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Re: 2008 - Friday, February 22, 2008
Eldorado Gold 2007 Mineral Reserves and Mineral Resources
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(all figures in United States dollars)

VANCOUVER, BC -- Paul N. Wright, President and Chief Executive Officer
of Eldorado Gold Corporation ('Eldorado" the "Company" or "we") is
pleased to announce the Company's Mineral Resources and Mineral
Reserves as of December 31, 2007 (Tables 1 and 2). Gold resource
ounces in all categories increased by 33% and proven and probable
reserve ounces increased by 13%. These increases are a direct result
of our successful drill campaigns at our Turkish projects of Kisladag
and Efem�ukuru. In addition, iron ore reserves at the Vila Nova Iron
Ore Project increased by 73%.

"We are extremely pleased with the results from our 2007 Drill
Programme. The increase in both Reserves and Resources at the Kisladag
Mine combined with clear indications of the potential to increase
further are very significant. These changes will result in a critical
review of the potential to further increase production rates at the
Kisladag Mine consistent with the growing resource and higher metal
prices," commented Paul N. Wright, President and Chief Executive
Officer.

Table 1: Eldorado Gold Mineral Resources, December 31, 2007

+---------------+-------------------+---------+---------+--------------+
| | Resource | | Grade | In-situ Gold |
| | Classification | | | ounces |
| | | | (Au g/t | |
| | | Tonnes |or Fe %) | (x1000) |
| Project | |(x1000) | | |
+---------------+-------------------+---------+---------+--------------+
| Gold | | | | |
+---------------+-------------------+---------+---------+--------------+
| Kisladag | Measured | 69,860 | 1.10 | 2,467 |
+---------------+-------------------+---------+---------+--------------+
| | Indicated | 185,530 | 0.89 | 5,284 |
+---------------+-------------------+---------+---------+--------------+
| | Measured+Indicated| | | 7,751 |
| | | 255,390 | 0.95 | |
+---------------+-------------------+---------+---------+--------------+
| | Inferred | 140,510 | 0.74 | 3,346 |
+---------------+-------------------+---------+---------+--------------+
| Tanjianshan | Measured | 6,265 | 3.56 | 718 |
+---------------+-------------------+---------+---------+--------------+
| | Indicated | 4,725 | 3.29 | 499 |
+---------------+-------------------+---------+---------+--------------+
| | Measured+Indicated| | | 1,217 |
| | | 10,990 | 3.44 | |
+---------------+-------------------+---------+---------+--------------+
| | Inferred | 1,693 | 2.69 | 146 |
+---------------+-------------------+---------+---------+--------------+
| Efem�ukuru | Measured | 1,150 | 14.07 | 520 |
+---------------+-------------------+---------+---------+--------------+
| | Indicated | 2,937 | 9.81 | 927 |
+---------------+-------------------+---------+---------+--------------+
| | Measured+Indicated| | | 1,447 |
| | | 4,087 | 11.01 | |
+---------------+-------------------+---------+---------+--------------+
| | Inferred | 891 | 8.32 | 239 |
+---------------+-------------------+---------+---------+--------------+
| Total | Measured | 77,275 | 1.49 | 3,705 |
+---------------+-------------------+---------+---------+--------------+
| | Indicated | 193,192 | 1.08 | 6,710 |
+---------------+-------------------+---------+---------+--------------+
| | Measured+Indicated| | | 10,415 |
| | | 270,467 | 1.20 | |
+---------------+-------------------+---------+---------+--------------+
| | Inferred | 143,094 | 0.81 | 3,731 |
+---------------+-------------------+---------+---------+--------------+
| Iron | | | | |
+---------------+-------------------+---------+---------+--------------+
| Vila Nova | Measured | 2,285 | 63.5 | |
+---------------+-------------------+---------+---------+--------------+
| | Indicated | 7,679 | 61.0 | |
+---------------+-------------------+---------+---------+--------------+
| | Measured+Indicated| | | |
| | | 9,964 | 61.6 | |
+---------------+-------------------+---------+---------+--------------+
| | Inferred | 2,022 | 61.2 | |
+---------------+-------------------+---------+---------+--------------+
Notes:

1) Gold price used was $600/oz.
2) Cut-off grades (gold g/t): Kisladag: 0.4 g/t; Tanjianshan: 1.0 g/t;
Efemcukuru: 3.0 g/t
3) Qualified Person: Stephen Juras, Ph.D., P.Geo. and Manager, Geology
of the Company is responsible for all of the mineral resource
estimates

