EUROPEAN GOLDFIELDS LIMITED

European Goldfields announced that it has signed a Heads of Agreement with Aldridge Minerals for the joint development of the Derinkoy properties in North-Eastern Turkey, comprising licences covering a total area of 40 sq km. Also on the Ardala property, exploration work has confirmed that porphyry mineralisation continues to the south of the previously recognised outcrops. Modeling of the newly discovered zone is now complete and drill testing will commence in mid 2009. The main occurrence is a 230 metre zone of breccia with widths of 5 to 15 metres. Rock-chip samples returned grades of between 1.42 and 20.5 g/t Au with an average of 10.8 g/t Au.