Euromax Resources Ltd (PK) (EOXFF) Quote

A whole lot of insider buying going on.

We've had a nice run-up but more coming...

Update on Trun

http://www.marketwire.com/press-release/euromax-provides-update-on-its-trun-property-in-bulgaria-tsx-venture-eox-1690083.htm

Exploitation Concession Granted for Ilovitza Project

VANCOUVER, July 24, 2012 /CNW/ - EurOmax Resources Ltd. (TSX-V: EOX; OTCQX: EOXFF): ("EurOmax" or the "Company") is pleased to announce that it has been granted a concession for the exploitation of mineral resources at its flagship Ilovitza copper-gold project (the "Project") in the municipality of Bosilovo in South Eastern Macedonia, (the "Exploitation Concession Agreement").
The Exploitation Concession Agreement was issued to EurOmax's wholly-owned subsidiary by the Government of Macedonia, represented by the Prime Minister, Nikola Gruevski and Minister of Economy, Valon Saracini, on 24 July 2012 at a formal signing ceremony in Skopje attended by members of the Company's senior management, the Prime Minister and the Minister of Economy.

The Exploitation Concession has been issued on the basis of:
A mineral resource report; A conceptual study of the development of Ilovitza, which included geo-mechanical, mineralogical and metallurgical reports and studies; An Environmental Impact Statement ("EIS"), which included geochemical, hydrochemical and hydro-geological reports; A public consultation in respect of the EIS on 1 November 2011 in the Municipality of Bosilovo; A cadastral report for the Exploitation Concession area including the area covered by the mining activities and proposed open pit.

The granting of the Exploitation Concession was supported by the positive opinions of the Ministry of Economy, Ministry of Agriculture, Forestry and Water, Ministry of Transport and Communications, Ministry of Culture and Municipality Administration.

The Exploitation Concession has been granted under the rules and regulations of the Law on Mineral Raw Materials in Macedonia and as such has an initial term of 30 years, is subject to royalties of 2% of the market value of metal contained in concentrate and a land usage fee of 180,000 Macedonian Denar per square kilometer (approximately USD 5,000 per annum based on current exchange rates and a concession area of 1.68 km2).

The Company is advancing a Preliminary Economic Assessment ("PEA") using the findings of the conceptual study referred to above to outline the economics of the project in different operating scenarios, through-puts and different cut off grades further to its Technical Report announced on 18 May 2012. The PEA is due to be completed by year-end.

Additionally, in parallel with the development of the PEA and as previously announced on 17 May and 14 June, the Company is continuing its step out and in-fill drilling programmes and metallurgical test work to advance the Ilovitza Project toward a Preliminary Feasibility Study ("PFS") level, which it anticipates completing by mid-2013.

Commenting on today's announcement, Steve Sharpe, President & CEO of the Company said:
"This is a very important milestone in EurOmax's transition from a pure exploration company into a development and exploration company. The newly established management team at EurOmax is now fully empowered to kick-start the detailed work that will enable Ilovitza to be developed in a timely manner and to world class technical and environmental standards that will be ultimately be beneficial to all stakeholders.

I would personally like to thank Prime Minister Gruevski and Minister Saracini for their support throughout this process and on a broader note the dynamism and pragmatism of the Macedonian authorities as a whole, in facilitating this first step towards the development of Ilovitza. I firmly believe that this is a very positive development for Macedonia, not only in terms of the direct investment and long-term job creation, but also in a broader sense by raising the profile of Macedonia on the international stage. Firstly, in terms of the international capital markets and secondly but perhaps most importantly, by being recognised as facilitating the socially and environmentally responsible development of its natural resources."

Things are heating up again. :)

$34.00 an ounce is what you are paying for gold if you buy EOXFF

Not much other than what has been said. I don't know of a stronger management team in the the whole sector.

Looks like some great news! The new management team has a proven track record of getting the results desired out of an exploration Company. Any insights into the news release that may not be obvious?

Recent management hires to drive "substantial" upward rerating in EurOmax shares, says First Berlin
10:10 am by Deborah Sterescu EurOmax Resources shares trading at an unwarranted discount to peers, says First Berlin Equity Research
Recent management additions to EurOmax Resources (CVE:EOX) are expected to drive a "substantial upward rerating" of the miner's shares, according to a recent report from First Berlin Equity Research.

First Berlin has rated the company with a "buy" recommendation and a price target of 50 cents, up from its previous target of 45 cents.

Earlier this month, it was announced that three former high-ranking members of European Goldfields' (EGU) management team have taken charge at EurOmax.

The significance of this move, said First Berlin analyst Simon Scholes, is that EurOmax's 6.76 million ounces of gold resource base will now be combined "with the proven ability of the former EGU management team to raise money."

In December of 2011, Canadian gold mining company Eldorado Gold (TSE:ELD) (NYSE:EGO) announced the takover of London-based European Goldfields for C$2.5 billion.

European Goldfields has reserves in Greece at the Olympias and Skouries projects, and in Romania at the Certej project totalling 9.2 million ounces of gold.

EurOmax Resources is a Canadian mineral explorer that is advancing three core properties in Bulgaria, Serbia and Macedonia.

At the EurOmax annual general meeting on May 22, three members of European Goldfields' former management team - former executive chairman and president Martyn Konig, former treasurer Varshan Gokool and former senior vice president of business development Steven Sharpe - were elected as directors of EurOmax.

What's more, First Berlin noted that the newly elected directors and other ex-European Goldfields associates will invest C$6.3 million in a private placement of 42 million EurOmax shares at 15 Canadian cents each.

The money raised will be used to fund the forthcoming infill drilling program at its Ilovitza copper-gold porphyry project in Macedonia as well as general working capital requirements.

First Berlin analyst Scholes also took note of further "high quality additions" to the EurOmax management team on the technical and engineering side, which are in progress. Arrangements are already in place and new hires in this area are expected to be announced later this year.

"The EOX share is trading at a large discount to its peer group reflecting past doubts as to whether any of the company’s properties would go into production," Scholes said.

"We expect the last few days’ newsflow to dispel this scepticism and drive a substantial upward rerating of the share."

Sharpe, who has more than 25 years of corporate and project finance experience, is EurOmax's new president and CEO based in London, and will replace Mark Gustafson, who moves to the COO position.

In addition to starting up the mining finance businesses of Rothschild and Standard Bank in the 1990s, Sharpe arranged over US$3.5bn in the debt market, receiving two Euromoney Project Finance Awards.

