EuroMax and Silk Road announce friendly business combination



    /THIS NEWS RELEASE AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR
    DISTRIBUTION IN THE UNITED STATES./

    VANCOUVER, Feb. 23 /CNW/ - EurOmax Resources Limited ("EurOmax") (TSX-V:
EOX) and Silk Road Resources Ltd. ("Silk Road") (TSX-V: SIL) are pleased to
announce that they have entered into a letter of intent with regard to a
proposed business combination (the "Transaction") to create a stronger mineral
exploration company with enhanced financing potential.
    The Transaction will be structured as a Plan of Arrangement under the
Canada Business Corporations Act.

    
    HIGHLIGHTS OF THE TRANSACTION

    -  On completion of the transaction each Silk Road common share will be
       automatically exchanged for 2.2535 EurOmax common shares and Silk Road
       will become a wholly owned subsidiary of EurOmax.

    -  On completion of the Transaction, EurOmax will have approximately 112
       million shares outstanding.

    -  The President & CEO of the resulting Company will be John C. Menzies
       and the non Executive Chairman of the board of directors will be
       appointed by Silk Road. The board of directors will have three
       representatives of each of EurOmax and Silk Road.

    -  The board of directors of each company have approved the Transaction
       unanimously.

    -  Shareholders representing 26% of EurOmax and 35% of Silk Road have
       agreed to enter agreements to vote in favour of the Transaction.
    

    THE NEW EUROMAX

    After the combination, EurOmax will have a broad portfolio of gold and
base metal mineral exploration properties in Southeast Europe and gold
exploration properties in Gansu Province, China.
    Significant expressions of interest have been received for the sale of a
number of the Chinese gold exploration properties.
    In Southeast Europe, the combined company's assets will include:

    
    -  The Ceovishte project in Serbia, where recent exploration has
       identified a series of ancient gold and lead-silver workings extend
       over a strike of nearly 5 kilometres. At the southern end of this
       trend a 2 square kilometer gold bearing silica breccia has been
       identified surrounding an altered diorite intrusion. Ancient overgrown
       open pits up to several hundred metres wide cover much of the silica
       breccia. At the northern end of this trend one drill hole encountered
       12.4 metres at 1.5% copper, 1.4% lead, 0.8% zinc, 62 grams per tonne
       silver and 1.6 grams per tonne gold.

    -  The Karavansalija project in Serbia covers a 60 square kilometre
       alteration zone and two mineralized centres. Drilling on the property
       has produced numerous significant intersections including 42 metres at
       2.05 grams per tonne gold, 0.76% nickel and 0.06% cobalt included in
       111 metres at 1.30 grams per tonne, 0.43% nickel, 0.03% cobalt in
       drill hole 0828; 120 metres grading 0.55 grams per tonne gold, 0.48%
       copper and 3.2 grams per tonne silver in drill hole 0829; 235 metres
       grading 1.08 grams per tonne gold in drill hole 0831 and 166 metres
       grading 0.63 grams per tonne gold, 0.58% copper, including 63 metres
       at 1.01 grams per tonne and 1.05% copper in drill hole 0611.

    -  The Ilovitza copper-gold-molybdenum project in Macedonia, where it has
       received an independent Mineral Resource estimate by Broad Oak
       Associates of Toronto, Ontario ("Broad Oak") dated August 7, 2008. The
       results conclude that the Ilovitza deposit contains an inferred
       resource of copper 303 million tones grading 0.23% copper, 0.31 grams
       per tonne gold and 0.005% molybdenum. This inferred resource contains
       approximately 1.6 billion pounds of copper, 2.9 million ounces of gold
       and 3.5 million pounds of molybdenum. In copper equivalent terms this
       equals 3.5 billion pounds of copper. Geophysics conducted subsequent
       to the Broad Oak Report has identified a chargeable resistivity low
       which is interpreted to be the core of the metallogenic system
       immediately east of the inferred resource with the potential for the
       addition of significant tonnage at higher grades.

    -  The Kazandol oxide copper project in Macedonia, where exploration
       conducted in 2008 identified a near surface shallow dipping copper
       oxide zone 25 to 100 metres thick over a length of approximately five
       kilometres with widths up to in excess of 200 metres. Preliminary
       drilling encountered 47 metres grading 0.59% copper. Surface trenching
       encountered 210 metres at 0.4% copper, 175 metres at 0.44% copper and
       175 metres at 0.39% copper. This project offers the potential for an
       early oxide copper production.

