Euromax Resources Closes $8 Million Non-­‐Brokered Private Placement

TSX-­‐V:  EOX;  OTCQX:  EOXFF www.euromaxresources.com

Euromax  Resources  Closes  $8  Million  Non-­‐Brokered  Private  Placement    

Euromax  Resources  Ltd.  8  March  2013  (TSX-­‐V:  EOX;  OTCQX:  EOXFF):  (“Euromax”  or  the  “Company”)  is  pleased  to announce  that  it  has  closed  the  previously  announced  non-­‐brokered  private  placement  to  raise  gross  proceeds  of $8   million   (the   “Private   Placement”)   through   the   issuance   of   a   total   of   14,814,815   common   shares   of   the Company  at  a  price  of  $0.54  per  share.    All  of  the  shares  issued  in  connection  with  the  Private  Placement  are subject  to  a  four  month  hold  period  expiring  8  July  2013.

Euromax  intends  to  use  the  proceeds  of  the  Private  Placement  to  further  the  accelerated  development  of  its flagship   Ilovitza   project,   resource   definition   and   progression   of   its   other   properties   and   for   general   working capital  purposes.

Investec  Bank  plc  Appointment  update  

As  previously  announced,  Investec  Bank  plc  (“Investec)  has  been  appointed  as  Lead  Banker  to  perform  the  roles of  Global  Project  Finance  Co-­‐ordinator  and  Treasury  Arranger  to  the  Company  in  consideration  for  which  the Company   agreed,   subject   to   TSX   Venture   Exchange   (“TSXV”)   approval,   to   issue   to   Investec   common   share purchase  warrants  (the  “Warrants”)  as  set  out  in  the  Company’s  press  release  of  23  January  2013.  The  parties have  subsequently  entered  into  an  amended  and  restated  letter  agreement  whereby  the  circumstances  under which  the  issuance  of  the  Warrants  would  be  triggered  were  amended  in  order  to  address  comments  received from  the  TSXV.

About  Euromax  Resources  Ltd.  

Euromax   is   a   Canadian   exploration   and   development   company   with   three   gold   and   base   metal   assets   in Macedonia,  Bulgaria  and  Serbia.  We  are  focused  on  identifying,  acquiring  and  developing  mineral  resources  in South  Eastern  Europe  with  the  objective  of  becoming  a  world-­‐class  mining  company  in  the  region.  Our  strength  is our  local  staff,  knowledge  and  technical  expertise  in  Bulgaria,  Serbia  and  Macedonia.

This  news  release  contains  forward-­‐looking  statements  including  but  not  limited  to  statements  regarding  the  use  of  proceeds  from  the   Private  Placement.    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.    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.   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.  

This  news  release  does  not  constitute  an  offer  to  sell  or  solicitation  of  an  offer  to  sell  any  securities  in  the  United  States.    The  securities  have   not  been  and  will  not  be  registered  under  the  United  States  Securities  Act  of  1933,  as  amended  (the  “U.S.  Securities  Act”)  or  any  state   securities  laws  and  may  not  be  offered  or  sold  within  the  United  States  or  to  U.S.  Persons  unless  registered  under  the  U.S.  Securities  Act  and   applicable  state  securities  laws  or  an  exemption  from  such  registration  is  available.  

For  more  information,  please  contact:

Steve  Sharpe,  President  &  CEO  

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

Karen  Atchison,  Investor  Relations  Manager  

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

For  further  information  please  visit  www.euromaxresources.com