Gokool is the new CFO and before joining European Goldfields in 2009, he was treasurer of Katanga Mining Limited, where he arranged funding for the Kamoto copper project in the Democratic Republic of Congo. Gokool has also held positions at Société Générale in London, where he was a vice president of the mining finance team, and at Ashanti Goldfields, where he managed the hedgebook.

Konig is the new non-executive chairman and became executive chairman and president of European Goldfields in October 2009. Konig was brought in to re-focus the company and prepare it for financing and development as well as to raise its profile in the international financial markets.

Konig has 30 years experience in investment banking and the commodity markets and is also a non-executive director of TSX listed Newgold Inc.

First Berlin noted he has "extensive experience in the natural resource sector", and for 15 years and held senior positions at Goldman Sachs and UBS.

"One of the principal highlights of Konig's tenure was the orchestration of a US$750m debt facility comprised of US$600m from Qatar Holding and US$150m from existing shareholders which secured EGU’s financing to production.

"We understand that this financing package was the catalyst for the Eldorado takeover," the report said.

First Berlin noted that from conversations with the new management team, it gathers that were two key drivers of their decision to join EurOmax, including similarities between Ilovitza and European's Skouries project, and the attraction of EurOmax's undervaluation.

"Ilovitza and Skouries are similar style deposits (both are copper-gold porphyries) and are in the same geological belt. Management’s understanding of and experience with permitting in the region (both in Greece and Romania) positions EOX well for the permitting process," said the research report.

In addition, First Berlin analyst Scholes said the initial focus of the new management team will be the advancement of the Ilovitza property, with "Trun in Bulgaria following close behind and KMC providing the blue-sky upside."

A program of infill drilling at Ilovitza is planned to improve the quality of the resource estimate from inferred to indicated and measured.

EurOmax is transitioning from a pure exploration play, currently listed on the TSX-Venture Exchange, to an exploration and development company with a London listing in early 2013. The company plans on rebranding with a move in headquarters from Vancouver to London.

Management is targeting an AIM listing for the second quarter of 2013, First Berlin said, on the back of a pre-feasibility study to be completed in the first quarter of next year.

With regards to the pre-AGM management team, Gustafson moves from CEO to COO, while Dimitar Dimitrov remains senior VP of exploration and Quinton Hennigh remains chief geologist.

First Berlin concluded that EurOmax is trading at an "unwarranted discount to peers."

"Our peer group comparison now shows an average EV/oz of C$27.19 for the peers and C$4.55 for EOX."

I understand the logic you express, it pinches everywhere.
It seems that with the fresh funds from the property sale, and treasury for a not insignificant effort for the next 12 months, there is time to wait and see if we have bottomed, to see if any near-term catalysts might provide a more favorable placement. It seems like there is cushion for some cash management to buy a month or few, instead of right away. It has the appearance of expectations for doom and gloom in the European/International financing future and/or near future pps.
That pretty much sums up where I was coming from with the mixed-message comment.

With the explorers shares so suppressed in price this is unavoidable at the present time.

Agree, there appears to be a future here; sound like good on the ground expertise in areas of focus, existing project prospects, etc..
Not sure I am too impressed by 30% total increase in o/s and with the placement priced at these levels, given stated funding availability on hand.

I don't see it that way. I believe what we are seeing is the beginning of a strong company with great assets. Management is the best in the business and their board is now very strong. They want to be London based with a presence in Toronto and that's ok.

Sort of sending out mixed messages for their first weeks in control.

EurOmax Proposes $6.3 Million Private Placement and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 24, 2012) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
EurOmax Resources Ltd. (TSX VENTURE:EOX) (OTCQX:EOXFF) ("EurOmax" or the "Company") is pleased to announce a non-brokered private placement of up to 42,000,000 common shares of the Company at the price of $0.15 per share, for gross proceeds of up to $6,300,000. There are no warrants in this private placement.
The Company intends to use the proceeds of the private placement to fund the first stage of a development program at its Ilovitza copper-gold porphyry project and for general working capital purposes.
Certain insiders of the Company may acquire securities under the private placement. Any such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization.
The private placement is subject to the approval of the TSX Venture Exchange. Any securities issued pursuant to the private placement will be subject to a hold period of four months from the closing date of the private placement in accordance with applicable Canadian securities laws.
Stock Options - The Company has granted a total of 8,630,000 stock options to directors, officers, consultants and employees of the Company pursuant to the Company's stock option plan. The options are exercisable for five years at a price of $0.20 per share and vest 25% on grant, 25% after one year, 25% after two years and the remaining 25% after three years. Insiders of the Company were granted a total of 5,200,000 options.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Canada- EurOmax sets stage for transformation into London-based explorer








(MENAFN - ProactiveInvestors - UK) EurOmax Resources' (CVE:EOX)(OTCQX:EOXFF) share consolidation is the first step in a process that will transform the junior explorer into a London-based exploration and development company.

Currently listed in Toronto and the US, the company has three advanced gold and base metal properties in Bulgaria, Serbia, and Macedonia. These are mining-friendly regions, open to foreign investment, with a skilled and knowledgeable workforce.

"We're really looking at transforming into a London-based exploration and development company," EurOmax chief operating officer Mark Gustafson told Proactive Investors in a recent interview.

"Our assets are in Southeastern Europe, so they're closer to London than Toronto plus our three new proposed directors are all based in London. There will be a very strong London-based influence on the board and management team."

The eventual move to the London Stock Exchange may take place "well into next year."

EurOmax's shareholders recently approved a stock consolidation on a one for three basis, which would reduce outstanding shares to approximately 55 million common shares from around 166 million currently. They also voted to elect the following to the company's board of directors: Mark Gustafson, Randal Matkaluk, Quinton Hennigh, Martyn Konig, Varshan Gokool and Steve Sharpe.

"We received really strong support," EurOmax's Gustafson said.

The company's key management team now inclused: Martyn Konig, non-executive chairman; Steve Sharpe, president & chief executive officer; Varshan Gokool, chief financial officer; Mark Gustafson, chief operating officer; Dimitar Dimitrov, senior vice-president of exploration; Quinton Hennigh, chief geologist and and Aurora Davidson, VP of finance & corporate secretary.

Gustafson says that the rationale behind the consolidation was to reduce the number of outstanding shares to a level "more appropriate" for a Europe-based company.

In a sign of his strong belief in the company, Gustafson has invested close to $1 million of his own money in EurOmax stock purchases over the past two years.

EurOmax has three core properties, one in each of the three countries where it operates.

The most advanced is the Illovitza copper-gold porphyry project in Macedonia - which "has the obvious development potential" to become a producing mine, Gustafson says.

