Concerned Shareholders of EurOmax Resources Ltd.

August 25, 2010 09:00 ET

Concerned Shareholders of EurOmax Resources Ltd. Have Been Forced to Seek Court Confirmation of Votes Cast

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2010) - At the Annual General Meeting ("AGM") of the shareholders of EurOmax Resources Ltd. ("EurOmax") commenced on August 24, 2010, Anthony Patriarco and Mark Gustafson (the "Concerned Shareholders") were extremely pleased with the voting support they received from EurOmax shareholders.

The proxy tabulation report for the AGM prepared by Computershare Trust Company of Canada, the scrutineer for the AGM, provided the following voting results: out of approximately 120 million outstanding shares, the slate of directors proposed by management of EurOmax received approximately 26 million votes, versus approximately 59 million shares voted for the dissident slate of directors comprised of John Nugent, Mark Gustafson, Don Siemens and Randal Matkaluk. Another approximately 10 million shares voted for the dissident slate of directors were not recognized as validly voted shares on the proxy tabulation report because the scrutineer did not receive omnibus proxies supporting the voting of these shares through certain U.S. brokerage firms. The Concerned Shareholders would like to thank shareholders for voting a total of approximately 69 million shares for the dissident slate of directors, or 72% of the approximately 95 million shares that were voted for either slate of directors.

However, the AGM was adjourned – over the objection of the Concerned Shareholders - before any business was conducted. In response to requests made by management of EurOmax to the Chairman to disallow votes in support of the Concerned Shareholders, and after considering submissions made by management of EurOmax and the Concerned Shareholders, the Chairman of the AGM adjourned the AGM until 10:00 a.m. on September 3, 2010 unless, prior to 4:00 p.m. on September 1, 2010, an application is made to the British Columbia Supreme Court for directions as to the validity of the votes cast in support of the Concerned Shareholders. The Chairman of the AGM has committed to complete the business of the AGM and accept the votes as stated on the proxy tabulation report if the AGM is reconvened on September 3, 2010.

The Concerned Shareholders are very disappointed with this development, and will endeavour to see the fundamental right of all shareholders to vote honoured and the dissident slate elected.

Mark Gustafson states, "We thank the shareholders of EurOmax for their overwhelming support for the election of our director nominees, and we share the frustration of holders of a majority of the outstanding shares of EurOmax with the adjournment of the AGM. We intend to aggressively press for a timely resolution by the court."

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