Table 2: Eldorado Gold Mineral Reserves, December 31, 2007

+---------------+---------------+---------+----------+---------------+
| | Reserve | | Grade | In-situ Gold |
| |Classification | | | ounces |
| | | Tonnes | (Au g/t | |
| Project | |(x1000) |or Fe %) | (x1000) |
+---------------+---------------+---------+----------+---------------+
| Gold | | | | |
+---------------+---------------+---------+----------+---------------+
| Kisladag | Proven | 67,930 | 1.11 | 2,424 |
+---------------+---------------+---------+----------+---------------+
| | Probable | 85,400 | 1.12 | 3,076 |
+---------------+---------------+---------+----------+---------------+
| | Proven + | | | 5,500 |
| | Probable | 153,330 | 1.12 | |
+---------------+---------------+---------+----------+---------------+
| Tanjianshan | Proven | 5,020 | 3.88 | 626 |
+---------------+---------------+---------+----------+---------------+
| | Probable | 2,322 | 4.13 | 308 |
+---------------+---------------+---------+----------+---------------+
| | Proven + | | | 934 |
| | Probable | 7,342 | 3.96 | |
+---------------+---------------+---------+----------+---------------+
| Efem�ukuru | Proven | 1,320 | 11.89 | 505 |
+---------------+---------------+---------+----------+---------------+
| | Probable | 2,465 | 9.04 | 716 |
+---------------+---------------+---------+----------+---------------+
| | Proven + | | | 1,221 |
| | Probable | 3,785 | 10.04 | |
+---------------+---------------+---------+----------+---------------+
| Total | Proven | 74,270 | 1.49 | 3,555 |
+---------------+---------------+---------+----------+---------------+
| | Probable | 90,187 | 1.41 | 4,100 |
+---------------+---------------+---------+----------+---------------+
| | Proven + | | | 7,655 |
| | Probable | 164,457 | 1.45 | |
+---------------+---------------+---------+----------+---------------+
| Iron | | | | |
+---------------+---------------+---------+----------+---------------+
| Vila Nova | Proven | 2,285 | 63.5 | |
+---------------+---------------+---------+----------+---------------+
| | Probable | 6,987 | 60.2 | |
+---------------+---------------+---------+----------+---------------+
| | Proven + | | | |
| | Probable | 9,272 | 61.0 | |
+---------------+---------------+---------+----------+---------------+
Notes:

1) Gold price used was $600/oz.

2) Cut-off grades (gold g/t): Kisladag: 0.35 g/t oxide, 0.50 g/t
sulphide; Tanjianshan: 1.3 g/t QLT and JLG oxide, 1.64 g/t JLG
sulphide; Efemcukuru: 4.5 g/t
3) Qualified Persons: Norm Pitcher, P.Geo. and Chief Operating Officer
of the Company is responsible for the Kisladag and Tanjianshan
reserves; Andy Nichols, P.Eng., Chief Mining Engineer of Wardrop
Engineering is responsible for the Efemcukuru reserves; Roberto
Costa, principal of Roberto Costa Engenharia Ltda, is responsible
for the Vila Nova reserves.
4) The Mineral Reserves are inclusive to the Mineral Resources.

Kisladag

Our 2007 infill drill program, totalling 11,925m in 36 holes,
discovered new areas of gold mineralization, including a new high grade
deep zone. The drilling focussed on insufficiently tested areas of the
deposit, mainly to the west and south. Many holes drilled in this
region ended in gold mineralization, leaving the deposit still open to
the west and southwest, and at depth. Much of this new mineralization
lies in the Inferred resource category and will be the focus of future
drill programs.

The impact of the newly discovered gold mineralization was analyzed by
running open pit scenarios at various gold prices, incorporating all
mineral resource categories. The economic pit outline corresponding to
a gold price of $850 markedly expanded to incorporate most of the new
resources. These findings validate the inclusion of these blocks in
the mineral resource category and demonstrates the growth potential of
the Kisladag mine.

Tanjianshan

Tanjianshan mineral reserves and resources reside in our Qinlongtan
(QLT) and Jinlonggou (JLG) deposits. Production during 2007 came from
QLT and during 2008 will be from QLT and JLG.

Drilling at QLT during 2007 was limited due to mining activity; we will
continue targeting the on-strike and down dip extensions of the orebody
in 2008.

