BASE METALS PRODUCTION – European Goldfields ships first Greek concentrates

GREECE - EUROPEAN GOLDFIELDS of Whitehorse, Yukon, says its 65%-owned subsidiary Hellas Gold has shipped its first 2,450 tonnes of zinc concentrate.

The Stratoni mine and mill resumed production in September 2005 in the northern part of the country. Historically, the mill produced concentrate with grades of 8-10% Pb, 8-11% Zn and 200 g/t Ag with metal recoveries at about 90%. The project is expected to produce 170,000 tonnes of concentrates in its first full year of operation (2006), and that number will go up to 400,000 tonnes/year during the sixth year.

The total proven and probable reserve at Stratoni is 1.923 million tonnes grading 10.8% Zn, 8.1% Pb and 190 g/t Ag. For additional information on the resource and reserve estimates for the company's projects, visit www.egoldfields.com.