Mr. P. Gage Jull reports

EUROMAX ANNOUNCES PROPOSED PRIVATE PLACEMENT

Euromax Resources Ltd. has arranged a non-brokered private placement of up to 113,828,800 units of the company, each unit consisting of one common share in the capital of the company and one common share purchase warrant, at an offering price of five cents per unit for aggregate gross proceeds of approximately $5,691,440. Each warrant will entitle the holder to acquire one common share at an exercise price of 7.5 cents per common share for a period of two years following the closing of the offering.

The proposed placees of the offering are expected to include one or more insiders of the company and other investors. The offering is not expected to materially affect control of the company. Proceeds of the offering will be used for general working capital purposes.

As one or more of the proposed placees are expected to be related parties of Euromax under Policy 5.9 of the TSX-V and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, in completing the offering, the company intends to rely on the exemptions from the formal valuation and minority approval requirements contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively.

Closing of the offering is subject to acceptance by the TSX Venture Exchange of the terms of the offering and other customary closing conditions. In addition to any applicable resale restrictions under Canadian securities laws, all securities issued under the offering will be subject to a four-month resale restriction imposed by the TSX-V. There can be no assurances that the offering will be completed on the terms set out herein, or at all, or that the proceeds of the offering will be sufficient for the proposed use of proceeds as set out above.

The company will file a material change report in respect of the offering less than 21 days before the closing of the offering, which shorter period is consistent with market practice and the company believes is reasonable and necessary in the circumstances as it wishes to complete the offering in an expeditious manner.

About Euromax Resources Ltd.

Euromax has a major development project in North Macedonia and is focused on building and operating the Ilovica-Shtuka gold-copper project.

We seek Safe Harbor.