Certej Drilling Results

RNS Number:6670W
European Goldfields Ltd
16 May 2007




For Immediate Release                                              16 May2007



                     High Grades in Certej Infill Drilling


16 May 2007 - European Goldfields Limited (TSX / AIM: EGU) (the "Company" or
"European Goldfields") is pleased to announce that significant drilling
intercepts have been encountered at its 80%-owned Certej project in Romania.


The existing Certej reserve contains 27.7M tonnes of probable reserves grading 2
g/t gold and 11.6 g/t silver, representing 1.76Moz of gold and 10.4Moz of
silver. In March 2007, European Goldfields submitted a technical feasibility
study to the Romanian government in support of its permit application to develop
the Certej project. Work is now progressing well on an environmental impact
study, which is due for completion in Q3 2007.


In April 2007, European Goldfields initiated a 1500m diamond drilling campaign
on the Certej deposit in Romania. The drilling programme is designed to convert
inferred resources within the current pit design to the indicated category. To
date results have been received for 11 of the planned 16 holes and significant
intercepts are as follows:

+-------------+-------+-----+--------+--------+--------+-----------------------+
|   Hole ID   | From  | To  | Width  |   Au   |   Ag   |         Zone          |
|             +-------+-----+--------+--------+--------+                       |
|             |  (m)  | (m) |  (m)   | (g/t)  | (g/t)  |                       |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|   CJSD284   |  11   | 17  |   6    |  9.7   |   2    |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  37   | 68  |   31   |  6.7   |   6    |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  74   | 82  |   8    |  2.9   |   4    |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  92   | 96  |   4    |  1.6   |  192   |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|   CJSD285   |  96   | 108 |   12   |  1.5   |   55   |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  115  | 122 |   7    |  2.9   |   5    |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|   CJSD292   |  38   | 42  |   4    |  2.6   |   1    |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  46   | 70  |   24   |  1.9   |   17   |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  79   | 99  |   20   |  3.3   |   91   |West Zone, South Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|   CJSD282   |  14   | 21  |   7    |  1.6   |   4    |West Zone, North Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|   CJSD290   |   3   |  7  |   4    |  12.3  |   4    |West Zone, North Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|   CJSD291   |  146  | 149 |   3    |   2    |   71   |West Zone, North Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  155  | 158 |   3    |  6.2   |   2    |West Zone, North Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  171  | 180 |   9    |  2.7   |   4    |West Zone, North Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  188  | 196 |   8    |  1.9   |   3    |West Zone, North Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|      "      |  256  | 275 |   19   |  1.6   |   5    |West Zone, North Flank |
+-------------+-------+-----+--------+--------+--------+-----------------------+
|CJSD286 (RC) |  122  | 126 |   4    |  1.9   |   1    |     Intermediate      |
+-------------+-------+-----+--------+--------+--------+-----------------------+

Results are quoted using a 1 g/t Au lower cut-off grade, no upper grade cut was
applied and include a maximum of 5 metres consecutive internal waste. Only
intercepts >1.5 g/t Au are reported. The Certej deposit is irregular in nature,
however drilling has been conducted perpendicular to mineralization wherever
possible and as such drilled width correspond to true widths.


High gold grade drill intercepts from the southern flank of the West Zone
represent a zone of intense potassic and variably silica altered andesite which
trends southwest and is open along strike and down dip. Further holes are now
being planned in order to test the strike and dip extents of this extension to
the modelled mineralisation.


Commenting on the announcement, David Reading, Chief Executive Officer of
European Goldfields, said: "We are excited by the results, particular the high
grade intercepts on the southern flank of the West Zone and as none of this
mineralisation is included in the current reserves it represents upside for the
Certej project."


