Mr. Scott Walters reports

MAXUS MINING EXPANDS LOTTO TUNGSTEN PROJECT BY 27% AHEAD OF PLANNED 2026 VTEM SURVEY IN BRITISH COLUMBIA, CANADA

Maxus Mining Inc. has expanded via staking its Lotto tungsten project by 820.8 hectares, increasing the project footprint by approximately 27 per cent to 3,875.2 hectares in British Columbia, Canada. The newly staked claims were selected to secure additional prospective geological terrain surrounding the Midas showing and strengthen the company's district-scale exploration position ahead of its planned airborne geophysical survey.

Lotto tungsten project expansion highlights:

• Low-cost growth strategy: The company has expanded the project by 820.8 hectares through cost-effective map staking, increasing the total project size to 3,875.2 hectares.
• Enhanced district-scale footprint: The newly acquired claims expand coverage of favourable geological and structural trends associated with known tungsten mineralization in the district.
• 2026 VTEM (versatile time-domain electromagnetic) survey: Maxus is preparing to complete a helicopter-borne VTEM electromagnetic and magnetic survey across the project in 2026 to assist with target generation and refinement across the expanded land package.
• Continuing target development: The expanded land package provides additional exploration opportunities as the company continues integrating historical data, recent field results and geological interpretations into its evolving exploration model.

Scott Walters, chief executive officer of Maxus, commented: "This strategic claim expansion increases the Lotto project by approximately 27 per cent and strengthens our district-scale position ahead of our planned 2026 VTEM survey. As governments and industries continue to prioritize secure supplies of critical minerals, including tungsten, we believe Lotto offers significant exploration potential and exposure to a strategically important critical mineral."

About the Lotto project

The project now comprises 3,875.2 hectares prospective for tungsten and other critical metal exploration in the Kootenay region and Trail Creek mining division of British Columbia, a prolific mineral district with excellent infrastructure supporting continuing exploration and development. The project lies 19 (19) kilometres west-southwest of Castlegar, accessible directly from the Crowsnest Highway.

Geologically, the project is underlain by rocks of the Coryell plutonic suite, with prominent east-west-trending breccia zones crosscutting the intrusive package. Younger quartz and quartz-magnetite vein stockworks overprint the country rocks and older breccias and are particularly well developed along structural margins. The structural complexity of the area provides ideal conduits and controls on mineralization. Additionally, molybdenite mineralization has been reported within and along the edges of breccia zones, as well as within shear zones associated with chlorite-magnetite alteration.

The project hosts two historical showings of note. The Loto 3 showing, located in the southeast portion of the project, consists of scheelite (Ca(WO4)) mineralization within a nine-metre-wide quartz vein exposed along a highway roadcut. The Midas showing, in the northwest portion of the project, consists of mineralized quartz-rich granite (alaskite) skarn. Alaskite skarns are often associated with economically important deposits of tungsten (W) and other metals, highlighting the mineral potential of this area.

The company's technical team has reviewed more than 15 historical assessment reports covering the project and compiled data and information into a centralized GIS (geographic information system) database. Much of the historical work was focused on the Midas and Loto 3 showings, providing a valuable foundation for modern exploration programs.

Midas showing

Historical geophysical and geochemical soil surveys outlined several anomalous zones for molybdenum (Mo), copper (Cu), silver (Ag), zinc (Zn) and W in the Midas area of the project. Critical metal anomalies coincide with mapped breccia zones on the project. Biochemical sampling in 1973 in the area uncovered one result of 9,500 parts per billion (ppb) Mo. A diamond drill program tested several anomalous zones in 1973, outlining several wide mineralized breccia zones, containing Mo, Cu and Ag (please see table 1). The historical drilling confirmed the structural control on mineralization within east-west-trending breccia zones, which remain open and underexplored.

Loto 3 historical highlights

Historical mapping on the project outlined a 10-metre-wide zone of quartz veining hosting varying amounts of scheelite mineralization. Additionally, a historical pit about 60 metres north of the quartz zone also contains samples containing notable scheelite mineralization. One sample collected from this pit (please see table 2) assayed 10.97 per cent tungsten oxide (WO3).

2026 VTEM survey

The company is currently planning a helicopter-borne VTEM electromagnetic and magnetic survey across the Lotto tungsten project during the 2026 field season. The survey is expected to assist in mapping lithological contacts, structural corridors, and potential zones of alteration and mineralization beneath cover, supporting the generation of new drill-ready targets.

Results from the survey will be integrated with historical exploration data, geological mapping, geochemical data sets and recent field observations to support target prioritization and future exploration planning. The company believes modern airborne geophysics represents a cost-effective method of rapidly evaluating the expanded project package and identifying areas warranting follow-up exploration.

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 of 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 procedures and supporting documentation 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 provide a scientific basis for continuing exploration at the project. Management further cautions that historical results, discoveries and mineralization on adjacent or nearby properties are not necessarily indicative of mineralization that may be identified 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 15,918 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 (Sb) 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 (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 Cu, 0.34 per cent Zn, 42.5 per cent Pb, 0.65 g/t Ag 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 (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.