<SEC-DOCUMENT>0001137171-17-000046.txt : 20170428
<SEC-HEADER>0001137171-17-000046.hdr.sgml : 20170428
<ACCEPTANCE-DATETIME>20170428164829
ACCESSION NUMBER:		0001137171-17-000046
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20170331
FILED AS OF DATE:		20170428
DATE AS OF CHANGE:		20170428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ELDORADO GOLD CORP /FI
		CENTRAL INDEX KEY:			0000918608
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31522
		FILM NUMBER:		17796470

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1188 - BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2B5
		BUSINESS PHONE:		(604) 687-4018

	MAIL ADDRESS:	
		STREET 1:		SUITE 1188 - BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2B5

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ELDORADO CORP LTD                                       /FI
		DATE OF NAME CHANGE:	19960701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ELDORADO GOLD CORP                                      /FI
		DATE OF NAME CHANGE:	19940203
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>eldorado6k04282017.htm
<DESCRIPTION>ELDORADO GOLD CORPORATION - 6-K
<TEXT>
<html>
<head>
     <title>CA Filed by Filing Services Canada Inc. 403-717-3898</title>
     <meta name="GENERATOR" content="Microsoft FrontPage 4.0">
     <meta name="ProgId" content="FrontPage.Editor.Document">
</head>
<body>

<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">&nbsp;</p>

<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>FORM
6-K</b></p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt" align="center"><br>
</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">UNITED
STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Report
of Foreign Private Issuer</b></p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Pursuant
to Rule 13a-16 or 15d-16<br>
of the Securities Exchange Act of 1934</b></p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">For the month of
April, 2017</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;
</p>
<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Commission
File Number &nbsp;<b>001-31522</b></p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<table style="font-size:10pt" cellspacing="0" align="center">
  <tr>
    <td width="640">
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Eldorado
      Gold Corporation<br>
      </b>(Translation of registrant's name into English)</p>
    </td>
  </tr>
  <tr>
    <td width="640">
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b><br>
      1188-550
      Burrard Street</b></p>
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Bentall
      5</b></p>
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Vancouver,
      B.C.</b></p>
      <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Canada
      &nbsp;V6C 2B5<br>
      </b>(Address of principal executive offices)<br>
      </p>
    </td>
  </tr>
</table>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">Form
20-F....[<b> &nbsp;&nbsp;</b>]..... Form 40-F...[.<b>X</b>.]...</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____</p>
<p style="margin-top:5pt; margin-bottom:5pt; padding-left:36pt; font-family:Times New Roman"><b>Note:
</b>Regulation&nbsp;S-T Rule&nbsp;101(b)(1) only permits the submission in paper
of a Form&nbsp;6-K if submitted solely to provide an attached annual report to
security holders.</p>

<p style="margin-top: 5pt; margin-bottom: 5pt; padding-left: 36pt; font-family: Times New Roman">&nbsp;</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____</p>
<p style="margin-top:5pt; margin-bottom:5pt; padding-left:36pt; font-family:Times New Roman"><b>Note:
</b>Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits the submission in paper
of a Form&nbsp;6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of
the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's &quot;home country&quot;), or under the rules of the
home country exchange on which the registrant's securities are traded, as long
as the report or other document is not a press release, is not required to be
and has not been distributed to the registrant's security holders, and, if
discussing a material event, has already been the subject of a Form&nbsp;6-K
submission or other Commission filing on EDGAR.</p>

<p style="margin-top: 5pt; margin-bottom: 5pt; padding-left: 36pt; font-family: Times New Roman">&nbsp;</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Indicate
by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center">Yes
&nbsp;[ &nbsp;&nbsp;&nbsp;] &nbsp;No [ <b>X </b>]</p>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">If
&quot;Yes&quot; is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ________</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="page-break-before:always; margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<hr>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<br>
<p style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align="center"><b>Signatures</b></p>
<p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
</p>
<div align="center">
  <center>
  <table style="font-size:10pt" cellspacing="0" width="100%">
    <tr>
      <td valign="top" width="319.2">
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Date:&nbsp;April
        28, 2017</p>
      </td>
      <td valign="top" width="319.2">
        <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><b>ELDORADO
        GOLD CORPORATION</b></p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin:0pt; font-family:Times New Roman; font-size:12pt"><br>
        </p>
        <p style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><u>/s/
        Karen Aram<br>
        <br>
        </u></p>
        <p style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Karen
        Aram, Corporate Secretary</p>
      </td>
    </tr>
  </table>
  </center>
</div>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="margin:0pt; font-family:Times New Roman; font-size:12pt">&nbsp;</p>
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">Exhibits</p>
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt"> </p>
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">99.1&nbsp;&nbsp;

<a href="fins.htm">Unaudited Condensed Consolidated Financial Statements for the First Quarter - March 31, 2017</p>

<p style="font: 12pt Times New Roman; margin: 0pt">99.2 &nbsp;&nbsp;<a href="mda.htm">Management Discussion and Analysis for the First Quarter - March 31, 2017</a></p>

<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">99.3 &nbsp;&nbsp;<a href="ceo.htm">Form 52-109F2 Certification of Interim Filings - CEO</a></i></p>



<p style="font: 12pt Times New Roman; margin: 0pt"></p>

<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">99.4 &nbsp;&nbsp;<a href="cfo.htm">Form 52-109F2 Certification of Interim Filings - CFO</a></p>

<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">&nbsp;</p>
<hr>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>fins.htm
<DESCRIPTION>UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE FIRST QUARTER - MARCH 31, 2017
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD></TD></TR></TABLE>

<P STYLE="color: silver; font: 26pt/120% Times New Roman, Times, Serif; margin: 0 0 7.1pt; text-align: right"><IMG SRC="image1.jpg" ALT="" STYLE="width: 352px; height: 120px">&nbsp;</P>

<P STYLE="font: bold 12pt/normal Times New Roman, Times, Serif; margin: 0 1.8pt 0 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 12pt/normal Times New Roman, Times, Serif; margin: 0 1.8pt 0 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 12pt/normal Times New Roman, Times, Serif; margin: 0 1.8pt 0 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 12pt/normal Times New Roman, Times, Serif; margin: 0 1.8pt 0 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 12pt/normal Times New Roman, Times, Serif; margin: 0 1.8pt 0 0.5in; text-indent: 0in">&#9;March 31, 2017&#9;Unaudited
Condensed Consolidated Financial Statements</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 1.8pt 0 0; text-indent: 0in"><FONT STYLE="font-weight: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-style: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in"><FONT STYLE="font-style: normal"><B>&#9;</B></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font-style: normal"><B>&#9;Suite
1188, 550 Burrard Street</B></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font-style: normal"><B>&#9;Vancouver,
British Columbia</B></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font-style: normal"><B>&#9;V6C
2B5</B></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font-style: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font-style: normal"><B>&#9;Phone:
(604) 687-4018</B></FONT></P>

<P STYLE="font: italic 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0in; text-align: right"><FONT STYLE="font-style: normal"><B>&#9;Fax:
(604) 687-4026</B></FONT></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Unaudited Condensed
Consolidated Balance Sheets</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars)</P>



<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 29%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; font: 9pt/115% Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B><I>Note</I></B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 9pt/115% Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>March 31, 2017</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: bottom; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 9pt/115% Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>December 31, 2016</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>$</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>ASSETS</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>Current assets</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Cash and cash equivalents</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">642,618</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">883,171</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Term deposits</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">231,258</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">5,292</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Restricted cash </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">244</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">240</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Marketable securities <B>&nbsp;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">45,191</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">28,327</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Accounts receivable and other</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">52,121</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">54,315</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Inventories</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">126,913</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">120,830</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">1,098,345</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">1,092,175</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Other assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">11,938</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">48,297</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Defined benefit pension plan</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">12,739</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">11,620</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Property, plant and equipment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">3,698,141</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">3,645,827</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">4,821,163</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">4,797,919</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>LIABILITIES &amp; EQUITY</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>Current liabilities</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Accounts payable and accrued liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">104,397</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">90,705</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">104,397</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">90,705</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Debt</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><I>5</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">591,845</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">591,589</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Defined benefit pension plan</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">10,928</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">10,882</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Asset retirement obligations</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">89,710</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">89,778</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Deferred income tax liabilities</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">442,933</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">443,501</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">1,239,813</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">1,226,455</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>Equity</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Share capital</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">2,819,821</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">2,819,101</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Treasury stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(8,000)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(7,794)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Contributed surplus</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">2,609,055</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">2,606,567</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Accumulated other comprehensive income (loss)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">7,653</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(7,172)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">Deficit</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(1,934,800)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">(1,928,024)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>Total equity attributable to shareholders of the Company</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">3,493,729</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">3,482,678</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Times New Roman, Times, Serif"><B>Attributable to non-controlling interests</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">87,621</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">88,786</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">3,581,350</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">3,571,464</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">4,821,163</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 9pt/115% Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Times New Roman, Times, Serif">4,797,919</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0 0 7.1pt"><B>Approved on behalf of the Board of Directors</B></P>

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin: 0 0 7.1pt">&nbsp;</P>

<P STYLE="font: 11pt/120% Times New Roman, Times, Serif; margin: 0 0 7.1pt"><I>(Signed)</I> <I>John Webster &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>Director&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <I>(Signed)</I>
<I>Paul N. Wright &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>Director</P>



<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral
part of these consolidated financial statements.</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Unaudited Condensed
Consolidated Income Statements<FONT STYLE="font-size: 9pt; color: windowtext"> </FONT></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars except per share amounts)</P>



<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>For the quarter ended March 31</B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><I>Note</I></B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2017</B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><I>(restated)*</I></FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Revenue</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Metal sales</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">111,880</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">94,693</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Cost of sales</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Production costs</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">50,688</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">45,207</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Inventory write-down </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,346</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Depreciation and amortization</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">18,064</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">18,968</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">68,752</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">65,521</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Gross profit</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">43,128</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">29,172</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Exploration expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,247</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,961</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Mine standby costs </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,031</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">9,558</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Other operating items</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,133</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">General and administrative expenses</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">11,614</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">9,467</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Defined benefit pension plan expense</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">831</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">283</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Share based payments</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>7</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,128</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,701</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Other write-down of assets</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,054</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Foreign exchange loss (gain)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">88</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(3,440)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Operating profit </B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">16,002</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">7,642</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Loss on disposal of assets</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">307</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">289</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Loss (gain) on marketable securities and other investments</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(34)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,317</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Other expense (income)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,349)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,695</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Asset retirement obligation accretion</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">523</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">449</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Interest and financing costs</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,110</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,695</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) from continuing operations before income tax</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">16,445</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(4,803)</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Income tax expense </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">10,776</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,795</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) from continuing operations </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,669</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(9,598)</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) from discontinued operations </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>4</I></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(3,000)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,705</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) for the period</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,669</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(3,893)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Attributable to:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Shareholders of the Company</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,834</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,478)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Non-controlling interests</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,165)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,415)</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) for the period</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,669</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(3,893)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) attributable to shareholders of the Company</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Continuing operations</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">6,834</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(7,938)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Discontinued operations</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(3,000)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,460</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,834</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,478)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Weighted average number of shares outstanding (thousands)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Basic</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">716,600</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">716,583</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Diluted</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">717,283</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">716,583</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) per share attributable to shareholders </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>of the Company:</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Basic profit (loss) per share </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0.01</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.00)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Diluted profit (loss) per share</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0.01</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.00)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) per share attributable to shareholders </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>of the Company - continuing operations:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Basic profit (loss) per share </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0.01</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.01)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Diluted profit (loss) per share</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">0.01</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(0.01)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP COLSPAN="2" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><I>*See note 4</I></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral
part of these consolidated financial statements.</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Unaudited Condensed
Consolidated Statements of Comprehensive Income</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars)</P>



<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: top; width: 61%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>For the quarter ended March 31</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>2017</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>2016</B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit (loss) for the period</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,669</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(3,893)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Other comprehensive income (loss):</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Change in fair value of available-for-sale financial assets, net of income</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">14,720</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">9,689</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">tax of $2,144 and $nil</FONT></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Transfer of realized loss on disposal of availabe-for-sale financial assets</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,336</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Actuarial gains (losses) on defined benefit pension plans</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">105</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(122)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Total other comprehensive income for the period</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">14,825</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">13,903</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Total comprehensive income for the period</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">17,494</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">10,010</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Attributable to:</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Shareholders of the Company</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">18,659</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">11,425</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Non-controlling interests</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,165)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,415)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">17,494</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">10,010</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral
part of these consolidated financial statements.</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Unaudited Condensed
Consolidated Statements of Cash Flows</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars)</P>



<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 60%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>For the quarter ended March 31</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><I>Note</I></B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2017</B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2016</B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><I>(restated)*</I></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Cash flows generated from (used in):</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Operating activities</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Profit (loss) for the period from continuing operations</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,669</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(9,598)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><I>Items not affecting cash:</I></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Asset retirement obligation accretion</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">523</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">449</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Depreciation and amortization</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">18,064</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">18,968</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Unrealized foreign exchange loss</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(74)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(647)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Deferred income tax expense (recovery)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,713)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(9,234)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Loss on disposal of assets</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">307</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">289</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Other write-down of assets</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,054</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Loss (gain) on marketable securities and other investments</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(34)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,317</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Share based payments</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,128</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,701</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Defined benefit pension plan expense</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">831</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">283</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">28,755</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">8,528</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Property reclamation payments</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(591)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(80)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Changes in non-cash working capital</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 9pt"><I>9</I></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">19,610</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(15,315)</FONT></TD></TR>
<TR>
    <TD NOWRAP COLSPAN="3" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Net cash provided (used) by operating activities of continuing operations</B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">47,774</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(6,867)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Net cash provided by operating activities of discontinued operations</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">14,368</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Investing activities</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Purchase of property, plant and equipment</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(73,837)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(59,320)</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Proceeds from the sale of property, plant and equipment</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">384</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Proceeds on production of tailings retreatment</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,878</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Purchase of marketable securities</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,834)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Proceeds from the sale of marketable securities</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,287</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Value added taxes related to mineral property expenditures, net</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">23,584</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(5,059)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Investment in term deposits</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(225,966)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(913)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Decrease in restricted cash</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(14)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Net cash used by investing activities of continuing operations</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(276,222)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(59,591)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Net cash used by investing activities of discontinued operations</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(5,141)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Financing activities</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Issuance of common shares for cash</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">554</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Dividend paid to shareholders</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(10,610)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Purchase of treasury stock</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,049)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Net cash used by financing activities of continuing operations</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(12,105)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Decrease in cash and cash equivalents</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(240,553)</FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(57,231)</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Cash and cash equivalents - beginning of period</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">883,171</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">288,189</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Cash and cash equivalents - end of period</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">642,618</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">230,958</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><I>*See note 4</I></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral
part of these consolidated financial statements.</P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Unaudited Condensed
Consolidated Statements of Changes in Equity</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars)</P>



