Euromax Resources Wins Court Ruling Restoring Merger Approval for Macedonian Concessions

Euromax Resources Ltd. (TSXV: EOX) announced today that the Higher Administrative Court has accepted the company's case against the withdrawal of the merger approval for its two exploitation concessions in North Macedonia, effectively annulling the 2023 Withdrawal Decision and restoring the original Merger Approval. The ruling reinstates the government's earlier approval to merge the Ilovica 6 and Ilovica 11 concessions, which are part of the company's flagship Ilovica-Shtuka gold-copper project.

The decision marks a significant legal victory for Euromax, which had challenged the government's reversal of the merger approval. The company had argued that the Withdrawal Decision was procedurally flawed and lacked proper justification. With the court's ruling, the Merger Approval is now considered to have never been rescinded, providing regulatory clarity for the project's development.

Tim Morgan-Wynne, Chief Executive Officer of Euromax, expressed the company's satisfaction with the court's decision. "The Company is delighted that the Higher Administrative Court has restored the Merger Approval previously issued by the Macedonian Government in 2023. We now look forward to finalising the new agreement with the relevant State institutions and starting to contribute economic growth for the local and national economies," he said.

The Ilovica-Shtuka project is one of the largest undeveloped gold-copper deposits in Europe, with significant potential to boost the regional economy. The merger of the two concessions is expected to streamline operations and facilitate a more efficient development plan. Euromax has been working to secure all necessary approvals to move the project toward construction and production.

Investors reacted positively to the news, as the ruling removes a major regulatory hurdle that had stalled progress. The company now expects to finalize agreements with state institutions and advance the project, which could create jobs and generate tax revenue for North Macedonia. However, the company cautioned that forward-looking statements, including those related to the timing of agreements and project milestones, are subject to risks and uncertainties detailed in its filings on SEDAR+.

Euromax Resources is focused on building and operating the Ilovica-Shtuka gold-copper project in North Macedonia. More information is available on the company's website at www.euromaxresources.com.