Maxus Mining Announces Private Placement

VANCOUVER, British Columbia, June 20, 2025 (GLOBE NEWSWIRE) -- Maxus Mining Inc. (“Maxus” or the “Company”) (CSE: MAXM | FRA: R7V), announces that it proposes to undertake a non-brokered private placement of up to 10,571,438 units (each, a “Unit”), at a purchase price of $0.35 per Unit, to raise total gross proceeds of up to $3,700,003.30 (the “Placement”).

Each Unit will consist of one common share of the Company (each, a “Share”) and one transferable common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to acquire one additional Share at an exercise price of $0.46 for a period of 24 months from the closing date.

The Company will use the proceeds from the Placement towards exploration on the Company’s properties and/or for general working capital purposes. The Units will be offered to qualified investors in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. A portion of the Placement may be completed in accordance with the exemption set out in BC Instrument 45–536 Exemption from prospectus requirement for certain distributions through an investment dealer and the corresponding blanket orders and rules in the other Canadian jurisdictions that have adopted the same or a similar exemption from the prospectus requirement (collectively, the "Investment Dealer Exemption"). The Investment Dealer Exemption is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick to a person or company who has obtained advice regarding the suitability of the investment from a person registered as an investment dealer in such person's or company's jurisdiction. As required by the Investment Dealer Exemption, the Company confirms that, as of the date of this press release, there is no "material fact" or "material change" (as those terms are defined under applicable securities laws) related to the Company which has not been generally disclosed.

The Company will pay finders' fees to eligible finders in connection with the Placement, subject to compliance with applicable securities laws and the policies of the Canadian Securities Exchange. There will be a hold period of four months and one day on all securities issued under the Placement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About Maxus Mining Inc.

Maxus Mining Inc. (CSE: MAXM | FRA: R7V) is a mineral exploration company focused on locating, acquiring, and if warranted, developing economic mineral properties in premier jurisdictions. The Company is working towards progressing its diverse portfolio of exploration properties which includes approximately 7,244 hectares of prospective terrane comprising 3,700 hectares of terrane amongst four antimony projects, 3,120 hectares encompassing the Penny Copper Project & the remaining 422 hectares coming from the Lotto Tungsten Project.

The Penny Copper Project covers approximately 3,122 hectares and has seen exploration activity throughout the last 100+ years with recent work including rock sampling and minor geological mapping. The Penny Copper Project is located near the major past producing Sullivan Mine at Kimberley, British Columbia, an area that has stimulated both junior and major exploration company activities in the past year. Additionally, the Penny Copper Project saw a 2017 work program return 17 grab samples, which returned copper values up to 1,046 ppm Cu (TK-17-149c), 1,808 ppm Cu (TK17-28) and 2,388 ppm Cu (TK17-12).

At the Quarry Antimony Project, in well-established British Columbia, Canada, one historical sample taken assayed 0.89% g/t Au, 3.8% Cu, 0.34% Zn, 42.5% Pb, and 0.65% g/t Ag and 20% Sb. (Open File 1992-11, Map Number 10). A selected grab sample taken in 1980 at the Lotto Tungsten Project from a quartz vein with scheelite assayed 10.97% Wo3. Additionally, the Altura Antimony Project & the Hurley Antimony project are strategically positioned; Altura is on strike from Equinox Resources recent antimony discovery which saw high-grade naturally occurring antimony with assays up to 69.98% Sb; Hurley neighbours Endurance Gold Corp.’s Reliance Gold Project which saw antimony results from 2024 work programs include 19.2% Sb and 2.16 g/t Au over 0.5m encountered during 2024 drilling.

On Behalf of the Board of Directors

Scott Walters
Chief Executive Officer, Director
+1 (778) 374-9699
info@maxusmining.com

Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Forward looking statements in this news release include, but are not limited to, statements with respect to the Placement; the Company’s objectives, goals or future plans; the commencement of a drilling or exploration programs in the future; the completion of the Placement. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.

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