Euromax Resources Ltd

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Resource Data
Confirmed by Company

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www.euromaxresources.com

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Microcap gold exp

Updated: 5 Apr 2012

View Property Details

TOTALS - for all properties

Ilovitza - exp, Au, Cu, Mo

Trun - exp, Au

Breznik - exp, Au, Ag

KMC - exp, Au, Ag, Cu, Pb, Zn

Average grade among properties in our database for which the mineral in question accounts for the largest fraction of value among all minerals present

Industry Average Grade

	open pit	undrgrnd	unspec.
Au (g/t)	2.31	16.14	2.83
Cu (%)	0.95	2.14	1.43
Mo (%)	0.05	0.08	0.06
Ag (g/t)	38.69	366.88	134.35

Totals: Euromax Resources Ltd has 4 properties.

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Trun
Sofia, Bulgaria, exploration
Ownership: 100%

Breznik
Sofia, Bulgaria, exploration
Ownership: 100%

Ilovitza
Strumitza, Macedonia, exploration
Ownership: 100%

KMC
Novi Passar, Serbia, exploration
Ownership: 100%

Resource Totals

	Au (Moz)	Cu (Mlb)	Mo (Mlb)	Ag (Moz)
M&I	0.25	111.79	1.67	-
Inf.	6.72	1,743.01	28.76	2.10
Ind.	0.25	111.79	1.67	-

All units are in millions.

Relative Values of Minerals

In millions of USD.

	Au - gold	54.1%
	Cu - copper	42.5%
	Mo - molybdenum	3.3%
	Ag - silver	0.1%

Mineral Value by Stage

In millions of USD.

Exploration

100.0%

Relative Values of Properties

In millions of USD.

Ilovitza	84.1%	MK
Trun	12.8%	BG
Breznik	3.1%	BG
KMC	0.0%	RS

Property Values by Country

In millions of USD.

	MK - Macedonia	84.1%
	BG - Bulgaria	15.9%
	RS - Serbia	0.0%

Proven & Probable Reserves (P&P) are
credited at 100%. Value = quantity * market price.

Measured & Indicated Resources (M&I) are
credited at 50%. Value = 0.5 * quantity * market price.

Inferred Resources are credited at 12.5% when
proven & probable reserves are present in the same property. Value = 0.125 * quantity * market price.

When proven & probable reserves are not present,
inferred resources are credited at 5%.
Value = 0.05 * quantity * market price.

In summary,1 million oz of gold in the P&P category
has the same value as 2 million oz in the M&I category and either 12.5 or 20 million in the inferred category.

Compares the gross dollar values of the company's resources by stage of development.

Recalculated daily with the latest mineral prices.
Extraction costs not included.

Resource values are
credited at varying rates
depending on their official confidence classifications

Proven & Probable Reserves (P&P) are
credited at 100%. Value = quantity * market price.

Measured & Indicated Resources (M&I) are
credited at 50%. Value = 0.5 * quantity * market price.

Inferred Resources are credited at 12.5% when
proven & probable reserves are present in the same property. Value = 0.125 * quantity * market price.

When proven & probable reserves are not present,
inferred resources are credited at 5%.
Value = 0.05 * quantity * market price.

In summary,1 million oz of gold in the P&P category
has the same value as 2 million oz in the M&I category and either 12.5 or 20 million in the inferred category.

Compares the gross in situ mineral values by country in which properties are located.

Recalculated daily with the latest mineral prices.
Extraction costs not included.

Resource values are
credited at varying rates
depending on their official confidence classifications

Proven & Probable Reserves (P&P) are
credited at 100%. Value = quantity * market price.

Measured & Indicated Resources (M&I) are
credited at 50%. Value = 0.5 * quantity * market price.

Inferred Resources are credited at 12.5% when
proven & probable reserves are present in the same property. Value = 0.125 * quantity * market price.

When proven & probable reserves are not present,
inferred resources are credited at 5%.
Value = 0.05 * quantity * market price.

In summary,1 million oz of gold in the P&P category
has the same value as 2 million oz in the M&I category and either 12.5 or 20 million in the inferred category.

Compares the gross dollar values of the company's properties, as determined by in situ mineral content.

Recalculated daily with the latest mineral prices.
Extraction costs not included.

Resource values are
credited at varying rates
depending on their official confidence classifications

Proven & Probable Reserves (P&P) are
credited at 100%. Value = quantity * market price.

Measured & Indicated Resources (M&I) are
credited at 50%. Value = 0.5 * quantity * market price.

Inferred Resources are credited at 12.5% when
proven & probable reserves are present in the same property. Value = 0.125 * quantity * market price.

When proven & probable reserves are not present,
inferred resources are credited at 5%.
Value = 0.05 * quantity * market price.

In summary,1 million oz of gold in the P&P category
has the same value as 2 million oz in the M&I category and either 12.5 or 20 million in the inferred category.

Compares the in situ dollar values of the company's minerals in the ground.

Recalculated daily with the latest mineral prices.
Extraction costs not included.

Resource values are
credited at varying rates
depending on their official confidence classifications

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Euromax Resources Ltd