RNS Number : 7106X
  European Goldfields Ltd
  27 June 2008
   


 Immediate Release  27 June 2008




    European Goldfields Limited

    Annual Report and Accounts 2007

    27 June 2008 - European Goldfields Limited (AIM: EGU) announces the Company's annual report and accounts for the year ended 31 December
2007 has been posted to shareholders and is available from the Company's website www.egoldfields.com.
    About European Goldfields
    European Goldfields Limited is a resource company involved in the acquisition, exploration and development of mineral properties in
Greece, Romania and South-East Europe.
    Greece - European Goldfields holds a 95% interest in Hellas Gold S.A. Hellas Gold owns three major gold and base metal deposits in
Northern Greece.  The deposits are the polymetallic operation at Stratoni, the Olympias project which contains gold, zinc, lead and silver,
and the Skouries copper/gold porphyry project. Hellas Gold commenced production at Stratoni in September 2005 and commenced selling an
existing stockpile of gold concentrates from Olympias in July 2006. Hellas Gold is applying for permits to develop the Skouries and Olympias
projects.
    Romania - European Goldfields owns 80% of the Certej gold/silver project in Romania. The Company submitted in March 2007 a technical
feasibility study to the Romanian government in support of a permit application to develop the project. In March 2008, European Goldfields
submitted the Environmental Impact Study to the Romanian environmental authorities to start the assessment of the environmental impact of
the Certej Project.

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

 Buchanan Communications:  e-mail: bobbym@buchanan.uk.com 
 Bobby Morse / Ben Willey  Office: +44 (0)20 7466 5000
 RBC Capital Markets:       e-mail: andrew.smith@rbccm.com
 Andrew K Smith                   Tel: +44 (0)20 7029 7882

    Forward-looking statements
    Certain statements and information contained in this document, including any information as to the Company's future financial or
operating performance and other statements that express management's expectations or estimates of future performance, constitute
forward-looking information under provisions of Canadian provincial securities laws. When used in this document, the words "anticipate",
"expect", "will", "intend", "estimate", "forecast", "planned" and similar expressions are intended to identify forward-looking statements or
information. Forward-looking statements include, but are not limited to, the estimation of mineral reserves and resources, the timing and
amount of estimated future production, costs and timing of development of new deposits, permitting time lines and expectations regarding
metal recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered
reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the
Company to be materially different from its estimated future results, performance or achievements expressed or implied by those
forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other
factors include, but are not limited to: changes in the price of gold, base metals or certain other commodities (such as fuel and
electricity) and currencies; uncertainty of mineral reserves, resources, grades and recovery estimates; uncertainty of future production,
capital expenditures and other costs; currency fluctuations; financing and additional capital requirements; the successful and timely
permitting of the Company's Skouries, Olympias and Certej projects; legislative, political, social or economic developments in the jurisdictions in which the Company carries on business; operating or technical
difficulties in connection with mining or development activities; the speculative nature of gold and base metals exploration and
development, including the risks of diminishing quantities or grades of reserves; the risks normally involved in the exploration,
development and mining business; and risks associated with internal control over financial reporting. For a more detailed discussion of such
risks and material factors or assumptions underlying these forward-looking statements, see the Company's Annual Information Form for the
year ended 31 December 2007, filed on SEDAR at www.sedar.com. The Company does not intend, and does not assume any obligation, to update or
revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.


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