Nice little pop here today my friend. News out..........
Exploration Agreement Turkey
5/9/01
ELDORADO GOLD CORP ("ELD-T") - Exploration Agreement - Turkey
Eldorado Gold Corporation is pleased to announce the establishment of an Exploration Agreement between Tuprag Metal Madencilik San ve Tic. Ltd. Sti. ("Tuprag") (100% Eldorado subsidiary) and Demir Export A.S. ("Demir Export") (an affiliate of the Koc Group).
The agreement draws on both groups' experience in Turkey and establishes the basis for joint exploration, development and subsequent operation of metal mines in the country. The agreement does not include or affect the status of Eldorado's existing projects in Turkey.
Demir Export is an affiliate company of the Koc Group and has been involved in mining of ferrous and nonferrous metals, coal, and magnesite since its foundation in 1957. Demir Export also provides research, exploration, engineering and contract mining services to the mining industry in Turkey. The Koc Group, was founded in 1926 and has its headquarters in Istanbul, Turkey. It is comprised of 99 consolidated companies with activities in 22 countries, and had gross sales of US$12 billion in 2000. The Koc Group is a recognized leader in a number of its business sectors, which include automotive manufacturing and distribution, food retailing, financial services, building materials, construction, energy and international trade.
Commenting on the agreement, Paul N. Wright, President and CEO of Eldorado stated, "We look forward to growing a long-term relationship with Demir and together developing a successful metal mining business. The skills and assets of Demir are extremely complementary to ours."
Eldorado Gold Corp. is an international gold mining company with an extensive background in acquiring, discovering and developing quality gold assets. The Company's goal is to create a portfolio of low cost mining assets with a strong financial base.
ON BEHALF OF ELDORADO GOLD CORPORATION
/Paul Wright/
Paul N. Wright
President and Chief Executive Officer
Eldorado Gold Corporation's shares (Symbol: ELD) trade on the Toronto Stock Exchange ("TSE") TEL: (604) 687-4018 Investor Relations Contacts, Michael Beley TEL: 1-888-ELD-8166 FAX: (604) 687-4026 e-mail: infor@eldoradogold.com Internet: www.eldoradogold.com
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