HIGHLIGHTS

11.9 M oz
Proven + Probable Mineral Reserves as at Sept 30, 2024
22.0 M oz
Measured & Indicated Mineral Resources as at Sept 30, 2024
6.8 M oz
Inferred Mineral Resources as at Sept 30, 2024

Note: Mineral Reserves are including in the Mineral Resources

ELDORADO'S PROVEN AND PROBABLE RESERVES

Eldorado's Proven and Probable Mineral Reserves at September 30, 2024 totalled 11.9 million ounces of gold. Measured and Indicated Mineral Resources at September 30, 2024 totalled 22.0 million ounces of gold.
Complete Mineral Reserve and Mineral Resource data including tonnes, grades and ounces are shown in the tables below. Major assumptions and qualified persons responsible for these numbers are in the notes below these tables.

To download a copy of these tables, click here

Eldorado Gold Mineral Reserves as of September 30, 2024

ProjectProven Mineral ReservesProbable Mineral ReservesTotal Proven and Probable
GoldTonnes
(x1000)
Au
g/t
Contained Au
ounces (x1000)
Tonnes
(x1000)
Au
g/t
Contained Au
ounces (x1000)
Tonnes
(x1000)
Au
g/t
Contained Au
ounces (x1000)
Efemçukuru9855.131623,4364.675154,4214.77678
Kışladağ151,8780.683,29615,6880.52263167,5660.663,559
Triangle, Parallel1,3575.702491,9566.504093,3136.19658
Ormaque37.7612,6617.226182,6647.22619
Lamaque Complex1,3605.722504,6176.921,0275,9776.651,277
Olympias3,4117.908685,9304.709039,3415.891,770
Perama Hill3,1164.084097,1962.5458710,3123.01997
Skouries73,1010.872,05374,0150.661,576147,1160.773,630
TOTAL GOLD233,8510.947,038110,8821.374,871344,7331.0711,911
SilverTonnesAgContained AgTonnesAgContained AgTonnesAgContained Ag
 (x1000) g/tounces (x1000)(x1000) g/tounces (x1000)(x1000) g/tounces (x1000)
Olympias3,41111812,9795,93011622,0469,34111735,024
Perama Hill3,1164.024037,1965.371,24110,3124.961,644
TOTAL SILVER6,5276413,38213,1265523,28719,6535836,668
CopperTonnesCuContained CuTonnesCuContained CuTonnesCuContained Cu
 (x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)
Skouries73,1010.5238174,0150.49359147,1160.50740
TOTAL COPPER73,1010.5238174,0150.49359147,1160.50740
LeadTonnesPbContained PbTonnesPbContained PbTonnesPbContained Pb
 (x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)
Olympias3,4113.71285,9304.22509,3414.0378
TOTAL LEAD3,4113.71285,9304.22509,3414.0378
ZincTonnesZnContained ZnTonnesZnContained ZnTonnesZnContained Zn
 (x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)
Olympias3,4114.61585,9305.33159,3415.1474
TOTAL ZINC3,4114.61585,9305.33159,3415.1474

Eldorado Gold Mineral Resources as of September 30, 2024(1)

