Drilling Results, Breznik and Rakitovo Projects

John Menzies, Chairman and CEO of EurOmax Resources Limited (the “Company”) is pleased to announce the results from a 2,700 metres reverse circulation (RC) drilling program at the Breznik and Rakitovo projects in Bulgaria. An additional 1,300 metres of RC drilling has now been completed on the Trun and Popintsi licences.

Press Release Breznik

A 23 hole, 1,483 metre reverse circulation drilling program has been Monday November 22, 2004 completed at Breznik which has identified a high grade strike persistent vein system with better results including 4 metres at 13.7 g/t gold, 7 metres at 6.5 g/t gold, 15 metres at 3.3 g/t gold, 9 metres at 6 g/t gold and 16 metres at Euromax Resources Ltd. 8 g/t gold. Suite 789 999 West Hastings Street At Breznik Cretaceous andesite intruded by porphyry stocks and dykes is host VANCOUVER BC to a large 3,500 metre by 1,500 metre high to intermediate sulphidation V6C 2W2 hydrothermal system. There are two main mineralized zones – a 1,200 metre CANADA diameter advanced argillic core and 3,200 metre long peripheral phyllic Tel: +1 604 669 5999 alteration zone. Fax: +1 604 608 3344 Drilling targeted silica, carbonate and pyrite veins and breccias within a portion of the phyllic zone. Within this area a number of parallel veins have Contact: been identified – Northern, Central and Southern.

John Menzies The Northern Vein has been drilled on 50 metre centres over 500 metres of Email: strike and is open to the east and west. Drilling by Homestake and Navan in [email protected] 1998 and a Bulgarian State exploration company in 1994, previously reported Tel: +1 604 669 5999 by EurOmax, intersected similar high grades at depth. (See attached drill plan & long section)

For the latest news: A diamond drilling program is planned to commence over the winter to further delineate the continuity of high grade zones at depth. Additional exploration http://www.euromaxresources.com continues in the advanced argillic core with systematic pitting and sampling and reprocessing of IP, magnetics and gravity data. Directors:

John Menzies Rakitovo Christopher Serin Michael Mason EurOmax has completed a 1,253 metre, 11 hole reverse circulation panel Darren Steffes drilling program with better results including 21 metres at 46 g/t silver and 1.8 Robert Waymouth g/t gold, 13 metres at 24 g/t silver and 1.7 g/t gold and 12 metres at 54 g/t silver and 0.6 g/t gold. Issued Capital: 29.9 million common shares Rakitovo, a silver-gold-base metal deposit hosted by a Cretaceous granite porphyry stock, has been the site of mining activity with ancient workings in Stock Exchange bedrock over an area 250 metres by 3,000 metres. Gold and silver mineralisation is hosted within sheeted quartz veins with disseminated TSX Venture Exchange boxworks after sulphides and locally intense silica and potassic alteration. Symbol: EOX Reverse circulation holes were drilled on 100 metre spaced sections (see attached collar plot) along the central 1100 metres of most intense ancient workings.

Similar grades to those found in this drilling program were also obtained from deeper drilling undertaken by a Bulgarian State exploration company in 1970s. These results which were previously reported by EurOmax indicate that oxidation extends to at least 200 metres below surface. Old mine workings

were intersected in a number of holes. Press Release Monday November 22, 2004 While the Shrebna zone outcrops over about 1,600 metres it has been traced Page 2 of 4 with geophysics, conducted by a Bulgarian state exploration company, under cover for an additional 3 kilometres to the south. (See attached plan) Ancient workings to the NW of the drilled zone remain untested and it is planned to collate all data and reinterpret the IP data prior to additional exploration activities in 2005.

Drilling and Sampling Methodology

All drilling was dry and drilled with reverse circulation using a face sampling hammer. The hole was blown clear of sample at the end of each one metre sample length. Samples were collected through a cyclone and split on site. Routine samples were assayed at Eurotest Control AD, a laboratory with ISO9000 accreditation in Sofia, Bulgaria. In addition to routine assay samples, duplicates and blanks were randomly submitted into the sample stream every 15 samples on average. Every 15 samples on average a separate duplicate sample was taken in the field for assay by American Assay Labs (“AAL”) in Sparks, Nevada.

