EurOmax Resources Ltd.
TSX VENTURE : EOX

December 01, 2010 09:01 ET

EurOmax Announces New Technical Advisory Board, Chief Financial Officer and Investor Relations Firm

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2010) - EurOmax Resources Limited (TSX VENTURE:EOX) ("EurOmax" or the "Company") is pleased to announce the appointment of the following personnel, all of whom have been selected for their ability to contribute to the execution of the Company's transition plan.

Technical Advisory Board – On November 30, 2010, Dr. Roger Moss and Dr. Quinton Hennigh were appointed to the Company's newly formed technical advisory board.

Dr. Moss is a professional geologist with 15 years of international exploration experience, including ten years in senior management positions with Amerigo Resources Ltd., Nikos Explorations Ltd., and Los Andes Copper Ltd. Dr. Moss was instrumental in the discovery of the Navachab gold deposit in Namibia, which after 13 years of operation still contains reserves and resources of 3.7 million gold ounces. Dr. Moss has conducted extensive research on hydrothermal ore deposits, culminating with a Ph.D. in geology at the University of Toronto in 2000, and has held the post of Adjunct Professor in the Division of Mineral Engineering at the University of Toronto since 2008.

Dr. Hennigh is an economic geologist with more than 20 years of exploration experience. Over the past three years as President and Chief Geologist of Evolving Gold Corp., Dr. Hennigh developed a world class portfolio of gold exploration properties. Prior to joining Evolving Gold, 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. More recently, Dr. Hennigh has taken on advisory roles with companies including Gold Canyon Resources where he helped build a successful exploration program giving new life to Gold Canyon's Springpole deposit in Ontario. He earned a M.Sc. and a Ph.D in geology and geochemistry from the Colorado School of Mines in 1993 and 1996, respectively.

"We are very fortunate to have secured the experience and talent of both Roger and Quinton", commented John Nugent, Executive Chairman of EurOmax. "We look forward to their technical contributions as we complete our formal properties review and beyond."

Chief Financial Officer – Effective November 30, 2010, Ms. Aurora Davidson has assumed the role of Chief Financial Officer of the Company. Ms. Davidson holds a Certified General Accountant designation from the Certified General Accountants Association of British Columbia and a BSc in Business Administration from Alliant International University in San Diego, California. She has more than 20 years of experience in financial and general business management assisting private and public companies in the roles of Chief Financial Officer, Vice-President, Finance and Corporate Controller within the mining and high technology sectors. Since 2003, Ms. Davidson has focused on providing CFO services predominantly to companies in the mining sector, including Amerigo Resources Ltd.

Investor Relations Firm – Effective December 1, 2010, EurOmax has retained San Diego Torrey Hills Capital, Inc. ("Torrey Hills Capital") to act as investor relations consultants to the Company.

Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and micro-cap companies, primarily in the natural resource sector. Torrey Hills Capital has been retained to increase awareness about EurOmax through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow EurOmax to build and maintain an informed investor audience in both the U.S and Canadian marketplace.

Torrey Hills Capital has also agreed to develop a profile on EurOmax for coverage on its website, www.babybulls.com, a website developed to showcase and provide exposure for emerging micro-cap companies to an audience of proven micro-cap investors.

Torrey Hills Capital has been engaged for an initial term of six months at a monthly fee of US$6,000 with an option to renew for a further term at the mutual agreement of both parties. In addition, EurOmax has agreed to grant to Torrey Hills Capital options to purchase 375,000 common shares. These options are exercisable for five years at a price of $0.13 per share and vest 25% on grant, 25% after 3 months, 25% after 6 months and 25% after 9 months.

Stock Options – The Company has granted a total of 5,200,000 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 $0.13 per share and, with the exception of the options granted to Torrey Hills Capital, vest 34% on grant, 33% after six months and 33% after 12 months. Insiders of the Company were granted a total of 3,750,000 options.

"As part of implementing our transition plan we are very fortunate to recruit Aurora as our CFO," commented Mark Gustafson, President and Chief Executive Officer of EurOmax. "Aurora has worked with two of our directors on several mining projects in the past and we are pleased to now welcome her to the EurOmax team. As for Torrey Hills Capital, I have worked with our new investor relations firm for the past five years on other projects and look forward to working together again to broaden and renew investor awareness for EurOmax."

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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