EurOmax Responds to Dissidents' Claims

TSX.V. EOX
Frankfurt. OMZ

VANCOUVER, Sept. 7 /CNW/ - EurOmax Resources Limited (TSX‐V: EOX) ("EurOmax" or, the "Company") responded today to misleading statements made by the dissident shareholders (the "Dissidents") in their news release dated August 31, 2010 concerning cash expenditures by EurOmax. EurOmax is a mineral exploration company which by its nature must spend funds to explore its properties and enhance shareholder value. A failure to explore its properties diligently would result in the cancellation or non‐renewal of critical government licenses, which in turn could result in a total loss of value to shareholders for the affected properties.

The Dissidents criticism of cash deployment in the second half of 2009 is disingenuous and misleading. The exploration programs undertaken by the Company were those that were proposed by the former Chief Executive Officer of EurOmax, with the strong support and approval of Mr. Patriarco, who was a director of the Company at the relevant time. The major expenditures did not materially advance the Euromax property values, unlike the more targeted drilling program that has occurred since that time.

Contrary to the lack of relative success under the previous leadership, since their departure, EurOmax has spent approximately one third of the funds they spent, and achieved much greater results. The results of these expenditures can be summarized as follows:

• Drilling at Ilovitza significantly extended the potential porphyry gold - copper deposit by 100 metres to the east and 150 metres to the north from the previously defined 303 million tonne inferred mineral resource grading 0.23% copper, 0.31 grams per tonne gold and 0.005% molybdenum. This resource contains approximately 1.6 billion pounds of copper, 2.9 million ounces of gold and 3.5 million pounds of molybdenum. The drilling also indicated that drilling to the north has higher gold grades. This has been described as a "world class" deposit by a commentator. Present management is actively in discussions with third parties to implement a major program on this project.
• Drilling at Breznik extended the strike of the high grade gold‐silver deposit from nearly 1,000 metres to approximately 2,200 metres. Drilling also identified a parallel zone to the previously identified high grade gold‐silver deposit. Breznik is developing into a significant gold property capable in the near term of attracting major investment in its own right.
• Drilling at Kazandol North confirmed a potential zone of oxide copper mineralization over an area 900 metres long and 400 metres wide.
• During 2010, 10,000 metres of drilling has been completed. Results are expected on the Company's other properties within the next month, and will enable EurOmax to make critical decisions on advancing additional properties.

EurOmax has nothing to hide. EurOmax has offered the Dissidents a Board seat with the Company (the maximum number of Board seats the Company can offer at this time under the British Columbia Business Corporations Act). EurOmax has also offered the Dissidents a "standstill agreement" such that major corporate transactions could not occur without the consent of the Dissidents. The Dissidents rejected these offers, which would have allowed the Dissidents to learn about and monitor the affairs of the Company, including critical value creation opportunities. The Dissidents concerns regarding spending by the Company should be evaluated in light of the Dissidents' failure to accept important offers made that were intended to address their concerns.

Christopher A. Serin, P.Eng., a qualified person as defined by National Instrument 43‐101, supervised the preparation of the information in this release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

On Behalf of the Board of Directors
"Christopher A. Serin"
Interim Chief Executive Officer

FORWARD LOOKING-STATEMENTS
This news release contains "forward‐looking information" within the meaning of applicable Canadian securities legislation. Forward‐looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of EurOmax to be materially different from those expressed or implied by such forward‐looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. EurOmax does not undertake to update any forward‐looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

For further information:

about EurOmax Resources Limited please visit the Company's website: www.euromaxresources.com or contact Christopher Serin at 604.657.5364