Mr. Scott Walters reports

MAXUS MINING MOBILIZES FOR INAUGURAL DRILL PROGRAM AT ALTURAS WEST PROJECT

Mobilization is under way for the inaugural drill program at Maxus Mining Inc.'s flagship Alturas West project, located in the Slocan mining division of southeastern British Columbia. The company has partnered with Palliser Exploration Ltd. to support field operations for the fully permitted 2026 exploration campaign.

The 2026 exploration program at Alturas West is designed to systematically advance high-priority antimony targets through a combination of drilling, surface exploration and early-stage metallurgical evaluation. Mobilization activities are currently under way, including staging of equipment, establishment of field infrastructure and co-ordination of helicopter-supported operations ahead of drilling commencement.

The initial drill pads have been positioned to test the antimony-bearing shear zone associated with surface rock-chip samples returning up to 69.98 per cent antimony. The inaugural drill program has been designed to evaluate the continuity of mineralization at depth.

Scott Walters, chief executive officer of Maxus, commented: "Mobilizing for our first drill program at Alturas West marks a major milestone for Maxus as we transition from target generation into systematic drill testing. Through the integration of modern geophysics, historical exploration data, prospecting and structural modelling, we believe that we have identified several compelling targets with strong discovery potential. With antimony now recognized as a strategically important critical mineral, we believe Alturas West represents a rare opportunity to evaluate a historically productive antimony district using modern exploration techniques. We are also pleased to be working alongside Palliser Exploration as we execute this important next phase of exploration at Alturas West."

2026 exploration program highlights -- Alturas West:

• Approximately 2,000 metres of helicopter-supported diamond drilling focused on high-priority exploration targets and depth-testing of known zones of surficial antimony and polymetallic mineralization;
• Drill targets refined through integration of newly acquired VTEM (versatile time-domain electromagnetic) airborne geophysical data, recent prospecting results and 3-D structural modelling;
• Comprehensive surface sampling and geological mapping programs designed to refine geological models and generate additional drill targets;
• Early-stage metallurgical testing, including ore-sorting studies, planned to evaluate processing characteristics and potential project optimization pathways.

Focused advancement at Alturas West

The planned drill program will target the depth extensions and continuity of known mineralized zones identified through historical exploration and recent fieldwork completed by the company. Drilling is expected to provide important insights into the geometry, continuity and grade distribution of mineralized structures, supporting future resource development initiatives.

In parallel with drilling, Maxus plans to continue advancing surface sampling and geological mapping programs across the project to expand geochemical coverage and identify additional zones of interest for follow-up exploration.

Metallurgical evaluation and ore-sorting potential

As part of its advancement strategy at Alturas West, Maxus plans to initiate early-stage metallurgical testing on selected surface samples and drill core material. This work is expected to include ore-sorting studies designed to evaluate the potential for preconcentration and early waste rejection opportunities.

The company believes that integrating metallurgy and ore-sorting evaluation early in the exploration process may help identify opportunities to enhance project economics through improved feed grades, reduced processing costs and more efficient material handling.

Next steps

Coming catalysts at Alturas West include the results of the company's maiden drill program, continued integration of VTEM geophysics with drilling and surface exploration data, continuing metallurgical and ore-sorting evaluation, and expanded geological mapping and prospecting programs aimed at identifying additional high-priority targets across the project.

Community engagement

Maxus recognizes that meaningful engagement with First Nations and local communities is an important component of responsible mineral exploration. The company remains committed to maintaining transparent communication, minimizing environmental disturbance and building respectful long-term relationships as exploration activities progress.

Marketing agreement

Additionally, the company has entered into an on-line marketing agreement dated July 8, 2026, with i2i Marketing Group LLC to provide digital marketing and investor awareness services. The engagement is expected to commence on Aug. 18, 2026, and will continue for a period of three months, or until the initial media budget (as defined below) has been fully expended, whichever occurs first.

Under the terms of the agreement, i2i Marketing will provide corporate marketing and investor awareness services, including content creation management, author sourcing, project management and media distribution. The services are designed to increase investor awareness of the company and attract potential new investors through various digital channels.

Pursuant to the agreement, the company has agreed to a total creation and media distribution budget of $300,000 (U.S.) (approximately $426,300) for the services, which is non-refundable upon execution. Following the initial term, the agreement may continue on a month-to-month basis pursuant to mutually agreed supplemental insertion orders.

The company will not issue any securities to i2i Marketing as compensation for its services under the agreement. i2i Marketing is an arm's-length party to the company. To the knowledge of the company, as of the date of the agreement, i2i Marketing and its principals, directly and indirectly, do not hold any securities of the company. i2i Marketing's contact information is as follows: Joe Grubb, 1107 Key Plaza, Suite 222, Key West, Fla., 33040, United States (telephone: 312-725-3843, e-mail: contact@i2illc.com).

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 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 gram per tonne 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 parts per million 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.