EurOmax Options Four Properties in Macedonia



    Issued Capital:
    43,199,155 common shares

    Stock Exchange

    TSX Venture Exchange
    Symbol: EOX

    VANCOUVER, June 14 /CNW/ - EurOmax Options Four Properties in Macedonia
EurOmax Resources Limited is pleased to announce it has executed an option
agreement with Freeport McMoran Copper & Gold Inc. subsidiaries, Phelps Dodge
Vardar DOOEL and Phelps Dodge Exploration Corporation (together, PDX), to
acquire a 100% interest in four exploration properties in Macedonia. Under the
terms of the agreement EurOmax has purchased an option to acquire a 100%
interest in the properties by the payment to PDX of USD600,000 and the
issuance of 100,000 EurOmax shares. In order to exercise the option EurOmax
must fulfill all concession requirements, fulfill a certain minimum volume of
drilling and complete a US$1.5 million exploration program over 3 years. PDX
retains a one time only back in-right on each concession, whereby PDX may
elect to earn a 70% interest, after EurOmax has completed 10,000 metres on any
such property. In order to earn its interest PDX must repay EurOmax twice its
exploration expenditure on that property and fund the property through
completion of a final feasibility study. The transfer of the properties to
EurOmax, is subject to government approval and the transaction is subject to
regulatory approval.

    Kazandol Copper Project

    The Kazandol concession covers gneiss and schist intruded by granite
stocks and andesite dykes. Outcropping copper mineralisation has been mapped
along a north-west striking zone over a length of five kilometres. Within this
zone two large copper oxide targets have been defined: Kazandol North and
Kazandol South. No drilling has been conducted at Kazandol.

    Kazandol North
    --------------
    An 800 by 400m zone of copper oxide mineralisation has been defined at
Kazandol North. PDX undertook trenching and soil geochemistry with values
locally in excess of 1% copper. Contoured copper in soil and PDX trenches are
plotted on the attached graphic.
    All trenches reported significant results and these are listed in the
table below (at a 0.1% copper cut-off):

    
    -------------------------------------------------------------------------
                       Kazandol North - Trench Results
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Trench          Length       From         To      Intercept
    Number         (metres)    (metres)    (Metres)    (metres)     Copper %
    -------------------------------------------------------------------------
    T1                 765         265         440         175        0.39
    incl                           285         425         140        0.46
    incl                           300         320          20        1.05
    T2                 586         384         586         202        0.25
    T3                 620         130         160          30        0.25
                                   380         445          65        0.27
    T4                 445          35         210         175        0.44
    incl                            95         210         115        0.63
                                   120         160          40        0.98
    T5                 300         155         185          30        0.25
    -------------------------------------------------------------------------
    

    A trenching program is in progress to better define the distribution of
mineralisation prior to drilling. Permitting for drilling has commenced.

    Kazandol South
    --------------
    The Kazandol South zone has been traced over a strike of 3 kilometres and
a width of up to 500 metres with soil copper values greater than 200 ppm. Rock
chip sampling by PDX has reported values of up to 0.5% copper over 10 metres.
Kazandol South is in a similar geological setting to Kazandol North but with
more intense alteration and oxidation and intense surface leaching of copper
is suspected by Euromax. Permitting for a planned program of trenching and
drilling is in progress.

    Ilovitza Copper-Gold Porphyry

    The Ilovitza concession is located in the northwest striking
Leche-Chalkidiki metallogenic belt. Ilovitza, a new discovery by PDX and is
one of a series of porphyry copper-gold deposits in the belt which extends
from Greece, through eastern Macedonia and into Serbia.
    At Ilovitza a large copper-gold bearing quartz stockwork is variably
exposed over an area of 800 by 400 metres and has been traced to a depth of
500 metres. PDX drilled seven diamond drillholes at Ilovitza, five of which
intersected mineralised porphyry. The mineralised stockwork is centred on a
dacite porphyry stock central to a 1.3 km diameter volcanic diatreme. The
stock is pervasively altered and stockworked at surface. (See attached plan
and section).
    A summary of significant diamond drillhole intercepts (at a 0.1% copper
cut-off) is provided in the table below:

