August 03, 2005 15:34 ET

AFCAN: Special Security Holders Meeting to be held on September 8, 2005

MONTREAL, QUEBEC--(CCNMatthews - Aug. 3, 2005) - AFCAN Mining Corporation (TSX:AFK) ("Afcan or the "Company") announces that pursuant to an order of the Superior Court of Quebec (the "Order" and the "Court") dated July 19, 2005, a Notice of Special Meeting and related Information Circular have been mailed on July 25, 2005 to Afcan shareholders (the "Shareholders") and Afcan warrantholders (the "Warrantholders") of record as at July 25, 2005 (the "Securityholders"). This special meeting will be held on September 8, 2005 at 9:00 am at the Hotel Fairmont The Queen Elizabeth and is called in order for the Securityholders to approve the transaction that was announced on May 30, 2005 whereby Eldorado Gold Corporation ("Eldorado") will acquire all of the issued and outstanding shares of Afcan (the "Transaction"). Further, all outstanding warrants as at the date of closing to occur on or about September 16, 2005, will be exchanged for Eldorado warrants on the basis of one Eldorado warrant for every 6.5 Afcan warrants. Afcan's shares trade on the Toronto Stock Exchange (TSX:AFK). Eldorado Gold Corporation's shares trade on the Toronto Stock Exchange (TSX:ELD) and the American Stock Exchange (AMEX:EGO).

Securityholders should carefully read the Information Circular and consult with their tax advisors as the transaction could have tax implications for them.

Upon approval of the Transaction by the Securityholders, hearing of the Petition for a Final Order will be held before the Court, on September 9, 2005 at 9:00 am in room 16.10. Shareholders, Warrantholders and Afcan Optionholders seeking to appear at the hearing for a Final Order shall on or before August 26, 2005, serve on Afcan's attorneys of record, Desjardins Ducharme L.L.P. ("Desjardins Ducharme") and file into the Court, an appearance and if such appearance is with a view to contesting the Petition for a Final Order, serve on Afcan's attorneys of record, Desjardins Ducharme and file into the Court on or before September 2, 2005, a written contestation supported as to the facts by an affidavit(s) and exhibit(s) if any, failing which such person shall not be authorized to contest the Petition for a Final Order.

Further information and a copy of the Order can be found in the Information Circular mailed to Shareholders and Warrantholders of record available on the website Non-registered Securityholders are invited to contact their respective brokers and ensure that their proxy duly completed is returned to Afcan's Registrar and transfer Agent (National Bank Trust) and that their shares and warrants are returned to the Transfer Agent (Natcan Trust Company) in accordance with the instructions contained in the letter of transmittal attached to the Information Circular.

Contact for details of the Request for information
Meeting & Documents packages:

Louise Vaillancourt-Chatillon National Bank Trust
Corporate Secretary c/o Customer Service
750 boul. Marcel-Laurin, suite 220 1100 University
Saint-Laurent, Quebec, H4M 2M4 9th floor
Phone : 514-744-0770, ext. 202 Montreal (Quebec) H3B 2G7
Fax : 514-744-0235 Phone :(514) 871-7171
Email or 1-800-341-1419

Afcan's Board of Directors have agreed to an offer from Eldorado Gold
Corporation (TSX:ELD, AMEX:EGO) whereby Afcan will become a wholly
owned subsidiary of Eldorado.

Afcan owns 85% of the TJS Project. A Bankable Feasibility Study has
been completed on the Project and construction of the 150,000 oz/year
mine has commenced. There are an additional 23 anomalies on the
licence area of 341 km2 that have been identified.


David G Netherway
President and Chief Executive Officer

Afcan Mining Corporation's shares trade on the
Toronto Stock Exchange (TSX:AFK).

The TSX has neither approved nor disapproved the form or content of this release.

Contact Information