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European Goldfields Confirms Adjournment Of Special Meeting To Approve Qatar Financing

European Goldfields Limited (EGU.TO) has confirmed that at the Special Meeting of Shareholders held at the offices of Stikeman Elliott LLP in Toronto today, a motion to adjourn the Special Meeting was approved. The Special Meeting had been called pursuant to the Notice of Meeting distributed to shareholders on November 23, 2011 to approve the financing transaction with Qatar Holding.

On December 18, European Goldfields announced that it had signed an arrangement agreement with Eldorado Gold Corporation (ELG.TO) under which Eldorado proposes to acquire all of the issued and outstanding shares of European Goldfields via a plan of arrangement under the Yukon Business Corporations Act.

In light of the proposed Arrangement with Eldorado, the motion was proposed and approved to adjourn the Special Meeting in order to permit European Goldfields time to prepare, file and mail an information circular to shareholders describing in detail the proposed Arrangement, and to place the Arrangement before shareholders for approval, prior to voting on the proposed Qatar Holding Financing.

The Special Meeting to vote on the Qatar Holding Financing would be adjourned until after the conclusion of European Goldfields' and Eldorado's shareholder meetings to approve the proposed Arrangement, expected to be held no later than February 29, 2012.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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