Mr. Tim Morgan-Wynne reports

EUROMAX ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Euromax Resources Ltd., further to its news release dated Dec. 15, 2025, has closed the first tranche of its previously announced non-brokered private placement through the issuance of 48,838,542 common shares of the company at a subscription price of 3.25 Canadian cents (2.299 U.S. cents) per common share for aggregate gross proceeds of $1,587,252.62 (Canadian) ($1,123,003.12 (U.S.)).

A second and final tranche of the private placement of 73,257,815 remaining common shares for additional gross proceeds of $2,380,878.99 (Canadian) ($1,684,504.73 (U.S.)) is expected to close as soon as practicable in January, 2026.

The placees of the first tranche included one insider of the company and other investors.

The common shares issued pursuant to the first tranche are subject to a hold period of four months and one day from the date of issuance, expiring on May 1, 2026, in accordance with the policies of the TSX Venture Exchange and applicable securities laws.

The gross proceeds from the common shares issued pursuant to the first tranche will be used as follows:

1. Office, administration and communications costs -- 20 per cent;
2. Salaries -- 31 per cent;
3. Legal and administrative fees -- 18 per cent;
4. Finance costs -- 7 per cent;
5. Project working capital -- 9 per cent;
6. Tax, audit and accounting fees -- 15 per cent.

Amounts representing 6 per cent of the proceeds of the private placement will be used to finance normal salary payments to non-arm's-length parties. Amounts representing up to 5 per cent of the proceeds of the private placement may be used to finance payments to persons conducting investor relations activities within the meaning of the policies of the TSX-V.

As certain of the first tranche placees are related parties of Euromax, in completing the first tranche, the company relied on the exemptions from the formal valuation and minority approval requirements of Policy 5.9 of the TSX-V and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively.

The private placement remains subject to the final acceptance of the TSX-V.

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.