Statement Regarding Share Price Movement

    RNS Number : 1931Z
  European Goldfields Ltd
  16 July 2008
   


 For Immediate Release  16 July 2008





    European Goldfields Limited
    (TSX / AIM: EGU)
     (the "Company")

    Statement Regarding Share Price Movement

    The Board of European Goldfields has noted the recent significant fall in its share price.  European Goldfields continues to make
substantial progress on all of its assets and is looking forward to announcing its second quarter results on 14 August 2008.  The Directors
know of no reason for the share price decline.


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

 Buchanan Communications:          e-mail: [e-mail] 
 Bobby Morse / Ben Willey          Office: [phone]
 Renmark Financial Communication:  e-mail: [e-mail]
 Jason Roy                                      Tel: [phone]

 RBC Capital Markets:              e-mail: [e-mail]
 Andrew K Smith                    Tel: [phone]


    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 95% 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, the Olympias project which contains gold, zinc, lead and silver,
and the Skouries copper/gold porphyry project. Hellas Gold commenced production at Stratoni in September 2005 and commenced selling an
existing stockpile of gold concentrates from Olympias 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. In March 2008, European
Goldfields submitted the Environmental Impact Study to the Romanian environmental authorities to start the assessment of the environmental
impact of the Certej Project

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