<SEC-DOCUMENT>0001137171-18-000021.txt : 20180322
<SEC-HEADER>0001137171-18-000021.hdr.sgml : 20180322
<ACCEPTANCE-DATETIME>20180322152343
ACCESSION NUMBER:		0001137171-18-000021
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180322
FILED AS OF DATE:		20180322
DATE AS OF CHANGE:		20180322

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:		18706814

	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>eldorado6k03222018.htm
<DESCRIPTION>ELDORADO GOLD CORPORATION - 6-K
<TEXT>
<html>
<head>
     <title>JW 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-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt Times New Roman"><br>
</p>
<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt/14pt Times New Roman">For the month of
March, 2018</p>
<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt Times New Roman">&nbsp;
</p>
<p style="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 12pt/14pt Times New Roman">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;March 22, 2018</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"></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">&nbsp;</p>
<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">99.1&nbsp;&nbsp;&nbsp;
<FONT STYLE="letter-spacing: -0.05pt"><a href="newsrelease.htm">Eldorado Reports Results of Technical Studies</a></FONT></p>

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

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

<p style="font-family: Times New Roman; font-size: 12pt; margin: 0pt">&nbsp;</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>newsrelease.htm
<DESCRIPTION>ELDORADO GOLD REPORTS RESULTS OF TECHNICAL STUDIES
<TEXT>
<HTML>
<HEAD>
     <TITLE>JW Filed by Filing Services Canada Inc. 403-717-3898
</TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 3pt Times New Roman, Times, Serif; margin: 0.05pt 0 0">&nbsp;</P>

<P STYLE="font: 11pt/10pt Calibri, Helvetica, Sans-Serif; margin: 0 0 0 345pt"></P>

<P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0.1pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 14pt calibri; padding-right: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: bold 14pt calibri; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;<IMG SRC="image_001.jpg" ALT="" STYLE="height: 72px; width: 182px"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: bold 14pt calibri; padding-right: 5.4pt; width: 50%"><FONT STYLE="font: 12pt Calibri"><B>NEWS
      RELEASE</B></FONT></TD>
    <TD STYLE="font: bold 14pt calibri; padding-right: 5.4pt; padding-left: 5.4pt; width: 50%"><FONT STYLE="font: 12pt Calibri"><B>&nbsp;</B></FONT></TD>
  </TR>
<TR STYLE="vertical-align: top; font-family: calibri; font-weight: bold">
    <TD STYLE="font: bold 12pt calibri"><FONT STYLE="font: 12pt Calibri"><B>TSX:
      ELD&nbsp;&nbsp;&nbsp;NYSE: EGO</B></FONT></TD>
    <TD STYLE="font: bold 12pt calibri; text-align: right"> March 21, 2018</TD></TR>
</TABLE>


