EGU European Gold

RNS Number:7992A
European Goldfields Ltd
03 April 2006


For Immediate Release                                               3 April 2006


                          European Goldfields Limited

                       APPOINTMENT OF CFO & VP OPERATIONS


European Goldfields Limited (AIM: EGU / TSX: EGU) (the "Company") is pleased to
announce the appointment of Mr Timothy Morgan-Wynne as Chief Financial Officer
and a director of the Company, effective 1 June 2006. He replaces David Grannell
who stepped down on 31 March to pursue other opportunities.

Tim Morgan-Wynne is a Director of the Resources and Energy Group at HSBC Bank
plc. He has worked in HSBC's mining sector corporate finance team since 1997,
and has gained a broad experience of corporate finance and capital markets on
transactions involving companies in the UK, Europe, North America and South
Africa. He is a graduate of St. John's College, Cambridge and a member of the
Institute of Chartered Accountants in England and Wales.

The Company is also pleased to announce the appointment of Neil Hepworth as Vice
President, Operations of the Company.  Neil joined the Company in June 2006 as
Senior Mining Engineer and initially focused his attention, with the team at
Hellas Gold, on the launch of mining operations at Stratoni and the completion
of studies for input into the business plans recently submitted to the Greek
State.

Neil Hepworth has over 20 years' experience as a mining engineer, most recently
with Somincor (Neves Corvo Mine in Portugal). His expertise in underground
mining with backfill will be central to developing the Company's major gold and
base metals projects of Skouries and Olympias in Greece.  Neil will also manage
the completion of feasibility studies on the Company's Certej project in
Romania.

Commenting on the appointments, David Reading, Chief Executive Officer of
European Goldfields, said: "We are delighted to welcome Tim Morgan-Wynne to our
team. He has strong credentials as a financial executive and has extensive due
diligence, financing and M&A experience.

"Neil Hepworth and the Hellas Gold team successfully launched production at
Stratoni in September 2005 and we are confident that they can repeat this
success at Skouries and Olympias. Neil has strong credentials as a mining
engineer and mine operator. This makes him a solid addition to our executive
team.

David Grannell has been with us since 2003 and his contribution has been
instrumental in turning around the company, developing our Greek assets and
cementing our key partnership with Aktor. We thank David for his significant
contribution and wish him the best of success in his new ventures."

Tim Morgan-Wynne added: "European Goldfields has entered into a very exciting
period of its development, with production having commenced in Greece as well as
the recent submission of the business plans for the major gold projects.  I
believe that European Goldfields has the assets to become one of the largest
base and precious metal mining companies in Europe and I look forward to joining
what I consider to be a dynamic team with a proven track record."

Mr. Morgan-Wynne, aged 38, is not a director of any other company and there are
no other matters under paragraph (g) of Schedule 2 of the AIM rules to be
disclosed.

About European Goldfields

European Goldfields Limited is a resource company involved in the acquisition,
exploration and development of mineral properties in Greece, Romania and the
Balkans.

Greece - The Company holds a 65% interest in Hellas Gold S.A. ("Hellas Gold").
Hellas Gold owns assets in northern Greece which consist of three deposits
within 70-year mining concessions covering a total area of 317 km(2). The
deposits include the polymetallic projects of Stratoni and Olympias which
contain gold, lead, zinc and silver, and the copper/gold porphyry body referred
to as Skouries. All three deposits have been well defined with over 200,000
metres of drilling and the completion of feasibility studies and later
engineering studies.

The total proven and probable reserves of these assets are 7.6 Moz gold, 65.8
Moz silver, 0.7 Mt copper, 0.7 Mt lead and 0.9 Mt zinc, from a measured and
indicated resource base of 9.4 Moz gold, 74.5 Moz silver, 1.0 Mt copper, 0.8 Mt
lead and 1.1 Mt zinc (65% attributable).

These assets represent some of the largest defined deposits in Europe. The three
deposits are located within a 10 km radius of each other, making this
effectively a gold and base metals centre. Furthermore, both Stratoni and
Olympias were previously in production and have extensive existing mining and
plant infrastructure and a ship-loading facility on the Aegean Sea.

Hellas Gold's assets also include potential revenue-generating stockpiles of
gold concentrates.

In September 2005, Hellas Gold resumed production at Stratoni following the
award by the Greek State of all necessary environmental and mining permits.
Hellas Gold is in the process of applying for similar permits for Olympias and
Skouries, having met its first milestone by submitting business plans to the
Greek government in January 2006.

Romania - The Company holds five mineral properties located within the "Golden
Quadrilateral" area of Romania, where it has recently completed an in-house
pre-feasibility study underpinning the value of its
80%-owned Certej deposit. The Certej deposit hosts measured and indicated
resources of 31.4 Mt grading
2.1 g/t gold and 11 g/t silver for 2.2 Moz gold and 11.0 Moz silver (80%
attributable).



For further information please contact:

European Goldfields:                           e-mail: info@egoldfields.com
David Reading, Chief Executive Officer         website: www.egoldfields.com
Office: +44 (0)20 7408 9534

Buchanan Communications:                       e-mail: bobbym@buchanan.uk.com
Bobby Morse / Ben Willey
Office: +44 (0)20 7466 5000
Mobile: +44 (0)7802 875 227

The Sherbourne Group:                          e-mail: forbes@sherbournegroup.ca
Forbes West
Office: +1 416 203 2200



Resources & Reserves Parameters

For additional information on the resource and reserve estimates quoted in this
news release, please refer to the Company's Resources & Reserves Declaration at
www.egoldfields.com/goldfields/resources.jsp.
Patrick Forward, General Manager, Exploration of the Company, was the Qualified
Person under Canadian National Instrument 43-101 responsible for reviewing the
disclosure of resource and reserve estimates quoted in this news release.



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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