ProjectMeasured ResourcesIndicated ResourcesTotal Measured and IndicatedInferred Resources
GoldTonnes
(x1000)
Au
g/t
Contained Au
ounces (x1000)
Tonnes
(x1000)
Au
g/t
Contained Au
ounces (x1000)
Tonnes
(x1000)
Au
g/t
Contained Au
ounces (x1000)
Tonnes
(x1000)
Au
g/t
Contained Au
ounces (x1000)
Efemçukuru(2)1,5567.233623,8496.407935,4056.641,1551,3004.02168
Kışladağ260,1310.615,12942,3580.50687302,4890.595,8166,6560.47100
Triangle, Plug #4, Parallel2,2696.554774,3676.749476,6366.671,4248,1886.581,731
Ormaque(3)37.7611,41416.447471,41716.417481,75014.87837
Lamaque Complex2,2726.554785,7819.121,6948,0538.392,1729,9388.042,568
Olympias4,2009.711,3116,9666.041,35211,1667.422,6632,0816.82457
Perama Hill3,0934.1541210,9732.7396214,0663.041,3741,1361.6359
Perama South00.00000.00000.00014,8701.52728
Piavitsa00.00000.00000.0006,6134.821,025
Sapes00.00000.00000.0003,4347.43820
Skouries90,7140.852,479149,2600.532,551239,9740.655,03067,6570.37814
For divestiture:
Certej(4)29,3001.731,62658,6531.172,20387,9531.353,8298420.8623
TOTAL GOLD391,2660.9411,797277,8401.1510,242669,1061.0222,039114,5271.846,762
SilverTonnesAgContained AgTonnesAgContained AgTonnesAgContained AgTonnesAgContained Ag
 (x1000)g/tounces (x1000)(x1000)g/tounces (x1000)(x1000)g/tounces (x1000)(x1000)g/tounces (x1000)
Efemçukuru1,556221,0913,849222,6635,405223,7541,300311,303
Olympias4,20014719,8466,96613931,11911,16614250,9652,0811359,028
Perama Hill3,093441510,97372,57914,06672,9941,136283
Piavitsa0000000006,6135411,389
Stratoni0001,3911526,7851,3911526,7851,8071669,672
For divestiture:
Certej(4)29,30098,11158,6531018,10387,953926,2148424110
TOTAL SILVER38,1492429,46381,8322361,249119,9812490,71213,7797131,585
CopperTonnesCuContained CuTonnesCuContained CuTonnesCuContained CuTonnesCuContained Cu
 (x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)
Skouries90,7140.51466149,2600.44652239,9740.471,11867,6570.40267
TOTAL COPPER90,7140.51466149,2600.44652239,9740.471,11867,6570.40267
LeadTonnesPbContained PbTonnesPbContained PbTonnesPbContained PbTonnesPbContained Pb
 (x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)
Olympias4,2004.71976,9665.035011,1664.95472,0815.0105
Stratoni00.001,3916.0841,3917.0841,8076.9124
TOTAL LEAD4,2004.691978,3575.243412,5575.06313,8885.9229
ZincTonnesZnContained ZnTonnesZnContained ZnTonnesZnContained ZnTonnesZnContained Zn
 (x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)(x1000)%tonnes (x1000)
Olympias4,2005.92476,9666.545111,1666.36982,0815.9123
Stratoni00.001,3918.41171,3918.41171,8078.3150
TOTAL ZINC4,2005.92478,3576.856812,5576.58153,8887.0273

Notes:

(1) Resource grades are reported undiluted, however resources are assessed for reasonable expectation of economic extraction by applying expected minimum mining shapes.

(2) Mineralized shapes based on RPEEE identified based on 2.5 g/t Au COG; within shapes material below incremental COG of 1.0 g/t have been excluded; grades are diluted by must-take material between 1.0 and 2.5 g/t Au.

(3) Due to narrow veins, continued conversion of Resources to Reserves at Ormaque will reflect expected lower grades to fully represent mining modifying factors.

(4) As discussed in the Q3 2024 Management Discussion & Analysis, the Certej project has been presented as a disposal group held for sale as at September 30, 2024 and as a discontinued operation for the three and nine months ended September 30, 2024. On October 7, 2024, the Company entered into a share purchase agreement to sell the Certej project. The closing of the disposition is subject to certain conditions. 

Notes on Mineral Reserves and Resources:

(1) Mineral Reserves and Mineral Resources are as of September 30, 2024.

(2) The Mineral Reserves and Mineral Resources were classified using logic consistent with the CIM Definition Standards for Mineral Resources & Mineral Reserves (2014) incorporated, by reference, into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Sample preparation, analytical techniques, laboratories used, and quality assurance and quality control protocols used during exploration drilling programs are done consistent with industry standards and independent certified assay labs are used.

(3) Mineral Reserves are included in the Mineral Resources.

