European Goldfields Limited - DIRECTORS DEALINGS

WHITEHORSE, Sept. 7 /CNW/ - European Goldfields Limited (TSX / AIM: EGU) ("European Goldfields" or the "Company") reports that Martyn Konig, Executive Chairman and President of the Company, has purchased an additional 25,000 shares in European Goldfields on 5 September 2010 at an average price of CDN $9.97807

Following the purchase, Mr Konig's holding in the Company is 434,457 ordinary shares or 0.24% of the Company's current issued share capital.

The Company was notified of the share purchase on 6 September 2010.

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

For further information: European Goldfields, Steve Sharpe, VP Business Development, e-mail: [email protected], Tel: [phone]; Liberum Capital Limited, Simon Atkinson, Tom Fyson, Tel: [phone]; Buchanan Communications, Bobby Morse/Katharine Sutton, e-mail: [email protected], Tel: [phone]; Evolution Securities Limited, Rob Collins, Tim Redfern, Tel: [phone]