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

<P STYLE="font: bold 14pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">Eldorado Gold Reports Results of Technical
Studies</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">VANCOUVER, BC &ndash; Eldorado Gold Corporation,
(&ldquo;Eldorado&rdquo; or &ldquo;the Company&rdquo;) today announces the release of three technical studies for Kisladag, Lamaque
and Skouries. This release is supplemental to, and should be read in conjunction with, the Company&rsquo;s press release titled
&ldquo;Eldorado Gold Reports 2017 Year-End and Fourth Quarter Financial and Operational Results&rdquo; to be released subsequently
(the &ldquo;Earnings Release&rdquo;). Highlights of the three studies are as follows.<FONT STYLE="font-size: 11pt"><SUP>1</SUP></FONT></P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Kisladag Mine (Turkey) &ndash; Pre-Feasibility
Study</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Mill construction has been identified
as the preferred solution to optimize project value. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The Company will proceed on a staged
basis and commence permitting, detailed engineering and limited early works immediately with permitting expected to be complete
within 12 months. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The Kisladag Technical Study is expected
to be filed on March 29, 2018 and a Feasibility Study is expected to be complete in October 2018, after which a final investment
decision on construction of the mill will be made.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Subject to the final investment decision
and required permitting, major construction of the mill is expected to begin in early 2019 with commissioning beginning in late
2020. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Estimated project capital of $490 million
(including $378 million for the mill, $112 million for waste stripping, and $55 million in contingency), generates an estimated
after-tax project NPV of $434 million at a 5% discount rate, an IRR of 22.1%, and a payback period of 3.7 years.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Proven and Probable reserves of 3.1 million
ounces at 0.82 g/t Au support a nine year mine life with average annual production of 270,000 ounces of gold at an all in sustaining
cost (&ldquo;AISC&rdquo;) of $778 per ounce.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">New pit design optimizes cash flow and
return on invested capital, while additional Measured and Indicated resources of 5.9 million ounces at 0.53 g/t Au provide further
potential upside under a larger pit scenario.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Lamaque Project (Canada) &ndash;
Pre-Feasibility Study</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Focus on the development of the Triangle
deposit (one of the three currently identified deposits at Lamaque) and refurbishment of the previously producing Sigma mill.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Maiden reserve at Triangle of approximately
893,000 ounces of gold at an average grade of </FONT><BR>
<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">7.3 g/t supports an initial seven year mine plan to commence production
with an average annual production of 117,000 ounces of gold at AISC of $717 per ounce</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The study shows steady ramp up to an
annual production of 135,000 ounces, which the company expects to sustain with further Resource to Reserve conversion.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Maiden reserve reflects a resource conversion
of 84% from Measured and Indicated Resources defined by drilling at C1, C2 and C4 zones on approximately 25 meter centers<FONT STYLE="color: #1F497D">.</FONT>
</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Additional inferred resource of 1.3 million
ounces of gold at 7.29 g/t Au, proximal to the existing reserve, has not been included in the Pre-Feasibility Study and will be
targeted with near term conversion drilling to extend mine life.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Estimated capital cost of $122 million
plus $57 million of pre-commercial production costs, offset by $80 million in pre commercial gold sales, for a net start-up capital
of $99 million.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Estimated after-tax project NPV of $205
million at a 5% discount rate, an IRR of 34.3%, and a payback period of 3.7 years. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The Lamaque Technical Report for the
Triangle deposit is expected to be filed on March 29, 2018, with first production expected at the start of 2019.</FONT></TD></TR></TABLE> <P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><SUP>1</SUP>All economic analysis modeled on a constant gold price
of $1,300/oz</P>

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

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Skouries Project (Greece) &ndash;
Updated Technical Report</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Updated Proven and Probable reserves
of 3.8 million ounces of gold at 0.74 g/t Au and 1.7 billion pounds of copper at 0.49% Cu, supporting a 23 year mine life at an
average annual production of 140,000 ounces of gold and 67 million pounds of copper with production from both open-pit and underground.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Estimated capital cost of $689.2 million
(including $87 million in contingency) to fully develop both the open pit and Phase I of the Skouries underground, generating an
estimated after-tax project NPV $925 million at a 5% discount rate, an IRR of 21.2%, and a payback period of 3.4 years. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The Skouries Updated Technical Report
is expected to be filed on March 29, 2018. The updated design reflects some of the best available control technology, a dramatically
reduced environmental footprint and utilizes filtered dry stack tailings.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&ldquo;Combined with steady gold production
from our existing operations at Efemcukuru, Olympias, and the Kisladag leach pad inventory, the Company has a solid production
platform from a diverse asset base and offers a strong near-term, growth profile. By moving the newly acquired Lamaque Project
through development and into production, along with the construction of a mill at Kisladag, we expect to restore Eldorado&rsquo;s
annual gold production to over 600,000 ounces. Both Turkey and Canada offer clear visibility on development and permitting timelines,&rdquo;
said George Burns, Eldorado&rsquo;s President and Chief Executive Officer. &ldquo;We have no immediate needs for financing and
will continue to prioritize our project development opportunities and prudently deploy our capital.&rdquo;</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Paul Skayman, Eldorado&rsquo;s Chief Operating
Officer said, &ldquo;We are confident that we can deliver near term growth on schedule and on budget. Underground development,
construction and permitting at Lamaque&rsquo;s Triangle deposit is well advanced and we are now expecting mill start up by the
start of 2019. Major construction and the bulk of capital deployment for the Kisladag mill will begin in early 2019, subject to
the Company making a positive final investment decision and after the permitting process and Feasibility Study are complete. The
Kisladag mill is expected to enter commissioning before the end of 2020.&rdquo;</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B><I>K&#305;sladag Mine, Turkey</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">In the third quarter of 2017, the Company
announced that recent recoveries observed at Kisladag had been lower than the historic average. A significant amount of laboratory
test work was undertaken to investigate the cause of the issue and to outline a path forward. Testing undertaken since the third
quarter of 2017 included column tests, intermittent bottles rolls, large-scale column tests, high pressure grinding roll (HPGR)
test work, as well as mill optimization studies and required engineering. Based on the results of this extensive test work, the
recently completed technical study and the improved economics when compared to continuing with heap leaching, the Company will
proceed with the mill option on a staged basis.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The new pit design results in a nine year
mine life with an estimated after-tax net present value of $434 million at a 5% discount rate and an internal rate of return of
22.1%. Compared to heap leaching the design provides for similar recovered ounces and preserves the same flexibility to consider
a larger pit in the future with expected additional economic upside at higher gold prices. Accordingly, it is expected that permitting
will also provide for the current mine life and preserve the ability to expand to a larger pit if warranted.</P>

