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09/12/2011

EurOmax CEO says it has a “substantial inferred resource base” of 5.8Moz gold

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Additional Information
Market: TSX-V
Sector: General Mining - Gold
EPIC: EOX
Latest Price: C$0.20  (-4.76% Descending)
52-week High: C$0.40
52-week Low: C$0.15
Market Cap: C$33.32M
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EurOmax Resources
www.euromaxresources.com

EUROMAX RESOURCES LIMITED is a Canadian company focused on gold and copper exploration in the resource rich region of Bulgaria, Macedonia and Serbia. Our technical excellence, local expertise and international contacts have made us one of the most successful exploration companies in Southeastern Europe.

Our aim is to explore high-quality, potentially world class gold and copper systems, then partner with local or international companies that have the financial and technical resources to develop them, thereby generating long-term value for EurOmax shareholders.

Full EurOmax Resources profile here
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EurOmax extends mineralization at Ilovitza to the east

11th Aug 2011, 8:39 pm by Deborah Sterescu

EurOmax Resources (CVE:EOX) announced Thursday results from three drill holes at its Ilovitza copper-gold project in Macedonia, extending mineralization by an additional 150 metres to the east.

Highlights from results, part of the 4,00 metre, 2011 diamond drill program at the site, include 0.29% copper and 0.46 grams per tonne (g/t) of gold over 187 metres in hole EOIC-1123.

In addition, 187.4 metres of 0.23% copper and 0.39 g/t gold were drilled in hole EOIC-1125, the eastern-most hole drilled to date at the project, including 102.4 meters at 0.28% copper and 0.56 g/t gold.

The mineral exploration company said all three step-out holes were drilled on the eastern side of the deposit, where it currently remains open.

"Although sulfide mineralization does not reach surface here, it is clear that the deposit remains wide open in that direction," said technical advisor to EurOmax, Dr. Quinton Hennigh.

"Our 2011 drilling program has now expanded the footprint of known mineralization by about 20-25%."
Moreover, hole EOIC-1124, drilled vertically along the northeast edge of the deposit, encountered 162 meters at 0.18% copper and 0.25 g/t gold.

Ilovitza is a tertiary copper-gold porphyry system, part of a province of such deposits in Macedonia and Greece that includes the 4 million ounce gold and 800,000 tonne copper Skouries deposit in Greece.

EurOmax holds an option on the project from an international mining company, and the property is subject to back-in rights once a certain drilling commitment has been met, it said.

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