Historical Operating Results and Sustainability Framework
Notes on Mineral Reserves (cont'd)
Mineral Reserve Notes
Eldorado reports Mineral Reserves in accordance with CIM Definition Standards. Mineral Reserves for the operating sites (Efemcukuru, Kisladag, Olympias, and the Triangle Mine within the Lamaque Complex) were
determined using a long-term gold price of $1,400/oz while Mineral Reserves for the Skouries and Perama Hill projects were determined based on a $1,300/oz gold price. A reserve test is undertaken every year to
confirm future undiscounted cash flow from reserve mine plan is positive.
Long-Term Metal Price Assumptions
.
Gold price: $1,400/oz
Silver price: $19.00/oz
•
Copper price: $2.75/lb
•
Lead price: $2,000/t
.
Zinc price: $2,500/t
Cut-off Grades
.
Efemcukuru: $123.62/t NSR (long hole stoping), $126.60/t NSR (drift and fill); Kisladag: 0.17 g/t Au Recoverable; Lamaque (Triangle Mine): 5.06 g/t Au; Olympias: $217.63/t NSR; Perama Hill: 0.81 g/t Au;
Skouries: $10.60/t NSR (open pit), $33.33/t NSR (underground).
Qualified Persons: The following persons, all of whom are qualified persons under NI 43-101, are as follows:
Asset
Efem cukuru
Mining Type(s)
Underground
Qualified Person
Kisladag
Open Pit
Mike Tsafaras, P.Eng., Director, Underground Mine Planning
Herb Ley, SME-RM, Senior Project Manager
Lamaque Complex
Underground
Olympias
Skouries
Skouries
Perama Hill
Underground
Open Pit
Underground
Open Pit
Jessy Thelland, géo (OGQ No. 758)., Technical Services Director Lamaque
Victor Vdovin, P.Eng., Head of Technical Services, Kassandra
Victor Vdovin, P.Eng., Head of Technical Services, Kassandra
Mike Tsafaras, P.Eng., Director, Underground Mine Planning
Herb Ley, SME-RM, Senior Project Manager
eldorado gold
Company
Eldorado Gold
Stantec
Eldorado Gold
Eldorado Gold
Eldorado Gold
Eldorado Gold
Stantec
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