Greek EIS Approval; Notification of Q2 2011 Results

WHITEHORSE, Aug. 4, 2011 /CNW/ --
WHITEHORSE, Aug. 4, 2011 /CNW/ - European Goldfields Limited (AIM: EGU /
TSX: EGU) ('European Goldfields' or the 'Company') is pleased to
announce that:

GREEK EIS APPROVAL


The Greek government has announced that the Joint Ministerial Decision
has been delivered thereby formally approving the Environmental Impact
Study ('EIS') submitted by the Company's 95%-owned subsidiary Hellas
Gold SA for the development of the Company's Greek assets. This
completes the official approval process for the EIS.

The notification issued by the Ministry of Environment, Energy and
Climate Change can be accessed on the Greek government website, as
follows:

http://et.diavgeia.gov.gr/f/ypeka/ada/4%CE%91%CE%A3%CE%940-%CE%A9%CE%940

Q2 2011 NOTIFICATION OF RESULTS


European Goldfields announces that it will publish its results for the
second quarter ended 30 June 2011 on 12 August 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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