    
    -------------------------------------------------------------------------
                     Ilovitza Cu-Au Porphyry Intercepts
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Drill        Depth     From      To   Intercept   Cu    Au   CuEq   AuEq
    Hole        (metres) (metres) (metres) (metres)    %    g/t    %     g/t
    -------------------------------------------------------------------------
    PDIC 04-02      386       98      386      288   0.16  0.20  0.28   0.47
                   incl.     343      386       43   0.25  0.28  0.43   0.73
    -------------------------------------------------------------------------
    PDIC 04-03                 0      108      108         0.31         0.31
                    541      393      541      148   0.24  0.27  0.40   0.68
    -------------------------------------------------------------------------
    PDIC 06-06      512       54      504      450   0.23  0.30  0.41   0.69
    -------------------------------------------------------------------------
    PDIC 06-07      226      132      225       93   0.28  0.45  0.54   0.93
                   incl.     135      180       45   0.29  0.53  0.60   1.02
                             192      216       24   0.29  0.44  0.55   0.93
    -------------------------------------------------------------------------
    PDIC 06-08      501        0       48       48         0.48         0.48
                              57      450      393   0.25  0.36  0.46   0.79
                   incl.      57      111       54   0.38  0.39  0.61   1.04
                             132      213       81   0.23  0.41  0.47   0.80
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Copper and gold equivalent calculations use metal prices of USD 1.25/lb
    copper and USD 450/oz gold. Adjustment factors for differences in
    relative metallurgical recoveries for gold and copper have not been
    considered and metallurgical recoveries and net smelter returns are
    assumed to be 100%.
    -------------------------------------------------------------------------
    

    Locally, weathering has produced a supergene oxide cap with results
including 0.48 g/t gold over 48 metres (0-48 metres) in PDIC 04-08.
    An undrilled zone of intense advance argillic alteration has been mapped
in outcrop along the south-east side of the diatreme over an area of 500 by
300 metres. Enargite and anomalous gold in rock chips suggests potential for
shallow copper-gold mineralisation above an intrusive stock.

    Iberli Project

    The Iberli concession application covers a number of outcropping skarns
along the faulted contact between granite of probable Jurassic age and
Mesozoic limestone. The skarns have been traced discontinuously over a strike
of 2 kilometres with a width at surface of up to 30 metres. The skarns are
magnetite rich with sphalerite, galena and chalcopyrite. A State exploration
company reported grades at surface and in drillhole of up to 3% copper, 7%
zinc, 3% lead and 2g/t gold.

    Shopur Project

    The Shopur concession application, covering 19 sq., km is close to the
operating Buchim porphyry copper mine. Magnetite skarns outcrop on the licence
and sampling by Euromax has reported up to 3g/t gold. The property has
potential for base metal gold skarns and porphyry copper mineralisation in a
poorly exposed terrain between the skarn and the Buchim open pit.
    The Iberlie and Shopur prospects are covered by applications and have not
yet been awarded to PDX. The award is subject to government approval.

    Planned Program

    EurOmax plans a program of geophysics (Induced Polarization, Resistivity
and Magnetics) and diamond drilling at Ilovitza commencing in June 2007. At
Kazandol trenching and permitting for reverse circulation drilling is in
progress.

    Quality Control and Assurance. All of the work reported herein was
undertaken by PDX unless otherwise specified. Samples were assayed at Eurotest
Control AD and American Assay Laboratories, Nevada, both ISO 9001 accredited
laboratories. The Company understands that PDX used industry standard quality
control procedures and believes these results to be reliable.
    John Menzies, a qualified person as defined by National Instrument
43-101, supervised the preparation of the information in this release.

    "John Menzies"

    Chairman & CEO

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





For further information:

For further information: John Menzies, E: euromax@euromaxresources.com,
Tel: (604) 669-5999; For the latest news: http://www.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