EurOmax Resources Ltd.

EurOmax Resources Ltd.

April 20, 2012 18:40 ET

EurOmax to Seek Shareholder Approval for a Share Consolidation at Annual General and Special Shareholder Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2012) - EurOmax Resources Ltd. (TSX VENTURE:EOX)(OTCQX:EOXFF) ("EurOmax" or "the Company") 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.

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.

This news release contains forward-looking statements including but not limited to statements regarding proposed director nominees and a proposed consolidation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on information currently available to the Company as well as the Company's current beliefs and assumptions made by the Company, including that the proposed director nominees will stand for election and that shareholder and regulatory approval of the proposed consolidation can be obtained by the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, that the proposed director nominees will not be able or will not continue to be willing to stand for election and that shareholder and regulatory approval of the proposed consolidation cannot be obtained by the Company. Readers are also encouraged to review all Company documents filed with the securities authorities in Canada, including the Management Discussion and Analysis in respect of the Company's recent financial statements under the heading "Operational and Other Business Risks", which documents describe material factors and assumptions and risks that apply to the forward-looking statements in this release. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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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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