Eldorado Gold Receives Operating Authorization for Ormaque Deposit

Eldorado Gold has received from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks its Operating Authorization for the Ormaque deposit at the Lamaque Complex in Val-d'Or, Quebec. The Operating Authorization allows Ormaque to mine and deliver high-grade underground ore to the Sigma Mill and unlocks the value of development capital already invested at the Lamaque Complex. Ormaque is located within the Lamaque Complex and benefits from existing infrastructure, including underground access developed from the Triangle-Sigma decline and proximity to the Sigma Mill. The addition of Ormaque enhances Lamaque's production flexibility by providing an additional source of high-grade feed that will be sequenced and blended alongside ore from the Triangle deposit. "We are proud of the strong evolution of the Lamaque Complex since Eldorado's acquisition, particularly given the relatively short period of time in which this progress has been achieved," said George Burns, Chief Executive Officer. "The Ormaque Operating Authorization demonstrates our ability to advance a discovery, reported in January 2020, efficiently through to operating approval in Quebec, supported by highly prospective geology across a strong land position. Ormaque provides an additional source of high-grade ore to support the Sigma Mill, enhances our production flexibility, and builds on the investment our operating team has made in underground development. With ongoing drilling aimed at expanding the deposit, Ormaque further reinforces the Lamaque Complex as a cornerstone asset within Eldorado's portfolio. Of equal importance, bringing Ormaque online helps sustain existing employment while also creating new job opportunities and generating long-term economic benefits for the Val-d'Or region. This achievement also demonstrates our continued positive working relationship with the Ministry and the Government of Quebec."