<SEC-DOCUMENT>0001654954-21-000487.txt : 20210115
<SEC-HEADER>0001654954-21-000487.hdr.sgml : 20210115
<ACCEPTANCE-DATETIME>20210114183210
ACCESSION NUMBER:		0001654954-21-000487
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210114
FILED AS OF DATE:		20210115
DATE AS OF CHANGE:		20210114

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:		21530050

	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>ego_6k.htm
<DESCRIPTION>6-K
<TEXT>
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<title>JA Filed by Filing Services Canada Inc. 403-717-3898</title>
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<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">FORM 6-K</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Report of Foreign Private
Issuer</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Pursuant to Rule 13a-16 or 15d-16<br>
of the Securities Exchange Act of 1934</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">For the month of
January, 2021<br></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">Commission File
Number &#xA0;<font style="font-weight: bold">001-31522</font></font></div>
<div>
<table cellpadding="0" cellspacing="0" style="font-family: inherit; font-size: inherit;width: 100%;">
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<td style="width: 640px">
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Eldorado Gold Corporation<br></font>
(Translation of registrant's name into English)</font></div>
</td>
</tr><tr>
<td style="width: 640px">
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold"><br>
1188-550 Burrard Street</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Bentall 5</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Vancouver, B.C.</font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Canada &#xA0;V6C 2B5<br></font> (Address of
principal executive offices)<br></font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-size: 13px; font-family: Times New Roman">Indicate by check
mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.</font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">Form
20-F&#xA0;&#xA0;&#xA0; [ <font style="font-weight: bold">&#xA0;&#xA0;</font>] &#xA0;&#xA0;&#xA0; Form
40-F&#xA0;&#xA0;&#xA0; [<font style="font-weight: bold">X</font>]</font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman;">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): ____</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-left: 48px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman"><font style="font-weight: bold">Note:</font> Regulation&#xA0;S-T
Rule&#xA0;101(b)(1) only permits the submission in paper of a
Form&#xA0;6-K if submitted solely to provide an attached annual
report to security holders.<br></font></font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman;">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): ____</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-left: 48px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-family: Times New Roman"><font style="font-weight: bold">Note:</font> Regulation&#xA0;S-T
Rule&#xA0;101(b)(7) only permits the submission in paper of a
Form&#xA0;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
"home country"), 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&#xA0;6-K submission or other Commission filing on
EDGAR.</font></font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px"><font style="font-size: 11px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-size: 11px"><font style="font-size: 13px">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.</font></font></font></font></font></div>
<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">Yes &#xA0;[
&#xA0;&#xA0;&#xA0;] &#xA0;No [ <font style="font-weight: bold">X</font> ]</font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">If "Yes" is marked,
indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________</font></div>
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<div style="text-align: center; line-height: 1.45; margin-left: auto; margin-right: auto; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">Signatures</font></font></div>
<div style="text-align: left; line-height: 1.45; margin-left: 0px; margin-right: 0px; text-indent: 0px; padding-top: 6px; padding-bottom: 6px"><font style="font-size: 13px; font-family: Times New Roman">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.</font></div>
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<div><font style="font-size: 13px; font-family: Times New Roman"><font style="font-weight: bold">ELDORADO GOLD CORPORATION</font></font></div>
</td>
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<td style="vertical-align: top; width: 50%; border-bottom: medium solid rgb(255, 255, 255);">
<font style="font-size: 13px; font-family: Times New Roman">Date:
January 14, 2021</font></td>
<td style="vertical-align: top; width: 3%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">By:&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 35%; border-bottom: 2px solid black; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">/s/ <font style="font-size: 13px; font-family: Times New Roman">Karen Aram</font>
&#xA0;</font></div>
</td>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
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</td>
<td style="vertical-align: bottom; width: 35%; white-space: nowrap;">
<font style="font-size: 13px; font-family: Times New Roman">Karen
Aram, Corporate Secretary</font></td>
<td style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<font style="font-size: 13px; font-family: Times New Roman"><br></font></div>
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</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;<br></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-size: 13px; font-family: Times New Roman">Exhibits</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;"><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font><br>
</div>
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<table cellpadding="0" cellspacing="0" style="text-align: left; width: 100%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;">
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold"><font style="font-weight: bold"><font style="font-family: Times New Roman; font-weight: bold;">Exhibit
No.<br></font></font></font></font></div>
</td>
<td style="width: 1%;">
<div><font style="font-size: 13px"><font style="font-weight: bold;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold"><font style="font-weight: bold"><font style="font-family: Times New Roman; font-weight: bold;">Description</font></font></font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: middle; width: 12%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="ego_ex991.htm"><font style="font-size: 13px"><font style="vertical-align: bottom;"><font style="vertical-align: bottom;"><font style="vertical-align: bottom;">99.1</font></font></font></font></a></div>
</td>
<td style="width: 1%;">
<div><font style="font-size: 13px"><font style="vertical-align: bottom;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">Eldorado
Provides 2021 Guidance and Five-Year Outlook; Announces Management
Appointments</font></div>
</td>
</tr></table>
</div>
&#xA0;
<div><br></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ego_ex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
99.1</font></div>
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<div><font>&#xA0;</font></div>
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NEWS RELEASE</font></div>
</td>
