Eldorado Gold Announces Key Milestone: First Ore Crushed at Skouries

Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) (“Eldorado” or the “Company”) is pleased to provide an update on progress at its Skouries copper-gold project in Northern Greece. Skouries is in the final stages of construction and has entered the commissioning phase, with first ore now processed through the crushing circuit. The Company continues to target first production of copper-gold concentrate in the third quarter of 2026 and commercial production targeted for the fourth quarter of 2026, subject to completion of final site energization, integrated commissioning and ramp-up activities. Highlights First ore crushed. First ore has been fed through the commissioned crushing circuit, an important demonstration that front-end processing is operating as expected. Commissioning continues across the site. Wet and dry commissioning activities are progressing across the crushing, grinding, flotation, concentrate handling, and tailings circuits, with systems being handed over from construction to the combined commissioning and operations team on a staged basis. Final site energization remains subject to Greek power authority completion of testing. The final transmission tower has been installed following a coordinated and successful eight-hour power outage on the transmission line. Full site energization remains contingent on final inspection by the relevant Greek authority and receipt of final sign-off. To support commissioning readiness and ongoing process plant activities while final site energization progresses, the Company has proactively added additional gensets to provide interim power as required. Ore stockpile of approximately 3.9 million tonnes. Open pit mining continues to run ahead of schedule, building a run-of-mine stockpile of approximately 3.4 million tonnes to support a steady ramp-up of the plant. Including ore from the underground, total stockpiles have reached approximately 3.9 million tonnes. This stockpile is expected to provide the ore feed required through 2026 and supports a lower-risk commissioning and first year of production. “Crushing first ore is an important milestone for Skouries and reflects the steady, safe progress being made by our team as the project moves through the final stages of construction and staged commissioning,” said George Burns, Chief Executive Officer. “While final site energization remains subject to final inspection and sign-off by the Greek power authority, we are taking proactive steps to maintain momentum, including adding the supplemental generators to support commissioning readiness and activities within the process plant. Full integrated operation of the process plant will require final site energization, and our focus remains on completing the remaining steps safely and methodically as we work toward first concentrate in the third quarter.” First Ore Through the Crushing Circuit First ore has been fed through the commissioned crushing circuit, with ore now being processed as part of staged commissioning. Full handover of the crushing circuit from the commissioning team to the operations team is currently underway. The Company expects to introduce ore to the grinding and flotation circuits as those systems are progressively commissioned, building toward first copper-gold concentrate production in the third quarter of 2026.