The reverse circulation sample was riffle split to produce a 2 kg assay sample. At Eurotest the assay sample was dried, crushed thorough a jaw crusher and hammer milled to <500 microns. The sample was mixed and split down to 400gms and pulverized to <75 microns. For Rakitovo samples, gold was assayed by 50 gm AAS and silver by ICPMS. For Breznik samples, gold and silver were assayed by 50 gm fire assay with an AAS finish. Samples for assay at AAL were dried, crushed thorough a jaw crusher and hammer milled to approximately 1000 microns at a Company sample preparation facility in Plovdiv, Bulgaria. The sample was well mixed and split down to a 100 gm sample and packaged for transport to AAL in Nevada. AAL pulverized the sample to <75 microns and assayed for gold by a 50 gm fire assay with an AAS finish and silver by ICPMS. All sample rejects are stored at the Company warehouse facility in Elshitza, Bulgaria.

A statistical analysis of quality control data indicates good sample handling and preparation procedures and good precision and accuracy at Eurotest. A detailed review of EurOmax quality control procedure and practices can be found on the Company website.

Contact

For further information, please contact John Menzies or Chris Serin at (604) 669 5999, or visit the Company’s web site: http://www.omaxresources.com/

“John Menzies” John Menzies Chairman & CEO

Attached graphics (available on the website):- Breznik collar plot and long section Rakitovo licence geology and collar plot

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

Press Release Monday November 22, 2004 Page 3 of 4 Breznik Project Reverse Circulation Drilling Results .

DH ID From Intercept Gold Silver Gold Eq (m) (m) (g/t) (g/t) (g/t)

MB 401 0 2 2.4 100.0 4.1 MB 402 23 13 1.3 7.0 1.4 MB 403 13 5 6.2 25.0 6.6

incl. 13 3 8.4 25.0 8.8 MB 404 35 5 1.1 4.0 1.1 MB 405 15 4 7.2 18.2 7.5

MB 406 9 9 1.8 9.2 2.0 MB 407 59 1 9.0 26.0 9.4 MB 408 32 5 2.2 1.8 2.3

MB 409 18 4 13.7 16.5 13.9 incl. 21 1 37.0 43.0 37.7 MB 410 17 7 6.5 1.5 6.5

incl. 18 3 Mine Working MB 412 19 2 2.1 54.0 3.0 27 9 6.0 3.4 6.1 incl. 3 9.5 3.5 9.6

56 16 8.4 2.4 8.4 incl. 64 5 18.6 2.6 18.6 82 13 2.2 17.5 2.5

MB 413 33 2 6.7 5.5 6.7 MB 414 30 4 2.6 16.8 2.9 MB 415 0 9 2.2 7.7 2.4

15 1 4.6 2.0 4.7 MB 416 8 1 2.4 12.0 2.6 MB 417 15 15 3.3 2.0 3.3

incl. 20 1 10.0 3.0 10.1

MB 418 37 5 8.6 7.2 8.7 incl. 39 1 37.0 4.0 37.1 MB 419 34 1 51.3 9.0 51.5

MB 420 27 4 2.2 9.0 2.3 MB 423 0 5 2.6 1.5 2.7

Gold Equivalent based on 60 grams of silver to 1 gram of gold.

Press Release Monday November 22, 2004 Page 4 of 4 Rakitovo Project Reverse Circulation Drilling Results

DH ID From Interval Silver Gold Gold (m) (m) (g/t) (g/t) Equiv. (g/t) MR 402 6 5 52 0.4 1.3 25 2 36 2.1 2.7 30 7 28 1.4 1.8 54 6 24 2.3 2.7 78 3 23 7.5 7.9 MR 404 9 21 46 1.8 2.6 36 5 54 0.6 1.5 MR 405 13 30 16 0.5 0.8 incl. 13 9 17 0.9 1.2 incl. 38 3 43 0.9 1.7 49 7 23 1.0 1.4 67 16 26 1.3 1.8 MR 406 0 11 42 0.5 1.2 19 6 26 2.3 2.8 51 6 22 0.9 1.2 66 6 23 0.5 0.9 96 6 30 1.4 1.9 MR 407 2 25 33 0.5 1.0 incl. 13 12 56 0.6 1.5 MR 408 1 5 32 1.8 2.3 12 2 25 5.0 5.4 20 7 60 5.7 6.7 68 4 30 0.6 1.1 MR 409 26 13 24 1.7 2.1 MR 410 2 17 18 0.4 0.7 MR 411 7 43 27 0.4 0.9 64 9 11 0.5 0.7

Gold Equivalent based on 60 grams of silver to 1 gram of gold.