Sample preparation and analysis was carried out at the independent ISO Certified
ALS-Chemex Laboratory at Gura Rosiei, Romania, using industry standard fire
assay techniques for gold on 50-gram sample charges with atomic absorption
spectrometry (AAS) finish and aqua regia digest for silver with an AAS finish.
In addition to the laboratory's standard quality assurance / quality control
(QAQC), European Goldfields submit field duplicates, crusher duplicates, pulp
duplicates and known gold standards on a routine basis and these comprise
approximately 20% of submitted samples. Unless otherwise indicated, the
intercepts reported above are from split HQ size diamond core and the holes are
sampled at one-metre intervals throughout the entire hole.


About European Goldfields

European Goldfields is a resource company involved in the acquisition,
exploration and development of mineral properties in Greece, Romania and
South-East Europe.

Greece - European Goldfields holds a 65% interest in Hellas Gold S.A. Hellas
Gold owns three major gold and base metal deposits in Northern Greece. The
deposits are the polymetallic projects of Stratoni and Olympias which contain
gold, zinc, lead and silver, and the Skouries copper/gold porphyry body. Hellas
Gold commenced production at Stratoni in September 2005 and selling an existing
stockpile of Olympias gold concentrates in July 2006. Hellas Gold is applying
for permits to develop the Skouries and Olympias projects.

Romania - European Goldfields owns 80% of the Certej gold/silver project in
Romania. European Goldfields submitted in March 2007 a technical feasibility
study to the Romanian government, in support of a permit application to develop
the project.

For further information please contact:
European Goldfields:                          e-mail: [e-mail]
David Reading, Chief Executive Officer        Office: [phone]

Buchanan Communications:                      e-mail: [e-mail]
Bobby Morse / Ben Willey                      Office: [phone]

Renmark Financial Communication:              e-mail:[e-mail]
Neil G. Murray-Lyon                           Office: [phone]

Resources & reserves parameters

For additional information on the resource and reserve estimates quoted in this
news release, please refer to the Company's Resources & Reserves Declaration at
www.egoldfields.com/goldfields/resources.jsp. Patrick Forward, General Manager,
Exploration of the Company, was the Qualified Person under Canadian National
Instrument 43-101 responsible for reviewing the disclosure of resource and
reserve estimates quoted in this news release.

Forward-looking statements

Certain statements and information contained in this document, including any
information as to the Company's future financial or operating performance and
other statements that express management's expectations or estimates of future
performance, constitute forward-looking information under provisions of Canadian
provincial securities laws. When used in this document, the words "anticipate",
"expect", "will", "intend", "estimate", "forecast", "planned" and similar
expressions are intended to identify forward-looking statements or information.
Forward-looking statements include, but are not limited to, the estimation of
mineral reserves and resources, the timing and amount of estimated future
production, costs and timing of development of new deposits, permitting time
lines and expectations regarding metal recovery rates. Forward-looking
statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and contingencies.
The Company cautions the reader that such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause the
actual financial results, performance or achievements of the Company to be
materially different from its estimated future results, performance or
achievements expressed or implied by those forward-looking statements and the
forward-looking statements are not guarantees of future performance. These
risks, uncertainties and other factors include, but are not limited to: changes
in the price of gold, base metals or certain other commodities (such as fuel and
electricity) and currencies; uncertainty of mineral reserves, resources, grades
and recovery estimates; uncertainty of future production, capital expenditures
and other costs; currency fluctuations; financing and additional capital
requirements; the successful and timely permitting of the Company's Skouries,
Olympias and Certej projects; legislative, political, social or economic
developments in the jurisdictions in which the Company carries on business;
operating or technical difficulties in connection with mining or development
activities; the speculative nature of gold and base metals exploration and
development, including the risks of diminishing quantities or grades of
reserves; the risks normally involved in the exploration, development and mining
business; and risks associated with internal control over financial reporting.
For a more detailed discussion of such risks and material factors or assumptions
underlying these forward-looking statements, see the Company's Annual Info
rmation Form for the year ended 31 December 2006, filed on SEDAR at
www.sedar.com. The Company does not intend, and does not assume any obligation,
to update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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