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European Goldfields finalises joint venture with Ariana Resources

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European Goldfields

On April 21, 2008, European Goldfields Limited announced that it had signed definitive documentation governing a joint venture with Ariana Resources plc. The joint venture will become effective when the transfer of Ariana's properties, currently in progress, is confirmed by the General Directorate of Mining Affairs in Turkey. The joint venture involves the development of the joint venture entity's properties in north-eastern Turkey, which include the Ardala copper-gold porphyry and fifteen other licences covering a total area of 229 square kilometres. Al Gourley and Dimitri Cavvadas of Fasken Martineau advised European Goldfields in the negotiation of this transaction.



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