In April, EurOmax unveiled an updated NI 43-101 resource update giving an indicated sulphide and mixed mineral resource of 22 million tonnes comprising 224,000 ounces of gold at an average grade of 0.31 grams per tonne (g/t) and 112 million pounds copper at an average grade of 0.23%.

On an inferred basis, the sulphide and mixed mineral resource was 374 million tonnes comprising 3.84 million ounces gold at an average grade of 0.32 g/t and 1.74 billion pounds copper at an average grade of 0.21%.

In Bulgaria, Trun is an intrusion-related gold project over 67 square kilometres. A January 2011 NI 43-101 report outlined an inferred resource of 2.1 million ounces of gold at the Logo prospect.

Earlier this month, EurOmax said recent drilling at Trun led to a high-grade silver discovery.

Drilling on the KD Zone at Little Hill, the southernmost of two granite intrusions on the property, returned 12.8 metres at 975 g/t silver, including 3.0 metres at 3,450 g/t silver in diamond drill hole 12132.

In Serbia, meanwhile, KMC is a large skarn/porphyry copper-gold project on a 42 square kilometres exploration license.

To date, drilling at KMC has identified extensive copper-gold skarn, gold skarn, and gold-bearing siliceous breccias in several locations. EurOmax believes one or multiple buried porphyry intrusions, perhaps also mineralized, may be the source for these widely occurring mineralized zones.

"Our Serbian property has the most upside potential from an exploration perspective," EurOmax's Gustafson says.

Following the recent sale of Thrace Resources in Bulgaria and the $3.8 million raised from a private placement in January, EurOmax has enough financial resources for this year's drilling campaign.

"Between the sale and January private placement, all of our exploration announced this year is funded. Any additional development at Illovitza would require financing but our 2012 program is fully funded."

Gustafson also says the company plans to add to its portfolio of assets in Bulgaria, Serbia and Macedonia.

"We will announce some additional prospects later in the year," he adds.

In terms of updates, final drill results from Trun are expected in early July, and over the summer and fall, EurOmax will proved further drilling updates on Ilovitza and KMC.

When asked on his outlook for gold and copper, EurOmax's Gustafson is "not quite as bullish as others" and sees prices for gold and copper north of $1,500 and $3 a pound, respectively, but sees "pretty good" overall demand for the basic commodities.

EurOmax Begins 2012 Drill Campaign at KMC and Ilovitza

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/17/12 -- EurOmax Resources Ltd. (TSX VENTURE: EOX) (OTCQX: EOXFF) ("EurOmax" or the "Company") is pleased to announce it has begun its 2012 diamond drill campaign at two of its 100% controlled projects, the KMC Cu-Au Project in Serbia and the Ilovitza Cu-Au Porphyry Project in Macedonia.

Drilling at KMC

Multiple new targets defined by magnetic, induced polarization ("IP") and resistivity data collected in late 2011 will be tested by an 8,000 meter diamond drill program at KMC in 2012. The first drill hole, EOKSC-1246, drilled at an azimuth of 042 degrees true north at an inclination of -50 degrees, was completed to a depth of 541 meters (see attached map). This hole was designed to test a prominent magnetic anomaly located about 2 km north of the Copper Canyon Cu-Au skarn system. Although previous interpretations suggested this area to be underlain by unmineralized serpentinites, hole EOKSC-1246 intercepted extensive pyroxene-epidote skarn beginning at about 380 meters after crossing a major structural zone. This skarn was accompanied by variable amounts of sulphides, mainly pyrite with lesser chalcopyrite. The Company expects to receive assays for this hole in 6 to 8 weeks.

A second hole, EOKSC-1247, is in progress in the northern part of the project testing the Medenovatz target. This hole is vertical and has a planned depth of 500 meters. Nearby historical drill holes intersected extensive Pb-Zn-Ag mineralization hosted in volcanic rocks and Cu-Au mineralization in underlying skarns within a few hundred meters of hole EOKSC-1247. Numerous ancient silver mines are also present. Hole EOKSC-1247 is in an area where magnetic response is subtle, but there are coincident resistivity and IP highs. Completion of this hole is expected in several weeks.

Beginning at the end of May, the Company will be undertaking a detailed gravity survey to complement its already extensive geophysical database that includes detailed ground magnetics and IP-resistivity. It is anticipated that this gravity data will better define areas underlain by intrusive rocks, possibly mineralized, that will also be tested by drilling this season.

"We are very pleased that drilling has commenced at KMC," comments Dr. Quinton Hennigh, Chief Geologist and Director of EurOmax. "The KMC Project covers a vast center of mineralization that we believe is grossly underexplored. Over the next six months, we will drill approximately 8,000 meters of diamond core on multiple new well-defined targets, including skarns, breccia pipes and intrusives."

About KMC

The KMC Cu-Au Project is in a large, Tertiary-aged precious and base metal district located in southwest Serbia in an area with excellent infrastructure. To date, drilling has identified extensive copper-gold skarn, gold skarn, and gold-bearing siliceous breccias in several locations. The Company believes one or multiple buried porphyry intrusions, perhaps also mineralized, may be the source for these widely occurring mineralized zones.

Drilling at Ilovitza

EurOmax has commenced a 4,000 meter step-out diamond drill program at Ilovitza. IP-resistivity data indicates significant potential for expansion of the resource to the south, southeast and east of the conceptual pit. Although extensions of mineralization in these directions might prove to be somewhat deeper than the presently estimated resource, the conceptual pit produced through resource modeling would strip much of the overburden in these areas, potentially making expansion of the current resource estimate possible if exploration proves successful. The first hole, EOIC-1229, a vertical step-out hole situated about 200 meters south of the nearest hole, is presently at a depth of about 400 meters (see attached map).

About Ilovitza

Ilovitza is a Tertiary copper-gold porphyry system, part of a province of such deposits in Macedonia and Greece that includes the gold-copper Skouries deposit (Eldorado Gold Corp.) in Greece. The Ilovitza Project is easily accessible by paved road, is near a rail line and just 75 km from a port facility. In a press release dated April 4, 2012, EurOmax reported a NI 43-101 compliant sulfide and mixed mineral resource estimate of 112 million lbs Cu and 224,000 oz Au in the indicated category (22 million tonnes at 0.23% Cu and 0.31gpt Au) and 1.74 billion pounds Cu and 3,840,000 oz Au in the inferred category (374 million tonnes at 0.21% Cu and 0.32gpt Au) at a 0.25% Cu equivalent cut-off and an oxide mineral resource estimate of 21,000 oz gold in the indicated category (1.9 million tonnes at 0.35gpt Au) and 361,000 oz Au in the inferred category (33 million tonnes at 0.34 gpt Au) at a 0.25 gpt Au cut-off.

