Eldorado Gold’s Greek projects set to surge in 2026

Eldorado Gold has provided an update on its growth projects in Greece, which are expected to significantly boost the company's production and financial performance starting in 2026. The company is advancing three key projects in Greece: Skouries, Olympias Expansion, and Perama Hill.

The Skouries project is nearing completion, with first concentrate production expected by the end of the first quarter in 2026 and commercial production anticipated in mid-2026. Overall progress has reached 90% completion, including both phases of construction. Open pit mining is ahead of schedule, and underground mining has successfully completed the first of two test stopes. The company has agreed to commercial terms for concentrate off-take with leading trading firms.

At the Olympias mine, an expansion project is underway to increase processing capacity from 500,000 to 650,000 tonnes per annum. Construction is expected to be completed in the third quarter of 2026, with ramp-up beginning in the fourth quarter in 2026. The company has also secured new concentrate contracts for 2026 with improved terms that are expected to boost cash flow.

Eldorado Gold has submitted an environmental impact assessment for the Perama Hill project and is engaging with local communities. The company has established a project team in Thrace and engaged G Mining Services to complete an updated feasibility study.

"Our dedicated team at Skouries delivered an exceptional year. With the mill and crushing circuits mechanically complete, underground development and open pit mining ahead of schedule, and the filtered tailings plant nearing completion, the team is working to keep momentum and safely deliver the first concentrate production towards the end of Q1 2026," George Burns, CEO of Eldorado Gold, stated.

The company expects these projects in Greece to significantly increase its gold and copper production, improve margins, and enhance cash flow in the coming years. Eldorado Gold remains focused on commissioning Skouries and executing a disciplined, safe ramp-up while maintaining momentum across its entire Greek portfolio.

More information is available at www.EldoradoGold.com/