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

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Pre-Feasibility Study reflects a standalone
milling operation and does not include any revenue associated with existing gold inventories. As the margin per ounce under a milling
scenario is considerably better than heap leaching, the Company has decided to defer ore mining until the mill feasibility is complete
and a final investment decision has been made. The Kisladag team will continue stripping waste from the pit in preparation for
ore mining to recommence and will continue to extract gold from existing leach pad inventories. It is expected that Kisladag will
produce 120,000-130,000 ounces of gold in 2018 at a cash cost of $600-$700 per ounce, including roughly $150 per ounce of non-cash
inventory changes. Production for 2019 is expected to be 40,000-50,000 ounces at a cash cost of $1,100-1,200 per ounce, including
roughly $650 per ounce of non-cash inventory changes. Methods to improve overall gold recovery from ounces already on the leach
pad and enhance production beyond current inventory will also be evaluated.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company expects to file the Kisladag Technical
Report compliant with National Instrument 43-101 &ndash; Standards of Disclosure for Mineral Projects of the Canadian Securities
Administrators (&ldquo;NI 43-101&rdquo;) on March 29, 2018 and expects to complete a Feasibility Study in October 2018.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Supplementary information on Kisladag:</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Though not included in the study, the
contained value in the leach pad (ounces in inventory) will continue to be extracted. Efforts to extract ounces of gold in excess
of the current inventory will be pursued through: </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: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Sonic drilling on the leach pad to better
understand how the gold is distributed in the pad.</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: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Courier New, Courier, Monospace">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Testing additional methods and technologies
to potentially recover these ounces.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The mill will make use of the existing
crushing circuit. The flow sheet for the mill will include grinding and classification, leach, carbon in pulp (CIP) followed by
cyanide detoxification and tailings thickening for placement in a lined dry-stack storage facility. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Permitting will commence immediately
and is anticipated to take approximately 12 months. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The plan is to move forward with obtaining
vendor drawings of long lead equipment while permitting is ongoing. Second hand equipment for the long lead items will also be
considered. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The Company has over a decade of successful
construction success at Kisladag and in Turkey, including multiple plant expansions and greenfield construction projects. This
historical success increases the reliability of assumed construction input costs including worker productivity, civil works, concrete
costs and procurement.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt"><B><I>Lamaque Project, Canada</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The focus at Lamaque since the acquisition
in July 2017 has been on infill drilling the upper portion of the Triangle deposit (one of three currently identified deposits
on the property) to quantify and declare a maiden reserve. In 2018, the Company plans 9,000 metres of underground resource conversion
drilling at Triangle targeting inferred resources in the C2 zone, along with 34,000 metres of surface exploration drilling that
will test deeper &ldquo;C&rdquo; zones at Triangle and numerous other targets on the property. Exploration success would offer
potentially significant upside, given the Sigma mill nameplate capacity of</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">2,200 tpd and the opportunity for low cost
plant expansion to 5,000 tpd with the re-addition of a SAG mill (which was part of the original plant design and sold by a previous
owner).</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Lamaque Pre-Feasibility Study of the Triangle
deposit and the Sigma mill refurbishment, compliant with NI 43-101 is expected to be filed on March 29, 2018.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Additional items of note in the report include:</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The Company received the Certificate
of Authorization, closure plan and the mining lease for the Triangle deposit in the first quarter 2018. The only outstanding permit
is for ore processing at the Sigma mill, which is expected to be received during the third quarter 2018. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The Company is evaluating an option to
build an underground ramp to haul ore from Triangle to the Sigma mill, while passing through the Plug 4 and Parallel ore zones.
The underground ramp is expected to reduce ore transport costs, improve access, and could serve as an excellent exploration drill
platform for the Plug 4 and Parallel deposits as well as new targets along its route.</FONT></TD></TR></TABLE>