Roger Moss, Ph.D., P.Geo., a member of the EurOmax Technical Advisory Board and a "qualified person" as defined by NI 43-101, supervised the preparation of the technical information contained in this news release.

About EurOmax Resources Ltd.

EurOmax is a Canadian company with three core properties in Bulgaria, Serbia and Macedonia. We are focused on identifying, acquiring and developing mineral resources in Southeastern Europe with the objective of becoming a world-class mining company in the region. Our strength is our local staff, knowledge and technical expertise in Bulgaria, Serbia and Macedonia.

Unfortunately discovery takes cash and that usually means shareholders suffer from time to time. I really like the management here and the future management waiting to be voted in. I think when Gold and Silver start their next move up we will see some action here. Until then, bouncing around is what we will have. I'll continue to buy on dips and hold for the big payday.

Or thoughts on the sale of the projects with the majority of the current Ni43-101 estimated resources ?

Some good looking drill results. I thought that might have been why the share price has been bouncing around. Any ideas good or bad concerning the stock consolidation?

Provides Update on Its Bulgarian Properties

http://www.reuters.com/article/2012/05/07/idUS117990+07-May-2012+MW20120507

Well, I've seen it go both ways. Euromax has excellent properties with great management and great locations. What they don't have is endless financing. This step had to be taken to get any of their properties into production or take on a partner.

I hate losing shares and I will wait and see how the market reacts. If there is a sell off I will definitely be a buyer.

Does that mean the share price will triple? I don't know if I like this as the share price will tend to seek the previously listed price. What's your take GSFL?

Shareholders give up 3 shares for 1?

Euromax announces that shareholders will be asked at the annual general and special meeting of shareholders to be held on May 22, 2012 (the "Meeting") to consider a special resolution to approve a consolidation of the Company's issued and outstanding common shares on the basis of one post-consolidation share for every three pre-consolidation shares, or such lesser whole number of pre-consolidation shares as the Company's board of directors may determine. In the event that the proposed consolidation is conducted on a 1 for 3 basis, based on the Company's currently outstanding common shares of 166,575,442, the Company would have approximately 55,525,147 common shares outstanding following the consolidation. The Company's board of directors believes that the existing share structure may not be conducive to completing additional equity financings which will be required in the future, and that this proposed consolidation may be required to facilitate new equity investments in the Company. The Company does not intend to change its name in connection with the proposed consolidation. The proposed consolidation is subject to shareholder approval and acceptance for filing by the TSX Venture Exchange.
The Company also announces that the following persons are proposed to be elected as directors of the Company at the Meeting: Mark Gustafson, Randal Matkaluk and Quinton Hennigh, each of whom is currently a director of EurOmax, and Martyn Konig, Varshan Gokool and Steve Sharpe, each of whom is a new director nominee.
Additional information regarding the proposed consolidation and the proposed director nominees is provided in the management information circular for the Meeting. The information circular and other materials relating to the Meeting have been mailed to registered shareholders and filed on SEDAR.

Consolidated Financial Statements of December 31, 2011 and 2010

https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=78461

Aggressive drill program at it's KMC Copper Gold

http://www.finanznachrichten.de/nachrichten-2012-03/22934806-euromax-plans-aggressive-drill-program-at-its-kmc-copper-gold-project-serbia-256.htm

First Berlin expects positive news for EurOmax that could push it into a "different league"

Independent equity research firm First Berlin has initiated coverage on EurOmax Resources (CVE:EOX) with a "buy" rating and $0.45 price target, expecting "positive news" from the company's resource base.
Friday, EurOmax shares closed at $0.22. Over the past three months the stock is up 12 percent.
EurOmax Resources is a Canadian company focused on gold and copper exploration in the resource rich region of Bulgaria, Macedonia and Serbia. It is currently advancing three core properties: Trun in Bulgaria, KMC in Serbia and Ilovitza in Macedonia.
It has an NI 43-101 compliant resource base in excess of 5 million ounces of gold at 0.90 grams per tonne.
In a research note, First Berlin analyst Simon Scholes said: "We expect newsflow to push EurOmax’s valuation higher this year.
"First, we expect positive news on the resource base with the publication of updated resource estimates for the Ilovitza and Trun properties. Second, there is a significant chance that the current drilling programme at the KMC property will yield a major gold discovery in submerged porphyry intrusions."
First Berlin said that EurOmax is "very conservatively" valued relative to its peers which may be the legacy of a 2010 proxy battle that resulted in a new management team joining the company and a focus on fewer properties - from around half a dozen properties to the current three.
The independent research firm said that the company's existing inferred NI 43-101 compliant gold resources are likely to amount to over five million ounces, which is "a high figure" for an exploration company at EurOmax’s stage of development.
In terms of opportunities, the First Berlin analyst said that the discovery of porphyry-source KMC skarn mineralization "could catapult EurOmax into a different league".
KMC is a very large copper-gold skarn system. EurOmax’s management believes that the skarn mineralization is being driven by hydrothermal activity arising from one or more submerged porphyry intrusions. Data from autumn 2011 geophysical work carried out at KMC suggests the presence of seven buried intrusions.
One or more of these intrusions at KMC could be the porphyry source of the skarn system. In this case, the scale and grade of gold mineralization would potentially be considerably higher than that encountered by EurOmax so far, said First Berlin.
First Berlin's Scholes also said that EurOmax has the potential to expand the resource estimate at Trun.
The pre-revision resource estimate of 2.1 million ounces of gold at Trun from January 2011 is based solely on the Logo target. But there are 10 other targets at Trun - three at the more northerly Big Hill intrusion and seven at the K2 (Little Hill) intrusion to the south.
EurOmax drilled a further 10,600 metres at Trun in 2011 and is currently engaged on a further 6,000 metre drilling program, completion of which is scheduled for the end of May.
These two drilling programs have included Logo and most of the other targets at both Big Hill and Little Hill. An updated NI 43-101 compliant resource estimate is scheduled for the fourth quarter, First Berlin said.
First Berlin also said that the recent clarification of the ownership position at KMC and Illovitza has lent additional momentum to their development.

"2012 to be transformational year", says Caesars Report

EurOmax Resources (CVE:EOX) was recently featured in the Caesars Report, an independent equity and market research firm, based on a recent field trip to some of the mineral explorer's assets.