Drilling at JLG was successful in discovering a new zone, JLG North.
However, more drilling and a better understanding of the structural
geology will be required to enable this area to contribute to future
resources and reserves additions.

Efem�ukuru

The Efem�ukuru Project reserves and resources are those described in
the recently completed feasibility study (Eldorado Gold press release
ELD No. 07-15) and NI 43-101 Technical Report. The project resources
include a small addition resulting from an initial resource calculation
on the North Ore Shoot completed since disclosing the feasibility
study. This resource addition was not incorporated into the Efem�ukuru
mine plan. Data from completed drilling on the South and Main Ore
Shoots since the estimation of the feasibility resources and reserves
are being used to developed detailed geologic and structural models
ahead of an update. The newer data are located within the bounds of
the mineralization defined in the feasibility study and will likely
convert some of the Inferred resources to Indicated resources, and
upgrade the amount of Measured resources and Proven reserves.

Vila Nova Iron Ore Project

The Vila Nova Iron Ore Project reserve and resources are those
described in the recently completed pre-feasibility study (Eldorado
Gold press release ELD No. 07-14) and subsequently filed NI 43-101
Technical Report. The noted change in reserves from 2006 is primarily
the result of using a 35% higher price for finished product FOB Santana
Port ($54/tonne versus $40/tonne in 2006).


Technical Parameters for Resource and Reserve Calculation

Kisladag

The 2007 resource model used these data and grade control blast hole
and pit mapping information to revise the contacts between the various
intrusive units and against the hosting volcanic rocks, and to generate
an updated gold mineralized shell (~0.25 g/t Au). Grade interpolation
estimated gold by ordinary kriging using 3m composited assay data.
Gold grades were not capped. Resource classification into Measured,
Indicated and Inferred categories generally followed a distance to
composite protocol. Measured resources were assigned to blocks that
used data from at least 3 different holes, all within 50m. Indicated
resources required used of data from at least 2 different holes within
80m of a model block. Remaining interpolated blocks were set as
Inferred resources.

The reserves were calculated using a gold price of $600/oz. Mining
dilution and ore loss factors were built into the resource model.
Existing feasibility parameters for metallurgical recoveries (81
percent oxide and 60 percent sulphide) were maintained. Pit slopes of
~48� were used. Ore production was set as 10 Mt per annum with an
overall stripping ratio of 0.96:1. Mine life is presently projected to
be 15 years.

Tanjianshan

The QLT resource model essentially was a blast hole model. Data were
used to define a 0.7 g/t gold mineralized shell to constrain the
interpolation. Grade interpolation estimated gold by ordinary kriging
using 5m composited assay data. Gold grades above 11 g/t were
restricted in use beyond a distance of 30m. Blocks estimated primarily
by blast hole data were set as Measured resources; Indicated resources
required data from at least 2 unique data sources, no more than 40m
along strike or 20m down dip of a model block. Remaining interpolated
blocks were set as Inferred resources.

Modelling at JLG incorporated new data from 196 reverse circulation
(RC) holes drilled on a 10m by 10m pattern over a portion of the
uppermost portion of the deposit. Results better defined the steeply
dipping, structural controlled type of mineralization. Mineralized
zones are of higher grade but narrower than previously interpreted from
drill holes. A few of the RC holes also penetrated into the lower,
flat lying, diorite hosted mineralization. The upper contact to this
mineralization is commonly a shallow dipping thrust fault. The
existing interpreted position was found to be 10 to 30m high in places,
necessitating a major re-interpretation of this key mineralization
bounding feature. New mineralized gold shells (~0.7 g/t) were created
to accommodate the RC data and implied patterns, and the new thrust
fault interpretation. The resulting geology model realized an overall
volume decrease in the mineralized shells associated to the lower
domain relative to 2006.

Grade interpolation estimated gold values by ordinary kriging using 2m
composited assay data. Gold grades were capped to 20 g/t in the
steeply dipping upper domain and 35 g/t in the flat lying lower domain.
Resource classification into Measured, Indicated and Inferred
categories generally followed a distance to composite protocol.
Measured resources were assigned to blocks that used data from at least
3 different holes, all within 30m. Indicated resources required used
of data from at least 2 different holes within 50m of a model block.
Remaining interpolated blocks were set as Inferred resources.

The reserves for QLT were based on the existing final open pit design
shape. A mining dilution of 15 percent was used with no ore loss,
based on prior history. A cut-off grade of 1.3 g/t was used, which
reflects current gold prices and processing costs. The open pit
resource for QLT is expected to be depleted in 2008.

