EurOmax closes 485,000 financing - 2009 program at Kazandol commences



    VANCOUVER, Jan. 5 /CNW/ - EurOmax Resources Limited (TSX-V: EOX)
announces that on December 31, 2008 it closed $485,000 in a previously
announced financing. Under this financing EurOmax issued 4.85 million Units at
$0.10 per Unit for gross proceeds of $485,000. Each Unit will consist of one
Common Share and one Warrant. Each Warrant entitles the holder to purchase one
Common Share at a price of $0.15 for 12 months or $0.20 from 12 months to 24
months following the Closing Date. The Common Shares issued and any Common
Shares issued from the exercise of the Warrants are subject to a hold period
until May 1, 2009.
    The net proceeds of the Common Shares shall be used for general corporate
purposes and development of the Company's mineral properties in Southeast
Europe.

    Kazandol

    EurOmax has commenced its 2009 program at Kazandol. The first phase will
include trenching over the 3 kilometre extension found at the end of the 2008
program. Following trenching, reverse circulation drilling to define an oxide
copper resource and metallurgical testing is planned. Successful results from
this program will allow a preliminary feasibility study to be completed during
2009.
    Mineralization occurs within and above a 25 metre to more than 100 metre
thick shallowly dipping thrust which has now been defined over a strike
approaching 5 kilometres. At Kazandol North an oxide copper zone has been
trenched and drilled over an 800 metre by 400 metre area. At Kazandol South
the extension of the Kazandol North zone has been mapped over more than 3
kilometres with the highest copper grades seen on the property.

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

    On Behalf of the Board of Directors

    "John C. Menzies"
    Chairman and CEO

    -------------------------------------------------------------------------
    EurOmax Resources Limited is listed on TSX Venture Exchange Symbol: EOX
    -------------------------------------------------------------------------
    





For further information:

For further information: www.euromaxresources.com; Investor Relations:
David Stothart, T: (347) 284-0062, d.stothart@euromaxresources.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890