    In China, the combined Company's assets will include:

    -  The Bulagou project in Gansu Province where it has received an
       independent Mineral Resource estimate by B.J. Price Geological
       Consultants Inc. dated April 30, 2008. The results conclude that a
       43-101 compliant in-situ inferred resource of 3.8 million tonnes
       grading 3.17 grams per tonne gold for a total of 390,524 ounces of
       gold is contained in the Labuzaika and Yidi zones.
    

    John C. Menzies, Chairman & CEO commented, "The suite of properties in
Southeast Europe offers the potential for the discovery of world class mineral
deposits. In these particularly challenging economic times, raising necessary
financing for their exploration and development is in the best interests of
EurOmax shareholders. The combination of EurOmax and Silk Road offers the
opportunity to finance an accelerated exploration and development program.
    "We are excited to be a part of the exploration and development of the
potentially world class projects in Southeast Europe and realize the economic
value of Silk Road's Chinese gold properties." added Allen J. Palmiere,
President & CEO of Silk Road.

    BOARD RECOMMENDATION

    The Transaction has been unanimously approved by the boards of directors
of EurOmax and Silk Road. The board of directors of EurOmax recommends that
EurOmax shareholders vote in favour of the Transaction. The board of directors
of Silk Road recommends that the holders of Silk Road shares vote in favour of
the Transaction.
    The definitive agreement will include a commitment by both EurOmax and
Silk Road not to solicit or initiate discussions concerning alternate
transactions.

    CLOSING

    Completion of the Transaction is subject to customary conditions,
including a favourable vote of two-thirds of the EurOmax and Silk Road shares
at special meetings of shareholders called to approve the Transaction, and
receipt of court and all necessary regulatory approvals.
    An information circular for the special meetings of EurOmax and Silk Road
are expected to be mailed in the second quarter of 2009. The Transaction is
expected to close during the second quarter.

    Qualified Person

    John C. Menzies, a qualified person as defined by National Instrument
43-101, supervised the preparation of the information regarding the Southeast
Europe properties in this release. Barry J. Price MSc., P.Geo., a qualified
person as defined by National Instrument 43-101, supervised the preparation of
the information regarding the Chinese properties.

    FORWARD-LOOKING INFORMATION

    This news release contains "forward-looking information" within the
meaning of applicable securities laws. Forward-looking information includes,
but is not limited to, information concerning the proposed business
combination between EurOmax and Silk Road and matters relating thereto.
Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects", or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "does not anticipate", or "believes" or variations of such
words and phrases or statements that certain actions, events or results "may",
"could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates of
management at the date the information is made, and is based on a number of
assumptions and subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from
those projected in the forward-looking information. Assumptions upon which
such forwardlooking information is based include, without limitation, that the
shareholders of EurOmax and Silk Road will approve the Transaction, that all
required third party, court, regulatory and governmental approvals to the
Transaction will be obtained and all other conditions to completion of the
Transaction will be satisfied or waived. Many of these assumptions are based
on factors and events that are not within the control of EurOmax and Silk Road
and there is no assurance they will prove to be correct. Factors that could
cause actual results to vary materially from results anticipated by such
forward-looking information include changes in market conditions, variations
in ore grade or recovery rates, risks relating to international operations,
fluctuating metal prices and currency exchange rates, changes in project
parameters, the possibility of project cost overruns or unanticipated costs
and expenses, labour disputes and other risks of the mining industry, failure
of plant, equipment or processes to operate as anticipated, the business of
the companies not being integrated successfully or such integration proving
more difficult, time consuming or costly than expected as well as those risk
factors discussed in the Annual Financial Statements for the year ended
December 31, 2007 for each of EurOmax and Silk Road available at
www.sedar.com. Although EurOmax and Silk Road have attempted to identify
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking information, there may be
other factors that cause actions, events or results not to be anticipated,
estimated or intended. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information. EurOmax
and Silk Road undertake no obligation to update forward-looking information if
circumstances or management's estimates or opinions should change except as
required by applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking information.

    This news release and the information contained herein are not for
distribution in the United States.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    On Behalf of the Boards of Directors

    "John C. Menzies"                 David R. Bell
    Chairman and CEO                  Chairman
    EurOmax Resources Ltd.            Silk Road Resources Ltd.
    





For further information:

For further information: www.euromaxresources.com; Investor Relations:
David Stothart, T: (347) 284-0062, d.stothart@euromaxresources.com;
www.silkroadresources.ca, Investor Relations: Connie Dos Santos, T: (416)
362-6234, cdossantos@silkroadresources.ca or David Bell, T: (416) 624-8794,
dbell@silkroadresources.ca


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