Thursday, September 16, 2010

Eldorado (NYSE:EGO) Closes Acquisition of Xiaoshiren Central License

Eldorado Gold Corporation (NYSE:EGO) announced they have closed the acquisition of the Xiaoshiren Central exploration license, located about 20 kilometers southeast of their White Mountain gold mine in Jilin Province, China.

The Xiaoshiren Central EL was acquired from Fushun Hanking Mining Ltd, and is now 100 percent owned by the White Mountain Joint Venture, of which Eldorado holds a 95 percent stake, according to Eldorado President and Chief Executive Officer, Paul N. Wright.

Wright said in a press release, "The acquisition is consistent with Eldorado's China growth strategy where we leverage the advantage of local knowledge and infrastructure to acquire high quality prospect opportunities. Our team continues to review other opportunities and we are confident we will continue to grow and add to our exploration portfolio."

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