(4) The Mineral Reserves and Mineral Resources are disclosed on a total project basis.

Mineral Reserve Notes:

(1) Long Term Metal Price assumptions: Gold = $1450/oz; Silver = $19.00/oz; Copper = $2.75/lb; $6,061/t; Pb price = $2,000/t and Zn price = $2,500/t.

(2) Cut-off grades: Efemcukuru: $130.05/t NSR (long hole stoping), $136.10/t NSR (drift and fill); Kisladag: 0.179 g/t Au Recoverable; Lamaque Complex: 4.99 g/t Au (long hole stoping); 5.67 g/t Au (drift and fill); Olympias: $216.79/t NSR; Perama Hill: 0.81 g/t Au; Skouries: $10.60/t NSR (open pit), $33.33/t NSR (underground). 

(3) Qualified Persons: Mike Tsafaras, P.Eng., Director, Mine Planning for the Company, is responsible for Efemcukuru and Skouries (underground); Herb Ley, SME-RM Senior Project Manager of Stantec, is responsible for Kisladag and Perama Hill; Jessy Thelland, géo (OGQ No. 758)., Technical Services Director Lamaque for the Company, is responsible for Lamaque Complex: Triangle, Parallel, Plug #4. Phillippe Groleau, Eng (OIQ No. 5032770), Senior Strategic Planner for the Company, is responsible for Lamaque Complex: Ormaque. Filip Medinac, P.Eng, Technical Services Manager, Olympias for the Company, is responsible for Olympias. Victor Vdovin, P.Eng., Head of Technical Services, Kassandra for the company, is responsible for Skouries (open pit).

Mineral Resource Notes:

(1) The Mineral Resources used a long term look gold metal price of $1,800/oz for the determination of resource cut-off grades or values. This guided execution of the next step where constraining surfaces or volumes were created to control resource reporting. Open pit-only projects (Kisladag, Perama Hill, Perama South, and Certej) used pit shells created with the long-term gold price to constrain reportable model blocks.  Underground Resources were constrained by 3D volumes whose design was guided by the reporting cut-off grade or value, contiguous areas of mineralization and mineability. Only material internal to these volumes were eligible for reporting. Projects with both open pit and underground Resources have the open pit Resources constrained by either the permit (Skouries), and pit shell, or by an open pit/underground economic crossover surface, and underground Resources constrained by a reporting shape.

(2) Cut-off grades: Certej: 0.60 g/t Au; Efemcukuru: 2.5 g/t Au (note: Mineralized shapes based on RPEEE identified based on 2.5 g/t Au COG; within shapes material below incremental COG of 1.0 g/t have been excluded; grades are diluted by must-take material between 1.0 and 2.5 g/t Au.); Kisladag: 0.27 g/t Au (in-situ); Lamaque Complex (Triangle, Plug #4, Parallel, Ormaque): 3.5 g/t Au; Olympias: $115/t NSR; Perama Hill and Perama South:  0.50 g/t Au; Piavitsa: 4.0 g/t Au; Sapes: 2.5 g/t Au (underground), 1.0 g/t Au (open pit); Skouries: 0.30 g/t Au Equivalent grade (open pit), 0.70 g/t Au Equivalent grade (underground) (=Au g/t + 1.25*Cu%); Stratoni: $200/t NSR, based on Zn Equivalent grade of 10%. 


(3) Qualified Persons: Sean McKinley, P.Geo., Manager, Mine Geology & Advanced Projects for the Company, is responsible for the Certej, Perama Hill, Perama South, Piavitsa, Sapes and Skouries mineral resources; Jessy Thelland, géo (OGQ No. 758), Technical Services Director Lamaque for the Company, is responsible for Lamaque Complex: Triangle, Parallel, Plug #4, and Ormaque mineral resources; Hamilton Matias, MAusIMM, Principal Geology Consultant for Mining Plus, is responsible for Efemcukuru, Kisladag, Olympias, and Stratoni mineral resources.