Eldorado Gold Releases Updated Mineral Reserve and Mineral Resource Statement; Offsetting Depletion and Increasing Mineral Reserves at Key Operations

Core Insights - Eldorado Gold Corporation has reported an increase in its Mineral Reserves and Resources as of September 30, 2025, with a 5% rise in Mineral Reserves and a 21% increase in Inferred Mineral Resources, reflecting successful exploration efforts and resource conversion [2][6][12]. Mineral Reserves Summary - The total Proven and Probable gold Mineral Reserves reached 12.5 million ounces, up from 11.9 million ounces in the previous year, marking a 5% increase [6][9]. - The Lamaque Complex saw a significant 25% increase in Mineral Reserves, contributing to the overall growth [2][8]. - The average mine life across operations is projected to be 13 years, with specific mine life estimates as follows: Kisladag Mine (13 years), Olympias Mine (16 years), and Skouries Project (20 years) [5]. Mineral Resources Update - Measured and Indicated Mineral Resources totaled 17.4 million ounces, reflecting a 5% decrease from the previous year, primarily due to depletion at Kisladag and Perama Hill [11]. - Inferred Mineral Resources increased to 8.2 million ounces, a 21% rise, driven by new resources identified at Bonnefond and Perama Hill [12][14]. Exploration and Growth Strategy - The company plans to continue investing in organic growth through exploration, focusing on extending mine life at existing operations and pursuing new discoveries in Canada and Turkiye [5][17]. - Successful resource conversion at the Lamaque Complex, particularly in the Ormaque and Triangle zones, has positioned the complex for long-term growth [4][13]. Detailed Changes in Mineral Reserves - The following changes in Mineral Reserves were noted: - Lamaque Complex increased from 1.3 million ounces to 1.6 million ounces, a change of 314, with significant contributions from Ormaque and Triangle zones [9][13]. - Kisladag increased by 11% to 3.9 million ounces, while Olympias saw a slight increase to 1.8 million ounces [8][9]. Financial Assumptions - The updated Mineral Reserves reflect a conservative gold price assumption of $1,700 per ounce, up from $1,450 per ounce in the previous year, indicating a resilient portfolio [2][6].