EUROPEAN GOLDFIELDS LIMITED - DIRECTORS DEALINGS

WHITEHORSE, March 17 /CNW/ --
WHITEHORSE, March 17 /CNW/ - European Goldfields Limited (TSX / AIM: EGU) ('European Goldfields' or the 'Company') reports that on 16(th) March 2011 Martyn Konig, Executive Chairman and President of the
Company, purchased 20,000 ordinary shares in the Company at an average
price of C$ 11.5374.  Mr Konig's holding in the Company is now 474,457
ordinary shares.

The Company also reports that on 16(th) March 2011 Tim Morgan-Wynne, Executive Vice President and Chief
Financial Officer of the Company, purchased 25,000 ordinary shares in
the Company at an average price of C$ 11.5276. Mr Morgan-Wynne's
holding in the Company is now 256,689 ordinary shares.

The Company was notified of the share purchases on 17(th) March 2011. 

About European Goldfields 

European Goldfields is a developer-producer with globally significant
gold reserves located within the European Union. The Company generates
cash flow from its 95% owned Stratoni operation, a high grade
lead/zinc/silver mine in North-Eastern Greece. European Goldfields will
evolve into a mid tier producer through responsible development of its
project pipeline of gold and base metal deposits at Skouries and
Olympias in Greece and Certej in Romania. The Company plans future
growth through development of its highly prospective exploration
portfolio in Greece, Romania and Turkey.

For further information please see the Company's website at www.egoldfields.com

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