Eldorado Corp. -- special warrant prospectus approved $10.8 million released to the company.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 31, 1995-- Eldorado Corp. (TSE/VSE/BSE:ELD) is pleased to announce receipts have been issued by the Ontario, Quebec and British Columbia Securities Commissions for a prospectus qualifying the distribution of 3.4 million common shares issuable under special warrants issued and sold to subscribers at $4.15 (Cdn) each in May 1995.

The company has received additional gross proceeds of $10,582,500 (Cdn) plus interest of $216,491 (Cdn) previously held in escrow, representing 75 percent of funds raised by the special warrant placement. The company received 25 percent of the subscription proceeds at closing of the special warrant placement in May 1995.

The proceeds will be used by the company to complete the expansion study on the La Colorada Mine in Mexico and provide the company with additional working capital. -0-

NOTE: Eldorado Corp. Ltd.'s shares trade on the Toronto Stock Exchange (TSE), the Vancouver Stock Exchange (VSE) and the Bermuda Stock Exchange (BSE), symbol: ELD. Neither the TSE, the VSE nor the BSE have approved or disapproved the form or content of this release.

CONTACT: El Dorado Corp. Ltd., Vancouver

Dave Hottman, 604/687-4018

604/687-4026 (fax)

e-mail [e-mail]