<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 63%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>For the quarter ended March 31,</B></FONT></TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>2017</B></FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>2016</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Share capital </B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance beginning of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,819,101</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,319,101</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Shares issued upon exercise of share options, for cash</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">554</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Transfer of contributed surplus on exercise of options</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">166</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance end of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,819,821</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,319,101</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Treasury stock</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance beginning of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(7,794)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(10,211)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Purchase of treasury stock</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,049)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Shares redeemed upon exercise of restricted share units</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,843</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,196</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance end of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(8,000)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(8,015)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Contributed surplus</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance beginning of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,606,567</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">47,236</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Share based payments</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">4,497</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,134</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Shares redeemed upon exercise of restricted share units</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,843)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,196)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Recognition of other non-current liability and related costs</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,416)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Transfer to share capital on exercise of options </FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(166)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance end of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,609,055</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">46,758</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Accumulated other comprehensive loss</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance beginning of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(7,172)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(20,572)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Other comprehensive income for the period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">14,825</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">13,903</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance end of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">7,653</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(6,669)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Deficit</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance beginning of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,928,024)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,583,873)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Dividends paid</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(10,610)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Profit (loss) attributable to shareholders of the Company</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,834</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(2,478)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance end of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,934,800)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,586,351)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Total equity attributable to shareholders of the Company</B></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,493,729</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,764,824</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Non-controlling interests</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance beginning of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">88,786</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">169,755</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><FONT STYLE="font-size: 10pt">Profit (loss) attributable to non-controlling interests</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,165)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,415)</FONT></TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Balance end of period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">87,621</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">168,340</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Total equity</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,581,350</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,933,164</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral
part of these consolidated financial statements.</P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 10pt/13pt Univers 55; margin: 0 56.7pt 0 17.85pt; text-indent: 0in"></P>

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">&nbsp;</P>



<P STYLE="color: #0C2D83; font: 10pt/13pt Univers 55; margin: 0 56.7pt 0 17.85pt; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>1.</B></TD><TD STYLE="padding-right: 56.7pt"><B>General Information </B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 7pt 0.25in; text-indent: 0in">Eldorado Gold Corporation (&ldquo;Eldorado&rdquo;
or the &ldquo;Company&rdquo;) is a gold exploration, development and mining company. The Company has operations and ongoing exploration
and development projects in Turkey, Greece, Brazil and Romania. The Company disposed of its China operations (&ldquo;China Business&rdquo;)
in 2016. Details of the sale are included in note 4.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt; text-indent: 0in">Eldorado is a public company
which is listed on the Toronto Stock Exchange and New York Stock Exchange and is incorporated and domiciled in Canada.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 3pt 22.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>2.</B></TD><TD STYLE="padding-right: 57pt"><B>Basis of preparation</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><B>a)</B></TD><TD><B>Statement of compliance</B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: 0in">These unaudited condensed consolidated
interim financial statements have been prepared in accordance with International Accounting Standard 34 &lsquo;Interim Financial
Reporting&rsquo;. They do not include all of the information and footnotes required by the International Financial Reporting Standards
(&ldquo;IFRS&rdquo;) as issued by the International Accounting Standards Board for full annual financial statements and should
be read in conjunction with the Company&rsquo;s annual financial statements for the year ended December 31, 2016.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: 0in">The same accounting policies
are used in the preparation of these unaudited condensed consolidated interim financial statements as for the most recent audited
annual financial statements and reflect all the adjustments necessary for fair presentation in accordance with IFRS for the interim
periods presented.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: 0in">These unaudited condensed consolidated
interim financial statements were authorized for issue by the Company&rsquo;s Board of Directors on April 27, 2017.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><B>b)</B></TD><TD><B>Judgement and estimates</B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: 0in">The preparation of these unaudited
condensed consolidated interim financial statements in conformity with IFRS requires management to make judgements, estimates and
assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense.
Actual results may differ from these estimates.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.5in; text-indent: 0in">The significant judgements made
by management in applying the Company&rsquo;s accounting policies and the key sources of estimation uncertainty were the same as
those that applied to the consolidated financial statements as at and for the year ended December 31, 2016.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt 0.5in; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 4pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>3.</B></TD><TD STYLE="padding-right: 57pt"><B>Adoption of new accounting standards and upcoming changes</B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 5pt 0.25in; text-indent: 0in">The following standards have
been published and are mandatory for Eldorado&rsquo;s annual accounting periods no earlier than January 1, 2018:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #0C2D83; font: 10pt/13pt Univers 55; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: windowtext">&#183;</FONT></TD><TD STYLE="padding-right: 5.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: windowtext">IFRS 2</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; color: windowtext"><I>&lsquo;Share-Based
Payments&rsquo; </I>&ndash;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; color: windowtext">In June 2016, the
IASB issued final amendments to this standard. IFRS 2 clarifies the classification and measurement of share-based payment transactions.
These amendments deal with variations in the final settlement arrangements including: (a) accounting for cash-settled share-based
payment transactions that include a performance condition, (b) classification of share-based payment transactions with net settlement
features, and (c) accounting for modifications of share-based payment transactions from cash-settled to equity. IFRS 2 is effective
for annual reporting periods beginning on or after January 1, 2018, with early adoption permitted. The Company is currently evaluating
the extent of the impact of the adoption of this standard. A detailed review will be completed during the following months of 2017.
The Company does not currently expect the impact of these changes to be material.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Univers 55; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">IFRS 9 <I>&lsquo;Financial Instruments&rsquo; </I>&ndash; This standard
was published in July 2014 and replaces the existing guidance in IAS 39, &lsquo;<I>Financial Instruments: Recognition and Measurement&rsquo;</I>.
IFRS 9 includes revised guidance on the classification and measurement of financial instruments, including a new expected credit
loss model for calculating impairment on financial assets, and the new general hedge accounting
requirements.</FONT> </TD></TR></TABLE>


<!-- Field: Page; Sequence: 7; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 17.85pt">3.</TD><TD>Adoption of new accounting standards and upcoming changes <FONT STYLE="font-weight: normal"><I>(continued)</I></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 5pt 0.5in; text-indent: 0in">It also carries forward the guidance
on recognition and derecognition of financial instruments from IAS 39. IFRS 9 is effective for annual reporting periods beginning
on or after January 1, 2018, with early adoption permitted. The Company is currently evaluating all its equity investments that
move through other comprehensive income to assess the option of electing for these investments to be recorded directly into its
profit and loss results or continue recording against other comprehensive income with no profit and loss effect on sale. The company
is also assessing the impact of applying hedge accounting to hedge components of non-financial items. A detailed review will be
completed during the following months of 2017.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 5pt 0.5in; text-indent: 0in">IFRS 15 <I>&lsquo;Revenue from
Contracts with Customers&rsquo; </I>&ndash; This standard contains a single model that applies to contracts with customers and
two approaches to recognising revenue: at a point in time or over time. The model features a contract-based five-step analysis
of transactions to determine whether, how much and when revenue is recognized. New estimates and judgmental thresholds have been
introduced, which may affect the amount and/or timing of revenue recognized. This standard is effective for annual reporting periods
beginning on or after January 1, 2018, with early adoption permitted. The Company is currently evaluating the extent of the impact
of the adoption of this standard as some of its gold sales are subject to pricing adjustments. A detailed review of contracts will
be completed during the following months of 2017.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #0C2D83; font: 10pt/13pt Univers 55; margin-top: 0; margin-bottom: 7pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: windowtext">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: windowtext">IFRS 16</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; color: windowtext"><I>&lsquo;Leases&rsquo;
</I>&ndash;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; color: windowtext">This standard was published in January
2016 and replaces the existing guidance in IAS 17, <I>&lsquo;Leases&rsquo;</I>. IFRS 16 introduces a single accounting model for
lessees and for all leases with a term of more than 12 months, unless the underlying asset is of low value. A lessee will be required
to recognize a right-of-use asset, representing its right to use the underlying asset, and a lease liability, representing its
obligation to make lease payments. The accounting treatment for lessors will remain largely the same as under IAS 17. IFRS 16 is
effective for annual reporting periods beginning on or after January 1, 2019, with early adoption permitted. The Company is currently
evaluating all operating leases as it is expected that, under this standard, the present value of most lease commitments will be
shown as a liability on the balance sheet together with an asset representing the right of use, including those classified as operating
leases under the existing standard. Information on the undiscounted amount of the Company&rsquo;s operating lease commitments at
December 31, 2016 under IAS 17, the current lease standard, is disclosed within note 22 of the</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
<FONT STYLE="color: windowtext">Company&rsquo;s annual financial statements for the year ended December 31, 2016.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt; text-indent: 0in">There are other new standards,
amendments to standards and interpretations that have been published and are not yet effective. The Company believes they will
have no material impact to its consolidated financial statements.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4.5pt"></TD><TD STYLE="width: 18pt"><B>4.</B></TD><TD STYLE="padding-right: 56.7pt"><B>Sale of China Business</B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in; text-indent: 0pt">On April 26, 2016, the
Company announced that it had reached an agreement to sell its 82 percent interest in Jinfeng to a wholly-owned subsidiary of China
National Gold Group (&ldquo;CNG&rdquo;) for $300 million in cash, subject to certain closing adjustments. &#9;The sale was completed
on September 6, 2016. In addition to the sale of Jinfeng, on May 16, 2016 Eldorado announced it had reached an agreement to sell
its respective interest in White Mountain, Tanjianshan and Eastern Dragon to an affiliate of Yintai Resources Co. Ltd. (&ldquo;Yintai&rdquo;)
for $600 million in cash, subject to certain closing adjustments. The sale was completed on November 22, 2016.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD>The Company concluded that during the second quarter of 2016, the assets and liabilities of the China Business met the criteria
for classification as held for sale as settlement was expected within twelve months. Accordingly, an initial post-tax loss of $339
million was recognized in the second quarter of 2016 on re-measurement to fair value less costs of disposal of our China Business.
For the year ended December 31, 2016, a net loss on sale of assets held for sale of $351.0 million was realized in net loss from
discontinued operations as a result of completing both sale transactions.</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.25in">During the quarter, the Company recorded an
expense of $3 million for working capital adjustments related to the Yintai sale based on the agreement that was reached with Yintai
during the period. This amount has been recorded as an accrual as at March 31, 2017 and included as discontinued
operations in the Consolidated Income Statements, with payment expected to be made in the second quarter of 2017.</P>


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-indent: -17.85pt">&nbsp;</P>

<P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0in">4.&#9;Sale of China Business <FONT STYLE="font-weight: normal"><I>(continued)</I></FONT>&#9;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD>The China Business net earnings to date of disposition were included in the Company's consolidated results for the year ended
December 31, 2016. These results have been presented as discontinued operations within the Consolidated Income Statements and the
Consolidated Statements of Cash Flows. The profit from discontinued operations for the first quarter of 2016 is as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 17.85pt; text-indent: 3.4pt"></P>

<P STYLE="color: #0038E5; font: bold 10pt/13pt Univers 55; margin: 0 0 6pt; text-indent: 0.25in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>For the quarter ended March 31</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>2016</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Revenue</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">69,440</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Production costs</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">47,742</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Depreciation and amortization</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">12,691</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Gross profit</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">9,007</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Exploration expenses</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">282</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">General and administrative expenses</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,104</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Foreign exchange loss</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">271</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Operating profit</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">6,350</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Interest and financing costs</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">15</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Asset retirement obligation accretion</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">116</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Other income</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">(25)</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit from discontinued operations before income tax</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">6,244</FONT></TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; font: 9pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 9pt"><FONT STYLE="font-size: 9pt">Income tax expense</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">539</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Profit from discontinued operations</B></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">5,705</FONT></TD></TR>
</TABLE>


<P STYLE="color: #0038E5; font: bold 10pt/13pt Univers 55; margin: 0 0 6pt; text-indent: 0.25in"></P>

<P STYLE="color: #0038E5; font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>5.</B></TD><TD STYLE="padding-right: 56.7pt"><B>Debt</B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-indent: 0.25in"><B><I>Senior notes</I></B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 5pt 0.25in">On December 10, 2012, the Company completed an
offering of $600.0 million senior notes (&ldquo;the notes&rdquo;) at par value, with a coupon rate of 6.125% due December 15, 2020.
The notes pay interest semi-annually on June 15 and December 15. Net deferred financing costs of $8,155 have been included as an
offset in the balance of the notes in the financial statements and are being amortized over the term of the notes.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 5pt 0.25in">The fair market value of the notes as at March
31, 2017 is $615 million.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>6.</B></TD><TD STYLE="padding-right: 56.7pt"><B>Share capital</B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Univers 45 Light, Helvetica, Sans-Serif; margin: 6pt 0 6pt 17.85pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Eldorado&rsquo;s
authorized share capital consists of an unlimited number of voting common shares without par value and an unlimited number of non-voting
common shares without par value. At March 31, 2017 there were 716,816,593 (December 31, 2016 &ndash; 716,587,134) voting common
shares and no non-voting common shares (December 31, 2016</FONT> &ndash; <FONT STYLE="font-family: Times New Roman, Times, Serif">nil)
outstanding.</FONT></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 57pt 0 0; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 57pt 0 0; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 57pt 0 0; text-indent: 0in"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>







<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 57pt 0 0; text-indent: 0in"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 57pt 0 0; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 5pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>7.</B></TD><TD STYLE="padding-right: 56.7pt"><B>Share-based payments</B></TD></TR></TABLE>

