VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2012) -

(All figures in US dollars unless otherwise indicated)

Eldorado Gold Corporation (TSX:ELD)(NYSE:EGO) ("Eldorado", the "Company" or "We") today announced it has priced an offering of $600 million aggregate principal amount of 6.125% senior unsecured notes due 2020 (the "Notes"). The Company's offering benefited from a very positive market response, contributing to the decision to upsize from $500 million to $600 million.

"The successful completion of the Notes enhances our balance sheet and supports the Company plans to build out additional production," stated Paul Wright, Chief Executive Officer.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities law of any other jurisdiction. Accordingly, the Notes are being offered and sold inside the United States only to "qualified institutional buyers" as defined in, and in accordance with, Rule 144A under the Securities Act and outside the United States in accordance with Regulation S under the Securities Act. There are no registration rights associated with the Notes. Unless they are registered, the Notes may be offered only in transactions that are exempt from registration under the Securities Act and applicable state securities laws. In addition, in all cases, the Notes may only be offered and sold on a private placement basis pursuant to an exemption from the prospectus requirements of theSecurities Act(British Columbia) and, if applicable, securities laws in each of the other provinces and territories in Canada. Also, the Notes may only be offered and sold outside the United States (other than Canada) on a private placement basis pursuant to certain available prospectus exemptions under applicable securities laws.

This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful unless there is an exemption from prospectus, registration or similar requirements under applicable securities laws.

ON BEHALF OF ELDORADO GOLD CORPORATION

Paul N. Wright, Chief Executive Officer