Company Information for European Goldfields Ltd

TSX-EGU; AIM-EGU

www.egoldfields.com

Company stock charts - 12 Month chart

TSX; EGU

View full financial data

AIM; EGU

View full financial data

Company Statement

EUROPEAN GOLDFIELDS LIMITED is a resource company involved in the acquisition, exploration and development of mineral properties in Greece, Romania and the Balkans.

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.

Mission Statement: Gold and base metal production in South-East Europe through effective national stakeholder partnerships. We will evolve into a mid-tier producer through responsible development of our pipeline of projects.

Current Operations

GREECE - Hellas Gold holds 317 km² of highly prospective exploration licences in northern Greece. Recent work by Hellas Gold has highlighted a total of twenty exploration targets, including six advance targets and extensions to known deposits, seven targets of known mineralisation for follow-up work and seven conceptual targets.

A programme of mapping, reinterpretation and modelling has been undertaken on the Piavitsa advanced target. This polymetallic massive sulphide target comprises a 6 km mineralised structure with a 3.5 km central zone expressed by old manganese oxide open pits. Within the zone, seven holes drilled by the previous owners over 1,300 metres of strike length and some 500 metres of known down dip extent define three mineralised horizons averaging 12 metres width including high grade zones averaging around six metres width. Grades within the intercepts ranged from 0.3 to 22.2 g/t gold, 0 to 533 g/t silver, 0 to 26% zinc and 0 to 12% lead. The current programme has confirmed the potential of the Piavitsa target over a three kilometre strike length and has identified a high grade shoot within the main horizon. The work also identifies previously unsampled horizons of potential economic mineralisation and points to the possibility of further high grade shoots at depth. These targets will be tested with geophysics in the second half of 2007 and subsequently drilled out.

Pilot ground-based geophysical programmes have now been completed over known mineralisation at Olympias and have proven the effectiveness of EM geophysical surveys over areas that are prospective for massive sulphide mineralisation. On the basis of these results, Hellas Gold plans to fly airborne magnetic surveys over the entire licence block and airborne EM surveys over the massive sulphide belts in October 2007. The airborne surveys are aimed at identifying new target areas and prioritising these with existing targets in preparation for drilling in 2008.

ROMANIA - Exploration in Romania has focused on extending the life-of-mine of the Certej project. This comprises drilling out inferred resources and deeper, potentially high grade feeder zones, in-fill drilling and metallurgical testwork on satellite deposits, investigation of high grade vein deposits near to the project that could increase the feed grade in the early project life and the development of targets that could enhance the value of concentrates produced, by the addition of copper rich material for example. Drilling to convert inferred resources (currently treated as waste where they fall in the open pit) to the indicated category has now been completed.

In May 2007, European Goldfields announced that significant drilling intercepts have been encountered at Certej. In July 2007, European Goldfields completed a diamond and RC drilling campaign on the Certej deposit comprising 29 holes for some 3,492 metres. The drilling programme was designed to convert inferred resources within the current pit design to the indicated category and to test the link structure. To date results have been received for all of the 29 holes.

Geographical Spread

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

Board of Directors and Key Management

David Reading	(Director - Chief Executive Officer)
Timothy Morgan-Wynne	(Director - Chief Financial Officer)
Dimitrios Koutras	(Director - Non-Executive Chairman)
Philip Johnson	(Director - Non-Executive)
Hon. Robert P. Kaplan	(Director - Non-Executive)
Jeffrey O'Leary	(Director - Non-Executive)
Mark Rachovides	(Director - Non-executive)
Georgios Sossidis	(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

Annual General Meeting

May, London

Year End

December 31

Nominated Brokers

Evolution Securities Ltd
100 Wood Street
London, England
EC2V 7AN

Nominated Advisors