GoldMinerPulse.com -- Eldorado Gold Corporation:  (NI) 43-101 Metal Valuation Report

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Eldorado Gold Corporation (ELD)

Company Web Site: www.eldoradogold.com

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2010-01-28. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-10.

External Links: Yahoo News and Quotes  |  Yahoo Message Board  |  StockCharts  |  Stockhouse  |  Canadian Insider Trading

More External Links: Knobias

Recent Production

  • 2009 : Forecast: Production of approximately 330,000 ounces of gold. 145,998 oz produced for first 6 months.
Source(s): Production forecast is from Eldorado Gold Corporation Presentation August 10, 2009.

Hedge Notes:

Eldorado Gold holds no hedge positions, slide 23 of 24.

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-10

Project/Deposit CC MVpSh  PP%  MI%  I% Gold
    KisladagTR$41.3234%52%15%20.05 M oz    
    JinfengCN$13.9339%53%8%6.76 M oz    
    EfemcukuruTR$7.3342%48%10%3.56 M oz    
    Perama HillGR$5.9334%47%19%2.88 M oz    
    White MountainCN$3.8440%54%6%1.86 M oz    
    BeyinharCN$3.6831%59%10%1.79 M oz    
    TanjianshanCN$3.6636%46%18%1.78 M oz    
    Eastern DragonCN$2.5941%44%15%1.25 M oz    
    Vila NovaBR$0.00000     
 
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-10
Metric / MetalGold
    Metal Totals39.92 M oz    
    Metal Prices in US$ (from 2010-03-10)$1,107.10 per oz    
    Metal Value per Share (MVpSh)
(Shown in US$ and based on fully diluted share count shown below)		$82.28    
    Percentage of Total Metal Value100.00%    
    PP% | MI% | I%36% | 51% | 13%    
 
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-10
    Metal Value per Share (MVpSh)   US$82.28
    Average Ore Value per Tonne   US$42.71
    Metal Value Leverage (MVL)    6.35
    Market Capitalization as % of Metal Value   15.7%
    Recent Stock Price   C$13.29   (TSX/TSXV close on 2010-03-10.)
  Conversion rate used: 1 Cnd$ = 0.974756 US$ )
    Fully Diluted Share Count   537.10 M    ( Slide 17 of 17 in Eldorado Gold Corporation, 2010 Whistler Institutional Investor Conference January 20-22, 2010, viewed January 2010. )
    PP% | MI% | I%   36% | 51% | 13%
Gold Metrics-- all Projects/Deposits
    Average Gold Ore Grade   1.2 g/t
    Market Capitalization
    per oz of Gold In Ground		   $174.31   US$  |   178.83   C$
    Gold Eq Oz Estimate   39.92 M oz   ( 39.92 M oz are in ground)
    Market Capitalization
    per oz of Gold Equilavent		   $174.31   US$  |   178.83   C$
 
See terms for more about GoldMinerPulse metrics.

Additional Notes:

Vila Nova Iron Mine Valuation Is NOT Calculated by GoldMinerPulse

GoldMinerPulse does not value iron ore deposits and as result GoldMinerPulse does not assign a value to Vila Nova project in Amapa State Brazil. 

GoldMinerPulse Coverage Status:

  • GoldMinerPulse coverage of Eldorado Gold Corporation is complete pending a final internal review.

Beyinhar    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: x, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.14    554.15 K oz     0.620 g/t     27.80 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$2.17    1.05 M oz     0.530 g/t     61.70 M t    
Estimate notes: See Proven + Probable note.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.37    180.85 K oz     0.750 g/t     7.50 M t    
Estimate notes: See Proven + Probable note.

Eastern Dragon    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Heilongjiang, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.06    513.13 K oz     8.400 g/t     2.00 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.15    557.72 K oz     8.300 g/t     2.20 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.38    183.26 K oz     5.000 g/t     1.20 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.

Efemcukuru    -  ^top^

(NI) 43-101 Report:

Title: Technical Report on the Efemçukuru Project
Date: 2007-09-17 (327 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Izmir, Turkey

Map View: View Efemchkuru gold deposit on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$3.10    1.50 M oz     9.100 g/t     5.14 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$3.51    1.70 M oz     9.550 g/t     5.54 M t    
Estimate notes: See notes above.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.73    352.06 K oz     6.430 g/t     1.70 M t    
Estimate notes: See notes above.

Jinfeng    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: x, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$5.45    2.65 M oz     5.200 g/t     19.30 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 82.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$7.33    3.56 M oz     4.650 g/t     29.00 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 82.0%.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.15    556.64 K oz     3.910 g/t     5.40 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 82.0%.

Kisladag    -  ^top^

(NI) 43-101 Report:

Title: Kisladag Project West-Central Turkey Feasibility Study Cost Update
Date: 2004-05 (152 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Usak, Turkey

Map View: View project on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$13.98    6.78 M oz     0.970 g/t     217.47 M t    
Estimate notes: Kişladağ mine, Resources And Reserves (Gold) as of December 31, 2008 web page, viewed August 2009.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$21.31    10.34 M oz     0.780 g/t     412.25 M t    
Estimate notes: Significant Mineral Resource Increase at Kisladag M+I Resources increase by 2.5 million oz. to 10.4 million oz., October 27, 2009 Press Release.
Threshold gold grades equal to 0.20 g/t.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$6.03    2.93 M oz     0.500 g/t     182.08 M t    
Estimate notes: See Measured + Indicated notes.

Perama Hill    -  ^top^

(NI) 43-101 Report:

Title: Technical Report to be submitted Q3 2009
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Thrace, Greece

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.99    964.83 K oz     3.200 g/t     9.38 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$2.81    1.36 M oz     3.620 g/t     11.71 M t    
Estimate notes: See Proven + Probable note.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.13    550.31 K oz     1.960 g/t     8.73 M t    
Estimate notes: See Proven + Probable note.

Tanjianshan    -  ^top^

(NI) 43-101 Report:

Title: TECHNICAL REPORT Tanjianshan Gold Project, China
Date: 2005-09 (226 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Qinghan, China

Map View: View Tanjianshan gold mine on a Google Map.

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.32    638.34 K oz     3.590 g/t     6.15 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 90.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.70    823.74 K oz     3.070 g/t     9.27 M t    
Estimate notes: See Proven + Probable above.
Resource quantities adjusted for ownership percentage of 90.0%.
See Proven + Probable notes above.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.65    313.55 K oz     3.540 g/t     3.06 M t    
Estimate notes: See Proven + Probable above.
Resource quantities adjusted for ownership percentage of 90.0%.

Vila Nova    -  ^top^

(NI) 43-101 Report:

Title: Technical Report on the Vila Nova Iron Ore Project
Date: 2007-07-31 (89 pages)

Project Location: Amapa State, Brazil

White Mountain    -  ^top^

(NI) 43-101 Report:

Title:
Date: (0 pages)

Updates: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.

Project Location: Jilin, China

Most Optimistic Resource Estimates (MORE):

   •Proven + Probable
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$1.54    745.87 K oz     3.700 g/t     6.60 M t    
Estimate notes: Eldorado Gold Updates Mineral Resources and Reserves, January 28, 2010 web page viewed January 2010.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Measured + Indicated
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$2.09    1.01 M oz     3.100 g/t     10.70 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.
   •Inferred
MetalMVpShContained Metal QuantityOre GradeOre Quantity
   Gold$0.21    102.63 K oz     2.100 g/t     1.60 M t    
Estimate notes: See Proven + Probable note.
Resource quantities adjusted for ownership percentage of 95.0%.

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