<td style="vertical-align: bottom; width: 31%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
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<td style="vertical-align: bottom; width: 69%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; color: #000000; font-size: 13px; font-family: Times New Roman">
TSX: ELD NYSE: EGO</font></div>
</td>
<td style="vertical-align: bottom; width: 31%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="color: #000000; font-weight: bold; font-size: 13px; font-family: Times New Roman">
January 14, 2021</font></div>
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</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
Eldorado Provides 2021 Guidance and Five-Year Outlook;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 16px">
Announces Management Appointments</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">VANCOUVER,
BC &#x2013; <font style="font-weight: bold">Eldorado Gold
Corporation</font>, (&#x201C;Eldorado&#x201D; or the
&#x201C;Company&#x201D;) today provided detailed 2021 production and
cost guidance and an updated five-year production
outlook.</font></div>
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Highlights</font></div>
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<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Kisladag
high-pressure grinding roll (HPGR) commissioning in the third
quarter of 2021 and pre-stripping investments position the mine for
sustained free cash flow over a 15-year mine life.</font></div>
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<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Increased five-year
production profile at Lamaque driven by increasing mining rates and
efficiencies from completion of Triangle decline in
2021.</font></div>
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<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Column flotation at
Efemcukuru improves concentrate grade and enhances low costs and
operational consistency to drive sustained cash flow.</font></div>
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<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Throughput
expansion and efficiency improvements at Olympias lead to new
growth phase over the five-year plan.</font></div>
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<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Strong liquidity to
drive further debt reduction in 2021.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">The
Company&#x2019;s 2021 gold production is forecast to be between
430,000 and 460,000 ounces at all-in sustaining costs (AISC) of
$920 to $1,150 per ounce. Average 2021 cash operating costs are
forecast in the range of $590 to $640 per ounce of gold sold.
Quarter-to-quarter gold production in 2021 is expected to be
relatively consistent with higher anticipated gold grade at
Kisladag in the first half of the year expected to be offset by
lower head grade at Lamaque. In the second half of 2021, gold
production at Lamaque is expected to increase on higher grade while
production at Kisladag will be temporarily affected by the expected
third-quarter commissioning of the HPGR circuit.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;Eldorado&#x2019;s
strong five-year production profile provides the growth and
flexibility to reinvest in our portfolio of mines and projects
while also continuing to deleverage our balance sheet,&#x201D; said
George Burns, Eldorado Gold&#x2019;s President and Chief Executive
Officer. &#x201C;In Greece, we continue to work productively with
the government on discussions and permitting to re-start
construction at Skouries; the completion of which will drive new
production growth beyond our current five-year
plan.&#x201D;</font></div>
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Five-Year Gold Production Outlook</font></div>
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Production (oz)</font></div>
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2021E</font></div>
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2022E</font></div>
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2023E</font></div>
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2024E</font></div>
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2025E</font></div>
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Kisladag</font></div>
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140,000 - 150,000</font></div>
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140,000 -150,000</font></div>
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165,000 -175,000</font></div>
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185,000 - 195,000</font></div>
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160,000 - 170,000</font></div>
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Lamaque</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
140,000 - 150,000</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
165,000 - 175,000</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
180,000 - 190,000</font></div>
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160,000 - 170,000</font></div>
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185,000 - 195,000</font></div>
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Efemcukuru</font><font style="font-size: 70%; vertical-align: top; color: #000000">*</font></font></div>
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90,000 - 95,000</font></div>
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80,000 - 85,000</font></div>
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80,000 - 85,000</font></div>
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75,000 - 80,000</font></div>
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75,000 - 80,000</font></div>
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Olympias</font></div>
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55,000 - 65,000</font></div>
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55,000 - 60,000</font></div>
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65,000 - 70,000</font></div>
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80,000 - 90,000</font></div>
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90,000 - 100.000</font></div>
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Total</font></div>
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430,000 - 460,000</font></div>
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430,000 - 460,000</font></div>
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480,000 - 510,000</font></div>
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500,000 - 530,000</font></div>
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510,000 - 540,000</font></div>
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*</font> Forecast production at Efemcukuru has been adjusted for
reduced payable ounces following a change in structure of
concentrate sales contracts. Lower payability is offset by a
decrease in forecast production costs, due to the elimination of
treatment charges and other deductions.</font></div>
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2021 Cost and Capital Expenditure Guidance</font></div>
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2021E</font></div>
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2021E</font></div>
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Consolidated Costs</font></div>
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Olympias</font></div>
