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
First concentrate production was achieved in September 2026.

Latest Developments
The project has been designated as a strategic project under the EU's Critical Raw Materials Act (CRMA).

The designation recognises the importance of the project in supporting the EU's efforts to strengthen domestic supply chains for critical raw materials and enhance long-term supply security.

Copper is listed as a strategic raw material under the CRMA and is a critical metal for electrification, renewable-energy infrastructure and advanced manufacturing, as well as Europe’s broader energy transition.

Eldorado started operating the Skouries mine, having produced its first gold and copper concentrate in September. 

Through the CRMA, the EU aims to source 10% of its 17 designated strategic raw materials from within the EU and 40% of strategic raw materials processed within the EU, with 25% of its strategic raw materials stemming from recycling. 

The region's strategic raw materials include lithium, cobalt, manganese, graphite, rare earths, copper and tungsten.

Skouries' recognition as a strategic project under the CRMA enables it to benefit from the EU's accelerated administrative support and easier access to financing.

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.