GOLD: Eldorado pleased with Certej feasibility

ROMANIA – Vancouver's Eldorado Gold Corp. is pleased with the results of the feasibility study for its 80.5% owned Certej gold project near the town of Deva. The study projects an estimated cash cost of US$568/oz and an all-in sustaining cost of US$745/oz.

Eldorado says the initial capital requirement will be US$449 million plus sustaining capital of US$203 million, including closure. That investment would build and open pit mine and 8,000-t/d processing plant. A pressure oxidation circuit is planned. Annual average production would be 140,000 oz of gold and 830,000 oz of silver with respective recoveries being 87.4% and 80%.

The Certej project will generate a post tax internal rate of return of 13% and a net present value of $229 million at a 5% discount rate.

Mineral resources are 89.98 million measured and indicated tonnes at 1.40 g/t Au and 8.9 g/t Ag plus 12.23 million inferred tonnes at 0.96 g/t Au and 3.5 g/t Ag.

Details of the feasibility study are available in the news release dated May 26, 2015, and available at EldoradoGold.com. More information about the Certej project is available at the same website.