EurOmax is a Canadian company with three core properties in Bulgaria, Serbia and Macedonia, with Caesars having attended a field trip to visit the Trun project in Bulgaria and the Ilovitza copper-gold project in Macedonia.

Ilovitza currently hosts a resource estimate of 3.2 million ounces of gold and 1.6 billion pounds of copper in the inferred categories, but Caesars said it expects this number to increase to 4.5 million ounces of gold and 2.5 billion pounds of copper in a resource update, expected later this quarter.

The project remains open in all directions, mostly east and southeast, "so there is still considerable upside potential to increase the resource base", Caesars said in its note.

"Our main issues with Ilovitza are the low grades and recoveries. The average grade is currently approx. 0.32g/t gold and 0.23%Cu (2008 numbers), with recoveries expected around 60%. However, we feel these recovery rates could (and should) go up, as more metallurgical tests will be concluded.

"The best solution for Ilovitza and EurOmax would be to sell the project to a major mining company after the resource update, or a suitable joint venture partner now that Freeport hasn’t exercised its back-in right," the report noted.

With regards to the Trun project, Caesars visited the Zlata and KD tenements on the southern part of the property, and was "quite optimistic" on these prospects.

"As Zlata is a past-producing mine, regulation and re-opening of the mine should be relatively easy and cheap. Resource estimates on these tenements are expected in Q3," Caesars said.

However, the company also announced in January that it is expecting a downward revision of the resource estimate at the Logo zone, which now has 2.1 million ounces of gold in the inferred category.

"Whilst this is bad news, we are quite con!dent the updated resource estimate would still contain in excess of 1.5M ounces of gold. EurOmax raised $3.8 million the same week as the announcement of this pending revision and Quinton Hennigh came on board as Chief Geologist, so we aren’t nervous about this future revision," the research firm explained.

Chief geologist Quinton Hennigh has more than 20 years of mineral exploration experience, including positions with Newmont Mining Corp, Newcrest Mining, Homestake Mining and Evolving Gold Corp. He is also currently the president and CEO of Novo Resources Corp, and a technical advisor to Gold Canyon and NV Gold Corp.

In addition to Trun and Ilovitza, the company's Breznik property is located around 30 kilometres from Trun, and hosts a high grade resource of around 0.5 million ounces of gold, and 2 million ounces of silver.

Caesars said the most important thing to note about Breznik is that the property is within trucking distance from the Trun project, and that compared to the size of EurOmax's other projects, it would "most likely prefer" to monetize Breznik.

Failing completion of this sale, combining it with Trun may be an option. Despite the fact that both the Trun and Breznik projects were meant to be stand-alone operations, Caesars would consider the properties to be two parts of one district.

"We’d be curious to see the results of a scoping study combining these two parts in one production plan and compare it to the possible standalone scenarios. It would make sense to investigate the possibility of one central mill, where the lower-grade Trun ore could be blended with the higher-grade Breznik ore," it said.

The mineral exploration company's other remaining project, KMC in Serbia, which was not visited by Caesars, has preliminary results that are considered "very encouraging", said the capital markets firm, and it's "very possible" the project is a higher grade version of the Macedonian Ilovitza property.

EurOmax completed a 2,500 metre drill program at KMC, with results still pending. Caesars said KMC "might very well be another bulk tonnage deposit, and could be as big as half a billion tonnes".

The research report concluded: "As EurOmax just raised 3.8M at C$0.22, they currently have around $4M+ in the treasury, giving them an Enterprise Value of approximately $34M, which gives their ounces in the ground a cheap valuation.

"We’d recommend the company to fast-track exploration at Trun, and release NI43-compliant resource estimates on Zlata, Nadejda and Ruy, as well as an updated resource estimate at Logo. We think that with approximately 12,000m of drilling in H1 2012, these 4 tenements could have in excess of 2.5M ounces altogether, which should be the base of a scoping study/PEA to be completed by year’s end."

The equity researcher also said it looks forward to a resource update at Ilovitza, and hopes the next update will be a platform to start negotiations with possible joint venture partners to bring the asset to development stage.

"We believe 2012 will be a transformational year as EurOmax will prove up more ounces, and create a clear strategy with distinguished priorities. If the company really adds more ounces towards our estimated 7.5Moz mark by the end of 2012, the shareprice could be a multiple from where it is now."

EurOmax was changing hands at 24.5 cents Thursday afternoon on the Toronto Stock Exchange, with the stock up 16.7 percent year to date.

EurOmax Appoints Quinton Hennigh to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2012) - EurOmax Resources Ltd. (TSX VENTURE:EOX) (OTCQX:EOXFF) ("EurOmax" or, the "Company") is pleased to announce that Dr. Quinton Hennigh has been appointed a director of the Company effective immediately. Dr. Hennigh is an economic geologist with more than 20 years of exploration experience. Currently he is the President & Chief Executive Officer of Novo Resources Corp, a junior mineral exploration company. Dr. Hennigh is also a technical advisor and director of Gold Canyon Resources where he helped build a very successful exploration program at Gold Canyon's Springpole deposit in Ontario. Dr. Hennigh has been a technical advisor to EurOmax Resources since November 30, 2010 and Chief Geologist for EurOmax since January 9, 2012.
Prior to entering the junior mining sector, he was an Exploration Geologist with Newmont Mining Corp., Newcrest Mining, and Homestake Mining, during which time he worked on projects in North America, Europe, Australia, Asia, and South America. Dr. Hennigh holds a Bachelor of Science from the University of Missouri and he earned a M.Sc. and a Ph.D in geology and geochemistry from the Colorado School of Mines in 1993 and 1996, respectively. He is a member of the Society of Economic Geologists, the Mining and Metallurgical Society of America and the Association of Professional Geoscientists of Ontario.
"Quinton has been very successful with several exploration companies and we look forward to his increased role at EurOmax," commented Mark Gustafson, President & Chief Executive Officer of EurOmax. "We also wish to thank Mr. Armstrong for his contributions on the technical advisory board and on the board of directors, and wish him well in his future endeavours."
Mr. Hennigh's appointment is subject to the approval of the TSX Venture Exchange.
The Company also advises that William P. Armstrong has resigned from EurOmax's board of directors to pursue other interests. The Company extends its appreciation to Mr. Armstrong for his contributions to EurOmax.

