Euromax Resources Ltd.
TSX VENTURE : EOX
OTC PINK : EOXFF

Euromax Resources Ltd.

August 28, 2015 08:36 ET

Euromax Announces Project Manager Appointment and Related Award of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 28, 2015) - Euromax Resources Ltd. (TSX VENTURE:EOX)(OTC PINK:EOXFF) ("Euromax" or the "Company"), is pleased to announce that it has appointed Alan Baker as Vice President, Project & Construction Manager for its Ilovica Project in Macedonia.

Alan brings over 35 years of experience in the mining sector and has a proven track record in successful project management and construction. He will take responsibility for developing and leading the on-site owner's team ready for the construction of the Ilovica project. He previously acted as Project Manager on the Santa Rosa gold deposit in Colombia for Red Eagle Mining where he took responsibility for the project feasibility study and final permitting and on through to project financing. Alan has previously been responsible for:

  • Project management of the Certej project in Romania for European Goldfields Ltd and subsequently Eldorado Gold Corp where he helped advanced the project through feasibility, basic engineering and financing;
  • The Construction of a heap leach operation including process plant, mine and associated infrastructure of the Copler mine in Eastern Turkey for Anatolia Minerals;
  • Managing the design and construction of the Varvarinskoye gold-copper open pit mine, process plant and associated infrastructure in Kazakhstan for European Minerals;
  • Overseeing the refurbishment of Bondaye CIL plant at the Bogoso mine in Ghana for Golden Star Resources.
  • Project coordination and construction with an annual budget of up to US$100 million at Ashanti Goldfields.
  • In his early career Alan worked in the UK, South Africa and Zambia on a variety of mining projects.

As part of his compensation package Alan has been awarded 400,000 five year options at a strike price of CAD 0.49 which will vest equally over a three year period under the terms of the Company's existing Long Term Incentive Plan.

Commenting on this appointment, Steve Sharpe, President & CEO noted:

"Alan is very well known to us from our European Goldfields days and his expertise in project development is, in our opinion, unrivalled. By bringing Alan on board several months ahead of the publication of the Ilovica Definitive Feasibility Study, it will allow him and his team undertake the necessary groundwork so as to prepare us to seamlessly transition from DFS/FEED straight into construction, which is anticipated to commence in the fourth quarter of 2016."

About Euromax Resources Ltd.

Euromax has a major development project in Macedonia and an exploration services company in Bulgaria. We are focused on building and operating the Ilovica copper/gold project in Macedonia, as well profitably deploying the wealth of exploration experience within our Bulgarian Exploration Services subsidiary.

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

This document contains statements that are forward-looking, such as those relating to results of operations and financial condition, capital spending, financing sources, commodity prices, mineral resources and property evaluation plans and programmes. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the dates the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking statements contained in this MD&A are as of the date of this document, and are subject to change after this date. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Euromax disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, please visit www.euromaxresources.com.

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