Mr. Tim Morgan-Wynne reports

EUROMAX ANNOUNCES REPAYMENT OF DEBT OWED TO GALENA

Euromax Resources Ltd. has entered into a debt settlement agreement (DSA) dated Aug. 5, 2025, to settle in full the outstanding debt owing to one of its current major shareholders, Galena Resource Equities Ltd., an entity controlled and managed by Galena Asset Management S.A., which is an affiliate of Trafigura Pte. Ltd., under the non-interest-bearing, unsecured, non-convertible promissory note issued to Galena in April, 2025, in the amount of $475,000 (U.S.).

In connection with repayment of the debt, Euromax will be issuing to Galena 43,747,183 common shares in the capital of the company, at a deemed offering price of 1.5 Canadian cents per common share.

The board of directors of the company has determined that it is in the best interests of the company to settle the outstanding debt by entering into the transaction in order to preserve the company's cash for continuing operations.

Closing of the transaction is subject to customary closing conditions, including the final acceptance of the TSX Venture Exchange. The company intends to close the transaction as soon as practicable. The common shares to be issued pursuant to the transaction will be subject to a hold period of four months and one day from the date of issuance.

The transaction is not expected to materially affect control of the company. As Galena is a related party of Euromax under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, in completing the transaction, the company intends to rely on the exemptions from the formal valuation and minority approval requirements of Policy 5.9 of the TSX-V, and sections 5.5(b) and 5.7(1)(a) of MI 61-101.

Prior to completion of the transaction, Galena owns 356,983,664 common shares and an additional 46,600,652 common shares by exercising all of its warrants of the company (each warrant exercisable for one common share), for an aggregate beneficial ownership of common shares of 403,584,316, representing an aggregate ownership interest of approximately 53.27 per cent (on a postconversion and postexercise basis, and excluding any exercise by any other securityholders of the company of convertible or exchangeable securities owned by them).

Following completion of the transaction, including the common shares of the company that it currently owns, Galena would be entitled to beneficially own and control 447,331,499 common shares for an aggregate ownership interest of 55.82 per cent (on a postconversion and postexercise basis) of the issued and outstanding common shares, representing an increase in beneficial ownership of 2.55 per cent (on a postconversion and postexercise basis, and excluding any exercise by any other securityholders of the company of convertible or exchangeable securities owned by them) of the issued and outstanding common shares of the company.

Depending on market conditions and other factors, Galena may from time to time acquire and/or dispose of securities of the company, or continue to hold its current position.

To obtain a copy of the early warning report filed in connection with this news release, please contact James Burke at james.burke@trafigura.com.

Galena's head office is located at 1 rue de Jargonnant, 1207, Geneva, Switzerland.

About Euromax Resources Ltd.

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

We seek Safe Harbor.