EURO Ressources : EURO RESSOURCES REPORTS EARNINGS FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2010

  EURO RESSOURCES REPORTS EARNINGS FOR THE SECOND QUARTER
AND SIX MONTHS ENDED JUNE 30, 2010

PARIS, France, August 12, 2010: EURO Ressources S.A. (Paris: EUR) ("EURO" or the "Company") today announced its consolidated financial results for the second quarter and first half year ended June 30, 2010 prepared in accordance with International Financial Reporting Standards as adopted by the European Union. All financial amounts are expressed in Euros.

EURO reported a net profit of €5.95 million (€0.095 per share) for the six-month period ended June 30, 2010 and a profit of €2.48 million (€0.040 per share) for the second quarter of 2010; this compares to a profit of €4.62 million (€0.074 per share) for the first six months of 2009 and €2.72 million (€0.044 per share) for the second quarter of 2009.

The following comments on the results for the second quarter and six months ended June 30, 2010 are taken from our Management's Discussion and Analysis:

Three months ended June 30, 2010 compared to three months ended June 30, 2009

We had revenue of €5.85 million in the quarter ended June 30, 2010 compared to €4.86 million in the second quarter of 2009, an increase of 20%. Substantially all of this revenue comes from the Rosebel royalty. The Rosebel gold mine produced 86,049 ounces of gold during the second quarter of 2010, a 21% decrease from the 108,947 ounces of gold produced in the second quarter of 2009, resulting primarily from processing lower head grades. The mine experienced significantly higher than normal rainfall during the period forcing a re-sequencing of ore mining. This decrease is partially offset by the 30% increase in the average price of gold for the quarter ended June 30, 2010 of $1,196.74 per ounce of gold as compared to $922.17 per ounce of gold for the same period in 2009. The weakened Euro currency was another contributing factor with a foreign exchange impact for the quarter of 6%.

General and administrative expenses in the second quarter of 2010 were €0.29 million, as compared to €0.49 million for the second quarter of 2009. The decrease of 40% was largely due to the security costs at the Paul Isnard Properties in French Guiana no longer being the Company's responsibility since the beginning of 2010, whereas during the second quarter of 2009 the Company incurred €0.17 million related to these costs. The general decrease in activities is also attributed to the fact that the Company is not seeking new business opportunities at this time.

The 16% decrease in amortization expenses in the second quarter of 2010 to €0.14 million (2009: €0.17 million) reflects the lower gold production at the Rosebel mine as compared to the second quarter of 2009.

In order to mitigate the impact of foreign exchange related to the payment on May 25, 2010 of the €17.499 million issuance premium to all shareholders of record, we entered into a foreign exchange forward contract resulting in a financial instrument expense for the quarter ended June 30, 2010 of €1.8 million (2009: €0).

Since the last 5,700 ounces of gold were settled at the end of January 2010, the Company has no more financial instrument expense related to gold for the quarter ended June 30, 2010. This compares to a financial instrument expense related to gold of €0.10 million for the quarter ended June 30, 2009, at what time there were 8,550 ounces of gold remaining under the Company's gold hedge contract.

Six months ended June 30, 2010 compared to six months ended June 30, 2009

We recorded a net profit €5.95 million (€0.095 per share) during the first six months of 2010, compared to a net profit of €4.62 million (€0.074 per share) for the first six months of 2009. We had revenue from royalties for the first six months of 2010 of €11.46 million compared to €8.82 million for the first six months of 2009, with €11.43 million earned from the Rosebel royalty (€8.73 million during the same period last year). The 30% increase in revenue for the first six months of 2010 is mainly due to a 26% increase in the average gold price for the six months ended June 30, 2010 to $1,152.22 per ounce of gold (2009: $915.18 per ounce of gold). There was a 7% decrease in gold production for the first six months of 2010 to 184,392 ounces of gold, as compared to 196,665 ounces of gold for the same period last year. We recorded an income tax expense of €3.22 million for the six months ended June 30, 2010.

We have recognized a temporary future tax credit for the six months ended June 30, 2010 of €0.02 million. Since there are no more tax losses carried forward, the deferred tax asset relates to temporary differences.

Liquidity

Consolidated cash and cash equivalents at June 30, 2010 totaled €1.65 million. All of the cash is unrestricted. We expect to have sufficient cash flow to fund our on-going operational needs.

About EURO

EURO is a French company whose principal asset is the Rosebel Royalty on gold production at the Rosebel mine operated by IAMGOLD Corporation ("IAMGOLD"). EURO has approximately 62.5 million shares outstanding. Since December 17, 2008, EURO is a majority owned subsidiary of IAMGOLD. IAMGOLD owns today directly and indirectly approximately 86% of EURO.

Statements Regarding Forward-Looking Information: Some statements in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties. There can be no assurance that future developments affecting the Company will be those anticipated by management.

Not for distribution to United States newswire services or for dissemination in the United States. The securities referred to herein have not been registered under the US Securities Act of 1933 and may not be offered or sold in the United States or to a US person absent registration or an applicable exemption from registration.

Additional information relating to EURO Ressources S.A. is available on SEDAR at www.sedar.com. Further requests for information should be addressed to:

This information is provided by HUGIN

Larry E. Phillips Directeur-Général Tel:[phone] Email : Email Contact Susanne A. Hermans Vice-President Finance Tél.: [phone] Email : Email Contact