Vancouver, B.C. – Maxus Mining Inc. (“Maxus” or the “Company”) (CSE: MAXM | FRA: R7V), is pleased to announce it has received positive results from the 2025 Exploration Program (the “Program”) at its Penny Copper Project (the “Project” or the “Property”). The Project is strategically located in the Fort Steele Mining Division near the Sullivan Mine in Kimberley, British Columbia.

2025 Exploration Program Summary

• Airborne Mobile Magnetotelluric (“MobileMT”) Survey (the “Survey”)over the entire Property – Confirmed prospective trend continuity
• Soil sampling grids over most prospective targets on the Property – Confirmed copper (“Cu”) anomalism across the Project
• Prospecting and rock grab sampling across the Property – Identified mineralization and ideal geological host rocks

MobileMT Survey Highlights

• The Survey was designed to assist with mapping bedrock structure and lithology, including possible alteration and mineralization zones, observing apparent conductivity corresponding to different frequencies, inverting Electromagnetic (“EM”) data to obtain the distribution of resistivity with depth, and using Very Low Frequency (“VLF”) and magnetic data to study properties of the bedrock units.
• A total of 519 line-kilometres were flown in the Survey over a 46 square-km area.
• Initial review of data highlights laterally continuous conductive horizons, potentially indicating prospective sulphide- and graphite-bearing argillite-siltstone couplets within the Creston Formation. Localized steep conductors were also found along the Palmer Bar Fault, both suggesting potential for stratabound Cu-Ag mineralization (Please see Figure 1).
• High magnetic susceptibility values correlated with resistive domains, especially within magnetite-bearing arenite beds of the lower Creston and near intrusive contacts. This correlation supports geological mapping and highlights areas where magnetite-bearing arenite and potassic alteration align with known Penny Man Cu showings (Please see Figure 2).
• Geophysical interpretation is ongoing, and further findings will be released as they become available.

Field Program Highlights

• The field team at Resourceful Geoscience Solutions (“RGS”) collected a total of 37 rock samples, and 264 soil samples, following up on historic survey grids and focusing on the most prospective areas in the Property.
• Outcrop sample 326313, consisting of iron-oxidized quartzite mineralized with an unknown metallic mineral, assayed 0.34% Cu, which confirms in-situ copper mineralization in the vicinity of historic copper soil anomalies (Please see Figure 1 and Figure 3). Table 1 contains a summary of rock sample highlights.
• The soil sample grid was completed at 50 metre line spacing and 50 metre station spacing.
• At each soil station, a description of the sample and site was collected, with data including sample location (in UTM NAD83 Zone 11N coordinates), vegetation, slope, moisture, soil sample depth, soil sample composition, soil horizon, and any cultural impacts (roads, trails, etc.).
• The east grid displays broad trending anomalous zones, oriented NW and NE. The smaller west grid followed up on a historic elevated copper signature and intersected similar anomalous trends (Please see Figure 1).

Figure 1: Penny Project MobileMT Survey overlain with 2025 Field Sampling Highlights

Figure 2: Inverted magnetic susceptibility (top) and resistivity (bottom) sections along L1220 (top) and L1320 (bottom) survey lines. Section shown from west to east. Penny Man targets are marked with arrows.

Table 1: Penny Field Program 2025 Rock Sample Anomalous Results

Sample ID	Easting	Northing	Sample Source	Rock Type	Lithology Comments	Cu (ppm)	Au (ppb)	Mn (ppm)
326301	580267	5490174	Float	Dolostone	Pale greyish green Subangular Dolostone. Trace fine to medium grained sulphides.	294	3	720
326313	580132	5492037	Outcrop	Quartzite	2-4cm irregular quartz veins hosting unknown black mineral with metallic lustre (Cu?) + dendritic black mineral (Mn).	3,440	9	121
326361	578894	5488138	Outcrop	Quartzite	Pale green quartzite and minor mudstone. Fe stains. 0.5mm veinlet with fine blebs of Malachite and soft blue-black shiny mineral (chalcocite?) parallel with 1mm quartz veinlet.	209	6	942

Figure 3: Outcrop Sample 326313, which assayed 0.34% Cu.

Marketing Extension

The Company is also pleased to announce, further to its news release on October 20, 2025, that it has increased the advertising budget under its engagement of marketing services with RMK Marketing Inc. (“RMK”) (address: 41 Lana Terrace, Mississauga, Ont., Canada, L5A 3B2; e-mail: Roberto@rmkmarketing.ca). RMK was retained by the Company on October 17, 2025 to provide marketing services for a term of six (6) months, commencing October 22, 2025, with an option to increase the advertising budget up to $500,000 CDN during the term (the “Agreement”). Pursuant to the terms of the Agreement, the Company has decided to execute its option to increase the advertising budget for the existing term to $500,000 CDN by compensating RMK an additional $250,000 CDN.

RMK is an independent company which will, as appropriate, co-ordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads, provide project management and consulting for an online marketing campaign and create and optimize landing pages (the “Services”). The promotional activity will occur by Google. The Company will not issue any securities to RMK as compensation for the Services. As of the date hereof, to the Company’s knowledge, RMK (including its directors and officers) does not own any securities of the Company and has an arm’s-length relationship with the Company.

About Maxus Mining Inc. 