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Cash Operating Cost &#x2013; C1 ($/oz sold)</font></div>
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590-640</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Cash Operating Cost &#x2013; C1 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
775-825</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Total Operating Cost &#x2013; C2 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
680-730</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Total Operating Cost &#x2013; C2 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
900-950</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
AISC ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
920 -1,150</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Sustaining Capex ($ millions)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
38 - 43</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Kisladag</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Corporate ($ millions)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Cash Operating Cost &#x2013; C1 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
590-640</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
General and Administrative</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
32</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Total Operating Cost &#x2013; C2 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
700-750</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
Exploration</font><font style="font-size: 70%; vertical-align: top; color: #000000">1</font></font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
25 - 30</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Sustaining Capex ($ millions)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
18 - 23</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Growth Capital ($ millions)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Lamaque</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Kisladag</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
90 - 95</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Cash Operating Cost &#x2013; C1 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
560-610</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Olympias</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
10 - 15</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Total Operating Cost &#x2013; C2 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
580-630</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Lamaque</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
35 - 40</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Sustaining Capex ($ millions)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
48-53</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Other Project Spending ($ millions)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Efemcukuru</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Skouries</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
25 - 30</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Cash Operating Cost &#x2013; C1 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
550-600</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Stratoni</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
10 &#x2013; 15</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Total Operating Cost &#x2013; C2 ($/oz sold)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
680-730</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Perama Hill</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
5 - 10</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Sustaining Capex ($ millions)</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
18 - 23</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Tocantinzinho</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
3 &#x2013; 5</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 39%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 4%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 35%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Certej</font></div>
</td>
<td style="vertical-align: middle; width: 12%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
3 &#x2013; 5</font></div>
</td>
</tr></table>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 70%; vertical-align: top; color: #000000">1</font> 55%
expensed and 45% capitalized.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Kisladag</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
2021, Kisladag is expected to mine and place on leach over 11
million tonnes of ore at an average grade of 0.69 grams per tonne.
Subsequent to the commissioning of the HPGR circuit in the third
quarter, recoveries are expected to improve substantially in the
second half of 2021 with average recoveries at approximately 50%
for the year.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Forecast
2021 sustaining capital of $18 to $23 million is primarily for work
related to the cover liner, ADR columns and equipment overhauls.
Growth capital of $90 to $95 million is expected to consist
primarily of the HPGR project, waste stripping and construction of
the North Leach Pad. A portion of the expenditure on the HPGR
project has shifted from 2020 to 2021; however, the HPGR circuit is
expected to be fully operational on schedule by the end of the
third quarter. Phase 1 of the North Leach Pad facility is expected
to be ready for stacking by the end of the third
quarter.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Efemcukuru</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
2021, Efemcukuru is expected to mine and process almost 520,000
tonnes of ore at an average gold grade of 6.6 grams per tonne. Cash
operating costs per ounce in 2021 are expected to increase due to
fewer payable gold ounces sold, partially offset by the weakening
of the Turkish Lira. Forecast total cash costs and AISC have
increased due primarily to higher gold royalty rates consistent
with higher gold prices. Expected sustaining capital expenditures
for 2021 include drilling related to KPR resource conversion as
well as 2020 carry-over capital expenditures.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Lamaque</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
2021, Lamaque is expected to mine and process over 750,000 tonnes
of ore at an average gold grade of 6.6 grams per tonne. 2021 cash
operating costs per ounce of $560 to $610 reflect mining at
increasing depth, which is expected to be partially offset by
increased mining rates.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Sustaining
capital expenditures for 2021 are forecast to be approximately $48
to $53 million, to be allocated primarily on capitalized
underground mine development and infrastructure as vertical access
to the Triangle deposit continues for infill drilling and future
production. Growth capital projects in 2021 include continued work
on the Triangle decline as well as additional mining equipment
purchases and modest mill upgrades toward achieving 2,200
tonne-per-day capacity. Engineering studies and initial preparation
for tailings placement are also included. This work will continue
over the outlook period.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">The
five-year outlook for Lamaque reflects an increase in mining rates
to 2,500 tonnes per day, achieved primarily through accelerating
underground development. The Company continues to evaluate
expansion of the Sigma mill to accommodate higher mining rates at
Triangle as well as potential mill feed from satellite deposits.
