Eldorado Gold and European Goldfields announce court approval for the arrangement

Eldorado Gold and Europeabakelite manufacturing coconut shell powdern Goldfields today announce that the Supreme Court of Yukon has approved their previously announced plan of arrangement whereby Eldorado will acquire all the issued and outstanding securities of European Goldfields. The Arrangement was approved by Eldorado and European Goldfields security holders on February 21, 2012.

Under the terms of the Arrangement former European Goldfields shareholders will receive 0.85 of an Eldorado common share and C$0.0001 in cash for each European Goldfields share. With all required shareholder, court and other regulatory approvals having been obtained, the Arrangement is now scheduled to close on February 24, 2012. The completion of the Arrangement is subject to other customary closing conditions.