EUROPEAN GOLDFIELDS - DIRECTORS DEALINGS

WHITEHORSE, Dec. 9 /CNW/ - European Goldfields Limited (TSX / AIM: EGU) ("European Goldfields" or the "Company") reports that on 8 December 2010 Martyn Konig, Executive Chairman and President of the Company, purchased 20,000 ordinary shares in the Company at an average price of CDN $13.45 per share.  Mr Konig's holding in the Company is now 454,457 ordinary shares.

The Company also reports that on 2 December 2010 as part its Long Term Incentive Plan, the Company's board of directors approved the grant of options to directors of the Company as listed below.  The options have an exercise price of CDN $13.95 and vest upon the satisfaction of certain criteria.

Name of Director	Number of options granted
Martyn Konig	825,000
Mark Rachovides	550,000
Timothy Morgan-Wynne	550,000

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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