EGU.L Regulatory News (EGU)

20 May 2008 16:18



Cameron Mingay Appointed as Non-executive Director

European Goldfields Limited (TSX / AIM: EGU) (the "Company") is pleased to announce the appointment of Cameron Mingay as a non-executive director of the Company.

Cameron Mingay, aged 56, is a senior partner in the Cassels Brock & Blackwell LLP, Securities Group. Cam's diverse practice covers the areas of securities, corporate, mergers, acquisitions and divestitures, and natural resource law. He has extensive experience in representing companies and investment dealers in all manner of public and private corporate finance transactions. He acts as lead counsel for a number of public clients and he serves as counsel to a number of investment dealers on corporate finance matters. He is also a director of Silver Bear Resources Inc and Allied Nevada Gold Corporation. Up until 2004, he was a director of Kinross Gold Corporation. His recent achievements include:

The Best Lawyers in Canada 2006/2007 and 2008 (Natural Resources Law) 

Martindale-Hubbell, BV rating 

Canadian Legal Lexpert Directory 2005

Commenting on the appointment, David Reading, Chief Executive Officer of European Goldfields, said: "We are delighted to welcome Cam to our team. His credentials and knowledge in the resource sector make him a strong addition to our board. Cam's reputation and legal experience in Canada will be a great asset in our future development."

Concurrently with his appointment, the Company granted to Cameron Arthur Mingay an option to purchase 250,000 common shares of the Company pursuant to its share option plan. The option expires in March 2013 and is exercisable, in whole or in part, at a price of C$5.07 per share. The option vests in three equal tranches over a three-year period. Mr. Mingay does not hold any common shares of the Company. There are no other matters under paragraph (g) of Schedule 2 of the AIM rules to be disclosed.

About European Goldfields

European Goldfields is a resource company involved in the acquisition, exploration and development of mineral properties in Greece, Romania and South-East Europe.

Greece - European Goldfields holds a 65% interest in Hellas Gold S.A. Hellas Gold owns three major gold and base metal deposits in Northern Greece. The deposits are the polymetallic projects of Stratoni, the Olympias project which contains gold, zinc, lead and silver, and the Skouries copper/gold porphyry project. Hellas Gold commenced production at Stratoni in September 2005 and commenced selling an existing stockpile of gold concentrates from Olympias in July 2006. Hellas Gold is applying for permits to develop the Skouries and Olympias projects.

Romania - European Goldfields owns 80% of the Certej gold/silver project in Romania. European Goldfields submitted in March 2007 a technical feasibility study to the Romanian government, in support of a permit application to develop the project. In March 2008, European Goldfields submitted the Environmental Impact Study to the Romanian environmental authorities to start the assessment of the environmental impact of the Certej Project.

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