Peroto project update

    Issued Capital:
    43,199,155 common shares

    Stock Exchange

    TSX Venture Exchange
    Symbol: EOX

    VANCOUVER, March 23 /CNW/ - EurOmax Resources Limited ("EurOmax") is
pleased to update activities at its Peroto project in Bulgaria. Balkans Gold
Limited ("Balkans") are earning a 50% interest in Peroto by spending up to
US$200,000 for the drilling of two holes.
    Peroto is located between the Chelopech and Elatsite copper-gold mines.
The Chelopech Mine, Europe's largest producing gold mine, commenced operation
in 1959 with production of 13 million tonnes at a grade of 1.1% copper and
3.43 g/t gold recovering 144,000 tonnes of copper and 1.4 million ounces of
gold to date. The Elatsite open pit porphyry copper mine has annual production
of approximately 10 million tonnes producing 200,000 tonnes of copper
    The diamond drilling program is currently in progress to evaluate the
Vozdol intermediate sulphidation system. The mineralisation is hosted in
sediments and underlying metamorphic basement.
    Vozdol-1 has been completed to a depth of 450 metres. Vozdol-1
intersected two main mineralised zones. The first is within the upper sediment
horizon with intense quartz-sericite alteration over a 29 metres interval from
241 metres to 270 metres. Sulphides, predominantly pyrite with chalcopyrite
and galena were encountered over the interval. A second mineralised zone of
strong phyllic alteration was intersected within the metamorphic zone over a
24 metres interval from 306 metres to 330 metres. Disseminated sulphides,
consisting predominantly of pyrite with chalcopyrite and minor sphalerite and
galena were intersected throughout this interval. The results of this hole are
    Vozdol-2 is planned to a depth of 700 metres has been temporality
suspended at 621.4 metres due to heavy rainfall. A zone of strong
adularia-silica alteration overprinted by quartz-carbonate-sulphide veining
was intersected in the upper sediment unit over a 212 metre interval from 232
to 444 metres. Within this zone, sulphides predominantly pyrite with
chalcopyrite and sphalerite were encountered. The hole is presently suspended
in strong phyllic alteration with disseminated pyrite-galena-sphalerite and
trace chalcopyrite.
    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, Email:, Tel: (604) 669-5999

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