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

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt"><B><I>Skouries Project, Greece</I></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">The updated technical report outlines a redesigned
project, which optimizes project economics and incorporates some of the best available environmental and operational standards
and technologies.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Additional items of note in the updated report
include:</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Approximately two years remaining to
complete construction and commissioning following receipt of all necessary permits and a Company decision to proceed (see discussion
of ongoing arbitration in the Earnings Release). </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Capital costs in the revised design reflect
earlier development of the underground, increased water management infrastructure, changes in foreign exchange and an increased
estimate of the cost for the tailings filter plant.</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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">Dry stacked tailings handling would be
expected to decrease the project footprint by approximately 180 hectares or 40%, reduce overall operating risk and improve economics
by increasing the amount of material that can be mined in the underground during the early years of operation. </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: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif">The project offers a positive benefit
to the Greek economy during the 20 plus years of operations, including the creation of approximately 1,000 direct jobs in the construction
phase, an average of 700 direct jobs per year and over $750 million in direct taxes and royalties over the life of the mine (at
current metal prices). </FONT></TD></TR></TABLE>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">An updated technical study on Skouries, compliant
with NI 43-101, is expected to be filed on March 29, 2018.</P>

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

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Appendix: Project Economics and Key Parameters</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif"><B>Kisladag Mill Pre-Feasibility Economics and Key Parameters</B></FONT></TD></TR>
<TR>
    <TD STYLE="width: 37%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Milling Capacity (Mtpa)</FONT></TD>
    <TD STYLE="width: 63%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">13 Mtpa</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Mine Life (years)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">9 years</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Annual Gold Production (oz)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">270,000 oz </FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Cash Costs ($/oz)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$666/oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average AISC ($/oz)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$778/oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Recovery Rate (%)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">80.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Gold Grade (g/t)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">0.81 g/t Au</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Strip Ratio (w:o)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">1.3</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Initial Capital (US$ millions)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$490M ($378M Construction, $112M Pre-Production Waste &amp; Ore)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Sustaining Capital (US$ millions)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$213 M (including $103M Capitalized Waste)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Gold Price ($/oz)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$1,300/oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">NPV-5% (after tax, US$ millions)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$434M</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">IRR (after tax)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">22.1%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Payback Period (years)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">3.7 years</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 9pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="background-color: #D9D9D9">
    <TD COLSPAN="2" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif"><B>Lamaque Pre-Feasibility Economics and Key Parameters</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Milling Capacity (Ktpa)</FONT></TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">800 Ktpa capacity, 600 Ktpa processed </FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Initial Mine Life (years)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">7 years</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Annual Gold Production (oz)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">117,000 oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Peak Gold Production (oz)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">135,000 oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Cash Costs ($/oz)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$516/oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average AISC ($/oz)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$717/oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Recovery Rate (%)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">94.5%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Gold Grade (g/t)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">7.3 g/t Au</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Estimated Capital Expenditure (US$ millions)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">&nbsp;&nbsp;Initial Capital Costs (to commercial production)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$122M</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">&nbsp;&nbsp;Pre-commercial Production Costs </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$57M</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">&nbsp;&nbsp;Proceeds from Pre-Commercial Gold Sales</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">($80M)</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">&nbsp;&nbsp;Sustaining Capital</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$162M</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Gold Price ($/oz)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$1,300/oz</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">NPV-5% (after tax, US$ millions)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$205</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">IRR (after tax)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">34.3%</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Payback Period (years)</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">3.7 years</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 9pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #D9D9D9">
    <TD NOWRAP COLSPAN="2" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif"><B>Skouries Updated Technical Report Key Parameters</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 50%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Tonnes Milled (Mt)</FONT></TD>
    <TD NOWRAP STYLE="width: 50%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">156.7 Mt</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Mine Life (years)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">23 years</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Annual Gold Production (oz)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">140,000 oz</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Annual Copper Production (Mlbs)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">66.9 Mlbs</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average Total Cash Cost ($/oz)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$(70)/oz</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Average AISC ($/oz)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$215/oz </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Gold Recovery</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">82.5%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Copper Recovery</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">88.2%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Au Grade (g/t)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">0.74 g/t Au</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Cu Grade (%)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">0.49% Cu</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Total Development Capex ($M)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$689.2 M </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Total Sustaining Capex ($M)</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$758.0 M </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Gold Price ($/oz)</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$1,300/oz</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Copper Price Assumption Used in Financial Analysis ($/lb)</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$2.75</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">NPV-5% (after tax, millions)</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">$925 M</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">IRR (after tax)</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">21.2%</FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">Payback Period (years)</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font: 9pt Calibri, Helvetica, Sans-Serif">3.4 years</FONT></TD></TR>
</TABLE>