<P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in; text-indent: 0in"><FONT STYLE="letter-spacing: -0.1pt"><I>(a)
Share option plans</I></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 17.85pt">Movements in the number of share options outstanding
and their related weighted average exercise prices are as follows:</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Univers 55; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; text-align: center; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #000000">2017</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 66%; padding-right: 5.4pt; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #000000">&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 19%; border-bottom: Black 1pt solid; padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #000000">Weighted
    average exercise price Cdn$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in"><FONT STYLE="color: #000000">Number
        of</FONT></P>
        <P STYLE="font: bold 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in"><FONT STYLE="color: #000000">options</FONT></P></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #000000">At
    January 1,</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">7.55</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">28,896,035</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Granted</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">4.42</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">5,466,211</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Exercised</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">3.22</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">(229,459)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Forfeited</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">14.53</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">(3,663,933)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 5.4pt; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: #000000">At
    March 31,</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">6.18</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 5.4pt; text-align: right; line-height: 13pt; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">30,468,854</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">At March 31, 2017, 19,457,178 share options (March
31, 2016 &ndash; 20,384,139) with a weighted average exercise price of Cdn$7.51 (March 31, 2016 &ndash; Cdn$9.75) had vested and
were exercisable.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 12pt 17.85pt">Share based compensation expense related to
share options for the quarter ended March 31, 2017 was $2,628.</P>

<P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 7pt 0 6pt; text-indent: 0.25in"><FONT STYLE="letter-spacing: -0.1pt"><I>(b)
Restricted share unit plan</I></FONT></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.3in">A total of 765,892 restricted share units (&ldquo;RSUs&rdquo;)
at a grant-date fair value of Cdn$4.44 per unit were granted during the three-month period ended March 31, 2017 under the Company&rsquo;s
RSU plan.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.3in">The fair value of each RSU issued is determined
as the closing share price at grant date. The current maximum number of common shares authorized for issue under the RSU plan is
5,000,000.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 3pt 0.3in">A summary of the status of the RSU plan and changes
during the period ended March 31, 2017 is as follows:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 66%; padding-left: 0.3in; line-height: 120%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; padding-left: 0.3in; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Total RSUs</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.3in; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Balance at December 31, 2016</FONT></TD>
    <TD STYLE="padding-left: 0.3in; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">1,240,174</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.3in; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">RSUs Granted</FONT></TD>
    <TD STYLE="padding-left: 0.3in; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">765,892</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.3in; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Redeemed</FONT></TD>
    <TD STYLE="padding-left: 0.3in; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(299,401)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.3in; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Forfeited</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.3in; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(121,068)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.3in; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Balance at March 31, 2017</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-left: 0.3in; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">1,585,597</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.3in">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.3in">As at March 31, 2017, 819,705 common shares purchased
by the Company remain held in trust in connection with this plan. At the end of the period, 384,107 restricted share units are
fully vested and exercisable. These shares purchased and held in trust have been included in treasury stock in the balance sheet.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.3in">Subsequent to March 31, 2017, 765,892 additional
common shares were purchased by the Company.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 12pt 21.55pt">Restricted share units expense for the period
ended March 31, 2017 was $1,266.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.3in"><B><I>(c) Deferred units plan</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.3in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal TimesNewRomanPSMT,serif; margin: 0 0 0 0.3in">At March 31, 2017, 669,360 deferred units (&ldquo;DUs&rdquo;)
were outstanding with a value of $2,288, which is included in</P>

<P STYLE="font: 10pt/normal TimesNewRomanPSMT,serif; margin: 0 0 0 0.3in">accounts payable and accrued liabilities.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 12pt 21.55pt">Deferred units expense for the period ended
March 31, 2017 was $631.</P>


<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>







<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left">7.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Share-based payments <FONT STYLE="font-weight: normal"><I>(continued)</I></FONT></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-indent: 0.25in"><FONT STYLE="letter-spacing: -0.1pt"><I>(d)
Performance share units plan</I></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 17.85pt">A total of 569,719 performance share units
(&ldquo;PSUs&rdquo;) were granted during the three-month period ended March 31, 2017 under the Company&rsquo;s PSU plan. The PSUs
vest on the third anniversary of the grant date, subject to achievement of pre-determined performance criteria. When fully vested,
the number of PSUs redeemed will range from 0% to 200% of the target award, subject to the performance of the share price over
the 3 year period. The current maximum number of common shares authorized for issuance from treasury under the PSU plan is 3,130,000.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt">Compensation expense related to PSUs for the
period ended March 31, 2017 was $603.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>8.</B></TD><TD STYLE="padding-right: 56.7pt"><B>Fair value of financial instruments</B></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt">Fair values are determined directly by reference
to published price quotations in an active market, when available, or by using a valuation technique that uses inputs observed
from relevant markets.</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt">The three levels of the fair value hierarchy
are described below:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.95pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Level 1 &ndash; Unadjusted quoted prices in active markets that are accessible at the measurement
date for identical, unrestricted assets or liabilities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 26.95pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Level 2 &ndash; Inputs that are observable, either directly or indirectly, but do not qualify
as Level 1 inputs (i.e. quoted prices for similar assets or liabilities).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/120% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Level 3 &ndash; Prices or valuation techniques that require inputs that are both significant
to the fair value measurement and unobservable (i.e., supported by little or no market activity).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt">The assets and liabilities measured at fair value
as at March 31, 2017 are marketable securities and derivatives related to the Company&rsquo;s metal hedge positions on zinc and
iron ore. The Company&rsquo;s derivative asset of $188 and derivative liability of $154, which are considered level 2, are included
in Other assets and Accounts payable and accrued liabilities respectively in our Consolidated Balance Sheet. The net gain on derivatives
of $34 is presented in Loss (gain) on marketable securities and other investments in our Consolidated Income Statement.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt">The fair value of financial instruments traded
in active markets is based on quoted market prices at the balance sheet date. A market is regarded as active if quoted prices are
readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those
prices represent actual and regularly occurring market transactions on an arm&rsquo;s length basis. The quoted market price used
for financial assets held by the group is the current bid price. These instruments are included in Level 1. Instruments included
in Level 1 comprise primarily publicly-traded equity investments classified as available-for-sale securities.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt 17.85pt">With the exception of the fair market value of
the Company&rsquo;s senior notes (note 5), which are included in level 2, all carrying amounts of financial instruments approximate
their fair value.</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>







<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>9.</B></TD><TD STYLE="padding-right: 56.7pt"><B>Supplementary cash flow information</B></TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in">March 31, 2017</P>
        <P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in"><FONT STYLE="color: #000000">$</FONT></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in"><FONT STYLE="color: #000000">March
        31, 2016</FONT></P>
        <P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in"><FONT STYLE="color: #000000">$</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; text-align: right; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 76.55pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: -76.55pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Changes
    in non-cash working capital</FONT></TD>
    <TD STYLE="padding-right: 7.05pt; text-align: right; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 7.05pt; text-align: right; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 10.1pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Accounts
    receivable and other</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">14,923</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">3,667</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 10.1pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Inventories</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">(3,796)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">(8,220)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 10.1pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Accounts
    payable and accrued liabilities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: -0.9pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">8,483</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: -0.9pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">(10,762)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 10.1pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Total</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">19,610</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">(15,315)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 76.55pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: -76.55pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Supplementary
    cash flow information</FONT></TD>
    <TD STYLE="padding-right: 7.05pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="color: #000000">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 7.05pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="color: #000000">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 10.1pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Income
    taxes paid</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">16,241</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">14,241</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; padding-left: 10.1pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: #000000">Interest
    paid</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">-</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 6pt; padding-left: 5.4pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; color: #000000">-</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 10.1pt; line-height: 13pt; font-family: Univers 55; color: #0038E5; text-indent: 0in; font-weight: bold"><FONT STYLE="color: #000000">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 7.05pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 7.05pt; text-align: right; line-height: 120%; font-family: Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 66%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 16%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0 17.85pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.4pt"><B>10.</B></TD><TD STYLE="padding-right: 56.7pt"><B>Segmented information</B></TD></TR></TABLE>

<P STYLE="font: bold 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt; text-indent: 0in">Identification of reportable
segments</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt; text-indent: 0in">The Company has identified
its operating segments based on the internal reports that are reviewed and used by the chief executive officer and the executive
management (the chief operating decision makers or CODM) in assessing performance and in determining the allocation of resources.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 17.85pt; text-indent: 0in">The CODM considers the business
from both a geographic and product perspective and assesses the performance of the operating segments based on measures of profit
and loss as well as assets and liabilities. These measures include gross profit (loss), expenditures on exploration, property,
plant and equipment and non-current assets, as well as total debt. As at March 31, 2017, Eldorado had five reportable segments
based on the geographical location of mining and exploration and development activities.</P>

<P STYLE="font: bold 10pt/normal Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in; text-indent: 0in">10.1&#9; Geographical
segments&#9;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0 17.85pt; text-indent: 0in">Geographically, the operating
segments are identified by country and by operating mine or mine under construction. The Turkey reporting segment includes the
Ki&#351;lada&#287; and the Efem&ccedil;ukuru mines and exploration activities in Turkey. The Brazil reporting segment includes
the Vila Nova mine, Tocantinzinho project and exploration activities in Brazil. The Greece reporting segment includes the Stratoni
mine, the Olympias, Skouries, Perama Hill and Sapes projects and exploration activities in Greece. The Romania reporting segment
includes the Certej project and exploration activities in Romania. Other reporting segment includes operations of Eldorado&rsquo;s
corporate office and exploration activities in other countries.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0 17.85pt; text-indent: 0in">Financial information about
each of these operating segments is reported to the CODM on at least a monthly basis. The mines in each of the different segments
share similar economic characteristics and have been aggregated accordingly.</P>

<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>







<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Segmented information <FONT STYLE="font-weight: normal"><I>(continued)</I></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 6pt 17.85pt; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>For the three months ended March 31, 2017</B></FONT></TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Turkey</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Greece</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Romania</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Other</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Information about profit and loss</B></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Metal sales from external customers</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">91,590</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">2,530</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">17,760</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">111,880</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Production costs</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">36,848</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,312</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">12,528</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">50,688</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Depreciation</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">17,818</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">128</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">118</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">18,064</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Gross profit (loss)</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">36,924</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,218</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">5,104</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(118)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">43,128</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Other material items of income and expense</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Other write-down&nbsp;&nbsp;of assets</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">237</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">817</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,054</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Exploration costs</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">336</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,231</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,486</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,764</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">430</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">5,247</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Income tax expense (recovery)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">14,557</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(1,066)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">66</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(637)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(2,144)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">10,776</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Additions to property, plant and</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt; line-height: 120%"><FONT STYLE="font-size: 10pt">equipment during the period</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">10,014</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,954</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">60,410</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">2,260</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">123</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">74,761</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Information about assets and liabilities</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Property, plant and equipment</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">875,317</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">188,560</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">2,217,969</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">416,099</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">196</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">3,698,141</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Debt</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">591,845</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">591,845</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 6pt 17.85pt; text-indent: 0in"></P>

<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>For the three months ended March 31, 2016</B></FONT></TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Turkey</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Greece</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Romania</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Other</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Information about profit and loss</B></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Metal sales from external customers</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">91,221</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">3,472</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">94,693</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Production costs</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">40,974</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">4,233</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">45,207</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Inventory write-down</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,346</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,346</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Depreciation</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">18,244</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">461</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">194</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">69</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">18,968</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Gross profit (loss)</B></FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">32,003</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(461)</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(2,301)</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(69)</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">29,172</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt"><B>Other material items of income and expense</B></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Exploration expenses</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">360</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">332</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">648</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">207</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">414</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">1,961</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Income tax expense (recovery)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">4,866</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(1,664)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">2,098</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">(569)</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">64</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">4,795</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 120%"><FONT STYLE="font-size: 10pt">Additions to property, plant and</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt; line-height: 120%"><FONT STYLE="font-size: 10pt">equipment during the period</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">14,121</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">874</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">43,056</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">2,397</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">8</FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right; line-height: 120%"><FONT STYLE="font-size: 10pt">60,456</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><B>For the year ended December 31, 2016</B></FONT></TD>
    <TD NOWRAP STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Turkey</B></FONT></TD>
    <TD NOWRAP STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Brazil</B></FONT></TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Greece</B></FONT></TD>
    <TD NOWRAP STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Romania</B></FONT></TD>
    <TD NOWRAP STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Other</B></FONT></TD>
    <TD NOWRAP STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt/120% Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD>
    <TD NOWRAP STYLE="border-bottom: Black 1pt solid; font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>$</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Information about assets and liabilities</B></FONT></TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Property, plant and equipment (*)</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">885,629</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">186,606</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">2,157,822</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">413,949</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">1,821</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">3,645,827</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Debt</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">591,589</FONT></TD>
    <TD NOWRAP STYLE="font: 10pt/120% Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt">591,589</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Univers 45 Light, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: 0in"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0in">* Net of revenues from
sale of production from tailings retreatment</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0in">&nbsp;</P>


<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="color: #0C2D83; font: 14pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eldorado Gold Corporation</B></P>

<P STYLE="color: #0C2D83; font: 14pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">Notes to the
unaudited condensed consolidated financial statements</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0 0 0 76.55pt; text-indent: -76.55pt">(Expressed in thousands of U.S.
dollars, unless otherwise stated)</P>







<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 12pt 0.25in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: left">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Segmented information <FONT STYLE="font-weight: normal"><I>(continued)</I></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.25in; text-indent: 0in">The Turkey segment derives its
revenues from sales of gold. The Brazil segment derives its revenue from sales of iron ore. The Greece segment derives its revenue
from sales of zinc, lead and silver concentrates.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD><B>10.2 Seasonality/cyclicality of operations</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"></TD><TD>Management does not consider operations to be of a significant seasonal or cyclical nature.</TD></TR></TABLE>

<P STYLE="color: #0C2D83; font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 17.85pt">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">(<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->)</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>mda.htm
<DESCRIPTION>MANAGEMENT DISCUSSION AND ANALYSIS FOR THE FIRST QUARTER - MARCH 31, 2017
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Throughout this Management&#8217;s Discussion and Analysis (&#8220;MD&amp;A&#8221;),
<I>Eldorado</I>, <I>we, us, our</I> and <I>the Company</I> mean Eldorado Gold Corporation. <I>This quarter</I> means the first
quarter of 2017. All dollar amounts are in United States dollars unless stated otherwise.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: left">The information in this MD&amp;A is
as of April 27, 2017. You should also read our audited consolidated financial statements for the year ended December 31, 2016
prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting
Standards Board (IASB) and the unaudited condensed consolidated financial statements for the three-month period ended March
31, 2017 prepared in accordance with International Accounting Standard (IAS) 34 &#8211; &#8220;Interim Financial
Reporting&#8221;. We file our financial statements and MD&amp;A with appropriate regulatory authorities in Canada and the
United States. You can find more information about Eldorado, including our Annual Information Form (&#8220;AIF&#8221;), on
SEDAR at www.sedar.com.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>About Eldorado</B></P>

