Public Consultation Underway For Greek EIS

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PUBLIC CONSULTATION UNDERWAY FOR GREEK EIS

8 November 2010 - European Goldfields Limited (AIM: EGU / TSX: EGU) ("European Goldfields" or the "Company") is pleased to announce that another milestone has been reached in the permitting process for its Project in Greece.

The Environmental Impact Study ("EIS") submitted by the Company's 95%-owned subsidiary Hellas Gold SA for the development of the Project has now been reviewed by the Greek Ministry of Environment Energy and Climate Change ("MOE"). The MOE has delivered the EIS to the local authorities in Halkidiki, in North-Eastern Greece and notices were issued in local newspapers on October 30th thereby initiating the process of public consultation.

The Project consists of:

Α. Continuation of operations at the Mavres Petres deposit of the Stratoni Mine.

Β. The next stages of the Olympias project, namely the mining and processing of ore and

metallurgical treatment of the concentrate, in accordance with the business plan as originally

submitted.

C. The development of mining and processing at the Skouries project and of

D. The port facilities at Stratoni in service of the above projects' operations.

The MOE acting through a Special Technical Committee has reviewed the EIS in detail and provided important guidance to Hellas Gold in concluding that the EIS conforms to relevant Greek and EU requirements.

Public Consultation will last for 35 days from 30th of October thereby both allowing local stakeholders and potentially affected communities to offer their comments and any further views to be communicated to the Special Technical Committee as part of the conclusion of the environmental permitting process for the Project.

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 new website at www.egoldfields.com 

For further information please contact:

European Goldfields Liberum Capital Limited

Steve Sharpe, VP 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 Rob Collins

e-mail: [email protected] Tim Redfern

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