Mr. Tim Morgan-Wynne reports

EUROMAX ANNOUNCES INTENTION TO EXTEND MATURITY DATES OF PREVIOUSLY ISSUED CONVERTIBLE DEBENTURES

Euromax Resources Ltd. intends to amend certain terms of its previously issued convertible debentures, which were issued to: (i) European Bank for Reconstruction and Development in the aggregate principal amount of $5-million (U.S.) (as amended from time to time); and (ii) CC Ilovitza Ltd., an affiliate of Consolidated Contractors Company Group, in the aggregate principal amount of $5.2-million (Canadian) (as amended from time to time).

Specifically, Euromax intends to, among other things, enter into agreements with EBRD and CCC to extend the maturity dates of the convertible debentures from Feb. 28, 2026, to Feb. 28, 2027.

The proposed amendments are not intended to make any changes to the conversion price applicable to principal under the convertible debentures (15 cents per share) or to the applicable interest rate (20 per cent for the period from and including April 30, 2018, to and excluding March 31, 2019, and 7 per cent for the period from and including March 31, 2019, to and excluding Feb. 28, 2027).

In completing the proposed amendments, the company is relying on the exemptions from the formal valuation and minority approval requirements in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) contained in sections 5.5(e) and 5.7(1)(c) of MI 61-101, respectively.

The proposed amendments are subject to acceptance by the TSX Venture Exchange and other approvals.

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.