<P STYLE="font: 10pt ArialMT,sans-serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Based in Vancouver, Canada, Eldorado owns and operates mines around
the world. Its activities involve all facets of the mining industry including exploration, evaluation and development, production,
and reclamation.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Operating gold mines:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Kisladag, in Turkey (100%)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Efemcukuru, in Turkey (100%)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gold projects:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Olympias, in Greece (95%)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Skouries, in Greece (95%) </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Perama Hill, in Greece (100%)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Certej, in Romania (81%)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Tocantinzinho, in Brazil (100%) </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Other mines:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Stratoni &#8211; Lead and Zinc Concentrates, in Greece (95%)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Vila Nova &#8211; Iron Ore, in Brazil (100%)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Eldorado is listed on the following exchanges:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Toronto Stock Exchange (&#8220;TSX&#8221;) under the symbol ELD </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">New York Stock Exchange (&#8220;NYSE&#8221;) under the symbol EGO</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>First Quarter Summary Results</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; color: gray">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Select Consolidated Financial Information and Corporate Developments
<SUP>(1)</SUP></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Profit attributable to shareholders of the
Company was $3.8 million ($0.01 per share) in the first quarter of 2017, compared to a loss attributable to shareholders of the
Company of $2.5 million ($0.00 per share) in the first quarter of 2016.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Gold revenues in the first quarter of 2017,
were $90.5 million (2016: $90.5 million from continuing operations; $160.0 million, including sales from discontinued operations)
on sales of 74,068 ounces of gold at an average realized gold price of $1,222 per ounce (2016: 74,983 ounces at $1,207 per ounce
from continuing operations; 133,467 ounces at $1,198 per ounce, including sales from discontinued operations).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">At quarter-end the Company reported liquidity
of $1,123.9 million, including $873.9 million in cash, cash equivalents and term deposits, and $250.0 million in undrawn lines
of credit.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Select Performance Measures<SUP> (2)</SUP></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Gold production of 75,172 ounces (2016: 79,892
ounces from continuing operations; 138,215 ounces including discontinued operations).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Cash operating costs averaged $466 per ounce
(2016: $519 per ounce from continuing operations; $603 per ounce including discontinued operations).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">All-in sustaining cash costs averaged $791
per ounce (2016: $886 per ounce including discontinued operations).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Gross profit from gold mining operations
of $37.0 million (2016: $32.1 million from continuing operations; $41.2 million including discontinued operations).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Adjusted net earnings of $8.0 million ($0.01
per share) compared to an adjusted net loss of $0.7 million ($0.00 loss per share) in 2016. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Cash generated from operating activities
before changes in non-cash working capital was $28.2 million (2016: $8.4 million from continuing operations). </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><I>(1)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><I>In accordance with the requirements of
IFRS 5 &#8211; &#8220;Non-current assets held for sale and discontinued operations&#8221;, the Company&#8217;s China segment has
been restated as a discontinued operation for the quarter ended March 31, 2016. Except where indicated, the financial and performance
information presented in this MD&amp;A for 2016 includes discontinued operations.</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><I>(2)</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><I>Throughout this MD&amp;A we use cash operating
cost per ounce, total cash costs per ounce, all-in sustaining cash cost per ounce, gross profit from gold mining operations, adjusted
net earnings, and cash flow from operating activities before changes in non-cash working capital as additional measures of Company
performance. These are non-IFRS measures. Please see page 8 for an explanation and discussion of these non-IFRS measures.</I></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>Summarized Financial Results</B></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>Continuing Operations</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #EBF4DC">
    <TD STYLE="vertical-align: top; width: 68%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>For the quarter ended March 31,</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">111.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">94.6</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Gold revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">90.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">90.5</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Gold sold (ounces)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">74,068</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">74,983</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Average realized gold price ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">1,222</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">1,207</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs &#8211; gold mines ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">466</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">519</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash costs &#8211; gold mines ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">483</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">536</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Gross profit from gold mining operations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">37.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">32.1</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash flow from operating activities <SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">28.2</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">8.4</FONT></TD></TR>
</TABLE>
<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">&nbsp;</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>Including Discontinued Operations</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #EBF4DC">
    <TD STYLE="vertical-align: top; width: 68%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>For the quarter ended March 31,</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">111.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">164.1</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Gold revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">90.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">160.0</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Gold sold (ounces)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">74,068</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">133,467</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Average realized gold price ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">1,222</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">1,198</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs &#8211; gold mines ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">466</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">603</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash costs &#8211; gold mines ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">483</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">658</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">All-in sustaining cash cost &#8211; gold mines ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">791</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">886</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Gross profit from gold mining operations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">37.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">41.2</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Adjusted net earnings</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">8.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">(0.7)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Net profit (loss) <SUP>2</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">3.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">(2.5)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Earnings (loss) per share &#8211; basic ($/share) <SUP>2</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0.01</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">(0.00)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 7.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Earnings (loss) per share &#8211; diluted ($/share) <SUP>2</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0.01</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">(0.00)</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 11pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>(1)</I></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Before changes in non-cash working capital.</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 11pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>(2)</I></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Attributable to shareholders of the Company.</I></FONT></TD></TR></TABLE>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>Review of Quarterly Financial Results</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">Profit attributable to shareholders of the Company was $3.8
million, (or $0.01 per share), compared to a loss of $2.5 million, or $nil per share in 2016. Adjusted net earnings for the quarter
were $8.0 million ($0.01 per share) as compared to an adjusted net loss of $0.7 million ($nil per share) for the first quarter
of 2016. The main difference between profit and adjusted earnings in the first quarter of 2017 was the $3.0 million loss recorded
on finalization of the sale of the Company&#8217;s Chinese assets (see page 10 for a reconciliation of profit to adjusted earnings).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">Gold sales of 74,068 ounces from continuing operations were
consistent year over year, while gross profit from continuing gold mining operations increased $4.9 million due to higher gold
prices and lower cash operating costs. General and administrative expenses increased $2.1 million year over year due to reorganization
costs in Vancouver and Turkey. Exploration expense increased $3.2 million including $0.9 related to development of an exploration
tunnel at Stratoni. Mine standby costs of $1.0 million were recorded in the first quarter of 2017 related to Vila Nova and Perama
Hill (2016: $9.6 million mainly related to the temporary suspension of Skouries development from January through May). The effective
tax rate of 80% was higher than an expected rate of approximately 20% to 30% due to withholding tax accruals in Turkey, foreign
exchange effects, and unrecognized losses in Canada and Greece. The relative impact of these factors was approximately equal.</P>


<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>Operations Update</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: left; margin-bottom: 0"><B> &nbsp;Gold
Operations</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="width: 74%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Continuing Operations for the quarter ended March 31,</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; text-align: center"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; text-align: center"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Kisladag</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">52,644</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">52,376</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">446</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">536</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash cost ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">464</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">552</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">5.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">7.0</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Efemcukuru</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">22,528</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">27,516</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">515</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">478</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash cost ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">531</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">500</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">3.8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">4.8</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Olympias</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">2,774</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">n/a</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Subtotal: Continuing Operations</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">75,172</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">79,892</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">466</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">519</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash cost ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">483</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">536</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">8.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">11.8</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Discontinued Operations for the quarter ended March 31,</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Tanjianshan</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">14,053</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">852</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash cost ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">1,083</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0.3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Jinfeng</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">25,935</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">726</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash cost ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">807</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0.1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>White Mountain</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">18,335</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">582</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash cost ($/ouce)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">620</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">0</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">4.1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAF1DD">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif"><B>Total including Discontinued Operations</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Ounces produced</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">75,172</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">138,215</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">466</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">603</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Total cash cost ($/ounce)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">483</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">658</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">Sustaining capex</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">8.9</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 7pt/109% Arial, Helvetica, Sans-Serif">16.3</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1)</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Includes production from tailings retreatment in 2016.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Kisladag</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #EBF4DC">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif"><B>Operating Data &#8211; quarter ended March 31,</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Tonnes placed on pad</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,227,406</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,046,896</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Average treated head grade (g/t Au)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.73</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Gold (ounces)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 20.25pt; text-indent: -0.25in; font-size: 11pt"><FONT STYLE="font-size: 8pt">-</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Produced</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">52,644</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">52,376</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 20.25pt; text-indent: -0.25in; font-size: 11pt"><FONT STYLE="font-size: 8pt">-</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Sold</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">52,783</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">52,679</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">446</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">536</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total cash costs ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">464</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">552</FONT></TD></TR>
<TR STYLE="background-color: #EBF4DC">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif"><B>Financial Data</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Gold revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$64.4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$62.5</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Depreciation and depletion</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$9.4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$11.6</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Gross profit from mining operations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$30.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$21.8</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Sustaining capital expenditures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$5.1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$7.0</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Kisladag reported a reduction in ore tonnes to the leach pad year
over year as low grade run-of-mine ore is no longer being placed on the pad. Average treated head grade and tonnes mined were
higher year over year as the mine accessed higher grade ore at the bottom of the current cut back. Cash operating costs, total
cash costs and gross profit improved in the first quarter as compared to the same period in 2016 due to higher average treated
head grade, and reduced operating costs realized in labour and major consumables through operational improvements. Sustaining
capital expenditures were lower year on year due to reduced project work.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Efemcukuru</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #EBF4DC">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif"><B>Operating Data &#8211; quarter ended March 31,</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Tonnes milled</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">115,794</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">116,487</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Average treated head grade (g/t Au)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.77</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.96</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Average recovery rate (to concentrate)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">89.4%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">95.8%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Gold (ounces)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 20.25pt; text-indent: -0.25in; font-size: 11pt"><FONT STYLE="font-size: 8pt">-</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Produced</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22,528</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">27,516</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 20.25pt; text-indent: -0.25in; font-size: 11pt"><FONT STYLE="font-size: 8pt">-</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Sold</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">21,285</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22,304</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash operating costs ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">515</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">478</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total cash costs ($/ounce)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">531</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">500</FONT></TD></TR>
<TR STYLE="background-color: #EBF4DC">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif"><B>Financial Data</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Gold revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$26.2</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$27.9</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Depreciation and depletion</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$8.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$6.5</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Gross profit from mining operations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$6.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$10.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Sustaining capital expenditures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$3.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$4.8</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gold production for the quarter was lower than the first quarter
of 2016 due to the lower average treated head grade and tonnes milled. Cash operating costs were higher year on year due to lower
grade. Capital expenditures included underground development, mine equipment overhauls, and process and waste rock/tailings facilities
construction projects.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Stratoni</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 7pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #EBF4DC">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif"><B>Operating Data &#8211; quarter ended March 31,</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Tonnes ore processed (dry)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">44,627</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">30,700</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Pb grade</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.6%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.4%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Zn grade</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">10.5%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">9.0%</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Tonnes of concentrate produced</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">11,599</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7,483</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Tonnes of concentrate sold</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14,835</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,608</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Average realized concentrate price ($/tonne)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,197<SUP> 1</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">753<SUP>1</SUP></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash Costs ($/tonne of concentrate sold)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">811</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">890</FONT></TD></TR>
<TR STYLE="background-color: #EBF4DC">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif"><B>Financial Data</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Concentrate revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$17.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$3.5</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Depreciation and depletion</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$0.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$0.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Gross profit (loss) from mining operations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$5.2</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">($2.1)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Sustaining capital expenditures</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$0.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">$1.1</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><SUP>1 Average realized price includes mark to market adjustments.</SUP></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Concentrate production for the first quarter was significantly higher
year on year due to higher ore tonnes processed and higher zinc head grade. The mine and plant operated largely as planned in comparison
to 2016 when operations were disrupted by a suspension of activities, with only two scheduled production days lost due to adverse
winter weather conditions in January.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Development of the hangingwall exploration drift progressed according
to plan and diamond drilling commenced from the first drill station. Extension of the main footwall access ramp below the +117m
level to open up future production areas commenced in earnest in January.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Vila Nova</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Vila Nova mine and plant remained on care and maintenance during
the quarter. During the quarter a total of 46,663 tonnes were sold from iron ore stockpiles. Another shipment is planned for the
second quarter.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Development Projects</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Olympias</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Development of Olympias Phase II achieved significant progress during
the quarter. The majority of installation work in the process plant, including piping and cabling, was completed, and commissioning
work commenced in late March. Ore mining and processing began in April. Commercial production is expected to be achieved by the
beginning of the third quarter. The Company also announced that it has received multiple tenders for significantly better concentrate
sales terms for material produced beyond 2017. Under the new sales terms, gold payability rates have increased from 58% up to a
maximum of 71% representing an estimated increase in payable gold production of 15,000 ounces per year.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In the underground mine 1,200 metres of mine access and infrastructure
development/rehabilitation was completed during the first quarter. A total of 6,861 meters of in-fill drilling was completed to
improve orebody definition, mainly in the sections of the mine scheduled for extraction during the next three to five years.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Construction of the first stage of the Kokkinolakkas tailings storage
facility was slowed down by adverse weather in January and February, which delayed critical works, including liner installation
and placement of the clay core in the upstream embankment. The facility is now scheduled for commissioning at the end of the second
quarter. Total capital expenditure for the first quarter at Olympias was $37.1 million.</P>


