Euromax Issues Warrants to Investec Bank plc

TSX-­‐V:  EOX www.euromaxresources.com

Euromax  Issues  Warrants  to  Investec  Bank  plc  

Euromax  Resources  Ltd.  18  July  2014  (TSX-­‐V:  EOX):  ("Euromax"  or  the  "Company")  announces  that  it  has  issued to   Investec   Bank   plc   ("Investec")   a   total   of   12,195,122   warrants   (the   "Warrants")   pursuant   to   the   letter agreement  dated  February  22,  2013,  as  amended  April  3,  2014,  between  the  Company  and  Investec,  the  terms  of which  were  previously  announced  in  the  Company's  news  releases  dated  January  23  and  March  8,  2013.    Each Warrant  is  exercisable  to  acquire  one  common  share  of  the  Company  (a  "Share")  at  a  price  of  C$0.41  per  Share until  July  18,  2019.

As  a  result  of  the  aforementioned  issuance:  (a)  Investec  now  holds  9,259,259  Shares  and  12,195,122  Warrants, representing  approximately  10.85%  of  the  Company's  outstanding  Shares  on  an  undiluted  basis  and  22%  on  a partially  diluted  basis  (assuming  exercise  in  full  of  the  Warrants  held  by  Investec  only);  and  (b)  Investec  could become  a  "Control  Person",  as  defined  under  the  policies  of  the  TSX  Venture  Exchange  ("TSXV"),  of  the  Company upon  exercise  of  the  Warrants.

The  certificate  representing  Warrants  provides  that  Investec  shall  not  be  entitled  to  exercise  the  Warrants  where, following  such  exercise,  Investec  would  hold  more  than  19.9%  of  the  then  issued  and  outstanding  Shares,  unless the  Company  has  received  shareholder  and  any  other  requisite  approvals.    Accordingly,  the  Company  may  seek shareholder  approval  in  respect  of  the  foregoing  at  the  next  scheduled  meeting  of  shareholders.

In  addition,  in  the  event  that  Investec  wishes  to  transfer  all  or  a  portion  of  the  Warrants  representing  more  than 10%  of  the  then  issued  and  outstanding  Shares,  Euromax  would  have  the  right  to  match  or  find  an  alternative purchaser  for  such  Warrants.

About  Euromax  Resources  Ltd.

Euromax  is  a  Canadian  exploration  and  development  Company  with  gold  and  base  metal  assets  in  Macedonia and  Serbia  and  an  exploration  services  company  in  Bulgaria.  We  are  focused  on  developing  mineral  resources  in Southeastern  Europe,  with  the  objective  of  becoming  a  world-­‐class  mining  company  in  the  region.  Our  strength lies  in  our  corporate  and  local  management  and  technical  expertise  in  Macedonia,  Bulgaria  and  Serbia.

This  news  release  contains  forward-­‐looking  statements  including  but  not  limited  to  statements  regarding  the  potential  creation  of  a  new   Control  Person  and  the  Company  seeking  shareholder  and  other  requisite  approvals  in  respect  of  same.    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  at  all  relevant  times  the   outstanding  Shares  remain  at  a  number  at  which  the  holdings  of  Investec  would  exceed  20%  of  outstanding  Shares  on  a  partially  diluted   basis.    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  include,   among   others,   that   the   Company   will   not   receive   the   updated   resource   estimates   or   the   necessary   regulatory   approvals   within   the   anticipated  time  frame.    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.  

Neither  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.  

For  more  information,  please  visit  www.euromaxresources.com  or  contact:

Steve  Sharpe,  President  &  CEO  

+44  (0)20  3667  2970 [email protected]

Varshan  Gokool,  Chief  Financial  Officer  

+44  (0)20  3667  2970 [email protected]