Euromax Resources

Contact us on info@euromaxresources.co.uk Euromax Resources is a Canadian exploration and development company, focused on building and operating its Ilovica-Shtuka copper/gold project in Macedonia. Euromax is listed on the TSX under the ticker "EOX". Euromax has a clear business plan to develop into a mid-tier producer, and has the technical, financial, permitting and corporate skills in place to get there. Ilovica-Shtuka, in the mining-friendly jurisdiction of Macedonia, South Eastern Europe, is a large-scale gold-copper porphyry deposit with simple metallurgy. The project, wholly owned by Euromax, has an Environmental Impact Study (EIS) approved as well as a 30-year Exploitation Concession. Ilovica lies 20km from Strumica with all of the excellent local infrastructure and logistics that one would expect of a European location. Following the completion of an extensive in-fill drill programme and resource upgrade, a maiden mineral reserve and pre-feasibility study results were announced, while in January 2016 the Company announced the feasibility study (FS) results. The FS supports the economic robustness of the Project previously indicated by the pre-feasibility study and, through the optimization of the processing flow sheet and a more precise level of costing, demonstrates significant reductions in both capex and operating costs, and a consequential increase in the IRR. The initial capital spend for a 10 million tonnes per annum project is estimated at US$474.3 million and the project will produce approximately ounces gold and tonnes copper per year over a 20 year mine life.