VANCOUVER, BC, July 5, 2023 /CNW/ - (TSX: EOX): ("Euromax" or the "Company") announces that the Government of the Republic of North Macedonia (the "Government") has issued its approval of the merger of the Company's Ilovica 6 and Ilovica 11 exploitation concessions, based on the announcement in the Official Gazette no. 141. The Government has now passed this matter to the Ministry of Economy to achieve a constructive outcome in relation to the new merged concession.  The new merged concession will only be valid upon signature of the annex implementing this decision.

Tim Morgan-Wynne, Executive Chairman, stated: "The Company appreciates the decisive action taken by the Government of the Republic of North Macedonia and now looks forward to finalising the new agreement with the relevant State institutions."

About Euromax Resources Ltd.

Euromax has a major development project in North Macedonia and is focused on building and operating the Ilovica-Shtuka gold-copper project.