EurOmax Intersects 86 Meters at 1.76 Grams Per Tonne Gold at Its Trun Gold Project, Bulgaria

http://www.marketwatch.com/story/euromax-intersects-86-meters-at-176-grams-per-tonne-gold-at-its-trun-gold-project-bulgaria-2012-02-07-94110

Euro Pacific Mining Specialist Covering Euromax Resources

Euromax Resources (OTCQX: EOXFF; TSX-V: EOX) is gaining traction within the analyst community, beginning with a recently completed report by Euro Pacifc. EurOmax has a portfolio of projects in the Republic of Bulgaria, Serbia and Macedonia. Several mineral targets have been identified with potential for significant expansion of the current resource calculations. Highlights from the report include the following excerpts.

REASONS TO WATCH

Portfolio of Projects: The Trun project is divided into the Big Hill project and Little Hill project and is comprised of 11 mineral targets along with several additional targets on the various projects owned by EurOmax.

Resource Calculation: EurOmax has a global NI 43-101 compliant inferred resource of 5.79M oz gold, 1.56B lbs of copper, 2.10M oz silver and 34.6M lbs of Molybdenum. The most advanced project is Ilovitza in Macedonia with an NI 43-101 inferred sulphide resource of 303M tonnes grading 0.23% copper, 0.32 g/t gold, and 0.005% molybdenum. The Logo Project on the Trun Property is a highly prospective target and the most advanced at Trun with an inferred resource calculation of 2.10M oz gold.

Favourable Geology: The KMC project has several different types of mineralization including proximal copper-gold skarn, distal gold skarn, lead-zinc-copper-gold skarn, volcanic hosted gold and silica breccia hosting gold mineralization. The Trun project is comprised of multiple gold occurrences which are hosted in granite or, in the case of Logo, in the overlying hornfels. The Ilovitza project is a large copper-gold porphyry with significant potential for expansion.

ACTION – ADD TO WATCH LIST

Euro Pacific believes that EurOmax has several highly prospective mineral targets on multiple projects. Trun and Ilovitza both remain attractive for exploration as they offer significant growth potential of current resources. The Trun property has 10 targets. Only one of these 10 targets at Trun have a resource calculation totalling 2.1M oz gold. The KMC project has five styles of mineralization and has yet to encounter the porphyry intrusions believed to be the cause of the widespread mineralized zones on the project.

EurOmax Retains 100% Control of its Ilovitza Cu-Au Porphyry Project, Macedonia


http://www.marketwire.com/press-release/euromax-retains-100-control-of-its-ilovitza-cu-au-porphyry-project-macedonia-tsx-venture-eox-1610832.htm

EurOmax Resources Ltd. Joins OTCQX



/PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, announced that EurOmax Resources Ltd. (OTCQX: EOXFF; TSX.V: EOX), a company focused on three core properties in Bulgaria, Serbia and Macedonia, is now trading on the highest tier of the OTC market, OTCQX®.
(Logo: http://photos.prnewswire.com/prnh/20110118/MM31963LOGO )
EurOmax began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
"OTCQX provides services to companies which enable them to communicate with and engage their investors, while providing them with transparent trading and easy access to company information," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome EurOmax Resources to OTCQX."
Berns & Berns, Counsellors at Law will serve as EurOmax's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws.

Read more here: http://www.bradenton.com/2012/01/23/3812703/euromax-resources-ltd-joins-otcqx.html#storylink=cpy

EurOmax Closes $3.8 Million Private Placement


http://www.marketwire.com/press-release/euromax-closes-38-million-private-placement-tsx-venture-eox-1606948.htm

EurOmax Appoints Quinton Hennigh as Chief Geologist




VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/09/12 -- EurOmax Resources Ltd. (TSX VENTURE:EOX)(PINKSHEETS:EOXFF) ("EurOmax" or "the Company") is pleased to announce that Dr. Quinton Hennigh has been appointed Chief Geologist of the Company effective immediately. Since November 2010, Dr. Hennigh has been a technical advisor to the Company, during which time he has been instrumental in advising management and the board of directors, participating in technical meetings, and in leading property tours. As the Chief Geologist for EurOmax, Dr. Hennigh will provide focus and direction for the Company's ongoing exploration programs in Bulgaria, Serbia, and Macedonia.


"Quinton is an expert geologist with a history of successful gold exploration programs," commented Mark Gustafson, President & Chief Executive Officer of EurOmax. "Quinton is responsible for revitalizing exploration at the Springpole gold project in Ontario for Gold Canyon Resources, contributing to three significant gold discoveries in the western US for Evolving Gold Corp and making a significant gold discovery for Prosperity Goldfields at its Kiyuk project in Nunavut. Dr. Hennigh is the ideal candidate to manage the Company's exploration activities in conjunction with Dimitar Dimitrov, our Senior Vice President Exploration. His technical expertise and proven managerial abilities will be a great asset in developing the Company's three core properties and in identifying new prospects."



"I am looking forward to dedicating more of my time working with EurOmax's outstanding technical team to explore the three potentially world class projects already in EurOmax and exploring for new opportunities in the Balkans," states Dr. Hennigh. "This year will be exciting at the KMC property in Serbia where recently gathered geophysical data indicates the presence of multiple large-scale porphyry and skarn targets. At the Trun granite-hosted gold system in Bulgaria we plan to refocus exploration on the new gold zones discovered in 2011. At Ilovitza, we expect to see a sizeable increase in the resource from our recent drilling and will be evaluating the potential economics of this large Cu-Au porphyry."


Dr. Hennigh is an economic geologist with more than 20 years of exploration experience. Currently he is the President & Chief Executive Officer of Novo Resources Corp, a junior mineral exploration company. Dr. Hennigh is also a technical advisor and director of Gold Canyon Resources where he helped build a very successful exploration program at Gold Canyon's Springpole deposit in Ontario. He is also a director of NV Gold Corporation, a junior mining corporation.


From 2008 until 2011 he was President and Chief Geologist of Evolving Gold Corp and Chief Geologist of Prosperity Goldfields. Prior to entering the junior mining sector, he was an Exploration Geologist with Newmont Mining Corp., Newcrest Mining, and Homestake Mining, during which time he worked on projects in North America, Europe, Australia, Asia, and South America. Dr. Hennigh holds a Bachelor of Science from the University of Missouri and he earned a M.Sc. and a Ph.D in geology and geochemistry from the Colorado School of Mines in 1993 and 1996, respectively. He is a member of the Society of Economic Geologists, the Mining and Metallurgical Society of America and the Association of Professional Geoscientists of Ontario.


