Mr. Tim Morgan-Wynne reports

EUROMAX ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING

All resolutions proposed, as set out in the notice of meeting dated May 18, 2023, were duly passed at Euromax Resources Ltd.'s annual general meeting held in Skopje, Republic of North Macedonia, on Monday, June 26, 2023.

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 Company was fixed at eight (8) in accordance with the Company's Articles. The results are as follows:

Name of Nominee          Vote For         % (1)

Tim Morgan-Wynne      308,082,872       98.98 %
Ali Vezvaei           308,087,872       98.98 %
Nicolas Treand        308,087,872       98.98 %
Martyn Konig          308,095,031       98.98 %
James Burke           308,095,031       98.98 %
Ivan Vutov            308,087,872       98.98 %
Stanislav Delchev     308,090,031       98.98 %
Patrick Forward       308,082,872       98.98 %

(1) 1 out of 311,270,579 registered votes that vote for proposed nominees

Re-Appointment of Auditors

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

Approval of the amended the Company's Restricted Share Unit plan ("RSU Plan")

The proposed increase of the RSU Plan's limit to 49,001,332 common shares was approved.

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

Board Appointments

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

• Audit Committee -- Stanislav Delchev (Chair), James Burke, Martyn Konig and Ali Vezvaei;
• Compensation Committee -- Martyn Konig (Chair), Ali Vezvaei and James Burke;
• Technical Committee -- Greg Morris (Chair), Tim Morgan-Wynne and Patrick Forward.

Notice for eligibility for continued listing on Toronto Stock Exchange ("TSX")

The Company also announces that it has received notice from the TSX that the TSX is reviewing the eligibility for continued listing of the Company's securities pursuant to Part VII of the TSX Company Manual. Specifically, the TSX is reviewing the continued listing criteria outlined in sections 709, 710(a)(i) (financial conditions and/or operating results), section 710(c)(i) (minimum required expenditures of C$350,000 on exploitation and/or development work or C$3 million from sale of commodities in the most recent year), section 710(c)(ii) (applicable working capital and appropriate capital structure) and section 716 (management deficiencies or corporate governance). The Company is being reviewed under the Remedial Review Process and has been granted 120 days to comply with all requirements for continued listing. If the Company cannot demonstrate that it meets all TSX requirements set out in Part VII of the Manual on or before October 20, 2023, the Company's securities will be delisted 30 days from such date. The Company will examine whether the TSX Venture Exchange would be a more appropriate exchange for the listing of its securities.

Appointment of Chief Executive Officer ("CEO")

Tim Morgan-Wynne, who is acting as Executive Chairman, has been appointed as CEO of the Company. This appointment satisfies one of the above outlined criteria for the TSX review on the eligibility for continued listing of the Company, i.e. section 716 (management deficiencies or corporate governance).

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.

We seek Safe Harbor.