Mr. Scott Walters reports

MAXUS MINING COMPLETES MULTI-PROJECT VTEM SURVEY ACROSS BRITISH COLUMBIA CRITICAL MINERALS PORTFOLIO

Maxus Mining Inc. has completed its 2026 multiproject airborne geophysical survey program across the company's Alturas, Hurley, Quarry and Lotto projects in British Columbia.

The program, completed by Geotech Ltd., was comprised of helicopter-borne versatile time-domain electromagnetic (VTEM) and magnetic surveying across six survey blocks, including the Alturas West and East, Hurley West and East, Quarry, and Lotto project areas. The program was designed to cover approximately 1,446 line kilometres of airborne surveying across the six blocks.

Final processing of the survey data sets is under way, with the company expecting to receive the final data files in the coming weeks. The completed data sets will be integrated with existing geological, geochemical, structural and historical exploration information to support drill target generation and prioritization across the projects.

"Completing this extensive geophysical program represents an important milestone in advancing our British Columbia exploration portfolio," said Scott Walters, chief executive officer of Maxus Mining. "We now have modern airborne electromagnetic and magnetic coverage across four of our five projects, providing our technical team with an important data set for evaluating prospective structures and refining exploration targets. We look forward to receiving the final processed data and advancing the interpretation across each project."

2026 VTEM survey program

The VTEM program was designed to improve the company's understanding of subsurface geology across four of its British Columbia exploration projects by mapping variations in electromagnetic and magnetic response.

Surveying was completed across:

• Alturas antimony project -- West and East blocks;
• Hurley antimony project -- West and East blocks;
• Quarry antimony project;
• Lotto tungsten project.

Geotech utilized its helicopter-borne VTEM time-domain electromagnetic and magnetic system. The resulting data sets significantly upgrade the resolution and quality of geophysical information on the projects and provide key information regarding subsurface conductive features, geological contacts, structures, and magnetic patterns that can be evaluated for metal enrichment alongside the company's existing exploration data sets.

Convolutions Geoscience Corp., led by Kyle Patterson, PGeo, provided external quality-control review of the survey data during acquisition and is supporting the company with geophysical interpretation and targeting.

Following receipt of the final processed data sets, Maxus intends to integrate the geophysical results with available geological mapping, historical exploration data, surface sampling and other project-specific data sets to refine areas for follow-up exploration programs.

Preliminary Alturas West interpretation

As announced by the company on Sept. 15, 2026, preliminary VTEM data from the Alturas West project have already been incorporated into the company's exploration program.

First-pass interpretation and Maxwell plate modelling completed by Convolutions identified multiple fitted conductive responses distributed along a corridor spanning more than 900 metres of the mapped Alps-Alturas shear zone, including responses beneath or adjacent to the historic Alps-Alturas mine workings.

The modelling provided additional constraints on the potential location and geometry of conductive sources and was integrated with mapped geology, historical workings and structural measurements as part of the company's 2026 drill-targeting process.

The company cautions that the fitted Maxwell plates represent simplified and non-unique models of possible conductive sources. The geological sources of the conductive responses have not yet been confirmed, and geophysical responses do not, on their own, establish the presence, grade or continuity of mineralization.

Interpretation of the Alturas West survey will continue to be refined following receipt of the final processed survey data set and integration with observations from the recently completed 2026 drill program.

Next steps

Receipt of the final processed VTEM and magnetic data sets will allow the company and convolutions to advance project-specific interpretation across the survey areas.

The company intends to use these data sets as one component of its broader exploration targeting process, integrating geophysical responses with geological, structural, geochemical and historical exploration information where available. Priority areas identified through this work may be considered for follow-up mapping, prospecting, sampling, additional geophysical interpretation and/or drill-target evaluation, as appropriate for each project.

Maxus expects to provide further updates as interpretation of the final data sets progresses.

Community engagement

Maxus recognizes that meaningful engagement with first nations and local communities is an important component of responsible mineral exploration. The company remains committed to maintaining transparent communication, minimizing environmental disturbance and building respectful long-term relationships as exploration activities progress.

Qualified person statement

The scientific and technical information contained in this news release has been reviewed, verified and approved by Morgan Verge, PGeo, vice-president, exploration, of the company and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Ms. Verge has examined information regarding the historical exploration at the projects, which includes a review of the historical sampling, analytical and procedures underlying the information and opinions contained herein.

Management cautions that historical results collected and reported by operators unrelated to Maxus have not been verified nor confirmed by its qualified person; however, the historical results create a scientific basis for continuing work at the projects. Management further cautions that historical results, discoveries and published resource estimates on adjacent or nearby mineral properties, whether in stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on the projects.

About Maxus Mining Inc.

Maxus Mining is a mineral exploration company focused on locating, acquiring, and, if warranted, advancing economic mineral properties in premier jurisdictions. The company is actively progressing its diversified portfolio totalling approximately 16,490 hectares of prospective terrain across British Columbia, Canada.

The portfolio includes 9,492 hectares across three antimony projects, anchored by the flagship Alturas antimony project, where a recent discovery returned high-grade naturally occurring antimony up to 69.98 per cent Sb (antimony) paragraph. The Hurley antimony project, located adjacent to Endurance Gold Corp.'s Reliance gold project, where 2024 drilling reported 19.2 per cent Sb and 2.16 grams per tonne Au over 0.5 m, and the Quarry antimony project, which hosts historical polymetallic samples grading 0.89 g/t Au, 3.8 per cent Cu (copper), 0.34 per cent Zn (zinc), 42.5 per cent Pb (lead), 0.65 g/t Ag (silver) and 20 per cent Sb.

Maxus's portfolio further includes the 3,875-hectare Lotto tungsten project, where a selected 1980 grab sample from a scheelite-bearing quartz vein assayed 10.97 per cent WO3 and the 3,123-hectare Penny copper project, which has over 100 years of recorded exploration. Recent work programs at Penny included rock sampling and geological mapping, with 2017 sampling returning copper values of 1,046 parts per million Cu (TK17-149c), 1,808 ppm Cu (TK17-28) and 2,388 ppm Cu (TK17-12). The project is strategically located near the historic Sullivan mine at Kimberley, B.C., an area that continues to attract significant exploration activity.

Maxus Mining is committed to advancing its British Columbia projects through targeted exploration programs designed to unlock value across multiple critical mineral systems.

We seek Safe Harbor.