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

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<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt"><B>About Eldorado Gold</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 15pt">Eldorado&nbsp;is a leading intermediate gold producer with
mining, development and exploration operations in&nbsp;Turkey,&nbsp;Greece,&nbsp;Romania,&nbsp;Serbia,&nbsp;Canada&nbsp;and Brazil.&nbsp;
The Company's success to date is based on a highly skilled and dedicated workforce, safe and responsible operations, a portfolio
of high-quality assets, and long-term partnerships with the communities where it operates.&nbsp;&nbsp;Eldorado's common shares
trade on the Toronto Stock Exchange&nbsp;(TSX: ELD) and the&nbsp;New York Stock Exchange&nbsp;(NYSE: EGO).</P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0"><B><I>Cautionary Note about Forward-looking Statements and Information</I></B></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Certain of the statements made and
information provided in this press release are forward-looking statements or information within the meaning of the United States
Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Often, these forward-looking statements
and forward-looking information can be identified by the use of words such as &quot;plans&quot;, &quot;expects&quot;, &quot;is
expected&quot;, &quot;budget&quot;, &ldquo;continue&rdquo;, &ldquo;projected&rdquo;, &quot;scheduled&quot;, &quot;estimates&quot;,
&quot;forecasts&quot;, &quot;intends&quot;, &quot;anticipates&quot;, or &quot;believes&quot; or the negatives thereof or variations
of such words and phrases or statements that certain actions, events or results &quot;may&quot;, &quot;could&quot;, &quot;would&quot;,
&quot;might&quot; or &quot;will&quot; be taken, occur or be achieved.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Forward-looking statements or information
contained in this release include, but are not limited to, statements or information with respect to: our guidance and outlook,
including expected production, projected cash cost, planned capital and exploration expenditures for 2018; our expectation as to
our future financial and operating performance, including future cash flow, estimated cash costs, expected metallurgical recoveries,
gold price outlook; and our strategy, plans and goals, including our proposed exploration, development, construction, permitting
and operating plans and priorities, related timelines and schedules and results of litigation and arbitration proceedings.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Forward-looking statements and forward-looking
information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements or information. </I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>We have made certain assumptions about
the forward-looking statements and information, including assumptions about the geopolitical, economic, permitting and legal climate
that we operate in; the future price of gold and other commodities; exchange rates; anticipated costs and expenses; production,
mineral reserves and resources and metallurgical recoveries, the impact of acquisitions, dispositions, suspensions or delays on
our business and the ability to achieve our goals. </I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Even though our management believes
that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance
that the forward-looking statement or information will prove to be accurate. Many assumptions may be difficult to predict and are
beyond our control. </I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Furthermore, should one or more of
the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include,
among others, the following: geopolitical and economic climate (global and local), risks related to mineral tenure and permits;
gold and other commodity price volatility; recoveries of gold and other metals; results of test work; revised guidance; risks regarding
potential and pending litigation and arbitration proceedings relating to the Company&rsquo;s business, properties and operations;
expected impact on reserves and the carrying value; the updating of the reserve and resource models and life of mine plans; mining
operational and development risk; foreign country operational risks; risks of sovereign investment; regulatory risks and liabilities
including, regulatory environment and restrictions, and environmental regulatory restrictions and liability; discrepancies between
actual and estimated production, mineral reserves and resources and metallurgical testing and recoveries; risks related to the
impact of the sale of our Chinese assets and the acquisition and integration of Integra on the Company&rsquo;s operations;; additional
funding requirements; currency fluctuations; community and non-governmental organization actions; speculative nature of gold exploration;
dilution; share price volatility; competition; loss of key employees; and defective title to mineral claims or properties, as well
as those risk factors discussed in the sections titled &ldquo;Forward-Looking Statements&rdquo; and &quot;Risk factors in our business&quot;
in the Company's most recent Annual Information Form &amp; Form 40-F. The reader is directed to carefully review the detailed risk
discussion in our most recent Annual Information Form filed on SEDAR under our Company name, which discussion is incorporated by
reference in this release, for a fuller understanding of the risks and uncertainties that affect the Company&rsquo;s business and
operations.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Forward-looking statements and information
is designed to help you understand management&rsquo;s current views of our near and longer term prospects, and it may not be appropriate
for other purposes.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>There can be no assurance that forward-looking
statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained
herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions
change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the
securities regulatory authorities in Canada and the U.S.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Financial Information and condensed
statements contained herein or attached hereto may not be suitable for readers that are unfamiliar with the Company and is not
a substitute for reading the Company&rsquo;s financial statements and related MD&amp;A available on our website and on SEDAR under
our Company name. The reader is directed to carefully review such document for a full understanding of the financial information
summarized herein.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>Except as otherwise noted, scientific
and technical information contained in this press release was reviewed and approved by Paul Skayman, FAusIMM, Chief Operating Officer
for Eldorado Gold Corporation, and a &quot;qualified person&quot; under NI 43-101I.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0"><I>Mineral resources which are not mineral reserves do not have
demonstrated economic viability. With respect to &ldquo;indicated mineral resource&rdquo; and &ldquo;inferred mineral resource&rdquo;,
there is a great amount of uncertainty as to their existence and a great uncertainty as to their economic and</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0"><I>legal feasibility. It cannot be assumed that all or any part
of a &ldquo;measured mineral resource&rdquo;, &ldquo;indicated mineral resource&rdquo; or &ldquo;inferred mineral resource&rdquo;
will ever be upgraded to a higher category.</I></P>

