Euromax Resources Ltd V.EOX

update

[dynarod]

FYI - Got this from number 2: Dear Mr. XXX Mr. Menzies asked his secretary to pass along to me your email to him. He asked me to respond to it as he is currently in the field preparing for the drilling and exploration programs Euromax will be conducting in 2005. In discussions with Mr. Menzies, he advised me that his current shareholdings are the same as those reported in Euromax’s most recent Management Information Circular dated May 17, 2004 (1,542,150 shares owned) with the exception of a recent purchase of 20,000 shares. Previously his holding did not show on the SEDI website because he had no transactions after the SEDI on-line system became operational. Since the completion of the first oil and gas well in Turkey and the acquisition of the mineral properties in Bulgaria, Euromax’s management has always believed that the greatest potential for an increase in shareholder value will come from the mineral properties in Bulgaria rather than the oil and gas exploration in Turkey. I think that Mr. Menzies’ statements in the annual report last year explains this very well. He wrote: “Since early in 2003 we have been evaluating gold projects in south-eastern Europe leveraging the considerable skills of management in minerals exploration. This evaluation program was very structured and focused. We set challenging criteria for potential acquisitions and built a regional data base of geological, remote sensing, metallogenic and historic exploration data. This diligent, structured process resulted in the selection of a number of projects which have significant potential. South-eastern Europe offers you some very interesting opportunities. The region has a been gold and copper producer since ancient times and hosts the largest gold and copper deposits in Europe. Gold and copper is mined from open pit and underground and concentrates are exported and treated at local smelters. While state run exploration was often extensive there has been little exploration in the last 20 years. In addition the pace of competitor exploration and development activity has recently accelerated. I have been an exploration geologist since the late 1970s and during that time I have seen few regions of the world - and I have seen quite a lot of it – which had such potential and where opportunities were so accessible. By comparison projects which are available in this region are unobtainable in more mature mining areas such as Australia or Canada. Exploration simply ceased before very capable local geologists had the financial ability to apply new exploration concepts and techniques - our role is to use this knowledge to target acquisitions and explore them in an efficient manner. Rarely have I seen opportunities which were so compelling as to result in my change in domicile or focus - this region is one of those rare opportunities.” As a result of this potential, the success we had in acquiring highly potential mineral properties in Bulgaria and the initial drilling results obtained when compared to the initial oil and gas results in Turkey, Euromax made the decision to focus it financial resources on our mineral exploration programs. As a consequence, Euromax made the decision to farm-out its interest in the Turkish oil and gas properties. This was done to maximize the potential for shareholders at no cost until more positive results were achieved. We understand your concern about the lack of news on Euromax. We do not believe that the market has fully understood the real meaning of the results of our mineral exploration to date. When the original Yesilteppe 1 well was drilled the then operator Amity published a daily report on their stock exchange’s website. In Canada this is highly unusual and may have led to an unrealistic anticipation for the future. Unfortunately, as we are not the operator of the current drilling in Turkey and indeed are not even contributing to the cost of the drilling, we are at the mercy of the current operator for results. As we are currently a non-paying partner in the two wells being drilled in Turkey we have a very limited input into the program that is being conducted. Mineral exploration in most parts of Bulgaria cannot be conducted on a year round basis without a significant cost for infrastructure that is only warranted when developing a deposit. As noted above, Mr. Menzies is currently in the field as Euromax is about to start its 2005 mineral exploration program. This program will include a significant amount of drilling and other exploration on all of its properties. We are eagerly awaiting the results from this program and will provide them to the market when they are obtained. We appreciate the expression of your concern regarding a lack of news about our activities. We will attempt to communicate on a more regular basis with the market, but do not want to dilute the impact of significant results with a lot of inconsequential news for the sake of issuing a press release. I would be more than willing to discuss any of our past results or the results of future activities as they are available with you. Please contact me at [e-mail] C. A. Serin, P. Eng. Director Euromax Resources Ltd. (formerly Omax Resources Ltd.) Tel: [phone] Fax [phone] ___________________________________________________________ The information contained in this E-mail or facsimile is confidential information intended only for the use of the addressee(s). If you have received this communication in error, please immediately notify us by telephone (collect if necessary) and delete or destroy any copies of it. Thank you