Eldorado Gold Corporation announced that, in connection with the previously announced arrangement involving the Company and European Goldfields Limited, the Supreme Court of Yukon has granted European Goldfields an interim order to commence the process of securing European Goldfields’ required approvals for the Arrangement.

In connection with the Arrangement, the Company is required by the rules of the Toronto Stock Exchange and the New York Stock Exchange to obtain shareholder approval for the issuance of its common shares pursuant to the Arrangement, and accordingly Eldorado has scheduled a meeting of its shareholders for this purpose to be held at 9:00 a.m. (Toronto time) on February 21, 2012 at the offices of Stikeman Elliot LLP, 5300 Commerce Court West, 199 Bay Street, Toronto, Ontario. The information circular and other materials relating to the Meeting are in the process of being mailed to Eldorado’s shareholders, and will also be available on Eldorado’s website (www.eldoradogold.com), on SEDAR (www.sedar.com), on EDGAR (www.sec.gov) and on the Australian Securities Exchange (www.asx.com.au).

On January 24, 2012, the Company received notice from NYSE that its notice for the record date for the meeting was untimely and failed to comply with NYSE Company Manual Rules 401.02 and 204.21, which requires record date notice to NYSE a full 10 days prior to such date. The Company agreed to comply with these requirements in the future.

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