Euromax Announces Results of Annual General Meeting and New Board Appointments

VANCOUVER, BC, Sept. 21, 2020 /CNW/ - Euromax Resources Ltd - (TSX: EOX): ("Euromax" or the "Company") is pleased to report that all resolutions proposed, as set out in the Notice of Meeting dated 14 August 2020, were duly passed at its Annual General Meeting held in Skopje, North Macedonia on Friday, September 18, 2020.

At the Meeting, each of the individuals nominated by management for election as a director of the Company were duly elected and the number of directors of the Corporation was fixed at five (5) in accordance with the Corporation's Articles. The results are as follows:

Name of Nominee	Vote For			%
James Burke	181,612,593			99.93%
Martyn Konig	181,650,093			99.95%
Tim Morgan-Wynne	181,717,181			99.99%
Nicolas Treand	181,334,681			99.78%
Ivan Vutov	181,262,668			99.74%

As a result of Varshan Gokool's resignation, effective August 31, 2020, Mr. Gokool was not included in the management slate of director nominees put forward at the Meeting.

Re-Appointment of Auditors

BDO LLP were re-appointed as auditors of the Corporation, to hold office until the next annual general meeting of Shareholders, and the directors were authorized to fix their remuneration.

The Board & Management wishes to express its thanks to all shareholders for their support.

Board Appointments

Euromax is also pleased to announce that Stanislav Delchev has been appointed as a Non-Executive Director of the Company.

Mr. Delchev joins the Board of Directors and takes the position as Director nominated by Galena Resource Equities Limited and is currently Deputy Finance Director in Geotechmin OOD and Director in Geotechmin Services EOOD. Before joining the Geotechmin Group, Mr. Delchev had more than 15 years of experience in the audit practice, whereby 2 years spent in KPMG office in the Channel Islands and 6 years in KPMG office in Bulgaria. Mr. Delchev holds a Master's degree from University of National and World Economics for Accounting and Control, and he is a Fellow member of the Association of Chartered Certified Accountants (ACCA) in UK.

The Company further announces that the following members have been appointed to the Board Committees:

Audit Committee

Stanislav Delcev (Chair), James Burke and Martyn Konig

Compensation Committee

Martyn Konig (Chair), Tim Morgan-Wynne and James Burke

Technical Committee

Greg Morris (Chair), Patrick Forward and Vladislav Trashliev

About Euromax Resources Ltd.

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

Forward-Looking Information

This news release contains statements that are forward-looking, such as those relating to results of operations and financial condition, capital spending, financing sources, commodity prices, mineral resources and property evaluation plans and programmes. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the dates the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking statements contained in this document are as of the date of this document, and are subject to change after this date. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Euromax disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Euromax Resources

please visit www.euromaxresources.com or contact: Tim Morgan-Wynne, Executive Chairman, [phone], [email protected]

Related Links

www.euromaxresources.com