European Goldfields Limited - Appointment of Nominated Advisor and Joint
Brokers

TORONTO, June 10 /CNW/ - European Goldfields Limited (TSX / AIM: EGU) ("European Goldfields" or the "Company") is pleased to announce the appointment of Liberum Capital Limited as Nominated Adviser and Joint Broker and Evolution Securities Limited as Joint Broker to the Company. These appointments take place with immediate effect.

Commenting on the appointment, Martyn Konig, Executive Chairman and President of European Goldfields, said: "We see the appointment of Liberum Capital and Evolution Securities as key to developing our London investor base and enhancing London liquidity to complement the strong trading activity in the Company's shares on the Toronto Stock Exchange. This decision follows a review by European Goldfields of its advisors as it readies itself for development of its key projects in Romania and Greece."

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 and the sale of gold concentrates from Olympias. 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.

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 2009, 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.

For further information: European Goldfields: Sally Schofield, VP Investor Relations, e-mail: [email protected], Tel: [phone]; Liberum Capital Limited: Simon Atkinson, Michael Rawlinson, Tel: [phone]; Buchanan Communications: Bobby Morse, Katharine Sutton, e-mail: [email protected], Tel: [phone]; Evolution Securities Limited: Rob Collins, Tim Redfern, Tel: [phone]