RNS Number:4993B
European Goldfields Ltd
03 August 2004



FOR IMMEDIATE RELEASE                                            August 3, 2004


                          European Goldfields Limited

                     Appointment of Chief Executive Officer

European Goldfields Limited (AIM: EGU / TSX-V: EGU) (the "Company") is pleased
to announce the appointment of David Reading as Chief Executive Officer with
effect from September 1, 2004.

David is currently General Manager of Exploration at Randgold Resources Limited,
the London and Nasdaq listed gold miner and has been a core member of their
executive management team since its incorporation in 1995. He has been
responsible for geological and exploration activities which includes a
successful track record in discovery and the development of new business
opportunities. Prior to this, David was consulting geologist for RSA mines at
Randgold and Exploration, spent seven years in exploration and mining with Anglo
American Corporation and periods with Phelps Dodge, BP Minerals International
and as an independent consultant. His experience is broad based and includes
involvement in feasibility studies and due diligence work in Africa, Europe,
North and South America and Australasia.

David Grannell, acting President and Chief Financial Officer, said:

"We are delighted to welcome David to European Goldfields. He has considerable
expertise within the areas we operate being a specialist in gold exploration and
mining activities with over twenty two years experience in Europe, Africa and
North America. David has long been responsible for building successful teams and
effecting and developing exploration strategies and we believe his appointment
will assist the Company significantly in its future developments in Greece and
Romania".

David John Richard Reading, aged 48, has been a director of Somilo SA (Mali -
Loulo project) in the last 5 years. There are no other matters under paragraph
(f) of Schedule 2 of the AIM rules to be disclosed.

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

For Further Information:

European Goldfields Limited:
David Grannell
London Office: +44 (0)20 7408 9534                e-mail: info@egoldfields.com
London Mobile: +44 (0)7703 190652                 website: www.egoldfields.com

Buchanan Communications :

Tim Thompson / Catherine Miles +44 (0)20 7466 5000

The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release and the information contained herein.





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

END
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