Updated Resource Estimates for Ilovitza and Trun


The Company has taken steps to retain qualified and independent consulting firms to conduct analyses and to update the existing resource estimates on the Ilovitza property in Macedonia and on the Trun property in Bulgaria. Based upon preliminary work completed by one of these firms, management expects a significant downward revision to the resource estimate at Trun. Both updated estimates will include results from recent exploration work and the Trun estimate is expected to utilize resource estimation methodologies that are more conservative than those used in the original estimate. Considerable additional work is required to complete the updated resource estimates for both properties. Management will announce the resource estimates when they are available.


Vancouver Resource Investment Conference- January 22/23


The Company invites shareholders and investors to visit members of management at booth #841 (1055 Canada Place) at the Vancouver Resource Investment Conference in Vancouver, British Columbia on January 22 and 23, 2012.

Great Interview with Mark Gustafson CEO

http://www.proactiveinvestors.com/companies/stocktube/230/euromax-ceo-says-it-has-a-substantial-inferred-resource-base-of-58moz-gold-.html

EurOmax Receives Favourable Metallurgical Results and Files Application for Exploitation Concession at Ilovitza
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2011) - EurOmax Resources Ltd. (TSX VENTURE:EOX) (PINK SHEETS:EOXFF) ("EurOmax" or "the Company") is pleased to announce favourable recoveries of copper, gold and silver into concentrate from testing of a representative sample of stockwork mineralization from its Ilovitza Cu-Au Porphyry Project, Macedonia. Preliminary metallurgical testing indicates recoveries of 84% of copper, 58% of gold and 68% of silver. A concentrate grading 22.0% copper, 16.6 grams per tonne gold and 145.7 grams per tonne silver was produced through optimized, selective flotation of a pulverized sample grading 0.24% copper, 0.25 gram per tonne gold and 1.6 grams per tonne silver.

Froth flotation tests were conducted on a composited sample of representative stockwork mineralization grading 0.24% copper, 0.25 gram per tonne gold and 1.6 grams per tonne silver from the central core of the Ilovitza porphyry Cu-Au system. Tests were conducted on samples ground to P80 of 75 microns. Results indicate that optimized, selective flotation can achieve recoveries of 84% of copper, 58% of gold and 68% of silver. A concentrate grading 22.0% copper, 16.6 grams per tonne gold and 145.7 grams per tonne silver was produced from this sample.
A Bond work index (BWi) test on the same material ground to P80 of 75 microns indicates the rock has a medium hardness with a BWi of 11.6 kWh/tonne.
Testing was conducted at the Institute of Metallurgy ITMNS, Belgrade, Serbia.
Drilling at Ilovitza

Diamond drill hole EOIC-1128, the final hole from the 2011 drill campaign at Ilovitza, intersected 182 meters at 0.18% copper and 0.40 grams per tonne gold including 99.4 meters at 0.23% copper and 0.57 grams per tonne gold. This hole, drilled vertically to a depth of 635 metres, is located approximately 140 meters east of hole EOIC-1125 (187 meters at 0.23% copper and 0.39 grams per tonne gold announced August 11, 2011) and confirms that mineralization remains open to the east.

Summary of Results from Holes EOIC-1128
Hole
From (meters) To (meters) Length (meters ) Cu (%) Au(grams per tonne) Cu eq (%) Au eq(grams per tonne )
EOIC-1128 212 394 182 0.18 0.40 0.41 0.71
includes 235 334.4 99.4 0.23 0.57 0.56 0.96

Weighted averages are used to calculate all reported intervals.
A $1,200/oz Au price and $3/lb Cu price were used to calculate copper equivalent and gold equivalent grades using the conversion 1g/t Au = 0.583% Cu and assuming 100% metallurgical recovery.
All data from the 2011 drill program will be included in the updated NI43-101 compliant Ilovitza resource estimate expected to be completed in the first quarter of 2012.

"We are very pleased with this year's progress at Ilovitza," states Dr. Quinton Hennigh, Technical Advisor to EurOmax. "Our initial flotation tests have proved positive, the 2011 drill program has dramatically increased the size of the system and we have now formally applied for an exploitation concession on our project."

Ilovitza is a Tertiary copper-gold porphyry system, part of a province of such deposits in Macedonia and Greece that includes the 4 million ounce gold-800,000 tonne copper Skouries deposit in Greece. The Ilovitza Project is easily accessible by paved road, is near a rail line and just 75 km from a port facility.

Application for Exploitation Concession

EurOmax, through its wholly owned subsidiary in Macedonia, has filed all the documents required to apply for an exploitation concession on its Cu-Au porphyry project at Ilovitza. These documents include all the relevant applicant data, a topographic map with specific borders, a drawing or copy of the cadastre plan (surveyed coordinates of the drill holes and the corner points of the concession area), a concession project (conceptual study), a report of all the detailed exploration that has been performed to date, and an approved environmental impact assessment report.

A significant milestone was achieved in early November when the project underwent final public comments and review with strong support from both local and national levels.

Ownership of the Property:

EurOmax has exercised an option to acquire a 100% interest in the Ilovitza property from a major international mining company, subject to a back-in right. This major international mining company has until January 23, 2012 to either relinquish all interests in this property or to acquire a 70% interest in the property. If the back-in right is exercised, EurOmax will receive a payment of two times EurOmax's expenditures on the property (approximately US$3.3 million to date) and the major international mining company will agree to carry EurOmax's 30% interest through to completion of a final feasibility study.

Quality Control and Quality Assurance

Diamond drill hole samples were logged, cut and sampled by EurOmax personnel at the Company's sample preparation facility in Macedonia. Samples were also prepared at the sample preparation facility and submitted to Eurotest Control in Sofia, Bulgaria for assay. Eurotest Control is an ISO 9001 certified laboratory, which follows internationally accepted methods and procedures and has stringent quality control and assurance practices. Dr. Roger Moss, the qualified person for Ilovitza, has visited the laboratory of Eurotest Control and is satisfied that the sample preparation and analytical procedure is consistent with industry best practice. Gold was assayed by a 50 gram fire assay with an AAS finish, and copper was assayed by acid digest ICP-AES. Quality control samples, including duplicates, standards and blanks, were submitted with each sample batch by EurOmax.

Roger Moss, Ph.D., P.Geo., a member of the EurOmax Technical Advisory Board and a "qualified person" as defined by NI43-101, supervised the preparation of the technical information contained in this news release.