The JLG reserves were calculated using a gold price of $600/oz. 3
percent mining dilution and 3 percent ore loss factors were added.
Metallurgical recovery of 88.6 percent was assumed and pit slopes of
~48� were used. Ore production was set as 800 Kt per annum with an
overall stripping ratio of 3.40:1. Mine life is presently projected to
be 9 years.

Eldorado is a gold producing and exploration company actively growing
businesses in Brazil, Turkey and China. 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"
Paul N. Wright
President & Chief Executive Officer


The terms "Mineral Reserve", "Proven Mineral Reserve" and "Probable
Mineral Reserve" used in this release are Canadian mining terms as
defined in accordance with National Instrument 43-101 -- Standards of
Disclosure for Mineral Projects under the guidelines set out in the
Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM")
Standards on Mineral Resources and Mineral Reserves, adopted by the CIM
Council on August 20, 2000 as may be amended from time to time by the
CIM. These definitions differ from the definitions in the United
States Securities & Exchange Commission ("SEC") Guide 7. In the United
States, a mineral reserve is defined as a part of a mineral deposit
which could be economically and legally extracted or produced at the
time the mineral reserve determination is made.

The terms "Mineral Resource", "Measured Mineral Resource", "Indicated
Mineral Resource", "Inferred Mineral Resource" used in this release are
Canadian mining terms as defined in accordance with National
Instruction 43-101 -- Standards of Disclosure for Mineral Projects
under the guidelines set out in the CIM Standards. Mineral Resources
which are not Mineral Reserves do not have demonstrated economic
viability.

For a detailed discussion of resource and reserve estimates and related
matters see the Company's reports, including the Annual Information
Form and FORM 40-F dated March 29, 2007 and technical reports filed
under the Company's name at www.sedar.com.

Note to U.S. Investors. While the terms "mineral resource", "measured
mineral resource," "indicated mineral resource", and "inferred mineral
resource" are recognized and required by Canadian regulations, they are
not defined terms under standards in the United States and normally are
not permitted to be used in reports and registration statements filed
with the SEC. As such, information contained in this report concerning
descriptions of mineralization and resources under Canadian standards
may not be comparable to similar information made public by U.S
companies in SEC filings. With respect to "indicated mineral resource"
and "inferred mineral resource" there is a great amount of uncertainty
as to their existence and a great uncertainty as to their economic and
legal feasibility. It can not be assumed that all or any part of an
"indicated mineral resource" or "inferred mineral resource" will ever
be upgraded to a higher category. Investors are cautioned not to
assume that any part or all of mineral deposits in these categories
will ever be converted into reserves.

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 forward looking
statements or information within the meaning of the Securities Act
(Ontario) . Such forward looking statements or information include,
but are not limited to statements or information with respect to
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements or information
are subject to a variety of risks and uncertainties, which could cause
actual events, or results to differ from those reflected in the
forward-looking statements or information. Should one or more of these
risks and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
described in forward looking statements. Specific reference is made to
"Forward Looking Statements and Risk Factors" in the Company's Annual
Information Form and Form 40-F dated March 29, 2007. Forward-looking
statements herein include statements regarding the expectations and
beliefs of management. Such factors included, amongst others the
following: gold price volatility; impact of any hedging activities,
including margin limits and margin calls; discrepancies between actual
and estimated production, between actual and estimated reserves, and
between actual and estimated metallurgical recoveries; mining
operational risk; regulatory restrictions, including environmental
regulatory restrictions and liability; risks of sovereign investment;
speculative nature of gold exploration; 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
section entitled "Risk Factors" in the Company's Annual Information
Form and Form 40-F dated March 29, 2007. We do not expect to update
forward-looking statements 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 shares trade on the Toronto Stock Exchange
(TSX: ELD) and the American Stock Exchange (AMEX: EGO). The TSX has
neither approved nor disapproved the form or content of this release.

Contact:

Nancy E. Woo, Manager Investor Relations
Phone: 604.601.6650 or 1.888.353.8166
Fax: 604.687.4026
Email nancyw@eldoradogold.com


Eldorado Gold Corporation
1188, 550 Burrard Street
Vancouver, BC V6C 2B5
Web site: www.eldoradogold.com

Request for information packages: info@eldoradogold.com

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Copyright (c) 2008 ELDORADO GOLD CORP. (ELD) All rights reserved. For
more information visit our website at http://www.eldoradogold.com/ or
send mailto:info@eldoradogold.com
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