<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Skouries</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Work was restricted during the first quarter due to adverse winter
weather. Earthworks, building erection and site clearing all progressed as weather allowed during the quarter. Targeted work included
tailings thickener foundations and stockpile dome embankments. Engineering continued for the integrated waste management facility
and the filter plant. Equipment selection for the main pressure filters for the filter plant was completed during the quarter.
A total of $14.0 million was spent at Skouries.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Tocantinzinho</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Installation licenses for the site, road and power line were under
review by the State government during the first quarter. Basic engineering was nearly completed for the process plant. Detailed
infrastructure engineering to prepare for early construction works was ongoing and is expected to be completed during the second
quarter. Once all permits are received a construction decision is expected later in the year. A total of $1.9 million was spent
at Tocantinzinho.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Certej</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Optimization studies continued during the quarter on the metallurgical
process, water and waste management and site infrastructure to support the ongoing permitting activities. These optimizations are
required for the oxidative process and the optimization of waste and tailings material generated. Permitting for offsite infrastructure
continued during the quarter, with work progressing on mine access roads and water supply pipelines. A total of $1.9 million was
spent on Certej, mainly on geotechnical and metallurgical testing, site preparation and engineering studies.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Perama Hill</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Perama Hill remains on care and maintenance pending receipt of the
Environmental Impact Study permit.<B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Exploration</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Exploration activities during the quarter included reconnaissance-stage
programs, drillhole targeting and drilling programs at our projects in Greece, Turkey, Romania, Serbia and Brazil. A total of 13,600
metres of exploration drilling were completed.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In Greece, the Company completed the drill-testing of the Fisoka
porphyry prospect, and initiated drilling at the Tsikara porphyry prospect near Skouries. The underground resource drilling program
at Mavres Petres commenced late in the quarter, targeting previously untested down-dip and along-strike projections of the orebody.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In Romania, drilling was conducted on the Certej North and Bolcana
licenses, targeting the Bolcana porphyry system and related epithermal prospects on its periphery.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In Brazil, drilling programs tested both the Vulture and Parnamirim
target areas within the Borborema project area in Pernambuco state. Regional geochemical sampling continued over the large Borborema
project area, while at the Nazareno project, work focused on infill soil sampling, mapping, and geophysical surveys to refine
targets for drilling during the second half of the year.<B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Non-IFRS Measures</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Throughout this document we have provided measures prepared in accordance
with IFRS, as well as some non-IFRS performance measures as additional information for investors who also use them to evaluate
our performance. Since there is no standard method for calculating non-IFRS measures, they are not a reliable way to compare us
against other companies. Non-IFRS measures should be used with other performance measures prepared in accordance with IFRS. We
have defined our non-IFRS measures below and reconciled them with the IFRS measures we report.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>Cash Operating Cost, Total Cash Cost</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 11pt">The table below reconciles cash operating cost and total cash
cost to operating costs. We calculate costs according to the Gold Institute Standard.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 7pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #EAEFE5">
    <TD STYLE="width: 56%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Reconciliation of cash operating costs to production costs for&nbsp;&nbsp;continuing operations</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; font-size: 8pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">For the 3 months ended March 31,</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>&nbsp;2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Production costs</B> (from consolidated income statement)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">50.7</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">45.2</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Vila Nova and Stratoni production costs</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.8</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">4.2</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Production costs &#8211; excluding Vila Nova and Stratoni</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">36.9</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">41.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">By-product credits and other adjustments</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(1.1)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(0.8)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Total cash cost</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">35.8</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">40.2</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Royalty expense and production taxes</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(1.3)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(1.3)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Cash operating cost</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$34.5</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$38.9</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Gold ounces sold </FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">74,068</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">74,983</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Total cash cost per ounce sold</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">483</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">536</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Cash operating cost per ounce sold</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">466</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">519</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #EAEFE5">
    <TD STYLE="width: 56%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Reconciliation of cash operating costs to production costs (including discontinued operations for 2016)</B></FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 0.1pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">For the 3 months ended March 31,</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>&nbsp;2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Production costs</B> <B>&#8211; excluding Vila Nova and Stratoni</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">36.9</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">41.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Production costs &#8211; discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.0</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">47.7</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Production costs &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">36.9</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">88.7</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">By-product credits and other adjustments</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(1.1)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(0.8)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Total cash cost &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">35.8</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">87.9</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Royalty expense and production taxes</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(1.3)</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(7.4)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Cash operating cost &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">34.5</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">80.5</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Gold ounces sold &#8211; including discontinued operations</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">74,068</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">133,467</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Total cash cost per ounce sold &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/200% Arial, Helvetica, Sans-Serif">483</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/200% Arial, Helvetica, Sans-Serif">658</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Cash operating cost per ounce sold &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/200% Arial, Helvetica, Sans-Serif">466</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; font-size: 8pt; text-align: right"><FONT STYLE="font: 8pt/200% Arial, Helvetica, Sans-Serif">603</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>All-in Sustaining Cash Cost</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">All-in sustaining costs are calculated by taking total cash costs
and adding sustaining capital expenditures, corporate administrative expenses, exploration and evaluation costs, and reclamation
cost accretion. Sustaining capital expenditures are defined as those expenditures which do not increase annual gold ounce production
at a mine site, and exclude all expenditures at the Company&#8217;s projects. Certain other cash expenditures, including tax payments,
dividends and financing costs are also not included. The Company believes that this measure represents the total costs of producing
gold from current operations, and provides the Company and other stakeholders of the company with additional information of the
Company&#8217;s operational performance and ability to generate cash flows. The Company reports this measure on a gold ounces sold
basis.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #EAEFE5">
    <TD STYLE="width: 55%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Calculation of all-in sustaining cash costs &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(including discontinued operations in 2016)</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 11%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 12%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #EAEFE5">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">For the 3 months ended March 31,</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Total cash cost &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">35.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">87.9</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Sustaining capital spending at operating gold mines</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">8.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">16.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Exploration spending at operating gold mines</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">1.1</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>General and administrative expenses</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">13.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">12.9</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>All-in sustaining cash costs &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">58.6</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">118.2</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Gold ounces sold &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">74,068</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">133,467</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>All-in sustaining cash cost per ounce sold &#8211; including discontinued operations</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">791</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAEFE5; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">886</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>(1)</I></FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Excludes G&amp;A expenses related to business development activities
and projects. Includes share based payments expense and defined benefit pension plan expense as well as asset retirement obligation
accretion expense.</I></FONT></TD></TR></TABLE>

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>Cash Flow from Operations before Changes in Non-cash Working Capital</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">We use <I>cash flow from operations (or operating activities) before
changes in non-cash working capital</I> to supplement our consolidated financial statements, and calculate it by not including
the period to period movement of non-cash working capital items, like accounts receivable, advances and deposits, inventory, accounts
payable and accrued liabilities. We believe this provides an alternative indication of our cash flow from operations and may be
meaningful to investors in evaluating our past performance or future prospects. It is not meant to be a substitute for cash flow
from operations (or operating activities), which we calculate according to IFRS.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>Adjusted Net Earnings</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company has included non-IFRS performance measures, <I>adjusted
net earnings</I> and <I>adjusted net earnings per share</I>, throughout this document. Adjusted net earnings excludes gains/losses
and other costs incurred for acquisitions and disposals of mining interests, impairment charges, unrealized and non-cash realized
gains/losses of financial instruments and foreign exchange impacts on deferred income tax. The Company also excludes net earnings
and losses of certain associates that the Company does not view as part of the core mining operations. The Company excludes these
items from net earnings to provide a measure which allows the Company and investors to evaluate the results of the underlying core
operations of the Company and its ability to generate cash flow. Accordingly, it is intended to provide additional information
and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following table provides a reconciliation of adjusted net earnings
to the consolidated financial statements for the years ended December 31:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 77%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif; margin: 2pt 0 0"><B>Reconciliation of adjusted net earnings to consolidated
        net earnings (loss)</B></P>
        <P STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif; margin: 2pt 0 0">For the 3 months ended March 31,</P></TD>
    <TD STYLE="width: 2%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif"><B>Net (loss) earnings attributable to shareholders</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>3.8</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>(2.5)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Loss on disposal of assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Loss on disposition of subsidiary</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">3.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Losses (gains) on available-for-sale securities</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">4.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Unrealized losses (gains) on foreign exchange translation of deferred income tax balances</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">2.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(4.2)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Deferred tax recovery from gain in Other Comprehensive Income</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">(2.1)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Inventory write-down</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">1.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Other write-down of assets</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif"><B>Total adjusted net earnings (loss)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>8.0</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>(0.7)</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">Weighted average shares outstanding</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">716,587</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">716,587</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 7.5pt"><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif"><B>Adjusted net earnings ($/share)</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; font-size: 7.5pt; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>0.01</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EAF1DD; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>0.00</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>Gross Profit from Gold Mining Operations</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gross profit from gold mining operations represents gross revenues
from gold mining operations less production costs and depreciation, depletion and amortization related to those operations.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Quarterly Results</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">Millions (except per share amounts)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #EAEFE5">
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2017</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2016</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2015 </B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2015</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>2015</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #EAEFE5">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q1</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q4</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q3</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q2</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q4</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q3</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif"><B>Q2</B></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Total revenues</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$111.9</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$140.6</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$174.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$171.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$164.1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$199.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$211.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$214.2</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Profit (loss)<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$3.8</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($32.5)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$20.7</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($329.9)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($2.5)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; font-size: 11pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($1,238.0</FONT><FONT STYLE="font: 7.5pt/109% Arial, Helvetica, Sans-Serif">)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($96.1)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($198.6)</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Earnings (loss) per share<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">- basic</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$0.01</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.05)</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$0.03</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.46)</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.00)</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($1.73)</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.13)</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.28)</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">- diluted</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$0.01</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.05)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">$0.03</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.46)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.00)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($1.73)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.13)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">($0.28)</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 2px">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.2pt; text-indent: -7.1pt"><FONT STYLE="font-size: 7pt"><I>(1)</I></FONT><I><FONT STYLE="font-size: 8pt"><SUP>
</SUP>Attributable to shareholders of the Company</FONT></I></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Financial Condition &amp; Liquidity</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Operating Activities</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Net cash provided by operating activities was $47.8 million (2016:
$7.5 million, including discontinued operations). Operating activities before changes in non-cash working capital from continuing
operations generated $28.2 million in cash in 2017 compared to $8.4 million in 2016.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Investing Activities</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company invested $73.8 million in capital expenditures this year.
Evaluation and development expenditures, including capitalized drilling programs, totalled $55.5 million while sustaining capital
spending at our producing mines totalled $8.9 million. A total of $9.2 million in bond interest was also charged to capital projects.
The remaining $0.2 million related to fixed assets for our corporate offices in Canada, Brazil, Turkey, Greece, and Romania.</P>


<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Financing Activities</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company paid a dividend of $10.6 million to shareholders during
the first quarter.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Capital Resources</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #EBF4DC">
    <TD STYLE="width: 53%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 21%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>March 31, 2017</B></FONT></TD>
    <TD STYLE="width: 26%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>December 31. 2016</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Cash, cash equivalents and term deposits</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">873.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">888.5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Working capital</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">993.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">1,001.5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Restricted collateralized accounts</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.2</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">0.2</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">Debt &#8211; current and long-term</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">591.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt/109% Arial, Helvetica, Sans-Serif">591.6</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Management believes that the working capital at March 31, 2017, together
with future cash flows from operations and, where appropriate, selected financing sources, including available credit lines, are
sufficient to support our planned and foreseeable commitments, and dividends, if declared, in 2017 and beyond.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>Contractual Obligations</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt">As at March 31, 2017</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #EBF4DC">
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Within 1 year</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2 to 3 years</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>4 to 5 years</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Over 5 years</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 7.8pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Debt</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">600.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">600.0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Capital leases</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.4</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.15in; text-indent: -0.15in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Operating leases</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.3</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.1</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">27.7</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Purchase obligations</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">62.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.0</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">-</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">63.9</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Totals</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; padding-left: 0.3in; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">75.9</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.6</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">605.5</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.8</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 2pt 0.1in 2pt 0.3in; background-color: #EBF4DC; text-align: right; text-indent: -0.3in">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #EBF4DC; padding-top: 2pt; padding-right: 0.1in; padding-bottom: 2pt; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">692.8</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 76.05pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Purchase obligations relate primarily to mine development expenditures
in Greece and mine operating costs in Turkey. The table does not include interest on debt.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As at March 31, 2017, Hellas Gold (&#8220;Hellas&#8221;) had entered
into off-take agreements pursuant to which Hellas agreed to sell a total of 50,500 dry metric tonnes of zinc concentrates, 12,500
dry metric tonnes of lead/silver concentrates, and 18,000 dry metric tonnes of gold concentrate through the financial year ending
December 31, 2017.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In April 2007, Hellas agreed to sell to Silver Wheaton (Caymans)
Ltd. (&#8220;Silver Wheaton&#8221;) all of the payable silver contained in lead concentrate produced within an area of approximately
seven square kilometres around Stratoni. The sale was made in consideration of a prepayment to Hellas of $57.5 million in cash,
plus a fixed price per ounce of payable silver to be delivered of the lesser of $3.90 and the prevailing market price per ounce,
adjusted higher every April by 1%. For the period April 2017 through March 2018, this amount is equal to $4.22 per ounce. In October
2015 the agreement with Silver Wheaton was amended to provide an increase in the price per ounce of payable silver to be delivered
to Hellas based on Hellas achieving certain exploration drilling milestones.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In May 2013, the Company, in connection with Hellas Gold, entered
into a Letter of Guarantee in favour of the Greek Ministry of Environment, Energy and Climate Change, in the amount of EUR50.0
million, as security for the due and proper performance of rehabilitation works committed in connection with the Environmental
Impact Assessment approved for the Kassandra Mines (Stratoni, Olympias and Skouries). The Letter of Guarantee is renewed annually
and expires on July 26, 2026. The Letter of Guarantee has an annual fee of 57 basis points.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As at December 31, 2016, Tuprag Metal Madencilik Sanayi Ve Ticaret
A.S. (&#8220;Tuprag&#8221;) had entered into off-take agreements pursuant to which Tuprag agreed to sell a total of 34,000 dry
metric tonnes of gold concentrate through the financial year ending December 31, 2017.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Debt</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Senior Notes</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">On December 10, 2012, the Company completed an offering of
$600.0 million senior notes (&#8220;the notes&#8221;) at par value, with a coupon rate of 6.125% due December 15, 2020. The notes
pay interest semi-annually on June 15 and December 15. Net deferred financing costs of $8.2 million have been included as an offset
in the balance of the notes in the financial statements and are being amortized over the term of the notes.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 12pt">The fair market value of the notes as at March 31, 2017 is
$615.0 million.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Equity</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0 3pt 21.3pt; text-indent: -21.3pt">Common shares outstanding</P>
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0 3pt 21.3pt; text-indent: -12.3pt">- as of March 31, 2017</P>
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0 3pt 21.3pt; text-indent: -12.3pt">- as of April 27, 2017</P></TD>
    <TD STYLE="width: 28%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0; text-align: right"><B>&nbsp;</B></P>
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0; text-align: right">716,816,593</P>
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0; text-align: right">716,820,080</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0 3pt 21.3pt; text-indent: -21.3pt">Share purchase options</P>
        <P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 3pt 0 3pt 21.3pt; text-indent: -12.3pt">- as of April 27, 2017</P>
        <P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 3pt 0">(Weighted average exercise price per share: $6.18 Cdn)</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; font-size: 9pt; text-align: right"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif">30,425,875&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Other Information </B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify"><B>New Accounting Developments</B></P>

