Ms. Lynette Gould reports

ELDORADO GOLD ANNOUNCES EXTENSION AND INCREASE OF ITS SENIOR SECURED CREDIT FACILITY

Eldorado Gold Corp. has entered into an agreement with a syndicate of lenders to extend and increase its senior secured credit facility.

The credit facility has a four-year term and consists of a $350-million (U.S.) revolving senior secured credit facility (previously $250-million (U.S.)) with a $100-million (U.S.) accordion feature. The company pro-actively extended and increased the credit facility in order to replace the October, 2021, senior secured credit facility, which was maturing in 2025. The credit facility bears interest at a rate of SOFR (secured overnight financing rate) plus a margin of 2.125 to 3.250 per cent, dependent on the company's net leverage ratio.

"The extension and increase of our credit facility reflects the strong confidence that our lenders have in our business," said George Burns, Eldorado Gold's president and chief executive officer. "We are pleased to continue our long-standing partnership with our multinational bank group, the majority of whom have partnered with Eldorado for many years. With the Skouries project fully funded and expected to achieve first production in the third quarter of 2025, this facility provides additional financial flexibility to continue to strengthen and grow our business with value creating opportunities for all our stakeholders."

As at June 27, 2024, no amounts are drawn under the credit facility, however, availability is reduced by 126.2 million euros in connection with the outstanding amount of the letter of credit backstopping the company's equity commitment for the Skouries project.

Royal Bank of Canada is the administrative agent of the credit facility and RBC, Bank of Montreal, National Bank of Canada and Canadian Imperial Bank of Commerce are co-lead arrangers, joint bookrunners and co-syndication agents for the credit facility. The additional parties in the bank syndicate are Bank of America Merrill Lynch, Bank of Nova Scotia, Desjardins Bank and HSBC Continental Europe.

About Eldorado Gold Corp.

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada and Greece. The company has a highly skilled and dedicated work force, safe and responsible operations, a portfolio of high-quality assets, and long-term partnerships with local communities. Eldorado's common shares trade on the Toronto Stock Exchange (symbol ELD) and the New York Stock Exchange (symbol EGO).

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