Maxus Mining Inc. (CSE: MAXM | FRA: R7V) 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 totaling 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% Sb^¶. The Hurley Antimony Project, located adjacent to Endurance Gold Corp.’s Reliance Gold Project, where 2024 drilling reported 19.2% Sb and 2.16 ppm Au over 0.5 m^‖, and the Quarry Antimony Project, which hosts historical polymetallic samples grading 0.89 ppm Au, 3.8% Cu, 0.34% Zn, 42.5% Pb, 0.65% ppm Ag, and 20% Sb^‡.

Maxus’ 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% 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, British Columbia, 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.

Sample Collection, Preparation, and Analysis Procedures

Field Procedures

Samples were collected from predetermined sites, located in the field with handheld GPS, using a Eijkelkamp Soil Auger designed for the sampling of soils. The B horizon was visually identified in the retrieved material by trained staff and 300-500g of material placed into a kraft paper bag with a unique identification tag. The unique sample ID was written on the outside of each sample bag. Till and rock samples were collected in uniquely identified bags with uniquely identified tags and closed with plastic zip ties. The XY coordinates recorded on reference tags kept as a secure record. The sample location and relevant meta data were collected in the Qfield application on Apple iPads.

Till samples were collected as a test program to evaluate the application of the method to this project. Samples were collected from areas of elevated copper anomalism in the 2021 grids from existing road or stream cuts for easy access to the basal lodgement till. Approximately 1 kg of basal till was collected in a poly sample bag and closed with a plastic zip tie.

Samples were stored at a secure property rented for use in the program until delivered to Activation Laboratories Ltd. (“Actlabs”) via Canada Post. At no time were the samples stored in an unsecured or unsupervised location for quality assurance and quality control (“QA/QC”).

Fieldwork resulted in the collection of 311 geochemical samples comprising 264 soils, 37 rocks, and 10 tills.

Analytical Procedures

All samples collected at the 2025 Penny Project were submitted to Actlabs in Kamloops, BC for preparation and geochemical analysis. Surficial samples (soils and tills) and rock grab samples were analyzed using a combination of fire assay, aqua regia digestion, and four-acid digestion packages selected to characterize both mobile and near-total elemental signatures.

Soil samples were analyzed using Actlabs packages 1A2-ICP and UT-1M-0.5 g. Gold was determined by 30 g fire assay (1A2-ICP) with an ICP-OES finish. The procedure involves high-temperature fusion of each sample with a lead-based flux, followed by cupellation to isolate a precious-metal bead for analysis. Multi-element determinations were carried out using the UT-1M-0.5 g ultratrace package, which applies an aqua regia digestion (HCl + HNO₃) and ICP-MS finish. This partial digestion targets metals associated with clays, carbonates, oxides, and weakly bound silicate phases typical of surficial environments.

Till samples were analyzed using UT-1M-15 g, UT-4M, and 1A2-ICP. The UT-1M-15 g package uses a 15 g aliquot to improve detection of fine-grained and heavy-mineral components common in glacial tills. Additional multi-element analysis was completed using the UT-4M four-acid near-total digestion (HNO₃–HF–HClO₄–HCl), which is expected to dissolve most silicate, sulphide, carbonate, and oxide minerals. Gold in tills was determined using the same 30 g fire assay protocol applied to soils.

Rock grab samples were analyzed using 1A2-ICP for gold and 1E3 for multi-element geochemistry. The 1E3 AquaGeo package uses aqua regia digestion with ICP-OES finish and provides reconnaissance-level lithogeochemical data suitable for characterizing mineralized and altered bedrock.

QA/QC Procedures

Comprehensive QA/QC protocols were implemented throughout the sampling and analytical process to ensure the reliability and integrity of geochemical data. Certified reference materials (“CRMs”) also referred to as standards, blank samples composed of barren material, and field duplicates were systematically inserted into the sample stream at regular intervals.

Within the soil sampling program, blanks were inserted at regular 50-sample intervals as well as standards; Alternating standards and blanks every 25 samples. Field duplicates were collected for samples with numbers ending in 40 and 80. For the till sampling program, one blank and one standard were inserted into the 12-sample sequence. In the 37-sample rock program, three blanks were inserted at samples 326322, 326360, and 326366 to monitor potential contamination during collection and preparation. Inserted standards are OREAS 46, which are sourced from Canadian basal till.

Qualified Person Statement

The scientific and technical information contained in this news release has been reviewed, verified, and approved by Morgan Verge, P.Geo., Technical Advisor of the Company and a “qualified person” as defined in NI 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 nor confirmed by its Qualified Person; however, the historical results create a scientific basis for ongoing work at the Project.

References

¶Equinox Resources – November 8, 2024, ‘Ultra High Grade Naturally Occurring Antimony at Alturas Project with Assays up to 69.98% Sb’ – https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02878498-6A1236703

‖ Endurance Summarizes Antimony Results From The Reliance Gold Project, BC – Best Intervals Include 19.2% Antimony And 2.16 ppm Au Over 0.5 m In 2024 Drilling – February 24, 2025 – https://endurancegold.com/news-releases/endurance-summarizes-antimony-results-from-the-reliance-gold-project-bc-best-intervals-include-19.2-antimony-and-2.16-ppm-au/

‡ Open File 1992-11, Map Number 10.

§ MILFILE No: 082FSW228 – Loto 3, 1980 Grab Sample –

https://minfile.gov.bc.ca/report.aspx?f=PDF&r=Inventory_Detail.rpt&minfilno=082FSW228

† NI 43-101 – Technical Report on the Penny Property British Columbia, NTS 82G/12 49° 55° North Latitude -115° 90° West Longitude, Derrick Strickland P.Geo., August 14, 2024.

On Behalf of the Board of Directors

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