<P STYLE="font: 10pt/13pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">The following standard has been published
and is mandatory for Eldorado's annual accounting periods no earlier than January 1, 2018:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">IFRS 2 <I>&#8216;Share-Based Payments&#8217;</I>
&#8211; In June 2016, the IASB issued final amendments to this standard. IFRS 2 clarifies the classification and measurement of
share-based payment transactions. These amendments deal with variations in the final settlement arrangements including: (a) accounting
for cash-settled share-based payment transactions that include a performance condition, (b) classification of share-based payment
transactions with net settlement features, and (c) accounting for modifications of share-based payment transactions from cash-settled
to equity. IFRS 2 is effective for annual reporting periods beginning on or after January 1, 2018, with early adoption permitted.
The Company is currently evaluating the extent of the impact of the adoption of this standard. A detailed review will be completed
during the following months of 2017. The Company does not currently expect the impact of these changes to be material.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">IFRS 9 <I>&#8216;Financial Instruments&#8217;
</I>&#8211; This standard was published in July 2014 and replaces the existing guidance in IAS 39, &#8216;Financial Instruments:
Recognition and Measurement&#8217;. IFRS 9 includes revised guidance on the classification and measurement of financial instruments,
including a new expected credit loss model for calculating impairment on financial assets, and the new general hedge accounting
requirements.</FONT> <FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">It also carries forward the guidance on recognition
and derecognition of financial instruments from IAS 39. IFRS 9 is effective for annual reporting periods beginning on or after
January 1, 2018, with early adoption permitted. </FONT></TD></TR></TABLE>


<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">The Company is currently evaluating
all its equity investments that move through other comprehensive income to assess the option of electing for these investments
to be recorded directly into its profit and loss results or continue recording against other comprehensive income with no profit
and loss effect on sale. The company is also assessing the impact of applying hedge accounting to hedge components of non-financial
items. A detailed review will be completed during the following months of 2017.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">IFRS 15 &#8216;<I>Revenue from Contracts
with</I> <I>Customers</I>&#8217; &#8211; This standard contains a single model that applies to contracts with customers and two
approaches to recognising revenue: at a point in time or over time. The model features a contract-based five-step analysis of transactions
to determine whether, how much and when revenue is recognized. New estimates and judgmental thresholds have been introduced, which
may affect the amount and/or timing of revenue recognized. This standard is effective for annual reporting periods beginning on
or after January 1, 2018, with early adoption permitted. The Company is currently evaluating the extent of the impact of the adoption
of this standard as some of its gold sales are subject to pricing adjustments. A detailed review of contracts will be completed
during the following months of 2017.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">IFRS 16 <I>&#8216;Leases&#8217; </I>&#8211;
This standard was published in January 2016 and replaces the existing guidance in IAS 17, &#8216;Leases&#8217;. IFRS 16 introduces
a single accounting model for lessees and for all leases with a term of more than 12 months, unless the underlying asset is of
low value. A lessee will be required to recognize a right-of-use asset, representing its right to use the underlying asset, and
a lease liability, representing its obligation to make lease payments. The accounting treatment for lessors will remain largely
the same as under IAS 17. IFRS 16 is effective for annual reporting periods beginning on or after January 1, 2019, with early adoption
permitted. The Company is currently evaluating all operating leases as it is expected that, under this standard, the present value
of most lease commitments will be shown as a liability on the balance sheet together with an asset representing the right of use,
including those classified as operating leases under the existing standard. Information on the undiscounted amount of the Company&#8217;s
operating lease commitments at December 31, 2016 under IAS 17, the current lease standard, is disclosed within note 22 of the Company&#8217;s
annual financial statements for the year ended December 31, 2016.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">There are other new
standards, amendments to standards and interpretations that have been published and are not yet effective. The Company believes
they will have no material impact on its consolidated financial statements.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: white"><B>Internal Controls
over Financial Reporting</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">Eldorado&#8217;s management
is responsible for establishing and maintaining adequate internal control over financial reporting. Any system of internal control
over financial reporting, no matter how well designed, has inherent limitations. As a result, even those systems determined to
be effective can only provide reasonable assurance regarding the preparation and presentation of our financial statements. There
have been no changes in our internal control over financial reporting in the first quarter of 2017 that have materially affected,
or are reasonably likely to materially affect, our internal control over financial reporting.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: white"><B>Qualified
Person</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">Except as otherwise
noted, Paul Skayman, P. Eng., our Chief Operating Officer, is the Qualified Person under NI 43-101 responsible for preparing and
supervising the preparation of the scientific or technical information contained in this MD&amp;A and verifying the technical
data disclosed in this document relating to our operating mines and development projects.&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: white">&nbsp;</P>


<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="2" STYLE="text-align: right"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">(in United States dollars, tabular amounts in millions, except where noted)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><P STYLE="font: bold 9pt Arial, Helvetica, Sans-Serif; margin: 0">MANAGEMENT&rsquo;S DISCUSSION and ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-weight: normal">for the three-month period
ended March 31, 2017</FONT></P>



</TD>
    <TD STYLE="text-align: right">&nbsp;<IMG SRC="image_006.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: justify; background-color: white"><B>Forward-Looking
Information and Risks</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">This MD&amp;A includes statements and information about what we expect
to happen in the future. When we discuss our strategy, plans, outlook, and future financial and operating performance, price of
gold and other commodities, cash costs targets; production and expenditures, our mineral reserve and resource estimates, our proposed
exploration, development and acquisitions; our expectations as to future performance at our mines, or other things that have not
yet happened in this review, we are making statements considered to be <I>forward-looking information </I>or<I> forward-looking
statements</I> under Canadian and United States securities laws. We refer to them in this document as <I>forward-looking information</I>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9pt 0 6pt">Key things to understand about the forward-looking information
in this document:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>It typically includes words and phrases about the future, such as: <I>plan, expect, forecast, intend, anticipate, believe,
estimate, budget, continue, projected, scheduled, may, could, would, might, will</I>, as well as the negative of these words and
phrases.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>Although it represents our current views, which we consider to be reasonable, we can give no assurance that the forward-looking
information will prove to be accurate.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>It is based on a number of assumptions, estimates and opinions including things like the future price of gold and other commodities,
the political, economic, permitting and legal environment in which we operate, currency exchange rates, anticipated costs and spending,
production, mineral reserve and resource estimates and metallurgical recoveries, impact of acquisitions, dispositions, suspensions
or delays on our business and our ability to achieve our goals.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>It is also subject to the risks associated with our business, including</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>volatility of global and local economic climate and geopolitical risk</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>title, permitting and licensing risks,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>gold and other metal price and currency volatility and the impact of any hedging activities,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>risks associated with mining operations and development,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>risks of operating in foreign countries,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>regulatory risks,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>actual and estimated production and cost of production,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>discrepancies between actual and estimated mineral reserves and resources,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>the speculative nature of gold exploration,</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>acquisition risks, and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9pt"></TD><TD STYLE="width: 9pt">&#8226;</TD><TD>other risks that are set out in our Annual Information Form.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0">If our assumptions prove to be incorrect or the risks materialize,
our actual results and events may vary materially from what we currently expect.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0">Forward-looking information is designed to help you understand
management&#8217;s current views of our near and longer term prospects, and it may not be appropriate for other purposes. We will
not necessarily update this information unless we are required to by securities laws.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0">The Company&#8217;s operations are subject to a number of
risks and other uncertainties, including risks related to the Company&#8217;s foreign operations, government, environmental and
other regulations and operating costs. Occurrence of various factors and uncertainties of risk cannot be accurately predicted and
could cause actual results to differ significantly from our current expectations and result in a material adverse effect on the
Company&#8217;s operations or profitability. A comprehensive discussion of the Company&#8217;s risks and uncertainties is set out
in our Annual Information Form dated March 30, 2017. By this reference we hereby incorporate this discussion as a part of this
MD&amp;A. The reader is directed to carefully review this discussion for a proper understanding of these risks and uncertainties.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>