However, until such time as a mill investment decision has been
made and construction completed, any excess production above 2,200
tonnes per day is assumed to be toll milled at a neighboring
facility.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Olympias</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
2021, Olympias is expected to mine over 443,000 tonnes of ore at an
average grade of 7.3 grams per tonne of gold, 104 grams per tonne
of silver, 3% lead and 4% zinc. Forecast 2021 ore processed
includes processing of old tailings. Payable production is expected
to be 55,000 to 65,000 ounces of gold, 1.1 million to 1.2 million
ounces of silver, 11,000 to 11,500 tonnes of lead metal and 11,500
to 12,000 tonnes of zinc metal. Improving production rates and
efficiency improvements are beginning to drive a moderating cash
operating cost profile. Cash operating costs, net of by-products,
are expected to decrease to $775 to $825 per ounce of gold
sold.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Forecast
2021 sustaining capital expenditures of $38 to $43 million include
underground mine development and the second phase of tailings
management facility construction. Growth capital expenditures at
Olympias of $10 to $15 million include process plant expansion and
contractor development to support planned ramp-up to 650k tonnes
per year.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
2021 Commodity and Currency Price Assumptions</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; width: 50%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;">
<tr style="background-color: #d9d9d9">
<td colspan="2" style="vertical-align: bottom; width: 100%; border-left: 0.5pt solid #000000; border-right: 0.5pt solid #000000; border-top: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 71%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Gold
($/oz)</font></div>
</td>
<td style="vertical-align: middle; width: 29%; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
$1,750</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 71%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Silver
($/oz)</font></div>
</td>
<td style="vertical-align: middle; width: 29%; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
$25</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 71%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Lead
($/mt)</font></div>
</td>
<td style="vertical-align: middle; width: 29%; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
$1,950</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 71%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Zinc
($/mt)</font></div>
</td>
<td style="vertical-align: middle; width: 29%; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
$2,400</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 71%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">C$/US$</font></div>
</td>
<td style="vertical-align: middle; width: 29%; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
1.3:1&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 71%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">EURO$/US$</font></div>
</td>
<td style="vertical-align: middle; width: 29%; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;1:1.20</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 71%; border-left: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">US$/TRY</font></div>
</td>
<td style="vertical-align: middle; width: 29%; border-right: 0.5pt solid #000000; border-bottom: 2px solid #000000">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
7.7:1&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Strengthening our Team</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Eldorado
also announced today the appointments of Brock Gill and Simon Hille
as well as the promotion of Sylvain Lehoux to the role of Vice
President &amp; General Manager, Qu&#xE9;bec.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Brock
Gill will join the Company as Senior Vice President, Projects &amp;
Transformation in March. Brock will oversee development engineering
activities, project delivery of major capital projects, and
transformation through business improvement initiatives. He
previously held the role of Vice President, Projects with BHP where
he was responsible for leading the multi-billion-dollar Jansen
Potash Project and other key development projects.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Simon
Hille joined Eldorado in November, 2020 as Vice President,
Technical Services. He is responsible for technical projects and
fostering innovation throughout the Company. Prior to joining
Eldorado, Simon was with Newmont (Goldcorp), as Group Executive,
Technical Engineering and Global Projects. Ahead of the Newmont
merger, Simon was Vice-President, Global Innovation, Metallurgy and
Processing at Goldcorp. He also held progressively senior
leadership roles in metallurgy and process development with Barrick
Gold and Newcrest Mining. Simon has over 30 years of experience in
gold and base metals specializing in leading high-performance,
cross-functional technical and operational teams to maximize value
from complex ore bodies.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Sylvain
Lehoux was promoted to the role of Vice President &amp; General
Manager, Qu&#xE9;bec in early December 2020. He will continue to
oversee all mine site operations in Qu&#xE9;bec while also taking
on increased responsibilities as an ambassador for Eldorado in the
region. Sylvain joined Eldorado in June 2017 as General Manager of
the Company&#x2019;s Lamaque mine. Prior to that, he was General
Manager of the Westwood Mine with IAMGOLD Corporation and held the
role of Vice President Operations with Alexis
Minerals.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 3px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
About Eldorado Gold</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 3px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Eldorado
is a gold and base metals producer with mining, development and
exploration operations in Turkey, Canada, Greece, Romania, and
Brazil. The Company has a highly skilled and dedicated workforce,
safe and responsible operations, a portfolio of high-quality
assets, and long-term partnerships with local communities.
