Mr. Scott Walters reports

MAXUS MINING ANNOUNCES COMPLETION OF MOBILEMT INTERPRETATION ON THE PENNY PROJECT, OUTLINING MULTIPLE HIGH-PRIORITY COPPER EXPLORATION TARGETS

Maxus Mining Inc. has completed an advanced geophysical interpretation by Convolutions Geoscience Corp. on the airborne mobile magnetotelluric survey at the company's 100-per-cent-owned Penny project. The interpretation outlines multiple conductive and structural target areas across the project, including features that appear to be spatially associated with the Palmer Bar fault corridor, related crosscutting structures and known copper occurrences. Maxus intends to integrate the interpretation with recent geological mapping, soil and rock geochemistry, and historical exploration data sets to prioritize follow-up exploration targets at Penny. The project is located near Cranbrook, B.C., within the prolific Belt-Purcell basin, which is host to numerous sediment-hosted base metal deposits including the historic Sullivan mine.

Geophysical interpretation highlights:

• Convolutions completed the interpretation of the 2025 airborne MobileMT survey at Maxus's 100-per-cent-owned Penny project.
• The 2025 MobileMT survey was composed of approximately 519 line kilometres over a 46-square-kilometre area and was designed to map bedrock structure, lithology, conductivity and resistivity features.
• Interpretation identified multiple conductive trends and structural target areas, including features spatially associated with the Palmer Bar fault corridor and related crosscutting structures.
• Conductive horizons are interpreted to be potentially associated with sulphide- or graphite-bearing stratigraphy within the Creston formation. Further work is required to determine the source of the conductivity.
• Maxus intends to integrate the interpretation with geological mapping, geochemistry, known mineral occurrences and historical data sets to prioritize follow-up exploration targets.

Scott Walters, chief executive officer of Maxus, commented: "The interpretation completed by Convolutions Geoscience has significantly advanced our understanding of the Penny project and highlighted multiple priority target areas for follow-up exploration. The strong correlation between interpreted conductive trends, major structural corridors and known copper-silver occurrences significantly increases our confidence in the project's potential. We believe Penny represents an exciting exploration opportunity within the prolific Belt-Purcell basin."

About the Penny project

The project consists of approximately 3,123 hectares situated within the prolific Belt-Purcell basin of southeastern British Columbia, 17 kilometres southeast of 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, geophysics and rock sampling programs targeting copper-rich mineralization associated with favourable regional structures and alteration systems. Historical work within the project area has identified multiple copper-silver showings, including the Penny Man occurrences, where mineralization is commonly associated with faults, shears, silicification and fracture-controlled sulphides.

Prior to Maxus's acquisition of the project, historical sampling programs returned copper values including 1,046 parts per million copper (TK17-149c), 1,808 ppm Cu (TK17-28) and 2,388 ppm Cu (TK17-12).

The recently completed interpretation by Convolutions identified multiple broad conductivity anomalies and structurally controlled targets across the project, several of which appear to be spatially associated with known mineral occurrences and the Palmer Bar fault corridor.

Maxus plans to develop and prioritize high-priority targets for future exploration programs through continued integration of the MobileMT interpretation with geological mapping, geochemistry and historical data sets.

Survey and interpretation details

The 2025 airborne MobileMT survey was composed of approximately 519 line kilometres over a 46-square-kilometre area and was designed to assist in mapping bedrock structure, lithology, conductivity and resistivity features across the project. The interpretation completed by Convolutions integrated MobileMT apparent conductivity, resistivity inversion products, magnetic data, known mineral occurrences, mapped structures and historical exploration data sets to refine target areas for 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, exploration, of the company, 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, analysis and procedures underlying the information and opinions contained herein. Kyle Patterson, PGeo, president of Convolutions, has reviewed the geophysical interpretation disclosure contained in this news release.

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 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 gold, 3.8 per cent copper, 0.34 per cent zinc, 42.5 per cent lead, 0.65 g/t silver and 20 per cent antimony.

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 B.C. projects through targeted exploration programs designed to unlock value across multiple critical mineral systems.

We seek Safe Harbor.