<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>ceo.htm
<DESCRIPTION>FORM 52-109F2 CERTIFICATION OF INTERIM FILINGS - CEO
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form 52-109F2</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Certification of Interim Filings</I></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Full Certificate</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">I, Paul Wright, President and Chief
Executive Officer of Eldorado Gold Corporation certify the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">I have reviewed the interim financial report and interim MD&amp;A (together, the &#8220;interim
filings&#8221;) of Eldorado Gold Corporation (the &#8220;issuer&#8221;) for the interim period ended March 31, 2017.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain
any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement
not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Based on my knowledge, having exercised reasonable diligence, the
interim financial report together with the other financial information included in the interim filings fairly present in all material
respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented
in the interim filings. </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The issuer&#8217;s other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (DC&amp;P) and internal control over financial reporting (ICFR),
as those terms are defined in National Instrument 52-109 <I>Certification of Disclosure in Issuers&#8217; Annual and Interim Filings,</I>
for the issuer.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Subject to the limitations, if any, described in paragraphs 5.2 and
5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the end of the period covered by the interim filings</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">designed DC&amp;P, or caused it to be designed under our supervision, to provide reasonable assurance
that</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">material information relating to the issuer is made known to us by others, particularly during
the period in which the interim filings are being prepared; and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">information required to be disclosed by the issuer in its annual filings, interim filings or other
reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods
specified in securities legislation; and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with the issuer&#8217;s GAAP.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD STYLE="text-align: justify">The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s
ICFR is the Committee of Sponsoring Organizations of the Treadway Commission (2013) (COSO) framework.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.2</TD><TD STYLE="text-align: justify">N/A</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35pt">5.3</TD><TD STYLE="text-align: justify">N/A</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">The issuer has disclosed in its interim MD&amp;A any change in the issuer&#8217;s ICFR that occurred
during the period beginning on January 1, 2017<B><I> </I></B>and ended on March 31, 2017 that has materially affected, or is reasonably
likely to materially affect, the issuer&#8217;s ICFR.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date: April 27, 2017</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>&#8220;Paul N. Wright&#8221;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">_______________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Paul Wright</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">President &amp; Chief Executive Officer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>cfo.htm
<DESCRIPTION>FORM 52-109F2 CERTIFICATION OF INTERIM FILINGS - CFO
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form 52-109F2</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Certification of Interim Filings</I></P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>Full Certificate</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">I, Fabiana Chubbs, Chief Financial Officer
of Eldorado Gold Corporation certify the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">I have reviewed the interim financial report and interim MD&amp;A (together, the &#8220;interim
filings&#8221;) of Eldorado Gold Corporation (the &#8220;issuer&#8221;) for the interim period ended March 31, 2017.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain
any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement
not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Based on my knowledge, having exercised reasonable diligence, the
interim financial report together with the other financial information included in the interim filings fairly present in all material
respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented
in the interim filings. </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">The issuer&#8217;s other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (DC&amp;P) and internal control over financial reporting (ICFR),
as those terms are defined in National Instrument 52-109 <I>Certification of Disclosure in Issuers&#8217; Annual and Interim Filings,</I>
for the issuer.</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 11pt">5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">Subject to the limitations, if any, described in paragraphs 5.2 and
5.3, the issuer&#8217;s other certifying officer(s) and I have, as at the end of the period covered by the interim filings</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">designed DC&amp;P, or caused it to be designed under our supervision, to provide reasonable assurance
that</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">material information relating to the issuer is made known to us by others, particularly during
the period in which the interim filings are being prepared; and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">information required to be disclosed by the issuer in its annual filings, interim filings or other
reports filed or submitted by it under securities legislation is recorded, processed, summarized and reported within the time periods
specified in securities legislation; and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">designed ICFR, or caused it to be designed under our supervision, to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with the issuer&#8217;s GAAP.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.1</TD><TD STYLE="text-align: justify">The control framework the issuer&#8217;s other certifying officer(s) and I used to design the issuer&#8217;s
ICFR is the Committee of Sponsoring Organizations of the Treadway Commission (2013) (COSO) framework.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.2</TD><TD STYLE="text-align: justify">N/A</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;</TD><TD STYLE="text-align: right; width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 35pt">5.3</TD><TD STYLE="text-align: justify">N/A</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">The issuer has disclosed in its interim MD&amp;A any change in the issuer&#8217;s ICFR that occurred
during the period beginning on January 1, 2017<B><I> </I></B>and ended on March 31, 2017 that has materially affected, or is reasonably
likely to materially affect, the issuer&#8217;s ICFR.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date: April 27, 2017</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B><I><BR>
<BR>
</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><I>&#8220;Fabiana Chubbs&#8221;</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">_______________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Fabiana Chubbs</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Chief Financial Officer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>image1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image1.jpg
M_]C_X  02D9)1@ ! 0$!+ $L  #_VP!#  ," @," @,# P,$ P,$!0@%!00$
M!0H'!P8(# H,# L*"PL-#A(0#0X1#@L+$!80$1,4%145# \7&!84&!(4%13_
MVP!# 0,$! 4$!0D%!0D4#0L-%!04%!04%!04%!04%!04%!04%!04%!04%!04
M%!04%!04%!04%!04%!04%!04%!04%!3_P  1" ,J!_8# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#]4Z*** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M"BBBNH@**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MSS#.%;2M#XO-=)+]>S]4?)8W"_5YWC\+_JQ:HHHK[L\X**** "BBB@ HHHH
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M<R>59G2Q%[1O:7^%Z/[M_5'+BJ7MJ4H]>GJ?5E%("& (Y!YI:_KD^)"BBB@
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M\ Z4IZNK2'_@3DC]"*ZVO[ R&FZ6586#WY(_DCXC$N]:;\V%%%%>Z<P4444
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M1FC6 TO2+*S7I;PI%^2@5=HHK^S:<(TX*$=DK'PC=W=A1115B"BBB@ HHHH
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% '.>/?%2>$?#=Q> @W+#
MR[=3WD/3CT'7\*^7I)&E=G=B[L269CDD^M=Y\8_%)U[Q.UG$Y-I89B '0R?Q
MG\^/PK@:_F'C3.7FF8NE3?[NE>*\W]I_?IZ(^NP%#V-+F>["BBBO@#T@HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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MOA?\+_\ A&@NIZHJMJ;#"1<,( ??NWN*])K]^X/X2^I\N89A']Y]F+^SYO\
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M1.3UW+W/U&#^-?M_AUFG\7+*C_O1_*2_)_>?/YI1VJKT9U5%%%?MQ\^%%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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MP]!8>FH+YA1117SYTA1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M** "BBB@ HHHH **** "BBB@ HHHH **** "BBJVI7J:;I]S=R\1P1M(W..
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M/:M47HOU"BBBOQ(^@"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH UO">JG0_$NFWV=JPSJ7/^SG#?H37U>#D U\=U]6>#=2.
MK>%=*NR=SR6Z;S_M 8;]0:_;O#?%ZXC!M]I+\G^A\_FL/AG\C9HHHK]O/GPH
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M!XT*3:Y=&3@'[+;G ^C-_A^=>I:5HUCHEJ+>PM8K6$?PQKC/N3W/N:_3\HX
MQN+M4Q[]E#MO)_HOGKY'D5\RIPTIZO\  \N\)_ F*-4N-?G,C\'[);MA1[,W
M4_ACZFO5K#3[72[9+>SMX[:!/NQQ*%4?@*L45^VY7DF R>')A*:3ZO>3]7^F
MWD?/UL14KN\V%%%%>X<X4444 %%%% !1110 4444 %%%% !1110 444C,%!)
M( '))H 6O)/BC\5UM5GT;19#]IR4N+M3Q'ZJA_O=B>W;GD4/B?\ %DW/FZ3H
M<P\@@K/=H<[P>JH?3U/?M[^1U^(\6<9?%E^62\I37XJ/ZO[NY]!@L!M5K+T7
M^8M)117X@?0!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !
M1110 4444 %%%% !7T-\$+\7?@E8<Y-M.\>/0'YO_9C7SS7L?[/MZ<:Q:$\?
MNY5'_?0/_LM?H/ F(]AG<(?SJ4?PYOT/,S&/-AV^UCV.BBBOZ</D@HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** *]_<BSL;B<](HV<_@,U\ANQ=V8DDDY)/>OJ?QS<FU\':S(#@BUD /N5(_
MK7RM7X/XDU;U\-1[*3^]I?H?1Y5'W9R] HHHK\:/="BBB@ HHHH **** "BB
MB@ HHHH **T-)T#4M<E\NPLI[MLX)C0D#ZGH/QKT7P_\!K^Y;?J]W':18&(X
M#OD/U/0?K7N9?DF8YH[82BY+OLOO>ASU<12H_'(\JKIO#WPZU[Q*0UM9-% ?
M^6]Q\B?@3R?P!KWG0/AOH'AS#6]BLTP_Y;7'[QOUX'3L*Z>OU++?#G:>8UO^
MW8__ "3_ $7S/'JYITI1^\\T\-? [2],99M3F;4I@/\ 5XV1#\.I_/\ "O1+
M.QM]/@6&U@BMH5Z1Q(%4?@*GHK]8R_*<#E<.3!TE'SZOU;U?WGC5:U2L[S=P
MHHHKUS **** "BBB@ HHHH **** "BBB@ HHHH **** "BBLW7_$%CX9TV2^
MOYA%"G  &68]@!W/^>E95:M.A"56K)1BM6WHDAI.3LMRY=W<-C;2W%Q*L,$:
MEGD<X"@=S7A'Q)^*\WB%IM,TLM!I@8J\P.&N!_1?;N.N.E8OCKXD:AXSF,7-
MIIRGY+9&/S<\%_4_H/UKD*_G[BCC.>8*6#RYN-+9RV<O+RC^+ZZ:'TV#P"I_
MO*N_;L%%%%?E![(4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %>C_  )NS!XPFAS\LUJPQZD,I_D#7G%=C\([
MDVWC_3.>)-Z'\4;^N*^AX=J^QS?"S_OQ7WNWZG+BH\U":\CZ5HHHK^O#XD**
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@#DOBO/\ 9_ &K-SRJ)Q[NH_K7S-7T=\9GV> ;T?WI(Q_X^#_ $KY
MQK^=/$6=\UIQ[4U_Z5(^HRM?N6_/_(****_+3V HHHH **6M/3O#&KZN5^QZ
M;=7"MT=(F*_GTK6E1J5I<E*+D^R5_P B7)15VS+HKT'2_@CXAOL&X$%@A&?W
MK[C^2YKK](^ 5A 0VHZC-='KL@41K]"3DG]*^LPG"&=8RSC0<5WE:/X/7\#C
MGCL/#>5_0\/K8T;PAK/B  Z?IT]PA.!(%VI_WT<#]:^CM)\ ^']%*M;:5;B1
M>DDB[V'OELXK?  & ,"ON\%X;R=I8[$?*"_5_P#R)YU3-?\ GW'[SP[1?@)J
M-SM?4[V&S3O'"/,?^@'ZUWNB_"'PWH^UFM#?R@??NVWC_OG[OZ5VM%?H6 X3
MR?+[.G14I=Y>\_QT7R2/+J8VO5WE;TT(X+>*VC6.&-(HUX"(H 'X"I***^N2
M25D<04444P"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **9+*D$
M;22.L<:C+,QP /K7D/COXUJ%EL?#Y);)5[YAQC_IF/ZG\!T->'FV<X/)J/ML
M7.W9=7Z+]=EU.BC0J5Y<L$=IXW^(^G>#86C;_2K\CY+:-AD9!P6]!Q[FOGWQ
M-XIU#Q7J#75_.TF"1''_  QKGH /Y]3BLR>>2YF>6:1I97.6=SDD^I-1U_.&
M?\48S/9\DO<I+:*_-]W^"Z'U6&PD,.KK5]PHHHKXT[@HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "NA
M^'TWD>-M%;.,W*+^9Q_6N>K6\)OY?BG1V_NWD)_\?%=^7S]GC*,^THO\49U5
M>$EY,^L****_LX^#"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 45RWBOXC
MZ+X2#1W%Q]HO!_RZV^&<=/O=EZ@\]NF:\6\7_%76/%+20I)]@L"<""$X+#_:
M;J?T'M7Q><\69=D]X2ESU%]F/ZO9?GY'?0P56OK:R[GK'C#XN:3X9WP6Y&I7
MP_Y91-\B_P"\W]!FO$/%'C/5?%]UYM_<$QC[EO'E8D^BYZ\]3D^]85%?@N=<
