsula, northern Greece.

Project Owner/s
Eldorado Gold, through its wholly owned subsidiary Hellas Gold.

Project Description
The gold/copper porphyry deposit is planned to be mined using a combination of conventional openpit and underground mining techniques. The mineral processing facilities will produce doré and a gold/copper concentrate.

The project has total proven and probable reserves of 157.67-million tonnes grading 0.74 g/t gold and 0.49% copper.

Mineral resources have been estimated at 289.28-million tonnes grading 0.58 g/t gold and 0.43% copper, with inferred mineral resources of 170.14-million tonnes grading 0.31 g/t gold and 0.34% copper.

Gold production has been estimated at 140 000 oz/y. Average copper production is estimated at 67-million pounds a year.

Skouries has been designed as a two-phase operation.

The current project plan provides for an initial 20-year mine life. The project incorporates filtered-tailings technology, which removes up to 90% of the water from tailings and reduces the tailings-management footprint.

Potential Job Creation
The on-site workforce exceeded 3 200 employees and contractors during the second quarter of 2026. Workforce levels are expected to decline significantly in the third quarter as construction is completed, contractors are demobilised and staffing normalises for operations.

Net Present Value/Internal Rate of Return
The project has an after-tax estimated internal rate of return of 19%, with a payback of four years.

Capital Expenditure
Forecast total Phase 2 project capital is about $1.315-billion. As of March 31, 2026, cumulative Phase 2 project capital invested totalled $1.116-billion. The project remains fully funded through operating cash flow, cash and debt financing.

Planned Start/End Date
Eldorado continues to target first copper-gold concentrate in the third quarter of 2026 and commercial production in the fourth quarter, subject to final energisation, integrated commissioning and ramp-up.

Latest Developments
Eldorado Gold reported on July 20, 2026, that Skouries was in the final stages of construction and had entered staged commissioning, with first ore processed through the crushing circuit.

Wet, dry and hot commissioning activities are progressing across the crushing, grinding, flotation, concentrate-handling and filtered-tailings circuits, with systems being handed over from construction to the commissioning and operations team in stages.

Final site energisation remains subject to inspection, testing, metering installation and sign-off by the Greek power authority. Eldorado has added supplementary generators to maintain commissioning readiness and support process-plant activities in the interim.

Openpit mining is ahead of schedule. Total ore stockpiles have reached about 3.9-million tonnes, including about 3.4-million tonnes from the openpit, providing feed for commissioning and the production ramp-up throughout 2026.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Eldorado Gold VP – investor relations, communications and external affairs Lynette Gouldkeep, tel +1 647 271 2827 or +1 888 353 8166.