Euromax Resources Ltd, Vancouver, July 12, 2019 – (TSX: EOX): (“Euromax” or the “Company“) has received a Rejection Resolution from the Ministry of Economy of the Republic of North Macedonia of its request for an Exploitation Permit no. 24-4490/1.
The request was dated 25 July 2016 and concerns one of the Company’s two Exploitation Concessions covering the Ilovica-Shtuka Copper project. The rejection resolution is based on the claim that all documents required under law for the application were not submitted by the Company.
The Company has 15 days to appeal this decision and intends to do so, based on strong independent legal opinions that the Company has already obtained and that demonstrate that the Company is legally compliant.
The Company looks forward to resolving the situation with all relevant Government Institutions in accordance with the Mining and Administrative Laws of North Macedonia.