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Company Information for European Goldfields Ltd

TSX-EGU; AIM-EGU

www.egoldfields.com

European Goldfields Minesite Presentation - 13th October 2009.pdf

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TSX; EGU

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AIM; EGU

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Company Statement

EUROPEAN GOLDFIELDS LIMITED (TSX: EGU / AIM: EGU) is a resource company involved in the acquisition, exploration and development of mineral properties in Greece, Romania and South-East Europe.

European Goldfields' common shares are listed on the AIM Market of the London Stock Exchange and on the Toronto Stock Exchange (TSX) under the symbol EGU.

Current Operations

Investment Highlights

Four major gold & base metals projects in Greece & Romania
Stratoni (Greece) producing & selling zinc & lead/silver
Olympias (Greece) selling gold concentrates (172 Kt @ 23 g/t gold)
Operations in politically and economically stable region
Total NI 43-101 reserves (attributable): 9.01 Moz gold; 73.8 Moz silver; 0.75 Mt copper; 0.68 Mt lead; 0.89 Mt zinc
Pipeline of three development-stage projects, Skouries & Olympias (Greece) and Certej (Romania); All at feasibility level, with significant infrastructure already in place
Projects on track for mining permits
Influential local partners – Aktor, largest construction company in Greece
Strong local community and government support
Significant exploration upside on 676 km² of existing concessions - Target generation from modern systematic surveys underway
Fully-funded to permitting and beyond

Growth Strategy

    * Ramp-up Stratoni production from 180 Kt in 2006 to 400 Kt by 2010
    * Drilling to expand existing Stratoni deposit
    * Development of project pipeline (Skouries / Olympias / Certej)
    * Become a mid-tier producer by 2011
    * Fully exposed to rising metal prices (un-hedged)
    * Aggressive exploration over current licence portfolio
    * New opportunities in South-East Europe

Greece
Stratoni Operation
The Company’s 95%-owned Stratoni mine consists of a massive sulphide lead-zinc-silver deposit and lies approximately 4 km from the coastal town of Stratoni in northern Greece. The mine produces high quality lead-silver and zinc concentrates. The mine has well-defined mineral reserves and the Company believes it has exciting exploration upside as the orebody is open in all directions.

In addition to existing underground access and tailings facilities, Stratoni benefits from a recently refurbished and fully operational mill and flotation plant, offices and a fully equipped analytical services laboratory, together with a ship-loading facility that can accept vessels of up to 8,000 tonnes capacity, all located at Stratoni.

Hellas Gold was awarded all necessary environmental and mining permits in September 2005 to commence operations at Stratoni. The Stratoni concentrator was then commissioned without any technical problems and confirmed historic metal recoveries of over 90%.

The mining method is conventional drift-and-fill, which is ideally suited to this high-grade orebody as it minimises dilution and maximises recovery of high-grade ore, allowing headings to change direction with changing ore geometry. The Stratoni plant has a production capacity of up to 400,000 tonnes per annum (“tpa”). As well as service vehicles, Hellas Gold has four Tamrock Quasar single-boom drill rigs for face and roofbolt drilling, five Wagner 6 cu.yd. load haul dumpers for moving ore to ore passes, and four Wagner 16- and 20-tonne underground haul trucks. All are in good operating condition. Thus there is no restriction on production caused by equipment.

Hellas Gold mined a total of 56,892 wet tonnes in Q1 2009 (Q1 2008 – 58,208). Hellas Gold completed 7 shipments in Q1 2009 (Q1 2008 – 4), five shipments of zinc and two of lead/silver.

Permitting Process, Skouries & Olympias
The Company continues to receive the support of the Greek Ministry of Development for its Business Plan and its preliminary environmental impact study (“PEIS”). The business plan focuses on a phased approach to the development of the Skouries gold-copper porphyry deposit and the Olympias gold-lead-zinc-silver deposit. The principal revenue stream in the early phases will be through the sale of concentrates. The Company’s current plan is to develop Olympias in two phases. The Company will refurbish the underground mine in the early stage and in the final phase will construct a new gold processing facility in the brownfield Stratoni area. Skouries will initially be mined as a low strip open pit operation, followed by highly productive underground mining.