Eldorado's common shares trade on the Toronto Stock Exchange
(<font style="font-weight: bold">TSX: ELD</font>) and the New York
Stock Exchange (<font style="font-weight: bold">NYSE:
EGO</font>).</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Contacts</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Investor Relations</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Jeff
Wilhoit, Interim Head of Investor Relations</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">604.376.1548
or 1.888.353.8166<font style="font-size: 13px">&#xA0;</font><font style="text-decoration: underline; color: #0000FF">jeff.wilhoit@eldoradogold.com</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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Media</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Louise
Burgess, Director Communications &amp; Government
Relations</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">604.616.2296
or 1.888.363.8166 <font style="text-decoration: underline; color: #0000FF">louise.burgess@eldoradogold.com</font></font></div>
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<font style="font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
Cautionary Note About Forward-Looking Statements and
Information</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
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 "plans", "expects",
"is expected", "budget", &#x201C;continue&#x201D;,
&#x201C;projected&#x201D;, "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negatives thereof or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
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, cost guidance and recoveries and grade, and and five
year production outlook; Kisladag grade improvement in 2021 and
HPGR commissioning and investments, including costs and timing;
improvements at Olympias; planned capital projects, including
timing; any debt reduction; expected mining volume, grade and
recoveries; forecasted cash costs and AISC; growth capital projects
at its properties, including anticipated timing and benefits;
commodity and currency price assumptions; duration, extent and
other implications of COVID-19 and any restrictions and suspensions
with respect to our operations; our expectations regarding the
timing and quantity annual gold production; our expectation as to
our future financial and operating performance, including
expectations around generating free cash flow; working capital
requirements; debt repayment obligations; use of proceeds from
financing activities; expected metallurgical recoveries and
improved concentrate grade and quality; gold price outlook and the
global concentrate market; redemption of senior secured notes; risk
factors affecting our business; our strategy, plans and goals,
including our proposed exploration, development, construction,
permitting and operating plans and priorities and related
timelines; and schedules and results of litigation and arbitration
proceedings.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Forward-looking statements and forward-looking information by their
nature are based on assumptions and involve known and unknown
risks, market 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.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
We have made certain assumptions about the forward-looking
statements and information, including assumptions about: production
and cost guidance, how the world-wide economic and social impact of
COVID-19 is managed and the duration and extent of the COVID-19
pandemic; timing and cost of construction; the geopolitical,
economic, permitting and legal climate that we operate in; the
future price of gold and other commodities; the global concentrate
market; exchange rates; anticipated costs, expenses and working
capital requirements; 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. . In particular, except where
otherwise stated, we have assumed a continuation of existing
business operations on substantially the same basis as exists at
the time of this release.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
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.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
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: ability to
meet production and cost guidance, global outbreaks of infectious
diseases, including COVID-19; timing and cost of construction, and
the associated benefits; recoveries of gold and other metals;
geopolitical and economic climate (global and local), risks related
to mineral tenure and permits; gold and other commodity price
volatility; information technology systems risks; continued
softening of the global concentrate market; risks regarding
potential and pending litigation and arbitration proceedings
relating to our 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; financing risks; foreign country
operational risks; risks of sovereign investment; regulatory risks
and liabilities including environmental regulatory restrictions and
liability; discrepancies between actual and estimated production;
mineral reserves and resources and metallurgical testing and
recoveries; additional funding requirements; currency fluctuations;
community and non-governmental organization actions; speculative
nature of gold exploration; dilution; share price volatility and
the price of our common shares; competition; loss of key employees;
and defective title to mineral claims or properties, as well as
those risk factors discussed in the sections titled
&#x201C;Forward-Looking Statements&#x201D; and "Risk factors in our
business" 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 and EDGAR 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&#x2019;s business and operations.</font></div>
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The inclusion of forward-looking statements and information is
designed to help you understand management&#x2019;s current views of
our near- and longer-term prospects, and it may not be appropriate
for other purposes.</font></div>
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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.</font></div>
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<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Except as otherwise noted, scientific and technical information
contained in this press release was reviewed and approved by Simon
Hille, FAusIMM and VP Technical Services for the Company, and a
"qualified person" under NI 43-101.</font></div>
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