1. Finex ’08 Patrick Forward ~ GM Exploration Developing And Expanding In The Tethyan Belt

2. Polymetallic projects: Gold – Copper – Zinc – Lead – Silver Reserves of 9.8Moz gold Profitable production Cash: US$201M No Debt Shares: TSX/AIM “EGU” –In S&P/TSX Global Gold Index –179.4M shares out (183.7M diluted) 2 EGU AT A GLANCE

3. 3 RESERVE & RESOURCE GROWTH Gold (Moz)Silver (Moz)Lead & Zinc (Kt)Copper (Kt) Total Reserves9.878.01,600800 Attributable Reserves9.172.31,550750 Total Resources12.087.318001000 Attributable Resources11.080.81700990 Gold Reserves (Moz)Gold Equivalent Resources (Moz) 2004200720042007 * Including gold-equivalent ounces assuming prices of US$550/oz gold, US$10/oz silver, US$1.15/lb copper, US$0.60/lb zinc and US$0.60/lb lead 10 0 20 15 10 5 0 25 5

4. 4 OVERVIEW OF ASSETS *All measured & indicated resources **Subject to sale of payable silver to Silver Wheaton Greece 95% interest * Stratoni 0.4 Mt Lead + Zinc 12.9 Moz** Silver In production Skouries 5.0 Moz Gold 1.0 Mt Copper Feasibility project Olympias 4.4 Moz Gold 1.4 Mt Lead + Zinc 60.1 Moz Silver Previously mined Existing infrastructure Romania 80% interest * Certej 2.6 Moz Gold 14.3 Moz Silver Existing open pit ROMANIA GREECE Bulgaria Turkey Hungary Austria Ionian Sea AdriaticSea

5. DELIVERY OF VALUE THROUGH GROWTH 5 2005201120062007200820092010 Certej permits Greek permits Olympias in production Certej in production Skouries in production Certej feasibility Certej mining permit Greek PEIS Refurbish Olympias plant Raised US$180M in cash Increased HG stake to 95% Skouries feasibility complete Secured long lead items Skouries & Olympias BuP submitted First net earnings Increase Skouries reserve Stratoni mining permit awarded Resource to reserve co.

6. 6 GOLD & BASE METAL CENTRE Stratoni Mavres Petres Madem Lakkos Olympias mine Skouries Towns Roads N 10km

7. STRATONI MINE High grade zinc-lead-silver mine in ramp up to full capacity Mine infrastructure significantly improved Production ; Costs Plant at full capacity May/June Future production growth planned of 37% Reserves: 2.2Mt @ 9.4% Zn, 7.3% Pb and 193g/t Ag = 0.37Mt Pb & Zn and 13.7Moz Ag 7 Production profile ROMCash cost +15% +26% -9% -6%

8. 88 STRATONI: ADDING TO LIFE OF MINE Mavres Petres Orebody 1.5kmHole Intercept (m) Pb (%) Zn (%) Ag (g/t) SDD1513.74.514.7135 SDD1040-19.59.814.8194 SDD1040-23.74.88.194 SDD1050-13.64.38.393 SDD1050-20.854.535.5101 SDD1050-37.26.010.6118 SDD1050-41.79.417.8132 SDD1050-74.721.723.9397 SDD1050-111.25.811.3110 Hole Intercept (m) Pb (%) Zn (%) Ag (g/t) MP623/628 182.79.773 MP623/628 145.410.6135 MP624/628 2187.09.3179 MP626/628 4166.310.3179 MP627/628 585.73.8165 Drill results from eastern inferred Drill results from western inferred

9. 9 OLYMPIAS RE-OPENING Similar to Stratoni + gold Significant existing infrastructure Phased development Open down plunge – significant upside along structural corridor Reserves: 14.1Mt @ 8.6g/t Au, 120g/t Ag, 3.9% Pb and 5.2% Zn = 3.9Moz Au, 54Moz Ag and 1.3Mt Pb & Zn Known Ore Deposits Biotite Gneiss Marble Amphibolite Gneiss Schists Targets Faults Shaft Existing development Drillholes

10. MASSIVE SULPHIDE MODEL 10 STRATONI FAULT Madem Lakkos Olympias FOOTWALL COLLAPSE Mavres Petres Piavitsa UPLIFT OF FOOTWALL BLOCK Mineralising fluids Deformation led to thickening of host marbles Uplifted block has undergone footwall collapse Bounding faults channelled mineralising fluids i.e. Stratoni Fault Model links all massive sulphide occurrences

