Director Dealings

Suite 200, Financial Plaza

204 Lambert Street

Whitehorse, Yukon

Canada Y1A 3T2

DIRECTORS DEALINGS

18 March 2011 - European Goldfields Limited (TSX / AIM: EGU) ("European Goldfields" or the "Company") reports that on 16th March 2011, a company beneficially owned by Mrs. Alfred Vinton the wife of Mr. Alfred Vinton, a Non-Executive Director of the Company, purchased 15,000 shares in the Company at an average price of C$ 11.56822. Mr. Vinton, via Mrs. Vinton's holding, now has an indirect interest in the Company of 63,900 ordinary shares.

The Company was notified of the share purchase on 17th March 2011.

About European Goldfields

European Goldfields is a developer-producer with globally significant gold reserves located within the European Union. The Company generates cash flow from its 95% owned Stratoni operation, a high grade lead/zinc/silver mine in North-Eastern Greece. European Goldfields will evolve into a mid tier producer through responsible development of its project pipeline of gold and base metal deposits at Skouries and Olympias in Greece and Certej in Romania. The Company plans future growth through development of its highly prospective exploration portfolio in Greece, Romania and Turkey.

For further information please see the Company's website at www.egoldfields.com 

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