EurOmax closes 485,000 financing - 2009 program at Kazandol commences

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[{"type":"text","content":"\n\n\n\nVANCOUVER, Jan. 5 /CNW/ - EurOmax Resources Limited (TSX-V: EOX)\nannounces that on December 31, 2008 it closed $485,000 in a previously\nannounced financing. Under this financing EurOmax issued 4.85 million Units at\n$0.10 per Unit for gross proceeds of $485,000. Each Unit will consist of one\nCommon Share and one Warrant. Each Warrant entitles the holder to purchase one\nCommon Share at a price of $0.15 for 12 months or $0.20 from 12 months to 24\nmonths following the Closing Date. The Common Shares issued and any Common\nShares issued from the exercise of the Warrants are subject to a hold period\nuntil May 1, 2009.\n\n\nThe net proceeds of the Common Shares shall be used for general corporate\npurposes and development of the Company's mineral properties in Southeast\nEurope.\n\n\nKazandol\n\n\nEurOmax has commenced its 2009 program at Kazandol. The first phase will\ninclude trenching over the 3 kilometre extension found at the end of the 2008\nprogram. Following trenching, reverse circulation drilling to define an oxide\ncopper resource and metallurgical testing is planned. Successful results from\nthis program will allow a preliminary feasibility study to be completed during\n2009.\n\n\nMineralization occurs within and above a 25 metre to more than 100 metre\nthick shallowly dipping thrust which has now been defined over a strike\napproaching 5 kilometres. At Kazandol North an oxide copper zone has been\ntrenched and drilled over an 800 metre by 400 metre area. At Kazandol South\nthe extension of the Kazandol North zone has been mapped over more than 3\nkilometres with the highest copper grades seen on the property.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n\nOn Behalf of the Board of Directors\n\n"John C. Menzies"\nChairman and CEO\n\n-------------------------------------------------------------------------\nEurOmax Resources Limited is listed on TSX Venture Exchange Symbol: EOX\n-------------------------------------------------------------------------\n\n\n","length":2148,"tagName":"div"}]

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