Further to site visits in late 2008 by specialists from the Ministry of Culture and subsequent discussions, the Company now anticipates the approval of the PEIS within Q2 2009.

Approval of the PEIS by the Ministry of Environment will be expressed as a Project Pre-Approval from the Greek State with an invitation to the Company to submit its final EIS to allow public consultation. On approval of the EIS, the environmental permits for Skouries and Olympias will be issued.

The Company will then submit to the Greek government a final technical report on the Skouries and Olympias projects, which will restate the principles of the business plan and take into account any conditions detailed in the environmental permit. The mining permits are expected to be issued on approval of the technical report by the Greek government.

Skouries Project
The Company’s 95%-owned Skouries gold-copper project is located 35 km by road from the Stratoni port in northern Greece. Skouries is located on a high plateau with no habitation in the immediate vicinity. The project is currently at the development stage. Skouries is a typical gold-copper porphyry deposit that forms a near-vertical pipe. The project has mineral reserves of 3.9 million ounces of gold and 800Kt of copper. The project benefits from a simple metallurgical process route and will produce clean Cu-Au concentrate via flotation as well as doré from the gravity circuit.

Olympias Project
The Olympias project benefits from an existing stockpile of gold-bearing pyrite concentrates which represented, at 1st January 2009, a reserve of approximately 101,000 tonnes grading 23.5 g/t gold (containing approximately 75,000 oz of gold), in addition to tailings containing 238,000 oz of gold and substantial underground reserves of gold, lead, zinc and silver.

Hellas Gold completed 18 shipments of Olympias concentrates in Q1 2009 (Q1 2008 – 3). This translates into 26,832 tonnes of pyrite concentrates sold.

Romania
Ongoing exploration activities in adjacent concessions to Certej are aimed at increasing satellite resources to provide extension to life of mine or higher grade feed to the Certej operation. This will include step out exploration over satellite resources to investigate strike and down dip potential. As part of an ongoing generative programme, satellite image and pilot geochemical programmes over known mineralisation are currently being carried out. This will enable exploration to focus activities along structures that were active during the mineralising events.

The Company has pending applications for new exploration licences in the “Golden Quadrilateral” area of West-central Romania where the Certej deposit is located. The applications cover complex geological terrains that host significant epithermal, porphyry and volcanogenic massive sulphide (VMS) mineralisation. Remote sensing surveys and mapping are proposed over the concessions combined with geochemical surveys using results of the above mentioned pilot studies in order to define the exact methodology.

Geographical Spread

Northern Greece (Hellas Gold) and the "Golden Quadrilateral" area of Romania (Deva Gold).

Board of Directors and Key Management

Dimitrios Koutras	Director (Non-Executive Chairman)
Mark Rachovides	Director (Executive Vice President)
Timothy Morgan-Wynne	Director (Chief Financial Officer)
Dr. Jeffrey O’Leary	Director (Non-Executive)
Georgios Sossidis	Director (Non-executive)
Cameron Mingay	Director (Non-executive)
Martyn Konig	Director (Non-executive)

Company Address

Level 3
11 Berkeley Street
London, United Kingdom W1J 8DS


Telephone:	+44 (0)20 7408 9534
Facsimile:	+44 (0)20 7408 9535
Email:	info[at]egoldfields.com
Website:	http://www.egoldfields.com

Additional Address/Key Contact

Greek Operations Office
Hellas Gold S.A.
25 Ermou str.
GR 145 64 Kifissia
Greece

Romanian Operations Office
Deva Gold S.A. / European Goldfields Deva SRL
Certeju de Sus
89 Principala Str.
Hunedoara County
Romania 2700

Registered Office
Suite 200, Financial Plaza
204 Lambert Street
Whitehorse, Yukon
Canada Y1A 3T2

Capital

Date; 31 August 2009
Common Shares (issued); 179,887,381
Share Options; 2,891,665
Restricted Share Units; 972,839
Common Shares (fully-diluted); 183,751,885

Annual General Meeting

May, London

Year End

December 31

Nominated Brokers

RBC Capital Markets
Thames Court
One Queenhithe
London, England
EC4V 4DE

Nominated Advisors