The EP and the demo appear to be the same.
It appears that it was first released as an eponymous EP by Napalm as the following scan of the EP shows (scan from DisCogs, and also included in Kefka's post):

And then, the 'Spellbound' demo was re-released in 1996 on CD and in 2018 on BandCamp, according to
the DisCogs page:
"Reissue of the demo originally released in 1995 on tape (and reissued in June 1996 on CD); available via Napalm Rec.'s official Bandcamp page."
Then, I guess that the demo and the EP are essentially the same (the Metal-Archives pages of the both releases say that both were "Recorded at Soundsuite Studio, January 13-15, 1995." That means that they are probably the same unless mastering, etc for production. was different.
Anyway, thank you very much to Kefka for the upload at
VBR 319 kbps.
Each track previewable or downloadable at
CBR 320 kbps for free if you want to preview or miss some tracks (but then, I'm not sure if this is truly the EP or the demo?, or if it would even matter???):
[ Hidden Text ]
The demo is available on the forum, and Thenecromancer's link at 320 kbps still works:
Dismal Euphony - Spellbound [demo] (1995)