Euromax drills 66.7 meters at 1.23 gt at Trun

EurOmax Resources Ltd. (TSX VENTURE: EOX)(PINK SHEETS: EOXFF) ("EurOmax" or, the "Company") is pleased to announce results from the eight latest drill holes at its 100% controlled Trun Gold Project, Bulgaria. Results include 66.7 meters at 1.23 grams per tonne gold (219 feet at 0.036 oz per ton gold) including 14.8 meters at 2.28 grams per tonne gold (49 feet at 0.067 oz per ton gold) from drill hole MTC-1192, a step-out hole drilled at the Ruy target located at Big Hill in the northern part of the Trun Property. Earlier this year, the Company announced an intercept of 87 meters at 2.14 grams per tonne gold from drill hole MTC-1174 (see press release dated June 14, 2011) from the Ruy target, a 500 meter wide gold-in-soil anomaly. Drill hole MTC-1192 is located approximately 50 meters northwest of MTC-1174.

"In early September, we decided to increase this year's drill program from the originally planned 4,000 meters to over 10,000 meters in order to follow up on extremely encouraging drill results on multiple newly identified gold zones at Trun," states Dr. Quinton Hennigh, Technical Advisor to EurOmax. "We are very pleased with these new results, which validate that decision, and look forward to more results over the next few months."

Ruy Gold Zone at Big Hill

K2 Gold Zone at Little Hill

Seven drill holes tested various parts of the northwest striking and northeast dipping K2 gold zone located at Little Hill in the southern part of the Trun Property. Results for six drill holes have been received and are presented in the table below. Assays from the seventh drill hole, MTC-1193, have not yet been received.

The longest interval from the K2 gold zone is 100.5 meters at 0.50 grams per tonne gold (330 feet at 0.015 oz per ton gold) from drill hole MTC-1191. Four other drill holes encountered significant intervals of gold mineralization. Although gold grades from K2 are relatively low, most of the mineralization is near-surface and oxidized. Results from these drill holes coupled with previous drilling demonstrate good continuity of the K2 zone over a strike length of 600 meters and thickness of approximately 50 meters.





About the Trun Gold Project, Bulgaria

Gold mineralization at Trun is associated with large granite and syenite stocks that intrude a broad anticline of metamorphic rocks. The geologic setting and styles of mineralization display striking similarities to that of "tombstone-type" gold deposits in the Tintina Gold Belt of the Yukon and Alaska including the Ft. Knox gold deposit, Alaska and the Eagle gold deposit, Dublin Gulch, Yukon.

EurOmax has 100% control over approximately 67 square kilometers centered on the Big Hill and Little Hill granite intrusions, each with multiple associated gold-in-soil anomalies. The Logo resource, a NI 43-101 compliant inferred resource (see Technical Report on the Gold Resources at Trun Property dated January 31, 2011 which is available under the Company's profile on SEDAR at ) of 2.1 million ounces contained gold in 91 million tonnes at a grade of 0.70g/t Au (0.3g/t Au cut-off) occurs along the northeastern margin of the Big Hill Intrusion in the northern part of the property.

Smart and timely...

Thanks...been watching this one for a while and like all jpm's is taking a little hit. Just wondering if something was in the works. I'm long and trying to establish a position at these prices.

I called and talked to investors relations and they had no comment. I didn't see anything or hear anything but someone wanted to buy today.

Any ideas on the high volume and price run-up today?

EurOmax Intercepts 345 Metres at 0.24% Copper and 0.32 Grams Per Tonne Gold at Ilovitza

http://ih.advfn.com/news_EurOmax-Intercepts-345-Metres-at-0-24-Copper-and-0-32-Grams-Per-Tonne-Gold-at-I_49774015.html

EurOmax Begins Drilling Newly Developed Targets at Its 100% Controlled KMC Gold-Copper Project, Serbia

Read more: http://www.benzinga.com/pressreleases/11/10/m1993380/euromax-begins-drilling-newly-developed-targets-at-its-100-controlled-k#ixzz1b8eOS4bi

William P Armstrong is added to the board of directors

("EurOmax" or "the Company") is pleased to announce that Mr. William P. Armstrong, has been appointed to the Company's board of directors. Mr. Armstrong joined the Company's technical advisory board on April 21, 2011. He has visited and reviewed the Company's properties as well as provided his technical expertise on these properties.

Mr. Armstrong is a geological engineer with Bachelors and Masters of Applied Science degrees from the University of British Columbia and over 40 years of experience in the exploration and evaluation of base and precious metals projects worldwide. He retired from Teck Cominco Ltd. in 2006 after 41years, where he held the position of General Manager, Resource Evaluation for the last 10 years. In that role he managed a team that was responsible for all mineral reserves and resources at company properties for Teck Cominco and Cominco Ltd. He also headed a team of professionals responsible for evaluating and performing due diligence on potential acquisitions and divestitures.

Throughout his career, he was actively involved in the feasibility studies, construction and operation of many Cominco mines and joint ventures, notably Highland Valley Copper and the Polaris lead - zinc operations in the Canadian high Arctic and the Quebrada Blanca heap leach copper mine in Chile. He was also actively involved in feasibility and optimization projects at numerous other Cominco and Teck operations, including Pine Point (Canada), Red Dog (Alaska), Glenbrook Nickel (Oregon) and Antamina (Peru) and was a member of many joint venture management committees. Mr. Armstrong is currently a director of Taseko Mines Ltd.

John Nugent, Executive Chairman, states "Bill Armstrong brings to the EurOmax board a wealth of relevant industry experience necessary to assist the Company in maximizing the potential of its properties during exploration, and potentially through development to production. We welcome Bill to the board of directors and look forward to his contributions to our Company."

Mr. Armstrong's appointment is subject to the approval of the TSX Venture Exchange.

News out http://www.marketwire.com/press-release/euromax-receives-favourable-metallurgical-results-from-logo-resource-expands-drilling-tsx-venture-eox-1567089.htm

Positive metallurgical results From Logo

http://www.marketwatch.com/story/euromax-receives-favourable-metallurgical-results-from-the-logo-resource-and-expands-drilling-program-at-trun-gold-project-2011-09-29-93340?reflink=MW_news_stmp

EurOmax Discovers New Gold Zones at its Trun Gold Project, Bulgaria

http://www.sys-con.com/node/1954307

Euromax Gains 100% control of its KMC property in Serbia

http://www.4-traders.com/EUROMAX-RESOURCES-1409896/news/EUROMAX-RESOURCES-EurOmax-Gains-100-Control-of-its-KMC-Property-Serbia-13723320/

Euromax Confirms Another Gold Zone at Trun - Drilling Encounters 24 Meters at 7.36 Grams per Tonne Gold at the Nadejda Target

http://www.euromaxresources.com/i/pdf/news/2011-07-20_NR.pdf