Eldorado Amends Agreement to Acquire Gold Fields' Stake in Sino Gold

VANCOUVER, BRITISH COLUMBIA, Jul 14 (MARKET WIRE) --
Paul N. Wright, President and Chief Executive Officer of Eldorado Gold
Corporation ("Eldorado", the "Company", or "we") (TSX: ELD)(NYSE Amex:
EGO) is pleased to announce that Eldorado has amended its agreement with
Gold Fields Australasia (BVI) Limited ("Gold Fields") whereby Eldorado
will acquire 57.9 million shares of Sino Gold Mining Limited ("Sino
Gold") (representing approximately 19.9% of the issued and outstanding
shares of Sino Gold) in exchange for 27,824,654 shares of Eldorado,
subject to certain adjustments (the "Gold Fields Transaction"). The
amendment provides for a filing of a prospectus solely in respect of the
Gold Fields Transaction, for closing of the Gold Fields Transaction and
extends the date of closing prior to the end of July 2009. A receipt for
the preliminary prospectus has been issued. The closing of the Gold
Fields Transaction remains subject to certain conditions.

Sino Gold is an Australian public company focused on the exploration and
production of gold in China and is listed on the Australian Stock
Exchange and Hong Kong Stock Exchange. It has two operating mines,
Jinfeng and White Mountain.

Eldorado is a gold producing, exploration and development company
actively growing businesses in Brazil, China, Greece, and Turkey and
surrounding regions. We are one of the lowest cost pure gold producers.
With our international expertise in mining, finance and project
development, together with highly skilled and dedicated staff, we believe
that Eldorado is well positioned to grow in value as we create and pursue
new opportunities.

ON BEHALF OF ELDORADO GOLD CORPORATION

Paul N. Wright, President and Chief Executive Officer

Certain of the statements made herein may contain forward-looking
statements or information within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws. Such forward-looking statements or information include,
but are not limited to statements or information with respect to the
transaction. Forward-looking statements and forward-looking information
by their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed
or implied by such forward-looking statements or information. We have
made certain assumptions about the forward-looking statements and
information and even though our management believes that the assumptions
made and the expectations represented by such statements or information
are reasonable, there can be no assurance that the forward-looking
statements or information will prove to be accurate. Furthermore, should
one or more of the risks, uncertainties or other factors materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements or
information. These risks, uncertainties and other factors included,
amongst others, the following: the completion of the transaction being
subject to the satisfaction of certain closing conditions and that the
number of shares to be acquired or issued are subject to certain
adjustments; gold price volatility; discrepancies between actual and
estimated production, reserves, and metallurgical recoveries; mining
operational risk; litigation risks; regulatory restrictions, including
environmental regulatory restrictions and liability; risks of sovereign
investment; currency fluctuations; speculative nature of gold
exploration; global economic climate; dilution; competition; loss of key
employees; additional funding requirements; and defective title to
mineral claims or property, as well as those factors discussed in the
sections entitled "Forward-Looking Statements" and "Risk Factors" in the
Company's Annual Information Form and Form 40-F dated March 31, 2009.

There can be no assurance that forward-looking statements or information
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
you should not place undue reliance on the forward-looking statements or
information contained herein. Except as required by law, we do not expect
to update forward-looking statements and information continually as
conditions change and you are referred to the full discussion of the
Company's business contained in the Company's reports filed with the
securities regulatory authorities in Canada and the U.S.

Eldorado Gold Corporation's common shares trade on the Toronto Stock
Exchange (TSX: ELD) and the NYSE-Amex US (NYSE Amex: EGO).

Request for information packages: laurelw@eldoradogold.com

Contacts:
Eldorado Gold Corporation
Nancy Woo
VP Investor Relations
604.601.6650 or 1.888.353.8166
604.687.4026 (FAX)
nancyw@eldoradogold.com
www.eldoradogold.com

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