Mr. Scott Walters reports

MAXUS MINING EARNS 100% INTEREST IN THE PENNY COPPER PROJECT, BRITISH COLUMBIA

Maxus Mining Inc. has earned a 100-per-cent legal and beneficial interest in the Penny copper project, located near Kimberley, B.C.

The company has fulfilled all obligations under its purchase agreement, resulting in Maxus securing full ownership of the Penny project.

Penny copper project overview

The Penny project consists of approximately 3,123 hectares situated within a prolific mining region of southeastern British Columbia near the historic Sullivan mine at Kimberley, B.C. The project hosts numerous historical mineral occurrences and benefits from over a century of recorded exploration activity.

Historical and recent exploration work at Penny has included geological mapping, prospecting and rock sampling programs targeting copper-rich mineralization associated with favourable regional structures and alteration systems. Prior to Maxus, recent work programs completed on the project included geological mapping and rock sampling, with the 2017 sampling program returning copper values of 1,046 parts per million copper (TK17-149c), 1,808 ppm Cu (TK17-28) and 2,388 ppm Cu (TK17-12). Since being involved on the project, Maxus has completed a high-resolution MobileMT survey followed by geological mapping and rock sampling that included samples returning copper values up to 0.34 per cent Cu.

The project is strategically positioned within an active mining district that continues to attract significant exploration and development financing.

Transaction highlights:

• 100-per-cent ownership achieved: All requirements under the option agreement have been satisfied, securing full legal and beneficial ownership of the Penny project.
• Strategic copper exposure: Penny strengthens Maxus's growing portfolio of critical mineral and polymetallic assets in British Columbia.
• District-scale potential: The project covers a large prospective land package within a well-established mining jurisdiction with extensive historical exploration.
• Operational flexibility: Full ownership provides Maxus with the flexibility to advance exploration, target generation and future development initiatives across the project in line with the company's strategy.

Currently, Maxus is continuing to advance exploration planning across the project through historical data compilation, geological interpretation and target generation.

"We are very pleased to have completed the acquisition of a 100-per-cent interest in the Penny copper project," commented Scott Walters, chief executive officer of Maxus. "Copper remains a critically important metal supporting global electrification and infrastructure growth, and Penny provides Maxus with exposure to a highly prospective copper project within a prolific mining district. Securing full ownership gives the company the flexibility to continue advancing exploration and evaluating the project's broader potential."

Next steps

With full ownership now established, the company will focus on:

• Advancing geological and geophysical interpretation to streamline drill target refinement;
• Integrating available data sets into evolving 2-D and 3-D geological models;
• Evaluating future exploration programs across the project.

Option agreement details

On May 17, 2024, the company entered into the agreement to acquire the option from Andrew Molnar (the optionor) to earn a 100-per-cent interest in the project through a combination of cash payments and common share issuance, as follows:

• Paying the optionor an aggregate of $65,000 in cash as follows:
  1. $15,000 on or before June 16, 2024 (completed);
  2. $25,000 on or before the date that is 10 days after May 8, 2025 (the listing date) (completed);
  3. $25,000 on or before the date that is 10 days after the first anniversary of the listing date (completed);
• Issuing to the optionor an aggregate of 200,000 common shares in the capital of the company on or before the date that is 10 days after the listing date (completed).

No finders' fees were paid on this arm's-length agreement.

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.

Management cautions that historical results collected and reported by operators unrelated to Maxus have not been verified or confirmed by its qualified person; however, the historical results create a scientific basis for continuing work at the project. 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 project.

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 Sb. 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 gold over 0.5 metre, and the Quarry antimony project, which hosts historical polymetallic samples grading 0.89 g/t Au, 3.8 per cent Cu, 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 (tungsten trioxide), 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 2388 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.