EIS APPROVED NOTIFICATION OF Q2

29ite 200, Financial Plaza

204 Lambert Street

Whitehorse, Yukon

Canada Y1A 3T2

GREEK EIS APPROVAL

NOTIFICATION OF Q2 2011 RESULTS

4 August 2011 - European Goldfields Limited (AIM: EGU / TSX: EGU) ("European Goldfields" or the "Company") is pleased to announce that:

GREEK EIS APPROVAL

The Greek government has announced that the Joint Ministerial Decision has been delivered thereby formally approving the Environmental Impact Study ("EIS") submitted by the Company's 95%-owned subsidiary Hellas Gold SA for the development of the Company's Greek assets. This completes the official approval process for the EIS.

The notification issued by the Ministry of Environment, Energy and Climate Change can be accessed on the Greek government website, as follows:

http://et.diavgeia.gov.gr/f/ypeka/ada/4%CE%91%CE%A3%CE%940-%CE%A9%CE%940

Q2 2011 NOTIFICATION OF RESULTS

European Goldfields announces that it will publish its results for the second quarter ended 30 June 2011 on 12 August 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 

For further information please contact:

European Goldfields Liberum Capital Limited

Steve Sharpe, SVP Business Development Simon Atkinson

e-mail: [email protected] Tom Fyson

Tel: +44 (0)20 7408 9534 Tel: +44 (0)20 3100 2000

Brunswick Evolution Securities Limited

Carole Cable / Fiona Micallef-Eynaud Tim Redfern

e-mail: [email protected] Neil Elliott

Tel: +44 (0)20 7404 5959 Tel: +44 (0)20 7071 4300