11. PIAVITSA EM EXTENDS ZONE 11 NW Splay from EM Extension from EM Mineralised zone from drilling Previous limited drilling and mapping outlined a 2km strike length Airborne EM shows conductors over 6km strike EM highlights NW Splay 5.5m @ 4.0g/t Au 9m @ 2.7% Zn and 1% Pb 10.9m @ 7.9g/t Au 7.9m @ 6.6% Pb and 15.8% Zn 8.4m @ 8.9g/t Au 6.4m @ 3.2% Pb and 9.9% Zn Marble Schist Surface level 050m AB Ore Amphibolite schist A B N

12. GEOLOGICAL MODEL 12

13. SKOURIES PROJECT Au-Cu porphyry pipe Open pit strip ratio 0.6 Permitting in progress Capex: US$300m Co-product cash cost: US$250-300/oz Au Production: ±200 Koz pa Au; ±40 Kt pa Cu Reserves: 146Mt @ 0.8g/t Au and 0.5% Cu = 3.9Moz Au and 800Kt Cu 13 0 100 200 Metres Gold grade profile >1.5 g/t 1 - 1.5 g/t < 0.7g/t 0.7 - 1 g/t 0 100 200 Metres Copper grade profile >1.2% 0.8 - 1.2% 0.2 - 0.4% 0.4 - 0.8% Proposed layout

14. SKOURIES DEVELOPMENT PLAN Simple metallurgy 8Mtpa operation from open pit 7Mtpa operation from underground Long lead items ordered Design engineers selected Expecting final PEIS 14 Production profile Au (Koz)Cu (t) Ball Mill

15. 15 EXPLORATION UPSIDE IN GREECE 20 targets identified from previous work New airborne geophysics completed Modelled magnetics defines intrusive belt Ongoing processing will prioritise targets ZONES OF MASSIVE SULPHIDES OLYMPIAS INTRUSIVE CORRIDOR PIAVITSA FISOKA SKOURIES Quaternary Marbles Gneiss Amphibolite Gneiss Mica Schist Triassic Metasediments Intrusives Permit Boundary Mine extensions Follow-up targets Conceptual targets

16. 16 AIRBORNE GEOPHYSICS MAGNETICS - REDUCED TO POLE Intrusive belt Potential complex Skouries N 0 2km Permit boundary Faults Major Faults Deposits Targets Fisoka

17. 17 FISOKA Northern porphyry – drillholes shown Magnetic signature over Fisoka Northern porphyry only drilled:- 20 to 81m at 0.40 to 0.65% Cu Anomalous Cu in streams drains off central porphyry Magnetic’s indicate potassic cores under central and southern porphyry Cu-oxides and intense veining in outcrop on central porphyry Biggest potential in central and southern porphyries – exciting targets, yet to be drill tested Stream Sediments (ppm) 300 to 2,480 60 to 300 20 to 60 0 to 20 Drillhole Porphyry 0m 500 Untested central and southern porphyry Copper oxides High vein density

18. GEOPHYSICS UNDERLINES PORPHYRY POTENTIAL 18 Magnetics Highlights 17 x 6 km porphyry belt Porphyry complex coalesces at depthFisoka shows two untested cores 3km 5km Skouries porphyry 3D model defines two major targets Skouries porphyry Intrusive complex Fisoka

19. 19 ROMANIA – CERTEJ DEPOSIT Gold mining over 2000 years has produced 40Moz Excellent mining infrastructure and skills base 4 contiguous licenses covering 130km² 2.61Moz Au Certej deposit Ore body well defined Metallurgy understood Pursuing new opportunities N

20. 20 CERTEJ RESOURCES AND RESERVES 199 m 2.8 g/t including 43 m @ 6.5 g/t 240 m @ 2.6 g/t including 8 m @ 6 g/t and 14 m @ 5.91 g/t 191 m @ 2.7 g/t including 10 m @ 4.3 g/t and 16 m @ 6.6 g/t 134 m @ 3.1 g/t including 22 m @ 4.5 g/t and 30 m @ 4.9 g/t 74 m @ 4.6 g/t including 40 m @ 6.8 g/t Colour Coding for Au g/t 1 to 1.5 1.5 to 2 >= 2 0m100 Tonnes Mt Au g/t Ag g/t Au Moz Ag Moz Measured & Indicated Resources 41.52.0112.614.3 Resources at 0.8g/t cut-off, reserves from optimised pit at $425 Au AND $7 Ag

