Mr. Scott Walters reports

MAXUS MINING ADVANCES EXPLORATION AT THE LOTTO TUNGSTEN PROPERTY IN BRITISH COLUMBIA, CANADA, WITH 2025 RESULTS AND ONGOING TARGET DEVELOPMENT

Maxus Mining Inc. has provided a summary of analytical results from the 2025 field program at its Lotto tungsten property, located in the Trail Creek mining district in British Columbia. Maxus engaged Palliser Exploration Ltd. to complete a reconnaissance field program across the project in the fall of 2025. The first round of results of the 2025 exploration and sampling program at the project are summarized below.

Lotto tungsten project highlights:

• Strategic location: The project is situated along Highway 3, approximately 20 kilometres west of Castlegar, B.C., providing excellent access to infrastructure and year-round exploration potential.
• Cost-effective advancement: Integration of historical drilling and 2025 field results from the program into a centralized 3-D geological model is under way, supporting refined targeting and prioritization of prospective zones for follow-up work.
• Emerging polymetallic system: Initial results indicate tungsten and molybdenum anomalism associated with quartz veining and alteration, reinforcing the potential for a structurally controlled polymetallic system warranting further systematic exploration.

Lotto project historical highlights:

• Historical Loto 3 showing consists of a nine-metre-wide quartz vein with scheelite (CaWO4) mineralization;
• Disseminated scheelite present in quartz veins located northwest of the main Loto 3 showing and along the western edge of the highway;
• Grab sample from the Loto 3 claim in 1980 from a quartz vein with scheelite returned high-grade 10.97 per cent WO3 (tungsten trioxide).

Note: The company considers results greater than 1.0 weight per cent WO3 to be high grade.

"The Lotto property is beginning to demonstrate the characteristics we look for in a prospective critical minerals project," said Scott Walters, chief executive officer of Maxus. "These early results, combined with compelling historical data, are helping us define a clear path forward. Our next phase of work will focus on expanding the footprint of mineralization and advancing high-priority targets as we work to unlock the broader potential of this underexplored project."

2025 Lotto exploration program

Prior to mobilization, Maxus's technical team reviewed historic assessment reports covering the property and compiled the results into a central GIS (geographic information system) database. This work highlighted favourable geological environments for potential mineralization at the property and outlined several exploration targets across the property. Following the data compilation, the company initiated the field reconnaissance program to evaluate the generated target areas.

Two samples, G018634 and G018641, returned 105 parts per million molybdenum and 21 parts per million tungsten, respectively (please see Table 1). Both samples contained abundant quartz veining and strong iron-oxide alteration, hosted in altered siltstone and granodiorite, respectively.

Currently, the sample size and geochemical results are not robust enough to support a mineralogical interpretation. The company is advancing plans for continued field programs focused on systematic rock sampling, detailed geologic mapping and airborne geophysical surveys to strengthen the existing data set and improve overall interpretive confidence. Expanding spatial coverage and increasing sample density would help capture lithological variability and structural complexity that may not be fully represented in the current data. Targeted sampling of underrepresented units and areas of structural interest would refine correlations and support more accurate geological models. Integrating consistent mapping methodologies with high-quality sample collection and documentation will ensure data reliability and comparability. The continuing work will provide a more robust and comprehensive data set, enabling better-informed analyses and supporting future exploration or research objectives.

Sample preparation and analytical procedures

Rock samples were collected by Palliser field crews with sample locations (in NAD83 UTM Zone 11 co-ordinates), descriptions, visual characteristics and photographs recorded in the field. Each sample was assigned a unique sample ID and placed into a labelled sample bag along with a corresponding sample tag. Samples were stored securely during the program and transported directly by Palliser personnel to Agat Laboratories in Calgary, Alta., for sample preparation and geochemical analysis. Agat Laboratories is accredited to ISO 9001:2015 ISO/IEC 17025 for specific analytical methods.

The following sample preparation, analysis, and quality assurance and quality control methods were performed:

• Dry less than five kilograms, crush to 75 per cent passing two millimetres, split to 250 grams (method code 200-075);
• Pulverize to 85 per cent passing 75 microns (method code 200-087);
• Metals by four-acid digest, inductively coupled plasma -- optical emission spectrometry (ICP-OES) (201-070);
• Gold by fire assay (202-551);
• If gold greater than 10 grams per tonne, run gravimetric 202-564;
• If metals were above upper detection limit, ran overlimit four-acid digest, ICP-OES or ICP-MS (mass spectrometry);
• A certified reference material or blank was inserted at a frequency of one in 10 samples.

A minimum of two Maxus personnel received all Agat Laboratories assay certificates.

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 project, which includes a review of the historical sampling, analytical and procedures underlying the information and opinions contained herein.

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 15,098 hectares of prospective terrain across British Columbia, Canada.

The portfolio includes 8,920 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 antimony. 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 g/t Au over 0.5 metre, and the Quarry antimony project, which hosts historical polymetallic samples grading 0.89 g/t Au, 3.8 per cent copper, 0.34 per cent zinc, 42.5 per cent lead, 0.65 g/t silver and 20 per cent Sb.

Maxus's portfolio further includes the 3,054-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 ppm 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.