Operator: Euromax Resources Ltd.

Location: Bosilovo, Macedonia

Stream: 25% of Payable Gold (subject to conditions)

Term of Stream: Life of Mine

Ilovica is a porphyry copper-gold deposit, owned by Euromax Resources DOO Skopje, a wholly-owned subsidiary of Euromax Resources Ltd. (“Euromax”). Ilovica is located in southeast North Macedonia, within the municipality of Bosilovo, approximately 15 kilometers west of the Bulgarian border and approximately 20 kilometers east of the town of Strumica.

Euromax completed a Feasibility Study (FS) for Ilovica in January 2016 and is currently working with the North Macedonian authorities to advance permitting approval.