21. DEFINITIVE FEASIBILITY STUDY 21 Project Summary Reserves 32.8 Mt @ 2.0g/t Au 11.4g/t Ag Strip ratio3.1:1 Base Life of Mine11.2 years @ 3mtpa Overall recoveries81% Au, 74% Ag Production rate (oz) Au Ag Yrs 1-3 172,000 720,000 LOM 156,000 814,000 Initial Capex€136.5M Cash costUS$353/oz * Post tax IRR20.3% * Net of by-product credits Alternative layout for tailings FLOTATION TMF ALBION TMF PLANT SITE Proposed Road (Surveyed) OPEN PIT Dump

22. 22 REGIONAL POTENTIAL European Goldfields concessions Brad deposits Deva porphyry Areas of regional potential 010km

23. 23 TURKISH JOINT VENTURE Existing Ariana licences EGU holds 51% of JV + operatorship Earn in to 80-90% of all projects Known Au-Cu porphyry target at Ardala Extension of mineral belts from Balkans

24. 24 EUROPEAN GROWTH POTENTIAL Hellas Gold 12Moz Au, 1Mt Cu, 1.8Mt Pb-Zn Sappes 0.8Moz Au Perama Hill 1.4Moz Au Ada Tepe 0.8Moz Au Kisladag 7Moz Au Copler 3.8Moz Au Cayeli 1Mt Zn Chelopech 3.2 Moz Au Rosia Montana 14.6Moz Au Certej 2.6Moz Au EGU/Ariana JV TURKEY – ARDALA PROJECT Heads of Agreement signed for JV 0.3% Cu 0.5g/t Au porphyry body centred on 1 x 1km magnetic anomaly Limited drilling, numerous geophysical targets Other Cu-Au anomalies on properties in proposed JV

25. 25 NOTICES & DISCLAIMER IMPORTANT NOTICE The information in this document is subject to updating, revision and amendment. This document neither constitutes nor forms nor should be constructed as constituting or forming part of any offer or invitation to sell or any solicitation of any offer to purchase or to subscribe for any securities in European Goldfields Limited (the “Company”) or any other body corporate or an invitation or inducement to engage in investment activity under section 21 of the UK Financial Services and Markets Act 2000 nor shall it or any part of it form the basis of or be relied on in connection with any contract therefore. This document does not constitute an invitation to effect any transaction with the Company nor to make use of any services provided by the Company. No reliance may be placed for any purpose whatsoever on the information contained in this document nor on assumptions made as to it completeness. No representation or warranty, express or implied, is given by the Company, any of its subsidiaries or any of its respective advisers, directors, officers, employees or agents, as to the accuracy, fairness or completeness of the information or opinions contained or expressed in this document and no liability is accepted for any such information or opinions (which should not be relied upon) or for any loss howsoever arising, directly or indirectly, from any use of this document or its contents or information and opinions contained in this document. The information and opinions contained in this document are provided as the date of this document and are subject to change without notice. This document has been prepared incompliance with English law and English courts will have exclusive jurisdiction over any disputes arising from or connected with this document. FORWARD-LOOKING STATEMENTS Certain statements and information contained in this document, including any information as to the Company’s future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute forward-looking information under provisions of Canadian provincial securities laws. When used in this document, the words “anticipate”, "expect", "will", "intend", "estimate", “forecast”, “planned” and similar expressions are intended to identify forward-looking statements or information. Forward-looking statements include, but are not limited to, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs and timing of development of new deposits, permitting time lines and expectations regarding metal recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of the Company to be materially different from its estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the price of gold, base metals or certain other commodities (such as fuel and electricity) and currencies; uncertainty of mineral reserves, resources, grades and recovery estimates; uncertainty of future production, capital expenditures and other costs; currency fluctuations; financing and additional capital requirements; the successful and timely permitting of the Company’s Skouries, Olympias and Certej projects; legislative, political, social or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; the speculative nature of gold and base metals exploration and development, including the risks of diminishing quantities or grades of reserves; the risks normally involved in the exploration, development and mining business; and risks associated with internal control over financial reporting. For a more detailed discussion of such risks and material factors or assumptions underlying these forward-looking statements, see the Company’s Annual Information Form for the year ended 31 December 2006, filed on SEDAR at www.sedar.com. The Company does not intend, and does not assume any obligation, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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