Eldorado Gold Corporation announced that first copper concentrate has been produced at the Company?s 100%-owned McIlvenna Bay Project in east-central Saskatchewan, Canada. This milestone represents a significant addition to Eldorado's already diversified portfolio and further strengthens the Company's Canadian operating platform. Wet commissioning of the McIlvenna Bay processing plant was completed recently, and following the commencement of hot commissioning, first copper concentrates were produced on June 7, 2026.

The operating team is now focused on ramp-up toward the nameplate capacity of 4,900 tonnes per day. Key activities during the ramp-up period include optimizing the flotation circuit and reagent addition performance, and completing the paste plant and associated underground infrastructure, such as the paste plant reticulation to support ongoing mine and plant production ramp-up. The Company expects to achieve commercial production at McIlvenna Bay in Third Quarter 2026.

Following the completion of the acquisition of Foran Mining Corporation on April 14, 2026, the Company is advancing a focused exploration and growth strategy at McIlvenna Bay, building on a strong operational and geological foundation. The Company has committed approximately $17 million of additional exploration spending on McIlvenna Bay and its wider mineral claims in 2026, reflecting the highly prospective, district-scale nature of the land package and the opportunity to further extend mine life and support further growth. The adjacent Tesla Zone, a high-grade polymetallic discovery located near existing infrastructure, represents a compelling longer-term expansion opportunity at McIlvenna Bay.

Beyond testing for copper-rich extensions at Tesla, the exploration team will be drilling the Bigstone deposit with the objective of expanding that resource, drilling several advanced and early-stage targets and undertaking large-scale airborne and target-scale geophysical surveys to identify new and refine known targets for future drill testing. In addition, the team will be undertaking various ore body characterization studies to support both exploration vectoring and future resource development. These have the potential to increase scale, extend mine life, and enhance the long-term value of the asset.

McIlvenna Bay is situated within a mineral-rich belt extending over 225 kilometres that has supported base metal production for over a century, underscoring the significant exploration potential across the broader district, much of which remains largely untested. McIlvenna Bay meaningfully diversifies Eldorado's asset base across both geography and commodity. The project provides the Company with significant copper exposure, adding a critical mineral in global demand to a portfolio that is well-balanced.

With operations spanning Canada, Greece, and Türkiye, the combined portfolio delivers jurisdictional diversification alongside attractive long-term cash flow generation. The Company's increased scale and enhanced Canadian exposure are expected to support a compelling valuation re-rate for shareholders.