M49AG;<*DN6G_ "K;Y]7\].R1]'A\'2P^J5WW"BBBOD#N"BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH *U_"$9E\6:,@&<WD/_H8K(KI/AS#Y_CC1EZXN%;\N?Z5Z
M&70]IC:,.\HK\4957:G)^3/J*BBBO[-/A HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %>U_L_6.RPU>\(_UDB1 _[H)/\ Z$*\4KZ-^#6G_8? EJY7:US(\Q]^
M=H/Y**_1> L/[;.HU/Y(R?\ [;^IY>92Y:#7=K_,[FBBBOZ8/DPHHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH ***0G% "T5BZGXTT+1\B[U6UB8=4$@9O
M^^1DUQ6K_'K2+7>MA9W%\X. SXB1O<'D_I7A8W/<LR]?[37BGVO=_<KO\#HI
MX>K5^"+/3Z9+,D$;/(ZQHHR68X KY_UCXW^(-0RMH(-.3_IFF]OS;/\ *N+U
M+7=1UA]]]?7%T?\ IK(6 ^@[5\'C?$3 4;QPE*51]W[J_5_@CTJ>5U)?&TOQ
M/H76_BUX;T52!>?;Y1_RSLQOS_P+[OZUP.N_'N]N-T>DV4=HG:6<[WQ].@_6
MO*:*_/,?QSF^,O&G)4X_W5K][N_NL>G3RZA3W5_4V-8\7:SKY/V_49[A22=A
M;"<_[(P/TK'HHKX2M7JXB?M*TW*7=MM_B>C&*BK15@HHHK$H**** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@!54LP &23@
M 5]:>'--_LC0-/LN\$"1GZ@#/ZU\U^ -)_MOQCI=J5W)YPD<?[*_,?Y5]2U^
MY^&^#M3Q&,:W:BOEJ_S1\]FL]8P^84445^U'@!1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% 'K
M'P"T?SM3U'4W7Y88Q"A/]YCDX_ ?K7MU<7\(M$_L;P3:,R[9;LFY?_@7W?\
MQT+7:5_6'"F!^H9/0IM>])<S]9:_@K+Y'QF,J>UKR?R^X****^M.(**** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH X+XSZ"=7\'R7$:%I[%Q.,#G9T8?3!S_ ,!KYVK["N+>.[MY8)5#
MQ2*493T((P17RAXET5_#VO7VG29)MY"H)ZLO53^((/XU^!^(N6^SQ%+,(+2:
MY7ZK;[U^1])E=6\72?34S****_'CW HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ K3\-:.^OZ_8Z>@YGE"GV7JQ_  FLRO7/@+X=\V[O-9E3Y(AY$)
M(_B/+$?08'XU[^0Y<\US*CA;:-W?^%:O\-/4YL35]C2E,]F@@2V@CAC4)'&H
M15'8 8 J2BBOZ]225D?$!1113 **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *\6^/7ASR[FSUJ%/ED
M'D3D?WARI_+(_ 5[365XIT&+Q+H-YITN/WR$(Q_A8<J?SQ7SG$.5K-\MJX5?
M%:\?\2U7W[>C.K#5O855/IU/DZBI;FVDL[F6"9#'-$Y1T/56!P145?R,TXMI
M[GVVX4444@"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH <B-(P5068G  ZDU
M]4>"?#X\,>&+'3R )43=*0<YD/+<]^3CZ 5XE\'/"XU_Q0+J5=UKIX$S ]"_
M\ _,$_\  :^B:_>/#O*G3I5,RJ+67NQ]%N_F]/DSYS-*UY*DNFK"BBBOV4\(
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@#PKXX>$O[/U2/6K>,^1=G;.1T60#@_B/U!
M]:\NKZR\3Z#%XFT*\TV4A1.A"N1G8W56_ X-?+6LZ1<Z%J=Q87B>7<0-M8=O
M4$>Q&"/K7\W<<Y*\OQWURE']W5U\E+JOGO\ ?V/JLNQ'M:?LWNOR*5%%%?F9
MZP4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %.1&D<*H+,3@ #DFFUZ!\&_"9U[Q&
M+Z>,FSL"),GHTG\(]\=?P'K7I9;@*N9XNGA*6\W;T75_):F56HJ4'.70]?\
MASX6'A/PO;6S@?:I?WTY Q\Y[?@,#\*Z>BBO[ PF%IX+#PPU%6C!)+Y'P\YN
MI)SENPHHHKK("BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH *
M*** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH
MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB
M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M445\:=X4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M%%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4
M444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !11
M10 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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MSY_HKWM?@)H 8$WFH$>AD3G_ ,<J=/@7X<4\O>M]91_\364> <Z>ZBO^WO\
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M(GS2"BBBO?.8**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
MB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% 'R!^TK_P E1N?^O:'_
M -!KRNO5/VE?^2HW/_7M#_Z#7E=;K8S>Y[A^RA_R.6K_ /7A_P"U$KZCKY<_
M90_Y'+5_^O#_ -J)7U'64MRH[!1114E!1110 4444 %%%% !1110 4444 %%
M%% !1110 4444 %%%% 'S-^UG_R'M!_Z]I/_ $(5X+7O7[6?_(>T'_KVD_\
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M "9OXT_Z[6'_ *60U^'M !7L/['W_)T?PM_[&"T_]&"O'J]A_8^_Y.C^%O\
MV,%I_P"C!0!_0+1110 4444 %%%% !1110 4444 %%%% !1110 444UW6-2S
M,%4<DDXH =17F?B?]IGX3>#)7AUGXC>&;*X3[UNVJ0M*.<<HK%NH/;M7+P_M
MQ_ B>;RE^)NB!O5Y&5?S*XH ]THKDO!?Q<\$?$<,?"OB[1/$17[R:9J$4[+]
M0K$C\:ZV@ K\(/\ @H+_ ,GA?$?_ *^H/_2:&OW?K\(/^"@O_)X7Q'_Z^H/_
M $FAH ^>**** /VI_P""6'_)I6E_]A2]_P#0Q7U[7R%_P2P_Y-*TO_L*7O\
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M%% !1110 4444 %%%% !1110 4444 %%(3BL+Q#X^\,>$O\ D.>(M*T;C/\
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MFU2*%W8G  5V!))["O4K2\M[^W2>VGCN()!N22)PRL/4$=: )J*** "BBB@
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M5KJ[M.U*TOUQG-M.LG\C0!HT444 ?,W[6?\ R'M!_P"O:3_T(5X+7O7[6?\
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MN+B5(((E+R2R,%5% R22>  .]?D-^W[^WM<?&&_N_ '@*]FM/!-K*\-_?1.
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MT_Q7X3U%-2TB\7Y6'#Q./O1R+U5U/!!^O(() .NHHHH **** "BBB@ HHHH
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MBG2%:TOXF%KJNFR?>L[H*"R@_P :$,&5QU!&<,&5?7J "BBB@ HHHH ****
M"BBB@ HHHH **** "OE+]JO_ (*$^"/V=9;SP_IH_P"$K\=1+M;2[=BL-FQ7
M*F>7&!U!V+EO7;D&O%_^"@O_  4$E\'3ZG\,/ACJ/EZZFZVUKQ!:OS8GY<P6
MTBMQ,/F5VQ^[Y4?/DQ_EC+*\\KR2.TDCDLSL<DD]230![[\:/VZ?C!\;)YX]
M1\4W.B:.[-MTG0W-I %)/RL5.^08./G9N@KP L6ZDGZTE% !2ABIX)'TI**
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M?C9+,/%7C/4;JRE)_P");;2?9K0*?X?)CVJV!QE@3ZD\UY+10 I)/4YI***
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MS1()KTPF.UUB!%2]LSU!CEP2!G!VG*GN#7X?_M'?L\^)/V:OB1>>%/$"BXC
M$UCJ<*,L%[ >CIGN/NLO.U@1DC!(!Y;7>_ [XR^(/@+\2]'\8^';J2&YLY5^
MT6RR;4O;?<#);R<'*.!CH<'###*"."HH _H[^%?Q,T/XP_#_ $7QAX<N?M.D
MZK )HR?O1MT>-QV96#*1ZJ:ZNOS"_P""0WQVEBU'Q%\)]3N'>WE0ZQI <C;&
MXPMQ$,G/S QN% P-DIZGG]/: "BBB@ HHHH **** "BBB@ HHHH ^6_^"F7_
M "9OXT_Z[6'_ *60U^'M?N%_P4R_Y,W\:?\ 7:P_]+(:_#V@ KV']C[_ ).C
M^%O_ &,%I_Z,%>/5[#^Q]_R='\+?^Q@M/_1@H _H%HHHH **** "BBB@ HHH
MH **** "BBLOQ1XCL?!_AK5==U286VFZ9:RWES,W1(HT+N?P - 'PA_P53_:
M>F\%>$K;X5^';U8]4UV(R:S)$WSPV?18O;S3G/\ LJ1T:OR<KL?C#\2+_P"+
M_P 4/$WC+4F9KK6+Z2YV,<^5&3B.,>R(%4>RBN.H ***^_\ _@GG^P59?%:V
ML_B;\0;=YO"\<S?V7HKJ FHNC >;*<Y,(8.NS WE>3MR' /DCX7_ +.7Q+^,
MZM)X,\&ZGK=LK;#=QQB.W#9Q@RN53/MFO;M+_P""7'Q\U"Q$\^AZ7ILIS_HU
MSJL)D'/K&67GK][O7[3Z;IEGHUA;V-A:PV-E;QB*&VMXQ''&@& JJ,  #H!5
MF@#\'/'O[!'QT^'D#W%]X#O=0M44NTVCNEZ% R3E8R6' ST]*\ GMY;69X9H
MWAEC8JZ.I5E(X((/0U_3%7B/[07['OPX_:-TYE\1:4;/6$5_L^L:<WE7$3L,
M;CCY9.B\.#T'2@#\!Z*]M_:>_9+\9_LN>)TLM>C34=$NV;^S]=LT;[/<+DX5
MLCY)=HR8R3C/!8<UXE0 4444 ?M3_P $L/\ DTK2_P#L*7O_ *&*^O:^0O\
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M)(A<A?0+)$H'RU]ZT %%%% !1110 4444 %%%% !1110!\!?\%B?^2,>"O\
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M=&+X+E,R0 ]-^.,=MV .GK7E=?HA-#'<1/%*BR1NI5D<9# ]017QA\:_AO\
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MB6CX-HKH/'7@R]\!>)+G2+X;FC^:.8#"RQG[KCZ^G8@CM7/UJ0:WAK_C^?\
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M\1O@=X$\2N^^?4M&M9YR6W?OO+42#/?#AAF@#T&BBB@ HHHH **** "BBB@
MHHHH ^ O^"Q/_)&/!7_8>/\ Z3R5^2U?K3_P6)_Y(QX*_P"P\?\ TGDK\EJ
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MG2O%J^DO^"C'_)Y?Q$_ZZ6?_ *105\VT %?MU_P3$U(7W['OA6$.&-G=7T!
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M +A/_MY7YFU^F7_!&#K\7?\ N$_^WE 'Z:4444 %%%% !1110 4444 %%%%
M!7X:_P#!1?XM-\5/VH?$<<4QDTSP[C1+50^Y08B?-(QQS*9/P ]*_;#QKXBB
M\(>#M=UV8;H=,L9[UP.ZQQLY_P#0:_G UK5;C7=8OM2NW\RZO)WN)7_O.[%F
M/YDT 4J**7K0!]O_ /!+?]F]/BA\4I_'^M6HE\/^$Y$>U60';-J'WH\?]<P
MY]S'ZU^PU>"_L,_"]?A/^S!X(TQX?*OKVT&JWF<;C+<?O,-CNJLB?\ %>]4
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MBHBA548"@8 %.HHK U"BBB@ HHHH *^//VD?^2J7W_7"'_T 5]AU\>?M(_\
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M HHHH **** /EO\ X*9?\F;^-/\ KM8?^ED-?A[7[A?\%,O^3-_&G_7:P_\
M2R&OP]H *]A_8^_Y.C^%O_8P6G_HP5X]7L/['W_)T?PM_P"Q@M/_ $8* /Z!
M:*** "BBB@ HHHH **** "BBB@ K\:O^"LVJ'4/VI8(,Y^PZ!:6X]LR32?\
MM2OV5K\3_P#@J.Q/[76N@]!I]D!_WY% 'R31110!^J'_  1LTE(?!'Q(U/8!
M)<:A:VY?')$<;L!G_MJ?SK]%J^ _^".X'_"E?&A_B_M_GZ?9XO\ Z]??E !1
M110 4444 %?A?_P4@_Y//^(G^]8_^D%O7[H5^%__  4@_P"3S_B)_O6/_I!;
MT ?--%%% '[4_P#!+#_DTK2_^PI>_P#H8KZ]KY"_X)8?\FE:7_V%+W_T,5]>
MT %%%% !1110 4444 %%%% !7PU_P5W\0/IO[.FA:;&0#J/B&$.#W1(9F/\
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M*** "BBOG?\ ;/\ VM])_9;^'YEB:*]\::HCIHVFR*70L,!II0""(UR.X+'
M'\14 WOVCOVM_ '[,NE*_B;4?M.N3PF6ST&R(>[G'S!6*_P1EE*[VP,@@9((
MK\O?CY_P4M^*?Q<N9[3P]>R> = +$1V^DS%;IE^8#?<##9P1D+M&17S%XV\<
MZ_\ $CQ->^(?$^KW6MZS>/OFO+R0N[>@'HH' 48     &*PJ +-_J-WJMW)=
M7MS->7,IR\T\A=V/J2>35:BB@ HHHH *N:3K-_H&H07^F7UQIU] VZ*YM)6B
MDC/JK*00?I5.B@#:\8^,]<^(/B*YU[Q'J4^L:S=+&L][=-NDEV(L:ECW(5%&
M3R<9.36+110 5^U__!+?_DT;1/\ L(WO_HTU^*%?M?\ \$M_^31M$_["-[_Z
M-- 'UO1110 4444 %%%% !1110 4444 ?FY_P67UGRM ^%^D@M^_N;^Z('3]
MVL*C/_?P_K7Y>5^DO_!9EC_;?PK7^$6^HG_QZWK\VJ "OMS_ ()':0-0_::U
M6[:,LMCX<N95?'"LTT"#GL2&;\C7Q'7W[_P1V _X73XU]?[ _P#;B.@#]::*
M** "BBB@ HHHH _*3_@L=_R4[X?_ /8(F_\ 1U?GI7Z%_P#!8[_DIWP__P"P
M1-_Z.K\]* "OTR_X(P=?B[_W"?\ V\K\S:_3+_@C!U^+O_<)_P#;R@#]-***
M* "BBB@ HHHH **** "BBB@#PK]N77_^$;_9+^)EWY@C\S2FL\DX_P!>ZPX_
M'S,?C7X'5^X7_!3&<Q?L;>-5'22:P4_^!D)_I7X>T %;/@S06\4^+]#T5"0^
MHWT%H"O7,DBKQ^=8U>C_ +-L2S_M$?"^)AE7\4:8I'L;J.@#^AFSM8K*T@MX
M$$4,2+&B+T50, #\*FHHH **** "BBB@ K\1?^"F_A2/PS^USXDGA4I'J]K:
M:AMQ@!C$(V(^K1$_4FOVZK\@O^"OVGF#]HOPW=@KMN/#,*X[[EN;C/Z$4 ?"
MU%%% 'ZG?\$:]?-QX+^).B&0D6E_:7@C[#S8Y$)_'R1^0K]&*_+O_@C/,R^(
M/BC%_"UMI['ZAIQ_4U^HE !1110 4444 %%%% !1110 5\6_'R]:]^*^N$G*
MQM'$H] (U'\\U]I5\-_%Z0R_$SQ(3SB\<?EQ_2KAN3(Y"OHO]DBR&SQ)=GJ3
M!$..GWR?Z5\Z5].?LFQ@>'-<?N;I!^2?_7JY;$K<]WHHHK$T"BBB@ HHHH *
M^//VD?\ DJE]_P!<(?\ T 5]AU\>?M(_\E4OO^N$/_H JX[DRV/+Z]R_9/\
M^1LUG_KR'_H:UX;7N7[)_P#R-FL_]>0_]#6KEL2MSZAHHHK$T"BBB@ HHHH
M**** "BBB@ KXI^.MZ;[XK:^Y)(21(ASTVQJO]*^UJ^&/BPQ;XE>)"?^?Z4?
M^/&KAN3(Y.O??V2K0/J_B&ZQS'!%'G_>9C_[)7@5?2/[)"*+#Q(^!N,D )[X
M ?\ QJY;$K<^@J***Q- HHHH **** "BBB@#XK^/-C]@^*VNJ%"K(Z2C'?=&
MI/ZDUP%>I?M)J%^*=X1_%;PD_P#?./Z5Y;6ZV,GN>_?LE7135?$5MVDAAD_[
MY9A_[-7TK7R[^R>Q'C#5QV-CG_R(M?4592W+6P4445)04444 %%%% !1110
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M  &?_"OZ3MB_W1^5&Q?[H_*@#^;'_A$M<_Z U_\ ^ S_ .%'_"):Y_T!K_\
M\!G_ ,*_I.V+_='Y4;%_NC\J /YL?^$2US_H#7__ (#/_A1_PB6N?] :_P#_
M  &?_"OZ3MB_W1^5&Q?[H_*@#^;'_A$M<_Z U_\ ^ S_ .%'_"):Y_T!K_\
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M^//VD?\ DJE]_P!<(?\ T 5]AU\>?M(_\E4OO^N$/_H JX[DRV/+Z]R_9/\
M^1LUG_KR'_H:UX;7N7[)_P#R-FL_]>0_]#6KEL2MSZAHHHK$T"BBB@ HHHH
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M]H/_ %[2?^A"O!:]Z_:S_P"0]H/_ %[2?^A"O!:VCL9O<UO#7_'\_P#US/\
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MZ,%>/5[#^Q]_R='\+?\ L8+3_P!&"@#^@6BBB@ HHHH **** "BBB@ HHHH
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M_P#/,_6O"* %4[6!]*_H3_9B^+MM\<O@7X1\7POFXO+-8[U"<F.ZC_=S _\
M U8C/52I[U_/77VI_P $V/VN+'X$>,[SP;XLO#:^#O$D\;1W<L@6'3[SA!*Y
M) 6-UVJ[GIL0G"AC0!^R5%-1UD171@RL,A@<@BG4 %%%% !7R-_P4T^-]O\
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M/)7Y+4 %?7'_  2V_P"3N=$_[!U[_P"BC7R/7UQ_P2V_Y.YT3_L'7O\ Z*-
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M(<5\<4 %%%>D?LZ?":Y^-_QJ\)>#8(W>'4;U!=M&<&.U4[YWSV(C5L>^!WH
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M RY]0>#Z$$=JN.Y,MCS:O<OV3_\ D;-9_P"O(?\ H:UX;7N7[)__ "-FL_\
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MX^+VN>#M3CD\F"0S:?<OS]JLV8^5+D  D@8;'1E8=J_H7KY@_;L_9"@_:?\
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MX/WRH]^17YM_M*?\%.O'OQ@BN]#\'1-X#\+R[HV:WEWZA=)R/GF&!&",';&
M1R"[ U\8$YZTE 'T1^QS^V!KG[+/CCS&$^J^"]2D4:OHZMR1T\^') $JCU(#
M@;21\K+^XG@WQCHOQ!\+Z;XB\/:C!JNBZC")[:[MVRLBG]00<@@X((((!!%?
MS9U]7_L(_MFZO^SGXQA\/:I]JU7P'K%PJW%A"IDDM)F(43P*.2>@9!]X 8Y
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MK&WLK*WBM+.WC6&&W@0)'&BC"JJC@    #IB@"Q1110 4444 %%%% !1110
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M'D'"J<'@@T ?G!\-/AAXG^+_ (NL_#7A+2+C6-7NC\L,"\(N0"[MT1!D99B
M,U^N'[''_!.GP]\ WM/%?C%X/$_CU&$MNR@_9-,.W&(E/^LDR6/F,./EVJI!
M9OJ'X<_"OPE\(] CT7P?H%EH.FH<^5:QX+G^\['+.?=B375T %%%% !1110
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M#]COX#:K^SA\%;3P7K.H6>J7L-Y/<&XL=WEE9&R!\P!R*]OH **** "BBB@
MHHHH **** "BBB@ K/U_0-.\4Z)?Z/JUG%J&EW\#VUS:SKN26-P596'H02*T
M** /Q\_;,_X)OZW\()KOQ9\.+:\\1^"SNEN+! 9KS3!DDY &9(0/X^64 [^
M7/PZ1@\U_3(1FOF3X_?\$]OA3\=I9]1_LYO"7B*4EVU31%6,2N<<RQ8V/TZC
M#')^:@#\-:*^VOB9_P $F_B[X3FNI?"UWI'C:Q5P(%@G^QW;KQDM'+B-<'/
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MQC6OV9/BWX>F\N_^&GBJ$XSN&D3NO_?2J1V]: /,Z*]-T/\ 9C^+?B,N-/\
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M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !28S2T4 )C%+110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% "8'I
M2T44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4F!Z4M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
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MK>J)R%_4^]>CT45&Y04444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
-44 %%%% !1110!__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>image_006.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_006.jpg
M_]C_X  02D9)1@ ! 0$ > !X  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  V (<# 2(  A$! Q$!_\0
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=SX>@NK>2V>YN5MG?>(58 *2<G'&<9[44447 _]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
