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MAIN FACTS:
-Konig will lead a strategic review of its management, business and affairs which will include the development of a new corporate strategy, with a focus on corporate development and financing alternatives, strengthening relationships with key shareholders, enhancing its corporate profile and defining its model for business development.
-Konig has over 27 years experience in the resources sector. He was formerly the CEO of Blackfish Capital Management Limited.
-Dimitrios Koutras will step down as Chairman to permit him to undertake an expanded role with the Company's 95% owned Greek operating subsidiary, Hellas Gold, and to focus on the development of those projects through their final stages into production.
-Koutras will remain on the Board of the Company both as a Non-Executive Director and as Executive Chairman of Hellas Gold.
-David Reading, is departing both as CEO and from the Board of European Goldfields.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
(END) Dow Jones Newswires
10-09-09 0449ET
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