Euro Ressources : EURO Ressources S.A. Announces Results for the Quarter and Nine Months Ended September 30, 2007

EURO Ressources S.A. (TSX:EUR) (Paris:EUR) today announced its unaudited interim consolidated financial results for the third quarter of the 2007 financial year and nine months ended September 30, 2007. These results are a third quarter loss of €1.52 million and a loss of €0.18 million for the nine months ended September 30, 2007.

James H. Dunnett, Directeur-Général of EURO Ressources S.A. (?EURO?) commented: ?Although production at Rosebel was slightly lower than in the comparative period of 2006, we are pleased with the continued improvement of Rosebel production following the strike in the first quarter of 2007. Production has now recovered to a 300,000 annual rate and the capital expenditure program, presently being undertaken by IAMGOLD at Rosebel, should underpin the current level of production. IAMGOLD has forecast an increase in production once the additional facilities are fully commissioned.

?The gold price increased to an average of $680 during the third quarter, which reflected positively in the cash we receive from our royalties, however we continue to record non-cash losses on our hedge position. The increase in the gold price since the end of the quarter, to over $800/ounce, will further improve our cash-flow and liquidity. We intend to use this improved liquidity and the proceeds from the rights issue, after repayment of certain debts, to seek to limit and reduce our gold hedge exposure.?

Rosebel Royalty

The royalty payable by IAMGOLD for the third quarter was on reported production from the Rosebel mine of 75,227 ounces of gold, a 3% decrease compared to production of 77,837 ounces reported in the third quarter of 2006, but an 8% increase over second quarter 2007. More detailed information about the anticipated production levels and reserve statements related to the Rosebel gold mine is available on IAMGOLD's website which can be viewed at: www.iamgold.com.

Three months ended September 30, 2007 compared to three months ended September 30, 2006

Royalty revenue totaled €2.02 million during the three month period (2006: €2.00 million) and, after accounting for losses on gold derivatives liquidated during the period, EURO's net revenue was €1.11 million (2006: €1.11 million). Liquidated gold derivative costs during the quarter were €0.91 million compared to €0.89 million for the third quarter of 2006. EURO recognized a fair value non-cash mark-to-market derivative loss of €2.35 million in the third quarter of 2007 compared to a non-cash mark-to-market gain of €2.30 million in the third quarter of 2006.

Third quarter 2007 general and administrative costs were €0.5 million (Q3 2006: €0.4 million) reflecting legal and accounting expenses associated with the dual listing on the Euronext and Toronto Stock Exchange and compliance with dual regulations for capital raising activities. The reduction in interest expenses, €0.12 million this quarter, compared with €0.15 million in Q3 2006, reflects the continuing reduction in debt to Macquarie Bank Limited.

The decrease in depreciation and amortization expenses of €0.16 million (2006: €0.18 million) during the three months ended September 30, 2007 reflects the decreased production at Rosebel. Debt accretion expense of €0.08 million (2006: €0.09 million) reflects the accounting treatment for the deferred component of the Rosebel Royalty purchase consideration.

Nine months ended September 30, 2007 compared to nine months ended September 30, 2006

We recorded royalty revenue of €5.29 million during the first nine months of 2007 (2006: €5.56 million). Net of liquidated losses on gold hedging recorded during the period, net revenue was €2.35 million (2006: €3.09 million). We recorded a non-cash mark-to-market derivative loss of €0.71 million (2006: 3.14 million) arising from the accounting treatment for our remaining gold hedging contracts.

Liquidity

Consolidated cash as of September 30, 2007 was €0.57 million compared to €1.30 million at the end of 2006. The Company expects that its cash flow from royalties will enable it to adequately fund all anticipated operational and debt service requirements.

About EURO

EURO is a French company, presently focused on acquiring and holding royalties and similar interests on operating gold mines. EURO also holds certain gold mineral rights in French Guiana including Paul Isnard which comprises 8 concessions and a PER over 140 sq. km. EURO has approximately 50.5 million shares outstanding, before the issuance of shares from the current rights issue.

Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding IAMGOLD's intentions to expand production at the Rosebel mine and of the Company to acquire additional royalty or mineral interests. There can be no assurance that future developments affecting the Company or the Rosebel gold mine will be those anticipated by management.

Not for distribution to United States newswire services or for dissemination in the United States. The securities referred to herein have not been registered under the US Securities Act of 1933 and may not be offered or sold in the United States or to a US person absent registration or an applicable exemption from registration.

Additional information relating to EURO Ressources S.A. is available on SEDAR at www.sedar.com. Further requests for information should be addressed to:

James H. Dunnett, Directeur-Général Tel: [phone] Email: [e-mail]

Susanne A. Hermans Vice-President Finance Tel: [phone] Email: [e-mail]

EURO Ressources S.A.
James H. Dunnett, [phone]
Directeur-Général
[e-mail]
Susanne A. Hermans, [phone]
Vice-President Finance
[e-mail]