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

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<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B><I>Cautionary Note to US Investors
Concerning Estimates of Measured, Indicated and Inferred Resources</I></B></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>The terms &ldquo;mineral resource&rdquo;,
&ldquo;measured mineral resource&rdquo;, &ldquo;indicated mineral resource&rdquo;, &ldquo;inferred mineral resource&rdquo; used
herein are Canadian mining terms used in accordance with NI 43-101 under the guidelines set out in the Canadian Institute of Mining
and Metallurgy and Petroleum (the &ldquo;CIM&rdquo;) Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council,
as may be amended from time to time. These definitions differ from the definitions in the United States Securities &amp; Exchange
Commission (&ldquo;SEC&rdquo;) Industry Guide 7. In the United States, a mineral reserve is defined as a part of a mineral deposit
which could be economically and legally extracted or produced at the time the mineral reserve determination is made.</I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><I>While the terms &ldquo;mineral resource&rdquo;,
&ldquo;measured mineral resource,&rdquo; &ldquo;indicated mineral resource&rdquo;, and &ldquo;inferred mineral resource&rdquo;
are recognized and required by Canadian regulations, they are not defined terms under standards in the United States and normally
are not permitted to be used in reports and registration statements filed with the SEC. As such, information contained herein concerning
descriptions of mineralization and resources under Canadian standards may not be comparable to similar information made public
by U.S. companies in SEC filings. </I></P>

<P STYLE="font: 8pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>Accordingly, information herein containing
descriptions of our mineral deposits may not be comparable to similar information made public by US companies subject to the reporting
and disclosure requirements under US federal securities laws and the rules and regulations thereunder.</I></P>

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

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

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>Contacts</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify"><B>Investor Relations</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Peter Lekich, Manager Investor Relations</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">604.687.4018
or 1.888.353.8166</FONT> <FONT STYLE="font: 12pt Calibri, Helvetica, Sans-Serif">peter.lekich@eldoradogold.com </FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify"><B>Media</B></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">Louise Burgess, Director Communications &amp;
Government Relations</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify">604.687.4018 or 1.888.353.8166 louiseb@eldoradogold.com</P>

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

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